ASU photo
“The W. P. Carey School of Business at Arizona State University announced a generous $3 million gift from Chuck Robel to establish the Charles J. Robel Dean’s Chair in Business.
“Charles J. ‘Chuck’ Robel is a 1971 graduate of the W. P. Carey School and a 2014 inductee into its Alumni Hall of Fame. Since 2008, he has been on the board of directors of GoDaddy Inc., an internet domain registrar and web hosting company based in Scottsdale, Arizona, and has served as its chairman of the board since 2015. Previously, he served as chairman of the board of McAfee, one of the world’s best-known computer-security software companies, prior to its multibillion-dollar sale to Intel.
“Robel spent the first 26 years of his career at PricewaterhouseCoopers, leading its M&A technology group and software industry practice in Silicon Valley. Earlier this year, he was named to the board of directors of Sumo Logic, a cloud-native, machine data analytics platform, and was appointed chairman of the board of Model N Inc., a revenue management cloud solutions provider.”
Joanne Legler, Yale SOM admissions director. Yale SOM photo
Yale SOM Admissions Chief: How To Make App Progress Over The Holidays
News from Yale SOM
“Things are getting quiet around Evans Hall these days. Full-time MBA, MAM, and MMS students are occupying nearly every available classroom, conference room, and seat in the building, studying for finals. On our side, the MBA for Executives team is prepping for the final class weekend of 2018 and getting our party clothes out of the closet for our annual holiday soirée on Friday night.
“Of course, we’re also looking forward to a long break as Yale University closes down starting on December 21. While we hope you will also get a restful break at the end of the year—and that you’ll spend most of your time off relaxing, eating, and spending time with family and friends—this is also a perfect time to keep working (or get started!) on your Round 2 application for the Yale SOM MBA for Executives program. The deadline is January 29, 2019.
“The time off from work is a great opportunity to do some deep reflection about your career, your goals, and your next steps toward leadership in your organization or industry, and how the MBA for Executives fits into that plan. More practically speaking, if you’ve decided an application is in your near future (and since it’s the perfect time of year for a list!), I offer up some suggestions of things you can work on in preparation for a Round 2 application.”
9 Great Reads For The Festive Break
News from London Business School
“This festive season, dispose of the idea you will ‘catch up’ on your reading. Spend quality time and apply your whole self to absorbing the lessons from a couple of these LBS faculty festive reading recommendations.
“Choose carefully.”
New Year, New Habits
News from Harvard Business School
“When a new year rolls around, many of us ponder resolutions to improve our work habits. Maybe we wish to behave a little better with colleagues, become more organized, or actually take breaks during the day. But can we really change our own ingrained behavior? The good news is that social science research not only confirms change is possible, but outlines ways to make new behaviors stick.
“Here is research out of Harvard Business School that explores the latest thinking in behavioral research and how big changes can start with something as simple as a nudge.”
jhu.edu
What Looks Like Substance Abuse Could Be Rational Self-Medication, Study Suggests
News from Johns Hopkins Carey Business School
“When improved antidepressants hit the market in the 1980s, heavy drinking among people with depression dropped 22%, suggesting people who knowingly use drugs and alcohol to relieve mental and physical pain will switch to safer, better treatment options when they can get them, a new Johns Hopkins University study has found.
“‘We know depression and heavy drinking go hand in hand, but no one has tested the notion that if good medicine comes along, many people will drink less or abstain altogether,’ said economist Nicholas Papageorge. ‘People look at heavy drinking as a problem or a mistake. But what we’re saying is people rationally self-medicate. If there are no good options, people will use what’s available.'”
INSEAD
How To Prolong Competitive Advantage
News from INSEAD
“When Swedish furniture giant IKEA established its first store outside of Scandinavia, it created an expansion strategy of researching new markets, then opening a flagship store with local customizations and then franchising. Its customization model was different, allowing for quirky marketing like ‘Swedes go home’ in Switzerland. IKEA used its competitive advantage of a systematic expansion model, in terms of where the stores are and how they are laid out, with the willingness to make important changes when necessary. For example, it adjusted product sizing in the United States, where traditional Swedish-designed drinking glasses had to be supersized to stop Americans from buying flower vases to use as tumblers.
“Competitive advantage, i.e. those conditions that give a company its favourable position, had been thought to last only about five years on average, according to traditional measures. But as IKEA and other firms have shown, a much longer period of success is available to some companies. When evaluating their firms, executives – and the market – have a tendency to consider only the resources they can see, ones that directly affect profit, which we call operating resources. More central to a firm’s long-term success, however, are what academics refer to as ‘higher-order resources,’ those intangible assets that improve a company and help drive long-term growth, such as strategic capabilities.”
MIT professor Eric So. Image: Scott Bauer
MIT Prof Offers Secrets To Better Investing
News from MIT Sloan School of Management
“A few years ago, Eric So and a co-author finished a working paper about corporate earnings announcements and posted it on the Social Science Research Network (SSRN). They had found something striking: Corporations telegraph the content of their quarterly financial results via the timing of their earnings announcements.
“That is, publicly traded companies have a window of time to announce each quarter’s financials. If they set up an announcement early in that period, it means a good earnings report; if the announcement is scheduled for late in the period, it suggests relatively bad news is on the way. For stock traders, that’s a great insight, as the response to So’s paper confirmed.
“’I posted it on SSRN at around three o’clock on a Thursday, and by the end of the day Friday, I had 10 invitations to present at hedge funds,’ says So.”
The Art Of Balancing Autonomy And Control
“Today, managers recognize that innovation requires a high level of work autonomy for their employees. This encourages curiosity, enables independent thinking, and provides an environment in which employees can experiment and test new problem-solving approaches with minimal fear of failure. At the same time, top-level management and shareholders expect managers to innovate at an increasingly demanding pace, putting top-down pressure on employees to channel this autonomy into productivity. The challenge for managers becomes figuring out how to balance autonomy and control in order to achieve organizational goals without jeopardizing innovation.
“The world of hackathons brings the study of balancing high-speed, creative autonomy and administrative control to bear in many interesting ways. Both the hacking and making cultures are centered around creative autonomy, curiosity-led problem-solving, and freedom to independently build solutions. Managing hackathons requires bringing together myriad technologists, designers, and other professionals and supporting their free exploration while simultaneously helping them finish with working prototypes. In these high-pressure environments, how do hackathon organizers chart a path to success, and what can industry managers learn from them?”
Gift to establish 4 professorships at Fuqua School
News from Duke University Fuqua School of Business
“Duke University has received a $7 million grant to establish four professorships to bolster faculty excellence in research and teaching at The Fuqua School of Business, President Vincent E. Price said Thursday.
“The gift from The Duke Endowment, a private foundation based in Charlotte, will provide matching funds to establish four endowed full professorships at Fuqua. The Endowment will match gifts of $1.75 million from future donors for each of the professorships, bringing the total of Duke’s Fuqua Faculty Support Challenge to $14 million.”
LBS
3 Steps Closer To A Purposeful Organization
News from London Business School
“Most executives realize that, to motivate employees and improve productivity, they cannot rely on financial incentives alone. People need to understand the higher purpose of their jobs.
“Respondents in a global survey of senior executives by Harvard Business Review and EY’s Beacon Institute agreed on the importance of purpose: 89% said a strong sense of collective purpose drives employee satisfaction; 84% said it can affect an organization’s ability to transform itself; and 80% agreed that purpose helps increase customer loyalty.
“One company we know well took this to heart. During a weekly meeting, senior executives started to explain how their pharmaceutical products not only attracted profits but also significantly improved patient outcomes. One senior manager introduced a patient who explained how one of the company’s drugs had saved her life.”
Wharton
Why Books Matter For The Long Run
“Why have Eric Schmidt, Meg Whitman, Reid Hoffman, John Doerr and other leading technologists resorted to the venerable (some would say backward) practice of book-writing to communicate their visions? Why did Mark Zuckerberg introduce a quaint book-of-the-month feature onto the runaway train of Facebook? Why does Bill Gates regularly pen long, thoughtful book reviews in a whirlwind communications culture fueled by texts and tweets?
“How have books survived the information tsunami, and what will authors and publishers have to do to leverage the success of books for the long run?”
PwC’s Rohit Kumar met with Kelley students on Dec. 10 and discussed an understanding of policy issues as crucial to many companies. Kelley photo
An Insider’s View Of Washington And Policymaking
News from Indiana University Kelley School of Business
“Indiana University’s Kelley School of Business and its 3/2 MBA Program welcomed Rohit Kumar, a principal at PwC LLP and leader of the firm’s tax policy services group in its Washington National Tax Services practice.
“Kumar provided a unique perspective. He has extensive knowledge of government and public policy. Before joining PwC in 2013, he worked closely with three Senate leaders on Capitol Hill, including seven years with current Majority Leader Mitch McConnell, for whom he served as domestic policy director and deputy chief of staff.
“He helped to develop and implement tax, trade, budget and health care policy for McConnell as well as former Sens. Trent Lott, Bill Frist and Phil Gramm.”
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