The Back Room is a celebrated Prohibition-era speakeasy tucked away in the Lower East Side. Via Twitter
Keep Quiet About These Speakeasies
News from NYU Stern School of Business
“There is something ridiculously scandalous and enticing about anything that’s supposed to be a secret. Being in the know and having to keep classified information somewhat is a talent. Professor of Management Michael Slepian from Columbia Business School conducted a study regarding the effects of secrets on an individual’s life and found that secret keepers felt a physical weight holding secrets. So it does not come as a surprise that when something as loud and rambunctious as going to a bar and grabbing a drink is supposed to be kept under the radar, everyone tries to get in on it.
“Speakeasies emerged during the strict years of Prohibition when people were doing anything to grab a drink. Bootleggers made quite a profit selling homemade alcohol, while speakeasies began flourishing all over the country. In New York City, the 1920s hailed a whole era of hidden bars. Anywhere from 20,000 to 100,000 speakeasies were established during the intense years of Prohibition.”
The Complicated Logic Behind Donating To A Food Pantry Rather Than Giving A Hungry Person Cash
News from Northwestern University Kellogg School of Management
“Let’s say you are a policymaker who wants to fight the obesity epidemic. Should you give people the tools to make better decisions, such as listing calorie counts on menus? Or should you ban certain types of junk food altogether, perhaps forbidding the sale of jumbo-sized sugary sodas?
“Banning junk food probably feels like it will have more of an impact. But now take the perspective of a regular citizen. Would you still prefer to have your drink choices dictated to you?
“This demonstrates a common phenomenon: when people are on the receiving end of help, they tend to prefer something called agentic aid, which allows them to choose how to respond, says Adam Waytz, an associate professor of management and organizations at Kellogg. Yet people often prefer the opposite — paternalistic policies — when helping others.”
The World’s Most Talent Competitive Countries, 2018
News from INSEAD
“The view that diversity is a resource that can improve performance is spreading throughout organizations. Research shows that for complex tasks that require creativity, diverse teams do better than those comprised of similar individuals – as long as the team members have the skills to collaborate. Diversity of views, experiences, expertise, culture and race can all enhance the way organizations and countries work.
“This view is also spreading into the realms of policy. Education reform underway across the world is focused on tapping into differences rather than suppressing or ignoring them, as it has become clear that individual diversity and collaboration must be inculcated from the early stages of education. There is a growing realization that diversity can be a national resource for competitiveness.”
Why You Are Unhappy At Work
News from Harvard Business School
“Some 71% of American workers are hunting for new jobs, and a hefty percentage feel they are not paid fairly or get enough recognition, according to the 2017 Mind the Workplace report. Time pressure, megalomaniacal supervisors, grumpy office mates, all contribute to this sour-stomach feeling. What can be done to improve the office environment?
“Research by Harvard Business School professors suggests these problems are not only common—but solvable. Here are some of our most insightful stories about unmotivated employees and what can be done for them.”
Collaboration Builds The Bridge: Tuck Bridge
News from Dartmouth College Tuck School of Business
“American motivational speaker and author Earl Nightingale once tweeted, ‘Your problem is to bridge the gap which exists between where you are now and the goal you intend to reach.’ For many students at Dartmouth, their goals includes a career in business, but the College does not offer a business major. For many students, the Tuck Business Bridge program serves as the ‘bridge’ towards a career in business.
“Tuck Bridge is operated by Dartmouth’s Tuck School of Business and caters to liberal arts students who wish to develop fundamental business skills. The program is not limited to Dartmouth students — rising juniors through graduating seniors from any college or university are eligible to apply. Tuck Bridge is offered three times a year: as two four-week-long sessions in the summer and one three-week-long session in December. Students accepted to the program live the life of a real MBA student, for a couple weeks at least.“
Canadian Foreign Affairs Minister Chrystia Freeland at the closing of the NAFTA meetings in Montreal on Monday. The sixth round of talks ended on a positive note
NAFTA Talks Moving Ahead Is A Good Sign, Say U of T Experts
News from University of Toronto Rotman School of Management
“With NAFTA talks ending on a more positive note than expected this week, U of T News reached out to our experts on what, if anything, has changed and the challenges ahead for trilateral bargaining.
“Grace Skogstad is a professor of political science at U of T Scarborough. Walid Hejazi is an associate professor of international business at U of T’s Rotman School of Management. Robert Bothwell is a professor of international relations and Canadian history at the Faculty of Arts & Science and the Munk School of Global Affairs.”
Veronica Chua
HBS Peek Weekend: Finding A Sense Of Purpose
News from HBS
“If you are a college student interested in the MBA program at HBS, I highly encourage you to apply to Peek Weekend. As a Peek Weekend participant, you are given the opportunity to visualize whether or not the MBA program aligns with your personal goals. Not only was it an eye-opening educational experience, exceeding even my highest expectations, but it filled me with a profound sense of purpose.
“HBS cultivates a community of individuals who are encouraged to jump into the ring and grab life by the horns. Being part of a community that encouraged diversity of thought and celebrated leadership in its many forms felt surreal. Immersed in such a stimulating environment, I could not help but gain new perspective from those around me, enriching the way I think and act on a daily basis. Moving forward, I know I will always carry with me the purpose to create, the purpose to motivate, and the purpose to engage.”
Cornell Offers New Minor In Entrepreneurship And Innovation
News from Cornell University Johnson Graduate School of Management
“Students interested in learning about starting and managing businesses can now minor in ‘Entrepreneurship and Innovation,’ a new minor that the University revealed on Monday.
“Susan Fleming ’08, minor director and senior lecturer at the School of Hotel Administration, said the minor was created in light of the ‘tremendous interest’ in the subject on campus, citing successful entrepreneurship programs such as eLab and entrepreneurship at Cornell.
“’People [think] entrepreneurs are born,’ Fleming said. ‘We think entrepreneurs can be made. They can be taught how to manage and approach world problems in innovative and entrepreneurship minded ways, and that’s what we want to teach.’”
Why Economists Should Think Like Plumbers
News from INSEAD
“There is a long list of sensible economic policies that have failed in practice because of poor implementation. In both the developed and developing world, when insufficient thought is given to how to put a policy into practice, it can lead to frustration and even disillusionment with the original idea, which could have been economically sound.
“One of the best examples of this was the Affordable Care Act (Obamacare) in the United States. Disillusionment with the policy has grown ever since it was launched. Online insurance exchanges where people could choose policies were riddled with technical glitches and many had their existing insurance policies cancelled as these didn’t meet new regulations – despite the president’s promise that those with existing healthcare plans could keep them. This has fuelled calls for the entire reform to be rolled back despite increasing the number of Americans with insurance coverage. It was the implementation or ‘plumbing,’ rather than the policy, which was poorly designed.”
Harvard Business School Announces New Global Opportunity Fellowship (GO: Africa)
News from HBS
“Beginning with the MBA Class of 2018, Harvard Business School (HBS) will offer a Global Opportunity Fellowship (GO: Africa) to supplement the income of MBA graduates who go on to work in Africa following graduation.
“The fellowship is designed to bridge the gap between a recipient’s annual salary and $100,000 USD. Students will be eligible for the fellowship for up to five years after graduation, with a maximum award of $50,000 per year and cumulative support of $150,000.
“’We are eager to support HBS graduates who want to make a difference in emerging markets,’ said Chad Losee, Managing Director of Admissions and Financial Aid. ‘This pilot program will help attract top talent to Africa and expand the School’s global impact.’”
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