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Nov 18, 2024
Professor Itay Goldstein interviews Bloomberg columnist Matt Levine to examine the GameStop and AMC stock saga and the powerful influence of social media on market events. The discussion highlights the role of behavioral finance in shaping investor actions and how social trends can disrupt financial markets on a global scale.
This discussion is part of a special series called "Future of Finance."
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Nov 12, 2024
Wharton's Pinar Yildirim untangles the relationship between charitable and political giving, which are both on the rise. This Ripple Effect podcast episode is part of a series on "Charitable Giving."
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Nov 11, 2024
Professor Itay Goldstein is joined by Hyun Song Shin, economic adviser and head of research at the Bank for International Settlements, and Loretta Mester, former President and CEO of the Federal Reserve Bank of Cleveland. Together, they explore the 2023 banking crisis, focusing on the collapse of Credit Suisse, Silicon Valley Bank, and other small to mid-level banks, while analyzing regulatory gaps and future protections for the banking system.
This discussion is part of a special series called "Future of Finance."
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Oct 15, 2024
Wharton's Stephanie Creary speaks to Teresa Amabile, emeritus professor of business administration at Harvard Business School, and Kathy Kram, emeritus professor of management and organizations at Boston University's Questrom School of Business, about how to prepare for retirement and other insights from their book Retiring: Creating a Life That Works for You.
This episode is part of the Leading Diversity at Work series.
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Oct 01, 2024
In this year's presidential election, both political parties are unwilling to tackle the burgeoning national debt. Wharton's Joao Gomes warns that inaction is putting the country on a perilous economic path. This Ripple Effect podcast episode is part of the "Business of Elections" series.
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Sep 24, 2024
From crowdsourcing to search engines, emerging AI technologies are pivotal in fostering innovation and advancing progress across various sectors.
In this "AI Horizons" podcast episode, Kartik Hosanagar — Wharton professor of operations, information and decisions, and co-director of AI at Wharton — joins leading academics as they discuss how artificial intelligence is set to shape future developments.
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Sep 17, 2024
When implemented effectively, generative artificial intelligence can enhance innovation among employees, relieve them from repetitive tasks, and bolster their communication skills. AI enables employees to maximize their potential in the workplace.
In this "AI Horizons" podcast episode, scholars from the University of Southern California's Marshall School of Business, Temple University's Fox School of Business, and Sichuan University's Business School discuss what their research reveals about AI in the workplace.
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Sep 16, 2024
The right word choice can help social media influencers increase engagement, according to research from Wharton marketing professor Jonah Berger.
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Sep 10, 2024
In this "AI Horizons" podcast episode, Wharton marketing professor Robert Meyer joins Dokyun Lee, an information systems professor at Boston University; Yannick Exner, a doctoral researcher in digital marketing at the Technical University of Munich; and Ankit Sisodia, a Purdue University marketing professor who specializes in the use of machine learning and AI for business applications, to offer glimpses into the profound ways in which AI is changing everything and to share their excitement for Apple Vision Pro.
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Sep 09, 2024
Marketing professor Zhenling Jiang discusses her research paper, "Referral Contagion: Downstream Benefits of Customer Referrals," and shares a simple intervention that can help companies gain more customers through referrals.
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Sep 03, 2024
Since the launch of ChatGPT in late 2022, Stack Overflow has seen a noticeable drop in daily visits, with traffic decreasing by 1 million—a 15% reduction within just four months. This trend underscores a growing preference for automated solutions, as users increasingly turn to AI for answers, reflecting a shift in how people seek information and interact socially.
In this "AI Horizons" podcast episode, Wharton marketing professor and AI at Wharton co-director Stefano Puntoni joins Gordon Burtch, information systems professor at Boston University's Questrom School of Business; Julian De Freitas, a business administration professor and director of the Ethical Intelligence Lab at Harvard Business School; and Weiguang Wang, a computer and information systems professor at the University of Rochester's Simon Business School to discuss the topic.
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Aug 06, 2024
Can student athletes profit off of their own name, image, and likeness? Wharton's Ken Shropshire weighs in on NIL and its impact on sports since a historic Supreme Court ruling brought it into the limelight in 2021. This Ripple Effect podcast episode is part of the "Back to School" series.
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Aug 06, 2024
Can student athletes profit off of their own name, image, and likeness (NIL)? Wharton's Ken Shropshire weighs in on NIL and its impact on sports since a historic Supreme Court ruling brought it into the limelight in 2021. This Ripple Effect podcast episode is part of the "Back to School" series.
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Jul 30, 2024
Wharton's Stephanie Creary speaks with Jennifer Andrews, head of equity and inclusion at Guardian, and Ellen Ernst Kossek, a distinguished professor of management at Purdue University's Mitchell E. Daniels Jr. School of Business, about how companies can improve work-life balance for caregiving employees dealing with higher levels of stress, anxiety, and depression.
This episode is part of the Leading Diversity at Work series.
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Jul 23, 2024
Wharton marketing professor Jonah Berger discusses his published study, "Topography of Thought," which was co-authored with Olivier Toubia, business professor at Columbia Business School. The paper examines how someone's writing style can be indicative of their future success, and where generative AI might come into the picture.
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Jul 09, 2024
Wharton finance professor emeritus Jeremy Siegel's bestselling book, Stocks for the Long Run, was first released in 1994 and is now in its sixth edition. Siegel talks about what has changed in investment strategies, and what remains the same. This Ripple Effect podcast episode is part of a series called "Meet the Authors."
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Jun 04, 2024
Eric Bradlow, the vice dean of Wharton's new AI and Analytics Initiative, discusses how generative AI can be leveraged in education, companies, and society to enhance our lives — and why the first step to understanding AI is to simply start using it.
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Jun 04, 2024
Wharton's Cait Lamberton talks about her new book, Marketplace Dignity, which explains why customers want firms to treat them with respect and dignity above anything else. This episode is part of a series called "Meet the Authors" from the Ripple Effect podcast.
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May 21, 2024
Wharton's Stephanie Creary speaks with Dr. Ella F. Washington — organizational psychologist, practice professor at Georgetown University, and founder of Ellavate Solutions — on the indisputable value of DEI and how to be authentic at work while navigating corporate culture.
This episode is part of the Leading Diversity at Work series.
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May 07, 2024
Wharton's Lu Liu discusses what policy changes may be needed to break mortgage lock-in, which is restricting real estate inventory in the U.S. housing market. This Ripple Effect podcast episode is part of a series on "Real Estate."
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Apr 12, 2024
Wharton's David Musto talks about Penn's financial literacy course, which is being taught to high school students across the country. It's just one of the programs at the Stevens Center to help younger people understand money and make better financial decisions. This Ripple Effect podcast episode is part of a series on "Financial Literacy."
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Mar 11, 2024
Wharton's Stew Friedman talks about his book, Baby Bust: New Choices for Men and Women in Work and Family, which has been re-released for its 10th anniversary with a provocative new preface. This evidence-based book examines the changing attitudes millennials and younger generations have about raising children in a society that makes it increasingly difficult to do so.
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Mar 08, 2024
Wharton management professor Amy Wrzesniewski studied the shrinking field of journalism to better understand how workers grapple with occupational instability and declining careers. Her co-authored paper, "Perceived Fixed or Flexible Meaning: Toward a Model of Meaning Fixedness and Navigating Occupational Instability," appears in the journal Administrative Science Quarterly.
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Mar 05, 2024
There's a difference between a professional mentor and a sponsor, but women need both if they want help moving forward in their careers, explains Wharton Deputy Dean Nancy Rothbard. This Ripple Effect podcast episode is part of a series on "Women & Leadership."
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Feb 27, 2024
Wharton Coalition for Equity and Opportunity's Faculty Director Kenneth L. Shropshire is joined by industry leaders Nzinga "Zing" Shaw, CEO of Attack the Glass, and sports and entertainment attorney Jaia Thomas to address pay equity and underrepresentation in entertainment.
They discuss their experiences in developing diversity initiatives, including targeted hiring practices, mentorship programs, and curating resume databases. Shah and Thomas offer insights on how to enhance visibility and opportunities for women, people of color, disabled communities, and LGBTQ professionals in sports and entertainment. This interview is part of a special 4-part series called "Opportunity Matters."
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Feb 20, 2024
Wharton professor Keith Weigelt and President and CEO of Castle Oak Securities L.P. David R. Jones join host Kenneth L. Shropshire, faculty director of Wharton's Coalition for Equity and Opportunity, to talk about the inequities in finance and financial wellbeing.
They discuss the racial wealth gap, and the role of access, opportunity, and education. Learn about the solutions Wharton is pursuing to address these disparities, and how business leaders and financial institutions like Castle Oak can contribute to closing the wealth gap. This interview is part of a special 4-part series called "Opportunity Matters."
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Feb 19, 2024
Worried about your money? Wharton finance professor Michael Roberts is here to help with common-sense advice on mortgage debt, personal budgeting, and planning ahead. This Ripple Effect podcast episode is part of a series on getting a "Fresh Start" this new year.
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Feb 19, 2024
Wharton marketing professor Jonah Berger's latest co-authored research focuses on storytelling. His paper is titled, "Seeing Your Life's Story as a Hero's Journey Can Increase Meaning in Life." It explains how people can find more well-being and resilience by reflecting on the important elements in their lives and connecting them to a coherent and compelling narrative.
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Feb 19, 2024
Wharton marketing professor Jonah Berger's latest co-authored research focuses on storytelling. His paper is titled, "Seeing Your Life's Story as a Hero's Journey Can Increase Meaning in Life." It explains how people can find more well-being and resilience by reflecting on the important elements in their lives and connecting them to a coherent and compelling narrative.
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Feb 13, 2024
Kenneth L. Shropshire, faculty director for Wharton's Coalition for Equity and Opportunity, delves into the world of sports alongside guests Xavier Gutierrez, the NHL's first Latino president and CEO, and Jonathan Beane, the NFL's senior vice president and chief diversity and inclusion officer.
The conversation examines the unique role sports play in providing opportunities for underserved communities, and why women are more likely to foster a positive and inclusive work environment. They also address the diversity challenges in team ownership and highlight the ongoing efforts to increase opportunities for minorities in leadership roles within sports organizations. This interview is part of a special 4-part series called "Opportunity Matters."
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Feb 06, 2024
Kenneth L. Shropshire, faculty director of Wharton's Coalition for Equity and Opportunity, is joined by Wharton professor Guy David, Managing Director for Wharton's Coalition for Equity and Opportunity Dr. Fareeda Griffith, and Head of TIAA Institute Surya Kolluri.
They unpack the intricate ways income and wealth inequality reverberate through health care and influence health outcomes. From examining the impact of social determinants to navigating innovation in technology and AI, the conversation explores how these factors can either uplift or exacerbate existing disparities for underserved communities. This interview is part of a special 4-part series called "Opportunity Matters."
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Dec 15, 2023
In this special episode, listen to curated excerpts from this year's Ripple Effect podcast, where Wharton professors discuss a range of trending business topics.
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Dec 11, 2023
Wharton's Stephanie Creary speaks with two experts about why some employees feel the need to 'cover' aspects of their identity and how organizations can better support diversity in the workplace. She's joined by Kenji Yoshino -- a professor at NYU School of Law and faculty director of the Meltzer Center for Diversity, Inclusion, and Belonging -- and Joanne Stephane, executive director of Deloitte's DEI Institute™.
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Nov 09, 2023
Wharton's Stephanie Creary speaks with Dr. Broderick Turner -- a Virginia Tech marketing professor who also runs the school's Technology, Race, and Prejudice (T.R.A.P.) Lab -- and Dr. Karim Ginena -- a social scientist and founder of RAI Audit -- on how to use AI while thinking critically about its flaws.
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Sep 25, 2023
Wharton marketing professor Jonah Berger's latest research shows how a simple writing shift can make anyone more persuasive.
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Sep 05, 2023
New research from Wharton's Jonah Berger shows how the right words can help captivate audiences and hold their attention.
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Jun 20, 2023
It's been a year since Roe v. Wade was overturned. In this episode of Leading Diversity at Work, experts tackle the sensitive subject of how companies handle the issue of abortion.
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May 23, 2023
A new study co-authored by Wharton's Ingrid Nembhard finds that patients who are treated with empathy have better health outcomes. She explains why empathy in health care delivery should become standard.
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May 16, 2023
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Apr 04, 2023
In this episode of Leading Diversity at Work, Wharton's Stephanie Creary talks with two experts about inclusive storytelling and why it's important for organizations to embrace diverse narratives.
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Mar 14, 2023
Wharton finance professor Itamar Drechsler discusses what led to the collapse of SVB and the questions it raises for banks, depositors and regulators going forward.
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Mar 10, 2023
Wharton professors Christian Terwiesch and Karl Ulrich discuss their new book, 'The Innovation Tournament Handbook,' a how-to manual for generating winning ideas and solutions in any organization.
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Feb 20, 2023
What is the best medium for communicating with consumers? It depends on the content, according to the latest research from Wharton marketing professor Jonah Berger.
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Feb 13, 2023
Customers are unhappy when their favorite retailers make it harder to earn rewards, as Starbucks, Dunkin' and Best Buy have recently done. But firms have to walk a fine line between customer loyalty and profits, says Wharton's Raghuram Iyengar.
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Feb 06, 2023
Wharton's Matthew Bidwell thinks the slew of new salary transparency laws sweeping the nation will help advance pay equity, although it may not raise salaries overall.
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Feb 06, 2023
In this episode of Leading Diversity at Work, Wharton's Stephanie Creary leads a discussion on how major legal and policy decisions, including Florida's Stop WOKE Act, are affecting diversity, equity and inclusion efforts.
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Jan 30, 2023
Fans of the hit TV comedy "The Jerry Seinfeld Show" may remember an episode in which Jerry's friend George leaves his car parked at work so that the boss will think George is putting in long hours even when he's not. The idea of course is that George's apparent productivity will net him a higher raise or bonus. Wharton professor Maurice Schweitzer would call George's behavior "an attempt to invoke the input bias - the use of input information (in this case the false impression of long hours) to judge outcomes." As extreme as this example might seem business decisions are frequently made based on input that is either biased or manipulated as Schweitzer and colleague Karen Chinander suggest in a new paper entitled "The Input Bias: The Misuse of Input Information in Judgments of Outcomes."
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Jan 30, 2023
Gregory Mankiw head of the White House Council of Economic Advisors ignited a firestorm of debate this month when he said outsourcing of U.S. jobs is probably a good thing in the long run. As tends to happen with hot-button issues in presidential election years sensible discussion of this question was soon drowned in an uproar of political posturing. Experts at Wharton and the Boston Consulting Group point out that outsourcing is as old as the corporation. Increasingly sourcing work overseas is no longer a tactical option that can help firms save a few dollars here and there; it is a strategic necessity for any company that cares about its long-term competitiveness.
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Jan 30, 2023
Leadership doesn't just start at the top. Leaders can also be found at the bottom of an organization and at just about every place in between. In this special report by Knowledge at Wharton and The McKinsey Quarterly the management journal of consulting firm McKinsey & Co. experts from McKinsey and Wharton point out that regardless of whether people are on the top line or the front line they should explore ways to exercise their leadership potential to the fullest. That is the only way in which they can create meaningful working lives for themselves and the organization can get the most from their efforts.
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Jan 30, 2023
Managers have long been interested in weeding out customers that they consider to be less profitable than others. The question is how do managers determine who belongs in that group? According to several Wharton marketing professors there is no easy answer despite new and increasingly sophisticated efforts to measure what is called "Customer Lifetime Value" (CLV) - the present value of the likely future income stream generated by an individual purchaser. CLV it turns out is hard to calculate and harder to use.
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Jan 30, 2023
A Special Report by CNET News.com and Knowledge at Wharton With the economy rebounding and the technology sector once again focused on new partners products and opportunities the Wharton Technology Conference on Feb. 27 emphasized the future with the theme: "From Survival to Growth: The Emerging Face of Technology." Panelists and speakers from industry the government and academia discussed entrepreneurship and business innovation new technologies and hot-button issues such as outsourcing and open source software. Knowledge at Wharton and CNET News.com covered several of the panels and keynote speakers.
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Jan 30, 2023
You might think that with the passing of another year the corporate scandals that have rocked American business would be showing signs of petering out. They are not. In the past few months disclosures of allegedly unethical or illegal practices have rocked the mutual-fund industry and some of its blue-chip names even as the head of the New York Stock Exchange was forced to resign over the size of his compensation package. Knowledge at Wharton spoke to ethics experts a business historian and a Wall Street executive in an attempt to understand why the country has witnessed misbehavior of breathtaking scope in the first few years of a new century.
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Jan 30, 2023
In today's economy the odds that employees' skills will need to be updated have increased says management professor Peter Cappelli. The question then becomes is your employer going to reinvest in you through retraining or lay you off and hire someone new? As director of the school's Center for Human Resources Cappelli wanted to know why a few companies have remained committed to retraining even as the ethos of American business has changed. The answer as Cappelli explains in a new research paper has a lot to do with what is termed "social capital."
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Jan 30, 2023
What makes some companies so much better at managing customer relationships than their competitors? Put a different way how are companies like Enterprise Rent-A-Car Pioneer Hi-bred Seeds Fidelity Investments Lexus Intuit and Capital One able to stay more closely connected to customers than their rivals in ways that significantly influence the profitability of the firm? It's a question that Wharton marketing professor George Day answers in a new paper. His research notes among other things three distinct approaches to customer relationship management (CRM) each with dramatically different results.
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Jan 30, 2023
For the second year in a row Wal-Mart topped Fortune magazine's list of largest companies and is also the magazine's most-admired firm the first time one company has shared both honors since the annual survey began in 1955. The giant retailer continues to expand worldwide planting giant supercenters as well as new neighborhood-scale markets in its attempt to offer more and more goods to a wider array of shoppers. But Wharton faculty and outside analysts note that Wal-Mart still faces a few challenges ranging from its own centralized operations to union opposition to problems with local zoning boards.
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Jan 30, 2023
When companies outsource back-office services overseas one of the biggest challenges they face is measuring the results. Failure to monitor whether work is being performed correctly after it moves outside a company can result in massive and costly errors. How can companies protect themselves against such risks? Ravi Aron co-director with Jitendra Singh of a recent Wharton executive education program on business-process outsourcing offers some crucial insights.
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Jan 30, 2023
In recent years Wharton management professor Peter Cappelli has heard companies warn about a coming labor shortage to the point where this prediction is now routinely factored into discussions about human-resource issues. The problem Cappelli found is that no such shortage will occur. In his latest research Cappelli explains how challenges in recruiting and hiring stem from changes in the nature of the employer-employee relationship not in a shortfall of workers caused by demographic shifts.
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Jan 30, 2023
How does Southwest Airlines keep making money? After all the airline industry overall is in a shambles. US Airways and United Air Lines are reorganizing in bankruptcy while American Airlines flirts with the same fate. As a group the nation's biggest air carriers have lost billions of dollars over the past several years with no immediate recovery in sight. Yet the secret to its success said Southwest chairman Herb Kelleher during a talk at Wharton April 22 is available for anyone including its competitors to see.
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Jan 30, 2023
Women make or influence the purchase of more than 80% of all products and services. So you might think there would be nothing about women's buying habits that American businesses don't know. You would be wrong according to two new books entitled "Just Ask a Woman: Cracking the Code of What Women Want and How They Buy" and "Marketing to Women: How to Understand Reach and Increase Your Share of the World's Largest Market Segment." The authors offer their observations on what women want when they set out to shop. Hint: Think "warmer " not "winner."
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Jan 30, 2023
Many Western companies are considering moving back-office operations such as call centers to low-wage countries like India. While this approach can result in significant savings when the project is handled right potential pitfalls can undo the benefits. Knowledge at Wharton spoke with two executives who have undertaken such projects for their organizations to understand where the pitfalls lie and how to avoid them.
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Jan 30, 2023
Impossible thinking. It is what put men on the moon allowed Starbucks to turn a commodity product into a powerful global business and permitted Roger Bannister to run the four-minute mile. While not every "impossible thought" can become a reality very often the greatest obstacle to transforming our organizations society and personal lives is our own thinking. This may seem to be a simple idea in theory - that what we see and act upon is more a product of what is inside our heads than out in the world - but it has far-reaching implications for how we approach life and decision making. In their new book titled The Power of Impossible Thinking: Transform the Business of Your Life and the Life of Your Business Wharton marketing professor Jerry Wind and Colin Crook former chief technology officer at Citibank discuss the process - and promise - of "impossible thinking."
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Jan 30, 2023
There's a new marketing catchphrase that's getting rave word-of-mouth reviews. From articles in the popular press to conversations in the classroom huge companies to boutique marketing firms suddenly it seems you can't talk about new products without addressing 'buzz marketing.' "People are buzzing about buzzing " says Wharton marketing professor Barbara Kahn who adds along with others that word-of-mouth marketing has long been recognized as a way to influence consumer behavior. What's new about buzz marketing is the structure and hype surrounding it and the attempts to measure its effectiveness on sales.
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Jan 30, 2023
Wal-Mart's appearance for the third time in a row at the top of the Fortune 500 list of largest U.S. companies would seem to confirm what many have long suspected: This retailing behemoth is all-powerful and unstoppable. But industry experts and others are beginning to scrutinize some of Wal-Mart's latest initiatives and its critics point to recent complaints about the company's labor practices and hardball negotiating tactics. Others warn that Wal-Mart is not invulnerable to the same trends that have forced at least 25 major chain stores to close their doors since 1980.
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Jan 30, 2023
The stock market rises and falls based on investors' perceptions about how the economy is doing. CEOs make investment decisions -- opening a new plant hiring more workers -- based on their expectations about how markets will perform in the future. How can they keep tabs on whether their expectations are realistic? Bernard Baumohl author of The Secrets of Economic Indicators provides some insights into how investors and CEOs alike can pick up on statistical signals about the economy.
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Jan 30, 2023
Wal-Mart Target and other companies see radio-frequency identification (RFID) as a technology that will usher in the next revolution in the world of retailing. How real is this revolution? And what does it mean for retailers and customers? Experts at Wharton and elsewhere say that RFID is a potentially powerful technology that is on the brink of having a big impact. Still several hurdles remain that make it hard to predict whether its benefits will be immediate or spread out years into the future.
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Jan 30, 2023
Why do so many smokers keep smoking despite decades of health warnings? Why do Harley Davidson motorcycles and Ralph Lauren clothing engender such loyalty among very specific types of people? Why do teens and parents always seem to fight and never seem to hear what the other is saying? Wharton marketing professors Lisa Bolton and Americus Reed have found through their research that judgments linked to a person's identity - from teenager to Republican environmentalist or businessman - are virtually immovable. That has crucial implications for brand identity.
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Jan 30, 2023
In his 1994 best seller Stocks for the Long Run Wharton finance professor Jeremy Siegel showed investors that stocks rather than bonds or cash are the most profitable long-term investments and he endorsed index-style investing. But investors wanted to know more. "I gave scores of talks across the country on Stocks for the Long Run " Siegel recalled recently. "The two questions I received most were: 'Which stocks for the long run?' and 'What about the age wave and the baby boom?'" Siegel's response was voluminous research for his new book The Future for Investors: Why the Tried and True Triumph Over the Bold and the New. Some of its conclusions surprised even him.
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Jan 30, 2023
Hubris can help a CEO build a business empire and it can also cause its downfall. When business leaders don't know themselves as well as they should and they are unable to manage their ego and emotions they fail say experts from Wharton and elsewhere. A Wharton conference on self-awareness will explore these themes further next month.
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Jan 30, 2023
Networking services - Internet companies that let users share personal profiles as a way to make social and professional contacts - are the hot e-businesses of the moment. Close to two dozen of these online communities are furiously recruiting members who in turn recruit their friends relatives co-workers and just about anyone seeking an introduction to or reference from someone who might matter. But it's still too early to measure how successful these sites are at matchmaking - or making money.
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Jan 30, 2023
Baby boomers are amassing trillions of dollars in stocks bonds and mutual funds for retirement. But when they quit work and start selling those assets will there be enough buyers? Or will supply outstrip demand driving down prices and leaving the retirees with far less than they had expected? Wharton finance professor Jeremy Siegel addressed these issues during a presentation at Wharton on May 15 in which he also talked about the current financial markets worker productivity and growth in developing countries.
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Jan 30, 2023
In a new study that compares Fortune 100 executives in 1980 with their counterparts in 2001 Peter Cappelli director of Wharton's Center for Human Resources and colleague Monika Hamori document what many CEOs and other senior managers have no doubt already witnessed: The road to the executive suite and the characteristics of the executives who get there have changed significantly over the last two decades. Among the researchers' findings: Today's executives are younger more likely to be female and less likely to have Ivy League educations. They get to the executive suite faster than ever hold fewer jobs along the way spend about five years less in their current organization before being promoted and are more likely to be hired from the outside.
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Jan 30, 2023
The demographics of today's workforce employee expectations about retirement and the types of retirement options offered are all in a state of flux making retirement policy a moving target for those charged with researching and administering pension plans. That was the message at a recent Wharton conference titled "Reinventing the Retirement Paradigm" co-hosted by Wharton's The Pension Research Council. Experts from academia government and industry debated what's ahead for the baby boomers and those coming up behind them.
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Jan 30, 2023
Schools companies and nonprofit organizations around the country including educators at Wharton say helping children and teenagers learn the rudiments of free markets entrepreneurship credit spending saving and investing is one of the most important - and neglected - components of a young person's education. Yet for kids from both affluent and poor neighborhoods it's difficult to find financial literacy courses not just in their schools but outside the classroom as well. Several organizations are hoping to change that.
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Jan 30, 2023
Imagine that you have been assigned to a six-person team in your company and asked to complete a top-priority project on a very short deadline. Some of the people have never worked together before team members change every hour or so leadership constantly shifts between three different individuals and any mistake could have disastrous even fatal consequences for the project. Wharton management professor Katherine J. Klein spent 10 months studying such teams in action at the Shock Trauma Center in Baltimore Md. Her research presented in a new co-authored paper suggests a novel view of leadership different from that offered in traditional leadership models.
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Jan 30, 2023
Those who have been following the controversy over "offshoring" U.S. service jobs to low-cost markets like India now have new developments to consider: The takeover this month by U.S. business giants -- IBM and Citigroup -- of two major providers of business process outsourcing (BPO) services in India. These developments seem to validate a new study by consulting firm A.T. Kearney which ranks India as the world's top location for BPO services followed by China Malaysia and the Czech Republic. Experts from Wharton and A.T. Kearney have lots to say about the latest trends in offshore outsourcing.
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Jan 30, 2023
The days when an executive could look forward to a leisurely retirement out on the golf course are over thanks to a possible looming job shortage a graying population low savings rates and an insecure Social Security system. The impact of these factors on both workers and companies was the subject of the Symposium on Older Workers co-sponsored recently by the AARP Global Aging Program along with Wharton's Center for Human Resources and Boettner Center for Pensions and Retirement Research. Speakers included AARP CEO William D. Novelli Olivia Mitchell executive director of Wharton's Pension Research Council and Thomas Dowd a deputy assistant secretary at the U.S. Department of Labor.
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Jan 30, 2023
When Carleton (Carly) S. Fiorina joined Hewlett-Packard as its chairman and CEO in 1999 she was widely regarded as a charismatic leader who would help HP get out of its high-tech rut. Six years later however Fiorina has been forced out of her position at HP's helm and the company is still languishing. What happened? According to Wharton professors while Fiorina has several strengths the merger she engineered with Compaq not only failed to deliver on its promises it actually made matters worse.
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Jan 30, 2023
As the Gulf Coast attempts to recover from the emotional and physical scars of Hurricane Katrina the nation's most expensive natural disaster Wharton and University of Pennsylvania faculty are raising questions about how society should assess and perceive risk and how it should compensate victims when disaster strikes. A new book entitled On Risk and Disaster: Lessons from Hurricane Katrina by University of Pennsylvania provost Ronald J. Daniels political science professor Donald F. Kettl and Howard C. Kunreuther Wharton professor of operations and information management argues that the U.S. government has become an insurer of last resort and questions whether that unofficial policy is contributing to larger and costlier disasters.
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Jan 30, 2023
After adapting information technology to develop ever more sophisticated research methods marketers are taking a second look at more human qualitative approaches to tapping into the hearts and minds of consumers. As one Wharton marketing professor says: "We can put each customer's order on a microchip but as far as having a sense of what's inside making him tick " the answers remain elusive. He and others suggest that companies use both quantitative methods - such as data mining - and qualitative methods ranging from "concept banks" to "brand communities" to customer advisory boards always keeping in mind the cost-effectiveness of these varied approaches.
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Jan 30, 2023
David Sirota co-author of The Enthusiastic Employee: How Companies Profit by Giving Workers What They Want (Wharton School Publishing) believes far too many managers stifle employee enthusiasm across the board by using bureaucratic or punitive techniques that should be reserved for a troublesome few. Yet his book written with Louis A. Mischkind and Michael Irwin Meltzer finds that firms where employee morale is high -- such as Intuit and Barron's -- tend to outperform competitors. In an interview with Knowledge at Wharton Sirota talks about employees' three basic goals how to deal with employees who are "allergic" to work and how managers can inspire greater loyalty and productivity from their workforce.
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Jan 30, 2023
From childhood on individuals are told that setting goals for themselves will make them more successful in whatever they set out to do - whether it's win tennis games ace their exams or become CEO of their company. But goal-setting also has a dark side to it according to a recent research paper by a Wharton faculty member and two colleagues. In addition to motivating constructive behavior goal setting - especially when it involves rewards such as bonuses or perks - can also motivate unethical behavior when people fall short of the goals they set or that are set for them.
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Jan 30, 2023
For nearly 30 years Wharton management professor Lawrence G. Hrebiniak has taken the art of business strategy and put it under a microscope. Over time he has brought one critical element into irrefutable focus: Creating strategy is easy but implementing it is very difficult. In his new book Making Strategy Work: Leading Effective Execution and Change (Wharton School Publishing) Hrebiniak presents a comprehensive model to help business leaders bridge the gap between strategy making and successful strategy execution. He challenges executives to recognize that making strategy work is more difficult than setting a strategic course - but also more important -- and he documents the obstacles that get in the way of successful performance.
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Jan 30, 2023
Can an industry that has spent a fortune on TV ads featuring mud wrestlers and talking frogs suddenly change its stripes to appeal to the wine-and-cheese single-malt Scotch crowd? The makers of Budweiser and other brands of beer hope so. Anheuser-Busch and its competitors are developing an industry-wide marketing campaign aimed at overhauling the image of the humble beer and staunching its declining share of the alcoholic beverage market. But Wharton faculty members say that such a radical makeover might be too tall an order even though the effort could enhance the appeal of microbreweries and perhaps some mass-market beers like Michelob that have already carved out a higher-end image.
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Jan 30, 2023
The turmoil and uncertainty among auto manufacturers and their suppliers have left people wondering when a shakeout can be expected. According to Wharton management professor John Paul MacDuffie and Christopher Benko director of the PricewaterhouseCoopers Automotive Institute in Detroit consolidation will take place among suppliers to a much greater extent than among carmakers which may not experience mergers and acquisitions at all in the near term but will be engaged in ever-shifting strategic alliances and joint ventures. Additionally these experts say many Western parts suppliers are under immense pressure from lower-cost Chinese parts producers and need to consolidate to strengthen their chances of survival.
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Jan 30, 2023
It's no surprise that the front lines of a corporate call center are unusually stressful but companies don't always account for that when hiring and training workers for this critical customer contact role according to speakers at a recent Call Center Industry Forum sponsored by Wharton's Financial Institutions Center. Given that an estimated 3% of the U.S. workforce is employed in call centers and that such centers typically experience a 30% annual turnover it's clear that new approaches to call center management are needed.
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Jan 30, 2023
Last week Microsoft unveiled the new version of its Windows Media Player firing the opening shots in a long-anticipated battle against Apple Computer for supremacy in the online music business. Both companies are targeting the fast-growing market whose sales are expected to be $270 million this year but could grow to $1.7 billion by 2009. Experts at Wharton and elsewhere say that for now Apple whose iTunes music service commands a 70% market share has an impressive lead. Over time however two strategic issues make Apple vulnerable to being dislodged by Microsoft or other rivals.
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Jan 30, 2023
Pricing the intersection at which untold numbers of buyers and sellers meet every day lies at the core of any business. Yet it remains misunderstood and poorly managed according to The Price Advantage a new book by three consultants at McKinsey & Co. Even executives at successful companies may not fully appreciate how small changes in price can lead to large changes in profitability. Wharton marketing professor David J. Reibstein spoke recently with the authors about the themes in their book.
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Jan 30, 2023
Marketers are happy speaking their own language replete with jargon like "awareness " "share of requirements" and "customer satisfaction." Such terminology works fine in the marketing department and with the advertising professionals who execute marketing plans. But there's a translation problem between that language and the language of profitability and stock price which is the mother tongue of corporate CEOs. "CEOs want to know what a 5% increase in customer satisfaction will do for the bottom line " says Wharton marketing professor David Reibstein who talked about "Linking Marketing Metrics to Financial Consequences" at the Wharton Marketing Conference on October 15.
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Jan 30, 2023
Wharton management professor Michael Useem director of the school's Center for Leadership and Change Management notes that one of the key mantras in corporate crisis management is: "Hide nothing tell all." Less than a week after Merck & Co.'s voluntary withdrawal of its blockbuster arthritis pain medication Vioxx following an extended clinical trial that linked the drug to heart attacks and strokes the jury is still out on whether the pharmaceutical giant followed this cardinal rule. Wharton professors debate Merck's response to the crisis and the impact of the recall.
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Jan 30, 2023
During her first few months in office German Chancellor Angela Merkel has attained the kind of approval rating that politicians the world over dream about largely due to the way she has handled herself on international matters in visits to Washington Moscow and Brussels. But her main challenge is Germany's economy Europe's largest and the world's third biggest. It is a challenge that has been staring German leaders in the face for a long time for a number of reasons: lackluster GDP growth over the last five years; a vast overburdened welfare state; an anemic service sector; stubborn protectionist sentiment and an aging population that will place greater strain on the nation's budget in years to come. In whatever policies she proposes Merkel will have to tread softly to avoid alarming citizens and trade unions wary of change say scholars at Wharton and business schools in Europe.
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Jan 30, 2023
When consumers have a bad shopping experience they are likely to spread the word not to the store manager or salesperson but to friends family and colleagues. Overall if 100 people have a bad experience a retailer stands to lose between 32 and 36 current or potential customers. These are some of the conclusions of The Retail Customer Dissatisfaction Study 2006 conducted by The Jay H. Baker Retailing Initiative at Wharton and The Verde Group a Toronto consulting firm in the weeks before and after Christmas 2005. The biggest source of consumer dissatisfaction? Parking lots.
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Jan 30, 2023
For Oracle the past few months have been one big shopping spree. On January 31 the enterprise software giant purchased longtime rival Siebel Systems the leading provider of customer relationship management software. On February 14 it acquired Sleepycat an "open source" database maker; two days later it bought HotSip AB a Swedish telecommunications software provider. For many companies Oracle's month would have been a year's worth of merger and acquisition activity but for the Redwood Shores Calif.-based firm it's the norm. Oracle CEO Larry Ellison made a big splash in 2004 by announcing he would consolidate the software industry starting with archrival PeopleSoft and he has been true to his word. The real test however lies ahead: Can Oracle attract new customers?
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Jan 30, 2023
Much to the surprise of several venture capitalists who turned her down Helen Greiner co-founder of iRobot has built a thriving business making domestic robots like Roomba which sweeps floors and industrial robots that defuse bombs in Iraq. She was on campus this week at the invitation of the Wharton technology and entrepreneurship clubs and spoke with Knowledge at Wharton about the impact that robots have and will have on everyday life.
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Jan 30, 2023
Professional athletes face unusual challenges related to financial management especially since their peak earning period lasts a relatively short time often just a few years. Knowledge at Wharton asked Ken Shropshire professor of legal studies and business ethics and director of the Wharton sports business initiative to discuss this topic with Kailee Wong linebacker for the Houston Texans. Wong attended an executive education program at Wharton co-sponsored by the NFL and NFLPA.
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Jan 30, 2023
When Google announced its Gmail email service two years ago a lot of people figured the company was joking. After all Google had been known to offer up the occasional gag like saying it was starting a research center on the moon. More importantly nobody believed that consumers would tolerate Google's plan of scanning people's emails and then delivering advertisements to them based on the emails' contents. Two years later Gmail has tens of millions of users. But consumers' initial disbelief underscores the web's knotty privacy problem according to participants at the recent 2006 Wharton Technology Conference. Consumers say they want privacy online although they often behave in ways that contradict that statement; companies insist they will protect privacy although they sometimes fail to do so. And everybody is wary of increased government regulation.
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Jan 30, 2023
Walt Disney announced yesterday that it is acquiring Pixar the animated film studio that has made such hits as The Incredibles Finding Nemo and Toy Story. As part of the $7.4 billion deal Pixar's founder Steve Jobs will become a Disney board member and also its biggest shareholder. In an audio-only interview Wharton marketing professor Peter Fader speaks with Mukul Pandya editor-in-chief of Knowledge at Wharton and Robbie Shell editorial director about the implications of this deal not just for the two companies involved but for the whole media and entertainment industry.
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Jan 30, 2023
Helen Greiner shares a key trait with many successful business leaders -- a passion for something. In her case it happens to be robots. That passion led Greiner -- along with Colin Angle and Rodney Brooks -- to found what would become iRobot in 1990. Over the past four years iRobot has sold more than 1.5 million robots for cleaning floors and has deployed more than 300 tactical military robots in Iraq. Greiner recently gave a presentation at Wharton sponsored by the School's entrepreneurship and technology clubs after which she talked with Knowledge at Wharton about her company and the impact that robots have and will have on our everyday lives.
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Jan 30, 2023
The chairman of the largest software house in Ghana spoke approvingly of the "Wild West" aspects of doing business there. One of that country's cabinet ministers saw signs that "constitutional democracies are gaining roots" on the African continent. A prominent Nigerian lawyer spoke of profit margins all but impossible in the United States or Europe. These three panelists appeared recently at the 2005 Wharton Global Business Forum Africa Conference entitled "Unveiling the Value; Demystifying the Risk." Speakers described the continent as bursting with opportunities challenges and pitfalls for local and foreign companies but the emphasis was decidedly on the word "opportunity."
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Jan 30, 2023
Different points on the research spectrum were under the microscope at the Wharton Health Care Business Conference last month as two panels of biotech pharmaceutical and investment leaders discussed the state of R&D among big pharmaceuticals and the progress of stem cell research. While disappointing results in both sectors have dominated the news lately panelists at each session also noted some promising developments -- and causes for optimism -- in their respective fields.
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Jan 30, 2023
Cell phones that do email take photos and surf the web. Cars with options ranging from built-in satellite radio to rain-sensing wiper blades. While a seemingly endless variety of new products may delight consumers it makes inventory management as dicey as predicting what a teenager will want for her birthday next year. The problem say Wharton professor Serguei Netessine and Wharton doctoral student Serguei Roumiantsev is that no one knows how to measure the quality of supply chain management using companies' publicly available financial data. In a recent paper entitled "Should Inventory Policy Be Lean or Responsive? Evidence for U.S. Public Companies " the two researchers provide "a statistical methodology that links managerial decisions related to inventory with accounting returns."
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