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Pure + Simple Technology
When the Walkman Roamed
Yesterday marked the 30th anniversary of the introduction of the Walkman portable music player. Was it also Sony's last game-changing innovation?
Giving It Away
Chris Anderson, editor of Wired magazine, extols the market power of giving your product away in his new book, Free: The Future of a Radical Price. But another trend-spotting author, Malcolm Gladwell, pokes holes in the argument.
Regret Insurance at Sears
Worried that you might lose your job after buying that new refrigerator? Sears has a deal for you.
Hollywood's Peter Guber: Spinning Memos into Tales
Mandalay Entertainment Group chairman Peter Guber, who produced popular movies such as Shampoo, The Way We Were and Taxi Driver, knows a thing or two about telling stories. At the recent Wharton Leadership Conference, he argued that storytelling can be an effective leadership tool. In a separate podcast interview with Steve Ennen, managing director of the Wharton Interactive Media Initiative, Guber explains why in a corporate setting, stories are more memorable and engaging than slide presentations, memos or sales pitches.
Jeremy Siegel: 'The Market Will Stage Another Recovery'
Now that it's clear the recession will not turn into a depression, stocks are poised for a recovery, says Wharton finance professor Jeremy J. Siegel. In an interview with Knowledge@Wharton, he said last week's market decline in response to rising commodity prices -- especially for energy -- and fear of the ever-growing federal deficit was no more than a short-term setback.
Peter Guber on Sharing Stories, not Just Information, to Communicate Effectively
Do you want to communicate a corporate message effectively? Turn it into a story, says Mandalay Entertainment Group chairman Peter Guber. He argues that stories are more memorable and engaging than slide presentations, memos or sales pitches.
The New Role of Risk Management: Rebuilding the Model
Risk managers armed with the most sophisticated quantitative tools available did not foresee the biggest development in a generation -- the systematic breakdown and global contagion of financial markets. In an interview with Knowledge@Wharton, John Drzik, president and CEO of the Oliver Wyman Group, Richard J. Herring, a finance professor at Wharton, and Francis X. Diebold, a Wharton professor of economics, finance and statistics, discussed how to build a more informed risk management model. All three took part in the recent Wharton Financial Institutions Center and Oliver Wyman Institute 12th Annual Financial Risk Roundtable 2009.
'Mustaches for Kids': Charities Adopt Private Sector Models to Tap New Funds
In the wake of the global financial crisis, social enterprises are hastening their transition from the traditional donor model to rely more on market mechanisms long established in the private sector. In so doing, organizations hope to not only survive the current recession, but also to create a foundation for long-term sustainability, say Wharton faculty and executives at non-profit institutions.
DuPont CEO Ellen Kullman's Four Principles for Moving Ahead during Turbulent Times
CEO Ellen Kullman has had to balance the need for immediate action to maintain DuPont's financial stability during the ongoing financial crisis, while focusing on strategic objectives that would preserve the 200-year-old company's leading market position in the future. Among the highest hurdles: Communicating with -- and motivating -- employees. Kullman was a guest speaker at the recent Wharton Leadership Conference, whose theme was: "Leading in a Dynamic and Unpredictable World."
One Way to Lower Health Costs: Pay People to Be Healthy
When employers want their employees to live healthier lifestyles -- to lose weight, stop smoking and exercise regularly -- nothing works like cash, according to research led by Wharton faculty. While some may wince at the notion of paying people to do the right thing, the research found that the incentives cost less than the diseases they prevent.
Innovation: Sometimes It Takes a Village
Companies have formed alliances and strategic partnerships for hundreds of years, but experts gathered for a recent conference at Wharton's Mack Center for Technological Innovation said such connections are more important than ever in a fast-changing business environment. Still, because more innovation networks fail than succeed, companies may have to alter their culture to make these critical alliances work.
Obama's Regulatory Plan: Too Hot, Too Cold, or Just Right?
Five months into his administration, President Barack Obama on June 17 unveiled his complex, sweeping financial proposals to create a "21st century regulatory framework" for the U.S. The proposed regulations give the Federal Reserve more power to watch over Wall Street and also create a new agency to curb abuses by mortgage and credit card lenders. Wharton professors and other experts say that while the new framework does not hamper financial innovation, it is also "too timid" and fails to address serious problems.
Raghda Shaheen: Bridging Two Worlds -- America and The Middle East
Raghda Shaheen, who works for the Dubai International Finance Centre, recently completed a four-week business and legal fellowship program at Wharton and the University of Pennsylvania law school. The program, funded by the U.S. Department of State Middle East Partnership Initiative (MEPI) and supported by America-Mideast Educational and Training Services (AMIDEAST), teaches management, business and legal skills to women from the Middle East and North Africa. This year, 22 women from 11 countries attended the program. Shaheen will spend the next three months working at the Chicago Chamber of Commerce before returning to the UAE. She spoke with Knowledge@Wharton about her experiences in Gaza City, Canada, the U.S. and the Middle East
Neel Kashkari on the Financial Crisis: 'Our Nation Will Emerge Stronger' Q&A
On May 18, Neel Kashkari, former interim head of the Treasury Department's Office of Financial Stability, spoke at Wharton's San Francisco campus. The speech covered his views on the causes of the crisis; the reasons why the Treasury Department had to seek authority to set up a $700 billion bailout program; how that authority was used to keep the financial system from collapsing; and where the economy is headed. After the lecture, Kashkari discussed these issues with members of the audience. Knowledge@Wharton presents a transcript of the question and answer portion of this event.
Neel Kashkari on the Financial Crisis: 'Our Nation Will Emerge Stronger'
On May 18, Neel Kashkari, former interim head of the Treasury Department's Office of Financial Stability, spoke at Wharton's San Francisco campus. The speech covered his views on the causes of the crisis; the reasons why the Treasury Department had to seek Congressional authority to set up a $700 billion bailout program; how that authority was used to keep the financial system from collapsing; and where the economy is headed. After the lecture, Kashkari discussed these issues with members of the audience. Knowledge@Wharton presents a video report of the lecture and discussion.
Warning: Big Financial Firms May Be Riskier Than They Appear
Large financial institutions have failed with much higher frequency than is generally perceived, says Andrew Kuritzkes, a partner at Oliver Wyman and head of the management consulting firm's public policy practice in North America. In this interview with Knowledge@Wharton, Kuritzkes suggests some new guidelines that would greatly improve the financial system's ability to absorb the inevitable, if individually unpredictable, shocks of big failures.
Leaving 'Friendprints': How Online Social Networks Are Redefining Privacy and Personal Security
A generation is growing up with social networking web sites such as Facebook and MySpace, casually posting accounts of their lives for their friends -- and the world -- to see. Few of these users realize that the information they post, when combined with new technologies for gathering and compiling data, can create a fingerprint-like pattern of behavior. The information provides opportunities not only for legitimate businesses, but also for identity thieves and other predators, according to faculty at Wharton and elsewhere.
Ten Commandments from Entrepreneurial 'Evangelist' Guy Kawasaki
Venture capitalist, consultant and former Apple software "evangelist" Guy Kawasaki talked about "the art of innovation" during a recent visit to the University of Pennsylvania. He offered 10 rules for entrepreneurs and innovators. Among them: Make meaning, not money.
So You Think Owning a Home Will Make You Happy? Don't Be Too Sure
Owning a home has long been viewed as the cornerstone of the American Dream, the foundation for a happy family life and long-term financial security. Now, a new research paper challenges that conventional wisdom. Wharton's Grace Wong Bucchianeri, a professor of real estate, says her research shows that while homeowners experience significant joy, they also face more aggravation, spend less time with friends, and are even heavier than renters living in comparable homes.
Information Technology: Not a Cure for the High Cost of Health Care
Advocates and policymakers often argue or assume that applying a new form of information technology (IT) will save money and improve the quality of health care. But there are some who are not so certain, especially about IT's cost-cutting promise. One Wharton professor argues that IT could actually raise costs because of culture clashes, training, the implementation of the systems and the labor required to maintain the new technology.
How Hyundai Sells More When Everyone Else Is Selling Less
In 2008 -- a brutal year for the auto business -- Hyundai Motor's global unit sales rose 2%, lifting revenues by 5%. In the first three months of this year, the South Korean automaker's global market share rose to 4.7%, compared to 4% a year earlier. With industry-leading guarantees, an intense focus on quality and a program to reassure buyers worried about their economic future, the once-derided company has won hearts -- and business.
The Pink Prescription: Facing Tomorrow's Challenges Calls for Right-brain Thinking
In a world where jobs can be sent overseas, tasks can be automated and the feverish pace of technology can render even last year's innovation obsolete, students will have to learn how to think differently than their parents in order to survive and prosper, says Daniel H. Pink, author of three bestselling books about the changing work environment. He spoke at the recent Wharton Evolution of Learning Symposium.
Economic Recovery: Are Happy Days Here Again?
Stocks have rebounded on Wall Street during the past two months. The pace of job losses seems to be slowing down. Even quarterly reports from banks suggest that the banking sector is slowly struggling back to its feet. Do these signs portend the first indicators of an economic recovery? Not yet, according to experts at Wharton and elsewhere, who insist that despite some of the hopeful data, the recovery will be weaker and take longer to gain momentum than past slowdowns.
