articles 11 to 20 of 87
Errors and omissions of the most ordinary and preventable kind kill thousands of patients every year in hospitals throughout the developed and developing worlds. A simple solution exists to this problem, argues Atul Gawande in his most recent book, The Checklist Manifesto: How to Get Things Right.
A surgeon and a journalist, Gawande shows just how effective checklists can be to reduce the damage caused by human fallibility in industries including medicine, construction, aviation and others where the work environment depends on complicated processes, technology and equipment. So why aren't checklists used in every operating room and ICU? The answer is simple: In the existing medical establishment, too many doctors don't like to be told what to do. Add one more box to the checklist -- the need for cultural change.
From: June 11, 2010
Toyota's legendary lean production system emerged after World War II and transformed the auto industry. Since then, lean principles have moved into every area of an organization and every industry. One Wharton professor remembers trying to talk with hospitals about lean initiatives several years ago. "They thought I was evil. They said, 'We're doctors. We help people. We are not Toyota!' Now these same institutions have chief medical officers saying, 'We want to run this place like Toyota!'"
From: November 11, 2009
Every company wants to improve the efficiency and cost-effectiveness of its supply chain, but what's the best way? Since 2004, the United States Defense Department has required its suppliers to adopt performance-based contracting so that it pays them a fee based on the amount of time big-ticket items like F-22 fighter jets are in use without requiring repairs. But is that better value than more traditional contracts that charge customers for time and materials when products break down? According to a new study co-authored by Wharton researchers, the answer is yes.
From: October 14, 2009
The Long Tail theory suggests that the Internet drives demand away from hit products with mass appeal, and directs that demand to more obscure niche offerings. Yet a new research paper by Wharton professor Serguei Netessine and doctoral student Tom F. Tan challenges that theory using data from the movie rental company Netflix.
From: September 16, 2009
The sign above the entrance may say Macy's, Nordstrom or Neiman Marcus, but the salespeople at the cosmetics counters inside do not work for the store at all. Instead, they are employed by brand name cosmetics manufacturers which lease space from the marquee retailers. In an arrangement that is common in stores across Asia and in other parts of the world, U.S. department store retailers often cede the cosmetics category to branded manufacturers in return for fees paid to occupy prime retail real estate. New Wharton research looks into the dynamics of this model.
From: September 02, 2009
After being stung by consumer backlash and stiffer penalties for piracy, counterfeiting and contamination, China is working hard to overcome its reputation for poor quality. Many experts see quality issues as the simple growing pains of an accelerating economy. After all, China already makes high-quality products such as iPods. The challenge today for foreign partners: How to set and enforce effective quality benchmarks.
From: June 03, 2009
China is slowly moving away from energy subsidy policies that hold down prices -- especially for industry. Those subsidies protected exporters from devastation when energy prices shot up to record-setting levels in 2008 and helped to keep social unrest somewhat under wraps. No one knows for sure how far China will go in reducing energy subsidies for business in the future, but China could use subsidy policies as a tool in pushing particular industries away from low-value exports that generate a lot of waste to higher-value goods that produce less waste.
From: June 03, 2009
Pay attention to the first-half scores in the early rounds of the NCAA basketball tournament, which began yesterday with 64 college teams vying for the National Collegiate Athletic Association championship. According to recent research by a pair of Wharton professors, teams that trail by a little at the half actually have a better chance of winning the game than the squad in the lead. The findings, they say, apply to the business world, too.
From: March 18, 2009
Rising energy demand from China and India has unleashed a worldwide race to secure access to scarce fossil fuel resources, a more difficult proposition with the emergence of national oil companies in the resource-owning countries. While Western companies will likely feel the pain of increasing energy costs, there is a potential upside to global energy scarcity, according to experts from Wharton and The Boston Consulting Group: Renewable and nuclear energy present huge opportunities for investors and entrepreneurs.
From: September 22, 2008
These days, when the U.S. Department of Defense buys a fighter jet from Lockheed Martin, it doesn't simply pay Lockheed for the physical product. Instead, the government has a "performance-based contract" with the defense supplier, according to Serguei Netessine, professor of operations and information management at Wharton. This contract says, in effect, that the government's reimbursement to Lockheed hinges on the jets' performance -- that is, how often the planes are able to fly. In this interview, Netessine describes how performance-based contracts are becoming more common in a variety of industries.
From: July 14, 2008
results at a time