Strategic Management
Avoiding the Agony of a 'Bogey': Loss Aversion in Golf -- and Business
Tiger Woods and other golf superstars who stand to win millions on inch-long putts apparently are subject to the same fear and aversion to risk that can afflict investors and managers. According to new research by two Wharton faculty members, even the best golfers systematically miss the opportunity to score a "birdie" -- when a player sinks a ball in one stroke less than the number of expected strokes for a given hole -- out of fear of having a "bogey" -- or taking one stroke more than what is expected. Playing it safe, however, has its own costs -- in golf and in business, the researchers say.
Saturn: A Wealth of Lessons from Failure
General Motors' decision earlier this month to scrap its Saturn brand triggered frequent retellings of the many ways in which GM missed an opportunity to recast itself and the auto industry. But other manufacturers did adopt some of Saturn's innovations, according to Wharton faculty. Indeed, they say, the Saturn story provides a roadmap for what to do --- and what not to do -- as the auto industry adjusts to the post-financial crisis world.
Comcast and NBC Universal: The Rise of a Content King?
Philadelphia-based Comcast, the largest cable company in the U.S., has made a bid to merge its operations with NBC Universal -- home to the NBC television network, Universal Studios and popular cable channels including Bravo, USA, CNBC and MSNBC. If the deal goes through, it would create a programming giant, allowing Comcast to produce and distribute content throughout its cable networks and on web sites such as Hulu, which is partially owned by NBC Universal. Steve Ennen, managing director of the Wharton Interactive Media Initiative, spoke with Wharton marketing professor Pete Fader and Ken Shropshire, professor of legal studies and business ethics, about what the deal could mean for content distribution and for consumers.
The Disney/Marvel Marriage: Will They Live Happily Ever After?
Trying to picture the edgy, ultra-macho characters of Marvel Comics (like Spider-Man or the Hulk) teaming up with Walt Disney's fairy tale princesses and cheery spokesmouse is not an easy task. Nonetheless, Wharton faculty and entertainment analysts predict Disney's $4 billion acquisition of Marvel will overcome some major challenges and allow the company to instantly enter a key market where, as of now, it has made few inroads.
Managing in an Upturn: Focus on Customers and Keep Expectations Low
Even as a stream of new economic data is holding out hope for a sustained economic recovery, executives know there are no guarantees against a sudden relapse. Given this situation, how can managers take advantage of positive economic signs without jeopardizing their business should tougher times return? Wharton faculty and others offer advice on how to manage in, and profit from, a slowly recovering -- but still uncertain -- economy.
'Locals,' 'Cosmopolitans' and Other Keys to Creating Successful Global Teams
Global teams are like oceans: Depending on how they are navigated, they can link the world together or split it apart. When global teams work, they tap into a company's top talent, exploit local expertise, unite far-flung groups and ramp up worldwide production. When they don't, they are divisive, spark massive miscommunication and drive global projects into the ground. Knowledge@Wharton offers a best practices guide for global teams.
Globalization of Technology Ventures: Lessons from Israel
Technology is universal, and technology markets are relatively culture-insensitive. Still, the fact remains that surprisingly few high-tech startups that were conceived outside the U.S. or the world's primary technology markets have evolved into global companies. Why is that so? In this opinion piece, Gideon Tolkowsky, principal of Israel-based BME Capital Management, who has been involved in venture capital in the U.S. and Israel for more than 25 years, offers some lessons from Israeli high-tech startups.
Eyes Wide Open: Embracing Uncertainty through Scenario Planning
As a result of the global financial crisis, more and more companies are being forced to make decisions in complex and uncertain environments. According to experts from Wharton and elsewhere, this is a good time for executives to use so-called scenario planning techniques. These exercises anticipate various future scenarios and develop strategic responses to each of them. As a result, experts say, even if executives can't predict the future, they can at least be better prepared for it.
How a Little 'Friction' Can Change a Competitive Landscape
When developing business strategies, it is wise to think about "frictions," the forces that make it difficult for buyers and sellers to connect. Those elements -- location, convenience or lack of information -- help explain how different firms, such as a small local retailer and a national store, can coexist in the marketplace, according to research by Wharton management professor Olivier Chatain and an INSEAD colleague.
'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.
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Tiger Woods and other golf superstars who stand to win millions on inch-long putts apparently are subject to the same fear and aversion to risk that can afflict investors and managers. According to new research by two Wharton faculty members, even the best golfers systematically miss the opportunity to score a "birdie" -- when a player sinks a ball in one stroke less than the number of expected strokes for a given hole -- out of fear of having a "bogey" -- or taking one stroke more than what is expected. Playing it safe, however, has its own costs -- in golf and in business, the researchers say.
Saturn: A Wealth of Lessons from Failure
General Motors' decision earlier this month to scrap its Saturn brand triggered frequent retellings of the many ways in which GM missed an opportunity to recast itself and the auto industry. But other manufacturers did adopt some of Saturn's innovations, according to Wharton faculty. Indeed, they say, the Saturn story provides a roadmap for what to do --- and what not to do -- as the auto industry adjusts to the post-financial crisis world.
Comcast and NBC Universal: The Rise of a Content King?
Philadelphia-based Comcast, the largest cable company in the U.S., has made a bid to merge its operations with NBC Universal -- home to the NBC television network, Universal Studios and popular cable channels including Bravo, USA, CNBC and MSNBC. If the deal goes through, it would create a programming giant, allowing Comcast to produce and distribute content throughout its cable networks and on web sites such as Hulu, which is partially owned by NBC Universal. Steve Ennen, managing director of the Wharton Interactive Media Initiative, spoke with Wharton marketing professor Pete Fader and Ken Shropshire, professor of legal studies and business ethics, about what the deal could mean for content distribution and for consumers.
The Disney/Marvel Marriage: Will They Live Happily Ever After?
Trying to picture the edgy, ultra-macho characters of Marvel Comics (like Spider-Man or the Hulk) teaming up with Walt Disney's fairy tale princesses and cheery spokesmouse is not an easy task. Nonetheless, Wharton faculty and entertainment analysts predict Disney's $4 billion acquisition of Marvel will overcome some major challenges and allow the company to instantly enter a key market where, as of now, it has made few inroads.
Managing in an Upturn: Focus on Customers and Keep Expectations Low
Even as a stream of new economic data is holding out hope for a sustained economic recovery, executives know there are no guarantees against a sudden relapse. Given this situation, how can managers take advantage of positive economic signs without jeopardizing their business should tougher times return? Wharton faculty and others offer advice on how to manage in, and profit from, a slowly recovering -- but still uncertain -- economy.
'Locals,' 'Cosmopolitans' and Other Keys to Creating Successful Global Teams
Global teams are like oceans: Depending on how they are navigated, they can link the world together or split it apart. When global teams work, they tap into a company's top talent, exploit local expertise, unite far-flung groups and ramp up worldwide production. When they don't, they are divisive, spark massive miscommunication and drive global projects into the ground. Knowledge@Wharton offers a best practices guide for global teams.
Globalization of Technology Ventures: Lessons from Israel
Technology is universal, and technology markets are relatively culture-insensitive. Still, the fact remains that surprisingly few high-tech startups that were conceived outside the U.S. or the world's primary technology markets have evolved into global companies. Why is that so? In this opinion piece, Gideon Tolkowsky, principal of Israel-based BME Capital Management, who has been involved in venture capital in the U.S. and Israel for more than 25 years, offers some lessons from Israeli high-tech startups.
Eyes Wide Open: Embracing Uncertainty through Scenario Planning
As a result of the global financial crisis, more and more companies are being forced to make decisions in complex and uncertain environments. According to experts from Wharton and elsewhere, this is a good time for executives to use so-called scenario planning techniques. These exercises anticipate various future scenarios and develop strategic responses to each of them. As a result, experts say, even if executives can't predict the future, they can at least be better prepared for it.
How a Little 'Friction' Can Change a Competitive Landscape
When developing business strategies, it is wise to think about "frictions," the forces that make it difficult for buyers and sellers to connect. Those elements -- location, convenience or lack of information -- help explain how different firms, such as a small local retailer and a national store, can coexist in the marketplace, according to research by Wharton management professor Olivier Chatain and an INSEAD colleague.
'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.
Articles 1 to 10 of 255 More >>