Stephen Kobrin - Faculty Research in Knowledge@Wharton

'Finance & Accounting' for the Rest of Us: A Conversation with Richard A. Lambert

Fri, 18 Nov 2011 14:34:54 EST

Many managers are not comfortable reviewing the financial data that finance and accounting staffs provide them. Yet according to Wharton accounting professor Richard A. Lambert, financial statements reveal information that managers cannot afford to ignore because of what they show about a company's opportunities and risks. In his new book in the Wharton Executive Education Essentials Series, Lambert demystifies financial statements and shows managers how to use the data to create and refine strategy and make better long-term business decisions.

Peter Fader on Customer Centricity and Why It Matters

Fri, 18 Nov 2011 14:35:03 EST

Starbucks and Apple stocks have been trading at record highs, but are these and other businesses doing everything they can to ensure growth over the long term? Peter Fader, Wharton marketing professor and co-director of The Wharton Customer Analytics Initiative, argues that too many companies are customer friendly, but not customer centric. In other words, they treat each customer the same, missing an opportunity to discover who their most valuable customers are. In his new book, Customer Centricity, part of the Wharton Executive Education Essentials Series, Fader describes what customer centricity is, what it isn't and why it matters.

Paul J.H. Schoemaker's 'Brilliant Mistakes': Finding Opportunity in Failures

Wed, 09 Nov 2011 15:16:32 EST

Groupon's rejection of Google's bid. Subscription changes at Netflix. The New York City Schools' hiring of a former publishing executive. Do events like these, which were considered to be colossal mistakes by some, also have the opportunity to result in game-changing innovations? That is one of the questions that Paul J.H. Schoemaker, research director of Wharton's Mack Center for Technological Innovation, has been exploring throughout his career. In his new book, Brilliant Mistakes: Finding Success on the Far Side of Failure, Schoemaker identifies ways to take advantage of the opportunities that can flow from mistakes.

Parag Khanna on 'How to Run the World'

Wed, 13 Jul 2011 12:39:58 EST

Parag Khanna is a leading geo-strategist, world traveler and author of the international bestseller, The Second World: Empires and Influence in the New Global Order. Stephen J. Kobrin, Wharton management professor and publisher of Wharton Digital Press, recently spoke with Khanna about his latest book, How to Run the World: Charting a Course to the Next Renaissance.

China at a Crossroads: Trade Tensions Vie with Consumer Needs

Wed, 12 Jan 2011 13:16:54 EST

China's trade surplus is rising again and, with it, criticism of its handling of the renminbi. At the same time, China is facing the need to shift its focus from exports to serving its huge and growing middle class. Can it handle the transition, especially with inflation on the rise, real estate in a bubble and a demographic profile that increasingly resembles an inverted pyramid?

Sino-U.S. Trade Relations: 'They're Playing Football; We're Playing Baseball'

Wed, 10 Nov 2010 14:15:08 EST

While the dust settles on the U.S.'s midterm elections, questions abound about where the country's international trade and economic policies go from here. As it stands, the U.S. is squarely "at a disadvantage" with countries like China, argues economist Clyde Prestowitz, a former trade negotiator and author of The Betrayal of American Prosperity. Wharton management professor Stephen J. Kobrin and Knowledge@Wharton spoke with Prestowitz about the elections and beyond, how the U.S.'s economic leadership is being undermined, whether China's development is a threat or an opportunity, and what options President Obama has to take global economies off the path of "mutually assured destruction."

Man the Barricades: Is a Trade War on the Horizon?

Wed, 15 Sep 2010 15:42:34 EST

A sputtering economic recovery, chronically high unemployment and an escalating trade deficit -- that's enough to put some politicians in Washington on the war path. If they have their way, the U.S. will soon be making it harder for imports to enter the country. Whether their rumblings are the beginning of a new all-out trade war remains to be seen, but experts say there are a number of measures the U.S. as well as Germany and China -- the world's biggest exporters -- need to start taking now to ease growing trade frictions.

Supply and Sustainability: Piecing Together the Energy Puzzle

Wed, 14 Jul 2010 14:25:13 EST

The global energy sector is at a crossroads. Key issues such as a lack of energy independence, the security of energy supplies, and climate change have become important items on the agendas of governments everywhere. This has sparked a heated debate about the most appropriate energy mix in those countries that are considering the use of nuclear power and renewable energy, and in companies that are committed to tackling climate change. These issues were discussed during a panel session on the future of energy at the recent Wharton Global Alumni Forum in Madrid.

What Does the Drooping Book Business Need? How About a Jolt of Espresso?

Wed, 28 Apr 2010 14:56:07 EST

What if you could print a perfect-bound volume for as little time as it takes to brew a cup of coffee? That is the premise behind the Espresso book machine, which turns digital PDF files into paperbacks in minutes. Jason Epstein and Dane Neller, chairman and CEO respectively of On Demand Books in New York, the company behind the Espresso book machine, believe their technology has the potential to transform book publishing. Epstein, who was editorial director of Random House for 40 years, recently wrote a widely read essay in The New York Review of Books about the impact of digital technology on publishing. In an interview with Knowledge@Wharton and Stephen J. Kobrin, editor of Wharton School Publishing, Epstein and Neller discuss their views on where the publishing business is headed.

E-textbooks: The New Best-sellers

Wed, 03 Mar 2010 15:50:03 EST

While some students may be using notebooks or netbooks to read textbooks these days, some experts predict that within the next 10 years, most U.S. college students -- and many high-school and elementary-school students as well -- will probably be reading course materials on an electronic device instead of in a paper book. And that will have a broad impact on students and teachers, not to mention the $9.9 billion textbook-publishing business.

Paid vs. Free Content, Publishing Pains, Apple Tablets and All That ...

Wed, 03 Feb 2010 16:52:49 EST

Two recent events have rocked the publishing world. First, The New York Times said it would abandon the practice of providing free online content and start charging regular readers beginning in 2011. And second, Apple's much-hyped tablet -- the iPad -- made its appearance. What implications will the Times' decision have for newspaper publishers and other providers of free online content? How will the iPad re-define what a book means, as well as how it is produced, marketed and delivered? Wharton professors Peter Fader and Stephen Kobrin weigh in.

Why Economists Failed to Predict the Financial Crisis

Wed, 13 May 2009 16:53:27 EST

A sense that they failed to see the financial crisis brewing has led to soul searching among many economists. While some did warn that home prices were forming a bubble, others confess to a widespread failure to predict the damage the bubble would cause when it burst. Some economists are harsher, arguing that a free-market bias in the profession, coupled with outmoded and simplistic analytical tools, blinded many of their colleagues to the danger. A recent paper from a conference of economists calls for changes in the way they are trained.

Trade Wars: Will Protectionism Win out over Recovery?

Wed, 18 Feb 2009 17:51:20 EST

When governments around the world spend vast sums to stimulate their economies, it seems only reasonable for each to invest at home. Why should the American taxpayer pay for steel from Canada when U.S. steelmakers are struggling? So it was hardly a surprise that the $787 billion stimulus plan just signed by President Barack Obama included protectionist language. But economists and political leaders in the U.S., Europe and elsewhere worry that such sentiments threaten free-trade principles that are crucial to any global economic recovery.

Doha Debacle: What's Next for Global Commerce

Wed, 06 Aug 2008 17:31:38 EST

Progress toward unfettered international commerce stumbled last week with the collapse of the World Trade Organization's Doha talks, a seven-year effort to establish new global trade rules. The lengthy talks were complicated by the rapid emergence of China and India as major economic powers with commercial and strategic interests to protect, and the clout to do so. Many observers say the talks' collapse is a setback for poorer nations, which need access to larger markets in order for their economies to grow. Wharton professors Stephen Kobrin, whose research interests include globalization, and Marshall Meyer, an authority on China's economy, recently spoke to Knowledge@Wharton about the talks' collapse, global commerce and China's interest in the rules governing trade.

The New Global Middle Class: Potentially Profitable -- but Also Unpredictable

Wed, 09 Jul 2008 17:41:19 EST

A new global middle is rising up in emerging economies around the world, providing competition for labor and resources along with enormous promise for multinationals eager to sell to the burgeoning ranks of first-time consumers. But don't expect this new group to act in the same way -- and have the same preferences -- as prior generations of middle-class consumers, suggest Wharton faculty and analysts.

When Local Risks Become Global Risks, and How We Can Minimize Them

Wed, 21 Mar 2007 15:21:30 EST

Climate change. Middle East instability. International terrorism. Oil price shocks. Weapons of mass destruction. The world is fast becoming a riskier place, and the days of wait-and-see are no longer an option, says the World Economic Forum's recently released Global Risks 2007 report. The report, published in cooperation with Wharton's Risk Management and Decision Processes Center, identifies 23 core risks -- most of which have worsened over the last year, despite growing awareness of their consequences. It also underscores a growing disconnect between the power of these risks to disrupt the world and our ability to mitigate them.

Unwitting Exposure: Does Posting Personal Information Online Mean Giving Up Privacy?

Wed, 04 Oct 2006 14:39:32 EST

People who access the Internet for what have become routine functions -- sending emails, writing blogs, and posting photos and information about themselves on social networking sites -- do not realize how much of their personal privacy they put at risk, according to Wharton faculty and legal experts. Nor, they add, have the courts fully addressed the ways in which the Internet can be harnessed for questionable purposes that encroach on privacy.

Avian Flu: What to Expect and How Companies Can Prepare for It

Wed, 08 Mar 2006 16:27:20 EST

The avian flu that is steadily making its way around the globe represents a huge challenge for governments, corporations and citizens worldwide. No one knows what will happen to the avian influenza virus in the coming months and years. Will it mutate into a strain that will allow people to readily infect others? Or will it fizzle out? Despite the uncertainty, many people are taking into account scenarios ranging from mild to severe in order to plan for what could turn out to be a calamity. Faculty members at Wharton, health care professionals and risk consultants say it is important that companies assess how their organizations could be harmed by a pandemic and take preventive measures to mitigate the damage and keep their enterprises operating.

Delhi in Davos: How India Built its Brand at the World Economic Forum

Wed, 22 Feb 2006 16:56:24 EST

The emergence of China and India figured prominently at the World Economic Forum annual meeting in Davos last month. In India's case, however, another factor also was at work. Determined not to be overshadowed, Indian business and government leaders spent some two years and $4 million planning an elaborate branding campaign to ensure that the "India story" got prominent play and did not get lost amid the chatter at Davos. How does a country go about building its brand though such PR campaigns? And how can outcomes be measured to see if the campaign worked? Wharton professors who were at Davos and Indian business and government leaders say that while India's campaign at the summit was impressive, the country will now have to walk the talk on infrastructure investments and policy reforms if it wants to retain its credibility.

Cosmetics and Steel: How Two Companies Defied Conventional Wisdom by Going Global

Wed, 27 Jul 2005 12:01:48 EST

Estee Lauder Companies and Mittal Steel grew up in different industries, at different times, but their success in the global marketplace stems from their willingness to look beyond the business trends of their day. For Leonard Lauder, the strategy included premium pricing, selected distribution and a single international image. For Aditya Mittal, building a strong global customer base, instituting a unique manager integration program and achieving global purchasing power were key elements on the path to becoming the world's largest steelmaker. Both men were part of a strategy panel at the Wharton Global Alumni Forum 2005 held earlier this month in London. A third panelist, David Li, chairman of UBS China, discussed China's emergence as a major global player.

An End to Global Textile Quotas: Watch China Sew Up the Market

Wed, 09 Feb 2005 16:50:03 EST

On Jan. 1, the Multifiber Agreement -- which for 30 years let nations place quotas on the amount of textile and clothing imports allowed into their countries -- expired for members of the World Trade Organization, the multilateral global trade body. The elimination of global textile quotas is expected to drive garment production to China, benefiting consumers in North America and Europe at the expense of developing nations where apparel manufacturing has become a bridge to an industrial economy, according to Wharton faculty and other analysts.

Collapse in Cancun: The World Trade Agenda Gets Sidetracked

Wed, 24 Sep 2003 00:00:00 EST

If you took delegates from 146 countries � ranging from the poorest agricultural regions in Africa to the most affluent nations of Europe � and asked them to negotiate a trade agreement that would satisfy everyone, what are the chances they would succeed? Very slim, as the collapse of the world trade talks in Cancun earlier this month proved. Huge fault lines appeared between two general camps: The developing countries, who contended that the richer nations� agricultural subsidies are an unfair trading advantage, and the more advanced nations who sought new global rules that would help protect their economic interests. So what happened and where do we go from here?

The Trans-Atlantic Data Privacy Dispute

Wed, 12 Mar 2003 00:00:00 EST

Few issues have fueled more transatlantic distrust than the ongoing dispute between the European Union and the United States about data privacy. Wharton management professor Stephen J. Kobrin probes the often overlooked roots of the controversy in his report, �The Trans-Atlantic Data Privacy Dispute, Territorial Jurisdiction and Global Governance.� Resolving the issue will be especially challenging, he notes at one point, because the two sides are divided, not by tactical or strategic considerations, but by fundamental differences over the role of government and the meaning of privacy.

Testing His Metal � and His Motives: Bush�s Steel Tariffs Spark an Uproar

Wed, 13 Mar 2002 00:00:00 EST

When President Bush imposed tariffs on steel imports March 5, the White House characterized it as a deft compromise, balancing the needs of the troubled American steel industry with the free-market principles the president has so strongly espoused. Not everyone � in fact, hardly anyone � agrees with this assessment. Already a number of foreign steel producers have filed formal complaints with the World Trade Organization.

The New Business Reality

Wed, 30 Jan 2002 00:00:00 EST

ideas about what effect those events would have on business and the economy. It was clear, however, that even before the attacks, major changes were underway that would alter the business landscape. To help understand these changes, Wharton�s Aresty Institute of Executive Education held a three-day symposium in December called Wharton on the New Business Reality: Scenarios and Strategies for the Future. Knowledge@Wharton covered the symposium.

Up for Sale: How Best to Protect Privacy on the Internet

Mon, 19 Mar 2001 14:05:34 EST

By reading this article, you are providing large amounts of personal information to companies that are free to sell it, share it or use it to make decisions that affect your well-being. How can policy makers protect consumers from privacy violations and still allow companies to benefit from the information age? Join the debate over legislation vs. self-regulation.

Stephen King�s Novel Idea: Will It Change the Publishing Industry?

Wed, 16 Aug 2000 12:10:17 EST

When fictional horror writer Stephen King decided to offer installments of his new novel �The Plant� on the world wide web, it struck real-life horror in the hearts of some members of the publishing industry. What will this mean for writers, editors and publishers and for the sacredness of intellectual property law? A number of experts contacted by Knowledge@Wharton suggest that publishing is indeed coming to the Internet but they doubt that �The Plant� portends an earth-shattering shift in the way people buy and sell books.

Gore and Bush on the Issues: Long on Assumptions, Short on Details

Wed, 19 Jul 2000 14:03:01 EST

When Gov. George W. Bush and Vice President Al Gore wrap up their nominating conventions in the next few weeks they will get back to campaigning in earnest, and voters are sure to hear plenty of talk about the state of the U.S. economy, the future of Social Security, health care, electronic commerce and foreign trade, among other issues. But so far, the candidates for the American presidency have been somewhat vague on the details. Wharton professors analyze what�s been said so far, and what hasn�t.

Can the Music Industry Tune Out Napster?

Wed, 05 Jul 2000 14:31:25 EST

Given that approximately 13 million Americans have downloaded songs off the Internet for free, does the music industry stand a chance in its suit against Napster, the company that allows computer users to trade their digital music collections without regard for copyright laws? Legally it probably does, say Wharton observers. But the bigger issue, they add, is how the whole digital revolution is slowly changing the way we think about intellectual property.

E-commerce: The Case of the Missing Tax Revenues

Wed, 27 Oct 1999 14:38:25 EST

From the comfort of her living room, a consumer in Singapore can buy goods from a retailer in Connecticut. From his office in Bangalore, India, a programmer can install, via the Internet, a software upgrade to a computer in a New York City bank. While e-commerce opportunities for consumers and businesses alike are burgeoning, the phenomenon is creating one big headache for tax collectors. State and local governments, for example, are faced with a huge loss in revenues because there is no international tax organization to collect sales or income tax on most Internet-based transactions. Stephen J. Kobrin, director of Wharton�s Lauder Institute, examines this aspect of electronic commerce.

The Limits of Privacy

Mon, 24 May 1999 16:57:46 EST

Most people instinctively cherish the right to privacy. But should individuals' right to privacy be restricted for the public good? In a lecture organized by Wharton's SEI Center for Advanced Studies in Management, Amitai Etzioni, author of The Limits of Privacy, asks whom people should fear most: the Mafia, the FBI...or Microsoft?