Professors must think of themselves as experiential movie directors for a production of Global Business in the Networked Economy, orchestrating and coaching a multinational cast of actors through experiments – and stepping off of the stage for a broader purview.
The classroom should be more akin to one big reality game that simulates a market or industry. It could imitate the lifecycle of a real firm with different stages running for an entire one- or two-year MBA program.
Script and direct large-scale complex simulations.
Tested ways of framing the search for ideas exist.
One is competency based: It asks, How can we build on the capabilities and assets that already make us distinctive to enter new businesses and markets?
Another is customer focused: What does a close study of customers' behavior tell us about their tacit, unmet needs?
A third addresses changes in the business environment: If we follow "megatrends" or other shifts to their logical conclusion, what future business opportunities will become clear?
We'd like to propose a fourth approach. It complements the existing frameworks but focuses on opportunities generated by the explosion in digital information and tools. Simply put, our approach poses this question: How can we create value for customers using data and analytic tools we own or could have access to? Over the past five years, we've explored that question with a broad range of IBM clients. In the course of that work, we've seen advances in IT facilitate the hunt for new business value in five distinct -- but often overlapping -- patterns.... We believe that by examining them methodically, managers in most industries can conceive solid ideas for new businesses.
The New Patterns of Innovation. By: Parmar, Rashik, Mackenzie, Ian, Cohn, David, Gann, David, Harvard Business Review, 00178012, Jan/Feb2014, Vol. 92, Issue 1/2
The objective of state capitalism is to control the wealth that markets generate by allowing the government to play a dominant role through public sector companies and politically loyal corporations. Whereas the free market system’s motive of maximizing profits and growth is economic, state capitalism’s goal is political:
to control economic development and thereby maximize the incumbent regime’s chances of survival. It isn’t a coherent philosophy but a set of techniques peculiar to each country.
In New Rules of Globalization, Harvard Business Review, January - Feb, 2014
Experts at Wharton say the success of a corporte reputation reclamation project depends on the company's image when a crisis hits.
Thomas Donaldson, Wharton Professor of legal studies and business ethics says "The starting point matters a lot. The old saying that a reputation takes years to accumulate, but can be destroyed overnight, is only half true. If you have a good reputation, you are given the benefit of doubt. If a company has a bad reputation, it gets the detriment of the doubt."
From an Article form knowledge@Wharton, 2007
Reprinted in Corporate Dossier, Economic Times, India,as
Can't Run, Can't Hide
5 October 2007
Industrial engineering may be defined as the art of utlizing scientific principles, psychological data, and physiological information for designing, improving, and integrating industrial, management, and human operating procedures - Gerald Nadler
Industrial Engineering is Human Effort Engineering and System Efficiency Engineering - Narayana Rao