Business School Professors and Top Salaries

Ten Business School Professors Who Make $4.3 Million A Year
Jul 11, 2013

https://www.linkedin.com/pulse/20130711161733-17970806-ten-business-school-professors-who-make-4-3-million-a-year

Business School Professors Have to Transform into Movie Directors and Students Have to be made into Actors

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.

Business School Professors Should Be Like Movie Directors
Olaf Groth,Mark Esposito,Terence Tse
Harvard Business Review
MAY , 2014
https://hbr.org/2014/05/business-school-professors-should-be-like-movie-directors

Questions for Ideas for Innovation - New Patterns of Innovation

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.

In
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

State Capitalism - Ian Bremmer

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

Building Reputation Points

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

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


Industrial Engineering Knowledge Center

Leaders Must be Spriritual

Spirituality is about inner engineering, transforming oneself from inside. Global financial crisis has exposed the spiritual bankruptcy of many corporate executives.

There is excessive focus on personal financial gains and not enough concern for making a difference to the society.

Spiritually rooted leaders do not see a conflict between the profit mission and the social mission.

Vijay Govindrajan
Professor
Tuck School of Business at Dartmouth and
Chief Innovation Consultant at General Electric

Author of Ten Rules of Strategic Innovators

In an article "A Whole New Phase", in Corporate Dossier, The Economic Times, 9 January 2009, Page 2

Ethical Norms for Marketing

Marketers must do no harm. This means doing work for which they are appropriately trained or experienced so that they can actively add value to their organizations and customers. It also means adhering to all applicable laws and regulations and embodying high ethical standards in the choices they make.

Marketers must foster trust in the marketing system. This means that products are appropriate for their intended and promoted uses. It requires that marketing communications about goods and services are not intentionally deceptive or misleading. It suggests building relationships that provide for the equitable adjustment and/or redress of customer grievances. It implies striving for good faith and fair dealing so as to contribute toward the efficacy of the exchange process.

Marketers must embrace, communicate and practice the fundamental ethical values that will improve consumer confidence in the integrity of the marketing exchange system. These basic values are intentionally aspirational and include honesty, responsibility, fairness, respect, openness and citizenship.

American Marketing Association
http://www.marketingpower.com/AboutAMA/Pages/Statement%20of%20Ethics.aspx

Lean Management and Head Count Reduction

Don't bring in lean management to reduce head count in financial crisis periods.

Duing financial crisis, the best approach is to deal with any necessary headcount reductions first and then try lean methods.

James P Womack
Lean Enterprise Institute

In an interview in Mint, Campaign, 25 August 2008

Produce Good Managers

You have to produce good managers before you can produce good products.

James P Womack
Lean Management Institute

Interview published in Mint Campaign, 25 August 2008

Core Competence

A core competence is a combination of complementary skills and knowledge bases embedded in a group, or team, that results in the ability to execute one or more, critical processes to world-class standard.

Kevin P. Coyne, Stephen J.D. Hall, and Patricia Gorman Clifford, “Is Your Core Competence A Mirage”, The McKinsey Quarterly, Number 1, 1997.

Lean Thinking

What is the starting point of becoming lean?

The starting point is to acquire a completely new perception of what is value, and what is waste. I don't like the word waste because it is not horrible enough. I use the Japanese word muda. Muda sounds awful. You don't want muda. You need to acquire a new set of glasses-I call them muda glasses-that allows you to see all the way.


Daniel T. Jones, Author of the book, Lean Thinking,1996

In an interview published in Business Today (India), December 7-21, 1997, p.98.

Moral Common Sense

A. Avoid harming others
B. Respect the rights of others
C. Do not lie or cheat
D. Keep promises and contracts
E. Obey the law
F. Prevent harm to others
g. Help those in need
H. Be fair
I. Reinforce these imperatives in others

K.E. Goodpaster
Ethics in Management
Harvard Business School Press
1984
P.6


Discussed in the article "Corporate Ethics and International Business: Some Basic Issues - Part I" by Klaus M. Leisinger, Novartis Foundation for Sustainable Development, Hong Kong, June 2nd, 1994.

Dark Side of the MBA culture

"The "dark side" of the MBA culture is the attitude that demands bending the rules"

says Santa Clara's Hanson, who taught ethics at Stanford -- where, incidentally, one of the Enron board members, Robert Jaedicke was B-school dean from 1983 to 1990.

Article
Where Can Execs Learn Ethics?
Business Week Online
13 June 2002

http://www.businessweek.com/bwdaily/dnflash/jun2002/nf20020613_6153.htm

Ethics - Students

"Unless the entire faculty owns the ethics agenda, it's not going to work."



Kenneth Goodpaster
Professor
University of St. Thomas' elite College of Business



A statement in the article,
Corporate scandal as a teaching moment: business school aims to make ethics a flagship, not a fig leaf, of curriculum - Catholic Colleges And Universities - University of St. Thomas' College of Business
http://findarticles.com/p/articles/mi_m1141/is_1_39/ai_94079375

Business Ethics

"The workplace is a school for ethics,'' "Ethics education goes on throughout one's life and it's not over at any point; it keeps going all the way to the grave.''


Kenneth Goodpaster, Koch Endowed chair in business ethics at St. Thomas, said that faculty at universities and colleges must take "ownership'' of the importance of integrity. In addition, he said, people's success should not be measured solely by income level or ranking at a Fortune 500 company but rather by their ethical agenda.

http://www.cebcglobal.org/Newsroom/News/News_110403.htm

Kenneth Goodpaster is author of the book, Ethics in Management, published by Harvard Business School Press in 1984.

Setbacks are a natural part of life

If you really believe what you're doing, you've got to persevere even when you run into obstacles. When I finished sulking (about the setback), I doubled my efforts and worked even harder. In a few months I had my old job back. Setbacks are a natural part of life, and you've got to be careful how you respond to them. If I had sulked too long, I probably would have got my self fired.

Lee Iacocca

Autobiography 1984

Using your time well

the ability fo concentrate and to use your time well is everything if want to succeed in business-or almost anywhere else, for that matter. Ever since college I've always worked hard during the week while trying to keep my weekends free for family and recreation. Except for periods of real crisis I've never worked on Friday night, Saturday or Sunday. Every Sunday ngiht I get the adrenalin going again by making an outline of what I want to accomplish during the upcoming week.

If you want to make good use of your time, you've got to know what's most important and then give it all you've got.

Lee Iacocca
An Autobiography 1984

Knowledge Management - Practice based Espistemology

1. Knwoledge sharing/acquisition requires 'perspective making' and 'perspective taking'-developing an understanding of tacit assumptions.

2. knowledge sharing/acquisition through
-'rich' social interaction
-immersion in practice-watching and or doing.

3. Management role to facilitate social interaction.

Donald Hislop

Knowledge Management in Organizations
Oxford University Press
2005

Knowledge Management - Objectivist Perspective

Convert tacit to explicit knowledge

Codification/capture of relevant knowledge

Collect knowledge in a central repository

Structure/systematize knowledge into discrete categories

Technology plays a key role