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Forty years ago, economist William Sharpe rattled Wall Street when he balanced risks and rewards mathematically. At first seen as heretical and later as “commanding,” his capital asset pricing model (CAPM) earned him the Nobel prize in 1990. Succeeding generations of distinguished scholars have continued to tweak the model and debate it, among them Tuck Professor Jonathan Lewellen.
Why are some firms more successful than others? How do firms differ and why does it matter? In strategy research, the issue of heterogeneity among firms is critical. If all firms were the same, and they all operated in a similar business context, they would all be equally successful. Since this isn't true, then either the firms themselves have to be different or the business context in which they operate must be.
Richard D’Aveni and former Tuck professor Koen Pauwels have come up with a new method to uncover the nature and structural changes of competition in fast-changing markets.
Kusum Ailawadi has run the numbers—lots of numbers—and discovered that the best defense is fine-tuned for individual stores and categories.
The economy is in a major downturn, and supermarket prices for products ranging from milk and eggs to shampoo and laundry detergent are up 20 to 70 percent compared to a year ago. Just the kind of environment in which consumers tend to shift from national brands to significantly lower priced private labels, and at a time when private labels are already seeing a worldwide surge in availability and market share.
Paul Argenti envisions a new role for corporate communications following an epic collapse of trust and the rise of social media.
In their new book, Stephen Powell and Bob Batt T’06 present an original approach to modeling ill-structured business problems.