Need smarter policies: Econ. professor on trade
Dean Matthew Slaughter weighs in on current U.S. trade policy and the effects it has for companies and the American people.
Dean Matthew Slaughter weighs in on current U.S. trade policy and the effects it has for companies and the American people.
John Vogel discusses the damaging effects the noise of the National Guard’s fighter jets may have on the real estate market in Chittenden County—especially Winooski and Burlington, Vermont. Vogel states, “Rather than make incremental changes to mitigate what is now a bad situation, it seems to me we should be able to find a way to test military planes over a less densely populated area and not put Vermont’s economic engine at risk.”
John Lynch discusses his career and his teaching role at Tuck. "I am not just teaching in the MBA program; I'm also helping to set up an executive education program for public officials all over the country—governors, mayors, department heads and senior staff."
Quotes Emily Blanchard about how a U.S. exit from the World Trade Organization or NAFTA would have a terrible ripple effect on prices, jobs and tax revenue. "If the U.S. starts backing out of major agreements, there's an unraveling that could occur, and no one knows how bad or how ugly that could get. If you start violating parts of treaties, then all the rules of global commerce start to erode."
Features an interview with Vijay Govindarajan, the Coxe Distinguished Professor of Management, about his new book, "The Three Box Solution: A Strategy for Leading Innovation."
A new report by Dean Matthew Slaughter suggests skilled immigrants create new jobs and companies that ultimately help the economy grow. "People have concerns about jobs and wages for themselves and their children, and that's not unfounded. It's sobering how poor income growth in particular has been for so many families and workers in the U.S. for so many years at this point. The paradox I come back to is that there's a preponderance of evidence that high-skill immigration is a dynamic force that can help the U.S. create not just jobs, but good jobs."
Quotes Colin Blaydon on how the number of private-equity deals that involved a minority stake declined to just 650 last year—down 40% since 2008. Blaydon argues, “They’ve gotten very skittish about the emerging-market private-equity deals, driven largely by the Chinese volatility.”
Ron Adner uses Kodak as an example of disruption in the digital age. "Companies that learn the right lesson from Kodak’s failure — that learn to approach their competitive strategy with a wide lens that captures ecosystem dynamics — will be more likely to respond effectively to this new generation of disruptive challenges. Those that don’t risk suffering Kodak’s fate."
Vijay Govindarajan comments on his new book, Three Box Solution: A Strategy For Leading Innovation. “I have distilled a framework that shows how businesses—and their people—can take concerted action in three time horizons at once: Executing the present core business at peak efficiency (Box 1); avoiding the inhibiting traps of past success (Box 2); and building a future, day by day, through a process of strategic innovation (Box 3).”
Highlights that Tuck was recently ranked by U.S. News & World Report as one of the top 10 business schools whose graduates saw the highest average signing bonuses in 2015.
Sydney Finkelstein discusses how companies need to reevaluate their approach to mentorship—from occasionally checking in, to a consistent presence. Finkelstein says, “Sticking to outdated and potentially limited thinking when it comes to developing talent won’t cut it anymore.”
Quotes Ella Bell Smith about a report that found black women have always been leaders and/or have always aspired to leadership positions. “What it means to be a woman, a feminist, in the black community, is very different from what it means to be a woman in the white community. Rosa Parks is part of my lineage. Because black mothers raise their daughters to understand the shoulders we stand on, we have a different sense of who we are, what we can take on, and what we can survive.”
Professor Vijay Govindarajan (VG) won the prestigious McKinsey Award for the best paper in the Harvard Business Review in 2015. He received the award for his paper, “Engineering Reverse Innovations,” co-authored with MIT Mechanical Engineering Professor Amos Winter. This is the second time VG has received the McKinsey Award.
Mentions the participation of Tuck faculty members this past weekend at an NFL symposium to evaluate the Rooney rule, in an attempt to give women a chance to interview for front office positions—including head coach. “If you think outside the NFL, a lot of major organizations have announced similar efforts to extend something like the Rooney rule. Here’s an opportunity for clubs to adopt this as a best practice, and we are excited about the opportunity to have some more thoughtful dialogue with the clubs,” says Robert Gulliver, the NFL’s chief human resources officer.
Paul Argenti contributes to an article about how the use of Twitter has shifted over the last ten years, allowing ordinary people to find fame and hold on to it in a way that is shaping our culture. "Everybody can be a media company. Anyone can control the flow of information. You can interact with people you otherwise wouldn't have access to."
Paul Argenti comments on how companies that voice support for gay rights tend to look after employees’ rights. “I think it’s kind of a no-brainer. You most likely have a non-discrimination policy in place, why wouldn’t you support it publicly by acting in favor of what most people would agree to anyway?”
Quotes Deirdre O'Donnell on how nine out of 10 Tuck MBAs who want to work in investment banking are eyeing tech teams. "There's a lot of innovation and deal flow in this sector. It's the sexy business right now. But there's a huge logjam."
Cites an article co-authored by Vijay Govindarajan about how hospitals in the U.S. should be able to adopt elements of the high-quality, low-cost healthcare model of Narayana Hrudayalaya—a hospital system in Bengalaru, India.
In U.S. News and World Report’s annual rankings of the best business schools, Tuck jumped up a spot to #8—tying with the Yale School of Management. Tuck is ranked #1 for employment three months post-graduation among the top ten schools, #2 for highest average starting salaries including bonus, and #8 overall in the management category.
Highlights the study, “The Cross-Section of Expected Stock Returns,” co-authored by Kenneth French, "which proposed that along with the market factor of beta, exposure to the risk factors of size and value explain the cross section of expected stock returns."
In an opinion piece, Dean Matthew Slaughter says that the four leading presidential candidates are wrong to say foreign trade hurts America.
Kevin Lane Keller writes, “I’m all about percentages and a balanced approach: mix and match, integrate, innovate and stay relevant, make sure the product experience is the core, understand customer diversity.”
Mentions the paper, “How Firms Respond to Business Cycles: The Role of Firm Age and Firm Size,” co-authored by Teresa Fort, which finds that young companies were disproportionately affected during the 2006-2009 financial crisis, but still remained a positive source of net employment growth.
Cites research by Kenneth French and co-author Eugene Fama on how to evaluate smart-beta ETFs and how investors can incorporate these ETFs into their portfolios. “Their work shows that stocks that possess certain factors—primarily small size and value—tend to beat the market over the long term.”
Highlights the 3-Factor Model of investment returns that was introduced by Kenneth French. "What matters is not just our overall stock/bond split, but also our portfolio's orientation to small vs. large stocks and value vs. growth companies.”
Vijay Govindarajan says, “There is a need for an institutional framework and incentives; without an eco-system, individuals cannot innovate.”
Dean Matthew Slaughter notes, "There is a constellation of policies that raise the likelihood that companies and individuals in the private sector can really be innovative."
Diego Ferro T’93 discusses Argentina's first bond sale since the nation reached a deal to settle a dispute with creditors and look at investment opportunities in Brazil. “The challenges that they are facing are large. The economy is in relatively weak shape in terms of high inflation and serious fiscal deficit,” says Ferro.
Chris Trimble suggests creating small, full-time clinical teams to reform and deliver superior care for specific patient populations.
Cites a study by Kenneth French in discussing “high expectations for pint-sized firms.”
Vijay Govindarajan says the New England Patriots provide a superior example of how to get "Box One" of his "Three Box Solution" framework right by leveraging resources to maximize results.
Tuck is ranked as one of the top 10 business schools in a sneak peek at U.S. News & World Report's 2017 Best Graduate Schools rankings. The actual rankings will be available on March 16.
Eighteen percent of Tuck graduates in 2015 were hired by three consulting firms. “There is strong demand from students and from [consulting firm] recruiters,” says Jonathan Masland.
Peter Fisher discusses the tendency of central bankers to focus on the macroeconomic impact of monetary policy, while lacking sufficient acknowledgment of the likely impact on financial stability, and in turn the resulting deflation they struggle to cure.
Quotes Anant Sundaram in an article about using financial incentives to meet environmental objectives in the corporate world. Sundaram argues that empirical evidence about the subject is very difficult to obtain. "But the fact is that very good, very influential companies are thinking about this," he says.
Highlights Leonard Greenhalgh and the work he has done at Tuck to improve programs for minorities, entrepreneurial women, and Native Americans. “The Tuck School began serving minority entrepreneurs in 1980 to foster economic progress in communities that had faced historical discrimination. Greenhalgh taught in the inaugural class,” Deseret News reports.