Knowledge@Wharton Interviews

Michael Mauboussin on the 'Success Equation'

Wed, 06 Mar 13 12:48:51 -0500

How do we know which of our successes and failures can be attributed to either skill or luck? That is the question that investment strategist Michael J. Mauboussin explores in his book The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing. Wharton management professor Adam M. Grant recently sat down with Mauboussin to talk about the paradox of skill, the conditions for luck and how to avoid overconfidence. (Video with transcript)

Daniel Pink on Why 'To Sell Is Human'

Wed, 06 Mar 13 12:48:41 -0500

Whether you are an educator, an art director or a project manager, you are in sales. So argues bestselling author Daniel Pink in his new book, To Sell Is Human: The Surprising Truth about Moving Others. Pink recently visited the University of Pennsylvania as a guest lecturer in the Authors@Wharton series. Wharton management professor Adam M. Grant interviewed Pink while he was there to learn more about the ideas in his book, including why consumers mistrust salespeople, what the new ABCs of selling are and why questions may be the greatest selling tool. (Video with transcript)

Steven Ujifusa on William Francis Gibbs and His Ships

Wed, 06 Mar 13 12:50:03 -0500

Named one of The Wall Street Journal's top 10 nonfiction books of 2012, Steven Ujifusa's A Man and His Ship: America's Greatest Naval Architect and His Quest to Build the SS United States brings William Francis Gibbs' story to life. Wharton legal studies and business ethics professor G. Richard Shell recently sat down with Ujifusa to learn more about what inspired the author to tell Gibbs' story, what led Gibbs to build ships and how the builder's firm became responsible for 70% of all ships built during World War II. (Video with transcript)

Tracie McMillan on the 'American Way of Eating'

Wed, 06 Mar 13 12:50:41 -0500

To report on food sourcing and access in the United States, author Tracie McMillan went undercover, picking garlic in the fields in California and working at a Walmart in Michigan and an Applebee's in New York. She published a book about what she learned from these experiences called The American Way of Eating. Knowledge@Wharton recently spoke with McMillan about how income level affects food consumption, who controls the food we eat and why the food system might be transformed if people threw away less food. (Podcast with transcript)

Jeremy Siegel on Why Stocks Are -- and Will Remain -- the Best Bet

Wed, 27 Feb 13 15:13:57 -0500

Though stock market volatility continues to rattle investors' nerves, the future looks bright for equities in the U.S. and many emerging markets, according to Wharton finance professor Jeremy Siegel. In an interview with Knowledge@Wharton, Siegel says that investors should think about reducing their bond holdings, buying more stocks and keeping just enough cash for a rainy day and other liquidity needs. He also discusses the housing market and offers his take on where the stock market is headed for the rest of 2013. (Video with transcript)

Why Long-term Debt Solutions Require a Break from Sequestered Thinking

Wed, 27 Feb 13 15:13:57 -0500

With the spotlight on U.S. budget cuts, a timely book looks at the unique nature of the country's debt and the options available to avoid hitting the debt ceiling. Is U.S. Government Debt Different? -- a collection of 15 articles published by the Wharton Financial Institutions Center -- is co-edited by Wharton finance professor Franklin Allen, who shares insights from the book with Knowledge@Wharton. (Video with transcript)

A Bold New Direction for Japan's Economy

Wed, 13 Feb 13 14:55:45 -0500

Newly elected Prime Minister Shinzo Abe wants to take Japan's economy in a daring new direction to end 20 years of stagnation and deflation. His policies resemble past efforts -- but with far more firepower behind them. That means even looser monetary policies and a sharp rise in government spending to boost demand. Some analysts say it's just the medicine Japan needs and, on the spending side at least, the opposite of what Europe and the U.S. are doing. But Wharton finance professor Franklin Allen, in an interview with Knowledge@Wharton, says the plan carries serious risks and could lead to a big meltdown. (Video with transcript)

Tyco's Ed Breen: During a Crisis, 'Spend a Lot of Time on the Big Swings'

Wed, 13 Feb 13 14:55:45 -0500

In a career spanning 34 years, Edward Breen has faced many difficult situations, perhaps none as challenging as his most recent assignment -- CEO of Tyco International -- which he took on when the company was facing bankruptcy. In an interview with Wharton management professor Michael Useem, Breen, who just stepped down from Tyco, talks about the importance of knowing when and how to make the "bold, big decisions," mentoring and always raising your hand for assignments, among other topics. (Video with transcript)

Anne-Marie Slaughter: Forget 'Having It All' -- Own What You Want

Wed, 13 Feb 13 14:55:45 -0500

When Princeton professor Anne-Marie Slaughter published an essay in The Atlantic titled, "Why Women Still Can't Have It All," in July 2012, she touched a nerve across generations and set off a renewed public debate on women's progress and work-life balance. In an interview with Stewart Friedman, director of the Wharton Work/Life Integration Project, Slaughter shares what it was like to draw back the curtain on her life as someone perceived to "have it all" and suggests how companies can make life better for both women and men. (Video with transcript)

How Manu Chandaria Mastered the African Market

Wed, 30 Jan 13 14:51:29 -0500

Africa is the next frontier for global business, presenting a rare growth opportunity in a stagnant world. But navigating this complex continent with more than 1 billion people can be exceedingly difficult, and many businesses have failed to make a lasting impression in the region. Kenyan business tycoon Manu Chandaria, chairman and CEO of the multi-billion dollar privately held Comcraft Group, explains in an interview with Knowledge@Wharton how he mastered the African market and how others can follow his lead. (Video with transcript)

For the Global Economy in 2013, Happy Days Are Not Quite Here Again

Wed, 16 Jan 13 15:25:48 -0500

Although the global economy is in better shape than it was during the worst days of the 2008-2009 financial crisis, don't expect to see a dramatic turnaround in 2013, say Wharton professors Mauro Guillen and Kent Smetters. In separate interviews with Knowledge@Wharton, they discuss some of the challenges that the U.S., Europe, China and emerging markets such as Brazil and India are facing going into the New Year. (Video with transcript)

Up in the Cloud: Hype and High Expectations for Cloud Computing

Wed, 16 Jan 13 15:25:48 -0500

Cloud computing is creating waves in different industries across the developed world, helping both entrepreneurs and large conglomerates quickly respond to opportunities and manage their business processes more effectively. A recent survey by Knowledge@Wharton and enterprise software firm SAP reveals that people have very high expectations for the future of cloud computing; at the same time, they admit that they don't fully understand the technology. Knowledge@Wharton spoke with David Spencer, vice president at SAP, and Don Huesman, managing director at the Wharton Innovation Group, to clarify questions surrounding the future of cloud computing. (Podcast with transcript)

Up in the Cloud: Hype and High Expectations for Cloud Computing

Wed, 16 Jan 13 15:25:48 -0500

Maneet Ahuja on Hedge Funds and the 'Alpha Masters'

Mon, 17 Dec 12 11:42:57 -0500

Maneet Ahuja began her career at age 17 as a credit risk analyst at Citigroup. Now, 10 years later, she has been named to the Forbes 2012 "30 under 30" list, is a producer for CNBC's Squawk Box and has written a new book called The Alpha Masters: Unlocking the Genius of the World's Top Hedge Funds. Knowledge@Wharton recently talked with her about the alpha masters she profiled in her book and about where she thinks the hedge fund industry is headed. (Video with transcript)

'Makers': Chris Anderson on DIY Manufacturing

Mon, 17 Dec 12 11:42:09 -0500

Just as the Internet enabled anyone with a computer to become an entrepreneur, today's newest technologies have spawned a DIY (do it yourself) micro-manufacturing movement, so anyone can be both inventor and manufacturer. Wired editor Chris Anderson, author of the new book, Makers: The New Industrial Revolution, recently spoke with Knowledge@Wharton about how technology is changing the limits of what inventors can do, what the Maker Movement is, why he started DIY Drones and how the new technologies will drive the global economy. (Transcript with audio)

Barry Schwartz's 'Practical Wisdom'

Mon, 17 Dec 12 11:42:33 -0500

Swarthmore professor Barry Schwartz says rules and incentives are an "insurance policy against disaster, but [they don't] produce excellence." In his recent book, Practical Wisdom: The Right Way to Do the Right Thing, Schwartz and co-author Kenneth Sharpe, also a Swarthmore professor, say that what is needed is not more bureaucracy. Instead, society needs the Aristotelian ideal that trumps all others -- practical wisdom. Knowledge@Wharton recently sat down with Schwartz to discuss why individuals fail to do the right thing, what practical wisdom looks like in practice and what organizations can do to regain people's trust. (Video with transcript)

'Kill the Company': Identify Your Weaknesses Before Your Competitors Do

Mon, 17 Dec 12 11:42:03 -0500

For many, implementing an innovation strategy, which requires changes within an organization, means adding layers of new processes. Lisa Bodell, author of Kill the Company: End the Status Quo, Start an Innovation Revolution, argues that there are straightforward ways to make change without bogging down the organization. Knowledge@Wharton spoke with Bodell recently about her approach to getting companies to face their vulnerabilities, why taking risks are essential and why small changes make all the difference. [Video with transcript]

Gretchen Rubin's Search for Happiness

Mon, 17 Dec 12 11:42:46 -0500

Are you happy? Could you be happier? Gretchen Rubin was already "pretty happy" when she asked herself these very questions. In search of the answers, she started her own pursuit of happiness, which eventually became a New York Times bestseller titled, The Happiness Project. She has now written a second book called Happier at Home. Knowledge@Wharton recently spoke with Rubin about why happy people work more hours each week, how to make and keep happiness resolutions and how to ward off the three happiness leeches. (Video with transcript)

'The Corner Office': Adam Bryant on the Five Qualities of Successful Leaders

Mon, 17 Dec 12 11:42:18 -0500

New York Times editor Adam Bryant has interviewed more than 200 CEOs for his Corner Office column. In his book, The Corner Office: Indispensable and Unexpected Lessons from CEOs on How to Lead and Succeed, Bryant shares what he has learned from Xerox CEO Ursula Burns, Ford CEO Alan R. Mulally, Yum Brands CEO David C. Novak, Teach for America CEO Wendy Kopp, Zynga co-founder Mark Pincus and other leaders. Knowledge@Wharton recently sat down with Bryant to discuss five qualities of successful leaders, the age-old question of whether leaders are born or made and how his discussions with CEOs have influenced his own approach to leadership. (Video with transcript)

Social TV: People Are Talking -- How Marketers Should Listen

Wed, 05 Dec 12 15:03:01 -0500

Television networks and advertisers alike are using social media to build buzz about programs and products -- but are their efforts really resulting in increased sales or higher ratings? Wharton professor Shawndra Hill is taking to Twitter and the airwaves in an effort to figure out how marketers should best employ user-generated content in trying to get consumers to pay attention to their products, or to make solid recommendations to existing fans. (Video with transcript)

'For the Win': How Gamification Can Transform Your Business

Wed, 05 Dec 12 15:03:01 -0500

Can work be fun? Can the insights of successful game designers be used to engage customers in a variety of industries? Wharton legal studies and business ethics professor Kevin Werbach and New York Law School professor Dan Hunter, authors of For the Win: How Game Thinking Can Revolutionize Your Business, say yes. Knowledge@Wharton spoke with Werbach and Hunter about what gamification really is, how companies are using it and what pitfalls to avoid when gamifying. (Video with transcript)

Why America Is Losing the Race for Entrepreneurial Talent

Tue, 20 Nov 12 13:50:18 -0500

In 2005, immigrant entrepreneurs launched 52% of all startups in Silicon Valley. But today, the number has dropped to 44%, and America is not only losing the opportunity to create new jobs but also losing its competitive edge, argues Vivek Wadhwa in his book, The Immigrant Exodus: Why America Is Losing the Global Race to Capture Entrepreneurial Talent. In the 1980s, skilled immigrants could get green cards in as little as 18 months, but today it can take as long as 17 years. Failure to fix this problem, says Wadhwa in an interview, is killing American innovation. (Video with transcript)

One Organization's Fight against Hunger -- and Why Victory Is So Elusive

Tue, 20 Nov 12 13:50:18 -0500

Bill Clark's job only gets harder. As executive director of Philabundance, a Philadelphia area hunger relief organization, he has this to say about today's food crisis: "The hunger that used to exist in inner cities or rural areas like Appalachia has leapt beyond those pockets into the middle and working classes. I don't think there is a zip code in the country today that is totally devoid of hunger." Clark talks about the challenges Philabundance faces at a time when natural disasters, cutbacks in social programs and unusually high unemployment have created a "tremendous" unmet need. (Podcast with transcript)

MOOCs on the Move: How Coursera Is Disrupting the Traditional Classroom

Wed, 07 Nov 12 14:55:36 -0500

Massive open online courses (MOOCs) are shaking up traditional models of education. Among the most active providers of them today is Coursera, a start-up that presents some 200 courses to 1.5 million students in collaboration with 33 educational institutions, including the University of Pennsylvania. But how does Coursera deal with challenges such as scaling up the venture, increasing student retention rates and monetizing free content? Knowledge@Wharton talked with Daphne Koller, co-founder of Coursera, during her recent visit to campus.

How Is the U.S. Doing in the 'Global Bandwidth Race'?

Wed, 24 Oct 12 15:23:18 -0400

The worldwide competition for bandwidth "is like the space race where the winner will see benefits ... that will last for years to come," according to Julius Genachowski, chairman of the Federal Communications Commission (FCC). In an interview with Wharton's Kevin Werbach, Genachowski says that while the U.S. is leading the world in terms of developing infrastructure for the next generation of mobile broadband, the country faces "some real challenges" in keeping ahead. (Video with transcript)

GM's Daniel Ammann: Driving 'One of the Great Corporate Transformations of All Time'

Wed, 24 Oct 12 15:23:19 -0400

The theme of the recent 2012 Wharton Management Conference -- "Changing the Game: Leadership in Crisis" -- is an apt one for the auto industry. Daniel Ammann, CFO of General Motors, addressed leadership issues in a keynote presentation at the conference and in a podcast with Wharton's John Paul MacDuffie, during which he discussed upcoming product launches, the struggling auto industry in Europe and a strong partnership in China. (Podcast with transcript)

Banco Santander's Huge Mexican IPO: Why It's a 'Smart Move' During Troubled Times

Wed, 12 Sep 12 15:09:11 -0400

Last week, Spanish bank Banco Santander announced plans to use the recent strong financial performance of its Mexican unit as leverage to raise $4.3 billion in a stock offering -- the largest ever in Mexico's history. Part of a longer-term expansion plan in Latin America, the move is also designed to signal to financial markets that the bank has high growth potential outside of its troubled home markets in Spain and the eurozone. In an interview, Wharton's Mauro Guillen and Adrian Tschoegl, authors of a book about the bank, discuss how the deal fits in with Santander's master plan. (Video with transcript)

The Apple-Samsung Case: What It Means for Patents -- and Innovation

Wed, 29 Aug 12 15:41:42 -0400

A California jury awarded Apple what could be a decisive victory in the smartphone wars last week by ruling that Samsung infringed on a number of patents relating to the functionality and design of the iPhone. Samsung plans to appeal, but Apple is now calling for a ban on U.S. sales of some of the devices at issue in the case. Some observers believe the verdict might open the door for additional Apple lawsuits against other smartphone makers -- including Google. Wharton professors David Hsu and Andrea Matwyshyn discuss the key players, the future of smartphone design and the U.S. patent system. (Podcast with transcript)

The Dark Side of Microfinance: An Industry Where the Poor Play 'Cameo Roles'

Wed, 18 Jul 12 13:14:25 -0400

Hugh Sinclair is the author of a new book titled, Confessions of a Microfinance Heretic: How Microlending Lost Its Way and Betrayed the Poor, in which he debunks the image of microfinance as a do-good industry committed to helping poor people create sustainable businesses. Instead, he documents corruption, extortionist interest rates and a lack of transparency that he says characterize much of the microfinance industry today. Sinclair spoke with Knowledge@Wharton about his book, the problems microfinance continues to face, and some solutions for moving forward. (Podcast with transcript)

GM's Steve Girsky on Renewed Customer Focus, Overcapacity and the Volt

Tue, 03 Jul 12 12:41:52 -0400

Stephen J. Girsky, vice chairman of General Motors, says the company has a new emphasis on the customer even as it faces such challenges as industry-wide overcapacity, strong competition from rivals both in the U.S. and Europe, and slower-than-expected sales of the Volt. Wharton management professor John Paul MacDuffie asked Girsky to talk about these issues and others shortly before Girsky's presentation at the recent Wharton Leadership Conference. (Podcast with transcript)

Jugaad: A Frugal, Flexible Approach to Innovation

Tue, 03 Jul 12 12:34:29 -0400

In their book, Jugaad Innovation: Think Frugal, Be Flexible, Generate Breakthrough Growth, authors Navi Radjou, Jaideep Prabhu and Simone Ahuja present a new approach to innovation that is fueling growth in emerging markets as well as developed ones. Radjou and Ahuja recently sat down with Knowledge@Wharton to talk about the six principles of jugaad, a Hindi word meaning "an improvised solution born from ingenuity." (Podcast with transcript)

'Creating Innovators': Raising Young People Who Will Change the World

Tue, 03 Jul 12 12:34:14 -0400

Leading thinkers, from President Barack Obama to Thomas Friedman, argue that innovation is key to improving the United States economy, now and in the future. If that is the case, how do we prepare young people to become innovators? That is the question Tony Wagner, Harvard University's first innovation education fellow at the Technology & Entrepreneurship Center, asks in his new book, Creating Innovators: The Making of Young People Who Will Change the World. To find the answers, Wagner profiles several young innovators, drawing on interviews with them and their parents, educators and mentors to discover the forces that have driven them to succeed in thinking outside the box. (Podcast with transcript)

Why Good People Can't Get Jobs: Chasing After the 'Purple Squirrel'

Wed, 20 Jun 12 13:53:13 -0400

Wharton management professor Peter Cappelli's most recent book -- Why Good People Can't Get Jobs: The Skills Gap and What Companies Can Do About It -- has inspired a reaction from just about every group with a stake in today's workforce: employers, employees, recruiters, academics and media commentators. Cappelli debunks the oft-repeated argument from employers that applicants don't have the skills needed for today's jobs. Instead, he puts much of the blame on companies themselves. In this interview with Knowledge@Wharton, Cappelli talks about his book, the current labor market and how the job hunting process can be vastly improved. (Podcast with transcript)

Emerging Gabon Hinges on Services, Industry and the Environment

Wed, 06 Jun 12 13:14:40 -0400

Gabon is one of the stable regimes in the African continent, and leaders there have a vision of progress based on being both business- and environment-friendly. Liban Soleman is the president's chief of staff of the government of Gabon. In this interview with Knowledge@Wharton, Soleman says there is enormous opportunity for investors in Gabon, and in Africa as a whole. (Article with audio)

What Hollande's Election Means for the Eurozone

Wed, 09 May 12 15:49:08 -0400

In the aftermath of the election of Socialist Francois Hollande as the new president of France, eurozone austerity policies in Europe, which many now blame for pushing much of the Continent back into recession, appear likely to be loosened. At the same time, at least some complementary growth-oriented policies may be introduced. Big questions remain, however: What will these changes look like, and how much difference will they make? (Article with podcast)

How Emotional Intelligence Helps the Bottom Line

Thu, 03 May 12 14:35:39 -0400

In this third and final segment of the interview with Chade-Meng Tan, best selling author of Search Inside Yourself, Knowledge@Wharton explores the relationship between emotional intelligence and financial performance. According to Meng, companies as diverse as GE, Patagonia, Zappos, Genentech, American Express and MetLife have seen positive business results through practices based on emotional intelligence. Mindfulness can also help laid off job seekers find work faster.

How Emotional Intelligence Can Help Resolve Conflicts and Build Tough, Kind Leaders

Thu, 03 May 12 14:35:33 -0400

The second segment of Knowledge@Wharton's interview with Google's Chade-Meng Tan, author of Search Inside Yourself, focuses on the role that emotional intelligence can play in helping managers resolve conflicts within high-performance teams. It also shows how the Google SIY program, through compassion training, has helped managers become more successful and charismatic.

IT Innovations Dominate 2012's 'Great Eight' Business Plans

Tue, 01 May 12 11:40:19 -0400

Since launching during the height of the dot.com bubble of the early 2000s, Wharton's Business Plan Competition has seen ever increasing diversity in entries from student entrepreneurs. This year, a big theme was IT solutions for business problems, especially in the health care field, although ideas related to online marketing and education were also presented.

Jon Huntsman, Jr., on Republican Politics, the U.S. Economy and China's Transition

Wed, 25 Apr 12 15:51:05 -0400

According to Jon Huntsman, Jr., former Utah governor and Republican presidential candidate, "partisanship has seeped into campaigning [so much] that breaking through with a message that is beyond party politics ... is a very challenging thing to do." Yet in an interview with Knowledge@Wharton, he spoke about the importance of public service, as well as the need for fundamental tax and energy reform, the outlook for China in the coming decade, the role of the media in covering elections, his respect for Ronald Reagan and what he plans to do in the coming months, among other topics. (Podcast with transcript)

Google's Chade-Meng Tan Wants You to Search Inside Yourself for Inner (and World) Peace

Wed, 25 Apr 12 15:51:05 -0400

Chade-Meng Tan (Meng) was among the earliest engineers to be hired at Google. Since 2007, he has been running a seven-week personal growth program called Search Inside Yourself, whose mission is to promote peace and harmony through the cultivation of emotional intelligence among Google employees. Meng has now written a book titled, Search Inside Yourself: The Unexpected Path to Achieving Success, Happiness (and World Peace) to share these tools and techniques with companies everywhere. He spoke with Knowledge@Wharton about his conspiracy for world peace. (Podcast with transcript)

Does It Make Sense to Have an Industrial Policy? Ask Howard Pack

Wed, 11 Apr 12 14:27:58 -0400

Whenever an industry runs into trouble -- and especially when it starts hemorrhaging jobs -- demands for support and subsidies are heard. But does having an industrial policy really make sense? According to Howard Pack, a professor of business and public policy at Wharton, an interventionist government policy generally plays a limited role in bringing about an improvement. In fact, he adds, government interventions can sometimes lead to harmful results. (Podcast with transcript)

Health Care Reform: Life after the Supreme Court Debate

Wed, 11 Apr 12 14:27:58 -0400

The U.S. Supreme Court recently heard arguments both for and against President Obama's health care reform initiative, known as the Affordable Care Act. The provision at the center of the legal debate -- the individual mandate -- requires all adults to buy health insurance, either through their employers or by purchasing it themselves. Knowledge@Wharton talked with Wharton professors Scott Harrington, Jonathan Kolstad, Mark Pauly and Arnold Rosoff about the possible outcomes of the court case; the potential implications for businesses and consumers, and ways in which health care delivery in this country can be improved. (Video with transcript)

'Restorative Niches': Author Susan Cain on the Need for 'Quiet'

Wed, 04 Apr 12 12:57:08 -0400

Business leaders often look to social activities to generate ideas and innovation, from group collaboration and brainstorming to large meetings and open-format offices. Those who are highly verbal, bold and outgoing often thrive in these environments. In Quiet: The Power of Introverts in a World That Can't Stop Talking, author Susan Cain challenges the "Extrovert Ideal" and many common business practices in which the ideas and leadership potential of introverts are often overlooked. Among the researchers she cites is Wharton management professor Adam Grant, who recently interviewed Cain for Knowledge@Wharton. (Podcast with transcript)

The Creative Destruction of Medicine Will Happen -- If Consumers Demand It

Wed, 04 Apr 12 12:57:35 -0400

In his new book, The Creative Destruction of Medicine: How the Digital Revolution Will Create Better Health Care, Eric Topol argues that medicine is set to undergo its biggest shakeup in history, pushed by demanding consumers and the availability of game-changing technology. Topol -- a cardiologist, director of the Scripps Translational Science Institute and co-founder of the West Wireless Health Institute in La Jolla, Calif. -- was recently interviewed for Knowledge@Wharton by C. William Hanson, III, director, surgical intensive care, at the Hospital of the University of Pennsylvania. (Podcast with transcript)

Christine Lagarde: Emerging Market Nations Will Get More Power in the IMF

Tue, 03 Apr 12 12:04:53 -0400

Christine Lagarde, managing director of the International Monetary Fund (IMF), sees no alternative to the strict austerity policies being imposed on many peripheral European countries, says the double dip recessions in Italy and Ireland just announced come as no surprise, and notes that IMF reforms will shift 6% of current quotas to dynamic emerging and developing countries. Lagarde's comments came in an exclusive interview with Knowledge@Wharton and media partner ParisTech Review late last week, as BRIC countries demanded more voting power in return for the larger financial contributions being requested by the IMF.

Channeling Sports: A Conversation with ESPN Founder Bill Rasmussen

Wed, 28 Mar 12 16:01:53 -0400

When Bill Rasmussen launched ESPN on September 7, 1979, he gave the world its first 24-hour television network and changed the way people viewed both television and sports. His innovations include the creation of "Sports Center," wall-to-wall coverage of NCAA regular-season and March Madness college basketball, and coverage of the College World Series baseball tournament. Rasmussen, who wrote a book titled, Sports Junkies Rejoice! The Birth of ESPN, talked with Knowledge@Wharton about the challenges of founding a 24/7 sports network in the face of nearly universal skepticism, what entrepreneurs need to succeed and why he doesn't ever plan to retire. (Video with transcript)

Market Update: A Real Recovery, or a False Start?

Wed, 14 Mar 12 16:01:57 -0400

The Dow has hit its highest level in years, loan rates are at record lows and the U.S. economy appears to be gaining momentum. Even the housing market is starting to look inviting. But is this a real recovery -- or a false start like last year's? Wharton's Jeremy Siegel and Scott Richard think the economy is showing signs of a true rebound, and predict that stocks should do well in the next 12 months. But bonds, they warn, are in dangerous waters, and economic growth will be in jeopardy if oil prices keep rising and the European credit crisis worsens. (Video with transcript)

In Fashion: How Liz Claiborne, Inc., Became One of the Industry's Biggest Successes

Mon, 12 Mar 12 14:55:41 -0400

Jerome Chazen, a founder and former chairman of Liz Claiborne, Inc., recently wrote a book titled, My Life at Liz Claiborne: How We Broke the Rules and Built the Largest Fashion Company in the World. Indeed, Liz Claiborne -- now known as Fifth & Pacific Cos. -- grew from revenues of $7 million in 1977 to more than $2 billion in the early 1990s. Knowledge@Wharton asked Chazen, who stepped down as CEO in 1996, to discuss the highs and lows of running a successful fashion business in a highly competitive industry. (Podcast with transcript)

Author Pico Iyer: Seeking Stillness and Silence in the Rush of Business Life

Wed, 29 Feb 12 15:42:30 -0500

Pico Iyer -- essayist, author and thinker -- has a unique perspective on many things. His physical domain ranges from California (where he lived as a child) and England (where he studied) to Cuba, North Korea and Ethiopia (which he visited) and Japan (where he resides). His mental domain knows no limiting boundaries. In this interview with Wharton associate dean Deirdre Woods and Knowledge@Wharton, Iyer discusses the value of silence amid the rush of business. If we spend too much time in the MTV rhythm, says Iyer, we won't be able to cultivate the parts of us that need more slowness. (Podcast with transcript)

IBM's Sam Palmisano: 'Always Put the Enterprise Ahead of the Individual'

Wed, 18 Jan 12 15:33:22 -0500

As far as a legacy goes, says IBM chairman Sam Palmisano, "I just want to leave the company better than I found it." Judging by IBM's successes over the past decade, Palmisano, who was CEO of IBM until he stepped down earlier this month, did just that. During an interview with Wharton management professor Michael Useem, Palmisano discussed the sale of the company's personal computer business, the PricewaterhouseCoopers acquisition, how a big company can encourage innovation, and what he learned from his mentors, among other observations drawn from almost 40 years at IBM.

A Conversation with Outlier Malcolm Gladwell

Mon, 21 Nov 11 11:05:51 -0500

While millions of people have read Malcolm Gladwell's books, his ideas have had particular resonance with today's business leaders. Wharton management professor Peter Cappelli and Gladwell were just named to HR Magazine's Top 20 Most Influential International Thinkers of 2011.Cappelli spoke with Gladwell by phone about why Gladwell is an "academic groupie," the inconvenient truths that can spring from scholarly research, and how important decisions -- like going to war or dealing with today's economy -- might be dealt with differently if we were to draw on the "extraordinary wisdom" of universities.

Is the End Near for the Eurozone?

Wed, 14 Sep 11 15:07:07 -0400

Warning signs are flashing red. Bond markets are projecting a 98% chance of default on Greece's debt. Stock prices for French banks, heavily invested in that debt, have plunged 10% in recent days. Has the European debt crisis hit the breaking point, with Greece -- and perhaps others -- soon to exit the eurozone? Or, will officials once more cobble together new agreements that keep Greece in the club and prevent a huge contagion effect likely to cripple an already slowing global economy? Wharton finance professors Franklin Allen and Bulent Gultekin offer their insight.

Leading on 9/11 and Beyond: New York City Fire Department's Joseph Pfeifer

Thu, 08 Sep 11 10:43:49 -0400

Ten years ago, on September 11, 2001, New York City Fire Department Battalion Chief Joseph Pfeifer saw the first aircraft hit the World Trade Center's North Tower and radioed the alarm, the first FDNY fire chief to take command. Today, Pfeifer is the New York City Fire Department's Chief of Counterterrorism and Emergency Preparedness and a Citywide Command Chief. Wharton management professor Michael Useem talked with Pfeifer recently about his leadership during the 9/11 rescue efforts and what the New York City Fire Department and other cities are doing to prepare for the unexpected.

Upheaval at HP and Apple: What's Next for Tech

Wed, 31 Aug 11 15:20:29 -0400

It's been a month of seismic change for the tech sector. Hewlett-Packard, the largest computer and printer maker in the world, may begin to transition away from hardware by jettisoning its PC division. Meanwhile, Apple is facing the end of an era, with the announcement that visionary leader Steve Jobs is relinquishing his role as CEO. Knowledge@Wharton asked Wharton management professors Saikat Chaudhuri and David Hsu to discuss the outlook -- and future opportunities -- for HP and Apple.

Can South Africa Help Usher in a Continent's Economic Renaissance?

Wed, 31 Aug 11 15:20:29 -0400

South Africa occupies a unique position on a continent that is undergoing a boom. The country is an economic bridge that pairs Western investors with burgeoning business opportunities in sub-Saharan Africa, and it is also a source of ideas for other developing countries eager to learn how a fledgling democracy can work in the wake of a trying past. Knowledge@Wharton spoke with South Africa’s ambassador to the United States, Ebrahim Rasool, about the economic strength of the region, its challenges and the common cause South Africa shares with other countries.

Marshall Fisher on 'The New Science of Retailing'

Wed, 17 Aug 11 15:34:03 -0400

In today's economy, retailers are hard pressed to increase revenues. Among the biggest challenges they face is matching supply with demand. In The New Science of Retailing: How Analytics Are Transforming the Supply Chain and Improving Performance, Wharton professor Marshall Fisher and co-author Ananth Raman argue that retailers have the data they need to manage supply chains more efficiently and increase sales and profits. Knowledge@Wharton spoke with Fisher about what types of data are most important for retailers to collect, how they can use this information to identify home-run products and why the retailing industry might be missing as much as one-third of potential sales.

Winners and Losers in the Debt Ceiling Deal

Wed, 03 Aug 11 14:33:48 -0400

In a last-minute attempt to stop the U.S. from defaulting on its loan obligations, Congress voted this week to increase the country's debt ceiling by at least $2.1 trillion. The deal includes $917 billion in spending cuts over the next 10 years, and the establishment of a congressional committee to reduce the deficit further by $1.5 trillion. Questions remain, however: Where will these cuts come from? How will social safety nets such as Medicare be affected? And can the country continue to recover from the recession with government spending drastically reduced? Knowledge@Wharton spoke with Wharton professors Olivia S. Mitchell and Kent Smetters.

'The Happiness Manifesto': Can a Country Be as Happy as a Duck in Water?

Tue, 26 Jul 11 10:34:27 -0400

The United Kingdom's Prime Minister David Cameron plans to create a national well-being index. French President Nicolas Sarkozy has formed a team that includes two Nobel Prize-winning economists to come up with a system for measuring the nation's well-being. In China, happiness indexes have become so popular that cities there compete for the title of China's happiest city. Many now argue that purely economic measures of a country's progress -- such as gross national product (GDP) -- fail to count many things people value highly, such as personal and community relationships or a healthy environment. To learn more about measuring happiness, Knowledge@Wharton spoke with Nic Marks, author of the e-book, The Happiness Manifesto: How Nations and People Can Nurture Well-Being.

'Not for Free': Saul J. Berman on Creating New Revenue Models

Fri, 22 Jul 11 13:01:10 -0400

The "phenomenon of free" has hit many businesses hard, particularly media businesses, argues Saul J. Berman, Global & Americas Leader for the IBM Strategy & Change Consulting Group. In Not for Free: Revenue Strategies for a New World, Berman offers lessons from businesses that have integrated successful business model innovations, as well as from businesses that have failed to do so. Recently, Knowledge@Wharton and Jerry (Yoram) Wind sat down with Berman to discuss his thoughts on who pays for free content and why new models are essential.

Parag Khanna on 'How to Run the World'

Wed, 13 Jul 11 12:39:58 -0400

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.

Why 'Men Can': Don Unger and the Changing Face of Fatherhood in America

Tue, 14 Jun 11 09:44:51 -0400

Donald N.S. Unger, the author of Men Can: The Changing Image and Reality of Fatherhood in America and lecturer in the Program in Writing and Humanistic Studies at MIT, writes about representations of men, masculinity and fatherhood in popular culture. Just in time for Father's Day, Unger shares his thoughts with Knowledge@Wharton on the changing role of fatherhood.

Robert Wood Johnson Foundation's Risa Lavizzo-Mourey: The Challenges Facing Health Care Reform

Wed, 08 Jun 11 13:24:09 -0400

The landscape for health care in the U.S. continues to shift since the Obama administration passed the Patient Protection and Affordable Care Act last year. Several questions remain unanswered, including how to expand health coverage, what are the potential minefields for doing so, and what are the best ways to ensure that the system performs well. Meanwhile, Americans are becoming increasingly unhealthy, despite spending more on health care than any other nation. To address these issues, Knowledge@Wharton spoke with Risa Lavizzo-Mourey, president and CEO of the Robert Wood Johnson Foundation, which focuses its efforts on improving the country's health care. Lavizzo-Mourey will be a speaker at the upcoming Wharton Leadership Conference 2011, which will take place on June 22.

Nassim Taleb on Living with Black Swans

Wed, 13 Apr 11 15:12:20 -0400

Nassim Taleb is a literary essayist, hedge fund manager, derivatives trader and professor of risk engineering at The Polytechnic Institute of New York University. But he is best known these days as the author of The Black Swan: The Impact of the Highly Improbable. During a recent visit to Wharton as part of The Goldstone Forum, he spoke with Wharton finance professor Richard Herring -- who taught Taleb when he was a Wharton MBA student -- about events in the Middle East, the oil supply, investing in options, the U.S. economy, the dollar, health care and of course, black swans.

Former Random House CEO Alberto Vitale: 'Paper Books Will Evolve into More Precious Products'

Wed, 13 Apr 11 15:12:20 -0400

Alberto Vitale was running Bantam Books, the world leader in paperbacks, when the Newhouse family recruited him to become the COO of Random House. In that role, and later as the CEO of one of the world's top publishing firms, Vitale oversaw huge changes in the publishing industry. In this interview with Stephen J. Kobrin, publisher and executive director of Wharton Digital Press, and Knowledge@Wharton, Vitale discusses the rise of digital publishing, the future of bookstores and the globalization of copyright, among other issues.

From Virtual Barnyards to Real Dollars: Andrew Trader on Zynga, 'Gamification' and the Power of Analytics

Wed, 30 Mar 11 14:25:28 -0400

By combining the might of Facebook with the narrative element of experiential computer games like Oregon Trail or The Sims, social gaming developer Zynga was able to become one of the fastest-growing companies on the Internet. Andrew Trader was a member of Zynga's founding team in 2007, and until last year served as executive vice president of sales and business development. Now an entrepreneur-in-residence at Maveron, a venture capital firm, Trader recently talked to Knowledge@Wharton about Zynga's success and the rise of social gaming.

In the Health Care Sector, Who Should Choose Which Treatment Is Best?

Wed, 30 Mar 11 14:25:28 -0400

Each day, workers in the health care field debate the most reliable course of action for treating a particular ailment. As part of U.S. health care reform, new emphasis is being placed on comparative effectiveness research (CER), which pits remedies against one another to determine which is best. A new paper by Wharton professor Scott Harrington warns that the government should avoid developing a monopoly on CER, and offers suggestions for sparking interest from private sector researchers.

Crisis in Japan: What Will the Costs Be?

Wed, 16 Mar 11 15:44:15 -0400

It may be years before the costs -- human and economic -- of the devastating earthquake and tsunami on March 11 in Japan are fully known, but they will be enormous. With thousands feared dead throughout the northeastern part of the country and officials scrambling to contain a nuclear disaster, there are now more questions than answers. Knowledge@Wharton asked four experts to share their thoughts about the impact of the disaster.

No Easy Answers: Decoding the Economy's Mixed Messages

Wed, 16 Feb 11 15:29:54 -0500

Corporate earnings have surged and stocks have soared, but the housing market is still weak. Interest rates remain low, but are rising. Many countries' economies are perking up, but a jump in commodities prices is producing inflation. Governments in the United States and Europe are wrestling with huge budget deficits and debt problems. For insight, Knowledge@Wharton talks to Wharton professors Jeremy Siegel, Franklin Allen and Susan Wachter.

Reborn and Restructured, Can the Global Auto Industry Put Customers in Drive?

Wed, 19 Jan 11 16:05:35 -0500

The talk coming out of the 2011 North American International Auto Show in Detroit (which opened on January 10 and closes on Sunday) was full of optimism about a turnaround for an industry that suffered a significant beating during the recent recession. The worldwide auto business emerging from the upheaval of recent years is much altered, with several brands changing hands and manufacturers like General Motors and Chrysler restructuring after government bailouts and bankruptcy filings. In an interview with Knowledge@Wharton, management professor John Paul MacDuffie discusses the outlook for 2011 and beyond.

Former Spanish Prime Minister Jose Maria Aznar on Bailouts, Protectionism and Why Europe Is a 'Declining Continent'

Wed, 19 Jan 11 16:05:35 -0500

Spain is struggling with the highest unemployment rate in Western Europe, as well as soaring national debt and a pension shortfall that make many people wonder if the region's fifth-largest economy will require a bailout similar to those granted to Greece and Ireland. Yet despite these challenges, the solution to the country's problems -- according to former Spanish Prime Minister Jose Maria Aznar, who recently spoke at Wharton -- is fairly simple: more fiscal discipline.

Wyndham Worldwide's Stephen Holmes on the Changing Nature of Leisure Travel

Wed, 05 Jan 11 15:12:34 -0500

After nearly 20 years in the hospitality industry, Wyndham Worldwide chairman and CEO Stephen Holmes says he has seen several "shifts" in the sector -- from the way that consumers plan their vacations to what they expect to find when they stay at a hotel. The most recent catalyst for change has been the global economic downturn. Wyndham -- one of the world's largest hospitality companies -- has weathered that storm, and has actually grown since the recession began. In an interview with Knowledge@Wharton, Holmes discusses what changes he has witnessed in the industry, why timeshares have done surprisingly well during the downturn and what makes his stay at a hotel a happy one.

SAS Institute CEO Jim Goodnight on Building Strong Companies -- and a More Competitive U.S. Workforce

Wed, 05 Jan 11 15:12:34 -0500

These should be heady times for Jim Goodnight, founder and CEO of SAS Institute, an analytics software and services firm. His company bucked the economic downturn to make 2009 its third most profitable year on record, and it is currently working on cutting-edge solutions to problems that range from advising Macy's on product pricing to tracking a handful of endangered hippos in Africa. But during a recent presentation at Wharton, Goodnight noted that his biggest priority these days is helping American schools turn out more scientists and mathematicians, a goal he said is critical if the U.S wants to remain competitive.

Open Book: Sir Harold Evans on His Career and the Future of Journalism

Wed, 12 Jan 11 13:17:44 -0500

For more than 40 years, Harold Evans has been a giant figure in the world of print on both sides of the Atlantic. Starting out as a 16-year-old cub reporter in the north of England, Evans was still in his late 30s when he was named editor of The Sunday Times of London in 1967 for what turned out to be a 14-year reign. In 1984, he moved to the United States, taking top jobs in magazines and book publishing before deciding to concentrate on writing books. Knowledge@Whartonspoke recently with Evans about his latest book, My Paper Chase: True Stories of Vanished Times, and about print's rich past and uncertain future in the new digital age.

Union Leaders vs. Republican Legislators: What's at Stake in the Standoff

Wed, 02 Mar 11 15:47:44 -0500

Over the past two weeks, public sector unions in Wisconsin and other states have staged protests against some legislators' attempts to restrict collective bargaining power -- in effect, taking away a union's right to negotiate over salary, seniority, pensions, health care and other work-related issues. The clash has set off debates about budget shortfalls, political posturing and most of all, the role that unions play in today's economy. Wharton professors Janice Bellace and Peter Cappelli offer their views on the standoff.

McCormick's Alan D. Wilson on Pricing, Innovation and the 'Romance of Spice'

Wed, 02 Mar 11 15:47:44 -0500

In three years as CEO of spice maker McCormick, Alan D. Wilson has been charged with steering the company through difficult economic times and periods of extreme volatility in commodities prices. In a recent conversation with Knowledge@Wharton, Wilson discussed McCormick's efforts to expand internationally, why the increased popularity of Food Network and celebrity chefs has been a boon, and the company's aim to create a relationship with customers by playing up "the romance of spice."

Charles Haldeman's New Home: CEO of Freddie Mac Tries to Steady an Agency with an Uncertain Future

Tue, 11 Jan 11 15:59:44 -0500

Freddie Mac, the government-supported mortgage finance company taken over by the government 18 months ago along with Fannie Mae, is waiting for the Obama administration to come up with a plan that will revamp the two agencies along with the whole area of housing finance. Waiting in the wings to implement that plan is Charles "Ed" Haldeman, Jr., who was appointed CEO of Freddie Mac last July and has already moved ahead with a strategy to revive the somewhat demoralized 6,000-employee agency. During a recent interview with Knowledge@Wharton, he discussed his approach to managing people, his views on what's ahead for the real estate sector, and why he feels the work that Freddie Mac does is "absolutely critical" to the country's welfare.

Will Online Streaming Work Out for Netflix?

Wed, 08 Dec 10 16:38:32 -0500

Once defined by the red envelopes used to deliver DVDs for its mail order service, Netflix has turned its focus toward allowing subscribers to stream movies and other programming directly to their computers and television sets. The move has reaped rewards, including an increasing customer base, but created friction with the entertainment and technology companies Netflix competes with -- and, in many cases, relies on for gaining access to content. Wharton marketing professors Peter Fader and Raghuram Iyengar and operations and information management professor Kartik Hosanagar recently spoke with Knowledge@Wharton about what the future may hold for Netflix.

The Line between 'Confidence and Arrogance': UBS Americas CEO Robert Wolf on Work and Wall Street

Wed, 08 Dec 10 16:38:32 -0500

A "cowboy"-like confidence propelled UBS Americas CEO Robert Wolf from the football field to Wall Street and up the leadership chain. But much like the industry that supported his 26-year rise, Wolf has discovered that brazen bravado has its limits. During a recent Wharton Leadership Lecture, Wolf discussed his career in the banking industry, why he is stepping down from his current role and why Wall Street is better off now than it was before the crisis.

Why Kenya's Elkanah Odembo Believes All Roads Should Lead Investors to Africa

Tue, 23 Nov 10 15:27:40 -0500

Africa today contributes barely 1.5% to world trade, but its future is brighter than that number might suggest. The continent has a growing middle class, institutions that are investing heavily in infrastructure, and in another decade, it will emerge as a market of one billion consumers. Elkanah Odembo, Kenya's ambassador to the U.S., visited Wharton recently and spoke with Knowledge@Wharton about the potential rewards and risks of investing in Africa.

Fresh Off Its IPO, Can GM Stage a Comeback?

Tue, 23 Nov 10 15:27:40 -0500

After years of declining market share and unprofitability -- and a multi-million dollar bailout by the United States government -- General Motors is once again a publicly held company. The automaker, which raised some $20 billion through last week's initial public offering, is on sounder footing than it has been in years. Yet the new GM still must compete in a tough global market. So the question remains: Can the new GM perform better than the old GM? Knowledge@Wharton posed this question and others to Wharton management professor John Paul MacDuffie.

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

Wed, 10 Nov 10 14:15:08 -0500

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."

Falling Prices, Foreclosures and Fear: What's Next for the Housing Market?

Wed, 27 Oct 10 13:14:17 -0400

The U.S. housing market has been wobbly for several years, but it has shown some signs of perking up in recent months. The latest reports, however, indicate a setback, with median home prices dropping slightly and sales well below the already depressed levels of 2009. Yet a combination of low mortgage rates and apparent home-price bargains should still be drawing some buyers into the market. Knowledge@Wharton spoke with Wharton real estate professor Susan M. Wachter about the housing market's slow recovery, the prospect of another sharp dip in prices, the effect of foreclosures on the economy, and what it will take to get the market back on track.

Worlds Apart: What's Behind the U.S.-China Currency Dispute?

Wed, 13 Oct 10 14:48:17 -0400

Faced with the possibility of a global currency war, Western countries are increasing their scrutiny of China's currency policies, accusing Beijing of intervening in the markets to keep China's currency weaker than it would be otherwise. In the U.S., politicians and regulators say such tactics undermine efforts to boost exports, and thus take away jobs from American workers. But the controversy is more complicated than that, and touches on policies and attitudes that go back decades. Knowledge@Wharton spoke with Wharton professors Franklin Allen and Mauro Guillen about what is at stake, and why this particular conflict is so difficult to resolve.

PARC's Teresa Lunt: 'Figuring Out What Is Valuable for You to Know Right Now'

Wed, 26 May 10 13:56:42 -0400

Teresa Lunt, who directs the computing science laboratory at the Palo Alto Research Center, is involved in a wide range of activities, including ubiquitous computing, security and privacy, and ethnography for organizational environments and technology design. During a talk with Knowledge@Wharton at the recent Future of Publishing Conference in New York, she discussed a few of her current projects -- such as research into workplace efficiencies, a study on mobile advertising and the creation of a rich media information service for a customer in Japan.

Electric Literature Founders Andy Hunger and Scott Lindenbaum: 'Agitating' for Fiction

Wed, 26 May 10 13:57:17 -0400

Plenty of people in the publishing world fear that new media and the Internet will kill interest in reading literary fiction. Andy Hunter and Scott Lindenbaum, however, think of Twitter, YouTube and the iPad as opportunities to introduce new audiences to the art of the short story -- and to tell stories in unique ways. They are the founders of Electric Literature, a quarterly literary magazine that publishes using a print-on-demand model and enhances its stories through collaborations between authors and animators, filmmakers and musicians.

The Brave New World of Sovereign Wealth Funds

Wed, 26 May 10 16:26:29 -0400

Sovereign wealth funds, the large investment funds supported by governments, are mostly a positive economic force that can provide a shot in the arm to the companies -- and countries -- they invest in. They are also a stabilizing force for the nation where the investment originates. Those are some of the main takeaways from a new Wharton study, "The Brave New World of Sovereign Wealth Funds." In this interview with Knowledge@Wharton, Wharton management professor Mauro F. Guillén, who helped to oversee the research, and two Wharton MBA candidates present some of their key findings.

Improving Our Financial IQs: Why Managing Money Should Be a Lifetime Skill

Wed, 26 May 10 16:26:29 -0400

It's no secret that many Americans are financially illiterate, or unable to understand basic principles of money management. To address this situation, Wharton, Dartmouth and the Rand Corporation have established the new Financial Literacy Center, which will develop "educational materials and programs that help foster saving and retirement strategies over the life cycle." Annamaria Lusardi, an economics professor at Dartmouth who will help lead the new Center, and Michelle Greene, deputy assistant secretary for financial education and financial access at the U.S. Treasury Department, spoke with Knowledge@Wharton about the Center's goals and why individuals need to be more proactive about their financial health.

Cuil's Seval Oz Ozveren: Creating the Next Generation of Internet Search

Mon, 24 May 10 16:40:55 -0400

As use of the Internet grows and changes, so has the ability of users to search for specific content or stories, photos and videos that relate to certain topics of interest. One of the companies trying to harness and expand the power of search is Cuil, which is developing Cpedia -- an engine that promises less repetition, an encyclopedia-style summary for each search, and results that integrate related topics and input and recommendations from users' social networks. Cuil vice president of business development and finance Seval Oz Ozveren talked with Knowledge@Wharton during the recent Future of Publishing conference in New York.

Postcards from the Vineyard: Exploring the World of Wine Tourism

Tue, 25 May 10 16:23:25 -0400

In the book, In Search of Bacchus: Wanderings in the Wonderful World of Wine Tourism, author George M. Taber took on the task (someone had to do it) of visiting a dozen of the most breathtakingly beautiful wine regions around the globe. What he came back with is a travel guide for oenophiles that also serves as a primer on how and why winemakers are increasingly turning themselves into destination sites. In addition, Taber's tour opens a window on the growing segmentation of the travel industry as a whole and offers lessons about competitive advantage and marketing that apply to all consumer-driven businesses.

Bruised but Not Out: A Bullish View on the Future of Financial Innovation

Wed, 19 May 10 16:39:39 -0400

The Great Recession has given a black eye to the tools of financial innovation. Collateralized debt obligations, synthetic derivatives and other once-arcane investment vehicles are now the poster boys of what went wrong -- toxic players in the boom-and-doom scenario of the housing implosion and market rout. But these highly opaque and complex instruments are not representative of real financial innovation, which stresses transparency and responsible management of risk, argues Wharton finance professor Franklin Allen in his new book, Financing the Future: Market-Based Innovations for Growth, co-written with Glenn Yago, executive director of financial research at the Milken Institute. Financial innovation, properly used, has been the engine of growth through the centuries, Allen says, and is especially needed now to get the world economy on track again.

Changing Times at The Washington Post: Engaging Readers, Enhancing Content

Wed, 19 May 10 16:39:06 -0400

At the Wharton-sponsored Future of Publishing conference held on April 30 in New York, one of the panels looked at the changing nature of content, specifically the increasing popularity of user-generated content spilling forth from an ever-growing variety of sources. The panel included Katharine Zaleski, executive producer and head of digital news products for The Washington Post and before that, senior editor in charge of special projects at The Huffington Post. Following her participation in the panel discussion, Zaleski spoke with Knowledge@Wharton about her role at The Washington Post, the importance of packaging stories, why news sites need to offer other people's content, and what the future holds for investigative journalists, among other topics.

Crisis, Contagion and Bailouts: What's Next for the European Union?

Wed, 12 May 10 15:14:35 -0400

In the run-up to this week's announcement of the European Union's $960 billion stabilization plan, Wharton management professors Mauro Guillén and Saikat Chaudhuri, and Jean Salmona, founder and chairman of the editorial board of ParisTech Review, participated in an interview with Knowledge@Wharton on likely outcomes from the financial crisis facing Greece, some of its sister countries and the European Monetary Union more generally. How did events spin so out of control? How will the politics of the crisis affect the Eurozone's economic performance? Guillén, Chaudhuri and Salmona addressed these and other questions on May 7, just before the huge financial support package was announced.

How GE Builds Global Leaders: A Conversation with Chief Learning Officer Susan Peters

Wed, 12 May 10 15:14:35 -0400

In recent years, GE has faced severe business challenges -- the company's $200 billion market cap is half of what it used to be. Still, an area of enormous strength is the way the company identifies and builds leaders. Much of the credit goes to GE's corporate learning programs, executed through a learning facility in Crotonville, N.Y. As business becomes more global, how is leadership development at GE changing? How does GE use technology to teach leadership? What impact will the influx of the Facebook generation have on the way leadership is taught? Susan Peters -- GE's chief learning officer and vice president for executive development, and a speaker at the upcoming Wharton Leadership Conference on June 16 -- discussed these questions and more with Knowledge@Wharton.

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

Wed, 28 Apr 10 14:56:07 -0400

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.

Jeremy Siegel on the Dow Reaching 11,000: 'You've Still Got Upside'

Wed, 14 Apr 10 11:36:17 -0400

The Dow has closed above 11,000, the European Union is bailing out Greece and the U.S. economy seems to be perking up. Is the future as bright as it looks? In fact, it looks pretty good, says Wharton finance professor Jeremy Siegel. While the Dow's 11,000 close doesn't mean much to professional market watchers, it can give ordinary investors a psychological boost. According to Siegel, the U.S. economy is in a self-sustaining recovery, no longer dependent on government stimulus. And while the housing market could take years to make up recent losses, the economy -- and stocks -- should do well, he said in an interview with Knowledge@Wharton.

How Much Should You Charge? Why 'Smart Pricing' Pays Off

Wed, 14 Apr 10 11:36:17 -0400

Your company has developed a new product that you think will be a winner. A lot of money has been poured into research and development, analysis of the competition and advertising. But there is one key element you may have overlooked: What do you charge for the product? Wharton marketing professors Jagmohan Raju and John Zhang say companies frequently don't put anywhere near as much thought into pricing as they should. In their new book, Smart Pricing, Raju and Zhang argue that firms ought to engage in innovative pricing to achieve maximum profitability, and they show how companies like Google are doing just that.

Steve Wilson of FastPencil: Why the Next Chapter of Book Publishing Is 'Going to Be Monumental'

Wed, 14 Apr 10 11:36:17 -0400

High-tech e-book gadgets are one thing that is revolutionizing publishing. If companies like Silicon Valley startup FastPencil get their way, social-networking-based self-publishing services will be another. FastPencil is what CEO Steve Wilson calls a "next-gen" publisher, which uses social networking and an arsenal of widgets to take authors through their book projects from the drawing board to the bookshelf, potentially for as little as $10. In a recent interview with Knowledge@Wharton, Wilson discussed how FastPencil's motto -- "Write once, publish anywhere" -- is turning traditional book publishing on its head.

Linda Katz of Children's Literacy Initiative: Why Teaching in U.S. Classrooms Isn't Making the Grade

Wed, 31 Mar 10 14:51:19 -0400

"Dire" is one adjective that Linda Katz, founder and executive director of Children's Literacy Initiative (CLI), uses to describe the U.S. education system, which is leaving an increasingly high number of children without adequate reading and writing skills. For more than 20 years, CLI has been working with school systems across the country to overhaul how teachers are trained, hired and mentored. In an interview with Knowledge@Wharton, Katz discusses not only why classroom teaching is broken and what can be done about it, but also the secret to helping kids learn to love reading.

Google's Next Search: A New China Strategy?

Wed, 31 Mar 10 14:51:19 -0400

After discovering that hackers based in China had broken into the Gmail accounts of Chinese human-rights advocates, Google halted operation of its Internet search engine on the Chinese mainland earlier this month and started directing users to its Hong Kong site. On March 29, Chinese officials retaliated by blocking some of Google's mobile Internet services. While conflict may have seemed inevitable, what does it mean for Google's long-term plans for operating in China? And what lessons can other multinationals learn as this story plays out? Knowledge@Wharton asked Wharton management professor Marshall Meyer and marketing professor John Zhang these and other questions.

Wireless Technology: The Birds and the Bees ... and 4G

Wed, 17 Mar 10 17:58:09 -0400

Just when consumers thought they had their 3G wireless gadgets all figured out, it's now time to start getting a grip on the fourth generation of wireless technology -- which will be much faster and far more disruptive than anything we have experienced before, according to Scott Snyder in his recent Wharton School Publishing book titled, The New World of Wireless: How to Compete in the 4G Revolution. In an interview with Knowledge@Wharton, Snyder, who is president and COO of consulting firm Decision Strategies International, predicts 4G will revolutionize the way we work and play by creating "one giant wireless ecosystem" that buzzes with innovation.

Empty Pockets: What Does the Greek Debt Dilemma Mean for the Global Economy?

Wed, 03 Mar 10 15:50:03 -0500

Fear is growing that Greece may default on a massive pile of debt, creating a ripple effect of problems throughout Europe and beyond. Following pressure from the European Union and the European Central Bank, the Greek government on March 3 announced a new round of austerity measures that include spending cuts and tax increases which critics fear will harm Greece's economy. Meanwhile, Wall Street banks are facing scrutiny for the complex financial instruments they used to allegedly disguise the country's real debt. What caused Greece's debt problem to spin out of control? And what steps should it take to remedy the situation? Wharton finance professors Richard Herring and Itay Goldstein weigh in.

Brazil's Gold: How Rio Won Its Olympic Bid

Wed, 03 Mar 10 15:50:03 -0500

Last fall, after losing previous bids, Rio de Janeiro -- Brazil's second-largest city -- won the approval of the International Olympic Committee to host the 2016 Summer Olympic Games. According to Carlos Roberto Osorio, secretary general of the Brazilian Olympic Committee, this time around, Rio had learned from its earlier failed bids and had the success of hosting the 2007 Pan American Games under its belt. That, combined with Brazil's "special circumstances" of economic stability amid the global downturn, helped it to beat out rival cities. In an interview with Wharton professors Felipe Monteiro and Ken Shropshire, Osorio discussed the winning bid and the challenges that lie ahead.

Basics of Entrepreneurship: 'The Act of Being an Entrepreneur Is Indeed an Act of Leadership'

Tue, 02 Mar 10 21:37:22 -0500

Who are you? What do you stand for? What do you want? Entrepreneurs usually know the answers to those questions when they start up companies. But do their leadership teams? To make sure they do, top entrepreneurs develop a "blueprint" that will guide their companies as they grow from six to 60 to 600 employees, says Michael Useem, Wharton professor of management and director of its Center for Leadership and Change Management. In this installment of the podcast series for the Wharton-CERT Business Plan Competition, Useem discusses blueprints and other things that entrepreneurs need to develop successful leadership teams, including a knack for telling a good story.

Basics of Entrepreneurship: Dealing with Venture Capitalists

Tue, 02 Mar 10 21:37:30 -0500

A critical step in the creation of a new venture is raising the capital to bring the new business to life. What sources of capital can an entrepreneur tap and what factors must she or he keep in mind while going through the process? According to Stephen Sammut, a senior fellow and lecturer at Wharton, so-called angel investors represent one possible option. Another source is venture capitalists (VCs), who may fund start-ups or invest at a later stage in a company's growth. In this podcast for the Wharton-CERT Business Plan Competition, Sammut explains the promises and pitfalls of dealing with venture capitalists.

How Entrepreneurs Can Create Effective Business Plans

Tue, 02 Mar 10 21:37:47 -0500

When an entrepreneur has identified a potential business opportunity, the next step is developing a business plan for the new venture. What exactly should the new plan contain? How can the entrepreneur ensure it has the substance to find interest among would-be investors? In this installment of a series of podcasts for the Wharton-CERT Business Plan Competition, Wharton management professor Ian MacMillan explains that business plans must contain several crucial elements: They must articulate a market need; identify products or services to fill that need; assess the resources required to produce those products or services; address the risks involved in the venture; and estimate the potential revenues and profits.

Basics of Entrepreneurship: Why Start-ups Fail at Marketing -- and Possible Solutions

Tue, 02 Mar 10 21:37:41 -0500

Why do more than half of all start-ups fail? Because they bungle their marketing, according to Leonard Lodish, a professor of marketing at Wharton and co-author of two books, Entrepreneurial Marketing and Marketing That Works. "The dogs won't eat the dog food is the way venture capitalists describe it," Lodish says. The key lies in how a marketing plan is crafted. In this installment of the podcast series for the Wharton-CERT Business Plan Competition, Lodish explains that marketing plans must take into account three critical strategic and tactical factors: positioning, targeting and pricing.

'Badge' Value: Finding and Promoting Products That Inspire Customer Loyalty

Wed, 03 Mar 10 15:50:03 -0500

Alex Panos and his colleagues at TSG Consumer Partners, a San Francisco-based investment fund, believe that consumers will always be interested in products that enhance their lives, even if it means paying more than they have in the past. That philosophy has brought impressive results for TSG primarily in the beauty, food and beverage areas. Panos, who joined the 23-year-old firm in 1998, spoke with Knowledge@Wharton about the company's strategy, why it favors family-owned businesses, where to find opportunities in a recessionary economy and how to build up a brand, among other topics.

Executive Compensation: More Regulation, or Just More Transparency?

Wed, 17 Feb 10 17:36:07 -0500

The question of whether CEOs of America's major companies are overpaid has been a subject of interest for many years. Are the compensation practices for these elite men and women fair and appropriate? Do they provide proper incentives, or do they reward excessive caution or risk taking? Wharton accounting professors John Core and Wayne Guay have just completed a study on this topic. Guay, along with colleague Chris Armstrong, sat down with Knowledge@Wharton to discuss executive compensation and the controversies that it continues to generate.

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

Wed, 03 Feb 10 16:52:49 -0500

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.

Crisis in Haiti: Where Do We Go from Here?

Wed, 20 Jan 10 16:35:09 -0500

The earthquake that rocked Haiti last week has caused unimaginable death and destruction, a reminder that catastrophes are usually unforeseeable and therefore almost impossible to prepare for. Can any country or region of the world, rich or poor, take meaningful steps to avoid the destruction caused by catastrophes ranging from earthquakes and hurricanes to terrorist attacks and pandemics? Knowledge@Wharton asked professors Howard Kunreuther and Michael Useem, authors of a new book titled, Learning from Catastrophes: Strategies for Reaction and Response, and Morris A. Cohen to talk about the situation in Haiti and the challenges of dealing with such crises.

Jeremy Siegel on 2010: Good for Stocks, Bad for Bonds -- and Why Interest Rates Will Go Up

Wed, 06 Jan 10 15:21:35 -0500

U.S. stocks boomed in the last nine months of 2009, but remained well below earlier highs. Indeed, many people referred to the first 10 years of the 21st century as "the lost decade," because stocks returned virtually nothing while investors had been conditioned to expect 10% a year. Meanwhile, bonds and commodities experienced a stunning run. Have the rules of investing changed? What's ahead for 2010? Knowledge@Wharton talked with Wharton finance professor Jeremy Siegel, who sees some hazards, especially for bonds, but expects a good year for stocks.

Global Interdependence: Are the U.S and Other Markets 'Sowing the Seeds' for the Next Crisis?

Wed, 06 Jan 10 15:21:35 -0500

Despite renewed GDP growth and other positive signs, the U.S. isn't out of the woods, says Wharton finance professor Franklin Allen. In fact, the country could be heading into a "double dip" scenario that tips it back into a recession. That depends on how a number of factors play out in the coming months -- or even years -- not only in the U.S., but also around the world. Global interest rate policies, property markets and public deficits will all demand attention, Allen notes in a recent interview with Knowledge@Wharton.

The Road to China: Fresh Insights into the World's Fastest-growing Economy

Wed, 09 Dec 09 17:18:52 -0500

Earlier this year, Harbir Singh, Wharton’s vice-dean for Global Initiatives, launched a series of trips to foreign countries as a way for faculty to gain a deeper understanding of international economies and then use this knowledge in their teaching and research. Six professors recently visited the Chinese cities of Beijing, Shanghai and Shenzhen, and met with executives from Lenovo, Haier and Huawei, among other companies. Knowledge@Wharton asked three of the participants – Singh, management professor Saikat Chaudhuri and health care management professor Rob Burns – to share insights from their trip.

Changes in the Air: What Will Come of the Copenhagen Climate Summit?

Wed, 09 Dec 09 17:18:52 -0500

More than 100 world leaders gathered in Copenhagen on December 7 for a two-week summit meeting whose ambitious aim is to renew the Kyoto protocol on climate change. The issues being discussed include reducing emissions of green-house gases and setting a price for carbon, among others. What are the likely business implications of these issues? What new challenges and opportunities will they create during the coming months? Knowledge@Wharton discussed these topics with Wharton legal studies and business ethics professor Eric Orts; Howard Kunreuther, Wharton professor of decision sciences and public policy; and Erwann O. Michel-Kerjan, managing director of the Wharton Risk Management and Decision Processes Center. An edited transcript of the conversation follows.

M&A Is Back -- But This Time, It's Different

Tue, 24 Nov 09 16:13:30 -0500

If the past month is any indicator, acquisitions are not only thawing but heating up. In October, Comcast made a bid to merge its operations with NBC Universal to create a cable programming giant. In early November, Kraft Foods announced a $16.5 billion bid for U.K.-based chocolate maker Cadbury -- also being sought by confectioners Hershey and Ferrero. The activity spans several sectors, including technology, with Hewlett Packard's agreement to purchase 3Com for $2.7 billion, and Google's $750 million acquisition of AdMob. What's behind this shopping spree, and is the trend likely to continue? Knowledge@Wharton spoke with Wharton management professor Larry Hrebiniak and finance professor Pavel Savor about M&A strategy in a post-recession environment.

Workplace Challenges: Managing Layoffs, and Motivating Those Left Behind

Tue, 24 Nov 09 16:13:30 -0500

The current downturn has left many companies scrambling to manage workplace issues -- ranging from how to avoid a brain drain to how they can provide better value to customers and clients. Employees, for their part, face the challenges that arise from working in a leaner organization that demands increased productivity with fewer resources. Knowledge@Wharton talked about these issues with Peter Cappelli, director of Wharton's Center for Human Resources, and Philip Miscimarra, a partner in the labor and employment practice in the Chicago office of law firm Morgan, Lewis & Bockius and managing director of the Center for Human Resources research advisory group.

Apollo Management's Marc Rowan: 'The Best Returns Follow Chaos'

Wed, 11 Nov 09 16:18:47 -0500

Marc Rowan, founding partner of Apollo Management, one of the world's largest private equity investment firms, makes it sound simple: Stick to the fundamentals -- that is, buy a good business at a low price -- and you ultimately will see returns. Of course, identifying those businesses is the challenge. Rowan, who was in mergers and acquisitions at Drexel Burnham Lambert before starting Apollo, spoke with Knowledge@Wharton about how Apollo makes investment decisions, the challenges private equity faces in the coming months, the recent insider trading scandals and what he looks for in new hires.

How Entrepreneurs Identify New Business Opportunities

Mon, 09 Nov 09 10:20:48 -0500

A key question that all would-be entrepreneurs face is finding the business opportunity that is right for them. Should the new startup focus on introducing a new product or service based on an unmet need? Should the venture select an existing product or service from one market and offer it in another where it may not be available? Or should the firm bank on a tried and tested formula that has worked elsewhere, such as a franchise operation? In the first of a series of podcasts for the Wharton-CERT Business Plan Competition, Raffi Amit, a professor of management at Wharton, discusses these questions and more with Knowledge@Wharton. In the process, he offers insights into how entrepreneurs can identify new business opportunities and evaluate their potential and their risks.

Crackdown on Executive Pay: Too Much or Not Enough?

Wed, 28 Oct 09 17:19:29 -0400

Last week, the Obama administration's "pay czar," Kenneth Feinberg, announced that the government will impose caps on compensation for the 25 highest-paid executives at seven companies that received "exceptional assistance" through the Troubled Asset Relief Program -- including American International Group (AIG), Bank of America, Citigroup, Chrysler, Chrysler Financial, General Motors and GMAC. Under the new regulations, salaries will be reduced by an average of 90%, and total compensation (including bonuses and stock options) will be lowered by 50%. Knowledge@Wharton spoke with Wharton accounting professor Wayne R. Guay and then with finance professor Alex Edmans about what these changes could mean for Wall Street, company shareholders and taxpayers.

Lippo Group CEO James Riady: 'Money and Power Are a Blessing and a Curse'

Wed, 28 Oct 09 17:19:29 -0400

James Riady is the CEO of Lippo Group, one of Indonesia's largest conglomerates with annual revenues of some $3 billion. The Group, among the most active property developers in Southeast Asia, has expanded into China and Hong Kong and plans to invest $10 billion over the next five years in the Asia Pacific region. It also has interests in media, telecommunications, retail and health care. Fifteen years ago, Riady was responsible for the establishment of Universitas Pelita Harapan in Indonesia, and he has a strong interest in the social impact of business. During an interview with Knowledge@Wharton, Riady explained the lessons he has learned over the years from successes and failures in business and politics.

New Approaches to New Markets: How C.K. Prahalad's Bottom of the Pyramid Strategies Are Paying Off

Wed, 14 Oct 09 15:33:51 -0400

Five years ago, C.K. Prahalad published a book titled, The Fortune at the Bottom of the Pyramid, in which he argues that multinational companies not only can make money selling to the world's poorest, but also that undertaking such efforts is necessary as a way to close the growing gap between rich and poor countries. Key to his argument for targeting the world's poorest is the sheer size of that market -- an estimated four billion people. How has Prahalad's book -- a revised, fifth-anniversary edition of which has just been published -- affected the behavior of companies and the well-being of consumers in the years since its publication? Knowledge@Wharton checked in with the author for an update, including examples of specific companies that are implementing Bottom of the Pyramid strategies.

Comcast and NBC Universal: The Rise of a Content King?

Wed, 14 Oct 09 15:33:51 -0400

Philadelphia-based Comcast, the largest cable company in the U.S., has made a bid to merge its operations with NBC Universal -- home to the NBC television network, Universal Studios and popular cable channels including Bravo, USA, CNBC and MSNBC. If the deal goes through, it would create a programming giant, allowing Comcast to produce and distribute content throughout its cable networks and on web sites such as Hulu, which is partially owned by NBC Universal. Steve Ennen, managing director of the Wharton Interactive Media Initiative, spoke with Wharton marketing professor Pete Fader and Ken Shropshire, professor of legal studies and business ethics, about what the deal could mean for content distribution and for consumers.

Five Questions: What's New with Net Neutrality and India's Mobile Markets?

Wed, 30 Sep 09 17:48:04 -0400

Federal Communications Commission chairman Julius Genachowski in late September outlined principles of net neutrality to promote more open use of the Internet. What will these developments mean for business in the U.S. and other parts of the world? In a new interview format called Five Questions, Rajesh Jain, CEO of India-based Netcore, asks Wharton legal studies and business ethics professor Kevin Werbach about net neutrality. In the second part of the interview, roles are reversed and Werbach poses five questions to Jain about opportunities in the Indian mobile market, which is going through explosive growth.

A Year after Lehman's Collapse: What Does Wall Street Look Like?

Wed, 16 Sep 09 16:45:37 -0400

On September 14, President Barack Obama gave a speech in New York to mark the anniversary of the Lehman Brothers failure. It was a year ago when -- during the course of a single jaw-dropping week -- the investment bank declared bankruptcy; Bank of America took over Merrill Lynch; and the U.S. federal government bailed out American International Group. How has Wall Street changed during the past year, and what will these changes mean for investors? What new financial regulations have been discussed, and how much longer will it take the U.S. economy to emerge from the woods? Knowledge@Wharton posed these and other questions to finance professors Jeremy Siegel and Richard Herring.

FCC's Cable TV Ruling: Will the Competitive Landscape Change?

Wed, 02 Sep 09 16:37:02 -0400

For cable TV companies in the U.S., August 28 was a day to celebrate. Ending several years of regulatory battles, a ruling by the U.S. Court of Appeals came down in favor of Philadelphia-based Comcast, which sought to overturn the Federal Communications Commission's contentious 30% market share limit on cable TV operators. Not everyone is happy about the ruling, fearing it will lead to cable monopolies. In contrast, Peter S. Fader, professor of marketing and co-director of the Wharton Interactive Media Initiative, sees this as a "golden age" for the industry and consumers alike. Fader spoke with Knowledge@Wharton about why the recent ruling is likely to make the landscape more, not less, competitive.

Bangkok's Bumrungrad Hospital: Expanding the Footprint of Offshore Health Care

Wed, 02 Sep 09 16:37:02 -0400

Thailand's Bumrungrad International Hospital is one of a growing number of institutions making a name for themselves among "medical tourists" by offering patients from Boston to Bahrain a combination of lower-cost, state-of-the-art medical care along with service worthy of a five-star hotel. But what will it take for such hospitals to gain acceptance among national policy makers, major insurers and employers? Mack Banner, CEO of Bumrungrad, and Kenneth Mays, the hospital's director of marketing, recently met with Ravi Aron, a senior fellow at Wharton, to discuss the future of offshore health care.

Information Security: Why Cybercriminals Are Smiling

Wed, 19 Aug 2009 19:35:00 GMT

With Internet usage forecast to grow 45% globally over the next four years, the web has become a paradise for cybercriminals. Many people don't yet fully understand the enormity of the threat -- to individuals, their families and the companies that they work for, warns Andrea M. Matwyshyn, professor of legal studies and business ethics at Wharton and editor of a forthcoming book titled, Harboring Data: Information Security, Law and the Corporation. In an interview with Knowledge@Wharton, Matwyshyn and two of the book's contributors discuss the major risk management gaps that are leaving valuable data assets unprotected.

Farhad Mohit: DotSpots and the Wisdom of Crowds

Wed, 19 Aug 2009 19:35:00 GMT

Entrepreneur Farhad Mohit is hardly resting on his laurels, although he could. In 1996, he launched BizRate, a consumer rating site, and then in 2004, Shopzilla, a shopping search engine. His latest venture is DotSpots, a service that lets people update the news in real-time with dots, or distributed objects of thought. These could include mini-blog posts containing text, videos, images, documents, perspectives from the blogosphere or eye-witness accounts from the scene. Mohit talked with Knowledge@Wharton about DotSpots, the publishing industry, the wisdom of crowds, what he learned from his previous successes and the importance of finding the right team, among other topics.

Can 'Cash for Clunkers' Help Jump-start the Auto Industry?

Wed, 5 Aug 2009 19:35:00 GMT

Ford reported its first sales gain in 20 months, thanks to the U.S. government's "cash for clunkers" rebate program that gives consumers a rebate of up to $4,500 to trade in older cars for new and more fuel-efficient models. Other manufacturers said their continuing sales declines would have been worse without the program. All in all, the officially named Car Allowance Rebate System (CARS) provided taxpayers with a good return on their investment, Wharton management professor John Paul MacDuffie says in an interview with Knowledge@Wharton. But, he adds, the auto industry -- most notably GM and Toyota -- have a lot of work to do to prepare for a marketplace transformed by the financial crisis and growing demand for fuel efficiency.

One War We Shouldn't Avoid: A New Approach to Reducing the Cost of Future Catastrophes

Wed, 8 Jul 2009 19:35:00 GMT

In 2005, three major hurricanes -- Katrina, Rita and Wilma -- struck the U.S. Gulf Coast area, causing not just death and destruction, but also leading to insurance payments and federal disaster relief of more than $180 billion. Today, say the authors of a new book titled, At War with the Weather: Managing Large-Scale Risks in a New Era of Catastrophes, the U.S. is even more vulnerable to catastrophic losses. Written by Howard Kunreuther and Erwann Michel-Kerjan, with colleagues Neil Doherty, Martin Grace, Robert Klein and Mark Pauly, At War with the Weather analyzes current thinking about catastrophes and proposes new, long-term solutions for reducing loss and providing financial protection against future disasters.

The New Role of Risk Management: Rebuilding the Model

Mon, 29 Jun 2009 19:03:00 GMT

Risk managers armed with the most sophisticated quantitative tools available did not foresee the biggest development in a generation -- the systematic breakdown and global contagion of financial markets. In an interview with Knowledge@Wharton, John Drzik, president and CEO of the Oliver Wyman Group, Richard J. Herring, a finance professor at Wharton, and Francis X. Diebold, a Wharton professor of economics, finance and statistics, discussed how to build a more informed risk management model. All three took part in the recent Wharton Financial Institutions Center and Oliver Wyman Institute 12th Annual Financial Risk Roundtable 2009.

Jeremy Siegel: 'The Market Will Stage Another Recovery'

Wed, 24 Jun 2009 19:03:00 GMT

Now that it's clear the recession will not turn into a depression, stocks are poised for a recovery, says Wharton finance professor Jeremy J. Siegel. In an interview with Knowledge@Wharton, he said last week's market decline in response to rising commodity prices -- especially for energy -- and fear of the ever-growing federal deficit was no more than a short-term setback.

Raghda Shaheen: Bridging Two Worlds -- America and The Middle East

Tue, 23 Jun 2009 14:03:00 GMT

Raghda Shaheen, who works for the Dubai International Finance Centre, recently completed a four-week business and legal fellowship program at Wharton and the University of Pennsylvania law school. The program, funded by the U.S. Department of State Middle East Partnership Initiative (MEPI) and supported by America-Mideast Educational and Training Services (AMIDEAST), teaches management, business and legal skills to women from the Middle East and North Africa. This year, 22 women from 11 countries attended the program. Shaheen will spend the next three months working at the Chicago Chamber of Commerce before returning to the UAE. She spoke with Knowledge@Wharton about her experiences in Gaza City, Canada, the U.S. and the Middle East

Providence Equity's Gaurav Sharma: 'Private Equity Is Now a More Mature Market'

Thu, 18 Jun 2009 20:03:00 GMT

In the world of private equity, Providence Equity Partners is a specialist. The firm, whose headquarters are in Providence, R.I., specializes in deals involving media, entertainment, information and communications companies. In 2007, Providence Equity opened its New Delhi office, headed by Biswajit (Bis) Subramanian, who had earlier been a managing director in the firm's London office. By mid 2008, Providence Equity had invested more than US$1 billion in Idea Cellular, which, according to media reports, was among the largest private equity investments in India's telecom sector. What is Providence Equity Partners' strategy for India? How has it changed as a result of the global financial crisis? In an interview with India Knowledge@Wharton, Gaurav Sharma, who works with Subramanian on defining and executing Providence Equity Partners' India strategy, discusses those questions and more.

Warning: Big Financial Firms May Be Riskier Than They Appear

Wed, 10 Jun 2009 20:03:00 GMT

Large financial institutions have failed with much higher frequency than is generally perceived, says Andrew Kuritzkes, a partner at Oliver Wyman and head of the management consulting firm's public policy practice in North America. In this interview with Knowledge@Wharton, Kuritzkes suggests some new guidelines that would greatly improve the financial system's ability to absorb the inevitable, if individually unpredictable, shocks of big failures.

Cautious Optimism for GM's Re-invention

Tue, 2 Jun 2009 19:00:00 GMT

Wharton management professor John Paul McDuffie, an expert on the auto industry, says he's "cautiously optimistic" that General Motors can now be transformed into a leaner and more competitive player on the global stage. In an interview with Knowledge@Wharton, he notes that there are many aspects of the plan that have to go just right -- not the least of which is avoiding the influence of politics in the company's marketplace decisions. But he says he is encouraged by the company's decision to close a plant in Wilmington, Del., even though it is Vice President Biden's hometown.

Entrepreneur Elon Musk: Why It's Important to Pinch Pennies on the Road to Riches

Wed, 27 May 2009 19:00:00 GMT

Superpreneur seems like a better label for Elon Musk. At 38, he has already been a co-founder of PayPal, which sold for $1.5 billion, and SpaceX, which aims to commercialize the launching of payloads into orbit. He is also an initial investor in electric-car pioneer Tesla Motors and solar energy company SolarCity, which sells and services solar energy equipment. In the second half of a two-part interview, arranged by Wharton Entrepreneurial Programs, he tells Knowledge@Wharton the story of his entrepreneurial beginnings and what he learned about the value of pinching pennies.

Tesla Motors CEO Elon Musk: 'Great Companies Are Built on Great Products'

Wed, 13 May 2009 19:00:00 GMT

Entrepreneur Elon Musk has three passions: the Internet, space exploration and clean energy. The first paid off handsomely for him in 2002 when he sold PayPal to eBay for $1.5 billion in stock. The second is fueled by SpaceX, a company that makes space launch vehicles. Musk's third passion is Tesla Motors, which makes the Tesla Roadster, an electric sports car that claims to go 244 miles per charge and sells for $101,500 or more. In the first of a two-part interview with Wharton Entrepreneurial Programs and Knowledge@Wharton, Musk speaks with management professor John Paul MacDuffie, co-director of the International Motor Vehicle Program, about electric cars, hybrids, the Tesla and the mysterious ways of Detroit.

Why Stock-price Volatility Should Never Be a Surprise, Even in the Long Run

Wed, 29 Apr 2009 19:00:00 GMT

Equities are subject to much wider price swings than previously understood, according to a recent paper co-authored by Wharton finance and economics professor Robert Stambaugh. The research adds a new perspective to the work of Wharton finance professor Jeremy J. Siegel, author of the book Stocks for the Long Run, which says stock returns more than offset risks if you stay with the market through its ups and downs. In a recent interview with Knowledge@Wharton, the professors described their views about the market's long-term behavior.

David Roberts, of Private Equity Firm Angelo, Gordon, on Adapting to Market Transformation

Mon, 20 Apr 2009 15:00:00 GMT

The world of private equity has been in a shambles since the onset of the financial crisis, but some executives see that as an opportunity rather than a threat. Among them is David N. Roberts, senior managing director of Angelo, Gordon, who manages the firm's private equity business. Roberts also founded the firm's opportunistic real estate area. During a visit to campus recently, Roberts pointed out that some opportunities are starting to open up that could ease the credit crunch.

A Thought for Tax Day: The Real Fiscal Crisis Is Yet to Come

Wed, 15 Apr 2009 15:00:00 GMT

Even the biggest tax hikes will not raise enough money to pay off the national debt or meet coming obligations to retiring baby boomers for Medicare and Social Security. To accomplish the latter, politicians must do something they fear even more than raising taxes: Reduce Medicare and Social Security benefits. In an interview with Knowledge@Wharton, insurance and risk management professor Kent Smetters discussed the impending crisis.

New Rules for a New Age: Creating an 'Economic Stimulus Agency' out of the FCC

Wed, 1 Apr 2009 15:00:00 GMT

Wharton legal studies and business ethics professor Kevin Werbach recently worked with the Obama administration's transition team on a review of the Federal Communications Commission and related technology and telecommunications issues. In an interview with Knowledge@Wharton, he says that advances in technology and the urgent need to restart the economy require the commission to rethink its role -- not just as a regulator, but as an agency that creates jobs and encourages investment.

Jeremy Siegel: 'Once the Market Has Fallen 50%, Your Future Returns Are Even Better'

Wed, 18 Mar 2009 15:00:00 GMT

U.S. stocks raised eyebrows this week and last, closing higher in six of seven trading days, including four in a row from March 10 to 13. But how does the market look for the longer term? In an interview with Knowledge@Wharton, Wharton finance professor Jeremy J. Siegel says he was pleased to see consecutive gains after so many declines. He adds that history provides lots of evidence that stocks remain good long-term investments, especially when they are down 50% from their peak.

Givology: Using Social Networks to Connect Education with the Developing World

Wed, 18 Feb 2009 15:00:00 GMT

Nine months ago, a group of Wharton students launched an online site called Givology.org, whose purpose is to raise money for scholarships and education projects in the developing world. Givology's vision, according to chief development officer Catherine Gao, is that of a global community of individuals connected through their belief in the power of education to change people's lives. The group, which so far has attracted more than 200 lenders, has partnerships in China, India, Uganda, Ecuador and Kenya. Gao and Maria Davydenko, the site's chief creative director, spoke with Knowledge@Wharton about Givology and why they each donate more than 10 hours a week to this project.

Take Two Advil and ... What Ills Can the Pfizer-Wyeth Merger Cure?

Wed, 4 Feb 2009 20:00:00 GMT

When the giant pharmaceutical company Pfizer announced on January 26 that it was acquiring Wyeth for $68 billion, analysts started questioning what benefits the deal would bring and for whom. Pfizer executives suggest the acquisition makes strategic sense by expanding the company into a range of new areas, and by helping make up for an expected loss of more than $12 billion in annual revenues once its Lipitor patent expires in 2011. But Wyeth also brings some liabilities -- notably, continuing lawsuits over its hormone replacement drugs and fen-phen diet pill. Knowledge@Wharton asked Wharton health care professor Patricia Danzon and marketing professor Jagmohan Raju to offer their views on the pros and cons of the deal.

Why Sutherland Global Succeeds: An Interview With CEO Dilip Vellodi

Mon, 2 Feb 2009 20:00:00 GMT

Sutherland Global Services was involved in business process outsourcing long before the term became widely known. Headquartered in Rochester, N.Y., Sutherland Global has 22,000 employees and operations in seven countries, including India, the Philippines, Canada, Mexico and Bulgaria. India Knowledge@Wharton and Ravi Aron, a senior fellow at Wharton's Mack Center for Emerging Technologies, spoke with Dilip R. Vellodi, CEO of Sutherland Global Services, about the company's business model and its future.

Economists to Obama: Get the Government out of the Banking Business

Wed, 21 Jan 2009 20:00:00 GMT

On the eve of Barack Obama's inauguration as president of the United States, Wharton finance professor Richard J. Herring discussed with Knowledge@Wharton some of the advice offered to the new chief executive by the Shadow Financial Regulatory Committee, a group of economists, former regulators and lawyers, of which Herring is a co-chair. Among the recommendations: As quickly as possible, unwind federal investments that helped keep U.S. banks afloat. Herring also assessed the deepening woes at Citigroup, which this week named board member Richard Parsons as its new chairman, a move intended to provide stronger leadership at the troubled bank.

Equity International's Gary Garrabrant: 'Bearish' on the U.S., 'Bullish' on Emerging Markets

Mon, 19 Jan 2009 10:00:00 GMT

Those countries that had easy access to debt -- such as the U.S. and Japan -- are taking the biggest hit from the current financial crisis, while those countries without access to debt capital -- such as Brazil -- have been somewhat spared, according to Gary Garrabrant, CEO of Equity International. During the Knowledge@Wharton Real Estate in Emerging Markets Forum, Garrabrant spoke about his company's strategy for weathering the down market, how investment decisions are made, and what he sees happening in the next 18 to 24 months.

Cyrela Brazil Realty's Elie Horn: 'My Strategy Now Is to Stay Quiet'

Fri, 16 Jan 2009 10:00:00 GMT

These are volatile times for Brazilian real estate, which mirrors the situation in most countries. But according to Elie Horn, chairman and CEO of Cyrela Brazil Realty, Brazil's largest developer of residential properties, Brazil doesn't have the deep-rooted problems of the U.S. market. It's just a matter of lying low for some time until confidence returns, he suggests in an interview with Knowledge@Wharton.

Gávea Investimentos' Arminio Fraga: 'We Are Still in Crisis Mode'

Wed, 14 Jan 2009 10:00:00 GMT

Arminio Fraga was president of the Central Bank of Brazil from 1999 to 2002. He has sometimes been called the Alan Greenspan of Latin America, though that comparison may not sit well these days as Greenspan comes in for his share of the blame for the global financial crisis. In 2001, Fraga founded the Rio de Janeiro-based Gávea Investimentos, an independent asset management company. It operates principally in the areas of hedge funds, wealth management and illiquid investment strategies. In an interview with Knowledge@Wharton, Fraga draws upon his wide experience and understanding to talk about the financial crisis, its causes and future concerns.

Banco Itaaú BBA's Candido Bracher: 'The Party Will Not Be as Fancy as Before'

Tue, 13 Jan 2009 10:00:00 GMT

Economic crises around the globe have often hit Brazilian banks hard, with capital flight hammering the country's currency, the real. But Brazil's financial institutions seem better positioned to weather the current worldwide credit crunch, although lending there is just as frozen as it is elsewhere, according to Candido Bracher, president and chief executive officer of the São Paulo-based Banco Itaú BBA, one of the country's largest private banks. In an interview with Knowledge@Wharton, Bracher discusses how the international market turmoil has affected Brazil and how this differs from the financial crises of the 1990s. He also speaks about what a commodity-price "hangover" could mean for the country's economy.

The Bernard Madoff Case: Trust Takes Another Blow

Wed, 7 Jan 2009 15:00:00 GMT

Successful marketplaces -- indeed, all social systems -- require a level of ethical behavior among their participants. In an interview with Knowledge@Wharton, professors Maurice E. Schweitzer and G. Richard Shell, who have conducted extensive research on the role of trust in markets, explain why even the most sophisticated investors put their faith in Bernard Madoff, the New York City financier recently accused of running a $50 billion Ponzi scheme. That breach of trust has damaged the broader markets, Schweitzer and Shell say.

The World Wildlife Fund's Carter Roberts: How to Connect the Dots between Corporate America and Conservation

Mon, 5 Jan 2009 10:00:00 GMT

From a childhood spent exploring the woods near his home, to a career spent protecting habitats in the far corners of the earth, Carter Roberts -- president and CEO of the non-profit World Wildlife Fund -- has fostered a connection to the natural world. His job is as diverse as the ecosystems he visits. One day he may be negotiating with the president of a corporation, and the next he is sitting on a dirt floor talking with villagers about the importance of saving tigers.He spoke with Knowledge@Wharton about his passion for nature, why companies should care about preserving natural resources, and the value of story-telling.

Seth Goldman: Brewing Organic Tea with a Mission-based Business Model

Thu, 1 Jan 2009 10:00:00 GMT

In 1998, social entrepreneur Seth Goldman founded Honest Tea, the nation's best-selling and fastest-growing organic bottled tea company, with a business professor from the Yale School of Management. Honest Tea sources from organic and fair trade tea estates, and has partnered with community development groups ranging from the Crow Reservation in Montana to organizations in South Africa and Guatemala. Goldman talked with Knowlege@Wharton about carving out space in the competitive beverage market, helping consumers embrace organics and how tea became the catalyst for following his life's passion.

YouthAIDS' Kate Roberts: Using Marketing Skills and Media to Keep Young People Alive

Mon, 29 Dec 2008 10:00:00 GMT

Kate Roberts is the founder and director of YouthAIDS and Five & Alive, two marketing programs implemented by Population Services International (PSI), where she is a vice president. Founded in 2001, YouthAIDS is a global education and prevention initiative that uses pop culture, music, theater, movies and sports to stop the spread of HIV/AIDS. The program reaches 600 million young people in more than 60 countries with life-saving products and services. In 2002, YouthAIDS partnered with MTV to produce the "Staying Alive" concert, a $3 million event broadcast worldwide and featured on all major news channels. Roberts spoke with Knowledge@Wharton about cause-related marketing, the Indian film industry and an event in Africa that changed her life, among other topics.

Coca-Cola's John Brock: Sustainability Is No Longer 'Niche'

Fri, 26 Dec 2008 10:00:00 GMT

John Brock has come a long way since his first jobs working in his uncle's dime store and, later, at a paper mill in Moss Point, Miss. Today, he is chairman and CEO of Coca-Cola Enterprises, the world's largest marketer, producer and distributor of Coca-Cola products. Brock has more than 25 years of experience in the beverage sales industry. In 2003, he was named CEO of Interbrew, headquartered in Brussels, Belgium. In 2006, he joined Coca-Cola Enterprises where he was appointed chairman in April 2008. Brock talked with Knowledge@Wharton about Coke's philosophy on selling soda in schools, helping the environment and recruiting teens to become devoted customers.

Room to Read's John Wood: Bringing the Power of Education to Children around the World

Tue, 23 Dec 2008 10:00:00 GMT

After a trek in the Himalayas brought him face-to-face with extreme poverty and illiteracy, John Wood left his position as a director of business development at Microsoft to found Room to Read, an award-winning international education organization. Under his leadership, more than 1.7 million children in the developing world now have access to enhanced educational opportunities. Room to Read to date has opened 725 schools and 7,000 bilingual libraries, and funded more than 7,000 scholarships for girls. Wood talked with Knowledge@Wharton about the launch of Room to Read, the book he wrote called Leaving Microsoft to Change the World and his personal definition of success.

Bernardo Gradin: Our Goal Is to Become One of the 10 Most Valued Petrochemicals Companies

Thu, 18 Dec 2008 10:00:00 GMT

Brazil's petrochemicals industry has been going through active consolidation, a phase that is almost at an end. That process, however, has seen the creation and growth of Braskem, a giant of a firm that is the largest petrochemicals producer not just in Brazil but in all of Latin America. Bernardo Gradin, who has been part of Braskem since the company's formation in 2002, took over in July as its CEO. In an interview with Knowledge@Wharton conducted at the company's Sao Paulo headquarters, Gradin discussed Braskem's goal of becoming one of the world's top 10 petrochemical companies as measured by shareholder value.

Alberto Duran: My Biggest Problem Is Creating Middle Management

Wed, 17 Dec 2008 10:00:00 GMT

Alberto Duran, founder and CEO of Mundivox Communications of Brazil, has seen the world of telecommunications from various perspectives. He worked in the telecom sector for J.P. Morgan in New York, and Bain & Company and Monitor Company in Boston and London. He specialized in the development of strategies for major industry players worldwide, including privatizations and M&A in North America, Europe and Asia. In 1999, Duran founded Mundivox Communications in Brazil. In an interview with Knowledge@Wharton, he talks about the troubled environment in the wake of the slowdown and the key issues in managing a company that is growing at an astonishing 100% a year.

The Son Also Rises: Donald Trump, Jr., on Real Estate Opportunities in Emerging Markets

Wed, 10 Dec 2008 10:00:00 GMT

Back in the heady days of the real estate boom, property prices in New York City soared along with those in the rest of the U.S. When the subprime mortgage crisis hit and prices collapsed, the city's market held out longer than others -- for two reasons. First, it is a major financial center with strong demand; and second, the weak dollar made it possible for international buyers and investors to find deals at discounts as high as 40%. Where will the New York market be in 2009? Where are the most attractive deals to be found in emerging markets? In a podcast recorded at the Knowledge@Wharton Real Estate Forum on Emerging Markets on December 2, Donald Trump, Jr., executive vice president of development and acquisitions at the Trump Organization, speaks about those questions and more. He also discusses how he views his unique contribution to expanding the Trump brand overseas, building on the foundation laid by his famous father.

Jeremy Siegel's Advice to Banks: Lend That Money Now

Wed, 26 Nov 2008 10:00:00 GMT

At a time when many bulge bracket investment banks are drowning as a result of the financial crisis, Moelis & Co. is swimming against the tide. Founded in July 2007 by Kenneth D. Moelis, a Wall Street veteran, the Los Angeles-based firm has been busy hiring. In just about 15 months, it has recruited more than 150 people, including some 100 bankers, besides opening offices in Chicago, New York and Boston. How will the continuing financial turmoil affect the fledgling investment bank's business? What opportunities can investors find amid the wreckage? In an interview with Knowledge@Wharton, Moelis discussed these issues and more.

Finding Opportunities amid the Wreckage

Thu, 20 Nov 2008 11:00:00 GMT

Digital Network Group's Innovative IT Approach to Mentoring Both Students and Non-profits

Thu, 20 Nov 2008 10:00:00 GMT

Jim Smith and Vikrant Kothari each had ambitions to start a company whose focus would be on using information technology as a way to help solve social problems. But it wasn't until they met in Wharton's MBA Program for Executives that their idea came together in the form of the Digital Network Group. Two affiliates under the Digital Network Group umbrella include one targeted to helping non-profits develop innovative and long-term IT strategies; the other is a service program that shows how IT and mentoring can help disadvantaged young people, from middle school on up, become productive members of society. Smith and Kothari spoke to Knowledge@Wharton about these initiatives.

Job Survival Advice: Don't Fear the Whitewater

Thu, 13 Nov 2008 10:00:00 GMT

Change is the new status-quo, and success at work will require agility, talent and the ability to learn from -- rather than fear -- failure, according to Gregory Shea, adjunct professor of management at Wharton, and business writer Robert Gunther. The two recently co-authored a book titled, Your Job Survival Guide, a Manual for Thriving in Change.

High-leverage Innovation, Part Three: Lessons from the Auto Industry

Mon, 10 Nov 2008 12:00:00 GMT

In this final part of a three-part interview, Wharton professor of operations and information management Karl Ulrich and Kevin Dehoff, a partner at Booz & Company, talk about innovation in the auto industry -- what constitutes it, why some manufacturers, like Toyota, are more innovative than others, and the role that customers play in innovative product development.

High-leverage Innovation, Part Two: Models of Collaboration

Mon, 10 Nov 2008 11:00:00 GMT

In this second part of a three-part interview, Wharton professor of operations and information management Karl Ulrich and Kevin Dehoff, a partner at Booz & Company, discuss the competitive advantages of global innovation networks, the challenges companies face in cross-border R&D collaboration, and how models of collaboration will likely evolve.

High-leverage Innovation, Part One: Spending and Performance

Mon, 10 Nov 2008 10:00:00 GMT

Money isn't the key to successful innovation. In fact, many companies spend far less than their competitors on R&D to achieve far better performance. To learn why that's the case, Knowledge@Wharton and strategy+business spoke with Karl Ulrich, Wharton professor of operations and information management, and Kevin Dehoff, a partner at Booz & Company. In this first part of a three-part series, Dehoff and Ulrich discuss the relationship between spending on innovation and corporate performance, how projects are valued in a portfolio, and the importance of screening opportunities.

Opportunities -- and Obstacles -- for the B2B Market in Tough Economic Times

Wed, 5 Nov 2008 10:00:00 GMT

While discussion at the recent Erin Anderson B2B Research Conference at Wharton focused on cutting-edge research in the field of business-to-business relationships, participants also acknowledged the impact on marketers of the ongoing financial meltdown. Along those lines, three university professors and a moderator took part in a panel that analyzed the effect of the economic downturn on the B2B global marketplace. The Conference, sponsored by the Wharton INSEAD Alliance, was held in honor of Erin Anderson, a marketing professor at Wharton from 1981 to 1994, and at INSEAD from 1994 until her death in 2007.

Feeling the Pain: How the Financial Crisis Is Affecting Brazil, Russia, India and China

Wed, 29 Oct 2008 10:00:00 GMT

As the financial crisis continues to roil credit and stock markets around the globe, it seems that no country or continent is being spared the consequences. Brazil, Russia, India and China -- the BRIC countries -- are no exception. In this Knowledge@Wharton podcast, Shiv Khemka, vice chairman of Sun Group, based in London, New Delhi and Moscow; Silas K.F. Chou, president and CEO of Novel Holdings, based in Hong Kong; and Odemiro Fonseca, founder of Viena Rio Restaurantes in Rio de Janeiro, discuss their countries' response to the crisis, its impact on specific sectors, the decoupling hypothesis and the dangers of protectionism, among other topics.

Richard Marston and Jeremy Siegel: Will the Bank Plan Revive Global Markets?

Wed, 15 Oct 2008 10:00:00 GMT

With stock markets in freefall, U.S. Treasury Secretary Henry Paulson announced on Tuesday that the government's effort to unlock credit markets would include direct investments of $250 billion in bank equities. He also warned bankers not to hoard the money, but to use it to make the loans that lubricate the nation's economy. In separate interviews, Wharton finance professors Richard Marston and Jeremy Siegel tell Knowledge@Wharton that while the investment is not without risk, it appears to be the best hope for restoring confidence in credit and stock markets -- and reducing the severity of a recession that is all but certain to come.

BCG's Hal Sirkin on 'Globality' and the New Two-way Street of Global Business

Fri, 26 Sep 2008 10:00:00 GMT

According to Hal Sirkin, senior partner and managing director at The Boston Consulting Group, The age of globalization is over. In its place is a new reality that Sirkin and BCG colleagues Jim Hemerling and Arindam Bhattacharya define in their recently published book, GLOBALITY: Competing with Everyone from Everywhere for Everything. In an interview with Knowledge@Wharton, Sirkin describes how rapidly developing economies like India and China have changed global business from a one-way street benefitting Western multinationals to a two-way competition in which blending the best of the East with the best of the West is most likely the winning formula.

AIG Rescued but Crisis Continues

Mon, 22 Sep 2008 10:00:00 GMT

After refusing to bail out Lehman Brothers, the government agreed to an $85 billion loan to insurance giant AIG, effectively taking over the company. Knowledge@Wharton talked to Wharton insurance professors Olivia Mitchell and Kent Smetters to find out how the world's largest insurer got into this situation and how it can be prevented from happening again.

Jeremy Siegel on the Market: Rough Going for Now, but Stocks Still a Good Bet

Wed, 17 Sep 2008 10:00:00 GMT

The government's rescue of Fannie Mae, Freddie Mac and AIG demonstrated clearly that the financial turmoil continues on Wall Street. In an interview with Knowledge@Wharton, Wharton finance professor Jeremy Siegel says there are some positive signals in stocks and corporate earnings, but it's too soon to say the market has hit bottom. Siegel also talked about inflation and commodities.

Will its 'Chrome' Web Browser Put a Shine on Google's Long-term Strategy?

Wed, 3 Sep 2008 10:00:00 GMT

Casual observers may have concluded that Google's introduction this week of its Chrome web browser was a direct assault on the dominance of Microsoft's Explorer. But Wharton professors David Hsu and Kevin Werbach see a longer-term strategy at work. They say Google wants the new browser to influence the development of web technology that will help draw consumers to its various web applications, making Google overall more attractive to advertisers.

Emerging Technologies, Part 3: New Tools for a Collaborative Environment

Fri, 29 Aug 2008 10:00:00 GMT

Part 3 of 3 -- Dr. Guido Jouret, chief technology officer of Cisco's Emerging Technologies Group, spoke with Wharton management professor Saikat Chaudhuri about about emerging enterprise equivalents of web 2.0 technologies.

Emerging Technologies, Part 2: Communicating Across Boundries

Fri, 22 Aug 2008 10:00:00 GMT

Part 2 of 3 -- Dr. Guido Jouret, chief technology officer of Cisco's Emerging Technologies Group, spoke with Wharton management professor Saikat Chaudhuri about how TelePresence evolved from a need for high-resolution interaction in today's distributed workplace.

Emerging Technologies, Part 1: Incubating the Future

Fri, 15 Aug 2008 10:00:00 GMT

Part 1 of 3 -- Dr. Guido Jouret, chief technology officer of Cisco's Emerging Technologies Group, spoke with Wharton management professor Saikat Chaudhuri about internal venturing at Cisco, and how his group balances entrepreneurial innovation with corporate processes and controls.

Doha Debacle: What's Next for Global Commerce

Thu, 7 Aug 2008 10:00:00 GMT

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.

BCG-K@W Procurement Report: Part 8: Peformance-based Logistics

Mon, 14 Jul 2008 10:00:00 GMT

These days, when the U.S. Department of Defense buys a fighter jet from Lockheed Martin, it doesn't simply pay Lockheed for the physical product. Instead, the government has a "performance-based contract" with the defense supplier, according to Serguei Netessine, professor of operations and information management at Wharton. This contract says, in effect, that the government's reimbursement to Lockheed hinges on the jets' performance -- that is, how often the planes are able to fly. In this interview, Netessine describes how performance-based contracts are becoming more common in a variety of industries. This is Part 8 of an 8 part series.

Jeremy Siegel on the Bear Market, Sky-high Oil Prices and other Bad News

Wed, 9 Jul 2008 10:00:00 GMT

The stock market's June swoon has carried into July, with key indicators pointing to a bear market weighed down by rising oil prices, the credit crisis and more bad news from Detroit, as the Big Three auto manufacturers reported substantial losses. Meanwhile, the G-8 gathered in Japan to discuss global warming and the economy, but didn't include the two largest emerging economies -- China and India -- in the talks. Knowledge@Wharton spoke to Wharton finance professor Jeremy Siegel about these developments and others.

BCG-K@W Procurement Report: Part 7 -- Managing Commodity Risk

Mon, 7 Jul 2008 10:00:00 GMT

Managing commodity risk has emerged as a key issue in today's economy. Consider airlines, which have seen fuel costs rise seven-fold over the last few years, says Bob Tevelson, a partner and managing director at BCG. In this interview, Tevelson says commodity risks are associated with both price volatility and supply availability. More and more companies may wish to turn to hedging strategies to manage commodity risk, he notes, but such strategies can pose risks themselves unless they are properly implemented. This is Part 7 of an 8 part series.

BCG-K@W Procurement Report: Part 6 -- Subcontracting and Product Quality in China

Mon, 30 Jun 2008 10:00:00 GMT

Marshall W. Meyer, professor of management at Wharton, has made many trips to China to research the rapid growth of its economy and the successes and difficulties it has had in growing so quickly. In this interview, Meyer discusses the recent controversy surrounding China's exports of substandard toys and pharmaceuticals to the United States, and the implications for supply-chain management. This is Part 6 of an 8 part series.

BCG-K@W Procurement Report: Part 5 -- China Sourcing

Mon, 23 Jun 2008 10:00:00 GMT

Multinational corporations have been sourcing from China for years, but that doesn't mean that all the questions have been answered about how to engage in procurement activities in the world's fastest-growing economy. In this interview, David Lee, a partner and managing director at BCG, says that plenty of challenges remain. Among them: finding good suppliers that offer products at relatively low costs, and being willing and able to outsource a sufficient volume of one's business to Chinese suppliers. This is Part 5 of an 8 part series.

Jeremy Siegel on Ignoring Risks -- Subprime Special Report

Fri, 20 Jun 2008 10:00:00 GMT

The subprime crisis "was a wreck that could have been predicted," Wharton finance professor Jeremy Siegel says in this interview. Siegel is one of seven Wharton professors interviewed by Knowledge@Wharton for a special report on the subprime credit crisis. Please visit knoweldge.wharton.upenn.edu for the entire report.

BCG-K@W Procurement Report: Part 4 -- Building Customer-Supplier Relationships

Mon, 16 Jun 2008 10:00:00 GMT

In the never-ending quest for cost savings, many companies have reduced the number of suppliers they use, consolidated their purchases, and negotiated better prices. So, where can chief procurement officers and other managers now turn for savings? In this interview, Bob Tevelson, a BCG partner and managing director, says firms must segment suppliers to identify those that can deliver what he calls "partnership value" by establishing relationships that move beyond the transactional level. This is Part 4 of an 8 part series.

Microsoft-K@W Open Source Evolution - Part 4

Sun, 15 Jun 2008 10:00:00 GMT

Tom Hanrahan, Director of Linux Interoperability at Microsoft, speaks with Wharton Legal Studies and Business Ethics Professor Kevin Werbach about the value of open source development in today's marketplace.

Microsoft-K@W Open Source Evolution - Part 3

Sat, 14 Jun 2008 10:00:00 GMT

Microsoft-K@W Open Source Evolution - Part 2

Fri, 13 Jun 2008 10:00:00 GMT

Microsoft-K@W Open Source Evolution - Part 1

Thu, 12 Jun 2008 10:00:00 GMT

Google's Joe Kraus on How to Make the Web More Social

Wed, 11 Jun 2008 10:00:00 GMT

Joe Kraus, director of product management at Google, believes every killer app on the web -- instant messaging, e-mail, blogging, photo-sharing -- has succeeded because it helps people connect with one another. For Kraus, this means the Internet has an inherently social character, but it can be enhanced further. Wharton legal studies professor Kevin Werbach spoke with Kraus recently about the socialization of the Internet. Kraus will speak about social computing at the Supernova conference in San Francisco on June 16.

BCG-K@W Procurement Report: Part 3 -- Global Supply Chain Strategy

Mon, 9 Jun 2008 10:00:00 GMT

Marshall L. Fisher, director of Wharton's Fishman-Davidson Center for Service and Operations Management, has been researching issues related to retail supply chain strategy for many years. In this interview, Fisher highlights some of the challenges facing global procurement, and he discusses the example of Luen Thai, a Chinese company that built a giant "supply-chain city," becoming a one-stop shop for clothing manufacturers looking to outsource to low-cost producers. This is Part 3 of an 8 part series.

Cisco-K@W on Enterprise Security Threats and Trends: Part 2

Thu, 05 Jun 2008 10:00:00 GMT

Cisco Chief Security Officer John N. Stewart and Wharton's Andrea Matwyshyn discuss the enterprise security impact of emerging Web 2.0 technologies and collaboration tools. This is the second of a two part series on Enterprise Security.

BCG-K@W Procurement Report: Part 2 -- Procurement Organizations

Mon, 2 Jun 2008 10:00:00 GMT

Procurement has become an integral part of corporate performance and is drawing increased attention from senior management. In this interview, Andreas Gocke, a BCG partner and managing director, spoke with Knowledge@Wharton about the most critical challenges facing procurement organizations over the next five to 10 years, including training and employee development, managing global sourcing offices and ensuring collaboration across corporate departments. This is Part 2 of an 8 part series.

What's Behind the Flare-ups in Oil Prices? Jeremy Siegel and Witold Henisz Weigh In

Wed, 28 May 2008 10:00:00 GMT

Memorial Day, which marks the beginning of the summer driving season in the U.S., saw gas prices at nearly $4 a gallon all over the country -- and even higher in states such as Florida. Globally, the picture looks more worrisome: Oil prices crossed a record $135 a barrel during the weekend of May 24-25, although by Tuesday prices had come down to $131. What's behind these regular flare-ups in oil prices? What are the major economic and geopolitical factors at work? How does expensive oil affect the U.S. and world markets, and what can we expect over the coming months? Knowledge@Wharton discussed these questions and more with finance professor Jeremy Siegel, author of The Future for Investors, and management professor Witold Henisz.

BCG-K@W Procurement Report: Part 1 -- the Strategic Perspective

Mon, 26 May 2008 10:00:00 GMT

The Boston Consulting Group's Hal Sirkin discusses procurement in the context of global business, and the ways that companies from emerging economies are challenging traditional multinationals. This is Part 1 of an 8 part series.

Cisco-K@W on Enterprise Security Threats and Trends: Part 1

Mon, 19 May 2008 10:00:00 GMT

Cisco Chief Security Officer John N. Stewart and Wharton's Andrea Matwyshyn discuss the current network security environment. This is the first of a two part series on Enterprise Security.

LG India's Y.V. Verma: A Global Strategy That Keeps Local People at the Top

Wed, 14 May 2008 10:00:00 GMT

Korea-based LG Electronics is recognized today as a market leader in India, but getting there has required a "will to succeed," according to Yasho V. Verma, who has been director of human resources and management support for the company's India division since 1997. In addition to the usual bumps that multinationals can expect when entering a new market, Verma describes the company's brushes with local "mafia" and other challenges in his book, Passion: The Untold Story of LG Electronics India. In a country known for its talent shortage, LG India's employee attrition rate has dropped from 19% to 6% in the past two years alone. At the recent Wharton India Economic Forum, Verma spoke with Knowledge@Wharton about how LG has used non-traditional methods for recruiting and retaining talent and empowering employees "at the lowest levels."

Jeremy Siegel on the Fed's Latest Cut, $4 Gasoline and the Best Strategy for Investors

Wed, 30 Apr 2008 10:00:00 GMT

The economy seems to be sinking toward recession, with new home sales at their lowest since the early 1990s. At the same time, inflation is picking up. Some Americans are paying $4 for a gallon of gas and coming home from the supermarket with sticker shock. Today, the Fed deemed recession the bigger worry and cut short-term interest rates by a quarter of a percentage point, from 2.25% to 2%. Was this the right choice? How will it affect the financial markets? Should investors bet on a stock market rebound or hide on the sidelines? Knowledge@Wharton put these questions to Wharton finance professor Jeremy Siegel, author of The Future for Investors.

Mergers in the Air? Microsoft/Yahoo and Delta/Northwest

Fri, 18 Apr 2008 10:00:00 GMT

The ongoing takeover battle between Microsoft and Yahoo has taken several surprising turns over the past few weeks. After rejecting Microsoft's unsolicited $44.6 billion offer in late February, Yahoo has announced a two-week ad testing program with its main search rival, Google, and has reportedly entertained a possible merger with Time Warner's AOL. Meanwhile, Microsoft was rumored to be considering News Corp. as a possible ally in acquiring Yahoo. While spectators wait for the next twist in this saga, another headline-making deal has been announced: a merger between Delta and Northwest Airlines to become the world's largest airline. Knowledge@Wharton spoke with Wharton management professor Saikat Chaudhuri and Wharton legal studies and business ethics professor Kevin Werbach to find out whether these deals make sense and for whom.

The Talent Hunt: Getting the People You Need, When You Need Them

Wed, 16 Apr 2008 10:00:00 GMT

Ask any CEO or senior level executive what his or her biggest challenge is, and the answer is almost always finding and keeping good people. Yet most executives fail to manage their company's needs in a way that recognizes the unpredictability of the global marketplace. In a book titled, Talent on Demand: Managing Talent in an Age of Uncertainty, Peter Cappelli, director of Wharton's Center for Human Resources, proposes a new approach to this issue based on applying the principles of supply chain management to people. He and Joyce Bradley, senior vice president and general manager, Delaware Valley region, of Lee Hecht Harrison, spoke with Knowledge@Wharton about talent management, including the challenges of managing employees in a recessionary economy.

Saatchi & Saatchi's Kevin Roberts: 'It's All about Getting to the Future First'

Wed, 2 Apr 2008 10:00:00 GMT

Kevin Roberts has been CEO Worldwide of Saatchi & Saatchi since 1997, and in the space of 11 years has cemented the ad agency's reputation as one of the most successful and creative companies in the industry. Roberts is perhaps most well known for an idea he came up with called "lovemarks" -- which means creating a brand for which the consumer has "loyalty beyond reason." During a visit to campus last week, he talked with Knowledge@Wharton about lovemarks and other initiatives. In addition, as part of the Wharton Leadership Lecture series, he spoke about the skills needed to be a successful marketer, what consumers really want, his personal management style and the need to have a dream.

Jeremy Siegel on Bear Stearns, Rate Cuts and the Looming Threat of Inflation

Wed, 19 Mar 2008 10:00:00 GMT

The ongoing credit crisis in U.S. financial markets has claimed a huge and high-profile victim: Bear Stearns. After being slammed by what amounted to a run on the bank during the week of March 10, the Wall Street investment bank and securities brokerage firm agreed to be acquired -- for $2 a share -- by JP Morgan Chase over the weekend in a deal overseen by Federal Reserve chairman Ben Bernanke and Treasury Secretary Henry Paulson. The Federal Reserve lowered interest rates the same day -- and did so again on March 18, by three-quarters of a percentage point. Are other Wall Street firms likely to follow Bear Stearns into oblivion? Will the Federal Reserve's efforts help to boost confidence in the financial system? Finance professor Jeremy Siegel, author of The Future for Investors, discussed these questions and more with Knowledge@Wharton.

Physician and Administrator: How Surgeon Larry Kaiser Navigates Two Different Worlds

Thu, 13 Mar 2008 10:00:00 GMT

Larry Kaiser, chairman of the department of surgery and surgeon-in-chief for the University of Pennsylvania Health System, is responsible for more than 110 surgeons in his own department, and he leads one of the largest thoracic services in the country. Michael Useem, director of Wharton's Center for Leadership and Change Management, recently spoke with Kaiser about the challenges of playing a leadership role -- not just in a major medical center, but also in a health care environment that has experienced radical changes over the last decade.

Jeremy Siegel on Politicians, Prices and a Potential 'Buying Opportunity of the Decade'

Wed, 5 Mar 2008 10:00:00 GMT

The U.S. Presidential race has reached a critical juncture. The Republicans have a confirmed nominee in John McCain; as for the Democrats, Hillary Clinton has bounced back, while Barack Obama retains a marginal lead in terms of delegates. How the presidential race evolves will be shaped in part by the increasingly worrisome state of the U.S. economy. Though it has not yet gone through two consecutive quarters of negative growth -- the common definition of a recession -- signs of a slowdown are evident everywhere. What lies ahead for the U.S. and world economies? What is the right strategy for investors in this environment? Knowledge@Wharton discussed these questions and more with finance professor Jeremy Siegel, author of The Future for Investors.

Philips Lighting CEO Rudy Provoost: Innovation Means Putting Consumers' Needs First

Wed, 20 Feb 2008 10:00:00 GMT

Approximately 19% of the world's electricity bill comes from lighting, according to Rudy Provoost, CEO of Philips Lighting. As such, Philips, the world's largest producer of industrial and consumer lighting products, has a big role to play in the ongoing transformation from incandescent to solid-state lighting using LED technology. Provoost, who until last year was CEO of Philips Consumer Electronics, is no stranger to new technologies, which he says are "just a vehicle to respond to needs." Figuring out what those needs are, weeding out needless complexity and innovating with an eye on the bottom line are the keys to growth, Provoost says. He recently spoke with Wharton marketing professor George Day and Knowledge@Wharton about the challenges of staying ahead in a rapidly changing industry.

Taking Work-based Learning to the Next Level

Mon, 18 Feb 2008 10:00:00 GMT

In the mid-1990s, a new C-suite title was born when General Electric CEO Jack Welch dubbed Steve Kerr the company's "chief learning officer." Since then, CLOs have sprouted up at major firms in several industries. But what does this new breed of "learning leaders" bring to the table that traditional human resources departments and employee training programs do not? How does an increased emphasis on learning improve an organization? And do new technologies, like distance learning, simulations and online portals, enhance or impede work-based education? To answer these questions, Knowledge@Wharton spoke with Ed Betof, former vice president of talent management and CLO at Becton, Dickinson and Company, who is a senior fellow and academic director of Wharton Executive Education's Executive Program in Work-Based Learning Leadership; Mike Barger, vice president and CLO at JetBlue University; and Ann Schulte, vice president of global learning at MasterCard Worldwide.

The Liberian Widows Initiative: A Helping Hand that Stretches from the U.S. to Africa

Tue, 12 Feb 2008 10:00:00 GMT

Kristin King and Kate Brubacher are founding members of Liberian Widows Initiative (LWI), an organization to aid women devastated by the Liberian Civil War. LWI provides small business loans and savings accounts to members of the extreme poor -- Liberian refugee women who struggle to feed their families and send their children to school. LWI was an outgrowth of Brubacher's residence in West Africa during 2004-2005. Brubacher is now at Yale Law School and King is a second year MBA student at Wharton. King and Wharton management professor Keith Weigelt talked to Knowledge@Wharton about the challenges of running a grass-roots microfinance initiative several thousand miles away.

Bridging Your Goals with Their Goals: A 'Context-driven Approach to Leadership'

Thu, 7 Feb 2008 10:00:00 GMT

While changing jobs and shifting careers is hardly unusual in today's business world, Russ Palmer is somewhat unique in that he has been the leader of three very different organizations over the past several decades. He was CEO of Touche Ross (now Deloitte & Touche) for 10 years, dean of Wharton for seven years, and now owner, chairman and CEO of The Palmer Group, a corporate investment firm. Each of these positions required very different skills and the ability to adapt to a unique set of challenges -- what Palmer calls "a context-driven approach to leadership." In his new book, Ultimate Leadership: Winning Execution Strategies for Your Situation, Palmer describes how today's leaders can adapt to, and succeed in, any business environment.

Microsoft and Yahoo: Does It Make Sense (and Will It Work)?

Wed, 6 Feb 2008 10:00:00 GMT

On Friday, February 1, Microsoft announced it was making an unsolicited bid to acquire Yahoo for $44.6 billion in cash and stock, a 62% premium over Yahoo's stock price at the time. Yahoo is officially "evaluating" the offer and, according to reports, is talking to other companies as possible suitors. Meanwhile, Google seems determined to derail the deal, stating that it finds the proposed acquisition "troubling" and offering to help Yahoo come up with other options. Does the deal make sense, and if it goes through, how difficult will it be to meld these two giant technology companies into one? Knowledge@Wharton spoke with Wharton management professors Larry Hrebiniak and David Hsu to get their views on Microsoft's offer.

The Global Auto Industry: New Cars, Old Problems

Wed, 30 Jan 2008 10:00:00 GMT

The rise in delinquencies on auto loans is one sign that America's auto industry is in trouble -- along with the rest of the economy. How hard are the auto makers being hit and what should the Big Three do to stem the damage? Meanwhile, the global auto industry has seen some interesting developments, including the introduction in India of Tata Motors' Nano and the arrival of five Chinese auto manufacturers at the Detroit auto show earlier this month. Will China and India be big players in the global market for cars? What is the current state of Europe's auto industry? Knowledge@Wharton asked Wharton management professors John Paul MacDuffie and Mauro Guillen to steer us through the turmoil.

It Is a Bird...a Plane...a Recession, Or Is It?

Wed, 23 Jan 2008 10:00:00 GMT

It's been quite a week. Stock markets around the world showed sharp declines on Monday; on Tuesday, the Federal Reserve cut its benchmark interest rate by three-quarters of a percentage point. The rate cut helped stem the losses on some indexes, but by January 23, the volatility had returned. The obvious fear is one of recession -- a possibility that the White House and Congress are trying to avert by coming up with a stimulus package that will keep the economy off life support. How effective will the Fed's interest rate cut be, and what is the outlook for the Asian and European economies? Knowledge@Wharton asked finance professors Jeremy Siegel and Franklin Allen to comment on these issues.

How Arab Countries Are Coping with Globalization

Wed, 9 Jan 2008 10:00:00 GMT

At the beginning of 2008, crude prices are at record highs, creating immense wealth for oil-exporting nations in the Middle East. Yet the Arab economies also face what economists call "a demographic bulge of a fast-growing labor force" -- and the challenge of creating enough jobs for the population. This is happening at a time when the arrival of China and India is raising the competitive stakes for other emerging economies that want to make their mark on the global economic stage. How are the Arab economies dealing with these challenges? Howard Pack, a professor of business and public policy at Wharton, and Marcus Noland, a senior fellow at the Peterson Institute for International Economics, address these issues in a book titled, The Arab Economies in a Changing World. Knowledge@Wharton recently spoke with Pack about his book.