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What's Ahead For 2007? Knowledge@Wharton Network Surveys The Globe, Knowledge@Smu
What's Ahead For 2007? Knowledge@Wharton Network Surveys The Globe, Knowledge@Smu
Knowledge@SMU
On the financial front, 2006 has been a pretty good year all around. Stock markets in many countries have rallied, energy prices have fallen, inflation is relatively low and growth in GDP ranges from respectable to robust. But the economies of most countries also face a number of threats -- some predictable, some not -- that could derail recent gains in our increasingly connected global markets. What's ahead for 2007 in the U.S., India, Europe, Latin America, China and other parts of the world? We offer a roundup of reports from the Knowledge@Wharton Network, including India Knowledge@Wharton, Universia Knowledge@Wharton and …
How And Why Chinese Firms Excel In 'The Art Of Price War', Knowledge@Smu
How And Why Chinese Firms Excel In 'The Art Of Price War', Knowledge@Smu
Knowledge@SMU
When it comes to price wars, Wharton marketing professor Z. John Zhang can't help but notice that companies in the West and companies in China are quite literally worlds apart. In the West, Zhang says, the outbreak of a price war is viewed as the failure of managerial rationality. In China, the outbreak of a price war is considered a legitimate and effective business strategy. In a recent paper, Zhang and Dongsheng Zhou, a marketing professor at the China Europe International Business School in Shanghai, analyze two price wars that took place in China in the mid-1990s.
More Than Job Demands Or Personality, Lack Of Organizational Respect Fuels Employee Burnout, Knowledge@Smu
More Than Job Demands Or Personality, Lack Of Organizational Respect Fuels Employee Burnout, Knowledge@Smu
Knowledge@SMU
One of the biggest complaints employees have, according to Wharton management professor Sigal Barsade, is that "they are not sufficiently recognized by their organizations for the work they do .... When employees don't feel that the organization respects and values them, they tend to experience higher levels of burnout." Barsade and doctoral student Lakshmi Ramarajan look at the role of respect in a paper titled, "What Makes the Job Tough? The Influence of Organizational Respect on Burnout in Human Services."
Insurance: Indian And Foreign Firms Test Positive For Growth Steroid, Knowledge@Smu
Insurance: Indian And Foreign Firms Test Positive For Growth Steroid, Knowledge@Smu
Knowledge@SMU
The new crop of private and foreign players in India's de-nationalized insurance industry is achieving growth rates in market shares that are bigger than its ambitious estimates. Insurance penetration -- both life and non-life -- has taken off vertically with a proliferation of products, and the former state-owned monopolies are pulling out the best in their armory. India Knowledge@Wharton spoke to some of the key players, industry regulators and consulting houses to capture a ringside view of one of the biggest slugfests these days in the emerging economies.
Mckinsey's Ian Davis: Maximizing Shareholder Value Doesn't Cut It Anymore, Knowledge@Smu
Mckinsey's Ian Davis: Maximizing Shareholder Value Doesn't Cut It Anymore, Knowledge@Smu
Knowledge@SMU
Shareholder value is growing increasingly irrelevant as government and society take a larger role in shaping business and industry, according to Ian Davis, managing director of McKinsey, the global management-consulting firm. In a Wharton Leadership Lecture, Davis said new societal pressures, such as regulation and environmental sustainability, are now joining the list of long-standing issues -- including growth, globalization and technology -- that demand the attention of today's CEOs.
Going Up: Real Estate Is On The Rise Again In Japan, Knowledge@Smu
Going Up: Real Estate Is On The Rise Again In Japan, Knowledge@Smu
Knowledge@SMU
Nothing symbolizes Japan's bubble economy, or its subsequent long slump, more than real estate. Now, after dropping by as much as 70%, real estate prices are ticking up, signaling a renewed Japanese economy. A major restructuring of the nation's financial system, along with an injection of foreign capital and the introduction of publicly traded real estate investment trusts, are driving the real estate revival, according to Wharton faculty and real estate analysts working in Tokyo.
Unilever's Michael Polk: It's All About 'Dislocating Ideas', Knowledge@Smu
Unilever's Michael Polk: It's All About 'Dislocating Ideas', Knowledge@Smu
Knowledge@SMU
To drive home the subject of his speech at the recent third annual Wharton Marketing conference, Michael Polk, president of Unilever United States, flashed up a definition straight from the dictionary: 'Innovation: a new idea or method; a change in something established.' Polk, who manages such brands as Dove, Axe, Slim-Fast, Country Crock, Wishbone and Q-Tips, said innovation, not invention, lies at the heart of successful marketing campaigns.
Making The Global Grade: Chinese Managers Are The Latest Enrollees In Western Executive Education Classes, Knowledge@Smu
Making The Global Grade: Chinese Managers Are The Latest Enrollees In Western Executive Education Classes, Knowledge@Smu
Knowledge@SMU
As Chinese firms increasingly turn their attention to strengthening their ability to compete in the global economy, they have a new challenge -- developing international expertise. One way they are doing this is by turning to Western executive education programs, which can include everything from courses in finance, marketing and corporate governance to a visit to Bloomingdale's and meals at noted Western restaurants.
Global Hotspots In The Real Estate Business, Knowledge@Smu
Global Hotspots In The Real Estate Business, Knowledge@Smu
Knowledge@SMU
Emerging real estate markets in India and China, along with recovering property industries in Germany and Japan, are among the top destinations for global real estate investors, according to panelists at the Samuel Zell and Robert Lurie Real Estate Center's fall meeting. During a session titled, "Global Hot Spots -- How to Think about Hot Foreign Markets," Wharton real estate professor Peter Linneman called on each panelist to describe the markets they find most intriguing.
Netcore Ceo Rajesh Jain: 'In India, The Future Of The Internet Will Be Built Around The Mobile Phone', Knowledge@Smu
Netcore Ceo Rajesh Jain: 'In India, The Future Of The Internet Will Be Built Around The Mobile Phone', Knowledge@Smu
Knowledge@SMU
Seven years ago, Rajesh Jain ignited a dot-com storm in India when his portal, IndiaWorld, was sold to Sify, an Internet service provider, for $115 million. Today, he is CEO of Netcore, a Linux-based messaging software firm, and also maintains an active blog, emergic.org. Jain met with Knowledge@Wharton at his offices in Mumbai to discuss how mobile phones could hold the key to the Internet's evolution in India and other emerging economies.
How Can Employers Improve Defined Contribution Plans?, Knowledge@Smu
How Can Employers Improve Defined Contribution Plans?, Knowledge@Smu
Knowledge@SMU
If 401(k)s and similar plans are the main way Americans invest for retirement, how can employers improve them? By making enrollment automatic, minimizing the use of the employer's stock, expanding the role of annuities and improving employees' financial knowledge, according to a set of recommendations issued by the Financial Economists Roundtable, a group of about 50 prominent economists, including several Wharton faculty members.
Why The Fight Against Poverty Is Failing: A Contrarian View, Knowledge@Smu
Why The Fight Against Poverty Is Failing: A Contrarian View, Knowledge@Smu
Knowledge@SMU
Abraham George is the founder of The George Foundation, an NGO engaged in humanitarian work in India, and the author of India Untouched: The Forgotten Face of Rural Poverty. In this contrarian essay, he explores why the current strategies that governments and development agencies are employing to reduce poverty are not working the way they should. Among his arguments: Microcredit programs, as they are now practiced in India, do little to help the poor.
Novartis's Alex Gorsky: Ensuring That Patients Get Access To The Medicines They Need, Knowledge@Smu
Novartis's Alex Gorsky: Ensuring That Patients Get Access To The Medicines They Need, Knowledge@Smu
Knowledge@SMU
Alex Gorsky was named head of Pharma North America and CEO of Novartis Pharmaceuticals Corp., the U.S. affiliate of Swiss drug giant Novartis, in the fall of 2005. Since joining the company in 2004 as chief operating officer and head of general medicines, Gorsky has overseen the continued growth of Novartis's industry-leading cardiovascular franchise, notably the blockbuster drugs Diovan and Lotrel. The company sells a variety of products, including those that treat endocrine and respiratory disease, gastrointestinal illnesses, cancer and blood disorders and bone and joint conditions, among others. Prior to joining Novartis, Gorsky was company group chairman for Johnson …
The Billion-Dollar Body Parts Industry: Medical Research Alongside Greed And Corruption, Knowledge@Smu
The Billion-Dollar Body Parts Industry: Medical Research Alongside Greed And Corruption, Knowledge@Smu
Knowledge@SMU
Body parts are big business in the United States. Tissue, organs, tendons, bones, joints, limbs, hands, feet, torsos, and heads culled from the dead are the cornerstones of the lucrative and important business of advancing scientific knowledge and improving medical technique. Few people, however, think to ask where the material that sustains this enormous industry comes from. Journalist Annie Cheney is a timely exception. In Body Brokers: Inside America's Underground Trade in Human Remains (Broadway), Cheney chronicles her quest to find out how human remains are procured, processed, marketed, and used. It's a complicated, detailed and disturbing tale.
Can't Afford To See A Doctor? The Difficulties Of Reforming China's Healthcare System, Knowledge@Smu
Can't Afford To See A Doctor? The Difficulties Of Reforming China's Healthcare System, Knowledge@Smu
Knowledge@SMU
An article co-published on May 22 by China Social Science Literature Publishing house and China Medical Industry Magazine, entitled “Healthcare Greenpaper,” reviews a series of problems associated with China’s healthcare reform over the past 10 years. Of the five biggest problems identified by the paper, the worst one is prohibitively expensive treatment. To examine this issue, Knowledge@Wharton interviewed a variety of experts and officials on the state of health care in China and the changing relationships between hospitals and patients.
Industry Leaders Debate Big Pharma R&D (Too Little Hope?) And Stem Cell Research (Too Much Hype?), Knowledge@Smu
Industry Leaders Debate Big Pharma R&D (Too Little Hope?) And Stem Cell Research (Too Much Hype?), Knowledge@Smu
Knowledge@SMU
Different points on the research spectrum were under the microscope at the Wharton Health Care Business Conference last month as two panels of biotech, pharmaceutical and investment leaders discussed the state of R&D among big pharmaceuticals and the progress of stem cell research. While disappointing results in both sectors have dominated the news lately, panelists at each session also noted some promising developments -- and causes for optimism -- in their respective fields.