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  • Do MOOCs Cannibalize Traditional Business School Enrollment?

    Do free, massive open online courses (MOOCs) cannibalize enrollment at traditional business schools? In the video above, Knowledge@Wharton interviews Wharton professor Ezekiel J. Emanuel, co-author of a study asking that question. Emanuel notes that “it doesn’t seem that MOOCs are undermining traditional business schools, but may be complementing them, enriching them and providing a great opportunity to [engage] other diverse student bodies.” Have you enrolled in a MOOC? If so, did you complete it? If not, why not? What did you get out of the class? Do you agree with Professor Emanuel that college and university administrators should not be concerned about MOOCs? Explain.
  • José Andrés, Commencement Speaker

    In the above video, President of Think Food Group , celebrity chef, José Andrés offers life lessons to the 2014 graduating class of George Washington University (GWU). He teaches a course at GWU called "The World on a Plate: How Food Shapes Civilizations" and contributes to a course called "Science and Cooking" at the Harvard School of Engineering and Applied Sciences. Time magazine named Andrés one of the 100 most influential people in the world, and he was the James Beard Foundation’s 2011 Outstanding Chef. What do you think about the celebrities appearing in his video? What do you think about José Andrés referring to himself as a "cook" who got a shot at the American dream? What does he mean by “Don’t use a recipe…if things don’t go as expected, make the unexpected work in your favor. Change the name of the dish.”
  • Managers Should Give Sincere Apologies

    Why does a customer or an employee sue the company and manager? Research tells us that companies and managers are sued because of the way the person was treated. Many managers offer an apology, but it doesn't seem sincere. Furthermore, they don't take responsibility for the mistake. When we think of being sued, the health cared industry comes to mind. In the video below, error expert Lucian Leape says there are four stages of an effective apology: Admit, Explain, Apologize, and Take Responsibility. An example of an effective apology is the letter below from Karen Katz, CEO of Neiman Marcus. The company suffered a data breach over the holidays, exposing customer credit card data to potential theft. To our loyal Neiman Marcus Group customers: As the investigation into our cyber security incident continues, I want to provide you with an update. Your trust in us is our absolute priority. As always, we want you to feel confident shopping at Neiman Marcus. What I said in my prior message to you remains the same: there is NO indication • that Social Security numbers and birth dates were compromised • that our Neiman Marcus cards have been used fraudulently • that any online customers were impacted • that any PINs were at risk since we do not use PIN pads in our stores We do know, and our forensic reports have confirmed, that malicious software (malware) was clandestinely installed on our system and that it attempted to collect or "scrape" payment card data from July 16, 2013 to October 30, 2013. I reported last time that approximately 1,100,000 customer payment cards could have been potentially visible to the malware. Our investigation has now determined that the number of potentially affected payments cards is lower—approximately 350,000. The number has decreased because the investigation has established that the malware was not operating at all our stores, nor was it operating every day in those affected stores, during the July 16 -October 30 period. Of the 350,000 payment cards that may have been affected by the malware in our system, Visa, MasterCard and Discover have notified us to date that approximately 9,200 of those were subsequently used fraudulently elsewhere. Regardless of whether or not your card was affected, we have notified customers for whom we have mailing and/or e-mail addresses who shopped with us either in-store or online in 2013. Additionally, we are offering one free year of credit monitoring and identity-theft protection. Sign up instructions for this service can be found below in the Question and Answer section. For over a century, our company's mission has been dedicated to delivering exceptional service to each of our customers, and responding properly to this attack is our top priority. Our goal is to do everything possible to restore your trust and to earn your loyalty. --- How does CEO Katz's apology follow Dr. Leape's four stages of an effective apology? How does saying your sorry differ from taking responsibility? Think of a situation where a manager should apologize to a customer or an employee. Use the four stages of an effective apology to write an apology to this customer or employee.
  • The Value of Bosses

    See the full Infographic, "Real Cost Bad Bosses." at http://www.inc.com/maeghan-ouimet/real-cost-bad-bosses.html In The Value of Bosses (NBER Working Paper No. 18317 ), authors Edward Lazear , Kathryn Shaw , and Christopher Stanton use data from a large service oriented company to examine the effects of bosses on their workers' productivity. They estimate the daily productivity for 23,878 workers matched to 1,940 bosses over five years and find that bosses vary greatly in productivity, with the difference between the best bosses and the worst bosses being significant. The authors report that three findings stand out. The choice of boss matters. Replacing a bad boss with a good boss increases a team's productivity. The boss's primary activity is teaching skills that persist. Good bosses increase the productivity of high quality workers by more than that of low quality workers. Co-author of the working paper, Kathryn Shaw says, "Good bosses are teachers. In fact, their teaching accounts for 67% of a boss's effect on employees' productivity." Do you think of managers as teachers? Explain. How do managers teach employees?
  • Happy Mother's Day!

    Mother's Day is this weekend. It's a holiday, invented by companies to sell cards and gifts, such as chocolate and flowers. In the video below, Sarah Kay, speaks poetry, "If I should have a daughter, instead of Mom, she's gonna call me Point B ... " This talk inspired two standing ovations at TED2011. (She tells the story of her metamorphosis -- from a wide-eyed teenager soaking in verse at New York's Bowery Poetry Club to a teacher connecting kids with the power of self-expression through Project V.O.I.C.E. -- and gives two breathtaking performances of "B" and "Hiroshima.") Amazon says , “B” is a thank you note, a love letter, a wish, a promise, a confession, and a secret. Many businesses offer deals for mom on or around Mother's Day. Check these businesses: Boston Market, California Pizza Kitchen, Spaghetti Wearhouse, Texas Roadhouse, National Public Gardens, museums, Redbox, and Snapfish. What does Mother's Day mean to businesses? Have you wished your mom "Happy Mother's Day"?
  • The Best Management Jobs of 2014

    The 100 best jobs of 2014 , according to U.S. News & World Report, are focused primarily in three industries: computer technology, health care, and engineering. Of those, the best management jobs are listed below. IT Manager Construction Manager Business Operations Manager Marketing Manager Financial Manager Sales Manager Which management job interests you? Why? What are the requirements for the job? What will you need to change to get the job?
  • CEOs Overcome Obstacles to Success

    Most of us think that top managers or CEOs come from privileged backgrounds. That may be true for some CEOs, but some have overcome obstacles, such as dyslexia, lack of college degree, and working for only one company. Docstoc reports , "For example, studies show that CEOs suffer from dyslexia at a much higher rate than the rest of the general population. A survey conducted by the Cass Business School in London found that 35% of U.S. CEOs say they show signs of dyslexia. In comparison, only about 1% of managers and 10% of the general population are dyslexics. Famous business dyslexics include Apple ’s Steve Jobs , Cisco ’s John Chambers and Virgin Group ’s Richard Branson ." Furthermore, we've all hear about Bill Gates of Microsoft , Michael Dell of Dell , and Mark Zuckerberg of Facebook starting their companies in their dorm rooms and not completing their college degrees. In addition, we think that most successful CEOs have to move from company to company to make it to the top. But, Docstoc reports , " a recent CEO.com study found that 32% of Fortune 500 and 21% of S&P 500 CEOs rose to the top within a single company, proving that both perseverance and loyalty actually do pay off in business." Basically, these stories show us that the road to CEO is different for different people. But, why do you think that most CEOs get a college degree and have work experience from several companies?
  • Lufthansa CEO Dr. Christoph Franz Apologizes for Strike

    Lufthansa CEO Christoph Franz offered an apology to customers affected by a strike called by the airline's pilots. “You’re Lufthansa customers – you rely on the excellent, safe, customer-oriented service of Lufthansa every day, 365 days a year. The next three days unfortunately, Lufthansa will not be able to provide you the service you are used to because our pilots will be on strike,” said Mr. Franz. Chase Gummer of The Wall Street Journal reported, “This is the first time that the CEO of a big German corporate has gone before the cameras himself,” said social media consultant Thomas Knüwer. “It’s certainly a sign that German industry is beginning to understand the Internet.” If you were a frustrated customer of Lufthansa, would the video help Lufthansa's relationship with you? If you were a manager, would you post an apology to customers? Is this the right way to communicate with customers? Explain.
  • Job Automation May Threaten Half of U.S. Workforce

    Bloomberg reports that mobile robots and ‘smart’ computers – that learn on the job – make it likely the occupations employing about half of today’s U.S. workers could be possible to automate in the next decade or two. (Research is from an Oxford University study that estimated the probability of computerization of more than 700 occupations.) Occupations Ranked According to their Probability of Automation 98% - Loan Officers 96% - Receptionists and Information Clerks 94% - Paralegals and Legal Assistants 92% - Retail Salespersons 91% - Medical Records Technicians 89% - Tami Drivers and Chauffeurs 84% - Security Guards 81% - Cooks, Fast Food; Medical Secretaries 77% - Bartenders 58% - Personal Financial Advisers 48% - Computer Programmers 20% - Epidemiologists 11% - Reporters and Correspondents 7.4% - Musicians and Singers 3.5% - Lawyers 0.4% - Elementary School Teachers 0.4% - Physicians and Surgeons; Dietitians Bottlenecks to Computers: Machines are unable to match humans in tasks that require social and creative skills and in jobs that require dexterity or getting into cramped spaces. Some examples of occupations that have low probabilities of automation in the near future: Manipulation – Oral surgeons 0.35%; Makeup artists 1%; Chiropractors 2.7%; Fire fighters 17% Creativity – Choreographers 0.4%; Curators 0.7%; Art directors 2.3% Social Perception – Mental health workers 0.3%; Clergy 0.8%; Nurses 0.9%; Coaches and scouts 1.3% The Oxford University study says that Chief Executives are not "computerizable." (See the Appendix .) Why do you think machines are unable to match Chief Executive tasks?
  • White Castle 2013 Cravers Hall of Fame

    In the video above, White Castle , the quick service hamburger chain headquartered in Columbus, Ohio, celebrates its most dedicated customers by inducting them into its Cravers Hall of Fame. Cravers receive special offers for their devotion to the brand. White Castle defines Cravers as follows. "It’s not just a person but a state of being. It’s going beyond, staying up and driving far. It’s road-tripping two hours just to reach the nearest sack of Sliders. And it’s coaching friends on what to order, how to eat it and then how best to stack the boxes. It’s something that’s embraced and then handed down from generation to generation." Managers know the value of life-time customers. What do you think of having a customer hall of fame? How does a customer hall of fame affect employee motivation? Should you be a Hall of Fame customer for a brand? What other businesses could use a Hall of Fame?
  • Leadership versus Management

    According to John P. Kotter, a prominent leadership theorist, today's managers must know how to lead as well as manage. Without leading as well as managing, organizations face the threat of extinction. Kotter draws the following distinction between management and leadership: Management is more formal and scientific than leadership. It relies on universal skills such as planning, budgeting, and controlling. Management is an explicit set of tools and techniques, based on reasoning and testing, than can be used in a variety of situations. Leadership, in contrast to management, involves having a vision of what the organization can become. Leadership requires eliciting cooperation and teamwork from a large network of people and keeping the key people in that network motivated, using every manner of persuasion. (See: John P. Kotter, A Force for Change: How Leadership Differs From Management , New York: The Free Press, 1990; Wayne K. Kuchner, book review of A Force For Change , Personnel Psychology, Autumn 1990, p. 655.) In the video above, John Baldoni , says, " Management is your day job; leadership is your career." What do you think?
  • Alex Gorsky on Leadership Challenges at Johnson & Johnson

    In his video, Alex Gorsky, chairman and CEO of Johnson & Johnson (J&J), talks about his management style. In the interview, he says, "I do believe that one of the best indicators of leadership is a leader’s track record in developing leaders. I will frequently focus on three areas when I’m interviewing or when I’m talking to people. One is certainly on performance because you always want to have leaders who are committed to high performance and … handling a wide range of different scenarios. Second, I always focus on what’s their track record of developing future leaders. One of my favorite questions is to ask people is, “If I asked you who had the biggest impact on your career and how they did that, who are those four people that you would name?” At a senior level, if they can’t name three or four fairly senior level people, then immediately I question their wherewithal in people development." One measure of a good manager is to determine how many of his or her employees have been promoted. Why is promotion of work team members a good measure of leadership?
  • The Worst CEOs of 2013

    Sydney Finkelstein, is the author of Why Smart Executives Fail: And What You Can Learn from Their Mistakes. In the book, he explains "the seven habits of spectacularly unsuccessful people" that drive smart managers to make catastrophic mistakes. The seven habits are listed below. They see their companies and themselves as dominating their environments They identify so completely with the Company that there is no clear boundary between their personal interests and their corporation’s interests. They think they have all the answers. They bully or get rid of anyone not 100% behind them. They are consummate company spokespersons obsessed with company image. They underestimate major obstacles They stubbornly rely on what worked for them in the past ""The best CEOs grow profits and market share," says Sydney Finkelstein , professor of management and associate dean for executive education at Dartmouth’s Tuck School of Business. The Worst CEOs of 2013 Ron Johnson, former CEO of J.C. Penney Thorsten Heins, former CEO of BlackBerry Eddie Lampert, CEO of Sears Eike Batista, founder of EBX Steve Ballmer of Microsoft, who announced in August he would leaving the company within the year How did the five CEOs mentioned in the video above make the list of Worst CEOs of 2013?
  • Video is Engaging

    Most of us like to watch video. We see it, we hear it, and it has movement. In other words, video content is engaging. It can be informative. You can record video on your smart phone and then upload it to YouTube, Facebook, and Twitter for free. What types of video could a manager use to engage employees?
  • Benchmarks of Online Higher Education

    The Learning House, Inc. Download the “ Online Learning at Public Universities: Building a New Path to a College Degree ” report, conducted in conjunction with AASCU member institutions. Download the “ Online Learning at Private Universities: A Survey of Chief Academic Officers ” report, conducted in conjunction with CIC member institutions. Surveys of Chief Academic Officers at the American Association of State Colleges and Universities (AASCU) and the Council of Independent Colleges (CIC) reveal how public and private institutions are navigating the world of online higher education. Notice that Business is the top undergraduate and graduate field of study. What is your school’s online education GPA? How important is this? Do employers look at this?
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