Stay ConnectedThe Knowledge at Wharton feed features standout episodes from across the Wharton Podcast Network. Discover timely conversations and expert insights on business, markets, leadership, innovation, and the forces shaping the global economy.
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Copyright: © 2013 The Wharton School of the University of Pennsylvania
In 2001 the merger between America Online (AOL) and Time Warner was accompanied by lofty hopes of synergies between new-world Internet prowess and old-world content delivery. But those hopes were short-lived. Now with a $30 billion deal to take control of NBC Universal (NBCU) Philadelphia-based Comcast is looking to integrate its cable pipes with many of the channels it distributes. But while much of the initial focus on the Comcast-NBCU marriage has revolved around cable programming assets the combined company’s digital properties may ultimately become more important for its long-term survival say experts at Wharton.
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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 at 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.
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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 at Wharton asked three of the participants – Singh management professor Saikat Chaudhuri and health care management professor Rob Burns – to share insights from their trip.
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The global financial meltdown has been marked by shortages -- of oversight due diligence moral fortitude and common sense. Today approximately two years after the housing bubble burst and world stock markets collapsed possibly the only surplus left from the crisis is that of finger pointing and blame. A panel discussion earlier this week titled ”Responsibility and the Financial Crisis of 2008 ” brought together Wharton and University of Pennsylvania faculty to discuss the causes of the crisis and more importantly to answer the question ”Where do we go from here?”
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When Dubai World announced late in November that it wanted a six-month delay on payments on $26 billion in debt the financial markets were thrown for a loop. The Dow Jones Industrial Average fell 155 points or 1.5% European stocks dropped and oil prices plunged. The Dubai story is still unfolding -- the emirate’s stock exchange fell for the third consecutive day on December 9 after Moody’s downgraded the ratings of six government-linked companies. Though some investors believe Dubai does not provoke as much fear as other corporate collapses over the past couple of years Wharton professors point out that the world economy could face serious problems if similar financial troubles spread to European economies such as Greece.
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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 at 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.
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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 at Wharton spoke with Wharton management professor Larry Hrebiniak and finance professor Pavel Savor about M&A strategy in a post-recession environment.
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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 at 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.
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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 at Wharton. In the process he offers insights into how entrepreneurs can identify new business opportunities and evaluate their potential and their risks.
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