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Copyright: © 2013 The Wharton School of the University of Pennsylvania
Most industries do not begin on a single day but it’s easy to see Facebook CEO Mark Zuckerberg’s presentation on May 24 2007 as the starting gun in an entrepreneurial race that some have dubbed ”the Facebook Economy.” Zuckerberg announced that the social networking site would open to third-party developers transforming itself into a platform on which other businesses can operate. Eight months later more than 14 000 applications from third-party developers are live on Facebook including Scrabulous an online version of the word game Scrabble. But Scrabulous one of Facebook’s biggest hits may also become a victim of its own success.
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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 at Wharton asked Wharton management professors John Paul MacDuffie and Mauro Guillen to steer us through the turmoil.
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On January 10 Amazon.com announced a partnership with Sony BMG Music Entertainment to offer music downloads without digital rights management software which typically limits how content can be used. Amazon now has all four major music labels along with thousands of independent ones selling songs without DRM technology. While DRM may be all but dead in the music industry experts at Wharton point out that it is still widely used in the online video industry due to what one faculty member calls ”a different market dynamic.”
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Even against the backdrop of an increasing likelihood of recession television advertising spots for February’s Super Bowl XLII were nearly sold out by early January -- several weeks sooner than in the past -- and advertisers are paying record prices. While the power of television has waned as new media compete for consumers’ attention the Super Bowl appears to have retained -- and solidified -- its position as the ultimate in television marketing according to Wharton faculty and industry analysts.
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Most energy experts agree that global warming is a serious threat and they also agree that green technology has the power to fundamentally reshape how business gets done. But at this early stage these experts -- including investors -- are finding it hard to separate truth from exaggeration when it comes to the benefits that green technology can offer. That was the consensus of industry speakers at the recent Wharton Energy Conference who participated in panels on renewable energy oil and gas energy finance and power.
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When Givenchy dressed Audrey Hepburn for her role in the 1961 film Breakfast at Tiffany’s luxury was still exclusive the particular provenance of the refined social elite. By 1980 all that was changing. When Brooke Shields announced that nothing came between her and her Calvins the message was not that Calvin Klein jeans were for her alone; it was that they were for everyone. In the 20-year span between the film and the ad luxury entered the mass market -- and quite arguably stopped being truly luxurious as Dana Thomas cultural correspondent for Newsweek suggests in her book Deluxe: How Luxury Lost Its Luster.
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After riding a wave of unprecedented industry growth an established technology manufacturer experiences a sudden market downturn. What should it do? Whereas managers often push for quick bottom-line analysis when facing uncertainty Wharton management professor Sarah Kaplan says that the best move might be to encourage employees to engage in ”framing contests ” in which they champion alternative strategy scenarios. In a new research paper titled ”Framing Contests: Strategy Making under Uncertainty ” Kaplan looks at how employees’ frames shape strategic decisions calling into question traditional notions about hierarchy and power in firms.
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Though the subprime mess and rising oil prices slammed the U.S. economy during much of 2007 other emerging markets -- especially China and India -- seem to be on a roll. China’s growth rate of more than 11% is likely to continue and India too should be able to sustain a high rate of GDP growth even if it slows from last year’s 9%. Latin America meanwhile is cautiously optimistic but could see a moderate decline in 2008. The Knowledge at Wharton Network sites -- including Universia Knowledge at Wharton China Knowledge at Wharton and India Knowledge at Wharton -- spoke with Wharton faculty and other experts about what to expect during the coming year.
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In Germany labor unions traditionally have had seats on corporate boards. At Japanese firms dozens of loyal managers cap off careers with a stint in the boardroom. Founding families hold sway on Indian corporate boards. And in China Communist Party officials are corporate board fixtures. But as companies continue to globalize should they consider adopting one uniform model of corporate governance? Or do global investors benefit from diverse governance structures? Wharton faculty and others offer their opinions.
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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 at Wharton recently spoke with Pack about his book.
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