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Copyright: © 2013 The Wharton School of the University of Pennsylvania
When consumers are diagnosed with a medical condition such as high cholesterol or obesity they immediately begin a new regime of brisk walks and a diet of heart-healthy foods right? Not necessarily says Wharton marketing professor Lisa E. Bolton. If those consumers are taking a prescription or over-the-counter drug for their condition they may actually toss back more chips and donuts. Those taking a supplement however may be more likely to eat broccoli and hit the treadmill. In a new research paper Bolton Wharton marketing professor Americus Reed II and Penn medical school professors Kevin G. Volpp and Katrina Armstrong look at how consumer perceptions of supplements and prescription drugs can affect risk perceptions and intentions to diet and exercise.
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It’s one of the oldest most fundamental ideas in management theory: that executives should understand how the many distinct functional components of a firm -- production distribution product mix human resources -- interrelate to achieve the proper fit. In recent years however this notion of comprehending the ”part-whole” relationship of the firm fell out of favor as thinkers turned to other concepts -- such as relying on core competencies to attain competitive advantage. Now two professors in Wharton’s management department Daniel A. Levinthal and Nicolaj Siggelkow say it is time to once again address the part-whole concept. Without this systemic way of looking at companies the researchers note firms run the risk of engaging in compartmentalized thinking that can work to their disadvantage. The two scholars have addressed issues related to firm positioning and the part-whole relationship of the firm in a number of papers and articles.
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Once again proxy season has revealed some eye-popping numbers in executive compensation packages generating heat from shareholders labor organizations and some analysts who contend that the links between CEO pay and performance are frayed. Other experts however suggest that most executives do earn their pay without indulging in mega-option packages or in salaries that keep increasing even as share value declines. At the same time these experts also suggest ways to improve compensation packages to more closely align them with shareholder interests.
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Illegal immigration into the United States has sparked heated debate in Congress roiled the two main political parties and prompted hundreds of thousands of immigrant supporters to take to the streets recently in peaceful demonstrations nationwide. At stake are the lives and livelihoods of as many as 12 million undocumented workers the companies they work for and the job opportunities of millions of low-skill American citizens. The large number of illegal immigrants raises key economic questions: Do illegal immigrants depress wages paid to low-skill workers? Do they take jobs away from Americans? How dependent on undocumented workers is the U.S. economy? Should illegal immigrants be compelled by law to return to their native countries? Or should Congress hammer out legislation that would allow illegal immigrants to pay some type of penalty yet remain in the United States and continue working?
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Almost anyone who has been following the auto industry especially in the U.S. will agree that lately it has had a bumpy ride. For one thing the difficulties of GM and Ford have filled the headlines for several months now and there has been lots of speculation about how severe these problems are. In addition the auto parts maker Delphi which was spun off from GM in 1999 is now in the midst of bankruptcy proceedings and actively negotiating with both the United Auto Workers union and GM. Yet another challenge is growing global competition: Virtually all the Japanese brands are showing an increase in market share in the U.S. And finally questions continue to persist about advances in technology especially as they concern the new hybrid models. John Paul MacDuffie a professor of management at Wharton and co-director of the International Motor Vehicle Program spoke about these issues with Knowledge at Wharton’s Mukul Pandya and Robbie Shell.
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In Wharton marketing professor George Day’s world the term ”peripheral vision” means the ability of companies to detect interpret and act on distant signals whether a rumor heard about a new rival a newspaper article about a new medical device or the popularity of a blog started by a dissatisfied customer. Day and co-author Paul Schoemaker have written a book entitled appropriately enough Peripheral Vision: Detecting the Weak Signals That Will Make or Break Your Company designed to help firms avoid being blindsided by unexpected events. According to the authors only 20% of companies have succeeded in developing peripheral vision well enough to stay ahead of their competitors. Day talked with Knowledge at Wharton’s Mukul Pandya and Robbie Shell about his book.
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As CBS News put it ”When the Fed Chairman Speaks Everyone Freaks.” What that hyperbolic headline refers to is the sell-off in stocks and rise in bond yields this week after Ben Bernanke the Federal Reserve chairman reportedly told a CNBC reporter that markets had misread his testimony before Congress last week during which he had seemed to hint that the Fed might pause in raising interest rates. Stocks and bonds rallied in response. But after suggesting at a Washington correspondents’ dinner over the weekend that the markets had ”misunderstood” him the sell-off began. What exactly is the Fed likely to do on May 10? And what will that mean for investors? Jeremy Siegel a professor of finance at Wharton and author of the book The Future for Investors spoke with Knowledge at Wharton’s Mukul Pandya and Robbie Shell about interest rates oil prices the commodities markets Bernanke’s learning curve and President Bush’s approval ratings among other topics.
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Rising prices for crude oil and gasoline have alarmed many consumers and put President Bush and other U.S. politicians in a position where they feel they have to do something -- anything -- in response especially in an election year. But members of Wharton’s finance department and private-sector economists say it’s a good time to look rationally at the reasons for the price hikes and their likely effect on the economy and on energy policy. They also say that as long as the United States continues to rely on oil producers in other parts of the world high prices and price volatility will be the norm. Bolivian President Evo Morales’s decision announced this week to nationalize the country’s natural gas sector only underscores that point.
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When Lawton Robert Burns Wharton professor of health care systems began teaching healthcare management he found a hole in the academic literature. There was plenty of material on physicians hospitals government regulations and insurance. But there was no single source of good information on a key component of the industry -- the producers of healthcare products. Burns aims to fill that gap with his new book The Business of Healthcare Innovation. The book focuses on four sectors -- pharmaceuticals biotechnology medical devices and information technology -- and looks at the internal and external factors at work in determining whether a new pill or new pacemaker ends up in the hands of patients and doctors.
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NutriSystem -- the Horsham Pa.-based online weight-loss company -- has bulked up. Its first-quarter 2006 revenues grew 292% to $146.8 million and net income rose 592% with analysts predicting continued sharp increases in 2006. Memories of its bankruptcy filing and litigation woes under previous owners have all but been erased even as the company plans to target new customer segments and expand internationally. And yet according to CEO Michael Hagan and president George Jankovic both of whom spoke at Wharton last month there has been as much luck and grit as glamour and glitz in the company’s rise from the ashes. ”Sometimes you learn more from your mistakes than from your successes ” says Jankovic.
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