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Feb 4, 2019

The Future Time Slack Phenomenon, and More – Boston News

Future Time Slack

Let’s review the most interesting stories to emerge from Boston business schools this week, including a Harvard professor’s explanation of what exactly “future time slack” is and why you may be dealing with it on a regular basis.


Time For Happiness: Why the Pursuit of Money Isn’t Bringing You Joy—And What WillHarvard Business Review

New research shows that even if an employee receives a promotion or raise they covet, they may feel just as discontented. Regardless of the outcome of our efforts, we all feel increasingly strapped for time, and often the things that we believe will make us happy—and that we work so hard for—don’t.

Evidence shows that “time affluence” i.e. the feeling of having enough time is at a record low in the United States. Ironically, despite the perception that people today work longer and harder, data shows that most of us have more discretionary hours than ever before. Yet we still feel starved for time.

Harvard Business School Assistant Professor Ashley Whillans writes, “In a study of nearly 40,000 Americans, when people made time-saving purchases on Saturday or Sunday (versus those who did not), they spent about 30 minutes more socializing with friends and family. That in turn promoted greater end-of-day happiness. The people who made those purchases were happier not only because they socialized more but because they derived greater joy from doing it.”

Whillans notes the behavioral factors that affect our decisions to choose money or time. “We suffer from something called future time slack—the belief that we’ll have more time in the future than we do in the present. So, we decide to make some sacrifices now with the promise of enjoying more time later. Of course, when the future comes, we don’t have more time. We just repeat the same mistake.”

You can read more about Whillans’ research here.

Expert Witnesses: Accounting and MBA Students Testify in CourtSawyer Business School

In the Suffolk Law School Moot Courtroom, lawyers deposed Accounting and MBA students in a simulated embezzlement case. This marked the culmination of a semester of students interviewing a plaintiff and a defendant, gathering evidence, writing memos and reports and crunching numbers to determine how much money had been stolen from a fictional company.

As one student after another took the witness stand, the plaintiff’s attorney, Accounting Professor Martino Coviello, BSBA ’97, MSCJ ’04, and the defense attorney, Walter Nelepa, JD ’12, put them through lines of questioning.

Professor Coviello described the reasoning behind this simulation:

“A forensic accountant needs to keep a mindset that everything he or she does will, at some point, be scrutinized in a courtroom. So students need to understand not only courtroom procedures, but also withstand the scrutiny of a defense attorney. It never really clicks until you’re actually in a courtroom.”

Coviello notes how the courtroom simulation has a recognizable impact on the students abilities to recall and stand by their investigation. “You might have missed a date on a memo or you might have misplaced your notes, and that doesn’t seem like a problem until you’re in a courtroom and a defense attorney makes a big deal out of it.”

“He’s trying to instill doubt in the minds of the jurors by asserting that if you made a mistake on that stuff, then you must have made a mistake elsewhere in your investigation,” Coviello says.

You can read more from the article here.

Why AirAsia Boosts Marketing During a Crisis MIT Sloan Ideas That Matter

Tony Fernandes, CEO of AirAsia recently spoke at MIT Sloan to share lessons learned about finding opportunity in adversity and building a culture around people.

Fernandes purchased AirAsia back in 2001 when the airline was $11 million in debt, turning it around to become the world’s best low-cost airline. AirAsia has weathered a range of disasters since Fernandes took charge, from 9/11 to the severe acute respiratory syndrome (SARS) outbreak, bird flu, high oil prices, and a currency crisis. Instead of panicking, Fernandes pays a visit to his advertising department. In fact, during the SARS outbreak, Fernandes tripled AirAsia’s advertising.

Image result for AirAsia CEO Tony Fernandes

Tony Fernandes, CEO of AirAsia, bucked traditional trends, increasing spending during times of financial crisis, often to the company benefit.

Fernandes remarked, “Most companies cut marketing during a crisis, which is actually a huge mistake. Adversity is a great time to build a business.”

Fernandes adds that it’s important to remember that it’s always people who are the key to a company’s success, and that he is working to create a culture that reflects that.

“I probably spend 50 percent of my time walking around the office, because I think management by walking around is critical. Never lose sight that your biggest asset is the people in your organization. It’s not all about you—it’s about the whole team.”

You can read more about Fernandes and his visit to MIT here.

Posted in: Boston, Featured Home, Featured Region, News | 0 comments

Jan 29, 2019

UVA, Oxford, CEIBS Rise in All-New Financial Times 2019 Ranking

Financial Times MBA

The latest Financial Times MBA ranking is officially out, with several international schools rising closer and closer to the top in 2019.

Continue reading…

Posted in: Featured Home, Financial Times, MBA Rankings, News | 0 comments

Jan 28, 2019

Gig Jobs vs. Full-Time and Revenue Sharing – Boston News

Gig Jobs vs Full-Time

Let’s explore some of the most interesting stories that have emerged from Boston business schools this week.


Should It Be a Gig or a Job?Questrom School of Business News

New research from Boston University Questrom School of Business‘ Associate Professor Andrei Hagiu and National University of Singapore’s Julian Wright examines how firms classify an employee versus an independent contractor, and how this relates to revenue sharing.

Hagiu notes that this classification greatly depends on the amount of decision-making power that firms cede to workers—and that appropriate revenue sharing should follow suit.

“In many cases, the share of variable revenue that is retained by workers is a good proxy for whether they can be considered independent contractors or regular employees,” says Hagiu.

The research notes:

“Firms that wish to classify their workers as independent contractors and provide a higher share of transferable decisions to workers should be paying them at least half of variable revenues. Firms that pay less than half of variable revenues to a worker should likely employ the worker, but provide a lower share of transferable decisions to workers.”

You can find out more from the research here.

Your Acquired Hires are Leaving and Here’s Why MIT Sloan Ideas That Matter

Large companies often acquire startups in order to eliminate competition, with the added benefit of gaining skilled and innovative workers. Unfortunately, new research from MIT Sloan doctoral candidate Daniel Kim shows that this “acqui-hiring” strategy is not as effective as some think.

According to Kim’s paper, “Predictable Exodus: Startup Acquisitions and Employee Departures,” within the first year of a company’s acquisition, 33 percent of acquired workers left, compared to 12 percent of regular hires.

While those percentages tend to level off over time, in the three-year window Kim studied, acquired workers were 15 percent more likely to leave than new hires. This exodus is largely due to an organizational mismatch and new hires’ lack of agency.

Employment retention data, courtesy of Meredith Somers at MIT Sloan.

“People who work at startups join a startup for a reason,” Kim says. “Primarily they want to be in a very entrepreneurial, scrappy organization. But once they get acquired by a big firm, that is in direct opposition with the preferences that they have.”

You can read more about Kim’s research here.

The Accidental RestaurateurCarroll School of News

Joe Essa, BC Carroll Alum ‘79, told the Carroll School of Business Blog that it was “a bit of a fluke” that he ended up becoming a successful restaurateur and ultimately the President and CEO of Wolfgang Puck Worldwide, overseeing more than 50 eateries across the nation along with licensing Puck’s cookbooks, canned soup, and other consumer products.

In 1983, when tending to his ill father in Greensboro, Essa was approached by a real estate developer friend, who needed a restaurant to complete a shopping center project. Café Pasta, Greensboro’s first casual Italian restaurant, was born.

Essa refers to the curriculum he learned at Carroll to keep him on track: “I always drew upon my accounting training … I knew you had to end up with some money in the bank! So I was very disciplined in that regard from day one.”

Eventually Essa sold his share of Café Pasta and came to work with Wolfgang Puck in 1999. He spoke passionately about his eclectic role within the organization.

“It’s not just one kind of dining, it’s many different kinds of restaurants, different cuisine. And then looking into the leases, license agreements, and marketing and promotion for all those businesses. And the people you get to meet along the way are fascinating. You get up every day and it’s different, it’s exciting, and it’s humbling. I just count my blessings.”

Click here to find out more about Essa’s life and career.

Posted in: Featured Home, Featured Region, News, Philadelphia | 0 comments

Jan 22, 2019

Harvard Talks Managing Disorganized Employees, and More – Boston News

Managing Disorganized

Let’s explore some of the most interesting stories that have emerged from Boston business schools this week.


How to Manage Someone Who Is Totally Disorganized – Harvard Business Review

Disorganized employees can be wellsprings of frustration, but there are ways to help them better understand how disorderly tendencies impact others.

Harvard Business School‘s Rebecca Knight recently discussed strategies in HBR, addressing root behavior causes and ultimately develop better systems to manage workloads.

“’Is this person’s approach creating negative outcomes, or is it just a style difference?’ If your report indicates ‘disorganized but otherwise reliable, you may have to back off.'”

Rosie Perez (not the actor), Lead Financial Officer of Global Consumer Business Planning and Analytics at American Express, adds, “It takes a lot of time to change ingrained behavior, but it can be addressed. Most importantly, as leaders, it is our job to help coach our colleagues [with] constructive and pointed feedback.”

You can read more about the research here.

Bye-Bye Ivory Tower: Innovation Needs an Ecosystem to Thrive by Tracy MayorMIT Sloan Ideas Made to Matter

Innovation is not exclusively indigenous to Silicon Valley. We continue to see exciting developments in London, Tel Aviv, New York, Boston, China, Nigeria, Ghana, and South Africa. However, despite the benefits of globalization, the world of innovation is not wholly flat.

New MIT Sloan research has determined that there are geographic hotspots, or “innovation ecosystems,” where ideas move more easily from inception to impact.

Phil Budden, a Senior Lecturer Specializing in Innovation and Entrepreneurship, notes how the traditional “triple helix” that has long driven innovation—university, government, and corporations—is now joined by two additional players: entrepreneurs and risk capital.

“It’s so important to have innovation-driven entrepreneurs involved. They’re producing the companies of the future. You can’t just have today’s companies [in an ecosystem], you need to have those leaders who are going to produce future companies.”

Fiona Murray, Associate Dean for Innovation, urges corporations to take advantage of startups and entrepreneurs to help experiment on their behalf.

“What these startups tend to do very well is define, order, and test their assumptions through a series of what we call ‘innovation loops. So, one of the benefits of going from a purely internal research and development process to working externally is that you can really rely on the universities and startups in an ecosystem to do that experimentation for you.”

You can read more about global innovation here and watch the recent discussion below.

Joy Field Garners Top Award from Decision Sciences Institute by William BoleCarroll School News

BC Carroll School of Management Associate Professor of Operations Management Joy Field has received the highest honor bestowed by the Decision Sciences Institute (DSI), a global society of more than 1,800 scholars dedicated to fostering knowledge for better managerial decisions.

Field was named the 2018 co-recipient of the Dennis E. Grawoig Distinguished Service Award, named for a founder of the 50-year-old Institute. The other recipient was Morgan Swink of Texas Christian University.

DSI President Johnny Rungtusanatham of Ohio State University asserts, “This is a highly competitive distinction awarded to those who have made a continual impact on the Institute and the disciplines it serves.”

Field reflected on her two decades of involvement with the Institute. “DSI has been a major contributor to all aspects of my professional development—publishing, teaching, and service—and I am delighted to have been chosen to receive this award from among the many colleagues who have also contributed so much to DSI.”

Find out more about the recent award here.

Posted in: Boston, Featured Home, Featured Region, News | 0 comments

Jan 10, 2019

Babson MBA Alum Wins Virtual IAN Global Startup Competition for $250,000 in Funding

Startup Competition

Finding funding for a startup isn’t easy. Not only are there few angel investors looking to fund early-staged startups, but time and distance can make it even more difficult to succeed on the fundraising path. That’s why Babson College F.W. Olin Graduate School of Business works together with the Indian Angel Network (IAN), India’s first and the world’s largest business angel network, to develop a new type of startup competition: the IAN Global Startup Competition.

“We are pleased to host such a vibrant initiative that demonstrated the breadth of talent and truly innovative ideas being created by Babson startups,” Padmaja Ruparel, co-founder of IAN and Founding Partner of the IAN Fund, says in a press release.

“For more than ten years, IAN has worked to advance the transformative power of entrepreneurship across the globe, opening the door for emerging businesses to draw on in-depth operational and strategic mentorship.”

Continue reading…

Posted in: Boston, Featured Home, Featured Region, News | 0 comments

Jan 8, 2019

MIT Sloan Experts Talk Business in 2019

Business in 2019

What can you expect from the business world in 2019? Professors and lecturers from MIT Sloan discuss seven businesses to keep an eye on in the New Year. Here’s what they had to say.

Continue reading…

Posted in: Advice, Boston, Featured Home, Featured Region, News | 0 comments

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