This semester, a group of Pitt Business marketing students are racing against the academic clock as they compete in a nationwide contest, the Acura ILX Marketing Challenge 2016.
The undergraduate team, called “Pros in Motion,” is competing with 20 other prominent universities to develop and implement an integrated marketing communications campaign for Acura’s ILX model.
In this class, the students shift their focus from “getting an A” to winning a nationwide competition. The class, called ‘Projects in Marketing’ organizes students into a working marketing agency, with four key departments: Campaign Strategy, Public Relations, Advertising and Research. As their campaign progresses, students learn the value of cross-functional teamwork in addition to the specialized skills required in each department.
Mentoring relationships are important for developing an invaluable and intangible asset in the workforce — our ability to connect and build positive relationships. Mentoring has been shown to be an effective tool to advance careers in all types of organizations and has been linked to a number of positive outcomes. However, interactions within mentoring relationships are not uniformly positive. A recent article in the New York Times Magazine described a disturbing relationship between a student and adult sponsor that shifted from academic and career guidance into toxic territory including sexual harassment and allegations of assault. The article discusses the “murky situation” during which mentoring relationships go horribly wrong and argues for greater monitoring of mentoring relationships involving students. Continue reading →
The planned merger of Staples Inc. and Office Depot Inc. is a textbook merger transaction, illustrating several of the common characteristics of sensible economic transactions that I discuss with students in my mergers and acquisitions course.
First, it is taking place in a relatively mature industry. Students generally view M&A as glamorous transactions. The fact is, however, that many of the most sensible transactions take place in industries for which high growth is a thing of the past and consolidation is the most effective way forward.
Second, as is so often the case, the Staples-Office Depot combination is a reaction to fundamental change within their industry. In the case of the office supply industry, that change comes in the form of increased competition from new sources, particularly online from Amazon but also from more general big box retailers such as Target and Walmart.
Third, the benefits of the Staples-Office Depot transaction are projected to come in the form of cost reductions, which they forecast will eventually total $1 billion per year.
China is facing massive pressures – internal and external – regarding environmental issues, resource availability, social and economic inequality and more. In many ways, the People’s Republic is facing an imperative to change its economic model and advance not only its methods of production, but what it’s producing. Two examples are China’s foray into nuclear energy and its imminent entry into the commercial aerospace sector.
If Mao’s China was China 1.0 and today’s low-cost manufacturing powerhouse is China 2.0, this new China will be China 3.0. As Chinese policy-makers confront the prospect of slowing growth and the middle-income trap, more business leaders and policy makers are noting everything China buys is becoming more expensive and everything China sells is becoming cheaper. This is one reason why the imperative to master advanced industries is gaining strength: the promise of higher value addition combined with the desire to demonstrate national capability. These developments are significant in their respective industries, but in a more fundamental sense, they are symbolic of a new emerging China – one that is focused on mastering advanced industries that embody complex technology and systems integration. Continue reading →
Web-based TV (aka, streaming TV or Internet TV) is in the limelight with the recent announcement of Sling TV by Dish Network at the 2015 Consumer Electronics Show. Dish CEO Joseph Clayton described it as a disruption and “the launch of a whole new industry.” I primarily see this as another experimental move and an incremental chapter in the TV platform competition. And, I believe the sports fan is a main character in this chapter.
Sling TV is an experiment to make traditional TV relevant for a new generation of consumers. While cable TV (e.g., Comcast, Time Warner Cable, Verizon) and satellite TV (Dish, DirecTV) providers have been the traditional heavyweights, web-based streaming service providers such as Netflix have begun to eat into their market share. Online video-streaming services have already started to become substitutes for the traditional services offered by cable and satellite companies. Now one of the traditional heavyweights, Dish, wants consumers to “take back TV” (interesting slogan for Sling TV).
Will it work? Maybe, and likely only for a small consumer segment. Here is why: Continue reading →
Recently, the Chinese central government initiated the idea that China should pursue a more “harmonious society.” Since then, the central government has issued a number of guidelines promoting positive social change, including among them efforts to encourage more socially responsible business practices. Although compliance with these new goals is not mandatory, the government can put political pressures on Chinese firms to report on their business practices – especially practices focused on social, environmental, and human rights.
Since compliance to these new goals is not mandatory, what is the incentive for Chinese firms to try to reach them? The firms that conform to the new guidelines can gain an enhanced reputation, be viewed as politically legitimate, and can gain access to valuable governmental resources. Not surprisingly, we have seen an increase in the number of Chinese firms that are voluntarily providing formal reports on their corporate social performance. Used frequently in the U.S., this type of reporting is one strategy that companies use to manage their relationships with governments, build more positive reputations, and, in some cases, appear more positive to customers and business partners. Many people, however, have raised concerns about the increase in these reports as merely a tool for companies to appear socially responsible in much the same way that some firms that promote environmental sustainability are labeled as “greenwashing.” Continue reading →
President Obama’s announcement on December 17 that the U.S. will work with Cuba to restore normal diplomatic relations between the two countries after more than 50 years should be good news to the majority of Americans who support better relations with Cuba. It is particularly exciting for an old-timer like me, whose father regularly traveled to Cuba on business in the 1950s. I remember how much my father loved Cuba and how excited he and his Cuban colleagues were when a young Fidel Castro overthrew the brutal dictatorship of Fulgencio Batista in 1959. Unfortunately, Castro was not the democratic liberator those middleclass Cuban businessmen had expected, and soon they all fled Cuba. My father always hoped to visit Cuba again, but he died without doing so.
According to The New York Times, President Obama will take executive actions that will reduce restrictions on banking and remittances of Cuban Americans to family members in Cuba. Actions should also permit telecom and Internet connections between the two countries and travelers will be allowed to bring back $400 in goods, including $100 in Cuban rum and cigars. The President has asked Secretary of State John Kerry to work on re-establishing diplomatic relationships with Cuba and re-opening a U.S. Embassy in Havana. Secretary Kerry will also investigate whether Cuba can be removed from the list of countries that sponsor terrorism, a list it has been on since 1982. High-level delegations will begin talks on issues such as Cuban-American migration, narcotics, the environment, human rights and human trafficking. Travel restrictions will be eased for the 12 categories of visitors currently allowed to visit Cuba, but not for the ordinary American tourist looking for an inexpensive vacation on a sunny beach in Cuba. Continue reading →
Out of homesickness, I just checked the November weather for the ‘Burgh. Amazing coincidence: the temp on this day in Pittsburgh should hit 22 degrees and here in Sydney, at this very moment it’s 22 degrees!
Celsius that is.
Y’all learned how to do °C à °F in school, right? But in case you forgot, here in Sydney it’s 72 bright, sunny, warm, U.S. degrees. No cloud to be seen either. The sun enrobes you like gossamer cashmere. Perhaps a bit chilly for some, but if you were here, you just might be tempted to go to the beach.
And Sydney has beaches. Take your choice: Bondi, Tamarama, Bronte, Clovelly, Coogee, Marouba — and that’s just on the south of town accessible by bus from the city center. Continue reading →
“platypus” (That works but c’mon, you didn’t say that)
“ostrich” (wrong, but a similar thing called an emu)
“…that cute little furry teddy-bear-like thing?” (maybe you mean koala, which is right, or maybe panda, which is wrong)
Nah…you probably said kangaroo!!!
My wife keeps asking me, “Have you seen any…kangaroos?” No, can’t say I have. Sydney is a city and these guys generally aren’t urban critters, although try telling that to one spotted recently in the Adelaide suburbs patiently awaiting his/her train.
However, on my third time to the Night Noodle Market (on a CAPA field visit), I did see something at a distance that I thought was a weird squirrel with a scrawny tail (it was in the same park as the Market, but far from the noodle action).
“No,” said Dana the CAPA lady leading our little band. “It’s just a ‘possum, a baby.” A brush-tailed type, no doubt, as I learned later with some Internet time. Continue reading →
A recent report issued by CNN Money revealed that fathers have a median salary of $49,000 compared to $29,000 for men without kids. While some of this can be explained by the fact that fathers tend to be older and more established, there is a gap in the earnings even for men of the same age and career stage. Although working mothers still make substantially less than working fathers, the benefit of having children appears to be true for both men and women. Parenthood clearly can give a financial boost, which is consistently greater for men relative to women.
In an earlier blog, I wrote about “Having It All But Not Getting It,” arguing that the gender imbalance in terms of household work and childcare remains intact. Women still work longer combined hours at home and at work compared to men and this persistent “double burden” for working women appears almost permanent. The salary data reported by CNN isn’t the only important trend related to worker-parents. There is a growing number of working fathers and mothers reporting concerns over asking for flexible arrangements because of their view that balancing work and family obligations can derail a career or even destroy it. A report published in the Journal of Social Issues reveals that employees often don’t take advantage of work-family offerings for fear of wage penalties, low performance evaluations, and limited opportunities for future promotion. Both men and women feel they risk being perceived as not career-focused or committed to the organization if they voice a desire to have harmony across the work-family divide. Some argue that there is even a higher penalty paid for fathers versus mothers who want to emphasize family over career because of the persistent stereotype that men are (or should be) success-orientated, work-focused, career-driven employees. Continue reading →