More than 470 students from the Global Network for Advanced Management will participate in two installments of Global Network Week in the coming weeks, with courses taking place March 3-7 and March 17-21 at 12 member schools around the world.
For pretty much anyone in the Western world, the Internet is not only ubiquitous, it’s practically inescapable. Between phones, tablets, PCs, game consoles, televisions and set-top boxes, the Internet exists in every corner of our lives. Almost. In the wake of this year’s CES, we’re hearing louder than ever that the future is “The Internet of Things,” everyday devices equipped with sensors and connectivity to work together, understand what we’re doing, and operate automatically to make our lives easier. And, of course, we’ll be able to control and configure it all, likely with our tablets and smartphones, or by speaking. After all, Siri and Google Now have taken voice recognition mainstream.
There is some room for convergence. The AllSeen Alliance is creating a universal, open-source framework to enable the “Internet of Everything,” based on the AllJoyn framework, contributed by Qualcomm. If this standard gains traction, AllSeen might solve the “basket of remotes” problem...
The NYU Entrepreneurial Institute leads a campus-wide initiative to inspire, educate, connect, accelerate and fund aspiring NYU entrepreneurs and help the university community translate great ideas and inventions into successful commercial ventures. The Institute offers a series of programs, events and resources, including the NYU Innovation Venture Fund, a $20 million investment fund that provides seed capital to help launch startups founded by and/or commercializing technologies and intellectual property developed by NYU students, faculty and researchers.
This week, I was at the Tuck School of Business at Dartmouth, talking about the difference between price and value. I built the presentation around two points that I have made in my posts before. The first is that there are two different processes at work in markets. There is the pricing process, where the price of an asset (stock, bond or real estate) is set by demand and supply, with all the factors (rational, irrational or just behavioral) that go with this process. The other is the value process where we attempt to attach a value to an asset based upon its fundamentals: cash flows, growth and risk. For shorthand, I will call those who play the pricing game “traders” and those who play the value game “investors”, with no moral judgments attached to either. The second is that while there is absolutely nothing wrong or shameful about being either an investor (No, you are not a stodgy, boring, stuck-in-the-mud old fogey!!) or a trader (No, you are not a shallow, short term speculator!!), it can be dangerous to think that you can control or even explain how the other side works. When you are wearing your investor cape, you can be mystified by what traders do and react to, and if you are in your trader mode, you are just as likely to be bamboozled by the thought processes of investors. So, at the risk of ending up with a split personality, let me try looking at Facebook’s acquisition of Whatsapp for $19 billion, with $15 billion coming from Facebook stock and $4 billion from cash, using both perspectives.
I think it’s time for us to admit that the critics have a valid question: Why aren’t business schools changing faster to keep up with changes in the business world?
Recently I attended two gatherings for business school deans where this question surfaced center stage. The first was the EFMD Conference for Deans & Directors General in Gothenburg, Sweden and other, the AACSB Deans Conference in San Francisco, CA. These meetings attracted respectively more than 300 and 600 business school leaders from all over the world and were a great place to assess what’s going on and, more importantly, what’s not.
At the EFMD meeting, I moderated a plenary where The Economist writer Adrian Wooldridge unleashed a set of criticisms at business schools—e.g., being too slow, focusing on the wrong things, being too distant from realities in their research, and preoccupied in publishing incremental insights in slow academic journals with only a modest impact. (See his summary in a Schumpeter column here). The Forbes writer Steve Denning followed up with an article saying that business schools take comfort in keeping that disruption slow. Richard Straub, President of the Global Peter Drucker Forum, commented that business schools suffer from the syndrome of our own success; we do not see the need to change what we believe is a winning model...
Key Factors to Become a Global Startup, The Spanish Institute for Foreign Trade (ICEX) curates this panel on Internationalization. Four internationally successful Spanish entrepreneurs will be the participants. Some of them are living outside, and from there to grow their businesses in Spain. These entrepreneurs will explain the difficulties they found when setting up their businesses.