It turns out that, back in 2009, the Fed had commissioned Columbia Business School Professor and former banker David Beim to conduct a study to get to the bottom of the agency’s failure to regulate the banks and prevent the financial collapse of 2008.
What did Beim discover? Were the economics too sophisticated to understand? The markets too complicated? No.
As it turns out, the regulatory failure was in fact due to a lack of psychological safety that would have allowed Fed employees to share their observations and concerns.
Building Block 1: A supportive learning environment.
An environment that supports learning has four distinguishing characteristics.
To learn, employees cannot fear being belittled or marginalized when they disagree with peers or authority figures, ask naive questions, own up to mistakes, or present a minority viewpoint. Instead, they must be comfortable expressing their thoughts about the work at hand.
Opinion: The importance of acting now cannot be overstated: every euro spent on fossil fuels today condemns parts of the world to hurricanes, drought and infectious diseases
The meeting of the European Council – the gathering of the EU member states – in Brussels on Thursday and Friday will lead to a decision that will have far-reaching consequences. The summit is expected to see the adoption of a new framework for Europe’s climate and energy policy, including a set of targets for 2030 to cut our greenhouse gas emissions, boost renewable energy use and reduce overall energy use. These pledges matter, for Europe and the international community.
Mary Robinson, former president of Ireland, is the United Nations secretary-general’s special envoy on climate change and a member of the European Climate Foundation’s advisory board
Business education needs to be more integrated, more interdisciplinary and more oriented towards thinking about the bigger “system-level” picture. A second order level of thinking is required. Moving beyond the direct relationship between action and value, business schools must offer education that addresses the complex systemic challenges we are all facing.
New organisational forms have evolved in Europe. My own organisation, Climate-KIC, is Europe’s largest public-private partnership with more than 230 partners drawn from prestigious universities, research institutions, blue-chips and SMEs. The EU created the KICs to address the innovation challenge of Europe and make existing models obsolete. These organisations are creating new knowledge and will be a stimulus for business schools to evolve and change.
Lou Gerstner will always be known as the man who saved IBM after resuscitating, then reinvigorating, the near bankrupt company when he took over as chairman and CEO in 1993. Gerstner’s career, though, spanned 43 years which also included more than a decade at McKinsey, senior positions at American Express, and four years as chairman and CEO of RJR Nabisco. Since stepping down from IBM in 2002 he has continued to lead an active “portfolio” life in education, healthcare, and private equity. In this conversation with former McKinsey managing director Ian Davis, he reflects on the DNA of companies that keep on creating value.
The Quarterly: How do you think about corporate longevity? Does it help executives if their companies explicitly aim to be around a long time, by which I mean a generation or more?
Lawrence H. Summers is the Charles W. Eliot University Professor and President Emeritus at Harvard University. He served as the 71st Secretary of the Treasury for President Clinton and the Director of the National Economic Council for President Obama.
Realising Opportunities project helps aspiring undergraduates from poor areas gain places at elite research institutions
A student-mentoring scheme has helped hundreds of disadvantaged teenagers to gain places at research-intensive universities, a study has suggested.
Realising Opportunities, which is run by 15 universities, targets high-achieving students in deprived areas and helps them to carry out an extended project qualification with the support of undergraduate mentors, which is then considered part of their university application.
Some 77 per cent of participants who applied received a university offer this year, up from 64 per cent in 2013, according to a report to mark the scheme’s fourth year as a self-funded initiative. The initiative began in 2009 as a government-financed project.
Co-founder at insPeer, Founder and senior consultant at Ithaca Consulting Top Contributor
"We are very proud to contribute to the IE tradition of entrepreneurship. Inspeer, the first peer-to-peer insurance platform, co-founded by Louis de Broglie and Emmanuelle Mury, both IE alumni, is amongst the 5 runners-up for the Great Prizes of Innovation of the city of Paris. www.inspeer.me/finalistes-services-aux-particuliers/"
Nous avons le plaisir d'annoncer qu'Inspeer est finaliste des Grands Prix de l'Innovation de la ville de Paris 2014 dans la catégorie services aux particuliers. Plus de 460 candidatures ont été reçu...
Inspeer, a startup by two alumni, amongst the 5 runners-up for the Great Prizes of Innovation 2014 of Paris. http://t.co/TZGGYmm4Bt
Prompted by the 20th anniversary of Investing in Health, the World Bank's 1993 World Development Report (WDR 1993), an independent commission of 25 renowned economists and global health experts from around the world came together from December 2012 to July 2013 to revisit the case for health investment. The commission was chaired by Lawrence Summers, the Chief Economist at the World Bank responsible for choosing global health as the focus of WDR 1993, and co-chaired by Dean Jamison, lead author of WDR 1993. The commissioners aimed to reconsider the recommendations of WDR 1993; examine how the context for health investment has changed in the past 20 years, and develop an ambitious forward-looking health policy agenda targeting the world's poor populations.