The business environment surrounding U.S. companies has changed and they are looking for ways to not only survive, but thrive against severe competition.
Four U.S. business school lecturers presented a series of lectures on their research of U.S. businesses at a symposium titled “Corporate Competitiveness from the International Viewpoint,” organized by the Keizai Koho Center in Tokyo on May 30.
Each lecturer delivered their presentation before taking part in a panel discussion.
Productivity and capital allocation
The first speaker, John Asker, an associate professor in the Department of Economics at New York University’s Leonard N. Stern School of Business, spoke from his standpoint as an economist...
David Schweidel (faculty page) joined the Goizueta Business School faculty in 2012. His research focuses on the development and application of statistical models to understand customer behavior, specifically in the context of customer relationship management and customer valuation. His current research explores the use of social media as a means of marketing intelligence.
The BC3, Basque Centre for Climate Change, has been ranked second place in the Climate Think Tank Ranking, ahead of 293 public and private organisations working in the field of climate change economics and policy.
BC3 es un centro de investigación multidisciplinar que fue creado en 2008 en el marco del programa BERC del Gobierno Vasco y apoyado por la Universidad del País Vasco, con el objetivo de fomentar la excelencia en la investigación a largo plazo de las causas y consecuencias del cambio climático.
However, the case for lowering the ambition of climate change efforts, as a weakening of the Fourth Carbon Budget would imply, is not justified by competitiveness concerns, not least because of the negative impacts this would have on some of the economy’s fastest growing and most promising and innovative sectors. Uncertainty about the future climate policy framework could potentially cost jobs and affect growth, especially in the current macroeconomic environment. (end of paper)
The HU-Startup Webpgr has won the German Silicon Valley Accelerator ( GermanAccelerator.com ) tender of the Federal Ministry of Economy and Energy for promising young companies. The award provides up to 16 teams a three-month stay in Silicon Valley, the tech hot spot of the USA.
YES, we made it! Germany reached the semi final and will face Brazil tomorrow at 1pm (PST). The GA-team will... http://t.co/4gFNpwUain
MIT Sloan finance professor Andrew Lo applies a hedge fund approach to increasing investment in drug development
Lo does not fault Big Pharma for this dilemma, noting that most large pharmaceutical companies are public companies entrusted with a fiduciary duty to generate returns for shareholders. Nor does he blame venture capitalists, as they are not in business to risk a $30 million investment in one company’s projects. It appeared that neither public nor private equity was the best vehicle to fund biomedical innovation.
The alternative is what Lo and his colleagues at MIT Sloan have devised, a $30 billion megafund to develop drugs treating cancer, and a smaller, less-than-$1 billion investment portfolio targeting orphan drugs. The large amount of the megafund is based on evidence that it requires at least $200 million in out-of-pocket costs to investigate and develop a single therapeutic compound, from beginning to end. For a high rate of success, the fund would need at least 150 of these shots.
The smaller portfolio for orphan diseases recognizes the significantly higher odds of a new orphan drug receiving FDA approval versus those aimed at curing cancer—22 percent versus 6 or 7 percent.
Both portfolio financing strategies are in the proposal stage, and Lo is confident of their eventual success. Until then, his campaign to apply financial tools to curing deadly illnesses continues. It’s worth a shot.
"Now the world must show its colours," Merkel told the fifth informal meeting in Berlin of representatives of 35 countries, which was held to discuss a new climate change treaty.
"Every delay comes at a high cost," she said.
The 750 million euros form part of Germany‘s contribution to build up the green climate fund, which has been set up to help developing nations address climate change. Germany has spent 3.2 billion euros in recent years on efforts to tackle climate change.
"In Germany we are accepting our responsibility," the chancellor told the meeting, which is known as the Petersberg Climate Dialogue and which was created to overcome differences in the international community so that a new accord can be signed by the end of 2015.
The United Nations-sponsored green climate fund hopes to raise up to 100 billion dollars a year by 2020 to help with the promotion of climate-friendly businesses and to boost renewable energy.
Marcin Kolasa (SGH), Giovanni Lombardo, Financial frictions and optimal monetary policy in an open economy, International Journal of Central Banking, 2014, vol. 10(1), pp. 43-94. http://www.ijcb.org/journal/ijcb14q1a2.pdf
Today, Gabriel Madirolas and Gonzalo De Polavieja at the Cajal Institute in Madrid, Spain, say they found a way to analyse the answers from a crowd which allows them to remove this kind of bias and so settle on a wiser answer.
The theory behind their work is straightforward. Their idea is that some people are more strongly influenced by additional information than others who are confident in their own opinion. So identifying these more strongly influenced people and separating them from the independent thinkers creates two different groups. The group of independent thinkers is then more likely to give a wise estimate. Or put another way, ignore the wisdom of the crowd in favour of the wisdom of the confident...
Ref: arxiv.org/abs/1406.7578 : Wisdom of the Confident: Using Social Interactions to Eliminate the Bias in Wisdom of the Crowds
Human groups can perform extraordinary accurate estimations compared to individuals by simply using the mean, median or geometric mean of the individual estimations [Galton 1907, Surowiecki 2005, Page 2008]. However, this is true only for some tasks and in general these collective estimations show strong biases. The method fails also when allowing for social interactions, which makes the collective estimation worse as individuals tend to converge to the biased result [Lorenz et al. 2011]. Here we show that there is a bright side of this apparently negative impact of social interactions into collective intelligence. We found that some individuals resist the social influence and, when using the median of this subgroup, we can eliminate the bias of the wisdom of the full crowd...
Steve Jobs—not a man inclined to hyperbole when asked about the qualities ... Ed Catmull as 'very wise,' 'very self-aware,' 'really thoughtful,' 'really, really smart,'
“The most practical and deep book ever written by a practitioner on the topic of innovation.”—Prof. Gary P. Pisano, Harvard Business School
“Many have attempted to formulate and categorize inspiration and creativity. What Ed Catmull shares instead is his astute experience that creativity isn’t strictly a well of ideas, but an alchemy of people. In Creativity, Inc. Ed reveals, with commonsense specificity and honesty, examples of how not to get in your own way and how to realize a creative coalescence of art, business, and innovation.”—George Lucas
“This is the best book ever written on what it takes to build a creative organization. It is the best because Catmull’s wisdom, modesty, and self-awareness fill every page. He shows how Pixar’s greatness results from connecting the specific little things they do (mostly things that anyone can do in any organization) to the big goal that drives everyone in the company: making films that make them feel proud of one another.”—Robert I. Sutton, Stanford professor and author of The No A**hole Rule and co-author of Scaling Up Excellence