Knowledge at Wharton

It’s become an all-too-familiar theme of business articles and books: How dramatic increases in competitiveness innovation deregulation globalization and information intensity have created perpetual uncertainty in everyday managerial life. The solution? Stop acting by the old rules and start thinking with the discipline of habitual entrepreneurs says Wharton management professor Ian MacMillan. MacMillan and co-author Rita McGrath of Columbia University show how this is done in their new book The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty

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Is the lecture hall outdated? Management education needs to be radically rethought for an Internet age becoming more customizable with delivery anytime and anyplace and more applied interactive learning. Two Wharton professors Jerry Wind and David Reibstein discuss a new paradigm for management education facilitated by advances in information technology and how it might be integrated into a decision support system. Wind is also leading the creation of a program that attempts to implement these principles in practice.

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As many companies and individuals have learned the hard way coming up with a new technology doesn’t necessarily mean you will reap the gains from it. What steps can you take to protect your innovation – there are four of them - and how do these strategies work in the brave new world of emerging technologies? Management professor Sidney G. Winter one of the authors of Wharton on Managing Emerging Technologies offers some guidance.

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Internet-based retailers often spend millions of dollars on advertising but how well do they use website log data to track their own performance in turning random browsers into buyers? And buyers into repeat buyers? And repeat buyers into big spenders? Not well at all claims Peter Fader of Wharton’s marketing department. As disturbing signs emerge that online purchasing may be starting to stall Internet-based merchants must do a better job of establishing performance benchmarks and basing marketing strategies on real numbers. They can learn lots of lessons says Fader from the humble grocery store.

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