In the newly published paper “The Impact of Local Demand on Innovation,” L.G. Thomas, professor of organization and management at Emory University's Goizueta Business School, and Kira Fabrizio of Duke University examine the global pharmaceutical industry and find that superior knowledge of demand can explain why certain countries tend to dominate in innovation in different categories of medicines. The duo say this clustering phenomenon is global and note, "knowledge about market size and valued product characteristics can be tacit in much the same way that technical knowledge can be tacit. The result is a competitive advantage associated with location that is separable from the benefits associated with geographically mediated technology spillovers.” Industry Experts Tackle Challenges in the Mobile Apps Space
According to the research firm Aarkstore Enterprise, the nascent but burgeoning mobile applications market is estimated to be worth $25 billion by 2015. To better understand this evolving technology, Emory University began offering a new course this fall entitled “An App for That: Designing the Small and the Many." To launch the class, Benn Konsynski, a chaired professor of information systems and operations management at Emory's Goizueta Business School, invited a panel of industry experts to discuss the opportunities and challenges in the mobile app space. Lighting and Imagination: One Man’s Road to Success
In the soon-to-be-released memoir Lighting the Way: The Story of Georgia Lighting Company, Harry Gilham details his journey from military service and business studies at Emory University to founding and leading Georgia Lighting for 40 years, during which it became the second largest lighting company in the U.S. An early bird in global business, Gilham offers entrepreneurs plenty of tips to satisfy, including an inside look at selling his firm and then watching it dissolve under its new owners. Startups: Threats to Legacy Companies, or Opportunities?
The anemic US job market is causing a proliferation of small startup enterprises. These lean, nimble firms can capitalize on opportunities and take more risk than their larger, more established counterparts. But does the constant stream of market newcomers represent opportunities or threats to bigger companies with longer histories and more to lose? According to faculty from Emory University’s Goizueta School of Business and the Emory University School of Law, newcomers and legacy firms can actually benefit from each other. The key to such big-small partnerships, they say, is not to discount the qualities that brought you together in the first place. Is Now the Right Time to Become an Entrepreneur?
As the percentage of Americans seeking employment remains in the double digits and as unemployment checks dry up, some enterprising individuals are taking their skills and starting new businesses. Is this trend merely a stop-gap measure or is entrepreneurship the new normal? Serial entrepreneur and author Charles Goetz, a senior lecturer of organization and management and a distinguished lecturer in entrepreneurship at Emory University's Goizueta Business School, spoke with Knowledge@Emory about the risks, rewards, and psychological challenges of launching a startup. Quebec's Pierre Arcand on Transatlantic Relations and Innovation
International trade agreements between Canada and the European Union could pave the way for similar negotiations between the U.S. and the EU, says Quebec’s international relations minister, Pierre Arcand, speaking as part of a panel discussion on transatlantic relations at Emory University’s Goizueta Business School. In an interview with Knowledge@Emory, Arcand expands on this theme and details how his business background has helped him in government. Kaneva CEO Christopher Klaus on Why It's an
Christopher Klaus, founder & CEO of Kaneva, told an audience of BBA students that despite the gloom and doom they may hear, “It’s a pretty amazing time to be an entrepreneur.” Given ever-expanding Internet access to potential customers and business partners, he believes “there are thousands of opportunities if you have the right skill sets to pursue them.” The keynote speaker at Emory University's Goizueta Business School’s 11th annual Undergraduate Business School Leadership Conference (UBSLC), Klaus predicts major paradigm shifts ahead, including the use of gaming technology to enhance education by taking a "boring subject and transforming it into a fun video game," participatory marketing and branding in virtual worlds, and the rising demand for technologically savvy leaders with global perspectives. Uncovering the Mental Traps and Treasures of Entrepreneurship
In So You Want to Start a Business?, author Charles F. Goetz, a senior lecturer in organization & management and a distinguished lecturer in entrepreneurship at Emory University’s Goizueta Business School, offers a no-nonsense litmus test on whether an idea presents a worthy business opportunity or should be pitched in the dumpster. Co-written with Edward D. Hess, professor of business administration and Batten Executive-in-Residence at the University of Virginia, the book also gives sage advice for those business owners who are struggling, but eager to set things right. Understanding the Innovative Power of Play
In the new book The Red Rubber Ball at Work: Elevate Your Game Through the Hidden Power of Play, author and consultant Kevin Carroll discusses the innovative power behind play. In a recent interview with Goizueta Business School's Knowledge@Emory, Carroll notes that what we learn in childhood—to be spontaneous, resourceful and full of imagination—offers us lifelong lessons for creativity and problem solving at work. Why Innovation Will Revive the Tech Sector
With estimates of more than 300,000 jobs lost in the tech industry, will innovation suffer? According to faculty at Emory University's Goizueta Business School the recession's impact on the industry will be painful in the short-term, but will produce the type of innovative products consumers have come to depend on. The difference, faculty experts say, is that entrepreneurs and upstarts will likely overtake better known stalwarts of the industry. Malcolm Gladwell’s Latest Tome Delves into the Hidden Causes of Success
In the new book Outliers: The Story of Success, bestselling author Malcolm Gladwell, well known for his top selling tomes The Tipping Point and Blink, doesn’t dispute the role of smarts, talent and drive in making the most extraordinary and successful people stand out from the pack. Instead, the author contends that people underestimate the more overwhelming role of hidden advantage--those things the individual has nothing to do with, such as year of birth, family connections, access to resources and special training--in making software billionaires, leading entrepreneurs, and world renowned musicians tops in their given field. Emory’s Clifton Partnership Aids Business, Community, and the Environment
At a time when high energy costs and a crumbled credit market are spurring local, state and federal governments to tighten their belts in a bid to contain costs, a unique partnership between Emory University and the surrounding Atlanta neighborhood promises to have a positive impact on the school, the community, and the environment. In the Mood: Exploring Managerial Creativity and Intuition as Sources of Competitive Advantage
Many factors drive a company’s performance, not the least of which are entrepreneurial creativity and managerial effectiveness. In two papers recently presented at the fifth annual Atlanta Competitive Advantage Conference (ACAC) at Emory University’s Goizueta Business School, U.S. and Australian faculty presented their research on the effects of group mood and managerial mental models on creative and structural dynamics, offering strategies for enhanced business success. Among the findings? Managerial creativity and intuition are not easily copied and thus provide a distinct source of competitive advantage. Why Innovation and a Customer Focus Can Drive Revenue and Profits
“All too often, managers decide on a business strategy—what markets to pursue and what products to make—then turn to innovation to support it. This is the wrong way around,” contends A.G. Lafley, the chairman and CEO of Procter & Gamble. “Innovation needs to be put at the center of the business in order to choose the right goals and business strategy and make how-to-win choices.” Lafley, along with business consultant and best-selling author Ram Charan, expound on this theme in their new book The Game-Changer: How You Can Drive Revenue and Profit Growth with Innovation. The book offers insights from Charan’s work with business clients and highlights P&G’s turnaround and the customer-is boss focus that Lafley stresses helped turn the consumer marketing giant around. Placing the consumer at the center “delivers sustained organic growth and profits,” the authors assert. Will High Gasoline Prices Spur Innovation?
With oil now at $124 a barrel and the average price of a gallon of gas $3.65, frustrated American consumers are looking for answers. As the political candidates scramble for solutions, Ray Hill, an adjunct professor of finance at Emory University’s Goizueta Business School, takes a less alarmist view of higher oil prices. Hill, who holds a doctorate in economics from MIT and spent ten years as CFO of Mirant Corporation, an Atlanta-based U.S. electricity supplier, has seen prices shift before and believes that market forces, rather than price caps or mandated investments in alternative energy sources, will produce the most beneficial results.