Insider's Guide: Leonard N. Stern School of Business
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Evolving Ideas About Business Strategy
Pankaj Ghemawat Evolving Ideas about Business Strategy This paper updates an earlier article published in Business History Review that concluded that by the second half of the 1990s, there had been a profusion of new, purportedly practical ideas about strategy, many of which embodied some explicit dynamics. This update provides several indications of a drop- off since then in the rate of development of new ideas about strategy but also a continued focus, in the new ideas that are being developed, on dynamics. And since our stock of dynamic frameworks has, based on one enumeration, more than doubled in the last fifteen to twenty years, updating expands both the need and the empirical basis for some gener- alizations about the types of dynamic strategy frameworks— and strategy frameworks in general—that managers are likely to find helpful versus those that they are not. n 2002, I published an article in the Business History Review, “Com- Ipetition and Business Strategy in Historical Perspective,” that at- tempted to provide an overview of the evolution of practical—rather than academic—ideas about business strategy from the beginnings of the field through the second half of the 1990s. It concluded that, by then, (1) there had been a profusion of new ideas about strategy, which had probably started in the early to mid-1980s, and (2) many of the new ideas embodied some explicit dynamics, compared with the typical- ly timeless or static approaches to strategy that had previously domi- nated the field. The article was, however, qualified in its -
1 Globalization: a Cautionary Tale 1
Notes 1 Globalization: A Cautionary Tale 1 . Trade data from the World Trade Organization, “Statistics: Trade and Tariff Data,” https://www.wto.org/english/res_e/statis_e/statis_e.htm (accessed May 11, 2015). Investment data from United Nations Conference on Trade and Development “FDI Flows and Stocks,” http://unctad.org/en/Pages/DIAE/FDI%20Statistics/FDI-Statistics. aspx (accessed May 11, 2015). 2 . The World Bank http://www.worldbank.org/en/topic/poverty (accessed May 11, 2015). 3 . See the case study, W. J. Henisz and B. A. Zelner, “AES-Telasi: Power Trip or Power Play?” (The Wharton School, 2006); or Paul Devlin’s film Power Trip (2003), for more in-depth coverage of AES and its failed entry to Georgia. 4. I explain some of the specific issues that IKEA faced in Russia, along with more gen- eral issues that similar companies face in emerging markets, in a blog post. See R. Salomon, “So You Want to Do Business In a Developing Country?” September 15, 2009, http://www.robertsalomon.com/so-you-want-to-do-business-in-a-developing-country / (accessed May 11, 2015). 5 . See “Tesco Plans Foray into US Market,” BBC News , February 9, 2006, http://news.bbc. co.uk/2/hi/business/4695890.stm (accessed June 24, 2015). 6 . In June 2007 I wrote a blog post forecasting that, given its strategy, Tesco would have trouble entering the US market. See R. Salomon, “Tesco’s American Foray,” June 27, 2007, http://www.robertsalomon.com/2007/06/ (accessed May 11, 2015). In March 2008, it was clear that many of those predictions had come true; Tesco failed to make a profit in the US market and exited a short time later. -
MANAGING the CARE of HEALTH and '11:11; CURE of DISEASE Part I: Differentiation
MANAGING THE CARE OF HEALTH AND '11:11; CURE OF DISEASE Part I: Differentiation by S. GLOUBERMAN and H. MINTZBERG 98/49/SM * Faculty of Medicine, University of Toronto, Sunnybrook Health Sciences Centre, Baycrest Centre for Geriatric Care, Toronto, Canada, and King Edward's Hospital Fund, London. ** Faculty of Management, McGill University, 1001 Sherbrooke St. W., Montreal Quebec H3A 1G5 and Professor of Organisation at INSEAD, Boulevard de Constance, 77305 Fontainebleau Cedex, France. A working paper in the INSEAD Working Paper Series is intended as a means whereby a faculty researcher's thoughts and findings may be communicated to interested readers. The paper should be considered preliminary in nature and may require revision. Printed at INSEAD, Fontainebleau, France. Managing the Care of Health and the Cure of Disease Part I: Differentiation by Sholom Glouberman and Henry Mintzberg Sholom Glouberman Henry Mintzberg Faculty of Medicine, Faculty of Management, University of Toronto, McGill University Sunnybrook Health 1001 Sherbrooke St. W. Sciences Centre Montreal, Quebec H3A 1 G5 and Baycrest Centre for Geriatric Care, Toronto January 1996 4/. This paper is based on a variety of small research interventions, including observation of a range of health care managers, from the chief executive of the National Health Service in England to practicing clinical directors, and a series of seminars conducted with the support of the King Edward's Hospital Fund for London. Our deep appreciation goes to the many thoughtful people in the English system, including those of the King's Fund College, who participated in these experiences. 1 Why are the so-called systems of health care so notoriously difficult to manage? No country appears to be satisfied with the current state of its system; almost everywhere reforms are being contemplated, organized, or implemented, some in direct contradiction to others. -
Weekend Trips
Activity Calendar - September 2019 You must sign up for all activities www.studyquest.net/studentarea.htm Day Date Name Description Cost Meeting place Mon 2 The Rec Room redefines the meaning of fun with over 40,000 sq. feet of great games, Wed 4 Arcade Games at Rec Room PYOW Quest Lounge @ 4:00PM mouth-watering eats and amazing entertainment Toronto International Film Let’s be part of the Opening day of the TIFF. We will stroll around the Toronto's Thur 5 FREE Quest Lounge @5PM Festival (TIFF) theatre district to spot famous actors! The whole day live performances welcomed more than 40 Chinese and Canadian Fri 6 Toronto Dragon Festival FREE Quest Lounge @3PM performing arts groups. Dragons, drums, acrobatics, King Fu and much more. It's independence day in Brazil and we are going to celebrate this date in a party with Sat 7 Brazilian Day Party $20 St Andrew Station @9PM Live Brazilian Carnaval drums and samba dancers Try Toronto’s best and unique veg products from over 160 vendors. The Veg Food Sun 8 Veg Food Fest FREE Union Station @1PM Fest is North America’s largest celebration of all things veg. A Toronto's washroom-themed restaurant. This place offers a generous range of Tues 10 Poop Café PYOW Quest Lounge @ 4:00PM various Asian desserts, from Thai rolled ice cream to Hong Kong egg waffles. Her Chef restaurant is a friendly neighbourhood fast-casual place specialize in rice Wed 11 Asian Fusion restaurant PYOW Bathurst Station @5:45PM box. The real-world games imprison participants in a room and force them to hunt for Thur 12 Escape Room $40 Quest Lounge @4:40PM clues around the game environment. -
Applied Corporate Finance Real Companies, Real Data, Real Time Aswath Damodaran
Applied Corporate Finance Real Companies, Real Data, Real Time Aswath Damodaran Thursday – Friday, 13 – 14 August 2015 9 am – 5.30 pm (Registration starts at 8 am) Early bird saves Grand Ballroom Hotel Indonesia Kempinski IDR 3,000,000! Jalan M.H. Thamrin No.1 (Enter via West Mall Grand Indonesia) (*) Participant Fee: IDR 23,000,000 (exclusive VAT) Get a Certificate signed by Aswath Damodaran Secure your seats now before they are sold out! Email your registration form before 3 August 2015 to [email protected] or fax it to +6221 29928200/29928300 (*)Early Bird offer expires on 29 June 2015 Content This 2-day applied corporate finance seminar will cover the following sessions: • discuss different interests that make up the modern corporation and their different objectives, potential conflict and problems, how to convert a risk measure into a hurdle rate, and examine the cost of debt and resulting cost of capital • cover investment analysis – consider what a project is and how to estimate project cash flows, and examine different decision rules for determining a good or acceptable investment • evaluate financing choices made by a firm – how much to borrow, types of financing, approaches to coming up with optimal debt ratio • examine how much firms pay in dividends and whether they should pay more or less • explore determinants of intrinsic value in a company and what managers can do to enhance value Objective The objective of this seminar is provide participants with tools and techniques that have been developed in theory to answer corporate finance questions, and how best to apply them in practice. -
Fall 2011 Gazette
GAZETTE A Publication for EurAupair Program Participants and Friends Around the World! Fall 2011 • Volume 50 INSIDE THIS ISSUE Thanksgiving Dinner • Surfing in the Atlantic Ocean • EurAupair Cultural Events in February • Halloween is Fun! Crowned Miss Brazilian By EurAupair Au Pair Céline Dietrich from France • Day 2011 Céline Dietrich from France, the atmosphere and the kindness of and More! EurAupair au pair with the Bozniak/ the people with whom I spend this • Stronach family of Washington, DC, beautiful day. I took it as a good is a big fan of American Thanksgiving sign for the year that I will spend celebrations: with them and I was right - I had a “My name is Céline, I am French beautiful year. About Us... and I celebrate this month my first Because I had such a great day, EurAupair Intercultural Child Care year in the United States. I am living when in February my 25th birthday Programs is a non-profit, public benefit organization designated by the U.S. with a wonderful host family in came, I asked my host family to have Department of State to conduct the Washington, D.C. I extended my a birthday like Thanksgiving dinner Au Pair cultural exchange program experience, so I will stay six more with the turkey, the macaroni and under the Fulbright Hays Mutual Educational and Cultural Exchange Act months here with them. Maybe it’s cheese, and all the other typical side of 1961 and is intended “to promote because of the color of fall that I dishes. My family from France was mutual understanding between the people of the United States and other am thinking about it, but my best visiting me, so it was the occasion countries by means of educational and memory here as an au pair was for them to try the famous dish and cultural exchanges”. -
Valuation Insights: Equity Risk Premium (ERP) for Indian Market
Valuation Insights: Equity Risk Premium (ERP) for Indian Market October 2015 Authored by – Manish Saxena, assisted by Saatvik Sharma 11 1 Contents Context 3 Approach and Methodology 6 Sources and References 13 © Grant Thornton India LLP. All rights reserved. Member firm of Grant Thornton International Ltd Offices in Bengaluru, Chandigarh, Chennai, Gurgaon, Hyderabad, Kolkata, Mumbai, New Delhi and Pune Section 1 Context 1. Context 2. Approach and Methodology 3 1.1 Introduction The Capital Asset Pricing Model (CAPM) is the most widely used tool in estimating the expected rate of return on a particular asset keeping in mind a rational investor’s risk-return trade-off. The theory propounds that rational investors would expect a minimum return over and above the prevailing risk- free rate in the market adjusted for a systematic risk factor called beta. This excess return is called the Equity Risk Premium (ERP) and is mathematically computed as the excess return generated by the market over and above the risk free rate. Theoretically, market return is defined as the return on a portfolio of risky assets. In practice, when using the CAPM to compute the value of an equity share in a business, the market return would be the return on the most suitable stock market. 1.2 Significance of ERP The following is a brief snapshot of how ERP impacts various investment and policy decisions: • In corporate finance, to determine the costs of equity and capital for firms, optimise debt to equity ratios, and decide upon investment, buyback policies etc. • In corporate valuation, as one of the key inputs that determine the present value of future cash flows • ERP also impacts saving decisions and the amount that needs to be put aside for retirement or healthcare as well as allocation of wealth to different asset classes. -
The Illusive Strategy ...25 Years Later
THE ILLUSIVE STRATEGY ...25 YEARS LATER by Henry Mintzberg Published in 1993 in Arthur Bedeian Management Laureates: A Collection of Autobiographical Essays (JAI Press, Volume I) Courtesy of Elsevier Science (http://www.elsevier.com). This document may be used for personal research. Admonitions I was going to close this piece with the advice to the young scholar that you should always take your work seriously but never yourself. I put it here instead to express my apprehensions in doing this. I think it is useful to have on record comments on how careers that were lucky enough to emerge successfully unfolded, but there is the danger that the person in question will be taken, and will take him or herself, too seriously. To have succeeded in studying something or other has never made anyone intrinsically interesting; indeed I find some of my successful colleagues terrible bores. In line with this, I try here to avoid discussing my private life. That is my own business; the issue in question is my working life. But because the two are obviously intertwined, I would like to make a single comment here about them. When I wrote on the back cover of Mintzberg on Management: Inside Our Strange World of Organizations (1989a1) that it "is written for those of us who spend our public lives dealing with organizations and our private lives escaping from them," I was not joking. That, if anything, has characterized much of my behavior. I am intrigued by organizations; all my work has set out to understand them. But when I play, I distance myself from them as far as possible. -
Sept 27 @ 7:30 PM the Beacon Theatre P. 7
NEW YORK | SEPTEMBER 1 2017 | BRAZILIAN MUSIC FOUNDATION | ASUOS | EDITION#3 SEU JORGE Sept 27 @ 7:30 PM The Beacon Theatre P. 7 A TRIBUTE TO DAVID BOWIE EDITOR’S NOTE Dear friends, On September 7th we will be celebrating 195 years of Brazilian freedom, Independence Day, with lots of fanfare and excitement. “Brazil’s Independence was officially announced on the 7th of September 1822 from the hands of the Portuguese. Since then it has been a country. For ages Brazil has represented the great escape to a prehistoric, tropical heaven, igniting the Western imagination like no other South American country. Brazil had its unique attributes including having had a reigning monarch and an empire that boasts of a relatively bloodless independence from Portugal. Brazilians did not have to fight tooth and nail nor did they create any type revolt. The King himself declared in the Grito do Ipiranga, "By my blood, by my honor, and by God: I will make Brazil free" with the motto "Independence or Death!" Every year, thousands get together in a mad passion to proudly celebrate Brazilian Independence Day. A country of mythic proportions, people gather in the streets celebrating with banners, balloons and streamers. For those that do not know anything about Brazilian culture, here is an opportunity to go to one of the events, get in the green and yellow mood, and see the richness of Brazilian art and hear the variety of sounds, rhythms and styles that exist in our repertoire. Furthermore, I hope you just enjoy the magazine in general and support Brazilian Music Foundation’s mission, which is to promote, educate and advance Brazilian Music in the Americas. -
Decision Document City Council
2010-05-11 Decision Document - City Council http://www.toronto.ca/legdocs/mmis/2010/cc/decisions/2010-05-11-cc4... Decision Document City Council Meeting No. 49 Contact Marilyn Toft, Manager Meeting Date Tuesday, May 11, 2010 Phone 416-392-7032 Wednesday, May 12, 2010 Start Time 9:30 AM E-mail [email protected] Location Council Chamber, City Hall The Decision Document is for preliminary reference purposes only. Please refer to the Council Minutes for the official record of Council's proceedings. Routine Matters - Meeting 49 RM49.1 Presentation Received Ward: All Moment of Silence City Council Decision May 11, 2010 Members of Council observed a moment of silence and remembered the following persons who passed away: Florence Honderich Louis (Lou) Lockyer, and Carlo Varone May 12, 2010 Members of Council observed a moment of silence and remembered the following person who passed away: Fred Foster Background Information (City Council) Condolence Motion for Florence Honderich (http://www.toronto.ca/legdocs/mmis/2010/rm/bgrd/backgroundfile-30358.pdf ) Condolence Motion for Louis (Lou) Lockyer (http://www.toronto.ca/legdocs/mmis/2010/rm/bgrd/backgroundfile-30359.pdf ) Condolence Motion for Carlo Varone (http://www.toronto.ca/legdocs/mmis/2010/rm/bgrd/backgroundfile-30360.pdf ) Condolence Motion for Fred Foster (http://www.toronto.ca/legdocs/mmis/2010/rm/bgrd/backgroundfile-30361.pdf ) 1 of 162 6/18/2010 11:57 PM 2010-05-11 Decision Document - City Council http://www.toronto.ca/legdocs/mmis/2010/cc/decisions/2010-05-11-cc4... RM49.2 ACTION Adopted Ward: All Confirmation of Minutes City Council Decision City Council confirmed the Minutes of Council from the regular meeting held on March 31 and April 1, 2010, and the special meeting held on April 15, 2010, in the form supplied to the Members. -
Aswath Damodaran
FM_p.i-xviii.qxd 2/4/12 5:00 AM Page i FM_p.i-xviii.qxd 2/4/12 5:00 AM Page i Investment Valuation FM_p.i-xviii.qxd 2/4/12 5:00 AM Page ii Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia, and Asia, Wiley is glob- ally committed to developing and marketing print and electronic products and services for our customers’ professional and personal knowledge and understanding. The Wiley Finance series contains books written specifically for finance and investment professionals as well as sophisticated individual investors and their financial advisors. Book topics range from portfolio management to e-commerce, risk management, financial engineering, valuation, and financial instrument analysis, as well as much more. For a list of available titles, please visit our Web site at www.WileyFinance.com. FM_p.i-xviii.qxd 2/4/12 5:00 AM Page iii Investment Valuation Tools and Techniques for Determining the Value of Any Asset Third Edition ASWATH DAMODARAN www.damodaran.com WILEY John Wiley & Sons, Inc. FM_p.i-xviii.qxd 2/16/12 9:11 AM Page iv Copyright © 2012 by Aswath Damodaran. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the Web at www.copyright.com. -
Contemporary French Farmers Unions at the Age of Uncertainty Eric Doidy, François Purseigle
Troubled rootedness : contemporary French farmers unions at the age of uncertainty Eric Doidy, François Purseigle To cite this version: Eric Doidy, François Purseigle. Troubled rootedness : contemporary French farmers unions at the age of uncertainty. 8. Annual Conference of the European Sociological Association. Conflict, Citizenship and Civil Society, Sep 2007, Glasgow, United Kingdom. hal-02753714 HAL Id: hal-02753714 https://hal.inrae.fr/hal-02753714 Submitted on 3 Jun 2020 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. Conflict, Citizenship and Civil Society Theme of the Conference Europe is experiencing extensive transformations that disturb traditional political institutions and explode periodically into deep conflict. Political interpretation of these events is contested and reasons 'traditional' and 'new' vie for explanatory efficacy. Conflicts associated with migration, generation, gender, precarious labour, urban tension and cultural and religious intolerance are spliced by inequality, discrimination, poverty and exclusion thus complicating