WHARTON MAGAZINE NEWS IDEAS PEOPLE Shark Tank Penn The Power Auditions Wharton of Age 22 26 Budget Model 50 Can Leadership Be Learned? ANNE AND JOHN MCNULTY’S INNOVATIVE PROGRAM WORKS TO MAKE THE ANSWER A PROFOUND YES FALL 2016 WHAT I DO AT BCG A BCG Story by Taylor / Principal, New Jersey Bring innovative ideas and entrepreneurial Lead the BCG soccer spirit to every new case team to another undefeated season Help our clients tackle their most challenging and complex issues Learn and grow by working with partners and teammates Apply my skills and passion to challenging problems with signifi cant impact Ready to make the move into consulting? BCG hires experienced professionals at all levels. Apply now: apply.bcg.com/WhartonMagazine The Boston Consulting Group is an equal opportunity employer. All qualifi ed applicants will receive consideration for employment without regard to race, color, age, religion, sex, sexual orientation, gender identity / expression, national origin, disability, protected veteran status, or any other characteristic protected under applicable law. EXECUTIVE EDUCATION perspective noun \pər∙`spek∙tiv\ “ at eye-opening moment when I saw things di erently—the challenges became more de ned, the solutions more clear.” upcoming leadership programs: Defi ne your Wharton moment. Leading Organizational Change dec. 5–8, 2016 • mar. 20–23, 2017 What kind of leader are you? Uncover your most e ective Executive Negotiation Workshop leadership style with Wharton Executive Education’s feb. 27–mar. 3, 2017 Leadership Programs. You’ll explore proven strategies and innovative approaches from the world’s top business leaders. Leading and Managing People And you’ll learn exactly what it takes to motivate and move mar. 13–17, 2017 your organization forward. It’s time to inspire. Women’s Executive Leadership apr. 24–28, 2017 execed.wharton.upenn.edu/lead The Leadership Journey may 1–5, 2017 WhExecEd_WhMag-Fall16_Moment-LEAD2.indd 1 9/16/16 4:16 PM THE WHARTON FUND is vital in maintaining the excellence of the School and in reaching new frontiers in business education. We put your gift to work every day to educate and empower the best minds in business and to realize Wharton’s full potential for the 21st century. EMERGING PRIORITIES YOUR GIFT SUPPORTS... • DATA AND ANALYTICS • ENTREPRENEURSHIP ALUMNI ENGAGEMENT AND INNOVATION • ALTERNATIVE CLASSROOM INNOVATION INVESTMENTS THE WHARTON GLOBAL INITIATIVES FUND GIFTS LIFELONG LEARNING RESEARCH REVENUE STUDENT PROGRAMS STRATEGIC PRIORITIES WHARTON.UPENN.EDU/GIVING Make your gift online or call +1.800.400.2948. WORLD-RENOWNED FACULTY WHARTON FUND GIVING BENJAMIN FRANKLIN SOCIETY MEMBERS 9,108 DONORS 1,343 1,302 MEMBERS MEMBERS 8,484 DONORS 8,447 DONORS FY15 FY16 FY17 The Benjamin Franklin Society is the University’s leadership annual giving circle starting at $2,500. YOUNG FRANKLIN MEMBERS CAN FY14 FY15 FY16 FY17 JOIN WITH A GIFT OF $1,000. THE WHARTON FUND Creating and sustaining a culture of giving back WhartonFund_Fall2016.indd 1 9/23/2016 2:18:29 PM from the dean the skyrocketing demand for the new field of busi- ness analytics, which we incorporated into both the Wharton’s undergraduate and the MBA curricula last year. That’s why Wharton’s Lifelong Learning initia- ↓ Essential Role tive is so important, not only for our alumni but for Dean Garrett's all of those who want to invest in their continuous priorities for Wharton Online: professional development, training and re-skilling. access for in Turbulent Wharton Executive Education adds value to nearly all to quality non-degree 10,000 executives who come to campus for short education, Global Times programs every year. Wharton Online can reach "higher touch" exponentially more people. courses for smaller learner It’s easy for critics to point to business schools as groups and part of the problem when it comes to the challenges enhancing the we face. But I believe profoundly that schools like on-campus classroom Wharton have a vital role to play in driving produc- experience. he year 2016 has been a big wake-up tive solutions. That’s why I come to work fired up call for me, as I suspect it’s been for some every day, and that’s why I couldn’t be prouder to of you, too. I’ve always believed global- have you as such strong supporters of all ization and technology are forces for that we do. good. But from the supporters of Donald Trump and Bernie Sanders to Brexit and Geoffrey Garrett is Dean and the crackdown in Turkey, lots of people are reacting Reliance Professor of Management Tto the frenetic pace of change and their feelings of and Private Enterprise at the loss of control by implicitly saying “Stop the world, Wharton School of the University I want to get off.” of Pennsylvania. I am not an economic determinist, but I do think much of this political populism has deep structural roots. Put simply, we are living in an era of low economic growth, and the benefits of the growth that is taking place aren’t spread very broadly. In an eye-catching headline, McKinsey estimates that about two-thirds of the people in the U.S. and the Western world have suffered from declining real incomes or saw no growth in the past decade. No wonder people are unhappy with their leaders. But I’m also a realistic optimist. There is a path to stronger and more inclusive economic growth. And I believe business schools like Wharton have a critical role to play. Job one is to increase growth. Wharton people know better than anyone how important finance is to matching money with opportunity, and that’s never been more true than in the burgeoning field of alternative investments. But innovation, entre- preneurship and technology are increasingly important to all we do. The Mack Institute is doing cutting-edge research on how to promote produc- tive innovation in big and mature organizations, while Wharton Entrepreneurship’s principal objective is to develop entrepreneurial mind-sets and skills among our students. Then comes the equally challenging task of mak- ing growth more inclusive. It’s no surprise that I believe education has a key role to play. I could not be prouder of the world-class education we provide all our degree students on campus. But the skills needed to thrive in the business world continue to change more rapidly than ever before. Just think of Contents Fall 2016 26 feature news Policy 1 Playground Danielle Roth “ Leadership development 13 is an art that can be indicators Top of the Class pursued.” The success of Mike Useem, director of Wharton’s Center for Leadership Wharton’s ’15 and Change Management, p.17 undergrad alumni. 14 regions Wharton’s Global Impact 16 ideas cover story 2 Leadership Without Limits Inside the McNulty Leadership Program. 30 35 Jay Heinrichs essay syllabus Leaning Up Marketing The need for Through women in tech. Darwinism 22 Heather Zynczak A short course essay 39 Shark Attack on adaptation to change. k@w essay Reality show The Genius auditions come 32 of Trying to campus. whiteboard Things Out Louis Greenstein At the 36 Whiteboard excerpt With 40 The Importance k@w the case Mauro Guillén of Being Louis Greenstein Mission: Authentic Unlock Yahoo’s Making a business “Hidden Value” case for staying true to yourself. Henna Inam 43 k@w the deck Good for Your Health: Behavioral Economics “ Global consumer 44 markets will change so k@w data much that by 2030, you 46 won’t recognize them.” k@w q&a 8 Mauro Guillén, professor of The Problem watchlist international management With Job Sofas, Sneakers Performance Quodt WG15 and Wichert WG15 and director of the Lauder and Snakebites Institute, p. 32 Appraisals graham james people 3 WHARTON MAGAZINE Editorial Staff editor Richard Rys class notes editor Leigh Sacco FAROUQ SULTAN WG73 editorial board Peter Cappelli Jonathan Katzenbach Peggy Bishop Lane JIM ROWBOTHAM Jagmohan Raju Maryellen Reilly Catherine Schrand WG69 SISTER DOROTHY Jerry Steinbrink creative services Justin Flax MCCORMICK WG66 design Pentagram student interns ALAIN LEVY WG72 Sara Albert Janie Kim Administration MYRON WEINER WG51 Geoffrey Garrett Dean and Reliance Professor of Management and Private LUCINDA KASPERSON Enterprise Sam Lundquist Vice Dean, External Affairs WG53 TOM HADLOCK Katherine A. Primus Executive Director, 50 Communications & Stewardship WG66 JOHN feature Wharton Magazine The Power vol. 22 edition 3 of Age Wharton Magazine is published Jim Collins semi-annually by Wharton TEELING WG69 External Affairs, 344 Vance Hall, 3733 Spruce Street, 62 cover Philadelphia, PA 19104-6360 view from illustration: Michelle 59 locust walk Change of Address pivot This Thompson online The Call of Unmessable WhartonConnect.com the Classroom Life One grad’s return Makena Finger mail to academia. Wharton Magazine Amit Attn: Alumni Address Update Bhattacharjee 64 cohort Wharton External Affairs Change Agents 344 Vance Hall Lesley Meng 3733 Spruce Street 60 Philadelphia, PA 19104-6360 essay 96 telephone: +1-215-746-6509 A Sister’s correlation Crusade “ I think age fax: +1-215-898-2695 Fighting juvenile makes one more 69 email: magazine@wharton. diabetes in Africa. Class upenn.edu Vivian Nabeta comfortable with risk.” Notes Advertising Inquiries John Teeling WG69, [email protected] p. 50 ENDOW A SCHOLARSHIP MAKE A LASTING IMPACT ON THE WORLD’S FUTURE LEADERS. Coming to Penn has been Kayvon's lifelong dream. His talents and the support of Named Scholarships have propelled him toward achieving his goals. An entrepreneur musician, Kayvon has already etched out a name for himself on campus and beyond—even performing in front of the UN General Assembly—and is looking to apply his Wharton education to enhance his MY SCHOLARSHIPS HAVE BEEN brand in the ever-changing music field.