Contents Warwick Business School at The Shard, London P10 P24 P48 One of the world’s great capitals. One of the world’s elite business schools. High-impact programs for senior executives. P60 From London’s tallest and most iconic building. Doctor of Business Administration (DBA) P16 P62 The DBA offers senior executives a professional doctorate; a Business and Management equivalent to a Doctor of Laws or Medicine. Join an exclusive group of fellow executives at WBS London, as you research, implement and evaluate practical solutions to real organisational challenges. P30 P54 Executive MBA (London) Our Executive MBA program will inspire, engage and challenge you over 24 months as you develop your strategic leadership skills. Take your career to the next level as you apply the latest theories in business and management to your own work. ANALYSIS STRATEGY INSIGHT RESEARCH 8 The genetic make up 24 Design enters 44 A book that 56 Cash reaches Executive Education of an entrepreneur the C-suite inspired me to… vanishing point Are some people How strategists and managers Academics pick the books The proliferation of fintech Our Executive Education programs combine world-class teaching CONTENTS and industry expertise to provide organisations with the tools they pre-disposed to are embracing design that fired their imagination start-ups is changing banking becoming entrepreneurs? need in order to achieve. 29 Five steps 46 City guide 58 The end of capitalism? 10 Putting data Everybody wants creative – Washington DC Uber and Airbnb lead the to good use and innovative staff Find out how to maximise charge to transform society Asking the right questions 30 When the smoke clears your visit to the US capital 60 Can SMS save the NHS? t +44 (0)24 7652 4306 to put today's tsunami How does a company survive How ‘nudges’ could save of digital data to work 48 City guide e [email protected] a scandal? – Beijing healthcare millions of pounds 12 Has the QE 34 Re-building Home to 21 million people, 62 Making sense w wbs.ac.uk/go/core16 experiment worked? Africa’s brand discover where to shop, of ourselves Exploring the consequences A new wave of start-ups where to eat, what to Drama combined of quantitative easing giving the continent see and where to stay with behavioural science a brighter future to produce a new you 16 Moody models 50 Trailblazer Khan Assumptions and pessimism 38 It's more than takes his chance 64 Health stuck could have huge implications just a game Leicestershire CEO Wasim in the slow lane for the planet Could game theory Khan on his debt to an Why new treatments and 19 The skill of using luck help find criminals eagle-eyed teacher and how medicine aren’t reaching Good or bad - underestimate and investment strategies? he raised millions for cricket us fast enough it at your peril 42 Millennials 54 Why I love my job 66 Wild West 22 Dealing tip the scales Hugh Thomas on launching of the internet with destruction Is the nine-to-five coming Ugly Drinks to challenge Hackers are finding new Mergers make some people to an end? A new generation the soft drinks giants with ways to make money out very rich, but are they worth it? want more from work a healthy alternative of the digital world www.wbs.ac.uk | core | 3 Introduction he fourth edition of Core arrives at a time of great P22 P58 change with globalisation Tunder attack and slow growth testing the boundaries of economics – see Has the QE experiment worked? (p12). It may well see some companies go under, others being swallowed up, and some industries disappearing, while others flourish and create new markets with new technology. P46 P34 The end of capitalism? (p58) Welcome to the fourth edition looks at how these new markets of Core and my first as Dean are being established through stuck in the slow lane (p64) digital is not without its security P38 of Warwick Business School. digital technology, with companies we investigate why innovations issues and that is about to become like Uber and Airbnb challenging can take years to trickle down even more complicated with the As Dean of one of the world’s not only whole industries but into frontline practice, while Can advent of the Internet of Things, leading business schools, creating a new sharing economy. SMS save the NHS? (p60) reveals which we explore in the Wild at the heart of a world-class Such disruption could see some the art of nudging people to make West of the internet (p66). university, I am in a privileged companies acquired or merge, better decisions regarding their A different approach to position of being surrounded but in Dealing with destruction own health. investment strategies could by a wonderful breadth and (p22) we find that is rarely a Nudging, based on behavioural emerge from Game Theory depth of academic talent. value-boosting exercise. sciences insights, is cost-effective as explored in It’s more than just Core illustrates that diversity In such turbulent times The skill and highly innovative, something a game (p38). While in Millennials P64 of original thought, and will of using luck (p19) is an intriguing all companies crave, so dip into tip the scales (p42) we investigate provide you with an insight concept; is success more about Five steps to make firms more how a new generation want more INTRODUCTION into some of the impactful being in the right place at the right creative (p29) for inspiration. from work. and cutting edge research time and realising it? Fintech is one of the most creative For career aspiration there undertaken at the school. It is debatable that Volkswagen emerging sectors and is hinting is the journey of Wasim Khan, being embroiled in an emissions at a cashless society, read more CEO of Leicestershire County Our vision is to be the leading scandal was down to bad luck, on it in Cash reaches vanishing Cricket Club, in Trailblazer Khan European based Business School, but we use the German carmaker’s point (p56). While many takes his chance (p50). While with global reach. Harnessing troubles to examine how to re-build entrepreneurs in the sector are fellow WBS alumnus Hugh Thomas, the power of inter-disciplinary a brand in When the smoke clears Putting data to good use (p10), of Ugly Drinks, discusses Why research, working across schools (p30). And it is not only companies Pingit is a prime example of an I love my job (p54). and organisations, we seek to that need to look after their brand, innovative fintech idea and how On the theme of self- address the big, complex issues but countries too as revealed in Barclays produced it is explored, development, we also look P16 P50 facing leaders and managers. Re-building Africa’s brand (p34). and much more, in Design enters at how drama and behavioural Volkswagen’s diesel emissions the C-suite (p24). science have been combined We engage meaningfully with © The University of Warwick 2016. All rights reserved. are contributing to climate change, The tech sector has seen to create a new you in Making Stay in touch with us: Neither this publication nor any part of it may be reproduced, business and government to stored in a retrieval system, or transmitted in any form or by but in Moody models (p16) we a whole host of entrepreneurs, sense of ourselves (p62). any means electronic, mechanical, photocopying, recording create a better society, with our @warwickbschool or otherwise without the prior permission of the department of look at how assumptions have but what is the right stuff when it If all that is not enough, city Warwick Business School at The University of Warwick. Published world-class research running a powerful influence over how comes to making an entrepreneur? guides on Washington DC (p46) by Warwick Business School, The University of Warwick, Coventry, through the core of everything facebook.com/warwickbschool CV4 7AL; email: [email protected]; telephone: +44 (0)24 7652 those in power tackle it. The genetic makeup of an and Beijing (p48) offer some places 4306; website: wbs.ac.uk. Where opinion is expressed it is the we do at WBS. opinion of the author and does not necessarily coincide with As well as affecting the climate, wbs.ac.uk/go/linkedin the views of the publisher or The University of Warwick. All entrepreneur (p8) may have to see and stay and A book that information in this magazine is verified to the best of the author’s Professor Andy Lockett exhaust fumes are an obvious some clues. inspired me to… (p44) gives you and the publisher’s ability. However, Warwick Business School /warwickbschool and The University of Warwick do not accept responsibility Dean of Warwick Business School. health concern, but in Health Of course everything going some more reading material. for any loss arising from reliance on it. Printed by W&G Baird. 4 | core | INSIDE CONTEMPORARY BUSINESS www.wbs.ac.uk | core | 5 Contributors Oliver Balch Anna David Brindle Meg Carter Carly John Colley Kevin Morrell Jonny Paul Mark Ashley Potter Helena Tim Smedley is a UK-based Blackaby is Public Services is a freelance Chynoweth is Professor of is a Professor is a freelance Piesing is a former Pozniak is a management writer and is a freelance Editor of The journalist who is a freelance Practice in Strategy of Strategy journalist and is a freelance journalist for is a freelance and sustainability journalist, business journalist, Guardian. He has writes about journalist who and Leadership and current content writer, journalist writing The Telegraph journalist journalist for the specialising on writing mainly won awards for his all aspects writes about and Associate British Academy recently leaving mostly about and the Press specialising in Financial Times the role of business about innovation, coverage of health, of marketing, business, Dean (Post- Mid-Career Fellow.