Wharton Professor Talks About the Major Hurdles in Marijuana Legalization
The marijuana industry is on the top of the minds of policymakers across the United States. There are so many things to consider, one of the most critical policies being banking regulation. And with former Republican Speaker of the United States House of Representatives, John Boehner, as a confounding new pro-marijuana spokesman, it seems as if there’s never been a more apt time to discuss marijuana legalization and policy.
That’s why University of Pennsylvania Wharton School professor Peter Conti-Brown dove deep into the marijuana industry to discuss the many policy barriers that are causing issues. In particular, he looked how the government’s current stance on marijuana is causing more trouble than it’s solving when it comes to banking. Continue reading…
Metro News & Notes: The Business of Improv, Souring on Wall Street, and More
Good morning and happy Friday!
Here are a few stories you may have missed from the week that was …
How Improv Methods from Comedy Can Lift Business Performance | Knowledge@Wharton
There aren’t many part-time comedians and business school professors, but Bob Kulhan doesn’t fit the norm. An adjunct professor at both Duke University and the Columbia Business School, Kulhan is the founder and CEO of Business Improv and co-author of the new book “Yes And”: The Art of Business Improvisation. Speaking on the Knowledge@Wharton podcast about his new work, Kulhan talks about his improv-upbringing in the Chicago comedy scene and how it can be applied in a business setting.
When discussing those in business who struggle to think on the fly, Kulhan notes, “There are all sorts of biases that keep us from just communicating with people and keeping an open mind. What we look for in improvisation is a postponement in judgment and the critical thinking to another side so that we can take in and absorb the offers and opportunities that are being presented to us.”
The concept of “Yes And” (the building block of improv comedy structure), Kulhan notes, can help build individual development, which then helps build team development. “When great minds and intelligent people are sharing thoughts … the collective consciousness of the group will outweigh that of any individual,” he says.
Check out the Knowledge@Wharton podcast today.
A Record Percentage of MBAs Don’t Want to Work on Wall Street | Bloomberg
Training the Street, a New York City-based finance training firm, affirmed what many had already begun to suspect: Wall Street jobs are becoming less appealing.
The new survey data found that MBA graduates would like to work at the largest “bulge bracket banks” at the lowest rates in eight years—right after the peak of the economic recession. Scott Rostan, Founder and CEO of Training The Street, said in a release, “Banks are still a dominant hiring force for MBAs and continue to attract top talent, but working for larger, established companies off of Wall Street is becoming more attractive to MBAs as they offer a different type of lifestyle.”
Bloomberg writer Julie Verhage notes that interest in finance is not necessarily disappearing, however. “Other employment options hit record levels of preference this year,” Verhage notes. “Top choices included consulting firms at 20 percent, corporate development at a Fortune 2000 company at 13 percent and boutique banks at 12 percent.”
Find out more about the survey here.
AI Creeps Into the Work of MBA Career Advisers | Financial Times
The AI revolution may be a little less Terminator 2 (so far) than people might have expected, but it’s still changing the MBA game. In a new piece from the Financial Times, writer Jonathan Moules examines several of the world’s top business schools utilizing AI advantages for students, including Vmock, a helpful student résumé assistant created by grads from the Chicago Booth School of Business and Northwestern Kellogg School of Management.
“More than 100 higher education institutions, including 17 of the top 20 business schools on the FT MBA ranking list, pay an annual subscription for Vmock’s software,” Moules writes. The cost to use the program is a modest fee of $19.95, with over one million résumés already uploaded.
Like Vmock, much of the AI-infused technology used in business schools was “born out of a frustration the founders felt as MBA students themselves.” Moules’ sources insist that the infusion of tech will not replace the hands-on help of career advisers, but I doubt many of them are ready for Terminator 2 world either.
Wharton School Examines Effects of Emotional Connection in the Workplace
Sigal Barsade, the University of Pennsylvania’s Wharton School of Business’ Bernstein Professor of Management, specializes in the influence of emotional intelligence within organizations.
Professor Barsade’s recent study on the business outcomes of a ‘compassionate workplace’ was recently mentioned in Inc. magazine.
CEOs of Lucky Brand, Warby Parker, Alice + Olivia and Triumph Motorcycles Are Among Speakers at Knowledge@Wharton’s Retail and Consumer Goods Summit
The Wharton School – University of Pennsylvania announced that Knowledge@Wharton’s Retail and Consumer Goods Summit will feature Wharton faculty and retail and consumer goods practitioners discussing growth strategies at established, emerging and start-up companies. Topics that will be addressed include innovation-fueled growth, digital strategy, assortment variety, disruptive business models, growth-oriented store associate planning, strategic brand extensions, collaborating with finance to achieve high performance, and effective talent management strategies. The conference will feature presentations, fireside chats, panels, and other interactive formats.
The summit is hosted by Knowledge@Wharton, the Wharton School’s online business research and analysis journal, in partnership with Wharton’s Jay H. Baker Retailing Center and Momentum. The NASDAQ and EY are the summit’s founding sponsors.The conference program will be held on April 28-29 at NASDAQ MarketSite and will feature Wharton faculty and retail and consumer goods leaders, including Carlos Alberini, Chief Executive Officer, Lucky Brand, Barry Calpino, Vice President, Breakthrough Innovation, Kraft Foods Group, George Calvert, Chief Supply Chain & R&D Officer, Amway, Vicki Cantrell, Senior Vice President, Communities, and Executive Director of Shop.org, National Retail Federation (NRF), Mukul Pandya, Editor-in-Chief, Knowledge@Wharton,
Mieke van der Loo, Chief Sales Officer, Bugaboo and Patti Williams, Wharton Associate Professor of Marketing
The conference is designed to be a unique learning and networking forum and may be of interest to people in senior-/mid-level positions at retail and consumer goods companies and related industries in a range of functions, including marketing, strategy, merchandising, customer service, sales, digital, IT, and finance. For more information, including details on how to register, please visit http://knowledge.whartonevents.com/growth.
