Author: Olin in the Media

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About Olin in the Media

Posting the latest on Olin student, alumni, faculty, and staff stories from business and news outlets locally, nationally, and around the world.

The below post originally appeared on The Source.

A campus classroom may seem like an odd spot to consider organ donation. But trust Sara Miller when she tells you it is better than a hospital waiting room. That’s where she and her family made the decision eight years ago to donate the liver of Miller’s older sister, Laura, who had been declared brain-dead days after being diagnosed with cancer at age 14.

“The hospital is the worst place to have these discussions,” the senior told classmates during the fall meeting of Student Organ Donation Advocates (SODA). “That’s why I helped create this organization. I wanted to bring light to the importance of organ donation so that when others have to make a decision—whether it’s a yes or a no—they are making it from a point of clarity and education.”

Miller is one of about 300 students who will participate in the December Degree Candidate Recognition Ceremony on Saturday, Dec. 2, in the Athletic Complex. She will graduate with a degree in health-care management from Olin Business School.

Miller arrived at the university eager to join a club that promotes organ donation. When she learned that no such organization existed, she started one herself, with the help of two upperclassmen and the support of the Gephardt Institute for Civic and Community Engagement.

Since then, she has trained 50 volunteers and hosted more than 30 events, including registration drives, conversations with bioethicists, panels with transplant surgeons and events with donors and recipients.

Sara Miller and Trish O’Neill present at a recent Student Organ Donation Advocates (SODA) meeting.

At a meeting this fall, Miller welcomed a very special organ recipient: Trish O’Neill, the schoolteacher who received Laura’s liver. They told students the story of their friendship and dispelled some of the myths surrounding organ donation, such as that certain faiths reject organ donation and that potential donors do not receive the same lifesaving measures as nondonors.

When a classmate asked Miller if her family experienced any unexpected consequences, she did not hesitate.

“The biggest surprise for us is how organ donation has helped us heal and to recover more fully,” Miller told the audience. “And then there is the gift of Trish’s friendship. We like to joke that we would be friends with her even if she didn’t have my sister’s liver.”

After graduation, Miller plans to work in health-care management, where she hopes to focus on the patient experience. Fellow leaders will continue SODA’s mission at Washington University. Miller will stay involved with SODA, too, guiding the expansion of SODA to Marquette University, in her hometown of Milwaukee.

“I am proud that SODA has created a dialogue about organ donation on campus,” Miller said. “I came here knowing this is what I wanted to do. WashU gave me the leadership skills and the support I needed to make it happen.”

Video by Tom Malkowicz




The below post originally appeared on The Source.

Spend $200 on a great Christmas gift at the big box store and get a $50 gift card. Sounds like a great offer. It may, in fact, entice you to spend more than you normally would, warns an Olin Business School marketing expert.

Cynthia Cryder

“Price promotions that feel too good to be true are always an opportunity for consumers to take an extra moment for reflection,” said Cynthia Cryder, associate professor of marketing at Olin Business School. “Instead of thinking about how much money they are ‘saving,’ consumers might want to stop to ask themselves: How much am I actually paying for this product, and am I willing to pay that much?”

Cryder and co-author Andong Cheng, of the University of Delaware, examined the phenomenon of this “mental discounting” in a new paper, “Double Mental Discounting: When a Single Price Promotion Feels Twice as Nice,” accepted in the Journal of Marketing Research.

With certain price promotions, such as a receiving a gift card to spend in the future, consumers mentally deduct the gift card’s value from the initial purchase as well as from the second purchase when they use the gift card. Multiple mental deductions based on a single price promotion result in consumers’ perceptions that their costs feel lower than they actually are, and can increase spending, Cryder said.

“Consider a situation in which a college student purchases a $900 Macbook and receives a $100 gift card to spend in an Apple store in the future,” Cryder and Cheng wrote in the paper. “Feeling confident that she will use the gift card, the student may mentally reduce the laptop cost and think: ‘I am spending only $800 (instead of $900) on this laptop because I am receiving $100 worth of credit back in my pocket.’

“Now imagine that later, the student is back in the store purchasing a $300 iPad. At this point, she applies the $100 gift card, resulting in a final $200 charge for the iPad,” they wrote. “She may think: ‘I am spending only $200 (instead of $300) for this tablet, because my gift card covers some of the cost.’ In total, this consumer has paid $1100 for the laptop and tablet, yet, because she mentally applied the price promotion to both purchases, she may feel as if she paid substantially less.”

According to industry research, Cryder said, businesses will load $14.5 billion onto promotional credit offers in 2017, triple the amount from 10 years ago.

“These promotions create opportunities for retailers, and consumers should carefully consider these offers before taking advantage of them,” Cryder said. “Although consumers might feel like they are spending less, these offers can sometimes encourage them to spend more.”

By Neil Schoenherr, Washington University in St. Louis Public Affairs




Ashley Hardin

How should employees handle personal difficulties in a professional setting? “To disclose or not to disclose” is often the question, and is the crux of Harvard Business Review’s “What to Do When a Personal Crisis Is Hurting Your Professional Life.”

The author, HBR contributing editor Amy Gallo, turns to several organizational behavior experts to answer this question, including Olin Prof. Ashley Hardin:

It’s better to share if you feel OK doing so
If you do feel that it’s safe to share, it’s often better to do so. “We’ve been encouraged to keep the boundaries between private and professional distinct, but that’s not always helpful,” says Anne Kreamer, author of It’s Always Personal. In fact, research by Ashley Hardin, a professor at Washington University’s Olin Business School, shows that when you allow coworkers to discover more about your personal life, they are more motivated to meet your needs. “If the situation is interfering with your ability to complete your job, it’s likely that your coworkers may already realize something is amiss, and in that case you are better off letting them in on what is going on,” Hardin explains. You can also give permission to your close colleagues to share your circumstances with other coworkers if it is too difficult for you to tell them directly. “This type of indirect disclosure can open up a space for your teammates to brainstorm ways to help you,” Hardin adds.

Check out the full post on Harvard Business Review.

[RELATED: How to restore civility to the workplace]




Olin first-year MBA student Ony Mgbeahurike was a member of the winning team in the PepsiCo MBA Invitational Business Case Competition at Texas Christian University earlier this month. Ony’s team competed against students from 14 business schools, including Columbia, Wharton (University of Pennsylvania), and Owen (Vanderbilt University), among others.

The First Place team took home $7,000 for their efforts.

First place team (left to right): Patrick Smith from the University of Maryland, Sara Hartley from the University of Illinois, Jade Manternach from the University of Iowa, and Ony.

The MBA students were assigned to eight mixed teams, each team member from a different school. The teams received the case from PepsiCo Saturday morning and presented their solutions to PepsiCo executives that afternoon. Winning teams were announced at an awards dinner that evening.

#OlinKudos Ony and team!




Ashley E. Hardin, assistant professor of organizational behavior, co-authors a post published on the Harvard Business Review that calls for more compassion in the workplace. The authors advocate for a more compassionate and connected workforce in an age when technology facilitates isolation and discourages civil behavior and interaction.

Restoring compassion to the workplace, the authors suggest, will not only improve the working environment, but it will also have a positive impact on productivity:

“If people feel like they belong and genuinely care about one another, they will be more creative, resilient, and eager to contribute at work.”

Hardin’s coauthors, Monica C. Worline and Jane E. Dutton, are co-founders of the CompassionLab, the world’s leading collaboratory for research on compassion and work organizations. They define compassion this way:

“A 4-part experience of noticing someone’s distress or pain, interpreting it as relevant and important, feeling concern for that person or group, and acting to alleviate their pain.”

Expressing compassion can range from small gestures to heroic acts of generosity and life-saving support in times of need, according to the authors.

Read: “Forming Stronger Bonds with People at Work.”


About Ashley Hardin

Prior to pursuing her PhD and joining Olin, Professor Hardin worked as a Senior Associate Consultant for Bain & Company and the Bridgespan Group.

Her research interests include relationships, affect, work-life boundaries, and unethical behavior. 

 




Olin Business School’s Executive MBA program in partnership with Fudan University in China is number seven in the 2017 Financial Times’ annual ranking of the world’s top 100 EMBA programs.This survey marks the sixth consecutive year that the Olin-Fudan EMBA has been ranked in the FT’s top ten global programs.

Alumni of the Olin-Fudan program reported gains in the important areas of salary increase, career progress, and work experience. Olin-Fudan EMBA graduates are among the top earners of the schools in the ranking with an average salary of $360,250, the third highest globally.

“Olin’s partnership with Fudan University pioneered the executive MBA in China in 2002 and has consistently been a leader,” said Mark Taylor, dean of Olin Business School. “The large number of top American and European business schools that have followed us to Asia in recent years are a testament to our successful program and our outstanding alumni who have propelled their global careers to new heights after earning the Olin-Fudan EMBA degree.”

The Financial Times ranking is based on two surveys: one of business schools and one of their alumni who graduated in 2014. Criteria in 16 categories are weighted for the overall ranking. For more on the FT ranking methodology and details of this year’s survey, link to the Oct. 16 edition of the FT.


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