Tag: Faculty



Before the food truck phenomenon, there were food carts. You can still see them on many corners in New York City. Now, try to imagine Dean Mark Taylor, as a teenager, outside a stadium in England hawking hot dogs to hungry football fans. We realize it may not be the most glamorous first job (few are), but Dean Taylor tells Poets & Quants that the experience probably inspired his career in business and finance. Here’s the dean’s description of his first foray into commerce:

Mark P. Taylor, Dean of Olin Business School.
James Byard / WUSTL Photos

“During my teenage years in England, I used to sell hot dogs on the weekend from a street cart outside pubs and outside the local stadium during soccer matches. I worked on a commission of twenty percent of the gross takings, but I figured out that the overall margin was probably two or three times that. I was always among the top sellers, so I tried to negotiate a pay raise with my employer but they did not want to pay me more because they would have had to pay all of the other hot dog sellers more. Quite rightly, they pointed out that while I was selling more on average, I was getting twenty percent of that extra amount, so I was already being rewarded for exceptional performance.

“Nevertheless, perhaps a little arrogantly, I accepted a job with higher commission at a new, rival company. However, the new market entrant did not have the top locations for their carts and overall sales were lower, leading to a lower sales commission. I was forced to go back to my original employer and ask for my old job back. However, when I did, I suggested that I could train some of the other sales people and help with accounting, to save the owner time at the end of a shift. My business takeaways from this experience were numerous; in fact, it probably pushed me into a career in business and finance.”

Link to P&Q’s article on Deans’ First Jobs here.

Photo: Sculpture by Seward Johnson, “Relish, too?” Celebrating the Familiar series

CATEGORY: Career, News

In its inaugural year, The George and Carol Bauer Leadership Center has hosted a number of events in which accomplished leaders have shared their wisdom and experience with our students, faculty, and alumni. One example is our Defining Moments signature course that features exemplary leaders from a range of industries sharing their defining leadership experiences. A common theme was the importance of personal values and ethics in a career and in the success of a company. We are documenting these stories in video vignettes that can be used to inspire students, researchers, and the business community.

The Bauer Leadership Center at Olin Business School develops values-based leaders—leaders who measure their success both by the results they achieve and the values they demonstrate.

We have spent much of this first year reaching out to different people to understand how we can work together with like-minded others to advance our mission. For example, we developed a proposal for a “community of practice” that brings together faculty and administrators engaged in leadership development across the Washington University campus. We are learning best practices from one another and discovering the potential for collaboration on common goals.

SAVE THE DATE: September 20, 2017
“The Value of Values for Founders and Entrepreneurs”
The Bauer Leadership Center is partnering with the Entrepreneurship Organization (EO) and the Executive MBA program to kick off the Values and Leadership forum series.

In the fall, we will unveil an exciting and unique program called “Bauer Fellows” in partnership with Olin’s Center for Experiential Learning. Students leading consulting teams across the globe will be working on their leadership capabilities at the same time they are delivering value to clients. We are currently exploring other ways to build values-centered leadership into Olin courses and programs.

Finally, none of this would be possible without the generous support of George and Carol Bauer. Their vision, example, and energy for our mission have been, and will continue to be, an inspiration. We offer our sincere thanks to the many people and organizations that are working with us—together we can change the way we teach and practice leadership!

For more information or to join our mailing list, contact Marcianne Gagliardi at mgagliardi@wustl.edu or 314-935-2943  Link to website.

 




Picking a favorite professor is a tough assignment at Olin, but Poets & Quants dared to ask members of their Best & Brightest MBA list. Markey Culver, MBA’17, named John Horn, Senior Lecturer in Economics. Horn has a track record as an outstanding teacher and favorite prof – he’s received the school’s Reid Teaching Award five times from graduating classes since 2014. Students select recipients of the Reid Award that honors a teacher  “whose enthusiasm and exceptional teaching most inspire, energize, and transform.”

Here’s why Markey named Horn in the Poets & Quants survey:

Like business leaders, MBA professors are often the extensions of the cultures they work so hard to mold and maintain. Make no mistake: They aren’t teaching to enjoy those clichéd 9-to-5 clock outs with summers off. Washington University’s John Horn, for example, served as an unofficial board member for Markey Culver’s startup, helping her after hours with drafting strategic plans, refining the business model, and preparing to scale the operation.

John Horn

Horn was a Senior Expert in the Strategy Practice of McKinsey & Company, based out of the Washington, DC, office, before joining Olin. During nearly a decade, he worked with clients on competitive strategy, war gaming workshops and corporate and business unit strategy across a variety of industries and geographies.

He was also an adjunct professor at the Robert H. Smith School of Business at the University of Maryland. Prior to joining McKinsey, John assisted major U.S. financial institutions with fair lending compliance as a consultant with Ernst & Young LLP. He also worked as an economic consultant with The Brattle Group, specializing in economic expert testimony in litigation support, including anti-trust and patent infringement cases.

Horn holds the following degrees:

PhD 1998, Harvard University
MA 1994, Harvard University
BA 1991, University of Michigan

 

 

 

 




“Just consider me as Joe bag-of-doughnuts, Joe six pack,” says the self-deprecating host of the American Management Association’s Edgewise podcast, Dave Summers, as he invites Anne Marie Knott to explain her RQ theory to non-academics. The two discuss Knott’s new book, How Innovation Really Works on the podcast.

Prof. Anne Marie Knott

Knott, professor of strategy at Olin, has developed a tool to measure the relationship between a company’s spending on R&D and how it affects profits and market value. You can think of the tool called “RQ” for Research Quotient as the equivalent of human IQ measurement for companies. If you know a company’s RQ, according to Knott, you can determine its optimal level of  R&D spending, and you can figure out how the change in R&D spending affects profits and market value.

How Innovation Really Works is accessible to “Joe Six Pack” as well as Jane, PhD. Knott says, “Geeks like me can find all the mathematical stuff in Chapter 10. The math is really beautiful.” For those who want to skip the numbers, she recommends chapters 1-8 to understand the the innovation-R&D-GDP connections.

Knott explains on the podcast how she got interested in innovation and R&D while working on missile defense systems at Hughes Aircraft before she entered academics. Her corporate experience fueled her research into why companies like Hughes were failing to maintain their innovative edge by outsourcing R&D.

The Edgewise podcast is produced by the AMA, link here for more info.

Related blog post with video.

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At the top of his game in 2009, golf star Tiger Woods was earning an estimated $92 million from product endorsements. Plagued by problems on and off the course from marital issues, knee and back surgeries to failure to win a major since 2008, or a tournament since 2013, the Tiger Woods brand has suffered. With the DUI arrest of Woods on Memorial Day in Florida, Olin’s Director of the Business of Sports Program, Patrick Rishe, is not optimistic about Woods’ power to attract or keep endorsements going forward:

Woods is more “expendable” these days as a brand ambassador because his playing career is in serious jeopardy of ever again coming remotely close to the greatness we all witnessed for the better part of two decades.

Part of this is because he is now, with this arrest, going to be perceived by corporate America as a two-time offender of the public’s trust.

That’s what Rishe said in his column for Forbes.

In an interview May 30 on CNBC, Riche predicts that Woods will lose more endorsement contracts (although, he admits, Nike is hard to gauge), as a result of his latest transgression.

According to CNN:

On Monday, Woods said in a statement that alcohol was not involved and that he had “an unexpected reaction to prescribed medications.”

In a statement to CNN and other media outlets, Woods, currently rehabbing from back surgery, said he did not realize the mix of medications “had affected me so strongly.”

“I understand the severity of what I did and I take full responsibility for my actions,” Woods said.

CATEGORY: News