New York Times
Google recently learned that the components of a successful team are not always clear-cut. For example, it found that while some effective groups were friends outside of work, other equally effective teams were made up of perfect strangers. A study co-authored by Anita Williams Woolley, associate professor of organizational behavior and theory, explained that this is actually quite common. ‘‘Some teams had a bunch of smart people who figured out how to break up work evenly ... other groups had pretty average members, but they came up with ways to take advantage of everyone’s relative strengths,” Woolley explained. “Some groups had one strong leader ... others were more fluid, and everyone took a leadership role.”
Poets & Quants
Each year, Tepper School students “trek” to the California Bay Area during winter break to network with alumni, search for internships, and tour prominent technology companies. Dean Robert Dammon and Steve Rakas, executive director of the Career Opportunities Center, weighed in on the importance of these types of opportunities, while Brian Chang, MBA ’16, and Saraswati Kaul, MBA ’17, shared stories of their trek with Poets & Quants — including visits to GoPro, Google, Shutterfly and VMware, and meetings with prominent alumni such as Jim Swartz, MSIA ’66, and Jeffrey Housenbold, BSIM ’91.
While only one-third of Americans report that they currently have confidence in the Federal Reserve Board, Allan Meltzer, the Allan H. Meltzer University Professor of Political Economy, points out that the Fed has had its high points in the past. Under the tenure of Alan Greenspan from 1987 to 2006, many felt the Federal Reserve had a positive impact on the economy, and Greenspan’s approval rating was 72 percent when he left the central bank. According to Meltzer, Greenspan’s tenure was “the best period in Federal Reserve history.”
While voters may try their best to choose political candidates based on their qualifications rather than “judging the books by their covers,” research by Christopher Olivola, assistant professor of marketing, has found that the subconscious may be making snap judgments based on the candidates’ physical appearance. Olivola’s research found that a strong predictor of success for a candidate rests on how competent he or she looks compared to his or her rival. “It stands even after you control how likable, how attractive, how baby-faced they look — or gender, political party, incumbency status, age and ethnicity,” Olivola explained. “Of all these facial traits, the consistently strongest of all these stereotypes is competence. It consistently comes out, in Western elections, as the strongest predictor of success.”
U.S. News & World Report
For MBA aspirants, the admissions process can be overwhelming. Kelly Wilson, executive director of Masters Admissions, shared with U.S. News & World Report her belief that attending admissions events is the best way for business school candidates to get a feel for the school and get to know the admissions team. “The dialogue that occurs is often much richer if you are present with somebody in person,” Wilson said. “I can get a better sense for who a candidate is in person, I believe, than I can over the phone or via email.”
In 2009, Duane Seppi, the BNY Mellon Professor of Finance and head of the M.S. in Computational Finance Program, and the Dietrich College of Humanities and Social Sciences’ George Loewenstein introduced the concept of The Ostrich Effect: an occurrence in which investors will “bury their heads in the sand” if they are expecting bad news regarding their portfolios. The pair recently released research showing that, even with today’s almost instantaneous access to financial information, The Ostrich Effect still occurs frequently with investors.
Pittsburgh Business Times
In a recent Q&A with the Pittsburgh Business Times, Laurie Weingart, senior associate dean of education and Carnegie Bosch Professor of Organizational Behavior and Theory, shared what’s happening at the Tepper School — including advances in entrepreneurship, collaboration with the rest of Carnegie Mellon University, the substantial growth of the Part-Time Online Hybrid program format, and the upcoming addition of the David A. Tepper Quadrangle. “This new building will allow us to do what we’ve always wanted to do, which is to become much more connected to the rest of campus and elevate the program in that way, both in terms of what we can do independently and what we can do interdependently,” Weingart said of the Tepper Quad.
Mervyn King Puts Sweden in the Dock as Price Regime Queried
In the winter of 2016, Marvin Goodfriend, the Friends of Allan H. Meltzer Professor and professor of economics, teamed up with Bank of England Governor Mervyn King to provide the Parliament of Sweden with an analysis of Swedish monetary policy. The pair provided recommendations on how the Riksbank can improve its monetary policy, financial stability, accountability and organization.
Upon entering business school, Samantha Grant, MBA/HNZ ’16, and Megan O’Rourke, MBA ’16, attended a Forte Foundation conference for women and wondered, “Why isn’t there a program like this in Pittsburgh?” The pair teamed up with classmates Katie Moritz, MBA ’17, and Lauretta Wild, MBA ’17, as well as Leanne Meyer, director of leadership development and program director of the Leadership and Negotiation Academy for Women, and Emily Archambeault, associate director of Masters Admissions, to plan a conference for mid-career level professional women. Attendees had the opportunity to learn about topics such as negotiation, leading workers in different generations and managing conflict.
The number of MBA graduates entering the healthcare sector is at an all-time high, as innovation plays a huge role in advances in healthcare technology. “Technology has impacted all sectors, and healthcare is not an exception,” Steve Rakas, executive director of the Career Opportunities Center, explained. Rakas said that over the past several years there has been a noticeable increase in healthcare job opportunities, particularly with industries such as social media and wearables.
Big data and research play a pivotal role in many industries. In recent years major league sports and other athletic organizations have caught onto this trend, and university research has evolved in these sectors. “Sports are a huge business at major universities,” Timothy Derdenger, assistant professor of marketing and strategy, Frank A. and Helen E. Risch Faculty Development Professor of Business, told the Boston Globe. “If you can chip away at interesting questions, maybe school administrators can be able to establish more efficient and profitable strategies for their athletic departments.”
A team of Tepper School students have spent the past several months collaborating with students from the College of Engineering, the College of Fine Arts and the Integrated Innovation Institute to bring Elon Musk’s vision for high-speed ground transportation to fruition. The Carnegie Mellon team advanced past the first round, the design phase, and will present their “pod” prototype in the fall of 2016. “Everyone wants to be associated with the Hyperloop movement. It’s a once-in-a-lifetime opportunity,” team leader Anshuman Kumar, MIIPS ’16, said.
U.S. News & World Report
For prospective students who are selecting an online MBA program, the level of flexibility that a school offers is often an important factor in the decision-making process. “Students should also look into the day-to-day flexibility of the program,” Robert Monroe, director of the Part-Time Online Hybrid MBA Program and associate teaching professor of business technologies, told U.S. News & World Report. “They should know how much of the program is synchronous, requiring students to log in at a specific time, and how much of it is asynchronous, allowing students to access the material at their own pace.”
After a Southern California Gas Co. storage facility experienced a methane leak that forced thousands of families out of their homes, the company decided to stall operations in order to conduct extensive testing. Jay Apt, professor of technology and co-director of the Carnegie Mellon Electricity Industry Center, warned that the facility — which is a major source of energy for Southern California — may never reopen. “If the facility were closed, getting new storage permitted would be unlikely because of community opposition and geologic concerns,” Apt said.
The Manila Times
Whether in a professional or personal setting, people would like to be able to determine whether an individual is ethical before building a relationship with him or her. Research by Taya Cohen, Carnegie Bosch Junior Faculty Chair and associate professor of organizational behavior and theory, found that, while many factors contribute to whether or not a person is ethical, one of the easiest to spot is guilt-proneness. Many people are more prone to feeling guilty due to a strong internalized set of values, and therefore, they may be a better addition to an organization.