By Kirk Kardashian Published Mar 25, 2014
Professor Andrew Bernard reframes the conversation on how to increase trade from developing nations.
By Kirk Kardashian Published Mar 25, 2014
Professor Andrew Bernard reframes the conversation on how to increase trade from developing nations.
June 12th 2014
Paul Danos, the dean of Dartmouth University's Tuck School of Business, has announced he will step down next year after 20 years at the helm. Here he looks back over his time at the school.
Tuck Alumnus (22 hours ago in Tuck's LinkedIn page)
"Having been back at Tuck not long ago for a reunion, I was pleased to see that the closeness between students and faculty that was a strong point when I was a student in a class of 125 has been preserved, perhaps even strengthened, even though the school has increased its enrollment since then. While still not large in comparison to other top MBA programs, the increased size does provide access to greater resources and that is a good thing"
May 30, 2014
This year, three long-standing business school deans announced they would step down. Paul Danos, dean of the Tuck School of Business at Dartmouth, has been in his role for 19 years. Mark Zupan has been dean of the University of Rochester’s Simon Graduate School of Business for 10 years, and Bob Bruner has led the Darden School of Business at the University of Virginia for nine. Deanships that long are rare. The B-school deans at the 62 MBA programs ranked by Bloomberg Businessweek have been in their roles for a median four years.
As they prepare to depart, taking with them nearly four decades of combined experience, we asked deans Danos, Zupan, and Bruner about how their thinking has evolved when it comes to business schools, MBA students, and fundraising, along with some of their less-dean-like pursuits. The following dialog, conducted via e-mail, has been edited for length and clarity.
Bloomberg Businessweek: What advice do you have for your successor?
Danos: Keep the quality of the student experience at the center of your strategy, continuously improve the faculty with additions of world-class thought leaders dedicated to student learning, and carefully monitor the fast-changing world of business education...
...“There is no better way of understanding the workings of corporate life and how competition really takes place and how society is affected by business,” says Paul Danos, dean at Dartmouth College’s Tuck School of Business and board member at General Mills (GIS)...
The Arthur and Toni Rembe Rock Center for Corporate Governance is a joint initiative of Stanford Law School and the Graduate School of Business at Stanford University. The Center was created to advance the understanding and practice of corporate governance in a cross-disciplinary environment where leading academics, business leaders, policy makers, practitioners and regulators can meet and work together. The Center is led by outstanding Faculty with active collaboration from its Advisory Board.
June 20, 2012
Fellow at the Rock Center for Corporate Governance Vivek Wadhwa is mentioned by the Wall Street Journal's Matthew J. Slaughter in the following article on the need to attract more high-skilled immigrants to the United States.
President Obama thrust immigration back into the spotlight last week with his executive order halting deportations for certain young illegal immigrants. In the context of America's jobs crisis, however, this is the wrong immigration issue to focus on. Our most pressing immigration problem marched across platforms at American colleges and universities in recent weeks—skilled foreign-born graduates whom we do not adequately incentivize to stay and work here.
At the Tuck School's graduation ceremony this month, I proudly read the names of 277 M.B.A. graduates. The Tuck class of 2012 was 35% foreign-born, representing countries from Australia to Zimbabwe. Many of these graduates chose Tuck over peer schools abroad because they aimed to apply their world-class U.S. education in the U.S. labor market. The same is true across academic fields. Today nearly 42% of all U.S. doctorate-level science and engineering workers are foreign-born.
These five graduates exemplify the worrisome reality that America's attractiveness is waning for talented immigrants from dynamic countries. In the past decade, the share of doctoral-degree recipients in science and engineering from China and India who report definite plans to stay in America has been falling. A recent survey by Duke University researcher Vivek Wadwha found that 72% of Indian immigrants who returned to their home country said that opportunities to start their own businesses were "better" or "much better" there than in the U.S. For Chinese immigrant returnees, the figure was an alarming 81%.
May 11, 2012
Rock Center Fellow Vivek Wadhwa discusses how visa hurdles and other obstacles on the road to permanent residency are forcing many foreign Silicon Valley...
May 11, 2011
Professor Dan Siciliano spoke to Dave Jamieson of the Huffington Post on whether Chipotle will offer higher wages for documented workers now filling the...
Experts from a range of companies explored how big data will change a trip to the mall, online shopping or a vacation to Las Vegas. The discussion covered the kinds of information that companies can and will use to better serve and understand their customers. This exploration also sought insights into what is already changing and what will change as big data allows enterprises to dig deeper into consumer preferences. Companies, of course, want to better target would-be patrons without eroding consumers’ sense of privacy.
Fall A & B: A Partner's (and Family's) Perspective, 7 December, 2012
When applying to Tuck and during our weekend here for ASW, Zach and I were often told that the first two semesters (Fall A, lasting approximately the 4 weeks of September, followed by Fall B which lasts from October through mid-December) are incredibly intense and busy and overwhelming. As the Partner, I was warned that Zach would be so busy I'd almost never see him. I wasn't quite sure what to expect-- we were coming from a set-up where Zach was working in a different city part-time so I was used to not seeing him four days of every week, but then he was home and fully focused on us during the weekends. I figured school would probably be about the same level of busyness, just distributed differently-- we'd get to actually see him in the evenings some, but give up a lot of our weekend time to homework and class projects...
A growing population, increasing shortages of resources, and national economies that are heavily in debt – the world is facing enormous challenges over the coming decades. Business is going to play a key role in solving these problems. “Never before, have companies and society been so closely connected,” says Pierre Tapie, President of the ESSEC Business School.
Together with Keio Business School in Tokyo, the School of Management of Fudan University in Shanghai, ESSEC Business School in France and the Business School of the University of Mannheim, Tuck forged an alliance of leading business schools from all parts of the world. (CouncilOnBusinessAndSociety.com) The alliance has a clear goal: to debate central economic and societal questions of the future, and to develop problem-solving approaches, while embedding them in research and education. More than 200 high-profile professors, business representatives, and students from the home countries of the five alliance partners participated in the first Forum and the focus was on questions that are both current and controversial: How can we best shape corporate governance? How should business leaders deal with the increased scrutiny of corporate actions? And what solutions exist for the tension-laden issue of balancing profitability with responsibility to multiple stakeholders?
These are topics that will have an impact on the education of future managers as well. A study conducted amongst graduate students at the five cooperating business schools shows that future leaders in the United States already regard ethical conduct as one of the most important qualities of a successful top manager. Internationally, this attribute ranks second to competence in financial questions, but ahead of both strategic orientation and the ability to motivate employees...
Richard A. D’Aveni is the Bakala Professor of Strategy at the Tuck School of Business at Dartmouth College and author of Strategic Capitalism: The New Economic Strategy for Winning the Capitalist Cold War (McGraw-Hill; 1 edition (July 31, 2012), 304 pages)
With the rise of China as an economy, a question hangs in the air: Can America beat state capitalism? The evidence is not encouraging. The U.S. has lost millions of jobs to the Chinese. It will lose millions more if China, as it proposes, turns itself into a high-tech giant in critical industries ranging from telecommunications to aviation.
The rise of state capitalism has put the U.S. at a competitive disadvantage. State capitalism operates with zero-sum rules, in which one country gains as another loses. This is hardball competition, dog eat dog. And the Chinese dog is eating the American one in products ranging from cell phones to steel.
Zero-sum capitalism is not the form of capitalism U.S. policymakers see as the challenge in global markets. U.S. policymakers are guided instead by the idea of a win-win world. When everyone trades freely, business expands across the board. Every country wins. This free-market, open-trade approach is enshrined in the World Trade Organization...
The Tuck School of Business at Dartmouth University is increasing its commitment to Latin America through the creation of an advisory board for the region and expanded scholarship aid for Latin American students, the school announced last week.
The new Latin American Advisory Board will be made up of alumni living and working in Latin America and will collaborate with Tuck to increase recruitment of students from the area, expand career opportunities there and shape Tuck’s programming and curriculum as it relates to Latin America. As part of its effort to bolster Latin American recruitment, Tuck also has more than doubled the dollar amount of scholarships awarded to students from the region.
“Latin America is an important strategic region for Tuck and that commitment is reflected in our admissions process,” Dawna Clarke, Tuck director of admissions, said in a statement. She added that students from the region tend to thrive at Tuck given the importance that is placed on relationships within Latin America, which dovetails with Tuck’s own focus on teamwork, collaboration and community...
MANILA, Philippines - The Philippine business process outsourcing industry breathed a sigh of relief as the US Senate rejected the so-called "Bring Jobs Home Act."
The bill, which would have elimated existing tax breaks for US firms that ship jobs to other countries, was blocked by Republicans at the US Senate. This despite President Barack Obama's earlier push for legislation that would encourage companies to bring back jobs to the US.
"Outsourcing business services to the Philippines helps make American companies more competitive and profitable. Profitable companies hire more workers, both here, and in the United States," Benedict Hernandez, Business Processing Association of the Philippines (BPAP) president and CEO, said, in a statement.
BPAP cited a study showing that outsourcing does not have an impact on job losses in the US.
"Dartmouth’s Tuck School of Business economist Matthew Slaughter, in a study of the hiring practices of 2,500 US multinationals, found that for every job outsourced, nearly two new jobs are created in the US," Hernandez said.
As the US unemployment rate remains high and its economy continues to sputter, some sectors have blamed American companies for outsourcing jobs to countries like the Philippines.
Many American firms have outsourced call center services to the Philippines and India in recent years, since wages here are much lower than in the US.
However, Slaughter's study showed that American jobs created by subsidiaries of foreign multinationals almost doubled over a generation, employing 5.4 million US workers...
Co-author Paul Danos is dean of the Tuck School of Business at Dartmouth College
There was a time when a student could graduate from business school with the basic MBA tool kit and knowledge about a single industry or job function and be reasonably confident that he or she was well positioned to launch a career. But now, with the constant stream of data, news and opinions that needs to be sorted through, having a depth of knowledge is no longer enough. Today, mastery of business requires the ability to filter and synthesize information from multiple sources in order to make effective business decisions.
In the mid-1990′s, when use of the Internet was growing by leaps and bounds at colleges, many business school faculty noticed a shift in the way information was being gathered and processed. Students, for the first time, had access to high-speed Internet connections and a wealth of information that made the computer lab an extension of the library. Textbooks, which for generations served as the definitive study reference, became just one of a vast array of information sources.
In hindsight, we can now see that a large-scale adaptation was taking place. When faced with information overload, students—and businesses—became more nimble at sourcing, sorting, analyzing and applying data to solve problems. Eventually, business schools caught on, in large part because the market (employers) told them that their graduates needed to come equipped with more agile information integration skills. Our schools, The Tuck School at Dartmouth and the University of San Diego’s School of Business, are among many programs that revised curricula and innovated to address these issues.
Business schools also recognize that their screening of candidates needs to adapt to reflect these changes. It is no longer enough just to test for quantitative, verbal, and writing skills; schools realize that they also need to understand how well applicants synthesize information to solve problems.
We are pleased to see that the Graduate Management Admissions Council has worked with business schools to change the way these new skills are measured. The Council surveyed 740 business school faculty members and identified specific questions that reveal how well students can use different data sources to analyze information and identify relationships to solve interrelated problems.
The result: On June 5, graduate business schools will welcome the Next Generation Graduate Management Admissions Test (GMAT) with a new section called Integrated Reasoning. The older version of the test, which includes two 75-minute sections—one quantitative and one verbal, had two separately scored 30-minute essay questions. One of these essays will be replaced by the Integrated Reasoning section. The Graduate Management Admissions Council will report Integrated Reasoning scores separately on a one-to-eight scale that, like the essay question, will not be included in the total GMAT score.
Schools, like students and businesses, are constantly adapting to the proliferation of information. When considering a large number of applicants for a limited number of seats, we too must sort through mounds of data to try to determine which candidates are the best fit. We...
Dartmouth College’s Tuck School of Business is transforming the way it teaches many of its MBA core classes, delivering portions of them online via video lectures, and using online quizzes and discussion boards. About a dozen Tuck professors are participating in the effort, using videos to teach introductory material in classes such as Managerial Economics, Statistics for Managers, Corporate Finance, and Operations Management, the school said...
Tuck Dean Paul Danos, who spearheaded the pilot program this school year, says he got the idea after doing an online tutorial with his granddaughter on Khan Academy, the nonprofit education website that offers thousands of free YouTube-based lessons.
“I was doing the lesson with her and I thought, Why can’t we do something similar to the Khan Academy?” says Danos. “I told professors anything you can put up on a whiteboard should be put up in advance so you can have more time in the classroom for conversation and face-to-face interaction.”...
...The videos have proved to be a success so far; in a survey of 134 first-year MBA students who took Kopalle’s class this fall, about 80 percent of students said they found the videos to be a useful part of their overall class experience and liked the technology, while 72 percent said it improved the way they learned the material...
It was only a matter of time before a prominent business school decided to do its own version of Facebook to better connect alumni around the world. Not surprisingly, the school that will launch its Facebook-like network is Dartmouth College’s Tuck School of Business.
Next month, the school will take the wraps off of an impressive and innovative effort to use a private social network to more effectively link its 9,100 alumni—already the most loyal and generous of any business school in the world—with each other as well as the Tuck’s faculty and current students...
If you've not yet heard of telemedicine or think that it's not a great way to deliver quality health care, you may want to read this. Telemedicine, made possible by the availability of mobile networks, is revolutionizing health care. But not in the U.S.
You have to look to India, where telemedicine is already widely used in the delivery of health care — and is saving lives even in the most rural corners of the country...
...Tuck's Research-to-Practice Seminars arose three years ago out of Tuck's most recent strategic review process, Tuck 2012. "One of the themes of that review was to increase students' access to the thinking and knowledge of faculty," says senior associate dean Bob Hansen. "We were looking for ways to get students close to the research that faculty do when they are not in the classroom."
As with most business schools, the majority of high-level faculty research is largely invisible to students. While Tuck has long provided students with opportunities to assist in research-related activities and take part in independent studies, their reach has been limited. At the same time, says Hansen, actually doing research may not be the best way to expose students to the way research is done and how it is applied in a practical sense—especially for the majority of MBA students who will put their education into practice once they graduate. "Our students are not going out to do this kind of research," says Hansen. "That's why we came up with this format."
"If there is one thing the business world has learned over the past few years, it's that we may have taken a few too many things for granted."
"We wanted a way for our faculty to share with students not only best practices but also their approach to creating knowledge," adds Dean Paul Danos. "One should continuously inform the other. At Tuck, our research faculty teach a high percentage of courses, and we just wanted one more dimension to keep the research-and-teaching linkage together."'...
Dean Paul Danos is the author, US News & World Report, February 24, 2012
Paul Danos is dean of the Tuck School of Business at Dartmouth.
There have been innumerable references to ethical lapses among MBA degree holders during the financial crisis of the last few years and understandably so. I believe that what irks many people in retrospect is the fact that the rewards and punishments of the major players did not seem to be commensurate with their roles in the fiasco. Some attribute the disaster to unbridled greed run amok among the financiers, and others put the responsibility on flawed public policy or inadequate regulatory oversight.
No matter who is ultimately to blame, lessons for anyone who purports to be educating leaders abound, and because so many of the bankers involved had MBA degrees, business schools must analyze the whole series of causes and effects, and try to draw conclusions about appropriate modifications to their own programs.
In light of the financial meltdown, I believe that MBA programs would better prepare their students if they could answer "yes" to the following three questions:
1. Are students exposed to the fundamentals of ethics and to cases of ethics violations from the real world? I would guess that most top schools give such exposure, and many schools have made ethics and social responsibility required coverage. This approach would address some of the issues around the appropriateness of reward structures and the morality issues related to the growing disparity in compensation within and across major organizations.
While the Middle East will remain volatile for some time and reform movements are “far from done,” there is reason to be optimistic about the region’s future, government professor Dirk Vandewalle said in a lecture titled “The Middle East a Year Later: Business as Usual?” on Monday in Raether Hall at the Tuck School of Business.
Vandewalle’s lecture focused on the progress made by North African and Middle Eastern countries since the beginning of last year’s popular uprisings. As one of the world’s leading experts on Libya, Vandewalle gave his perspective on current events in the Middle East with a theme of “reasonable optimism.”
Vandewalle said he believes Syria will involve itself in the Middle Eastern situation within the next few weeks as a result of international pressure.
United Nations intervention over the past year has been in accordance with the Responsibility to Protect policy, adopted by the U.N. in 2005, which gives the international community the right to protect civilians of a sovereign state when the state does not or cannot do so, he said.
The lecture was co-sponsored by the Center for International Business and Tuck News.
"mini-elective" course called "Doing Business in the Arab Gulf States."
The Tuck Global Consultancy is a field-study course in which students work with companies and NGOs operating outside the United States. On-site consulting projects are carried out by small teams of students working under the supervision of advisors who have extensive consulting experience. As they learn more about consulting, Tuck students also learn how to operate effectively in new environments and cultures—a prerequisite for success in a globalized economy.
Students define their projects, travel to their assigned countries for on-site research and analysis, then deliver initial presentations of findings to their client's overseas-based senior management. After they return to the U.S., the teams complete full reports and present to U.S.-based management within four to six weeks.
Nearly 150 projects in more than 45 countries for almost 100 clients have helped Tuck students put their management skills and business expertise to the test, with remarkable success for them and their clients.
Robert G. Hansen is senior associate dean of the Tuck School of Business at Dartmouth University.
Last Friday, President Obama visited the University of Michigan and outlined a new plan aimed at limiting tuition increases at U.S. universities. There is no question that tuition increases have been high—as any parent or student paying the bills will attest. Earlier, in his State of the Union address, the president hinted at his approach: "Let me put colleges and universities on notice: If you can't stop tuition from going up, the funding you get from taxpayers will go down." The 4,000 Wolverines listening roared their approval...
uValue (uValue Mobile, iOS 4.0+, Jan 20, 2012) is a corporate valuation app for the iPad (now also available in its fully functional form for the iPhone and iPod Touch). The app helps you value businesses using conceptually rigorous, yet practical, widely-used tools. You can value firms using the ‘weighted average cost of capital’ (WACC, or 'cost of capital') approach, the ‘adjusted present value’ (APV) approach, the ‘dividend growth model’ (DGM), or real option valuation (ROV) techniques. The app also includes a set of handy calculators to value bonds, annuities and perpetuities, as well as to calculate the cost of capital, to forecast exchange rates, to lever/unlever betas, and so forth.
Aswath Damodaran is a professor of Finance at the Stern School of Business, New York University.
Anant Sundaram is a professor of Finance at the Tuck School of Business at Dartmouth.
When I view the economic prospects through my business school lens, I am encouraged, as opposed to the pessimism engendered by the reading of most professional economists' forecasts. If one believes in rational employment markets, last summer's strong demand for top MBA graduates should be an occasion for optimism. Last summer 97 percent of Tuck's 2011 graduates had firm employment offers within three months of graduation and total compensation increased 7 percent over 2010. As an indication of next summer's demand 85 percent of the class of 2012 had job offers coming from their 2011 summer internships...
Jan. 6, 2012 (Bloomberg) -- David Blanchflower, a professor at Dartmouth College and a Bloomberg Television contributing editor, talks about the U.S. economy, labor market ( wages) and Europe's sovereign debt crisis. He speaks with Tom Keene on Bloomberg Television's "Surveillance Midday." (Source: Bloomberg)
Hockey is more than just a game at Tuck. It's woven into the fabric of the school, an all-comers activity that builds on Tuck's time-honored traditions of teamwork and community. But first you have to learn to stand on three legs.
In it, he shared some of his research on what over 50 former high-flying companies – like Enron, Tyco, WorldCom, Rubbermaid, and Schwinn – did to become complete failures. It turns out that the senior executives at the companies all had 7 Habits in common. Finkelstein calls them the Seven Habits of Spectacularly Unsuccessful Executives.
These traits can be found in the leaders of current failures like Research In Motion (RIMM), but they should be early-warning signs (cautionary tales) to currently unbeatable firms like Apple (AAPL), Google (GOOG), and Amazon.com (AMZN). Here are the habits (PDF Ivey Business Journal), as Finkelstein described in a 2004 article:
Habit # 1: They see themselves and their companies as dominating their environment
Habit #2: They identify so completely with the company that there is no clear boundary between their personal interests and their corporation’s interests
Habit #3: They think they have all the answers
Habit #4: They ruthlessly eliminate anyone who isn’t completely behind them
Public Relations Society of America (PRSA), the largest industry group for public relations professions, which is trying to get business schools to take a more serious approach to teaching MBA students the art of corporate communication and reputation management. It’s a skill that is sorely lacking, according to a new study the PRSA...
One of the first efforts to encourage business schools to start thinking more about corporate reputation management and strategic communication will commence in the 2012-13 school year, when five business schools will participate in a pilot program spearheaded by the PRSA. Dartmouth University’s Tuck School of Business will be one of the five schools participating; the other four schools have not yet been named, the PRSA said. Paul Argenti, a Tuck professor and author of the textbook Corporate Communication, is developing the curriculum for the pilot, which can be adapted for full-semester, mini-semester, or seminar-format courses. The class will include lessons on communication strategy, media relations, international corporate responsibility, reputation management, and investor relations. In addition, students will be asked to participate in crisis communication simulation exercises and review case studies on the topic. The hope is that all the leading business schools will incorporate this class, in some format, into their curricula in the 2013-14 academic year, the PRSA said.
Bloomberg Businessweek‘s Alison Damast recently spoke with Argenti...
Businessworld, 03 Dec 2011
The next 50 years will be defined by two important trends - both favouring India. The world's population is about 7 billion, of which 5 billion are poor. Companies typically target the 2 billion rich. Over the next 50 years, the projection is that we will have 12 billion people, of which 10 billion will be poor. So, the biggest opportunity for corporations is to convert the poor into a consuming base, so that they become an even bigger opportunity over the next 50 years.
However, you need innovation to serve the poor. I recently wrote a piece on a $300 house for the poor. Once you construct a home, it becomes a reservoir for other products. Apple, for instance, does not sell a single iPhone to the poor. If you could make an iPhone for $5, there is a $25-billion market. Even for a giant like Apple, that's a big revenue opportunity.
The second big trend is sustainability. This planet cannot be sustained if the 5-billion poor turn into consumers...
Vijay Govindarajan, Herminia Ibarra, Rita McGrath and Linda Hill were live online on Tuesday 15th November.
The world’s leading business brains are gathering in London for the Thinkers50 Summit, a world-class management conference and awards celebrating the best and brightest global management thinkers...
Many of these pivotal ideas have been published by the Harvard Business Review Group and four of these leading thinkers are joining us in a special live webTV show to discuss how their ideas are impacting the business world are:
17 octubre, 2011, www.club-mba.com
Tuck School of Business, cuyo programa MBA acaba de ser designado como el mejor del mundo por la revista The Economist, celebrará una sesión informativa en Madrid el próximo 25 de octubre, para todos aquellos que quieran conocer esta escuela de negocios y su programa MBA.
El evento, organizado por la Oficina de Admisiones de Tuck, contará con la presencia de Christie St. John, Directora Asociada de la Oficina de Admisiones, y de alumni españoles, y se celebrará en la Sala Club de la sede de Telefónica en Gran Vía 28, Planta 13ª el jueves, 25 de octubre, a las 19:30 horas.
Aquellos interesados en asistir deberán registrarse en la página web de Tuck, a través del siguiente enlace: http://www.tuck.dartmouth.edu/admissions/connect-with-us/attend-an-event/
Oct. 11 (Bloomberg) -- Paul Danos, dean of the Tuck School of Business at Dartmouth College, talks about the demand for positions at the school, the quality of Tuck applicants and the success of graduates. Tonight at 7 p.m. New York time, Bloomberg Television and the Washington Post, in partnership with WBIN-TV and host Dartmouth College, will present the first debate of the 2012 campaign focused exclusively on the economy. Charlie Rose moderates. He'll be joined by Washington Post political correspondent Karen Tumulty and Bloomberg White House correspondent Julianna Goldman. Danos speaks on Bloomberg Television's "InBusiness with Margaret Brennan."
In a packed Leede Arena at the Tuck Investiture Ceremony, Immelt told the MBA candidates to think globally, have the courage to make difficult decisions, be problem solvers, connect with people, and understand context...
external focus, imagination and creativity, decisiveness, clear thinking
...America's decaying infrastructure costs the typical American worker hundreds of hours in lost productivity. It also costs companies time and efficiency in moving their products around -- and also out of -- the country...
...Congress must pass comprehensive infrastructure legislation now to support America's competitiveness. In particular, Congress must ensure that sufficient funds are dedicated to this urgent issue. Americans stuck in Labor Day traffic understand this challenge of building infrastructure to build jobs...
Professor Gregg Fairbrothers, Adjunct Professor of Business Administration at the Tuck School of Business and Director of the Dartmouth Entrepreneurial Network (DEN) has published his first book, From Idea to Success, The Dartmouth Entrepreneurial Guide for Start-Ups with Dartmouth College graduate, Tessa Winter ’09. The book offers instruction and advice from hundreds of experienced entrepreneurs who have successfully launched businesses...
“A guide that sets first-time entrepreneurs’ feet in the right direction.”
Geoffrey Moore, author, Crossing the Chasm (previously on DeansTalk)
For a brief moment during a recent day of volatile trading on Wall Street, Apple overtook Exxon Mobil as the most valuable company on the stock market. This was quite an accomplishment, considering Exxon’s giant global footprint in energy exploration, extraction and sales, and that Apple nearly went out of business in the mid-1990s. The turnaround that delivered Apple to the pinnacle of the technology business began in 1997, when Steven P. Jobs became CEO of the company he co-founded but was ousted from in 1985. How did the company’s ascendance come about?...
JUDY WOODRUFF: Today's plunge marked the fourth time in just over a week where the Dow Jones industrials have dropped by triple digits. Market volatility is at again near record levels.
We look at this and the larger picture with two people who have worked closely on economic policy. Christina Romer was the chair of the Council of Economic Advisers for President Obama until September 2010. She's a professor of economics at the University of California at Berkeley. And Matthew Slaughter served on President George W. Bush's Council of Economic Advisers from 2005 to 2007. He's now associate dean of the Tuck School of Business at Dartmouth College. And we thank you both for being with us.
Christina Romer, to you first.
The scary roller-coaster ride on the stock market continued again today. How do you explain it?
CHRISTINA ROMER, University of California at Berkley: Well, I think, obviously, one of the things about the stock market is it's very hard to explain the ups and downs...
Up Against the Debt Ceiling, July 2011.
If the United States defaults on the federal government’s debt, the consequences would be catastrophic. That was the central message in Tuck professor Matt Slaughter’s testimony before the House Democratic Steering and Policy Committee on July 7.
The Tuck School of Business Annual Giving campaign broke a world record when it reached a 70.5 percent participation rate in its 2011 campaign, according to a Tuck press release. Participation in Tuck Annual Giving has historically been higher in comparison to other business schools in the United States and around the world...
The Inter-American Partnership for Education (IAPE) is a Clinton Global Initiative Commitment that aims to transform English language instruction in Mexico's most underserved public schools by training, empowering, and supporting a dedicated network of innovative and dynamic English language educators. IAPE is a partnership of Worldfund and Dartmouth College's Rassias Center for World Languages and Cultures and is underwritten by Bécalos and Nextel de México. IAPE receives additional generous support from The Lynde and Harry Bradley Foundation and from participants' home institutions. IAPE's flagship program, the IAPE Teachers' Collaborative, involves over one hundred hours of pedagogical training at Dartmouth College, followed by three years of mentoring and supporting colleagues in Mexico. Our newest program, the IAPE Intensive English Program, is offered in Mexico and involves eighty hours of intensive English instruction and twenty hours of pedagogical training.
One of the most valuable assets of a top-ranked business school is its alumni network. It’s a major consideration by applicants in choosing an MBA program, and it’s a significant sign of a school’s true brand strength in the marketplace.
But it’s also something that is hard to measure. There is no available metric that will let you know how often the alumni network at a school gets current students internships or jobs. There is no measurement to find out how often an alum returns the call of a student for advice, mentorship, or networking.
There is, however, one very telling number to judge the strength of a school’s alumni network: the percentage of alumni who give money to a school every year. As Paul Danos, dean of Dartmouth’s Tuck School of Business, puts it, a school’s annual alumni giving rate is “a long-term satisfaction index.”
Alumni wouldn’t be handing over money to a school especially if they felt no affinity toward the institution or were unsatisfied with the MBA experience they received. So high alumni giving rates might well be the single best proxy to assess both the satisfaction of MBAs with an institution as well as the ultimate value of the network a graduate inherits at commencement.
Which business schools do exceptionally well on this index? Year in and year out, the Tuck School beats every other institution in the world when it comes to annual alumni giving. Last year, for example, some 67% of Tuck’s 8,976 living MBAs wrote checks to the school. That is an extraordinary level of support at a time when the average rate of giving for a top-20 business school is roughly 20%.
“That is like the four-minute mile,” boasts Danos. “The appreciation for Tuck grows as our graduates go out and speak to others about their experiences. That long-term satisfaction has to be high given the unheard of rate of giving. I do think it’s a long-term endorsement of the general way we educate.”
This year, Tuck will reach a new milestone, eclipsing the highest participation rate in its history. With a May 31st deadline approaching for its annual giving campaign, more than 68% of its alums have already send in their checks, beating the 67.5% peak reached in 2008. Danos is hopeful that the school might very well hit 70% this year.
And after Tuck? It’s Yale University’s School of Management, which last year saw 46% of its MBA alums reach into their pockets to donate money to the school; the University of Virginia’s Darden School, the beneficiary of a 43% alumni giving rate last year, and the Stanford Graduate School of Business, which reported a 41% participation rate by MBA alums....
Paul Danos, dean of Dartmouth’s Tuck School of Business for the past 16 years, can’t seem to get enough. The longest-serving B-school dean of any top-20 school has signed up for his fifth four-year term.
Jokes Danos: “I’m getting into the Guinness Book of Records, going on 16 plus four. Time flies.”
In an era when the average tenure of a B-school dean is less than five years, the 65-year-old Danos has astutely led Tuck not merely through a time of dramatic change at the school, but also through numerous market booms and busts, fads and trends, and serious criticism of the degree and the people who have it.
It is easy to underestimate the impact of an individual on an institution, particularly a dean whose impracticable job has accurately been described as one of “herding cats.” Yet over the past 16 years, Danos has welcomed to the school and ultimately sent into the world more than 40 percent of Tuck’s nearly 9,000 living alumni. He has recruited and hired roughly 85% of the school’s 50 professors. Danos also has raised more than $250 million to help foot the bill for, among other things, a 50% increase in the size of the faculty and vast improvements in the school’s facilities so that half of Tuck’s 11 connected buildings are either new or completely renovated.
PRESERVING TUCK’S CLOSE-KNIT CULTURE OF AFFECTION AND COLLABORATION
Yet, he also has been able to preserve and build upon Tuck’s unique close-knit culture of affection and collaboration...