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Rotman ManagementRotman Management

Rotman Management Spring 2018

Published in January, May and September by the Rotman School of Management at the University of Toronto, Rotman Management explores themes of interest to leaders, innovators and entrepreneurs. Each issue features thought-provoking insights and problem-solving tools from leading global researchers and management practitioners. The magazine reflects Rotman’s role as a catalyst for transformative thinking that creates value for business and society.

País:
Canada
Idioma:
English
Editor:
Rotman School of Management, University of Toronto
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access_time2 min.
spring 2018: value creation

WHATEVER YOUR ORGANIZATION PRODUCES — whether it be the latest technology, a healthcare experience or some type of financial service — one hard truth applies: Your offering has zero value unless your customers perceive value in it. One of the core challenges for leaders today is to understand the nuances of creating value in the mind of the consumer. What does your organization do that no one else can match? What problems do you enable people to solve? And what problems do customers have that you are not currently solving? In today’s innovation-focused environment, everyone in your organization should be thinking about the answers to these questions. The challenges for today’s leaders don’t end there, because ‘the business of business’ is no longer just business. Individuals, economies, societies and political systems are…

access_time15 min.
the (surprisingly) simple economics of artificial intelligence

EVERYONE HAS HAD — or will soon have — an AI moment. We have grown accustomed to a media saturated with stories of new technologies that will change our lives. We are so used to the constant drumbeat of technology news that we numbly recite that ‘the only thing immune to change is change itself’. Until we have our AI moment. Then we realize that this technology is different. Some computer scientists experienced their AI moment in 2012, when a student team from the University of Toronto delivered such an impressive win in the visual object-recognition competition ImageNet that the following year, all top finalists used the then-novel ‘deep learning’ approach to compete. These scientists recognized that object recognition is more than just a game; it actually enables machines to ‘see’. Some…

access_time13 min.
thought leader interview: michael porter

What is the Social Progress Imperative? It started back in 2009, at a meeting of one of the Global Agenda Councils at the World Economic Forum. Michael Bishop of The Economist threw out an idea to the group: The WEF had already had a significant impact on the world from an economic perspective, in terms of helping countries increase their GDP per capita; shouldn’t there be a way to measure social progress as well — progress that drives not GDP, but social well-being? People loved the idea, and a founding group was quickly formed, including our current chairman, Brizio Biondi-Morra. Shortly thereafter, I was asked to come on board to lead the development of the conceptual framework for measuring social progress and the research effort. Social progress has become an increasingly pressing issue…

access_time10 min.
the elements of value

Figuring out what consumers truly value is no easy feat. Describe how your work on ‘the elements of value’ began. Eric Almquist: A few years ago, after doing hundreds of consumer studies for our clients over three decades, we realized that we had some very powerful intel about what people value. Initially, we used our research to identify 24 elements of value in the consumer arena — but we suspected there were more. So, in 2015, we did some new qualitative research, talking to consumers directly about why they purchased a particular product. We really probed people, to get down to the fundamentals. If someone said, ‘I use Bank X because it’s convenient’, we would ask, ‘What does convenience mean to you?’ We did this repeatedly to get down to the most…

access_time13 min.
creating value for business and society

CORPORATE SUSTAINABILITY HAS ARRIVED AT A CROSSROADS. In one direction, corporate leaders in sustainability remain a minority and are unevenly distributed across geographies and industries. Stand-outs like Unilever’s Paul Polman and Patagonia Inc.’s Yvon Chouinard are still the exceptions. In another direction, the natural environment continues to change as a result of human activity. Catastrophic loss from naturally-occurring events like floods, earthquakes and droughts are becoming more frequent and intense, threatening regional economies and compounding resource-scarcity issues that afflict many areas. In still another direction, economic inequality presents growing risks to globalization and international market stability. With populist and anti-regulatory leaders on the rise, trust in government institutions reaching a low point — and some political leaders denying the reality of climate change — the potential for corporate sustainability to lose…

access_time14 min.
gender equality in the workplace: how men can move the needle

Sarah Kaplan: I wanted to have this conversation because I believe it’s really important to have men directly involved in achieving gender equality. Both of you have long been champions of diversity, and I am curious as to why. A major survey of executives recently suggested that a substantial proportion of men believe there is too much attention placed on diversity in organizations. My question is, why would any organization want to invest in inclusion? Kevin Lobo: Whenever I give a talk at my company, I start off with a business case for diversity and inclusion. To me, it seems so obvious, but I feel like I have to repeat it anyway. Stryker is a medical device company: We manufacture products. But essentially, every successful business is always about talent. The…

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