Tuesday, December 23rd, 2014
Principles that Reliably Yield Success
“Habitual procrastination can really hurt you in the long run because waiting to take care of something that’s obviously important to you – health, money, family matters – weighs on your subconscious,” says Dr. Cerfolio, known as “the Michael Jordan of lung surgery.”
Understanding one’s personal “line of gratification” is the foundation for sticking to self-improvement goals, he says.
“There are many kinds of lines of gratification,” he says. “For some, they’re the number of zeroes in their bank statement; for others, the curves of their muscles after they leave the gym. It’s good and healthy to look back on your hard work and admire what you have accomplished before moving on to the next task.”
Dr. Cerfolio, author of “Super Performing at Work and at Home: The Athleticism of Surgery and Life,” shares tips on how to make those lines of gratification more impressive.
- Be an early riser. The main reason operating rooms hum into action at 7 a.m. is tied to human physiology; the bodies of patients are better able to handle the stress of surgery at that time. “People are generally better off getting work done early in the day when we’re better prepared for stress and performance,” he says. “And getting a job done early frees you up later in the day.”
- Love what you do. Why wouldn’t you want to take ownership, responsibility and pride in what you do for a living? When you treat a job as only a means to a paycheck, you are missing the point. If your job isn’t the one you’d really love to have, don’t make it worse with a negative attitude. Instead, make it your own. Make it a point of personal integrity and principle to challenge yourself to achieve something every day. After all, 40 hours a week is a long time to stay anywhere.
- Ask yourself: Did I really try my best? “I tried my best” is a common refrain from those who haven’t reached their goals. An honest response you can ask yourself is, “Am I sure?” This question is not about being overly critical. It’s simply about realizing that, if you had practiced or studied an extra 10 minutes each day, you would’ve been that much closer to your goals.
- Set specific, measurable goals. Results define Every individual should have clear goals that are objective and measurable. Goals such as “to be happy,” “to do well at work” or “to get along” are too nebulous. To be successful, you have to be able to define your goals by measurable results.
- Find the high ground. In anything you do, aspire to live up to the noblest, highest aspect of your job. Certain jobs – such as police work, firefighting, teaching or working in health care – are service oriented, so it’s easier to feel good about your contributions. Look for the contributions you’re making in your job and take pride in what you’re doing to make the world a little better.
- Be the go-to guy or girl. This takes time, practice and the confidence necessary to want the ball in a critical situation. Being the go-to guy or girl means being willing to take responsibility and risk failing. A go-to person is also willing to speak up about problems or changes necessary in a business or organization, and suggest solutions.
Robert J. Cerfolio, MD, MBA, is the James H. Estes Family Endowed Chair of Lung Cancer Research and Full Professor Chief of Thoracic Surgery at the University of Alabama in Birmingham. He received his medical degree from the University of Rochester School of Medicine, surgical training at the Mayo Clinic and at Cornell-Sloan Kettering hospital, and has been in practice for more than 26 years. The author of “Super Performing at Work and at Home,” Cerfolio, who was a First Team Academic All-American baseball player in college, is a world-renowned chest surgeon and recognized as one of the busiest and best thoracic surgeons in the world.
Thursday, October 16th, 2014
Welcome to a new issue of the GBR.
This issue includes a variety of articles written by knowledgeable authors that we believe you will find informative, insightful, and engaging.
Who were the beneficiaries of the TARP bail-outs? Dr. Joetta Forsyth has done extensive research on the TARP bail-outs and the regulatory filings and how they intersect. Her article “Did Widespread, Government-Detected Regulatory Filing Errors Predict Which Lenders Were Subsequently Bailed Out Under TARP?” is an interesting overview of how the crisis developed. The article will give you pause about who is handling your paperwork and the culture in which they are working.
Dr. John Paglia and Dr. Craig Everett along with MBA student Chanel Curry-Brooks wrote “Crafting a Strategic Financing Plan: How Business Owners Should Think About Raising Financing and Capital.” The authors note that one common oversight in financial planning is developing the proper plan to secure the right type of financing. This is a must-read for entrepreneurs, small business owners, and anyone responsible for raising capital for their business.
From finance we move to coaching and leadership. “See reality as it is, not as you wish (or fear),” is one of the suggestions for peer coaching in the article on “Developing Peer Coaching: 10 Suggestions for Success” by Dr. Robert Fulmer and John Brock. The article explains how to build a coaching culture, the “Grow Model,” and their suggestions that will not only develop better coaches, but also better leaders.
Dr. Cam Caldwell offers “6 Insights for Transformative Leaders: Keys to a Competitive Advantage.” The first key starts with listening to what really matters to discover the leader’s calling and concludes with authentic caring for the most important assets of the organization.
Friendly rivalry? Not always. In “Managing the Dark Side of Competitive Rivalry: When Competition Leads to Alarming Behavior,” Dr. David King explores when competition goes from creating better products and services at lower costs to having a negative impact on both the company and the customer.
Crowd-pleasing. Crowd-funding. Crowdsourcing? In management education? Dr. Owen Hall, Jr. explains how that occurs and the benefits in his editorial “Crowdsourcing Management Education.”
In “The Book Corner,” Dr. William Bleuel reviews two books Keeping Up with the Quants, by Thomas H. Davenport and Jinho Kim; and Customer Experience 3.0, by John A. Goodman. He gives each book 5 stars: Stop what you’re doing and read this book now! The Corner also includes my review of Mark Allen’s AHA Moments in Talent Management, an engaging fable that teaches the 13 Talent Management Principles using a story format and gives practical exercises for assessing whether your organization incorporates these principles.
If you have questions, comments, or would like to submit an article, please contact me at: nancy [dot] dodd [at] pepperdine.edu.
Wednesday, April 23rd, 2014
Welcome to the new issue of the GBR.
We believe that you will find these articles informative as well as a challenge to take a deeper look at your business life, your work life, and as it applies, to your academic life.
In this issue we have two articles on the importance of ethics in business, how business and academia can partner to improve the integrity of leadership, and the importance of ethics and integrity in academia. Check out Dr. Cam Caldwell’s article “Forging Ethics-Based Business Partners” and Dean Linda Livingstone’s article “Integrating a Spiritual Life into the Work Life.”
Yes, Dorothy, there is a PhD in Thinkology. Dr. Mark Allen shares ways that corporate universities have managed talent, retained employees, initiated more effective deployment, and prepared for succession in his article “Talent Management and Corporate Universities.”
How does an organization compare to a music composition? If you enjoy music, you will enjoy the musical metaphor Dr. David R. King and Dr. Samuel M. Demarie composed in their article “Organizational Jazz.” They will explain how the culture of music can be used to improve the organizational culture.
“To MOOC or not to MOOC, is that the Question?” Read Dr. Owen P. Hall, Jr.’s article to find out more about the impact of Massive Online Open Courses on management education.
Friday, December 20th, 2013
It is estimated that we allocate approximately 25 percent of our waking hours, about four hours a day, managing our impulses.
Thursday, October 3rd, 2013
Welcome to the new issue of the Graziadio Business Review! This issue is now available online at gbr.pepperdine.edu.
Let the Social Networking Games Begin
Gamification: The Future for Business in Hiring and Training
By Donald M. Atwater, PhD and Brian Clark, MBA
The use of social networking games for business, which is referred to as gamification, is an emerging technology. This article reports several cases where gamification has been successfully introduced in businesses and explores areas that are likely to expand in the future to improve the value of workers.
The Case of Microsoft’s Surface Tablet
Going Behind the Strategy with SWOT
By David R. King, PhD, and Todd Peterson
The applicability and relevance of SWOT analysis can be demonstrated by showing how this strategy tool can explain Microsoft’s Surface tablet. Microsoft faces increased competition from other technology firms and its core business of personal computer (PC) operating systems and software face declining demand;a SWOT analysis helps to understand Microsoft’s response.
With the U.S. and world economy seemingly climbing out of serious recession, it is time to take stock of corporations that are recovering and those that may have suffered more lasting damage. Here, the concept from the physical world, hysteresis, is applied to corporate financial statements contrasting the path of growth leading up to the recession to the path of contraction that follows.
LESSONS LEARNED: Creating Values That Work
Beyond Just Setting An Example
By Marianne Tracy, MSOD
Values are the most important features of developing organizational identity. In addition, values provide the frame for achieving organizational results. Defining values and associated behaviors provide both a focus and the glue that binds the leadership behavior and managerial culture. This article includes eight suggestions for incorporating values and behaviors into an organization?
Today, business educators are under growing pressure to engage in significant reforms due to the impacts of globalization, new learning technologies, soaring tuitions, and unprecedented economic uncertainty. The approach being adopted in many business schools is to engage faculty and students in a virtual learning experience via social media.
Click Millionaires: Work Less, Live More with an Internet Business You Love
By Scott Fox
Reviewed by Donald M. Atwater, Phd
Fate of the States: The New Geography of American Prosperity
by Meredith Whitney
Portfolio Hardcover, 2013
Reviewed by John J. Scully, PhD, CPA
Harder than I Thought: Adventures of a Twenty-First Century Leader
by Robert D. Austin, Richard L. Nolan, and Shannon O’Donnell
Harvard Business Review Press, 2012
Reviewed by Mark Allen, PhD
Technical Analysis for the Trading Professional, Second Edition: Strategies and Techniques for Today’s Turbulent Global Financial Markets
by Constance M. Brown, CMT
Reviewed by Steve Ahn and Alexander Frumkin
We hope you will enjoy this issue.
Topic: GBR News
Monday, September 16th, 2013
The Graziadio Business Review published “The Case of Microsoft’s Surface Tablet: Going Behind the Strategy with SWOT” in 2013 Volume 16, Issue 2, an article by David R. King, PhD, and Todd Peterson. This post contains some updated thoughts.
The analysis examining “The case of Microsoft’s Surface Tablet” was developed in the Spring of 2013, but the predictive ability of SWOT analysis is borne out by current events with Steve Ballmer announcing his retirement and Microsoft’s purchase of Nokia’s mobile division. The purchase of Nokia’s mobile division was enabled by the financial assets of Microsoft highlighted by the article, and it fills two strategic needs.
First, it provides additional impetus to Microsoft’s shift to mobile computing. The increased sales of smartphones and tablets have largely come at the expense of PCs running Windows. The development of Windows 8 as a bridge project has not been widely accepted by the marketplace, and better integration of software with hardware by Microsoft is needed. Nokia’s mobile division has experience with hardware and designs 80 percent of the smartphones using Microsoft’s operating system. A disadvantage of this approach is that it commits Microsoft to sell hardware in market dominated by Google and Apple. It also reduces the probability that other manufacturers will design mobile devices for Windows. Reduced adoption by other manufacturers can be expected, because Microsoft will now be directly competing with them and asking them to pay a licensing fee for its software (at the same time Google offers Android for free).
Second, the strategic shift required of Microsoft requires an experienced leader, and turnover in senior leaders below Steve Ballmer compound the challenge of selecting someone to replace him. The purchase of Nokia’s mobile division also brings back Stephen Elop, an experienced Microsoft executive, who has to be considered a front runner to replace Steve Ballmer. Acquisitions are fraught with risk, but having a CEO familiar with both Microsoft and Nokia should help the process and increased importance of mobile computing on Microsoft’s future.
In summary, the need for a strategic shift at Microsoft has been clear for months and Microsoft is beginning to make needed changes. It will be interesting to see how these changes continue to develop and how successful Microsoft is in adjusting to market demands, integrating Nokia, and transitioning to a new leader.
Wednesday, March 20th, 2013
As I outlined in my Three Part MBA Philanthropy Series, alumni are a critical financial component to business schools. However, alumni can contribute in many other ways. In addition to providing financial support to their alma mater, alumni also play an equally important role in pre-student recruiting and job placement.
Why is pre-student recruiting important? Today, business schools are facing both intense competition and demanding customers. These forces tend to drive up the cost of student acquisition and retention. MBA programs are indeed influenced by their stakeholders. More and more, the student is being treated as a customer, and student and alumni satisfaction have become key metrics to school rankings. At the same time, the student is also a product. Student seats are a perishable resource just like airline seats or hotel rooms. Once the school term starts, an unfilled seat equates to lost revenue.
Therefore, to increase student acquisition, we must expand our global reach. One way to do this is through strategic business partnerships with international schools. These partnerships will expand Graziadio’s global educational opportunities, enhance our brand, leverage complementary strengths, and increase flexibility and convenience for students.
Management education alliances, among other things, provide the vehicle for the virtual exchange of both students and faculty. Imagine a situation where a student is looking for an elective, but it is not being offered at their home institution at a convenient time or place. The student could instead register at a partner school that is offering a similar course. The same could apply to the faculty.
For example, in Fall 2010, I took a special residential offering at the West LA Graduate Campus called Managing Business with China. This course, among other things, allowed me to connect with reputable faculty and speakers from China that I would not have been able to do so otherwise because of time demands from work. Similar initiatives will spur increasing opportunities for connecting graduates to the global business community.
Recent data show that management education is currently undergoing a paradigm shift from a teacher-centric process to a learning-centric environment that focuses on customized learning. This transformation is being fueled by the need to produce educated leaders that can compete on a global basis.
As alumni, our degree is what we make of it. We are called to contribute to Graziadio’s legacy in terms of our time, talent, and treasure not only to merely increase our own degree’s ROI, but also so that this legacy can continue for future generations. In order to impact our MBA ROI, we must remain competitive, and in order to remain competitive, we must reach a global audience. This will allow us to attract the most talented students, translating into huge, quantum leaps in impact AND financial support for Graziadio.
Every organization is perfectly designed to get the results it’s getting. If we don’t like our results, it implies we must change the design. It’s time to follow the data and change the design.
Friday, February 15th, 2013
Recent data from the Pepperdine Private Capital Market Project revealed that 88% of privately-held businesses with revenues less than $5 million want to execute growth strategies, but they typically have lower levels of necessary resources, such as the people or finances, to grow compared to privately-held businesses with higher revenues.
Eager to grow, but lacking the means, many small-businesses owners have turned to friends and family for funding. Pepperdine Private Capital Market Project research from Q1 2012, shows that 71% of businesses with less than $5 million in revenue were successful in securing funding from friends and family – the No. 1 source from among 17 lending categories.
Now some business owners may be tempted to use their homes as collateral. With the recent spike in home prices this option may seem even more appealing.
In mid-January, real estate firm DataQuick reported that home prices nationwide increased 7.4% year-over-year and in Southern California the median home price rose 19.6% in December over the same month last year to hit $323,000. San Bernardino and Riverside counties posted the strongest year-over-year increases, up 20.0% and 19.1%, respectively, indicating that the once hard-hit Inland Empire is now recovering.
Certainly, there will be some businesses that are able to take advantage of the increase in home prices to grow their operations. This should bode well for states like California where the concentration of small businesses is higher. However, before home owners get too optimistic here are a few things to consider:
• Many banks are still hesitant to fund via home equity lines. While there will be some increased access to funding, it will not nearly be in line with what we saw pre-financial crisis.
• Even as access to home equity loans increases it may not be the best decision to use home equity as collateral. Many entrepreneurs forego a job to start their venture and piling on additional financial risk in the way of home equity further increases their risk profile. But, entrepreneurs don’t see “risk” as clearly as those sitting on the sidelines. This optimism leads to many successes, but even more failures and disappointments.
• If you operate your business out of your residence, your home or personal assets may be considered collateral for a loan. However, in the event of inadequacy of collateral, the Small Business Administration will generally not decline a loan if it is the only unfavorable factor.
Whether or not small business owners use their home equity as collateral is a personal decision and will vary from situation to situation. In order for business owners to increase their prospect of securing capital they should make sure they know about the different types of private capital (i.e. angel funding vs venture capital vs private equity) that are available. While these sources of capital are not for everyone, raising small business owner’s knowledge of capital classes will help them make informed and effective decisions.
Business owners should also have a well-written business plan as well as personal experience or solid mentorship in the industry they are entering. Part of this business plan should include understanding the criteria that are needed to attain financing from different sources. This will help streamline the process by eliminating the funding sources that are not attainable or not the best fit for business owners.
Monday, November 26th, 2012
Present age organizations face a very complex and uncertain environment. In order to remain innovative and viable in the long run, many organizations are turning to “intrapreneurship.” However, what is intrapreneurship? How different it is from entrepreneurship? What can an organization do to promote intrapreneurship?
In the Graziadio Business Review article “Implementing Intrapreneurship: A Structural and Cultural Approach” the difference between entrepreneurship and intrapreneurship is first illustrated by defining the two terms formally. Entrepreneurship refers to the process of creating innovative new business ventures or just of creating new business ventures. An entrepreneur is the owner of such a business venture.   Intrapreneurship refers to the process of new venture creation, strategic renewal, and innovation by employees within an organization. Intrapreneurs, then, are the employees of an organization who realize a creative idea and turn it into an innovation or new business venture.  
Then, the GBR article devotes the majority of its main content to the discussion of what an organization can do to promote intrapreneurship. Research has shown that given the right environment and amount of support, many employees can become intrapreneurs. To encourage intrapreneurial activities, it is proposed in the article that organizations have to make sure that the top management creates a clear vision that promotes and encourages innovation and communicates it clearly to all employees. In addition, support from all managers in an organisation is also necessary.
Next, to encourage intrapreneurship, an organization has to adopt either an organic structure, or to set up an independent intrapreneurial team or department, depending on each organization’s context and needs. In addition, the organization must also take measures to achieve a culture that is characterised by high trust and psychological safety, high justice and fairness, and high error and failure tolerance. Together, these organizational features shall form a solid foundation for intrapreneurship, and a cornerstone for organizational competitiveness.
 Gartner, W. B., “‘Who is an Entrepreneur?’ is the Wrong Question,” Entrepreneurship Theory and Practice, 12, no. 2 (1989): 47-68.
 Davidsson, P., Researching Entrepreneurship, (New York: Springer, 2004).
 Gartner, W. B., “What Are We Talking About When We’re Talking About Entrepreneurship?” Journal of Business Venturing, 5, no. 1 (1990): 15-28.
 Rauch, A., and M. Frese, “Let’s Put the Person Back into Entrepreneurship Research: A Meta-Analysis on the Relationship Between Business Owners’ Personality Traits, Business Creation, and Success,” European Journal of Work and Organizational Psychology, 16, no. 4 (2007): 353-385.
 Sharma, P. and J. J. Chrisman, “Toward a Reconciliation of the Definitional Issues in the Field of Corporate Entrepreneurship,” Entrepreneurship Theory Practice, 23, no. 3 (1999): 11-27.
 Anderson, N. R., and M. A. West, “Measuring Climate for Work Group Innovation: Development and Validation of the Team Climate Inventory” Journal of Organizational Behavior, 19, no. 3 (1998): 235-258.
 Frederick and Kuratko.
 Hulsheger, U. R., N. Anderson, and J. F. Salgado, “Team-Level Predictors of Innovation at Work: A Comprehensive Meta-Analysis Spanning Three Decades of Research” Journal of Applied Psychology, 94, no. 5 (2009): 1128-1145.