Knowledge at Wharton

The sales associate noticing the approach of a customer is suddenly intent on restocking merchandise or discussing when she will take her next break -- anything to avoid actual contact with the shopper. It’s the type of behavior that dominates the list of complaints cited in the second annual Retail Customer Dissatisfaction Study. The study conducted by Wharton’s Jay H. Baker Retail Initiative and the Verde Group found that disinterested ill-prepared and unwelcoming salespeople lead to more lost business and bad word-of-mouth than any other management challenge in retailing.

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In Homer’s poem ”The Odyssey ” Odysseus had a tough time finding his way home after the Trojan War what with all those monsters threatening to derail his journey. But Odysseus at least had left a wise and trusted fellow named Mentor to be the guardian and teacher of his son Telemachus. Modern employees need mentors as much as Telemachus especially in these times of upheaval. In fact mentoring is just as important as ever for younger workers -- and for organizations themselves -- according to experts at Wharton and elsewhere.

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The average person according to the experts makes 200 food-related choices a day. Actually make that 201 choices. Courtesy of a new campaign by a leading restaurant chain diners who are used to choices that make their meals bigger can now actually choose to order portions that are significantly smaller. This spring T.G.I. Friday’s announced what it called an ”unprecedented move in the casual dining industry” when the restaurant chain began offering smaller portions at lower prices for select dishes. The question now becomes: Will consumers bite? Or in this case bite less?

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In a perfect world there would be faster computers less lower back pain more accurate ways to detect the warning signs of a heart attack and even better-fitting business attire for female executives. And that would mean more comfort and time to enjoy the sweet things in life like a gourmet chocolate bar. If the ”Eight Great” finalists in the 2006-2007 Wharton Business Plan Competition -- who recently competed for more than $70 000 in prize money -- are able to achieve their entrepreneurial schemes the world would indeed become such a place. Knowledge at Wharton summarizes the presentations and announces the winners.

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This spring Wharton and the Penn law school hosted 37 professional women from the Middle East for a four-week legal and business fellowship program funded by the U.S. Department of State Middle East Partnership Initiative and supported by America-Mideast Educational and Training Services (AMIDEAST). The women studied management and business skills at Wharton executive education and legal skills at the law school. Knowledge at Wharton asked three women from the program to talk about their experiences in the U.S. as well as in their home countries including their views on such topics as workplace ethics business opportunities for women and the role of Islam in society.

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A key element of what has been called ”web 2.0” -- along with ideas such as user-generated content and social networks -- is the concept of ”rich Internet applications ” which use the web as a platform for innovative types of online experiences. A new generation of Internet-connected applications is beginning to emerge led by such companies as Adobe Systems. Knowledge at Wharton recently interviewed Adobe president and COO Shantanu Narayen about the company’s latest product introductions. In the second part of this interview published in India Knowledge at Wharton Narayen talks about the key role that India will play in the company’s global growth strategy.

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Trying to predict the next hit -- whether it’s an independent horror film a new recording group or a popular video game -- entails a high amount of risk in an industry that has been turned upside down by the Internet and the reconfiguration of longstanding distribution channels according to panelists at the recent 2007 Wharton Economic Summit. For that reason they noted many of the most successful equity players in Hollywood tend to look for broad-based venues -- a comprehensive film library vs. one director’s avant-garde film for example -- as the best investment vehicles for an industry in transition.

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Although mammoth executive compensation packages at hedge funds -- hundreds of millions of dollars a year for some managers with a select few topping $1 billion -- have recently been disclosed in the business press public outrage over soaring CEO pay has been growing for years. Do executive compensation figures reflect an efficient market or a failed one? Are pay levels adequately disclosed? Should shareholders have more say? And if top executives are overpaid what’s to be done about it? Executive compensation was the subject of a panel at the 2007 Wharton Economic Summit.

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The world of pro sports may look a lot more exciting than life in the office but in reality -- when you strip away the glamour and media attention -- the bottom line for success is not too different on the playing field than it is in the business world. Character is what counts the most whether you are scouting for a new quarterback in the NFL draft or hiring a young commodities trader. That was the message from top sports executives who participated in a 2007 Wharton Economic Summit panel called ”Leadership Lessons Learned from Sports ” sponsored by the Wharton Sports Business Initiative.

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While many Americans are worried that real estate prices have flattened and may even turn downward some of the country’s top commercial developers say there always is opportunity for those who manage their projects efficiently in a global market focus on areas with growing demand and have the staying power to wait out the downturns. This was the consensus of a 2007 Wharton Economic Summit real estate panel which included executives from Apollo Real Estate Advisors Sherwood Equities and Morgan Stanley’s Direct Investing Group.

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