Bi Annual Report 09

............................................... Annual Report 2008-2009

Batten Institute ................................... The Batten Institute at the University of Virginia’s Darden School of Business is an academic research center dedicated to advancing knowledge about entrepreneurship and innovation. Modeled after the world’s leading research organizations, the Institute generates high-impact and practical insights for both scholars and managers about entrepreneurial phenomena. To achieve this objective, the Institute provides funding and other support for faculty research, research fellows, research assistants, and a wide array of outreach and publishing activities.

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Mission

The Batten Institute is committed to the creation and dissemination of knowledge about the transformative power of entrepreneurship, motivated by the belief that entrepreneurship and innovation are powerful mechanisms for addressing society’s most critical challenges.

To fulfill this mission, the Institute: Supports a diverse portfolio of research initiatives that have clear, practical implications for business and society; Engages leaders and scholars through the regular publication of books, articles, reports, case studies, and white papers; Fosters a dynamic community of scholars, practitioners, and students who share ideas and insights through conferences, workshops, colloquia, and other high-engagement activities.

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Contents ................................... Batten Institute................................................................................................................2 Mission...........................................................................................................................3 A Legacy of Entrepreneurial Leadership: Frank Batten, Sr. (1927-2009)..........................5 Letter from the Executive Director..................................................................................6 Initiatives.............................................................................................................8

Research Support.................................................................................................9



Batten Fellows....................................................................................................10



Intellectual Capital.............................................................................................11

Outreach......................................................................................................12

Awards and Recognition.....................................................................................13

Endowment Funding....................................................................................................14 Administration..........................................................................................................15 Contact..............................................................................................................16

A legacy of entrepreneurial leadership:

Frank Batten, Sr. (1927-2009)

.................................... The Batten Institute honors the legacy of Frank Batten, Sr., who will be remembered for his extraordinary generosity, his abiding commitment to education, and his unparalleled entrepreneurial energy and vision. Mr. Batten, a media pioneer and philanthropist, died September 10, 2009, in Norfolk, Virginia.

Mr. Batten was the chairman and CEO of Landmark Communications, Inc., a privately held media company based in Norfolk, Virginia, with newspaper, broadcast, telecommunications, and Internet marketing holdings. Under his leadership, Landmark achieved notable success when it launched the Weather Channel in the early 1980s, which it later expanded internationally. Its companion Web site, Weather.com, became one of the top 15 Internet sites, receiving more than 36 million hits a month. In 2008, Landmark sold the Weather Channel to NBC Universal. Frank Batten, Sr. stepped down as chairman and CEO of Landmark Communications in 1998, when his son, Frank Batten, Jr., became board chairman. An entrepreneurial thinker who was dedicated to supporting education, Frank Batten, Sr. served on the boards of numerous colleges in Virginia and on the State Council of Higher Education. He gave generously to schools and other institutions, including $32 million to the Harvard Business School and various scholarships such as the Batten Scholarship at the Culver Academies. As one of the University of Virginia’s most loyal supporters, Mr. Batten gave $60 million to the Darden School of Business, where he served as a trustee of its foundation, to create the Batten Institute. In 2007, he made a gift of $100 million to the University, the largest in the University’s history, to establish the Frank Batten School of Leadership and Public Policy. As the benefactor of the Batten Institute, Mr. Batten envisioned the creation of a community of scholars, business practitioners, and students drawn together by a shared belief in the transformative power of entrepreneurship and innovation. The Institute is proud to continue its work toward that vision and its stewardship of Mr. Batten’s extraordinary gift.

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A letter

................................... from the executive director

Ever since the onset of the global financial meltdown in late 2007, management theorists, policy makers, and business leaders have been struggling to find new solutions to an overwhelming number of critical problems. At the Batten Institute, we have always believed that entrepreneurship and innovation hold the potential to provide those solutions. Therefore, during this difficult period of upheaval and economic distress, we have remained even more deeply committed to supporting research that illuminates the possibilities for growth and renewal through value creation. We have sharpened our research focus, engaged a broader community of scholars and thought leaders, furthered our impact through publications, awards, and outreach, and raised awareness of the Institute’s achievements through an ambitious visibility campaign. Central to the Batten Institute’s mission is the support of relevant and novel academic research that explores the transformative potential of entrepreneurship and innovation. This year we increased that support by funding nearly 20 new projects proposed by diverse members of the Darden faculty. We are particularly proud of this robust research agenda since it resulted from a new and rigorous research-grant process, overseen by a committee of Darden faculty. This year Batten-funded research has been undertaken by scholars from across Darden’s academic disciplines, including strategy, entrepreneurship, economics, accounting, operations, and finance. In addition, we continued to foster a vibrant community of thought leaders this year with the induction of four new research fellows through the Institute’s prestigious Batten Fellows program. If the funding of research represents the inputs for the Institute’s success, then the outputs can be measured by the impact and visibility of the ideas generated by that research. Throughout the year, numerous Darden faculty affiliated with the Batten Institute earned recognition for their excellence as scholars and thought leaders. In addition, we maintained a steady stream of publications in the form of research articles, case studies, and books. This past year, the Institute also continued to develop its infrastructure to help bring international visibility and recognition to its sponsored research and events. These efforts included a tencity faculty tour, the launch of a new Web site, and the establishment of an ongoing sponsorship of national programming for public radio.

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During the year ahead, we will amplify our activities in dramatic new ways. Among other plans, we are hiring a new Associate Director of Outreach to help the Institute engage even more deeply with many of its most important constituencies through conferences, speaking tours, and the development of media and com-

.................................... munications channels. In order to extend the impact of the Institute’s original research, we will also launch a series of in-depth reports, which will be a newly imagined version of the Batten Briefings. These reports will address key issues in entrepreneurship and innovation, and they will explore their impact at the intersection of business and society. In addition, we expect to be even more fully engaged with the corporate community in our ongoing exploration of value creation in the corporate sector. This past academic year marked a period of transition and steady progress toward our goal of establishing the Batten Institute and the Darden School of Business as a beacon of thought leadership. Toward the end of this very successful and productive period, however, we were saddened by the loss of Frank Batten, Sr., a gifted leader who provided the vision and resources to establish both the Institute and a host of other entrepreneurship-related activities at the Darden School. Mr. Batten was a man of great energy, intelligence, and talent, which was matched only by his personal humility. We mourn his passing, but in his spirit we will carry on with the work of generating knowledge about entrepreneurship and of educating the next generation of entrepreneurial leaders.

Sincerely,

Michael J. Lenox Associate Dean and Executive Director, Batten Institute Samuel L. Slover Professor of Business Administration

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Initiatives ................................... Each year the Batten Institute supports a diverse portfolio of research initiatives that illuminate how entrepreneurship and innovation can address today’s most critical issues in business and society. During the 2008-2009 academic year, the Institute’s portfolio of entrepreneurshipand innovation-related research, publications, and outreach activity was allocated among four broad areas of public concern: Organic Growth

Shrinking markets, unrelenting competition, and swiftly evolving technologies challenge the vitality of every business enterprise, large or small. As a consequence, the need for innovation that can drive a firm’s growth has never been more pressing. Firms that have exhausted various growth strategies — mergers and acquisitions, process re-engineering, cost-cutting initiatives — recognize that continued success, or perhaps even survival, depends on generating new value from within. The Batten Institute’s Innovation and Organic Growth Initiative examines how innovation can be the engine for sustained, internally generated business growth.

Emerging Markets

New businesses are crucial for the sustained economic development of the world’s emerging regions. Entrepreneurs — the enterprising individuals who conceive of and launch new businesses — and a culture that encourages risk taking and creativity are therefore essential to their growth and prosperity. The Batten Institute’s Entrepreneurship in Emerging Markets Initiative supports research projects focused on entrepreneurs and the ingredients of entrepreneurship in emerging regions around the world: seed-stage capital, mentors, sound social institutions, and a culture that welcomes new ideas and educates and supports those who pursue them.

Sustainability

There is growing acceptance that business can play a constructive role in addressing global issues of sustainability. Today, both entrepreneurs and innovators working within established enterprises are dedicating themselves to discovering market-driven solutions to the world’s most pressing problems. The central question surrounding these efforts is, under what circumstances can business firms successfully innovate a path toward a sustainable future? The Institute’s Sustainability Initiative focuses on the mechanisms by which entrepreneurship and innovation can simultaneously drive a firm’s market success and discover sustainable solutions to societal challenges.

Health Care

Although U.S. policy makers, medical professionals, and health care consumers may not agree on a single solution, all agree that the country’s health care system is not working. The costs of care are skyrocketing, the quality of care in many instances is decreasing, and millions of Americans cannot afford basic health insurance. The Batten Institute’s Health Care Initiative supports research that reflects the need for novel approaches to this seemingly intractable problem. 8

Research support .................................... The Batten Institute provides resources to Darden faculty whose research addresses entrepreneurship and innovation. This support is intended to facilitate the research process by underwriting a variety of research-related expenses, including data collection, analysis, software, subscriptions, travel, and modest honoraria for collaborators. Through this year’s newly updated Batten Research Grant program, the Institute provided funding for nearly 20 faculty projects to be completed during the course of the academic year. In addition, the Institute maintains a team of research associates, research assistants, case-writers, analysts, and doctoral students, all of whom lend their talents to a range of projects in ways that heighten scholarly productivity. The following table provides examples of this year’s funded projects:

Batten-Funded Research Grants Principal Investigator

Co-Investigator

Chao, Raul

Academic Area

Project Name

Operations

Organizational Structure and Incentives Complexity, Instability and Innovation Portfolio Management

Chao, Raul

Loutskina, Elena

Operations, Finance

Davidson, Martin

Fairchild, Greg

Entrepreneurship

Minority Entrepreneurship

Hess, Edward

Entrepreneurship

Managing Growth in Small- to Medium-Sized Businesses

Larson, Andrea

Strategy, Entrepreneurship

Clean Energy and Sustainability Innovations

Lenox, Michael

Chao, Raul

Strategy

The Division of Innovative Effort: How to Manage a Portfolio of Innovation

Lenox, Michael

Frank, Mary Margaret

Strategy

Policy Drivers of the Direction of Innovative Activity: The Role of Tax Credits

Li, Wei Teisberg, Elizabeth

Wallace, Scott

Global Economies and Markets

Entrepreneurship and Clustering in China

Strategy

Comparative Effectiveness and Innovation in Health Care



(expected completion: FY 2009-2010)

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batten fellows ................................... The Batten Fellows program brings renowned thought leaders to Darden to conduct original research with faculty and to enrich the Darden and UVA communities through other activities. In 2008-2009, the Institute sponsored four new Fellows:

Stylianos Kavadias

Associate Professor of Technology and Operations Management Georgia Institute of Technology’s College of Management

Batten Fellowship Project:

Independent Consultant

Batten Fellowship Project:

Organization Structure, Incentives, and the Innovation Portfolio

Sustainable and Responsible Global Leadership

Kavadias, whose research focuses on new-product development and technology management, is working with Darden Professor Raul Chao on field research that examines innovation processes in large companies. Of particular interest to them is how companies decide which ideas to pursue, how to allocate resources among new-product initiatives, and how to deal with radical new ideas that have no data to prove their worth. From extensive interviews with managers in large companies, Kavadias and Chao hope to develop a framework that helps managers align organizational design, resource allocation, and the firm’s innovation portfolio.

Michel Schlosser, who is known for his work helping companies design and support major transformational processes, is researching how major international companies are addressing the challenges of sustainable and responsible global leadership. The goal of this project—in which Schlosser and Darden Professor Sherwood Frey are investigating the drivers, risks, and success factors in a sampling of global players—is to identify the capabilities that executives need in order to play a leadership role in today’s global business arena.

Tony Golsby-Smith

Founder and CEO, Second Road

Batten Fellowship Project:

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Michel Schlosser

Scott Wallace

Former President and CEO National Alliance for Health Information Technology

Batten Fellowship Project:

Using Strategic Conversations to Generate Corporate Innovation

Employer Initiatives in Redefining Health Care

Tony Golsby-Smith, an Australia-based consultant who helps organizations with large-scale change, strategic thinking, communication, and the design of environments that promote new ideas, is exploring conversational methods and tools for executives to help prime the development of strategic innovations. With Darden Professor Ryan Quinn, Golsby-Smith is investigating such topics as conversational practices, visualization, and the integration of conceptual networks with social networks.

Scott Wallace, an internationally recognized expert on health information technology, privacy, and the transformation of health care delivery, is collaborating with Darden Professor Elizabeth Teisberg on research into the role of employers in transforming health care. Employers bear tremendous costs—including absenteeism and lost productivity—as a result of employees’ poor health. Wallace and Teisberg are conducting field research with leading employers, providers, and health plans that are finding innovative ways to improve employees’ health while lowering costs.

intellectual Capital .................................... In 2008-2009, Batten-supported researchers continued to build an impressive publishing record, producing 16 academic articles, three books, 13 teaching cases, and two multimedia teaching cases. Complete listings can be found at www.batteninstitute.org. The following is a sampling of this year’s output: Academic Articles

Multimedia Cases

Chao, R. and Kavadias, S., “A Theoretical Framework for Managing the New Product Development Portfolio: When and How to Use Strategic Buckets,” Management Science 54, no. 5

“Strategic Connections: An Introduction to Organizational Network Analysis” (UVA-OB-0992M) Rob Cross

Fairchild, G., “Residential Segregation Influences on the Likelihood of Being Self-Employed,” Entrepreneurship Theory and Practice 33, no. 2 Lenox, M., “Diffusing Management Practices within the Firm: The Role of Information Provision,” Harvard Business School Technology & Operations Mgt. Unit Research Paper 08-085 Ramdas, K. and Randall, T., “Does Component Sharing Help or Hurt Reliability? An Empirical Study in the Automotive Industry,” Management Science 54, no. 5 Sarasvathy, S., Dew, N., Read, S., and Wiltbank, R., “Designing Organizations that Design Environments: Lessons from Entrepreneurial Expertise,” Organization Studies 29, no. 3 Wiltbank, R., Read, S., Dew, N., and Sarasvathy, S., “Prediction and control under uncertainty: Outcomes in angel investing,” Journal of Business Venturing 24, no. 2

In 2008-2009,

Darden completed its 14th year as the home of the Journal of Business Venturing (JBV), arguably the premier scholarly journal devoted to entrepreneurship and innovation. Ranked by the Social Science Citation Index as one of the most influential sources of ideas, JBV’s impact factor was 1.875–higher than the Harvard Business Review. Awardwinning Darden professor S. Venkataraman has served as JBV’s editor-in-chief, and the Batten Institute continues to provide logistical and financial support.

Teaching Cases “Strategic Connections: Using Social Networks to Restructure the IT Department at MWH” (UVA S-0112) Rob Cross “United States Patent and Trademark Office: Closing the Gap on Pendency in Class 705 Business Methods” (UVA-OM-1358) Raul Chao “The Dime that Started a Movement: The History and Development of Credit Unions” (UVA-ENT-0103) Greg Fairchild “Finding Its Niche: Community Development Venture Capital” (UVA-ENT-0111) Greg Fairchild

Books

The Catalyst: How You Can Become an Extraordinary Growth Leader Jeanne Liedtka, Robert Rosen, and Robert Wiltbank Crown Business, 2009

Effectuation: Elements of Entrepreneurial Expertise Saras D. Sarasvathy Edward Elgar, 2008

Entrepreneurship in Emerging Regions Around the World: Theory, Evidence, and Implications Phillip H. Phan, Sankaran Venkataraman, and S. Ramakrishna Velamuri (eds.) Edward Elgar, 2008

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Outreach ................................... The creation of new knowledge would have little practical value if it did not offer useful and timely insights for managers, entrepreneurs, and policy makers. Therefore, the Batten Institute strives to serve a translational role between academic scholarship and practice.

Practitioner Outreach 2008-2009

Alumni Receptions

180

Organic Growth Lecture Series

440

Social Sector Innovation Conference

0

100

350 200

300

400

500

The Institute provides this translation though numerous channels, including mainstream media, high-visibility reports, non-academic articles, books, pioneering teaching cases, executive education, and thought-provoking conferences, workshops, and lecture series. The chart here provides a few examples of the outreach activities supported by the Institute that have had an impact on managerial thinking about entrepreneurship and innovation in 2008-2009. To further raise the visibility of its scholarly contributions this year, the Batten Institute sent its executive director on a ten-city national publicity tour and continued its engagement with the media through its New York-based public relations firm. The Institute also initiated a bi-weekly sponsorship of Marketplace, a highly-rated business news program that airs nationally on many public radio stations in all major U.S. markets.

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In addition to these Webbased outreach efforts, in on 2008-2009 the Institute began to take advantage of social networking opportunities. Through its site on Twitter.com, the Institute gains yet another channel for communicating with researchers and business professionals about its activities and for participating in the larger community of entrepreneurship and innovation thought leaders. BATTEN INSTITUTE

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UVA Venture Summit

In an effort to maintain a fresh and up-to-date presence online, the Institute also developed a redesigned and re-launched Web site this year. Through an engaging new design, the site, www.batteninstitute.org, welcomes visitors into the rich life of the Institute, providing many opportunities to connect with members of the broad Batten community and beyond. The site features general information about the Institute’s major initiatives as well as brief articles on the latest projects sponsored by the Institute, profiles of Batten-affiliated researchers and professionals, links to academic articles and teaching cases, and listings of news and events.

Awards and recognition .................................... This past year, faculty affiliated with the Batten Institute continued earning accolades and attention for their contributions to the fields of entrepreneurship and innovation: 2008 IDEA Award for Foundational Research: Awarded to S. Venkataraman (Venkat), MasterCard Professor of Business Administration, by the Entrepreneurship Division of the Academy of Management, the world’s largest body of management educators. Venkat received the award, which recognizes work that “serves as a legacy for scholarly work in the field,” for his 1997 paper “The Distinctive Domain of Entrepreneurship Research.”

2008 Falcone Distinguished Scholar in Entrepreneurship: Saras Sarasvathy, Isadore Horween Research Associate Professor of Business Administration, was honored by the Whitman School of Management at Syracuse University. Sarasvathy received this recognition, given annually by the Whitman School’s Falcone Center for Entrepreneurship, for her work on the cognitive basis of high-performance entrepreneurship.

2009 Emerging Scholar Award: Mike Lenox, Associate Dean and Executive Director of the Batten Institute, received this recognition from the Strategic Management Society. Lenox, who studies issues of environmental sustainability at the interface of public policy and business strategy was chosen to receive this award on the basis of his research productivity, contributions to the field, and his potential for the future.

Top 100 Under 50 Diverse Executive and Emerging Leaders: Greg Fairchild, Associate Professor of Business Administration and Executive Director of the Tayloe Murphy Center, was chosen by Diversity MBA magazine, which cited Fairchild’s multiyear research project, funded by a grant from the John D. and Catherine T. MacArthur Foundation, on the evolution and best practices of community-development finance in underserved areas.

2009 Faculty Pioneers: Greg Fairchild and Mike Lenox were both selected for this honor by the Aspen Institute’s Center for Business Education. The award, which the Financial Times calls the

“Oscars of the business school world,” recognizes “instructors who have demonstrated leadership and risk-taking in integrating ethical, environmental, and social issues into the MBA curriculum.” In addition to these scholarly awards, Darden faculty whose research addresses entrepreneurship and innovation were cited over 60 times in major mainstream media outlets in 2008-2009. This coverage, which included stories in the Wall Street Journal, the Financial Times, BusinessWeek, Forbes, and the New York Times, demonstrated that the Batten Institute continues to be a conduit for thought leadership in entrepreneurship and innovation in ways that are relevant to a broad and influential audience.

Media Coverage (Citations): 62 Includes: The Wall Street Journal, The New York Times, Forbes, Financial Times, BusinessWeek, Inc.com, NPR, Fox News, Fast Company, Entrepreneur Magazine

Batten-affiliated experts were also called on to participate in the national debate on health care reform. In January 2009 Darden Professor Elizabeth Teisberg testified before the U.S. Senate Committee on Health, Education, Labor, and Pensions, where she addressed the urgent need to focus not just on cutting costs but on increasing value for all participants in the health care system. In May 2009 Batten Fellow Scott Wallace offered his views during a listening session of the Federal Coordinating Council for Comparative Effectiveness Research, intended to solicit ideas for how to spend the $1.1 billion allocated for comparative-effectiveness health care research in the American Recovery and Reinvestment Act of 2009. Wallace called for a research focus on health outcomes instead of on procedures and medications.

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Endowment Funding ................................... As of July 2008, the market value of the endowment provided by Frank Batten, Sr. had reached approximately $90 million, which generated a $4.8 million annual budget for all entrepreneurship- and innovation-related activities at Darden for the 2008-2009 academic year. These funds were allocated across four main areas: Batten Endowment

MBA Activities

Budgeted Distribution of Funds Fiscal Year 2008-2009

These include all courses and experiential activities in entrepreneurship and innovation, and collectively comprise the Darden Entrepreneurship Program. This program includes various entrepreneurial competitions, “boot camps,” a business incubator, a venture internship program, and other opportunities for connecting Darden MBAs with the regional and national venture community.

MBA Activities

19%

MBA Scholarships

Batten Institute

16%

39%

MBA Scholarships

These are full- or partial-tuition replacement for incoming Darden MBA students who have demonstrated excellence in their commitment to entrepreneurship and innovation in their careers and who intend to continue their pursuit after earning an MBA from Darden. During the 2008-2009 year, 20 scholarships were provided through the Batten endowment.

Faculty Support

This refers to direct funding for faculty members with expertise in entrepreneurship and innovation. For the 2008-2009 academic year, the endowment provided either full or partial faculty salary support for six scholars, representing 10% of Darden’s tenured and tenure-track faculty.

Faculty Support

26%

Batten Institute

Budget Allocation (Actual) Academic Year 2008-2009 Ph.D. Students 4%

Research Assistants 24%

Batten Fellows 4% Outreach and Visibility 17% Administrative Costs 5%

Batten Institute

Funding for the Batten Institute is roughly 40% of the annual draw from the Batten endowment. For the 2008-2009 academic year, the endowment provided the Institute with an annual budget of $1.9 million, which was allocated for the following research-related activities: Research Grants, Research Assistants, Ph.D. students, Batten Fellows, Outreach and Visibility, Administrative Costs, and Staff.

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Research Grants 20%

Staff 26%

Administration .................................... Sean Carr

Gayle Noble

B.A., Northwestern University; M.S., Columbia University; M.B.A., University of Virginia

Pan American Business School

Malgorzata “Gosia” Glinska

Elizabeth O’Halloran

B.A., University of Gdansk, Poland; M.A., Boston University; M.F.A., University of Virginia

B.A., Haverford College; M.B.A., University of Virginia

Director, Corporate Innovation Programs

Senior Researcher

Amy L. Halliday Managing Editor

A.B., Brown University; M.Phil., University of Oxford

Andrew King

Office Manager

Managing Director and Director of Intellectual Capital

Darden Entrepreneurship Program* Philippe Sommer

Director, Entrepreneurship Programs Director, Darden Incubator B.A., Amherst College; M.B.A., Columbia University

Researcher

B.A., The University of the South; M.S., Oxford Brookes University

Michael Lenox

MJ Dougherty Toms

Assistant Director, Entrepreneurship Programs B.A., Williams College; M.B.A., Yale University

Associate Dean and Executive Director, Batten Institute Samuel L. Slover Research Professor of Business B.S., M.S., University of Virginia; Ph.D., Massachusetts Institute of Technology

*

Like the Batten Institute, Darden’s Entrepreneurship Program is funded by the Batten endowment; however, the budget for the Entrepreneurship Program (MBA-oriented entrepreneurial activities) is separate from the budget for the Batten Institute (research and intellectual capital).

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Contact

................................... MAILING ADDRESS Batten Institute The Darden School of Business University of Virginia P. O. Box 6550 Charlottesville, VA 22906-6550

COURIER ADDRESS Batten Institute The Darden School of Business University of Virginia 100 Darden Boulevard Charlottesville, VA 22903

PHONE 434.924.1335

FAX 434.924.7104

EMAIL [email protected]

WEB www.batteninstitute.org

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Batten Fellows 2000-2009 Since the launch of the Batten Fellows program in 2000, the Institute has hosted over 60 leading scholars and other thought leaders in business to conduct cutting-edge research related to entrepreneurship and innovation. Batten Fellows, who are nominated by members of Darden’s scholarly community and receive appointments without term, spend their time in residence participating in the life of the Darden School to generate new intellectual capital. Below is a complete list of Batten Fellows and their areas of focus. For detailed descriptions of their research, visit www.batteninstitute.org.

................................... Braden R. ‘Brad’ Allenby Focus: Earth Systems Management George E. L. Barbee Focus: Innovating with Customers Arthur P. Brief Focus: Demographically Diverse Work Environments Joel Brockner Focus: The Implications of Crisis Management for Corporate Innovation, Creativity, and Change Clair Brown Focus: Innovation Dynamics in the Electronics Sector John Seely Brown Focus: Learning in the Innovation Process Barie Carmichael Focus: Inherent Negatives as a Basis for Strategic Innovation Sayan Chatterjee Focus: Post-Merger Integration Cindy Eddins Collier Focus: Innovative Perspectives on the Health Care System Jim Collins Focus: Creating a Good to Great Experience Marcia Conner Focus: Creating a Learning Culture Robert L. Cross Focus: Social Network Analysis Vihang R. Errunza Focus: Managerial Ownership, Firm Value, and Growth Robert Friedel Focus: Creativity Through Collaborative Endeavors

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James H. Gilmore Focus: Creation, Customization, and Commercialization in the Experience Economy Malcolm Gladwell Focus: The Business Implications of Blink Tony Golsby-Smith Focus: Using Strategic Conversations to Generate Corporate Innovation Jerry Goodstein Focus: Values-Based Strategies for Building Stakeholder-Firm Commitment and Enhancing Organizational Performance Roger H. Gordon Focus: Corporate Taxation Donald C. Hambrick Focus: Strategy and Economic Rationality John D. Helferich Focus: Design Strategies for Retail Customization Lutz Hildebrandt Focus: Driving Innovation Through Marketing and R&D Synergies Rolf Huppi Focus: Capitalizing on Intangibles in Global Strategic Management Michael C. Jensen Focus: The Agency Costs of Overvalued Equity Stylianos ‘Stelios’ Kavadias Focus: Organization Structure, Incentives, and the Innovation Portfolio Ronald L. Kerber Focus: Corporate Product Creation

Michael Gelb Focus: Discover Your Genius

Mark P. Kritzman Focus: Required Returns on Equity Across Countries and Models

Gerd Gigerenzer Focus: Consumer Responses to Product Innovation

Ingmar Leliveld Focus: Customer Collaboration in Organic Growth Strategies

Chris Lotspeich Focus: Innovation, Systems Analysis and Environmental Issues in Business

Carl Schramm Focus: Technology Transfer and the Role of the Entrepreneur Reinhard Selten Focus: Consumer Responses to Product Innovation

.................................... Joel Makower Focus: The Business Case for Sustainability

David E. Martin Focus: The Accounting and Financial Effects of Intellectual Property John May Focus: Angel Investors Program

Pedro Medina Focus: The Economic and Social Impact of Entrepreneurship Education Michael Meyer Focus: Developing Insight and Inspiring Innovation Danny Miller Focus: Creativity Through Collaborative Endeavors Henry Mintzberg Focus: Designing Strategy, Designing Global Management Education Rafi Mohammed Focus: Integrating On-line Off-line Businesses Brian F. Nattrass Focus: Values-Driven Innovation and Sustainable Business Practices Mary Altomare Nattrass Focus: Values-Driven Innovation and Sustainable Business Practices William H. Newman Focus: New World Enterprise Miguel Palacios Focus: Human Capital Contracts

Walt Shill Focus: Testing Personal Managerial Principles Through Business Simulation Larry L. Smith Focus: Crisis Leadership

Howard H. Stevenson Focus: Insights on Global Entrepreneurship: Education, Policy and Practice Charles ‘Chic’ Thompson Focus: Creative Leadership P. Jeffrey Trimmer Focus: Management of the Extended Enterprise Scott Wallace Focus: Employer Initiatives in Redefining Health Care Veronica Warnock Focus: Markets in Human Hope Robert Wiltbank Focus: Leading Organic Growth Heather Wishik Focus: Exemplary Global Managers Paul Junger Witt Focus: Innovation and the Business of Film Sonia Wong Focus: The Development of China’s Stock Market Mitchell Zuckoff Focus: Idea Entrepreneurs, Business Fads, and Business Scandals

Taylor Randall Focus: Managing Product Variety, Supply Chain Management Mary Varney Rorty Focus: Strategic Change in Health Care Organizations Robert H. Rosen Focus: Leading Organic Growth Saras D. Sarasvathy Focus: What Makes Entrepreneurs Entrepreneurial? Michel Schlosser Focus: Sustainable and Responsible Global Leadership 19

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