A study of the Pareto Principle and the Internet’s “Long Tail” phenomenon by MIT Sloan Professors Erik Brynjolfsson and Duncan Simester recently earned the duo a prestigious award—and reveal results that point to a shift in the distribution of product sales.
The big data experts won the 2013 Management Science Best Paper Award sponsored by the INFORMS (Institute for Operations Research and the Management Sciences) Information Systems Society. The award recognizes the best contribution to the theory and practice of information systems among papers published in Management Science in the previous three years. The winning paper, “Goodbye Pareto Principle, Hello Long Tail: The Effect of Search Costs on the Concentration of Product Sales,” is co-authored with Jeffrey Hu (a PhD graduate of Sloan’s IT group, now at Georgia Tech’s Scheller College of Business).
Younger than their tenured colleagues, only a few years older than their students, and still having to prove themselves both as professors and leaders in their field, young professors face added stress. However, a select few thrive in this pressure cooker, outperforming senior teaching staff, winning the admiration of their students, and producing standout scholarship.
Poets&Quants’ “Top 40 Under 40″ recognizes these rising stars—young professors who represent elite schools from around the world. These uncommon professors have excelled in research while overcoming the green-professor label in the classroom. MIT Sloan Executive Education is proud to announce that our own Catherine Tucker is among their list of the world’s best b-school professors under the age of 40. The 36-year old MIT Sloan Associate Professor of Marketing and Mark Hyman Jr. Career Development Professor is recognized for her ability to excel in research, win the admiration of her students, and produce outstanding scholarly work. Read her profile on Poets&Quants here.
This is the first in a series of three posts about Bob Pozen’s approach to personal productivity and high performance.
What stands between you and the more productive version of you—the person who meets his or her personal and professional goals on a daily, monthly, and yearly basis? Robert Pozen provides concrete answers to this question in his new course, Maximizing Your Personal Productivity, offered on March 20-21 by MIT Sloan Executive Education.
Pozen is one of the most productive professionals in America. He’s been a top executive at two mutual fund giants, Fidelity and MFS Investment Management. He’s also been a government official, a corporate director, a business school professor, and a prolific author—and has been several of those things at once. After publishing several times in the Harvard Business Review, its editors wondered how he was able to submit all his articles on time and within the word limit—while juggling two jobs. Its published interview with him on the secrets of his personal productivity went viral, as well as his subsequent You Tube video on the topic. These led naturally to his best selling book, Extreme Productivity: Boost Your Results, Reduce Your Hours and sold out speaking engagements around the country.
“It became clear that although I spent most of my adult life working in financial institutions, and had written text books on the financial industry, all of a sudden everyone was interested in personal productivity,” says Pozen. “People were stopping me on the street to ask for advice; calling me to say how my book had changed their entire approach to reading and writing.”
In late January 2014, the Boston Globe ran a feature in its business section on MIT’s role in local entrepreneurship. In “MIT Retools to Aid Students in Startups,” Boston Globe reporter Michael Farrell asks “Is it possible MIT is feeling inadequate—insecure, even?” He points out that MIT is “facing increasing competition from around the corner and across the country,” citing Harvard University and Stanford University. The article goes on to detail a campus-wide initiative, led by MIT President Rafael Reif, to “make the school the unquestioned leader of technological innovation and entrepreneurship in the 21st century.”
It’s important to first point out that MIT is world renowned for its legacy of entrepreneurship. According to a Kauffman Foundation report, more than 25,000 active companies founded by MIT alumni have generated about 3.3 million jobs and $2 trillion in annual revenues. If they formed a nation, these companies would constitute the world’s 11th largest economy. US News & World Report also recently ranked MIT #3 in its college rankings for entrepreneurship.
What makes regions more or less successful when it comes to entrepreneurship? What about Kendall Square has made the area such a powerful entrepreneurial hotspot? These questions and others like them are considered during the new MIT Regional Entrepreneurship Acceleration Program (REAP), currently offered as a joint program between MIT Sloan Executive Education and the Martin Trust Center for MIT Entrepreneurship.
Created in part to address the concerns of organizations that want to emulate the entrepreneurial spirit encompassed by MIT and the surrounding area, REAP is a multi-year program designed to help regions promote economic development and job creation by teaching participants how to implement a more robust, innovation-based entrepreneurial ecosystem. For example, during the REAP 2012–2013 pilot program, cross-functional teams from Hangzhou (China), Finland, New Zealand, Veracruz (Mexico), Scotland, Andalucia (Spain), and Turkey conducted an action project focused on assessing the current state of entrepreneurship in their regions.