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The maverick is a mainstream success story

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Whether in popular media, business, or politics, the term conjures up the idea of a leader whose very success is in their fearless convictions and their readiness to go it alone – convention and…

Agility is (l)earned

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Joseph Schumpeter coined this catchphrase to characterize market-based economies more than 100 years ago, but the acceleration of today’s product cycles and social practices, in particular in the…

A study shows how to find new ideas inside and outside the company

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Companies know this. That’s why many seek to tap the potential of “open innovation” by encouraging their employees to scout for new ideas among external partners, such as universities, research…

The economic and the social: anatomy of a contract change in India

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In a variety of interactions, the economic and the social rub shoulders, often in uneasy co-existence. Think of blood donation, for example. People probably do it out of a genuine sense of social…

What is the future of free trade?

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The clear and unanimous commitment on the part of the last G20 summit in Hangzhou to create an open world economy — i.e., the rejection of protectionism and the promotion of trade and investment on a…

The economics of the money-back guarantee

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“Returning the product to Amazon ASAP!” complained one disgruntled Amazon customer as they gave a one-star review for a digital camera on the company’s site. This is despite the same product having…

The customer is not always king

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Service sector workers are often required to enforce certain rules. Researchers in the "International Journal of Research in Marketing" reported how this affects their relationship with customers…

When do customers get what they expect?

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The underlying rationale is intuitive: Because customers are more satisfied when their expectations are exceeded, lowering expectations may be a shortcut to improving customer satisfaction. However,…

Why some crowdsourcing efforts work and others don’t

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Efforts to leverage the knowledge of external contributors have been used for centuries. For instance, the British Parliament used crowdsourcing to find the solution to the longitude problem that was…

Pioneers on the energy frontier

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Blockchain is a distributed, digital transaction technology that allows for securely storing data and executing smart contracts in peer-to-peer networks (Swan, 2015, p. IX). This is potentially…