Naturally, the phenomenon has drawn much commentary about what this means for marketing, but I am more interested in what it teaches us about making money.
It’s not easy to make money in an ecosystem from unrelated parties. In spite of all the press purporting that Pokémon Go offers local businesses unique marketing opportunities, there are, in fact, many limitations. The claim is that small businesses can gain new customers from being a Pokémon “Gym” or “Pokéstop” — physical locations that players visit to collect rewards or battle virtual monsters.
Now that President Trump’s pick for Secretary of Labor, CKE Restaurants CEO Andy Puzder, has withdrawn his nomination for U.S. Secretary of Labor, America will avoid, at least for the moment, a highly divisive debate over the future of U.S. employment and labor policy. This gives President Trump an opportunity to reconsider the type of person he wants to carry out his agenda.
Will Trump choose someone who respects the mission of the Labor Department, which is: “To foster, promote, and develop the welfare of the wage earners, job seekers, and retirees of the United States; improve working conditions; advance opportunities for profitable employment; and assure work-related benefits and rights.”
Or, will he choose another candidate who will implement an agenda that weakens employment standards and enforcement; thwart efforts of women and men who are organizing to support low-wage workers, and deepen the divide between business and labor? If this is the direction of whoever gets confirmed Secretary of Labor, we will be revisiting last century’s labor battles and further divide the nation. Read More »
From hailing taxis that won’t stop for them to being forced to ride at the back of buses, African-Americans have long endured discrimination within the transportation industry.
Many have hoped the emergence of a technology-driven “new economy,” providing greater information and transparency and buoyed by an avowed idealism, would help us break from our history of systemic discrimination against minorities.
Unfortunately, our research shows that the new economy has brought along some old baggage, suggesting that it takes more than just new technologies to transform attitudes and behavior.
Our new paper, “Racial and Gender Discrimination in Transportation Network Companies,” found patterns of discrimination in how some drivers using ride-hailing platforms, such as Uber and Lyft, treat African-American passengers and women. Our results are based on extensive field studies in Seattle and Boston, both considered liberal-minded cities, and provide stark evidence of discrimination.
Certain companies continually deliver more value to the market. They do so with greater speed and ease than their rivals, even when they lack the classic elements of strategic advantage: locked-in customers, dependent suppliers and barriers that keep competitors at bay. Absent such structural advantages, you would expect parity. There are, however, still those companies that regularly outscore the competition. Toyota, Intel, and Apple are among them, as are many lesser known but no less disproportionally successful ventures.
The source of uneven outcomes on otherwise level playing fields? Learning, at which the very best organizations excel. They are far faster and better at discovering what to do and how to do it, as well as at refreshing the set of problems to be solved and solutions to be delivered faster than the ecosystem can render their relevance obsolete.
For sure, learning is not simply training. Training involves accepted skills with an accepted application, and then using an accepted approach to deliver those skills to the organization. Learning, on the other hand, involves converting ignorance and a lack of capacity into knowledge, new skills and understanding. It requires recognizing what you do not know and finding new approaches to solve new problems. This, in turn, requires critical thinking and a willingness to challenge accepted practices, even when those practices are perceived as successful.
Challenge—even respectful challenge—is not a natural act. When something has worked well, complacency and inertia accumulate and interests get vested in sustaining what is familiar, even if it is not optimal. Challenging historical approaches goes along with challenging the emotions, status and prestige associated with those approaches. That is not typically welcome.
President Donald Trump has demanded that pharmaceutical companies cut drug prices in return for fewer regulations. As a matter of economics, this plan makes no sense.
Politically, however, it might just work. But traditional critics of the industry should think long and hard about whether going along with the president out of fear of his wrath is a cause for celebration. Pharmaceutical firms should also consider the long-term dangers of aligning themselves too closely with the new president and his volatile brand of policy making.