Business & Entrepreneurship

Eliminating the need to ascertain eligibility.Years of double-digit increases in health care costs are devastating business, federal, state and family budgets. While the United States pays more per capita for health care than any other industrialized country, 44 million people lack assured care. “Most people overlook the most affordable way to achieve universal coverage – putting all of us under the Medicare umbrella,” says Merton C. Bernstein, a founding member of the National Academy of Social Insurance and the Coles Professor of Law Emeritus at Washington University in St. Louis. “That single-payer system would reduce non-benefit spending by doctors, hospitals, clinics, laboratories and health care insurers by about $300 billion a year, providing funds to insure everyone without additional outlays.”

It’s tax-time. For many people that means handing some hard-earned money over to Uncle Sam. But for others tax time is refund time. Theoretically, that refund is money you’ve earned as a part of your salary, and should be accounted for and spent like regular income. However, most people view it as “found money” and generally find a way to justify spending it on something they didn’t necessarily need. According to a professor of marketing at the Olin School of Business, people mentally credit their refunds to specific budgetary accounts to justify spending it on desirable luxuries. The result is people end up spending too much, making it harder to pay other, more essential accounts.

With the latest news that Hewlett Packard has dubbed Mark Hurd as its new CEO, I wanted to make you aware of the expertise Professor Todd Zenger, the Robert and Barbara Frick Professor of Business Strategy at Washington University in St. Louis, has on Hewlett Packard’s success and failures over the years. Zenger has had […]

There are times when bending over backwards to make customers happy won’t result in better profits; in fact, it could cause a drop in profits. Unprofitable customers show up in every industry, causing companies to reconsider the value of customer service and to even consider “firing” those customers that cause the most loss.

When a company decides to turn to a call center to handle its customer service, company heads assume that signing a contract is the best way to get the best service. Not necessarily, says Tava Olsen, associate professor of operations and manufacturing management in the Olin School of Business at Washington University in St. Louis. Olsen and a colleague at the University of Toronto, found that some contracts allow call centers to meet their obligations half-way, leaving their clients — and their client’s clients — on hold.

When both husband and wife hold college degrees, it is the husband’s degree — and the husband’s degree alone — that typically determines whether a “power couple” will move to another city for career purposes, suggests a new study by economists at Washington University in St. Louis. The study is bad news for young women seeking gender equity in salary and career opportunities.

Carl Schramm, President and CEO of the Kauffman Foundation, will deliver an address entitled: “Innovation: How it will impact the United States in a Global Economy” on Friday, Feb. 18, 2005.

Alumnus Robert Frick and his wife Barbara have established a professorship in the Olin School of Business. Todd Zenger, authority on business strategy and organizational design, will be formally installed as the first holder.

William PeckThe economic future of St. Louis as well as the nation hinges on successful innovation and entrepreneurship. That’s part of the message Dr. Bill Peck, former director of Washington University School of Medicine and new chair of Technology Gateway, a regional economic development organization, will deliver Thursday, February 10. In his talk Peck will explore our definition of “entrepreneur” and examine the importance of innovation and entrepreneurship to education, medical and social progress. Peck will also challenge economic development policies and the current focus on corporate America.

Philadelphia but up a good fight during Sunday’s Super Bowl, but in the end the New England Patriots and Diet Pepsi were the clear winners–that’s according to the votes cast by faculty and students from the Olin School of Business during the annual Super Ad Bowl event.