Business & Entrepreneurship

The right pricing strategy can keep the cash register full.Determining the right pricing strategy can make or break the overall profitability of a firm, especially during the all-important December holiday season. One such strategy, dynamic pricing, long practiced in the airline and hotel industries, is showing promise and profitability in the world of retail. When applied to products sold over a short sales season — new toys, skiwear, and the like — dynamic pricing can boost profits for a firm, say two professors of the Olin School of Business at Washington University in St. Louis.

The John M. Olin School of Business at Washington University in St. Louis on Dec. 2 awarded a total of $70,000 in seed investment capital to two startup businesses in its annual Olin Cup entrepreneurship competition. The Olin Cup, along with $50,000 in seed money, went to Luminomics, a biotechnology company that develops regenerative drug therapies for degenerative diseases. An award of $20,000 went to The Blessing Basket, a not-for-profit company that imports baskets made by weavers in undeveloped countries. Honorable mention was given to Core Devices, maker of a portable anesthesia machine.

James J. Beirne has joined the Olin School of Business as the associate dean and director of the Weston Career Resources Center effective Nov. 29.

The winners of the 2004 Olin Cup Entrepreneur Competition will be announced Dec. 2 from a pool of five finalists chosen Oct. 29. The finalists are competing in a yearlong competition for $70,000 in investment capital provided by Washington University’s Skandalaris Center for Entrepreneurial Studies.

“Bob and Julie Skandalarises’ generosity has transformed the study, teaching and practice of entrepreneurship at Washington University and this most recent gift will spread the entrepreneurial culture to virtually every venue at our University,” explained Stuart Greenbaum, dean of the Olin School of Business.

Legal scholars, planners and political scientists from the Midwest will come together at WUSTL School of Law Dec. 3-4 to discuss the opportunities for reform in planning and land use regulation. Rep. Marcy Kaptur and Paul Farmer, president of the American Planning Association, will service as conference keynote speakers. The conference features two days of panel discussions on political leadership in planning statute reform, contemporary planning efforts, sprawl and urban growth, housing and regulatory streamlining, and the impact of state and local planning programs.

Originating in Washington University research laboratories, St. Louis-based biotechnology company Apath has generated enough profit in just seven years to contribute $1 million in royalty payments back to the School of Medicine.

Surprisingly, officers leaving the military — even after service in Iraq — are finding that a bachelor’s degree and leadership experience are not enough to arm them for more than an entry-level job at a Fortune 500 company. So what they’re seeking — and what makes them particularly desirable to employers — is a master of business administration degree, says Stuart I. Greenbaum, Ph.D., dean of the Olin School of Business at Washington University in St. Louis.

David Kilper / WUSTL PhotoFailure at a university is a word with bad connotations, unless you are involved in building experimental satellites that the U.S. Air Force and NASA find interesting. An aerospace engineer at Washington University in St. Louis who works with students building experimental spacecraft says student-built spacecraft, which he calls “university-class,” have a strong advantage over aerospace industry-built spacecraft: the freedom to fail.

BundersonWhy do the challenges and tasks taken on by the teams on the popular reality shows “Survivor” and “The Apprentice” so often result in failure or disaster? Perhaps these short-term work groups are assigning responsibilities based on superficial assumptions of expertise. A recent study by J. Stuart Bunderson, Associate Professor of Organizational Behavior at the Olin School of Business at Washington University in St. Louis, shows that work groups perform better when they rely on valid cues, such as education and experience, rather than superficial characteristics such as race and gender.