A
knowledge, but how we teach is changing. From market labs to Maker Labs to flipped
is learning new tricks.
accountancy classrooms where students watch video lectures outside class and do
homework problems in class with the professor, we’re responding to changes in business,
I’m flipping an Executive
changes in secondary education, and new ideas on how to address tomorrow’s issues. Even this old dog is learning new tricks. I’m flipping an Executive MBA course that I’ve
MBA course that I’ve taught for 20 years, and the College’s faculty is rapidly going
taught for 20 years, and the College’s faculty is rapidly going beyond even that. The pace of technology and new teaching method adoption is amazing to see. We’re offering our first course on Coursera, Madhu Viswanathan’s “Understanding Subsistence Marketplaces," and we’ve made it a strategic priority to take our online education to the next level. Much of this change is driven by today’s students. As digital natives, they are learners who are comfortable and proficient with technology. An environment with a strong digital component engages them, encourages their responses, and helps them process and absorb
beyond even that.”
information. The commitment of our faculty to provide such an environment through innovative, technology-enhanced teaching methods drives the adoption, and the success, of these endeavors. As the History Lesson on page 20 of this issue of Perspectives suggests, this commitment is methods, we realize new opportunities. And, even more importantly, we teach our students the value of doing the same. Sincerely,
Josef and Margot Lakonishok Endowed Dean
2
Meet Your Maker
6
Weathering the Storm
What does 3D printing mean for business?
Why is disaster aid so expensive and what can we do about it?
10
Turning Negatives to Positives Negative media coverage acts as a trigger for strategic change.
14
Spotting Trouble Earnings guidance is an early warning system for detecting when a stock may be in trouble.
16
God Save the Queen's Brand The British royal Family builds a brand and builds commerce, too.
22
How Fast is Too Fast? High-frequency trading changes the rules.
What Would You Do? What strategies are most effective for teaching ethics?
DEAN Larry DeBrock MANAGING EDITOr Tracy McCabe EDITOr Cathy Lockman
SHOrT TAkES
CONTrIBUTING WrITErS Tom Hanlon Cathy Lockman Doug McInnis
8
PHOTOGrAPHErS Tricia koning Thompson • McClellan Photography L. Brian Stauffer College of Business at the University of Illinois at Urbana-Champaign
Perspectives
DESIGNEr Pat Mayer
THE MAKER MOVEMENT
THE NEW INDUSTRIAL REVOLUTION
ON THE COVER The makers hold the future in their hands. The potential of 3D printing to initiate change for business is being called a "new industrial revolution." And the College of Business is part of it with the opening of its MakerLab. It's a place where students become makers, getting hands-on experience with the technology.
22
IN-DEPTH
28
Larry DeBrock
Spring 2013
[ MY ] PERSPECTIVE
nothing new to our faculty or our College. By embracing these changes and adopting new
[ CONTENTS ]
t ILLINOIS, what we teach remains strongly rooted in the fundamentals of business
SPRING 2013
“Even this old dog
60-Second Profile
12
Intersections
20
History Lesson
24
The Main Event
26
reality Check
30
100 Words or Less
32
The reason Why
34
Parting Shot
The University of Illinois at Urbana-Champaign is an equal opportunity, affirmative action institution. Printed on recycled paper with soybean ink.