Prof. Tavneet Suri has found that mobile money services helped lift almost 200,000 Kenyan households, many headed by women, out of poverty, reports Neda Wadekar for Reuters. Suri explains that when mobile payment systems “came to an area, women shifted their occupations and their savings went up."
In an article for the Financial Times, Jayesh Kannan, a graduate student in the Sloan School of Management, discusses how a “beer game” exercise during orientation provided valuable lessons on supply chains and management. The game exemplifies “MIT’s emphasis on education for practical application,” Kannan explains.
Prof. Thomas Kochan writes for The Huffington Post that a new social contract is needed in America to ensure that the economy works for everyone. Kochan writes that “America needs to build a new social contract based on mutual respect and attuned to the needs of today’s workforce and economy.”
Bryan Marquard writes for The Boston Globe about the legacy of Prof. Emeritus Jay Forrester, a computing pioneer who died at age 98. Marquard writes that Forrester was a “trailblazer in computers in the years after World War II,” then “pivoted from computers into another new field and founded the discipline of system dynamics modeling.”
Prof. Thomas Kochan speaks with Boston Globe reporter Hae Young Yoo about how businesses can engage and invest in their employees while still turning a profit. Kochan notes that “having some voice in how the workplace is shaped creates an environment that motivates and gives employees a real sense that they belong there.”
Prof. Emeritus Jay Forrester, whose research on computing and organizations led to the field of computer modeling, died at age 98, reports Katie Hafner for The New York Times. Prof. John Sterman explained that thanks to Forrester’s work, “simulations of dynamic systems are now indispensable throughout the physical and social sciences.”
Jayesh Kannan, a graduate student in the Sloan School of Management, writes for the Financial Times about how technology is changing the recruitment process for business school graduates. “Like pretty much everything in the 21st century, the recruiting process today is no less immune to ‘disruptive’ forces: evolving student interest, a changing landscape of recruiters and technology."
Writing for The Wall Street Journal, Senior Lecturer Robert Pozen argues that index stock options are the best way to ensure CEOs are paid based on their performance. “Indexed options are designed to reward managerial skill instead of fortuitous movements of the stock market,” he writes, citing Prof. Bengt Holmstrom’s Nobel-prize winning research on incentives.
A study by MIT researchers finds that people who sweat during a low-pressure tasks performed better in stressful conditions than those who didn’t sweat, writes Martha of Money. “Our hypothesis is that the people who were getting a little bit stressed in the calibration [initial] round were getting mentally prepared to do the task,” says Prof. Tauhid Zaman.
A new study co-authored by Prof. Evan Apfelbaum examines the best way to address racism in the workplace and beyond, reports Ellen McGirt for Forbes. The researchers found that “the more that leaders understand what people see as the root of the problem — malice or ignorance — the more likely they are to come up with effective solutions.”
Xconomy reporter Jeff Engel writes about The Engine, a new venture MIT launched to provide “resources to startups whose technologies typically take lots of time and capital to develop—think biotech, robotics, advanced manufacturing, medical devices, and energy.”
BostInno reporter Olivia Vanni writes that MIT is launching a new venture to support startups working on scientific and technological innovations that require time and patient capital. Vanni writes that tech industry leaders see the new effort “as a prime opportunity to retain our local tech talent."
CNN reporter Matt McFarland writes that MIT is launching a new entity aimed at providing space, funding and support for startups focused on tackling the world’s biggest challenges. "This is putting a piece in the puzzle that is missing," explains Executive Vice President and Treasurer Israel Ruiz. "There's a deficiency in the ecosystem to support these startups."
President L. Rafael Reif writes for The Boston Globe about The Engine, a new venture built by MIT to support startups tackling the world’s pressing challenges. Reif writes that The Engine will provide a model of support that nurtures “high-impact ideas and speeds them into the world while helping our regional innovation ecosystem flourish.”
MIT’s new enterprise, called The Engine, is aimed at supporting startups in research-heavy fields, writes Curt Woodward for The Boston Globe. “We see the opportunity for MIT to start this process and really make a huge difference in driving down the cost of innovation in hard technology and science,” notes Israel Ruiz, MIT’s executive vice president and treasurer.