Cover Story

  • A Golden Opportunity

    Even as the School celebrates a great decade on the West Coast, Wharton | San Francisco Vice Dean Doug Collom is looking to the future—and seeking ever more ways of building the School into a West Coast powerhouse.

Featured Stories

  • Ethics Beyond Borders

    Globalization, technology and the integration of markets have created a frightening new frontier in the realm of business ethics. So how can we build a new ethical code for a fast-changing world?

  • Thinking Big

    How does one compete in the cruise business? According to Royal Caribbean Chairman and CEO Richard D. Fain, WG’72, it takes the willingness to think big. Really, really big.

  • One School. Three Entrepreneurs. $700 Million

    How Wharton helped three bright young business minds build—and eventually sell (at enormous profit)—their unique Internet-based companies. By Kimberly Marselas Photos by Bill Wadman Just six short years ago, one-time investment banker Marc Lore, WG’07, created a corporation to house his burgeoning online business. He named the firm Quidsi—Latin for, “What if?” As in, what if he took a low-profit product like diapers and sold them with such reputable customer service and super-fast shipping that he could move a half billion diapers in a single year? What if that diaper business could grow into an all-things-baby sales empire with expected annual revenues topping $300 million? What if he could use his diaper delivery model to roll out vertical operations in the household cleaning and beauty markets? Lore and his partners got the answers to those questions this year, as their innovative techniques and market saturation attracted the attention of none other than online retailing giant Amazon.com, leading to a $545 million acquisition deal that closed in February. It was a huge deal. But at Wharton, at least, it was hardly unique. Because as it turns out, Quidsi was one of three businesses founded by former Wharton students bought by Internet behemoths in the past year. Combined, their deals reportedly totaled more than $700 million. In June, Google announced it was buying display ad company Invite Media, founded by Nathaniel Turner, W’08. And in December, eBay announced it had purchased Milo.com, a local comparison-shopping site founded by Turner’s classmate and friend, Jack Abraham, W’08. Both bona fide businessmen before they were teenagers, Abraham and Turner spent their undergraduate years taking entrepreneurship classes and participating in formal business-building programs as they began to envision the companies that would make them millionaires in their 20s. Lore, for his part, had already created and sold […]

Articles

  • The Inbox

    Sharing a Vision In his message in the Winter 2011 issue, Dean Thomas S. Robertson commented on the faculty’s approval of a new vision for MBA education. He noted that the new curriculum reflects the “evolving landscape requiring anticipation” and adaptation to change. Such vision of the interrelated global nature of changing economic and social systems is invaluable for academic institutions developing leaders and innovative thinkers, I believe. Wharton’s position in the world renders such vision of particular importance. William Boyd Katz, W’60 DePreist: ‘A Great Person’ It was great to read your article on James DePreist (Winter 2011). He would have made a great lawyer as well as a great maestro. I had the pleasure of teaming up with Jim on our thesis for the pre-law requirement at Wharton. A great person who never let his disability hold him back. Theodore Rich Jr., W’58 More on Deepwater I read the extended article, “The Lessons of Deepwater,” (Fall 2010) on the website. The comment about drilling on the Thames seems quite accurate. BP’s mess appears to be the consequence of a “success-oriented schedule.” I’ve encountered these types of schedules and they are usually driven in a top-down manner, with no real discussion about the realistic nature of the schedule, no consideration of setbacks and no contingency planning. The apparent breakdown in communications between the various players is usually a consequence of trying to do too much in too short a time frame. Often the environment for choosing which project to fund is hypercompetitive and unrealistic plans are made to get the resources to do the project with the assumption that, “We can work out all that once we get started.” By then, it’s frequently too late and the project team is committed to a set of unrealistic goals and problems […]

  • News Briefs

    $3 Billion Down. $500 Million to Go On February 18, Penn President Amy Gutmann announced a major milestone in the University’s historic Making History campaign. Speaking to the Board of Trustees, Gutmann revealed that the campaign had reached the $3 billion mark—an achievement that she called an “extraordinary” affirmation of “our bold vision for Penn.” “Together we are creating the most gifted and diverse student body in Penn’s history,” Gutmann said in a message to the Penn community. “We are generating new kinds of knowledge to tackle society’s most complex and urgent questions, and we are building a green urban campus unlike any other.” The campaign was launched in 2005 and is set to be completed in December of 2012. In all, it will raise $3.5 billion for Penn, including $550 million for Wharton. As of our press date, Wharton had raised $430 million toward its overall goal. For more information about The Campaign for Wharton—and to find out how your gift can help Wharton remain the world’s leading purveyor of business knowledge— visit www.thecampaignforwharton.com. $6.5 million Establishes Lipman Family Prize in Leadership and Innovation The University of Pennsylvania in late January announced a $6.5 million gift from Barry R. Lipman to establish the Lipman Family Prize, a new annual prize that will recognize and amplify the work of an organization devoted to positive social impact and the creation of sustainable solutions to significant social and economic challenges. Barry Lipman, W’70, is a co-founder of Goldfarb & Lipman (now Goldfarb Lipman, a leading California law firm). Emphasizing leadership, innovation, social impact and transferability, the Lipman Family Prize will be a major award with a global scope, propelling the winning organization’s achievements forward through a combination of financial rewards, media outreach and scholarly attention. Each year, the winning organization will receive […]

  • A Vision for Growth

    Jason Wingard, Wharton’s new Vice Dean for Executive Education, acknowledges the challenges of today’s tough business environment. But he also sees boundless opportunities for growth—in Philadelphia, in San Francisco and in all corners of the globe.

  • A Very Healthy Debate

    Thanks to the Leadership of William Lauder, W’83, the Learning Never Ends at the Estee Lauder Companies–Not Even for the Company’s Highest-Ranking Executives.

  • Making a Statement

    As one of the key project managers behind New Delhi’s massive new airport terminal, Kanika Dewan, W’98, helped send out a message to the world: India has arrived.

  • Final Exam

    Suppose you put the following ten letters—S, T, A, T, I, S, T, I, C and S—in a bag.

  • Revolution Abroad. Revolution at Home?

    The winter uprisings that rocked the Middle East hold valuable lessons – and warnings – for leaders in politics, business, and education.

  • The Year in Risk

    In their annual report to the global community, Wharton’s disaster-preparedness experts take a look at the biggest risks facing the world in 2011—and how those risks are interconnected.

  • Editor’s Letter

    By Tim Hyland I am a print guy. I buy books at the bookstore and magazines at the newsstand. I started my career in newspapers, I subscribe to the Philadelphia Inquirer, and I read the entire thing, every single day. I like the permanency of print. I like that it’s tangible. And I love the sense of excitement and accomplishment that comes along with the delivery of each and every issue of Wharton Magazine. In other words, yes, I really like print. But I also recognize its limitations. All of us here at Wharton Magazine do. That’s why, since my arrival as Editor two years ago, we’ve focused our energies on improving the print version of the magazine and on extending our offerings in the virtual world as well. We’ve redesigned our website to make it more attractive and interactive. We’ve launched the award-winning Wharton Blog Network to generate discussion about the biggest topics in business today. We’ve even made the leap into the world of Twitter (you can find us @WhartonMagazine). Most notable, however, might be our increased use of video to tell the remarkable stories of this remarkable school. Since we launched our video initiative in the spring of 2009, our film crew has interviewed leading executives, pioneering entrepreneurs and, of course, members of Wharton’s distinguished faculty. They’ve covered numerous conferences, sat down one-on-one with Dean Thomas S. Robertson and even trekked to Seoul and Madrid as part of the School’s Global Alumni Forums. They’ve been to Reunion Weekend, Commencement … and even MBA Pub. In the process, they’ve helped us assemble an impressive video library—a film archive that illustrates not only Wharton’s thought leadership and the striking accomplishments of our alumni, but also the energy and dynamism that can be felt almost every day here in University City. Through […]

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