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Goizueta Effect

By: Emory University's Goizueta Business School
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  • Summary

  • When you change your perspective you can change business for the better. Join us on Goizueta Effect to hear from leading faculty at the Goizueta Business School on the latest trends, research, and innovations in business, and find out how you can achieve more, do more, and create more in today’s ever-changing marketplace.
    © 2020-2023 Emory University Goizueta Business School
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Episodes
  • The Power of Inclusive Brands

    The Power of Inclusive Brands
    Jul 10 2024
    From Barbie to Dove and Dasani to Sephora, brands are constantly shifting to reflect their markets and make their customers feel seen. Emory University's Goizueta Business School Professor Omar Rodríguez-Vilá joins to discuss the power of brand inclusivity, how to serve the needs of historically underrecognized communities, and what sets inclusive brands apart. We'll also talk about integrating diversity and inclusion into marketing strategies, ensuring these efforts foster long-lasting connections rather than fleeting trends. Omar serves as a professor in the practice of marketing at Goizueta. He has 13 awards for teaching excellence, including six as Core Professor of the Year, and most recently, the Provost Excellence in Teaching Award. He has also shared his wealth of experience and expertise in leading media outlets, including the Harvard Business Review, Forbes, and Ad Age. The Basics: What Defines an Inclusive Brand? Omar begins by defining inclusive brands as those intentionally attuned to the needs of historically underrecognized communities. He explains how companies should first determine the role of inclusion by assessing the diversity of their customer base and identifying any whom they are not serving well. He uses the story of Gillette vs. Bevel in the razor industry as a way to highlight how a singular focus on innovation—specifically, increasing the number of razor blades - led to suboptimal outcomes and the underserving of Gillette’s consumers with wavy hair. He also highlights best practices in building inclusive brands, using Dove and Barbie as leading examples. The Beauty of Inclusivity Practices Omar encourages companies and managers to conduct an assessment to calculate their "inclusion maturity score" and discuss what changes are needed to be more inclusive in serving diverse customer segments. He discusses BRIDGE IMAX, the industry-first framework for operationalizing inclusion and driving growth. He explains how Sephora, whose score was “off the charts”, reflects their inclusive practices across stores, products, culture, and community engagement. His findings suggest that both diversity and inclusion increase engagement, with inclusion having a significantly stronger effect. Understanding the Inclusion Opportunity Omar focuses on the importance of understanding the size of the "inclusion market" - the opportunity to serve diverse customer segments that may be underrepresented in a company's current customer base. Datasets are a critical piece of the puzzle in order to make a stronger business case for investing in inclusive practices. Approaching Inclusion Effectively The framework for success in inclusivity is seen through understanding the market. Omar suggests understanding the composition of your customer base and identifying underserved groups. This will allow the brand to serve the market by creating innovative products and services to meet these needs. Lastly, Omar encourages listeners to show up authentically in the market. Transformational Potential While embracing diversity and inclusion requires effort, the potential benefits are vast and impactful. Omar encourages brands to explore how these principles can reshape their market approach, potentially redefining their competitive position in the market. Omar emphasizes that embedding diversity and inclusion into your market strategy isn't just a trend—it's a transformative effort akin to adopting new technologies. Companies that integrate these principles effectively are poised to gain a competitive edge by better resonating with and serving diverse markets. Diversity and inclusion are not just moral imperatives but also clear business advantages. Customers view diversity as fundamental, influencing brand loyalty and differentiation in profound ways. For those inspired to learn more, visit Goizueta’s Business & Society Institute for additional resources and information on the intersection of business with inclusive economies, racial justice and climate. For more insights to equip you with the tools and perspectives to excel in your career, subscribe to the Goizueta Effect podcast. You can also read more about Omar Rodríguez-Vilá’s work at Serving Markets: Inclusive Brands Stand to Benefit - EmoryBusiness.com How Inclusive Brands Fuel Growth (hbr.org)
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    46 mins
  • Uncovering the Hidden Fallacies of US Healthcare: Making the System Work for You

    Uncovering the Hidden Fallacies of US Healthcare: Making the System Work for You
    Jun 6 2024

    In this episode, we are joined by Steven Culler to dive into the intricate landscape of healthcare in the United States where business, policy, and patient outcomes intersect. Join us as we demystify healthcare financing models and uncover the hidden fallacies within U.S. healthcare.

    Understanding US Healthcare and Common Misconceptions

    Unlike Canada and European countries, the United States has a unique multi-payer system where coverage varies based on factors such as age and employment status. Steven Culler shares personal anecdotes, illustrating the challenges of navigating network care, and the significant financial implications of medical emergencies. The conversation explores the misconceptions people have about their insurance coverage, especially the belief that employer-provided insurance is always reliable.


    Navigating Healthcare Using Data to Make Informed Decisions

    Monique and Steven discuss the critical role of measuring healthcare outcomes to enhance patient care. Steven highlights disparities in healthcare quality across hospitals and stresses the need for patients to access accurate information when making healthcare decisions.

    The conversation advises listeners to educate themselves on their health insurance policies before needing them. Steven introduces resources like hospital comparison tools to help patients make informed choices about where to seek care, emphasizing the importance of understanding potential financial risks. He also shares strategies for preparing for healthcare emergencies, including knowing family health history and local hospital ratings.

    Looking Ahead

    Steven envisions a future where better data collection and transparency in healthcare outcomes can lead to more informed decisions by patients and improvements in overall healthcare quality. He discusses potential policy changes and the role of third-party payers in guiding patients to better care.

    Join us for an insightful conversation that unravels the complexities of the U.S. healthcare system, offering valuable advice for navigating your health insurance and making informed healthcare choices.
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    25 mins
  • Climate Crossroads: Business, Innovation, and the Path to Net Zero

    Climate Crossroads: Business, Innovation, and the Path to Net Zero
    Apr 16 2024
    Climate change is real and it’s worsening. Goizueta Business School’s Wes Longhofer and Cameron Bard join to discuss the business imperative for carbon neutrality – and how human creativity, technological progress, and a strong commitment to a sustainable future can drive us toward net zero. There’s no escaping it – climate change is real and it’s worsening. 2023 was by far the warmest year on record, and 2024 is predicted to be even hotter, marking 10 years of consecutive increases. Last year, ocean warming broke records, Arctic sea ice dropped to a record low, and climate-related disasters caused damages exceeding $92 billion dollars. Wes Longhofer and Cameron Bard of Emory University’s Goizueta Business School join to discuss the role that business can and should play in helping our society transition to carbon-free sources of energy. We unpack the need for truly innovative large-scale ideas and investments, opportunities within developed and developing countries, global threats, and the challenge of pursuing clean energy initiatives while also respecting other environmental and social justice concerns. Wes Longhofer is an associate professor of organization and management and the executive academic director of the Business & Society Institute at Goizueta. His research on climate change and energy systems has been featured in the Washington Post and Nature. He also serves on Emory's Climate Research Initiative Task Force, as well as Emory's Sustainability Visioning Committee. Cameron Bard is a student in Goizueta’s Full-time MBA program. He serves as the President of the Goizueta Energy and CleanTech Association and is a Social Enterprise Fellow focusing on climate and sustainability. Post-graduation, he will work for Boston Consulting Group. Outside of class, he volunteers for the Georgia CleanTech Innovation Hub. Understanding Climate Change Climate change is defined as the long-term alteration of temperature and weather patterns on Earth. Highlighting the pivotal role of human activities, such as the burning of fossil fuels, in these environmental shifts, the conversation points to the direct consequences we're facing: increasingly frequent and severe climate shocks that disrupt the natural balance of our planet. The Energy Trilemma This trilemma refers to the complex challenge of balancing three critical aspects of energy policy: environmental sustainability, energy equity (affordability), and energy security. It underscores the difficulty of ensuring that future energy sources are not only carbon-free and sustainable to combat climate change but also affordable for communities worldwide and secure from the threats posed by geopolitical tensions and bad actors. In addition, it highlights the interplay between these dimensions in transitioning to a sustainable energy future, emphasizing the need for innovative solutions that address all three aspects simultaneously. Historical Context and Infrastructure Let’s look back at monumental projects like the massive hydroelectric dams constructed during the New Deal era, the creation of the interstate highway system in the 1950s, and the achievement of putting a man on the moon. These examples serve to illustrate the ambition and scale of past infrastructural endeavors, providing a benchmark for current efforts to transition to clean energy. However, there were several challenges these projects faced, such as the protests against the interstate highway system due to its impact on neighborhoods and local ecosystems, and the failure of certain dams and nuclear plants because of resistance from affected communities. The discussion suggests a path forward that respects local interests, protects the environment, and shares benefits equitably, aiming for a more thoughtful and comprehensive approach to developing modern sustainable infrastructure. Innovation and FOAK Projects The focus shifts to the importance of innovative ideas and first-of-a-kind (FOAK) projects in spearheading the energy transition. The deployment of advanced nuclear reactors and large-scale battery storage systems showcase how these FOAK projects are pivotal in overcoming the inherent challenges of reliability and storage faced by renewable energy sources, thereby accelerating the path towards a sustainable energy landscape. The Pursuit of Clean Energy, While Respecting Other Environmental and Social Justice Concerns Specific instances, such as the opposition to the Lithium Americas mine at Thacker Pass in Nevada, illustrate how NIMBYism ("Not In My Backyard") and BANANA ("Build Absolutely Nothing Anywhere Near Anything") mentalities create significant roadblocks to essential renewable energy projects. Additional protests against the construction of wind farms and solar panels are discussed, where local communities' concerns over environmental and aesthetic impacts lead to delays or cancellations. These examples underscore the complex task of ...
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    39 mins
Economics
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