As fall quarter approaches its end, Kellogg students are excited to take a few days off and jump into Thanksgiving break with family, friends, and of course, good food. In the spirit of giving thanks, we asked students to answer the following questions: What are you most thankful for this Thanksgiving season, and more specifically, what are you most thankful for in terms of your Kellogg experience?
Second-year student Rohan Rajiv is blogging once a week about important lessons he is learning at Kellogg. Read more of his posts here.
We recently looked at why Amazon’s first physical bookstore in Seattle made sense.
The central theme was that different products are suited to different kinds of retail channels. As you might imagine, shipping individual cartons of milk or toilet paper isn’t cost effective as the delivery costs likely outstrip the cost of the good.
Additionally, it is easy for stores to carry excess milk or toilet paper as these goods are cheap. However, when the good becomes niche and expensive (e.g. diamonds), delivery becomes cheaper, and it then makes a ton of sense to centralize warehouses as carrying inventory in store is a very expensive proposition.
So, as retailers get larger, it becomes essential to adopt a “hybrid” or “omni-channel” approach to supplying goods to customers. It is the only way to stay competitive.
When we then consider an emerging market like India, retailers like Amazon are faced with additional problems.
By Erica Conti
Last month, 11 Kellogg ladies and I had the opportunity to grab breakfast and chat with Lara Balazs ’00, Visa’s SVP, head of North America marketing. Prior to Visa, Balazs held a variety of marketing and strategy roles at Prophet, Gap and Nike. She was recently named as one of Brand Innovators’ 2015 Top 50 Women in Brand Marketing, alongside the Chief Management Officers of the NBA, Nestle USA and JPMorgan Chase.
Balazs has a great affinity for Kellogg, and similar to many of the Kellogg alumni that I’ve met over the years, her energy was contagious. Most of the ladies in the room, including myself, are interested in pursuing careers in marketing, and it was exciting to think that Balazs was in our shoes 15 years ago.
I was pleasantly surprised with how open she was and how interested she was in “paying forward” the professional lessons she learned throughout her career. After the event, I found myself reflecting on two particular pieces of advice she shared.
By Andrew Zaleski
In the mid-1980s, Robert Swan found himself surrounded by the white, icy nothingness of Antarctica, leading an expedition with two other men who, by that point, had grown to hate each other. His team, with no radio communications or back-up support, had trudged more than 400 miles already, and it was time to make a decision.
They could either turn back and retreat to base camp or continue on and haul their 360-pound sled an additional 500 miles toward the South Pole.
If he reached the pole, a feat that would take a total of 70 days in subzero temperatures, Swan and his team would complete the longest, unassisted march in history. But if he failed, they would die.
By Theo Anderson
Success in the emerging global economy requires the ability to adapt, and your power to do so depends on the vitality of your network, says Ellen Levy, managing director of Silicon Valley Connect.
“There’s a capability that very rarely gets mentioned or recognized, but is becoming more and more powerful, and more and more a strategic advantage for companies that leverage it in our technology-enabled world,” said Levy, who invests in and advises a portfolio of more than 50 startups. “And that’s the power of your network.”
Levy shared her insights on networking during the opening session of the inaugural Kellogg on Growth Forum, held Nov. 10 at the Kellogg School of Management.
By Rachel P. Farrell
Serving others has a business benefit: growth.
Just ask Joe DePinto ’99, who has spent the last 10 years practicing the principles of “servant leadership” while sitting at the helm of 7-Eleven. During DePinto’s tenure as president and CEO, the convenience-store chain has grown from 27,000 to 57,000 stores, with sales doubling to $8 billion worldwide.
Today, the company is expanding so quickly that it opens a new store every three hours.
By Glenn Jeffers
The Kellogg School of Management convened its inaugural Kellogg on Growth forum on Nov. 10, bringing together some of the world’s most influential thought leaders to discuss their approach to driving and studying growth at the enterprise, macroeconomic and personal level.
More than 1,400 attended the one-of-a-kind event, which featured nearly 60 speakers — including Kellogg faculty, alumni and prominent business leaders — delivering fresh ideas and new perspectives on taking organizations to the next level via growth and scaling, a fundamental challenge that most businesses face. PricewaterhouseCoopers was a presenting sponsor for the event.