In business, simple loyalty programs can strongly increase customer retention, Washington University in St. Louis researchers have found. These Olin Business School scientists studied a loyalty program at a chain of men’s hair salons, collecting data on more than 5,500 customers. Under the program, for every $100 a customer spends, he gets a $5-off coupon.
As businesses around the country are closing their doors and transitioning to remote work, Andrew Knight, a professor of organizational behavior at Washington University’s Olin Business School, said they should expect a period of adjustment as people develop new routines, norms and shared understandings about how work will progress through a new medium.
The U.S. Senate, with significant prodding from the Trump administration, is working on a plan to directly provide cash assistance to millions of Americans amid the economic fallout from the COVID-19 pandemic. Experts in economics and finance from Washington University in St. Louis’ Olin Business School weigh in on how it could help housing and households and maybe pay some bills — but still not answer the problems at hand.
Olin Business School faculty at Washington University in St. Louis offer perspectives on the economic, financial and everyday business reactions to the novel coronavirus outbreak.
Dennis Zhang, assistant professor of operations and manufacturing management at Olin Business School at Washington University in St. Louis, has won the 2020 Olin Award for research that creates a human-focused algorithm to improve warehouse workers’ packing time while also reducing material costs.
Leadership, at its core, is about influence. In Olin Business School’s popular MBA elective “Power and Politics,” students learn how to navigate leadership positions, which necessitates building power and gaining influence in the workplace.
Panos Kouvelis, who teaches and helped to popularize the Waffle House Index regarding natural-disaster responses, says the outbreak’s impact on global supply chains promises to be two times worse than when the SARS virus emerged in 2002 in China.
A new fellowship for Washington University undergraduates further deepens the university’s commitment to educating and preparing the next generation of entrepreneurs. The program, offered by the Skandalaris Center for Interdisciplinary Innovation and Entrepreneurship, will directly connect students to, and immerse them in, the St. Louis startup scene.
A new study that included a pair of researchers from Washington University in St. Louis’ Olin Business School, Kurt Dirks and Andrew Knight, explored what underlies an accurate sense of trust in a business organization.
While closely held ownership isn’t necessarily bad, research co-authored by a faculty member at Washington University in St. Louis’ Olin Business School suggests some African firms may miss 21st century growth opportunities without the ability to raise capital through shared ownership.