Nature abhors a vacuum. Air invades emptiness. Water floods open space. What happens when a wall is breached and markets are allowed to enter countries where they’d previously been banned? In the 1990s, Rosemary Ripley participated in the infusion of private enterprise into former command economies.
Markets bend to forces on the immense scale of macroeconomics. But they’re also nudged, poked, and even redirected by the individuals who work in them. In a 20-plus-year career, Teresa Barger has hit nearly every financial sector and every continent.
A market is a place (virtual or tangible) where buyers and sellers meet. Markets exist everywhere people do. But each market has its particular customs, as simple as a handshake or as intricate as a 40-page contract.
Steve LaVoie founded Arrowstream to improve supply-chain management in the restaurant business. He discovered that the benefits of trust in markets have been overlooked, in part because of an overemphasis on individual actors as opposed to relationships. He also learned that building and maintaining trust is hard work.
According to John Rice and Fred Smagorinsky '87, management is competing with traditional professions like law and medicine for talented minority students—and losing. Rice and Smagorinsky are trying to change that.
How can managers integrate their values into business decisions? Trish Karter '82 talks about the decision to keep her company's headquarters in inner-city Boston, and how it grew from her sense of self.