Why Apple Could Price Its Next iPhone At $1,200
New from MIT Sloan School of Management
“Smartphones aren’t cheap. Most flagship models hover around the $600 range — or more.
“But, if the rumors are correct, the price tag of Apple’s upcoming iPhone 8 could make those $600 phones seem like a bargain. The most recent reports say it could be around $1,200. Granted, it is also rumored to have some nice new features, like facial recognition and wireless charging, but another smartphone — the Samsung Galaxy S8 — has both of those features, and it is half that price. The phone is expected to be announced in September.
“So what gives? Why might Apple be pricing its newest iPhone so much higher than is the industry standard?
“There are a couple reasons.”
Management Truths In An Age Of Fake News
News from IESE
“Today, more content than ever is being published, but fewer businesses are finding a way to do so profitably and sustainably. How to manage media businesses in a time of radical, disruptive change?
“A new book, based on IESE’s Advanced Management Program (AMP) in Media & Entertainment, combines contributions from leading professors and practitioners to establish a base upon which executives can start to build the managerial tools they need to manage fast-changing media and entertainment businesses.
“Managing Media Businesses: A Game Plan to Navigate Disruption and Uncertainty — published by Palgrave Macmillan and Springer — is a practical guide to every aspect of managing media businesses.”
Stanford, De Beers launch $3m African entrepreneurs initiative
News from Stanford Graduate School of Business
“The Stanford Graduate School of Business and De Beers Group have announced a three-year, US$3 million partnership aimed at empowering young entrepreneurs and owners of established businesses in Botswana, Namibia, and South Africa through two new educational programmes.
“Stanford will expand two of its programmes to Southern Africa in 2018: the Seed Transformation Program of the Stanford Institute for Innovation in Developing Economies, known as Stanford Seed, and the Stanford Go-to-Market programme for accelerating business ventures to market.”
What To Do When Your Boss Says ‘Be Creative’
News from the University of Michigan Ross School of Business
“There’s a misconception that our brains are like computer random access memory, able to pluck the best information on command or, in particular, when needed for generating new ideas.
“That isn’t how it works, and it’s why many individuals and teams struggle to innovate. They’re told to ‘be creative’ without being taught how exactly to accomplish that. Akin to being told, ‘be funny,’ or ‘be spontaneous,’ despite good intentions of the other, we find it hard to comply.
“Michigan Ross Professor Jeffrey Sanchez-Burks doesn’t think that’s the right way to lead a team or develop novel solutions. His research has shown you need a deliberate process to strategically tap the repository of knowledge, perspectives, and insights that reside your brain, and within a team’s collective brain.
“’When we’re trying to innovate and make use of the things we’ve already experienced and know, you can’t simply hope all the relevant memories will be right at the tip of your tongue,’ he says. ‘We need an intervention. We need a series of steps to bring to the forefront more of our diverse experiences, memories, and knowledge than would normally come to mind.’”
Are Sales Incentives Becoming Obsolete?
News from the Northwestern University Kellogg School of Management
“To motivate, manage, and reward B2B salespeople, many companies use sales incentive plans that link large commissions or bonuses to individual results metrics, such as territory quota achievement. As digital channels continue to reduce and redefine salespeople’s role in customer buying, these traditional sales incentive plans are becoming less effective at driving sales outcomes.
“The right sales incentive plan creates a double win. Salespeople win because they are rewarded for their hard work and good performance. The company wins through a better-motivated sales team that produces short-term results and is more likely to achieve company goals.”