LAST Insight
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Beware of Your Mental Traps 

Next time you're locked in a polarizing debate, consider the work of Kahneman and Tversky

Miller, Paddy

Whenever I present this riddle, it divides the class. At first, I thought this was because people were unwilling to change their stance once they had committed themselves to a position. But I've come to realize there's much more to it than that. This is where the work of the Nobel Prize winner Daniel Kahneman and the late Amos Tversky come in.

The Importance of Context 

Antoni Subirà took everything related to theory and found ways to put it into practice

Rosanas, Josep Maria; Andreu i Civit, Rafael

In early 2018, we were saddened by the loss of Antoni Subirà at the age of 77. Those of us who knew him and interacted with him feel his absence deeply, especially as a friend. His work and dedication in the area of industrial clusters is evident not only in the international recognition achieved for cluster policy, but also in the spirit of those who continue to work for cluster-based economic development today.

Challenge and Freedom 

It is vital to give employees challenges and enough freedom so they can find ways to grow

Ribera, Jaume

Imagine your boss comes up and hands you a stack of documents, asks you to tackle a complex problem, and then leaves you to get on with it -- but not without being convinced that you are capable of coming up with a solution. This encapsulates how the late IESE professor Josep Riverola envisaged that employees should be treated: as people, first and foremost, who must be given challenges and then sufficient freedom so they can work out for themselves how to overcome those challenges and grow.

Involving People in the Process 

Are we important to others because we matter as people or simply because they profit from us? This question matters

Sánchez-Runde, Carlos

Although Elton Mayo's academic credentials have been questioned, few can deny that his work lent a new perspective to the dominant views of the day and had a lasting impact on the field of HR. Much has changed since Mayo's time, but keeping up with the latest thinking is no reason to forget past truths.

A Law Against Multitasking 

In an age of multitasking, it's worth remembering Little's Law.

Ribera, Jaume

Little's Law, along with other useful "lean" operations methods and tools, is more applicable to our daily lives than we may think. And as with any law, it's important that we heed it.

The Toxic Side of Mutual Funds 

Did the Nobel Prize-winning work of Harry Markowitz unwittingly contribute to the rise of common ownership today?

Azar, José

In his classic 1952 paper, "Portfolio Selection," financial economist Harry Markowitz developed what is known as "modern portfolio theory." The success of Markowitz's ideas brings us to our current situation: mutual fund companies -- namely, BlackRock, Vanguard, State Street and Fidelity -- are now the world's largest asset managers; and hence a rise in common ownership issues.

Remaining a Competitive Force 

Why have the ideas of strategy expert Michael Porter stood the test of time?

Valentini, Giovanni

Twenty-five years ago, Harvard Business School professor Michael Porter first came to IESE to deliver a session on international competitiveness, a subject on which he is an authority. For more than three decades, Porter's books have shaped the way we think about business strategy. In a field prone to passing fads, his ideas have staying power.

In Search of Effective Business 

Antonio Valero's vision of business policy is as relevant today as when he published his book on the subject 25 years ago.

Calleja, Luis Manuel

As the world rethinks the role of management and the social responsibilities of business in the wake of the global financial crisis, a rediscovery of Antonio Valero's ideas might help light the way.

The Innovation Prophet 

Schumpeter had much more to say beyond the concept of "creative destruction" for which he is famous.

Pastor, Alfredo

Schumpeter deserves to be read again in light of contemporary debates on two topics: "Can socialism work?" and the effects of "the capitalist process" on middle-class families, a subject on which much ink continues to be spilt today.

Un-Artificial Intelligence 

If not for the contributions of Marvin Minsky, inventions like GPS and Siri might not exist today.

Valor Sabatier, Josep

Marvin Minsky -- considered the father of artificial intelligence, who died in January 2016 -- devoted much of his life to understanding how a machine could acquire the same everyday learning as a human.

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