Jesper B. Sørensen, Senior Associate Dean at Stanford Graduate School of Business, discusses the pivotal role of research in navigating complex business challenges. He explains how researchers balance abstract theories with real-world applications, emphasizing the difficulty in implementing fundamental insights. Sørensen also highlights the shift towards social responsibility in business education, the transformative impact of data in understanding immigration and innovation, and the often-overlooked power dynamics within organizations.
Research bridges the gap between theoretical insights and practical applications, aiding managers in overcoming real-world challenges.
The focus on societal impact in business education emphasizes the importance of addressing complex issues like income disparities and climate change.
Deep dives
The Importance of Research in Society
Research plays a crucial role in enhancing human understanding and societal progress. It involves systematic inquiry to answer questions and discover knowledge over time, contributing to the evolution of society. In a business school context, research not only aims to enhance theoretical insights but also focuses on applying these insights to real-world problems faced by managers and leaders. The interplay between theory and practice highlights the challenge and excitement of addressing genuine organizational issues while striving to change lives and improve organizations.
The Business, Government, and Society Initiative
The Business, Government, and Society initiative emphasizes the multifaceted role of business schools in making a positive impact on the world. Traditionally viewed as profit-maximizing entities, business schools are increasingly focusing on the broader implications of human behavior and societal interactions. This initiative aims to deepen the school's commitment to understanding how markets and institutions influence one another and to address complex issues like climate change. By fostering a more comprehensive perspective, the initiative encourages students to recognize their potential for societal change beyond mere profit-seeking motives.
Research, Policy Changes, and Market Fairness
The exploration of how economic theories intersect with societal issues is exemplified in the work of researchers advocating for market fairness. The discussion on modifying business models to address income disparities, like using variable pricing in services such as Uber, challenges conventional economic norms and opens up potential political debates. This willingness to confront established ideas illustrates the dynamic nature of academic research, which can provoke constructive discourse on social equity. Emphasizing the significance of questioning traditional approaches, the implications of such research underscore the role of scholarship in fostering societal improvements.
To wrap up the first season of If/Then: Business, Leadership, Society, we invited Senior Associate Dean Jesper B. Sørensen into the studio to talk about the importance of research at Stanford Graduate School of Business. He shares insights on what motivates faculty to study what they do and how it impacts practitioners across industries.
“One of the challenges of being a great researcher is that you need to move away again from this kind of day-to-day reality.… I think a gift that a lot of our faculty have is to be able to both live in that very abstract kind of world and then make it relatable to somebody who’s not living in that world,” Sørensen says.
“Sometimes putting fundamental insights into practice is really hard. One of the hallmarks of research is trying to isolate particular mechanisms through various kinds of control. Scientists live in the world where it’s a vacuum, and so we just watch the leaf fall and we can then time it and then tell you what the answer is,” Sørensen says. “And managers live in a world where the wind is blowing and there’s all these kinds of forces getting in the way.”
In his conversation with podcast host Kevin Cool, Sørensen also shares his thoughts on three episodes from If/Then’s first season.
If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society. Each episode features an interview with a Stanford GSB faculty member.