Chicago Booth Review Podcast

John Paul Rollert, an adjunct associate professor at Chicago Booth and in-house ethicist, dives into the complexities of ethics on Wall Street, inspired by Michael Lewis's Liar's Poker. He discusses the ongoing struggle between personal integrity and profit, illustrating how a toxic work culture can corrupt even the best intentions. Rollert shares anecdotes about the aggressive tactics in bond sales and grapples with the moral dilemmas that arise in a competitive environment, highlighting the profound choices professionals make for their self-worth.

The COVID 19 pandemic caused perhaps the fastest ever shift in working patterns. One day, many of us were working in offices, the next we were working remotely – and would be for years. What effect did that have on our performance? We talk with Chicago Booth’s Mike Gibbs, an expert on quantitative research, about the consequences of remote work.

Jean-Pierre Dube, a data privacy expert from Chicago Booth, delves into the complexities of data privacy laws and their effects on low-income consumers and small businesses. He argues that while regulations like GDPR aim to protect, they can inadvertently exacerbate inequalities. The discussion highlights the 'privacy paradox,' where consumer desires clash with real behaviors, and how strict laws may stifle innovation. Dube also sheds light on the concept of 'data deserts,' emphasizing the disproportionate impact on marginalized communities lacking access to essential services.

Steve Kaplan, an expert on C-suite hiring and CEO performance, dives into the complexities of selecting the right CEOs. He reveals that successful CEO traits often differ from those of other executives, highlighting skills like decision-making, execution, and charisma. Kaplan warns against merely favoring likability over effectiveness in hiring practices. He explores how trends in CEO characteristics have evolved while certain core traits remain constant, using examples from iconic leaders to emphasize the crucial balance of execution skills and interpersonal abilities.

We tend to think of leaders in terms of personality types or set ways of behaving. But can you learn to be a better leader? And can you choose when to act like a leader? In this episode, we hear from Chicago Booth’s Linda Ginzel, who presents two ideas: first, that we can become better leaders by being diligent about how we learn from our experiences; and second, that we should think of leadership and management as verbs, rather than nouns.

In some countries, fines change according to income, but so far US cities have been reluctant to try it out. Chicago Booth’s Jean Pierre Dube thinks that’s a mistake. He says uniform fines are regressive, don’t act as a deterrent, and that personalized fines could bring in more revenue for cities. So why are US cities so reluctant to do it?

Private equity has a PR problem. If you heard that your company was being taken over by a private-equity firm, you might well start worrying that job cuts would be coming soon and the quality of work would be sacrificed in order to squeeze out more profit. But is that accurate? Chicago Booth’s Steve Kaplan, an expert on private equity, says that private-equity firms frequently invest and grow companies more effectively than other owners. But does that justify their big fees? And could companies take the same actions without being taken over by private equity?

Join John Paul Rollert from Chicago Booth as he explores the delicate dance of customer service. He discusses the real-world implications of the phrase 'the customer is always right,' highlighting the struggles retail workers face with unreasonable patrons. Rollert dives into the ethics of return policies, using LL Bean as a case study to illustrate the balance between satisfying customers and maintaining sustainable business practices. Prepare for a thought-provoking take on customer dynamics!

George Wu, an expert from Chicago Booth on workplace dynamics, delves into the intriguing dilemma of accepting promotions without a pay raise. He tackles the emotional impact and fairness issues surrounding career progression. The discussion sheds light on the unique challenges women face in salary negotiations. Wu also explores how professionals evaluate pay-free promotions, revealing why many choose acceptance over rejection. Insights into negotiation tactics and the importance of open communication regarding future compensation round out this engaging conversation.

Jean Pierre Dube, a specialist from Chicago Booth, delves into the world of hidden fees and their effects on consumer behavior. He discusses how these tactics manipulate pricing transparency and consumer trust, particularly in retail and ticket sales. The conversation highlights the psychological strategies companies use to conceal true costs until the last moment. Dube also addresses the ethical implications of such practices and explores potential solutions for improving transparency in pricing for consumers.