Stories related to "Operations".


All in the Family

When a family business has multiple generations and hundreds of stakeholders, how does an individual stand out? Create meaningful change? Carry the business into the future? We talked with Booth alumni who lead or manage family-owned businesses, from a conglomerate in Thailand to a national baker of breads that got its start in a Chicago basement. They all sought a Booth education because of its reputation for intellectual rigor, lessons in analytic problem solving, and world-class faculty. The family members who run these businesses have more than one generation schooled in The Chicago Approach™. They reached a point in their professional lives—inside or outside the family firm—when they saw the need to boost quantitative skills. For some, that time came after a world event such as the 2008 crash, which upended commodity prices. For others, the education was a way to step up and assume new roles. Relying on data instead of emotion eases decision making, they say. This doesn’t mean they’re bloodless. Always they have in mind their founders, most of them immigrants, who created what they now run. They share holidays with generations of stakeholders: there’s no ducking a failed venture. <br/>


A Workday With David Lee, ’11

As the vice president of innovation and UPS ventures at Atlanta-based United Parcel Service, David Lee, ’11, helps one of the world’s largest logistics companies think like a startup. He doesn’t fear a robot-filled future. Robots can have the boring jobs, according to Lee. Humans have more important creative and problem-solving work to do. Lee believes anyone can bring forth game-changing products and technologies, no matter his or her job title. He even gave a TED Talk (which has 1.6 million views and counting) on the topic. Here’s how Lee inspires innovation at UPS throughout a typical workday.