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Bridging the Science-Practice Gap in Business: Insights from Dr. Rich Cober

Dr. Rich Cober from Marriott discusses the crucial gap between industrial/organizational science and practical business applications. Emphasizing that while science provides a foundation, it often lacks actionable solutions, he highlights the importance of creativity, pattern recognition, and understanding finance in navigating business challenges. Key recommendations include taking finance classes to grasp compensation concepts, leveraging expert knowledge, and enhancing communication skills through storytelling and feedback. Transformative strategies for addressing real-world business issues are explored in detail.

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Bridging the Science-Practice Gap in Business: Insights from Dr. Rich Cober

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Presentation Transcript

  1. PTC talk 4/9/14 Given by Dr. Rich Cober of Marriott “Leaving an I/O Footprint on Business”

  2. I/O Science –Practice Gap • Science is a foundation; not a good source to solve issues • Practice is a creative solution • It has been 20 years since certain guidelines have been made for academia

  3. Practice-Business Gap • Business has the following: • Relevant solutions • Connections and creative strategy • Ability to navigate change

  4. What works in the Business Environment • Ask the right questions • Pattern recognition (data) • Imagination and creativity(unlock innovation) • Understanding Compensation/Finance • Be an open, rapid learner; build breadth • Leverage the experts, enlist assistance • Systems thinking

  5. Continued • Telling stories: communicate • With data, using strategies • Have impact-make your point • Be a translator • Get AND give feedback!

  6. Recommendations • Take a Finance class in grad school to understand compensation (how people are paid) • Certifications available: • SPHR • Global HR

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