Institute for Business in the Global Context

Where the World of Business Meets the World

Month: September 2015

“Market upheaval forcing many sovereign-wealth funds to adapt”
by Sue Chang

“For funds that are resource-based—particularly oil—dramatic drops in price will affect the rate and scale of their future accumulation of new assets, while potentially requiring assets sales or outflows to fund possible fiscal deficits,” said Patrick Schena, co-head of SovereigNET at the Fletcher School at Tufts University.

Read the full article, featuring quotes and insight from Prof. Schena, in MarketWatch

What Is Entrepreneurship? Fletcher Entrepreneur in Residence, Rockford Weitz, Has the Answer

With the 3rd Annual Fletcher D-Prize Poverty Solutions Venture Competition launching on September 28th, the entrepreneurial ecosystem at Fletcher is on full display. With so many great opportunities available, we first have to answer one question: What exactly do we mean when we say entrepreneurship?

Luckily, The Fletcher School’s Entrepreneurship Coach (and Entrepreneur in Residence), Rockford Weitz, has the answer.

What is Entrepreneurship?

Good question.  Entrepreneurship means different things to different people.  I define entrepreneurship as “problem solving with limited resources and an unclear path forward.”  By my definition, most of you will likely be entrepreneurs at some point during your career.

The entrepreneurial approach works well in many Fletcher career trajectories, including social entrepreneurship, tech-driven entrepreneurship and intrapreneurship (using entrepreneurship techniques to succeed as a change agent in large organizations in the private, public, non-profit, intergovernmental and academic sectors).

Fletcher students and alumni have launched and scaled numerous enterprises, including non-profits, technology startups and new offices within larger organizations, such as the United Nations or the U.S. State Department.

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“The UN’s new goals could trigger a burst of innovation in sustainable development” by Bhaskar Chakravorti

Why, you might ask, should the private sector — with shareholder returns to worry about — get involved in lofty U.N. initiatives? First, the private sector contributes 60 percent of global GDP and 90 percent of the jobs, and may be better positioned to accomplish many of the goals because of better reach and resources. Second, if achieving some of the goals also helps achieve shareholder interests, the U.N. summit could result in a fresh burst of innovation and creative finance.

Read the full op-ed from Dean Chakravorti in The Washington Post

SponsorHer!: Improving Access to Education for Teenage Girls in Ethiopia

What’s it like to launch a social venture in a low-income country and have real world impact?

Fourteen-year-old Senait lives in a one-room house in Gondar with her mother, father and seven siblings. Currently in the eighth grade, she dreams of one day becoming a doctor to help others throughout Ethiopia, and is ready to accept and challenge any difficulties that stand in her way.


Throughout Ethiopia, young girls like Senait struggle in a system where failure far outpaces success. Poverty rates are sky high, while access to education is among the worst in the world. Just 18 percent of women over 15 are literate and less than five percent graduate secondary school. Out of 127 countries in UNESCO’s “Education for All” Index, Ethiopia ranks 126th.

As stark a picture as the numbers paint, solutions to pull girls out of poverty do exist; the problem is finding a way to bring them to those who need it most. Fletcher alumna Viola Csordas (F09) saw the problems and the solutions, but needed a push to help bring them together.

That’s where the Fletcher D-Prize came in.

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“Fed and the unknowns” by Bhaskar Chakravorti

To be clear, interest rate increases by the Fed profoundly affect the emerging markets (EMs) in particular. A rate hike would likely lead to a stronger dollar, causing global investors to park more of their money in the US, instead of in EMs. This, in turn, could affect their currencies, exports and even employment levels.

Read the full op-ed from Dean Chakravorti in The Indian Express

“The Triple Threat Facing Sovereign Wealth Funds”
by Richard Teitelbaum

“There are some funds that have taken it on the chin on the governance front,” says Patrick Schena, co-head of the Fletcher Network for Sovereign Wealth and Global Capital, at the Fletcher School of Tufts University, outside Boston. “They are feeling pressure. The media scrutiny is certainly there — international media, but also local. There’s also interest from the opposition politically.”

Read the full article featuring quotes from Prof. Schena in Institutional Investor

Over half of the world’s population lives in cities. Making cities work is one of the great imperatives of our time. At Fletcher’s Institute for Business in the Global Context we aim to provide a platform to help bring urban innovators and entrepreneurs to the forefront of the conversation through research and conferences, such as our Inclusive City Forum and Inclusion, Inc. Forum.

Kingsley Moghalu Joins Fletcher School Faculty

Kingsley Moghalu

Kingsley Moghalu

A number of impressive and talented individuals join The Fletcher School faculty for the 2015 – 2016 academic year, bringing impressive breadth and depth of expertise across disciplines in fulfillment of the school’s multidisciplinary approach to graduate education in international affairs. The IBGC is particularly excited to welcome Kingsley Moghalu, a Fletcher alumnus and the former Deputy Governor of the Central Bank of Nigeria, who previously joined us for our IBGC Speaker Series and as a speaker at our 2012 “Turn” Series conference, “Africa’s Turn? The Promist and Reality of the Global Economy’s ‘Final Frontier,'” and will now be a Professor of Practice in International Business and Public Policy.

Welcome (back) to Fletcher, Kingsley!

Learn more about Kingsley and the rest of the new Fletcher faculty

“What the CEO of the ‘New’ Google Needs to Do Next” by Bhaskar Chakravorti

The old Google had always been a tricky leadership challenge. Industry veteran Eric Schmidt has been the face of the company in the past, while founders Larry Page and Sergey Brin were focused on growing the company. More recently, Page and Brin’s interests shifted to the pursuit of a disparate array of moonshots — and a subsequent list of failed attempts — bankrolled by a single core business. But as the scope of the founders’ experiments expanded, the vision of that core business became harder to articulate. And from a revenue perspective, it was being taxed for the benefit of those unrelated ventures.

Read the full op-ed from Dean Chakravorti in Harvard Business Review