Word: businessese
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Coordinating some 200 task forces and 600 project teams, Vasella set about knocking heads together. By the time he was done, 12,500 people had been laid off; an $80 million venture fund helped ex-employees with good ideas start businesses. He got the unions to accept performance-based compensation...
Novartis' sales in 1998 and 1999--slowed by a dearth of lucrative products--increased just 2% a year, while those of its main competitors were growing at about 10 times that rate. Looking for a unifying vision for his new company, Vasella championed "life sciences," the idea that biotechnology would...
Novartis has since fashioned itself as a health-care company, but its core business, which generated 63% of group sales last year, is branded pharmaceuticals, led by brands such as Diovan and Sandimmun. Vasella leaves the other units--including generic drugs, animal health, Gerber, the eye-care unit CIBA Vision...
Businesses like UBS have a duty to uphold certain ethical standards that do not waver no matter the profit on the line. These standards include avoiding business with companies that prop up dictatorial regimes and finance blatant human rights violations. When a business fails to uphold such standards, it falls...
Three of the Harvard alums that created the popular crib-summary site SparkNotes.com have their sights set on a new web venture: capturing the sparks of romance. Sam A. Yagan ’99, Christopher R. Coyne ’99, and Maxwell N. Krohn ’99 have...