Thank you so much for this valuable breakdown of interventions, Karthik.
I am an absolute layman but in an effort to respond to your call from an entrepreneurial eye, I tried to dig further into the management training intervention mentioned in the Bloom (2013) paper. While the impact of this intervention is meaningful if not impressive, as you have noted, it is unclear how to operationalize this at scale.
However, something I found interesting was that one of the main barriers for firms not already investing in these practices is informational. Specifically, their owners didn’t know their relative quality compared to their peers. Given this, I was wondering if it might be possible to have a OPower-like intervention which could provide information about their relative performance to their peer firms to motivate them to perform better. This seems especially plausible since the authors mentioned that the ROI of the training was about 130% in the first year and at least these large firms in the study didn’t have financial barriers.
However, it is not clear to me what incentives the firms might have to share their quality information or if there are external sources for us to gather this information.
Thank you so much for this valuable breakdown of interventions, Karthik.
I am an absolute layman but in an effort to respond to your call from an entrepreneurial eye, I tried to dig further into the management training intervention mentioned in the Bloom (2013) paper. While the impact of this intervention is meaningful if not impressive, as you have noted, it is unclear how to operationalize this at scale.
However, something I found interesting was that one of the main barriers for firms not already investing in these practices is informational. Specifically, their owners didn’t know their relative quality compared to their peers. Given this, I was wondering if it might be possible to have a OPower-like intervention which could provide information about their relative performance to their peer firms to motivate them to perform better. This seems especially plausible since the authors mentioned that the ROI of the training was about 130% in the first year and at least these large firms in the study didn’t have financial barriers.
However, it is not clear to me what incentives the firms might have to share their quality information or if there are external sources for us to gather this information.