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Peter Madsen takes the admonition to turn lemons into lemonade quite seriously. In grad school Madsen, now a Marriott School organizational leadership and strategy professor, became fascinated with how organizations learn from catastrophes. “Most of my research focuses on how they deal with and try to prevent rare, bad events,” says Madsen, who earned his PhD at the University of California, Berkeley. “Whether mistakes happen internally or externally, companies can glean information that allows them to reduce their chances of being involved in accidents.”
Class begins with everyone looking intently at the same spreadsheet on their laptops. Today’s task: learning how to calculate financial ratios like debt-to-equity, asset turnover, and net profit margin—with the click of a button.
Two weeks before Kristen DeTienne moved into her new home, she called the phone company to pre-install a new line. The company didn’t come through, and she went for weeks without a phone.
Standing in front of eight corporate leaders worth billions of dollars and presenting them with a new business venture is the epitome of applied classroom learning.