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The prototype wasn’t pretty. Wrapped in tinfoil and dotted with hand-drawn circles, the cardboard cylinder could have easily passed for an elementary school project, but the student entrepreneurs didn’t mind.
It’s said in the academic world that professors live and die by their research. We’re pleased to report that many at the Marriott School are thriving. Regular publishing in some of the industry’s top journals has put them on the leading edge of business and made some stars in their fields.
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.”
The retirement question often surrounds how much money you’re making, saving, and spending. It’s all about the time when work ends and, presumably, fun begins. You’ve either been stashing cash away, buying stocks, or even building a family business with the possible goal of selling it and enjoying retirement. Yet once retiree life begins, the financial work doesn’t suddenly end. The question now becomes: How will you make your savings last so you don’t run out of money before you run out of life?