Patrick Thomas

speaker

995 appearances 15 recordings 1 series first heard Jul 2018 last heard May 2024

Patrick Thomas’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Business Schools Include Pandemic Crisis Management in MBA Lessons · 7 Jan 2021 podcast

So they're going and they're kind of getting a new lesson this last fall.

We've seen that schools are starting to teach some of the management lessons we're seeing out of the pandemic.

So students can kind of learn the new reality they're stepping into, right?

If they're going into consulting, they're getting kind of a two-year education on what are some of the problems businesses are facing.

And it kind of gives them a good grasp so they can go into the new reality in two years after they leave their MBA and go into the business world, having studied some of the management decisions that, good and bad, that were made during the pandemic and gleaning what lessons can be taught given the benefit of hindsight.

Yeah, so some of them are really interesting.

For example, at Harvard Business School, which authors a ton of case studies that are used at MBA programs throughout the country, they're one of the main authors of case studies.

And one of them that was taught was about Merck, the big vaccine maker in the US.

And it was kind of a situation where they asked the class, should

a vaccine maker like Merck accept government money from Operation Warp Speed?

Would that be beneficial to your business, which cuts down the costs on manufacturing a vaccine and the cost of clinical trials and things like that?

Does it make sense for them to go with government funding?

Or if you were the CEO, would it make sense to do it your own way?

And that way you have more control over the pricing of your vaccine, those sorts of things.

There's no strings attached if you don't take the government money.

So that kind of situation, like the professor will ask the students, put yourself in the

in the office of the CEO.

And you're tasked with these decisions.

So that's one example.

Another one was at Columbia Business School about Smithfield Foods.

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