Obama: a case study in change

The search for a solution is proceeding apace. At Northeastern College of Business in Boston, one student proposed a plan to have the government provide mortgage assistance to individuals for a period of two years, arguing that it would cost less than bailing out the banks while giving the markets time to recuperate. And at the University of Pennsylvania's Wharton School, research on the most effective way to stimulate the economy is finding that stimulus checks are less than ideal because families typically use the cash to pay off debt rather than make new purchases. Reducing payroll taxes paid by employers might better stimulate the economy by trimming payroll costs and making it easier for employers to create jobs, says Mauro Guillen, director of the Lauder Institute at Wharton.
As they struggle to make sense of the crisis, some professors are taking advantage of a teachable moment by using it to hammer home important management lessons. David Bowen, a professor of management at Thunderbird School of Global Management, is offering a course with Professor Caren Siehl on how to lead change, using President Barack Obama as a live case study. In the class, students learn an eight-step model of change by watching Obama—whose inauguration coincided with the semester's start—handle the economic crisis, from creating a shared sense of urgency to getting his stimulus package passed.
For business school students, the crisis exists in both the life of the mind and in real life. Many have been touched personally by the downturn, whether it's a stalled job search or troubles in the housing market. To calm their jittery nerves, business schools are pulling out all the stops.