Wharton's Erika James on Managing Through Today's Crises, Preparing for Future Ones

The video discusses the importance of diverse teams in crisis preparedness, emphasizing the need for leaders to expand their information networks for creative solutions. It highlights the lessons business leaders should learn from the pandemic to better prepare for future crises. The role of business schools in adapting to economic challenges and the impact of geopolitics on student intakes are also explored.

Why is it beneficial to have diverse teams during a crisis?

• They ensure compliance with regulations.

• They increase the speed of decision-making.

• They provide a wider range of insights and solutions.

• They help in reducing costs.

What is a common reaction of business leaders after a crisis?

• They expand their workforce.

• They invest heavily in new technologies.

• They focus on returning to normal operations.

• They immediately start planning for the next crisis.

What is a key activity for leaders to prepare for future crises?

• Focusing solely on financial growth.

• Ignoring past experiences.

• Reflecting on past actions and outcomes.

• Delegating all responsibilities.

How do business schools like Wharton prepare for economic challenges?

• By reducing the number of courses offered.

• By investing in a diverse stakeholder portfolio.

• By focusing only on local students.

• By cutting down on faculty recruitment.

What geopolitical factor affects student intake in business schools?

• Local employment rates.

• Visa restrictions for international students.

• Fluctuations in currency exchange rates.

• Changes in local government policies.