Executive Chairman of Estée Lauder Companies Teaches Sold-Out Class at Wharton with 73% Applicants Rejected

William P. Lauder, Executive Chairman, The Estée Lauder Companies Inc.

All schools have their star professors and star classes that students vie to get into. If Wharton has a Nicolaj Siggelkow, Harvard has a Michael Porter and Stern has a Damodaran. With students vying to get into the same classes, business schools have put in place bidding mechanisms to ensure marketplace economics, similar to real world.

Therefore, when Wharton started a class by William P. Lauder in Spring 2013, there were over 150 applicants vying for the same 40 spots. The seven-week class invited CEOs from global firms to share their experiences with students.

William Clay Ford Jr., Chairman, Ford Motor Co.

For example, William Clay Ford Jr., Executive Chairman, Ford Motor Co. spoke about a restructuring he initiated years before the 2007-08 crisis that caused GM and Chrysler to declare bankruptcy. Ford was well-positioned with huge lines of credit that helped it emerge strongly from the crisis.

Some other noteworthy takeaways included: Act Now, Stay Flexible, Work With The Culture, Appeal To People’s Humanity and Avoid Throwing Good Money After Bad Money.

To read about more such experiences shared by Arthur Sulzberger Jr., Chairman, The New York Times Co. and more such luminaries, read this article by Mike Useem, Professor of Management, Wharton School here.

As a result of the success of the class, Lauder plans to offer it again in 2014.