Olin Business School’s Executive MBA cohort at Washington University in St. Louis recently traveled to Washington, D.C., for a four-day immersion program focused on policy entrepreneurship. The visit was hosted by Brookings Executive Education (BEE).
In addition to a visit with U.S. Rep. Lacy Clay (D-Mo.) and former U.S. Sen. Jim Talent (R-Mo.), the group attended various seminars, welcomed guest lecturers from a variety of government sectors, and visited the White House to meet with the President Barack Obama’s Council of Economic Advisors. The immersion program March 16-19 was designed to to give the cohort firsthand knowledge of how public policy is formulated, and the role it plays in business and enterprise.
“We view the D.C. residency as a unique resource that only the Olin EMBA can provide to students because of our special relationship with the Brookings Institution,” said Lamar Pierce, associate professor of organization and strategy, who accompanied the group on its visit to the nation’s capital.
“For most of our students, non-market forces such as government regulation and interest groups play crucial roles in the strategy and everyday function of their organizations,” Pierce said. “Brookings allows us access to vast expertise of the capital so that we can build better public-private partnerships.”
“In today’s environment, it is more important than ever for business executives to understand the implications policy decisions will have on their business and to know how to interact in the policy process,” said Ian Dubin, associate director of BEE.
The four-day immersion was divided into two parts: the first focusing on business and policy formation; the second on business and society, with an emphasis on sustainability and corporate social responsibility.
“We hope the cohort comes away with a better understanding and appreciation both how and why government and industry must work together,” Pierce said. “For managers, it’s crucial to understand why government plays such an important role in markets, and how firms can have a fair and productive voice in regulation and policy.”
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