14 Of The Most Essential Lessons You Learn In Business School

While startups might question the relevance of the MBA, it's hard to argue with the salary bump you get after graduating from a top school, or the fact that nearly 40% of Fortune 100 CEOs have the degree. Clearly, there's something that companies value about the degree.

One of the core teaching methods, pioneered by Harvard Business School, is the case method. Some of the most difficult situations in business history are laid out for students, and they're expected to come up with a rigorous and well reasoned solution all on their own. It's the tried and true way to train students expected to be the top executives of the future. 

We reached out to some of the country's top business professors and asked them to tell us which case studies they think are the most essential for future business leaders, and have broken out the key lessons here. 

Thanks to Professor Jennifer Chatman of UC Berkeley's Haas School Of Business, Professor Aaron Chatterji of Duke's Fuqua School of Business, Professor Timothy Vogus of Vanderbilt's Owen School of Management, Professor Gautam Ahuja of Michigan's Ross School of Business, and Professor Laurence Capron of INSEAD for their input. 

How Lululemon kept its cult

Case: Leadership, Culture, and Transition at lululemon

Key takeaway: Figure out how to bring the founders into a strategy rather than alienating them. 

What happened? In mid-2008 new CEO Christine Day took over from founder Dennis "Chip" Wilson. The decision came as the company wanted to expand and become more corporate. At the same time, Wilson was concerned about maintaining the culture and values of the company.

Day faced entrenched problems like outperforming stores, a poor real estate strategy, and barriers between various parts of the company. She used her experience from helping expand Starbucks worldwide to align the whole company with a strategic plan. She even convinced the founders to attend advanced management programs at Harvard and Stanford so they could better understand how the company must change. Worth around $350 million at the start of her tenure, Lululemon is now a $10.59 billion dollar company.

Thanks to Dr. Jennifer Chatman, the Paul J. Cortese Distinguished Professor of Management Chair at UC Berkeley's Haas Management of Organizations Group for her suggestion

How Ryanair beat two giants of the industry

Case: Dogfight Over Europe: Ryanair

Key takeaway: Lean organizations focused on a single business can lead on cost and challenge established competitors. 

What happened?: In 1986, the two Ryan brothers announced that their young airline will take on giants like British Airways and Aer Lingus for the first time on the route between Dublin and London. It significantly undercut those two airlines on price, bringing in people who had previously preferred rail or ferry tickets. 

How USA Today reinvented itself

Case: USA Today: Pursuing The Network Strategy

Key takeaway: Sometimes the old guard can't handle a new reality.

What happened? Facing falling circulation of the daily newspaper and the rise of digital news, USA Today CEO Tom Curley saw the need to better integrate his businesses, to leverage and share content across the company's internet, television and print platforms. His management team and staff were resistant, claiming insurmountable divides in culture and work style. Curley had to make the case that this was essential for the future of the business, and eventually replaced 5 of 7 senior managers as part of the change.    

Thanks to Dr. Jennifer Chatman, the Paul J. Cortese Distinguished Professor of Management Chair at UC Berkeley's Haas Management of Organizations Group for her suggestion