MIT Sloan School of Management

The MIT Sloan School of Management (also known as MIT Sloan or Sloan) is the business school of the Massachusetts Institute of Technology, in Cambridge, Massachusetts, United States.[2] MIT Sloan offers bachelor's, master's, and doctoral degree programs, as well as executive education.[2] Its degree programs are among the most selective in the world.[3] MIT Sloan emphasizes innovation in practice and research.[2] Many influential ideas in management and finance originated at the school, including the Black–Scholes model, the Solow–Swan model, the random walk hypothesis, the binomial options pricing model, and the field of system dynamics. The faculty has included numerous Nobel laureates in economics and John Bates Clark Medal winners.

MIT Sloan School of Management
MIT School of Management
TypePrivate business school
Established1914
Parent institution
Massachusetts Institute of Technology
EndowmentUS$ 812 million[1]
DeanDavid Schmittlein
Academic staff
200
Students1300[2]
Location, ,
U.S.

Coordinates: 42°21′39″N 71°05′02″W / 42.360732°N 71.083774°W
Websitemitsloan.mit.edu

History

MITSloanE62
MIT Sloan completed its new central building, known as E62, in 2010

The MIT Sloan School of Management began in 1914, as the engineering administration curriculum ("Course 15") in the MIT Department of Economics and Statistics. The scope and depth of this educational focus grew steadily in response to advances in the theory and practice of management.[4]

A program offering a master's degree in management was established in 1925. The world's first university-based mid-career education program—the Sloan Fellows program—was created in 1931 under the sponsorship of Alfred P. Sloan, himself an 1895 MIT graduate, who was the chief executive officer of General Motors and has since been credited with creating the modern corporation.[5] An Alfred P. Sloan Foundation grant established the MIT School of Industrial Management in 1952 with the charge of educating the "ideal manager". In 1964, the school was renamed in Sloan's honor as the Alfred P. Sloan School of Management. In the following decades, the school grew to the point that in 2000, management became the second-largest undergraduate major at MIT. In 2005, an undergraduate minor in management was opened to 100 students each year. In 2014, the school celebrated 100 years of management education at MIT.

Since its founding, the school has initiated many international efforts to improve regional economies and positively shape the future of global business. In the 1960s, the school played a leading role in founding the first Indian Institute of Management. Other initiatives include the MIT-China Management Education Project, the International Faculty Fellows Program, and partnerships with IESE Business School in Spain, Sungkyunkwan University in South Korea, Universidade Nova de Lisboa in Portugal, the Skolkovo Moscow School of Management in Russia, and Tsinghua University in China. In 2014, the school launched the MIT Regional Entrepreneurship Acceleration Program (REAP), which brings leaders from developing regions to MIT for two years to improve their economies.[6]

Academics

Endicott House, Dedham MA
Endicott House, longtime site of MIT Sloan executive education programs
Business school rankings
Worldwide overall
QS[7]4
Times Higher Education[8]1
U.S. News & World Report[9]2
Worldwide MBA
Business Insider[10]5
Financial Times[11]9
U.S. MBA
Bloomberg Businessweek[12]3
Forbes[13]9
U.S. News & World Report[14]3
Vault[15]3
U.S. undergraduate
U.S. News & World Report[16]2

The curriculum is focused on action learning, which requires that students apply concepts learned in the classroom to real-world business settings. Courses are taught using the case method, lectures, team projects, and hands-on Action Learning Labs. The academic level of coursework is considered extremely demanding by business school standards, with a greater emphasis on analytical reasoning and quantitative analysis than most programs.[2]

Academic rigor has a strong influence on the school's culture. The first semester, also known as the core, is often considered the most difficult semester by design. Courses are graded using letter grades and on the standard five-point MIT scale. In its graduate programs, anything less than a 4.0 ('B') average will result in the student not being allowed to graduate. Unlike most business schools, MIT Sloan does not offer any academic honors at graduation, consistent with the practice throughout all of MIT. The philosophy behind this is that the 'honor' is in being an MIT graduate.[17]

MIT Sloan closely collaborates with other parts of MIT, in particular the School of Engineering, the School of Science, and the Department of Economics. A special joint degree program with the School of Engineering is the Leaders for Global Operations program, where students concurrently complete an MBA and a Master of Science in Engineering.[18]

MIT Building 10 and the Great Dome, Cambridge MA
MIT Sloan degrees are conferred at Killian Court in the Institute-wide commencement

MIT also collaborates extensively with Harvard University, and students at each institution often pursue simultaneous degrees at the other. MIT Sloan students can freely cross-register for courses at Harvard Business School, and vice versa—the only leading business schools to have such an agreement. As a result, a number of courses have been created at each institution that regularly attract cross-registered students. MIT Sloan and the Harvard Kennedy School offer a formal dual degree program.

In a 2014 article, the school's Dewey Library was rated the best business school library in the country.[19] In 2016, the school's MBA program was ranked #2 worldwide for social and environmental impact by Corporate Knights magazine.[20]

Student life

MIT Sloan students and alumni informally call themselves Sloanies. The MIT Sloan culture is similar to, but also distinct from, overall MIT culture, and is influenced most strongly by its MBA program. MBA students come from more than 60 countries every year, with just over half coming from North America, and 60% holding US citizenship. Prior to business school, engineering is the most popular undergraduate major among students. 40% of the class is female.[21][22]

Creativity and invention are constant themes at the school. The MBA track in Entrepreneurship & Innovation features action learning labs which pair students with companies to learn how to solve complex problems relating to emerging technologies. These action learning labs include Entrepreneurship Lab, Innovation Teams, and Leading Sustainable Systems Lab. Global Entrepreneurship Lab and Global Health Delivery Lab send MBA students to work onsite with startups in different parts of the world. The Martin Trust Center for MIT Entrepreneurship, one of the few business school entrepreneurship centers in the world focused on high tech, offers many other entrepreneurial activities and mentorship throughout the year.[23] The annual MIT $100K Entrepreneurship Competition is one of the largest business plan competitions in the world, helping to launch more than 130 companies with a market capitalization of over $15 billion.[24]

MIT Walker Memorial
Walker Memorial is the primary venue for C-Functions and other events

A staple of MIT Sloan MBA life is the weekly C-Function, which stands for "cultural function" or "consumption function". The school sponsors food and drink for all members of the MIT Sloan graduate community to enjoy entertainment organized by specific campus cultural groups or clubs as well as parties with non-cultural themes. C-Functions are usually held most Thursdays in the Walker Memorial building, which is also used as the venue for many other MIT Sloan community events. MIT Sloan alumni groups around the world also organize C-Functions for their club members, for social and networking activities.

Students at MIT Sloan run over 70 active clubs.[25] Some of the most popular clubs are the Sloan Women in Management Club;[26] the Entrepreneurship & Innovation Club; the Design Club; the Finance Club; the Management Consulting Club; the Entertainment, Media and Sports Club; the Venture Capital and Private Equity Club; the Product Management Club;[27] and the Technology Club. The Sloan Business Club is the official undergraduate business club for all MIT students.[28]

Throughout the school year, a number of professional and academic conferences are organized by, or in partnership with, the school. Annual highlights include the MIT $100K Entrepreneurship Competition, the MIT Venture Capital & Innovation Conference, the Sloan Women in Management Breaking the Mold Conference, the MIT Sloan CIO Symposium, and the MIT Sloan CFO Summit. The most visible conference—and the largest student-run conference in the world—is the MIT Sloan Sports Analytics Conference, which Fast Company ranked the #3 most innovative sports company, behind only the NFL and MLB Advanced Media.[29] The conference brings managers, players, and coaches from over 80 professional sports teams together with journalists, researchers, and students from over 170 different schools. With its focus on analytics in the sports industry, Bill James, the creator of Sabermetrics, said that "this conference is a culmination of 30 years of my work."[30]

Like the rest of the institute, MIT Sloan students have an extended period between semesters reserved for special activities. During the month of January, there are no formal classes at the school; instead, they are replaced by what is known as the Independent Activities Period (IAP). During IAP, students engage in activities that would be challenging to participate in alongside regular classes, often including international travel programs. In the middle of semesters, the MBA program has an additional, shorter gap, called the Sloan Innovation Period (SIP), focusing on intensive experiential leadership activities outside of the classroom.[31]

After commencement, MIT Sloan graduates wear the MIT class ring, known as the Brass Rat. Top recruiters of new MBA graduates of the school include Apple, Google, Goldman Sachs, McKinsey & Company, Nike and Amazon. The school has over 20,000 alumni globally in 90 countries, with more than 20% who are presidents or CEOs. More than 650 companies have been founded by alumni of the school, including Akamai, E*Trade, Gartner, Genentech, HubSpot, Lotus Software, Teradyne, Zipcar, and Okta.[32][33]

Faculty

Ford-MIT Nobel Laureate Lecture Series 2000-09-18
Nobel Laureates Franco Modigliani, Paul Samuelson and Robert Solow in 2000

Deans

Notable current and former faculty

Notable alumni

See also

References

  1. ^ "About MIT Sloan Program Statistics" (PDF). MIT Sloan School of Management. 2015. Retrieved December 31, 2016.
  2. ^ a b c d e "About MIT Sloan". MIT Sloan School of Management. Retrieved August 2, 2015.
  3. ^ "Most Selective Business Schools". Bloomberg BusinessWeek. October 20, 2011. Archived from the original on November 1, 2011.
  4. ^ "MIT - Sloan School of Management | MetroMBA". MetroMBA. Retrieved 2017-09-12.
  5. ^ "The MIT 150: 150 Ideas, Inventions, and Innovators that Helped Shape Our World". The Boston Globe. May 15, 2011. Retrieved August 8, 2011.
  6. ^ "Singaporean President Tony Tan hosts MIT delegation". MIT News. July 24, 2015. Retrieved August 1, 2015.
  7. ^ "QS World University Rankings by Subject 2017 - Business & Management Studies". Quacquarelli Symonds. 2017. Retrieved 2017-03-15.
  8. ^ "World University Rankings by subject: business and economics". Times Higher Education. 2016. Retrieved 2016-10-29.
  9. ^ "Best Global Universities for Economics and Business". U.S. News & World Report. 2017. Retrieved 2017-03-15.
  10. ^ "The 50 best business schools in the world". Business Insider. 2015. Retrieved 2016-02-06.
  11. ^ "Global MBA Ranking". Financial Times. 2019. Retrieved 2019-01-31.
  12. ^ "Best B-Schools". Bloomberg Businessweek. 2018-12-16.
  13. ^ "The Best Business Schools". Forbes. 2017. Retrieved 2018-03-12.
  14. ^ "2019 Best Business Schools Rankings". U.S. News & World Report. March 20, 2018. Retrieved March 24, 2018.
  15. ^ "Best Business Schools". Vault.com. 2017. Retrieved 2018-03-12.
  16. ^ "2019 Best Undergraduate Business Programs Rankings". U.S. News & World Report. 2018-09-09.
  17. ^ Morales, Andrew (August 1, 2014). "Where We Earn Our Honors". MIT Sloan School of Management. Retrieved August 1, 2015.
  18. ^ "Leaders for Global Operations". Massachusetts Institute of Technology. Retrieved May 21, 2015.
  19. ^ "12 Exceptional Business School Libraries". CEO Magazine. Retrieved August 11, 2015.
  20. ^ "2016 Better World MBA results". Corporate Knights. Retrieved 2016-10-30.
  21. ^ "Record percentage of women to enter MIT Sloan this year". CBS. Archived from the original on September 23, 2015. Retrieved August 11, 2015.
  22. ^ "Class Profile". MIT Sloan School of Management. Retrieved December 31, 2016.
  23. ^ "Entrepreneurship & Innovation Track". MIT Sloan School of Management. Retrieved August 2, 2015.
  24. ^ "The MIT $100K Entrepreneurship Competition". MIT Sloan School of Management. Retrieved August 2, 2015.
  25. ^ Pai-Ling Yin. "MIT Sloan Student Clubs". MIT Sloan School of Management. Retrieved May 20, 2014.
  26. ^ "MIT Sloan Women In Management". Sloan Women In Management. Retrieved May 20, 2014.
  27. ^ "The MIT Product Management Club". The MIT Product Management Club. Retrieved May 20, 2014.
  28. ^ "Business clubs join together". The Tech. October 19, 2010.
  29. ^ "The World's 50 Most Innovative Companies: Top 10: Sports". Fast Company. May 1, 2012. Retrieved June 11, 2013.
  30. ^ "The B.S. Report: 3/2". ESPN. February 3, 2012. Retrieved March 4, 2013.
  31. ^ "Sloan Innovation Period". MIT Sloan School of Management. Retrieved August 2, 2015.
  32. ^ "MIT Sloan MBA Program". MIT Sloan School of Management. Retrieved August 1, 2015.
  33. ^ "Student To Founder Series: Interview With Frederic Kerrest | The MIT Entrepreneurship Review". miter.mit.edu. Retrieved 2017-09-24.
  34. ^ Johnson, Howard Wesley, Holding the Center: Memoirs of a Life in Higher Education, MIT Press, 2001. ISBN 0-262-60044-7

External links

Adi Godrej

Adi Burjorji Godrej (born 3 April 1942) is an Indian billionaire industrialist and businessman, head of the Godrej family, and chairman of the Godrej Group. As of 2018, he has a net worth of US$2.9 billion.

Andrew McAfee

Andrew Paul McAfee (born c. 1967) is co-director of the MIT Initiative on the Digital Economy, and the associate director of the Center for Digital Business at the MIT Sloan School of Management, studying the ways information technology (IT) affects businesses and business as a whole.

Bruce S. Gordon

Bruce Scott Gordon (born February 15, 1946) is a business executive who spent most of his career with Verizon and currently serves as a corporate director of CBS, Northrop Grumman, and Tyco International. He was selected in June 2005 to head the NAACP, a major American civil rights organization. Gordon served in that position until March 2007.

Chi-Won Yoon

Chi-Won Yoon (born 2 June 1959) is a South Korean financier and executive. Formerly president of UBS Group Asia Pacific, he stepped down in 2016 after nearly seven years in the position to take a sabbatical.He was also a member of the board of UBS Securities Co. Ltd. and chair of the Asian Executive Board of the MIT Sloan School of Management.

Daryl Morey

Daryl Morey (born September 14, 1972) is an American sports executive. He has been the general manager of the Houston Rockets of the National Basketball Association since 2007. He is a strong proponent of analytical methods, having created the "true shooting percentage" statistic, and co-founded the annual MIT Sloan Sports Analytics Conference. Morey's basketball philosophy, heavily reliant on analytics, favors three-point field goals over mid-range jumpers. This style has been dubbed "Moreyball", as a nod towards Michael Lewis's Moneyball.

Erik Brynjolfsson

Erik Brynjolfsson (born 1962) is an American academic. He is a professor at the MIT Sloan School of Management, Director of the MIT Initiative on the Digital Economy, Director of the MIT Center for Digital Business and a Research Associate at the National Bureau of Economic Research. He is known for his contributions to the world of IT Productivity research and work on the economics of information more generally.

Herman R. Staudt

Herman R. Staudt (born 1926) was United States Under Secretary of the Army from 1973 to 1975.

Jay Wright Forrester

Jay Wright Forrester (July 14, 1918 – November 16, 2016) was a pioneering American computer engineer and systems scientist. He was a professor at the MIT Sloan School of Management. Forrester is known as the founder of system dynamics, which deals with the simulation of interactions between objects in dynamic systems and is most often applied to research and consulting in organizations and other social systems.

John S. Reed

John Shepard Reed is the former chairman of the New York Stock Exchange. He previously served as chairman and CEO of Citicorp, Citibank, and post-merger, Citigroup. He is the past chairman of the Massachusetts Institute of Technology's board of trustees.

John Sterman

John David Sterman is the Jay W. Forrester Professor of Management, and the current director of the MIT System Dynamics Group at the MIT Sloan School of Management. He is also co-faculty at the New England Complex Systems Institute. He is mostly considered as the current leader of the System Dynamics school of thought. He is the author of "Business Dynamics: Systems Thinking and Modeling for a Complex World".

Prof. Sterman has twice been awarded the Jay W. Forrester Prize for the best published work in system dynamics, won an IBM Faculty Award, won the Accenture Award for the best paper of the year published in the California Management Review, has seven times won awards for teaching excellence, and was named one of the MIT Sloan School's "Outstanding Faculty" by the Business Week Guide to the Best Business Schools. He has been featured on public television's News Hour, National Public Radio's Marketplace, CBC television, Fortune, the Financial Times, Business Week, and other media for his research and innovative use of interactive simulations in management education and policymaking.

He was an undergraduate at Dartmouth College and received his Ph.D from the MIT Sloan School of Management in 1982. [1]

His research focuses on improving managerial decision making in complex systems. He has pioneered so-called "management flight simulators" used for learning to manage the complexity of corporate and economic systems.

John W. Thompson

John Wendell Thompson (born April 24, 1949) is an American technology executive, serving as the current Chairman of Microsoft. He is a former chief executive of Virtual Instruments, a Vice-President at IBM and the former chief executive of Symantec. Thompson later became an independent Director on the Board of Microsoft, and on February 4, 2014, he was named the Chairman of the Board. He led the search for Microsoft's next CEO; as a result, Satya Nadella was selected.

Judy Lewent

Judith Carol Lewent is on the board of directors for GlaxoSmithKline since April 2011, Thermo Fisher Scientific and Motorola Solutions. She worked from 1980 to 2007 at Merck & Co. where she spent time as executive vice president and chief financial officer. She was also on the board of US Company Purdue Pharma until 2014

Megan Brennan

Megan Jane Brennan (born 1961) is the Postmaster General of the United States. The seventy-fourth postmaster general, Brennan became the first woman to hold the office when she assumed the position on February 1, 2015.

Nitin Nohria

Nitin Nohria (born February 9, 1962) is an Indian-born American academic. He serves as the tenth and the current dean of Harvard Business School. He is also the George F. Baker Professor of Administration.

Peter Levine (venture capitalist)

Peter J. Levine is an American engineering executive and venture capitalist.

Peter Senge

Peter Michael Senge (born 1947) is an American systems scientist who is a senior lecturer at the MIT Sloan School of Management, co-faculty at the New England Complex Systems Institute, and the founder of the Society for Organizational Learning. He is known as the author of the book The Fifth Discipline: The Art and Practice of the Learning Organization (1990, rev. 2006).

Richard L. Van Horn

Richard L. Van Horn (born November 2, 1932 in Chicago, Illinois) was the seventh president of the University of Houston and the 12th president of the University of Oklahoma.

Van Horn was born in Chicago, Illinois but raised in Fort Wayne, Indiana. Van Horn earned a BS in industrial administration from Yale University; an MBA from the MIT Sloan School of Management; and a PhD in systems science from Carnegie-Mellon University. He spent 16 years at Carnegie-Mellon as a faculty member, associate dean of the Graduate School of Industrial Administration, vice president for business affairs, vice president for management and provost. He went on to serve six years as the president of the University of Houston and University of Oklahoma. He served as president of Oklahoma from 1989 to 1994. Outside of academia, he spent ten years at the Rand Corporation, a nonprofit global policy think tank.

Robert C. Merton

Robert Cox Merton (born July 31, 1944) is an American economist, Nobel Memorial Prize in Economic Sciences laureate, and professor at the MIT Sloan School of Management, known for his pioneering contributions to continuous-time finance, especially the first continuous-time option pricing model, the Black–Scholes formula. In 1993 Merton co-founded hedge fund Long-Term Capital Management. In 1997 he received the Nobel Prize for his contributions in Economics.

Robert Garriott

Robert K. Garriott (born December 7, 1956) is an American computer game industry figure and entrepreneur. He co-founded Origin Systems and Destination Games with his brother, Richard Garriott, and was the CEO of NCsoft-North America until 2008. He is the second-eldest son of NASA astronaut Owen K. Garriott. Garriott was graduated from the MIT Sloan School of Management in 1983 with a Master of Science in Management and also earned degrees in Electrical Engineering from Rice University, and a master's degree in Engineering Economic Systems from Stanford University.In 1983 he co-founded computer game developer Origin Systems with his younger brother Richard "Lord British" Garriott. He was a vice president and later an executive vice president at Electronic Arts (EA) after the company acquired Origin in 1992. Garriott left EA in 1995 and co-founded Destination Games in 2000. Destination was bought by NCsoft in 2001 and he became president and CEO of NCsoft-North America.

Academics
Research
People
Culture
Campus
Athletics
Notable projects

This page is based on a Wikipedia article written by authors (here).
Text is available under the CC BY-SA 3.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.