MIT Sloan School of Management

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MIT Sloan School of Management 
MIT-sloan.png
Established 1914
Type Private business school
Endowment US$ 678 million (2013)
Dean David Schmittlein
Academic staff
190
Undergraduates 263
Postgraduates 976
Location Cambridge, MA, USA
Coordinates: 42°21′39″N 71°05′02″W / 42.360732°N 71.083774°W / 42.360732; -71.083774
Mission To develop principled, innovative leaders who improve the world and to generate ideas that advance management practice.
Affiliations Massachusetts Institute of Technology
Website mitsloan.mit.edu
MIT Logo

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, USA.[1]

MIT Sloan offers bachelor's, master's, and doctoral programs, as well as non-degree executive education.[2] Its largest program is its full-time MBA, which is one of the most selective in the world,[3] and is ranked #1 in more disciplines than any other MBA program.[4]

MIT Sloan emphasizes innovation in practice and research. Many influential ideas in management and finance originated at the school, including the Black–Scholes model, Theory X and Theory Y, the Solow–Swan model, the Modigliani–Miller theorem, 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 Management Review, a leading academic journal, has been published by the school since 1959. Since 2006, the MIT Sloan Sports Analytics Conference has attracted leaders from professional sports leagues, including the NBA, NFL, NHL, Major League Baseball, and the Premier League.[5]

History[edit]

The MIT Sloan main building, E62

The MIT Sloan School of Management began in 1914, as the engineering administration curriculum (or Course 15 in the MIT parlance) in the MIT Department of Economics and Statistics. The scope and depth of this educational focus have grown steadily in response to advances in the theory and practice of management to today's broad-based management school. A program offering a master's degree in management was established in 1925. The world's first university-based executive education program—the Sloan Fellows program—was created in 1931 under the sponsorship of Alfred P. Sloan, himself an 1895 MIT graduate, who was chairman of General Motors and has since been credited with creating the modern corporation.[6] An Alfred P. Sloan Foundation grant established the MIT School of Industrial Management in 1952 with the charge of educating the "ideal manager", and the school was renamed in Sloan's honor as the Alfred P. Sloan School of Management.

In 1990, the MIT Entrepreneurship Center was founded at MIT Sloan—one of the few business school entrepreneurship centers in the world focused on high tech. It sponsors both the MIT $100K Entrepreneurship Competition as well as the popular Global Entrepreneurship Lab, which sends MBA students to work onsite with startups in different parts of the world. The school has grown 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.

MIT Sloan has numerous international initiatives 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, IMD in Switzerland, 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 Regional Entrepreneurship Acceleration Program (REAP), which brings leaders from developing regions to MIT for two years to improve their economies.[7]

Academics[edit]

Endicott House, longtime site of MIT Sloan executive education programs

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.

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.[8]

MIT Sloan closely collaborates with other parts of MIT, in particular the MIT School of Engineering, the MIT School of Science, and the MIT 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.[9]

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, combining an MBA and Master of Public Policy.

MIT Sloan offers nine degree programs overall: the MBA program, the PhD program, the undergraduate program, the Leaders for Global Operations program, the Master of Finance program, the Master of Science in Management Studies program, the System Design and Management program, the Executive MBA program, and the Sloan Fellows program. The doctoral program is organized into three main areas: Management Science; Behavioral & Policy Sciences; and Economics, Finance & Accounting, with eleven research areas under these.[10]

The school also offers numerous non-degree executive education programs, including the Advanced Management Program, the Advanced Executive Certificate Program in Management, Innovation & Technology, the Executive Certificate in Technology, Operations, and Value Chain Management, the Executive Certificate in Management and Leadership, and the Executive Certificate in Strategy and Innovation.

Student life[edit]

The MIT Sloan culture is similar to, but also distinct from, overall MIT culture, and is influenced most strongly by its MBA program. MIT Sloan graduates wear the famous MIT class ring, known as the Brass Rat. MIT Sloan students and alumni informally call themselves Sloanies.

A staple of MIT Sloan 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. These functions are held on most Thursdays, often in the Walker Memorial building near the school. MIT Sloan alumni groups around the world also organize C-Functions for their club members, for social and networking activities. C-Functions are usually held in the Walker Memorial building, which is also used as the venue for many other MIT Sloan community events.

Walker Memorial, the usual site for C-Functions and other events

Students at MIT Sloan have organized about 25 business and professional clubs, 30 cultural or personal affiliation clubs and 8 sports and recreation clubs.[11] Some of the most popular clubs are Sloan Women in Management (SWIM);[12] Design Club; Finance Club; Management Consulting Club; Entertainment, Media and Sports (EMS) Club; Venture Capital and Private Equity (VCPE) Club; Product Management Club;[13] and the MIT Sloan Technology Club. The Sloan Business Club is the official undergraduate business club for all MIT students.[14]

During the month of January, there are no formal classes at the school; instead, they are replaced by a period known as the Independent Activities Period (IAP). During IAP, students engage in special activities, often including international travel programs. Between semesters, the MBA program has a period called the Sloan Innovation Period (SIP), focusing on intensive experiential leadership activities outside of the classroom.

The school has over 20,000 alumni globally, with more than 20% being presidents or CEOs. Top recruiters of new MBA graduates of the school include Apple, Google, Goldman Sachs, McKinsey & Company, and Nike.[15]

Faculty[edit]

Deans

Notable current and former faculty

Notable alumni[edit]

Sequoia Capital Managing Partner, Douglas Leone 

See also[edit]

References[edit]

  1. ^ About MIT Sloan: Mission
  2. ^ About MIT Sloan: Students and Alumni
  3. ^ "Most Selective Business Schools". Bloomberg BusinessWeek. October 20, 2011. 
  4. ^ US News Business Specialties
  5. ^ "The World's 50 Most Innovative Companies: Top 10: Sports". Fast Company. May 1, 2012. Retrieved June 11, 2013. 
  6. ^ "The MIT 150: 150 Ideas, Inventions, and Innovators that Helped Shape Our World". The Boston Globe. May 15, 2011. Retrieved August 8, 2011. 
  7. ^ "Singaporean President Tony Tan hosts MIT delegation". MIT News. July 24, 2015. Retrieved August 1, 2015. 
  8. ^ "Where We Earn Our Honors". 
  9. ^ "Leaders for Global Operations Website". Retrieved May 21, 2015. 
  10. ^ "MIT Sloan PhD Program". Retrieved July 13, 2014. 
  11. ^ Pai-Ling Yin. "MIT Sloan Student Clubs | Clubs & Activities | MIT Sloan Community | MIT Sloan MBA". MIT SLOAN SCHOOL OF MANAGEMENT. Retrieved 2014-05-20. 
  12. ^ "MIT Sloan Women In Management". Sloan Women In Management. Retrieved 2014-05-20. 
  13. ^ "The MIT Product Management Club | Educate, prepare, connect, lead". The MIT Product Management Club. Retrieved 2014-05-20. 
  14. ^ "Business clubs join together". MIT Tech. Oct 19, 2010. 
  15. ^ "MIT Sloan MBA Program". MIT Sloan School of Management. 2015. 
  16. ^ Johnson, Howard Wesley, Holding the Center: Memoirs of a Life in Higher Education, MIT Press, 2001. ISBN 0-262-60044-7

External links[edit]