MIT Sloan School of Management
Type | Private business school |
---|---|
Established | 1914 |
Parent institution | Massachusetts Institute of Technology |
Endowment | $1.6 billion[1] |
Dean | David Schmittlein |
Academic staff | 116[2] |
Students | 1,300[3] |
Location | , , United States 42°21′39″N 71°05′02″W / 42.360732°N 71.083774°W |
Website | mitsloan |
The Sloan School of Management at Massachusetts Institute of Technology (branded as MIT Sloan or Sloan) is the business school of the Massachusetts Institute of Technology, a private university in Cambridge, Massachusetts.[3] MIT Sloan offers bachelor's, master's, and doctoral degree programs, as well as executive education.[3] Its degree programs are among the most selective in the world.[4]
MIT Sloan emphasizes innovation in practice and research.
History
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.[5]
A program offering a master's degree in management was established in 1925. The world's first university-based mid-career education program—the
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
Academics
Business Rankings | |
---|---|
U.S. MBA | |
Bloomberg (2024)[10] | 10 |
QS (2024)[11] | 4 |
U.S. News & World Report (2024)[12] | 5 |
Global MBA | |
QS (2024)[13] | 3 |
Financial Times (2024)[14] | 6 |
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.[3]
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.[15]
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 (LGO) program, where students concurrently complete an MBA and a Master of Science in engineering.[16] Another joint degree program aimed at students with more industry experience (an average of 8 to 10 years) is the System Design and Management (SDM) program,[17] where students complete a Master of Science in Engineering and Management. Whereas Sloan Fellows focus primarily on management coursework, LGO and SDM fellows complete a relatively equal mixture of engineering and management coursework.
MIT also collaborates extensively with
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.[18] 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.[19]
In a 2014 article, the school's Dewey Library was rated the best business school library in the country.[20] In 2016, the school's MBA program was ranked #2 worldwide for social and environmental impact by Corporate Knights magazine.[21]
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. 46% of the class is female.[22]
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.[23] Some of the most popular clubs are the Sloan Women in Management Club;[24] 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;[25] and the Technology Club. The Sloan Business Club is the official undergraduate business club for all MIT students.[26]
Throughout the school year, a number of professional and academic conferences are organized by, or in partnership with, the school. Annual highlights include the
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.[28]
After commencement, MIT Sloan graduates wear the
Faculty
Deans
- Erwin Schell, 1930–1951
- Edward Pennell Brooks, 1951–1959
- Howard W. Johnson, 1959–1966[31]
- William F. Pounds, 1966–1980
- Abraham Siegel, 1980–1987
- Lester Thurow, 1987–1993
- Glen L. Urban, 1993–1998
- Richard L. Schmalensee, 1998–2007
- David Schmittlein, 2007–present
Notable current and former faculty
- Noubar Afeyan, co-founder, Moderna
- Dan Ariely, author, Predictably Irrational
- Bill Aulet, Managing Director, Martin Trust Center for MIT Entrepreneurship
- Jean-Noël Barrot, Minister of Digital Transition, France
- organizational studies
- Warren Bennis, pioneer in leadership studies
- Fischer Black, co-inventor, Black–Scholes model
- Lael Brainard, director of the National Economic Council
- Erik Brynjolfsson, director, MIT Center for Digital Business
- Randolph Cohen, leading expert on financial economics
- Paul Cootner, co-inventor, random walk hypothesis
- John C. Cox, co-inventor, binomial options pricing model
- Donald W. Davis, former CEO, Stanley Black & Decker
- John J. Donovan, founder, Cambridge Technology Partners
- Rudi Dornbusch, inventor, overshooting model
- Stanley Fischer, 8th Governor, Bank of Israel
- Jay Wright Forrester, founder, system dynamics
- business process reengineering
- John R. Hauser, co-founder, marketing science
- Jerry A. Hausman, 1985 John Bates Clark Medal recipient
- Nobel laureate in economics
- Thomas Kochan, leading expert on industrial relations
- Chief Economist, IMF
- S. P. Kothari, editor, Journal of Accounting and Economics
- John Little, co-founder, marketing science
- Andrew Lo, inventor, adaptive market hypothesis
- Peter Lorange, former president, IMD
- Stuart Madnick, inventor, Little Man Computer model
- Thomas W. Malone, co-founder, We Are Smarter Than Me
- MIT Initiative on the Digital Economy
- Nobel laureate in economics
- Douglas McGregor, inventor, Theory X and Theory Y
- Nobel laureate in economics
- Kenneth Morse, co-founder, 3Com
- Stewart Myers, inventor, real options valuation
- Athanasios Orphanides, 5th Governor, Central Bank of Cyprus
- Wanda Orlikowski, leading expert on structuration theory
- Stephen Ross, inventor, arbitrage pricing theory
- Nobel laureate in economics
- corporate culture
- Nobel laureate in economics
- Peter Senge, author, The Fifth Discipline
- George P. Shultz, 60th United States Secretary of State
- Nobel laureate in economics
- John Sterman, leading expert on system dynamics
- Richard Thaler, inventor, endowment effect
- Eric von Hippel, leading expert on user innovation
- Jack Welch, former CEO, General Electric
- organizational studies
Notable alumni
This article's list of alumni may not follow Wikipedia's verifiability policy. (April 2024) |
- comScore
- Duane Ackerman, former CEO, BellSouth
- Thad W. Allen, 23rd Commandant of the Coast Guard
- Saudi General Investment Authority
- Kofi Annan, 7th Secretary-General of the United Nations
- Finance Minister, Ecuador
- Darden School of Business
- Frank Blount, former CEO, Telstra
- Megan Brennan, 74th United States Postmaster General
- Daniel Carp, chairman, Delta Air Lines
- Popular
- Eastman Kodak
- Robin Chase, co-founder, Zipcar[32]
- Lim Kim Choon, CEO, Civil Aviation Authority of Singapore
- Bill Ford, chairman, Ford Motor Company
- Philip Condit, former CEO, Boeing
- Marian Czakański, Minister of Health of Poland
- Alex d'Arbeloff, co-founder, Teradyne
- Rafael del Pino Calvo-Sotelo, chairman, Ferrovial[32]
- Eric Daniels, former CEO, Lloyds Banking Group
- Patrick Donahoe, 73rd United States Postmaster General
- Susan Dudley, former head, Office of Management and Budget
- Armand Feigenbaum, former president, American Society for Quality
- Carly Fiorina, former CEO, Hewlett-Packard
- Donald Fites, former CEO, Caterpillar
- James Foster, CEO, Charles River Laboratories
- Robert Garriott, co-founder, Origin Systems
- Gideon Gartner, founder, Gartner
- Minister for Culture, Greece
- Wharton School of the University of Pennsylvania
- Shuman Ghosemajumder, co-founder and chairman, TeachAids[32]
- Sumantra Ghoshal, founding dean, Indian School of Business
- Adi Godrej, chairman, Godrej Group
- NAACP
- Ilene Gordon, CEO, Ingredion
- Brian Halligan, co-founder and CEO, HubSpot[32]
- Chicago Booth School of Business
- MasterCard, Centrica
- John Hennessy, CEO, Credit Suisse First Boston
- Daniel Hesse, CEO, Sprint Corporation
- Yang Hua, president, China National Offshore Oil Corporation
- Neo Kian Hong, 7th Head of Singapore Armed Forces
- Sir Robert Horton, former CEO, BP
- Robert Huang, founder and chairman, Synnex
- Thai Royal Family
- Michael Kaiser, president, Kennedy Center for the Performing Arts
- Mitch Kapor, founder, Lotus Software
- Robert Kennedy, dean, Ivey Business School
- James Killian, 10th president, Massachusetts Institute of Technology
- Robert Kuhn, host, Closer to Truth (PBS)
- Kleiner Perkins Caufield & Byers
- John Legere, Former CEO, T-Mobile US
- Douglas Leone, managing partner, Sequoia Capital
- Peter Levine, general partner, Andreessen Horowitz
- Merck & Co
- Mauro Longobardo, CEO, ArcelorMittal Kryvyi Rih
- Nabiel Makarim, former Minister of the Environment, Indonesia
- Jamie McCourt, former CEO, Los Angeles Dodgers[32]
- Dennis Meadows, co-author, The Limits to Growth
- D.R. Mehta, former chairman, Securities and Exchange Board of India
- Lorenzo Mendoza, chairman, Empresas Polar
- Victor Menezes, co-founder, American India Foundation
- Minister of Labor, Chile
- Robert Metcalfe, co-founder, 3Com, inventor of Ethernet
- Chung Mong-joon, president, Korea Football Association
- Daryl Morey, general manager, Houston Rockets[32]
- Jon Moynihan, former chairman, PA Consulting Group
- Alan Mulally, former CEO, Ford Motor Company
- Preetish Nijhawan, co-founder, Akamai Technologies
- Benjamin Netanyahu, 9th Prime Minister of Israel
- Nitin Nohria, dean, Harvard Business School
- Sanjay Parthasarathy, founder and CEO, Indix
- Narendra Patni, founder and CEO, Patni Computer Systems
- The Apprentice, Season 4[32]
- Cressida Pollock, CEO, English National Opera
- William Porter, founder, E*Trade
- John Potter, 72nd United States Postmaster General
- Tony Purnell, former head, Jaguar Racing
- Governor of the Reserve Bank of India
- John Reed, former CEO, Citigroup
- Howard Samuels, former chairman, Democratic National Committee
- Martha Samuelson, CEO, Analysis Group
- Richard Santagati, chairman, NYNEX
- Gerhard Schulmeyer, former CEO, Siemens
- Patrick M. Shanahan, former acting United States Secretary of Defense
- Antony Sheriff, managing director, McLaren Automotive
- Sumana Shrestha, Minister of Education, Science and Technology, Nepal
- Chan Chun Sing, Chief of Army, Singapore
- Hannes Smárason, CEO, Icelandair
- Chartsiri Sophonpanich, president, Bangkok Bank
- Herman Staudt, former Under Secretary of the Army
- Jeff Stibel, former CEO, Web.com
- Robert Swanson, founder, Genentech
- NTT DoCoMo[32]
- Mervyn Tan, Chief, Republic of Singapore Air Force
- Fast Company[32]
- Stavros Thomadakis, chairman, Hellenic Capital Market Commission
- Richard Van Horn, president, University of Houston
- Finance Minister, Bulgaria
- Ron Williams, former CEO, Aetna
- Thornton Wilson, former CEO, Boeing
- Randy Woelfel, CEO, Nova Chemicals
- Robert Varkonyi, champion, 2002 World Series of Poker
- Carl Yankowski, former CEO, Palm
- Elisabeth Zinser, president, University of Idaho
- Palanivel Thiagarajan, Finance Minister of Tamil Nadu
- Ronald Zlatoper, Commander of the United States Pacific Fleet
See also
- Economics
- Glossary of economics
- MIT Center for Collective Intelligence
- MIT Center for Digital Business
- MIT Center for Entrepreneurship
- MIT Center for Information Systems Research
- MIT Laboratory for Information and Decision Systems
References
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- ^ "MIT – Sloan School of Management | MetroMBA". MetroMBA. Retrieved 2017-09-12.
- ^ "The MIT 150: 150 Ideas, Inventions, and Innovators that Helped Shape Our World". The Boston Globe. May 15, 2011. Retrieved August 8, 2011.
- ^ "Management Education at MIT Sloan Reaches 100 Year Milestone". QS. August 15, 2014.
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- ^ "Global MBA Ranking 2023". Financial Times.
- ^ Morales, Andrew (August 1, 2014). "Where We Earn Our Honors". MIT Sloan School of Management. Retrieved August 1, 2015.
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- ^ "System Design and Management". Massachusetts Institute of Technology. Retrieved April 21, 2020.
- ^ "Entrepreneurship & Innovation Track". MIT Sloan School of Management. Retrieved August 2, 2015.
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- ^ "2016 Better World MBA results". Corporate Knights. Archived from the original on 2016-10-30. Retrieved 2016-10-30.
- ^ "Class Profile". MIT Sloan School of Management. Retrieved January 3, 2022.
- ^ Pai-Ling Yin. "MIT Sloan Student Clubs". MIT Sloan School of Management. Retrieved May 20, 2014.
- ^ "MIT Sloan Women In Management". Sloan Women In Management. Retrieved May 20, 2014.
- ^ "The MIT Product Management Club". The MIT Product Management Club. Retrieved May 20, 2014.
- ^ "Business clubs join together". The Tech. October 19, 2010.
- Fast Company. May 1, 2012. Retrieved June 11, 2013.
- ^ "Sloan Innovation Period". MIT Sloan School of Management. Retrieved August 2, 2015.
- ^ "MIT Sloan MBA Program". MIT Sloan School of Management. Retrieved August 1, 2015.
- ^ "Student To Founder Series: Interview With Frederic Kerrest | The MIT Entrepreneurship Review". miter.mit.edu. Retrieved 2017-09-24.
- ISBN 0-262-60044-7
- ^ a b c d e f g h i j "MIT Sloan Notable Alumni: 10 Famous MBAs from Sloan School of Management". Business Because. April 19, 2021.