“The world knows a lot about MIT, but some of the most remarkable things you just can’t know until you get here. For example, the incredible energy of the place. There’s a kind of crackling drive and curiosity that fills the air. MIT feels like a stadium with no seats—everyone is in the game, sometimes 24 hours a day.”Susan Hockfield, MIT PresidentMBA Class of 2013 Profile* Age range 21–43Work range 0–11Mean years’ work experience 5GMAT range (middle 80%) 660–750Mean GMAT 711Females 38%Males 62%U.S. citizens 57%U.S. permanent residents 4%International 39%Africa < 1%Asia 17%Europe 8%Middle East 2%North America 63%Oceania < 1%South America 9% Undergraduate Degrees Business and Commerce 21%Computer Science 3%Engineering 36%Humanities, Arts, andSocial Sciences 32%Science and Math 8%*As of June 1, 2011 n=398
4 The one-semester Core 6 The classroom 8 Career opportunities 10 Alumni network 12 The MIT in MIT Sloan 14 Community 16 Action learning 18 rincipled leadership P2 0 inance F 2 Innovation22 4 Sustainability2 6 Engagement2 8 Combined degrees exchange programs3 0 Loans scholarships 2 Apply now visit3
“MIT Sloan is a culture of doers. Engaged students are driving high- powered projects, but it’s low key. Even if a fellow student has just started a business that is having a huge impact on a global scale, it’s no big deal here. Nobody brags. Everyone is too busy doing and helping others do.” Jon Gensler, MBA/MPA ’11 Read more about what these and other MIT Sloan students are doing at MIT and around the world: Shayna Harris, MBA ’11 Undergrad: International Relations Political Science, Boston University B efore MIT Sloan: Fulbright Scholar in rural Brazil; led national and global campaigns to encourage corporate social responsibility and economic development for Oxfam and other organizations At MIT Sloan: ofounded MIT Food and Agriculture Collaborative; cofounded NGO startup Supply Change, C runner-up and winner of the Audience Choice Award, MIT $100K Elevator Pitch Contest Guillaume Fernet, MBA ’11 Undergrad: Engineering, École Polytechnique, Paris efore MIT Sloan: Senior management roles in finance and operations at British and French utilities companies B At MIT Sloan: iebel Scholar; Co-president, MIT Energy Club; judge, MIT Clean Energy Prize; Sponsorship Director, S MIT Energy Conference Vanessa Green, MBA ’11 Undergrad: Environmental Studies, Dartmouth College; SM, Civil Environmental Engineering, MIT B efore MIT Sloan: Cofounder, Community Water Solutions, Ghana; Manager of Engineering and Environment, TECOM Investments, Dubai At MIT Sloan: Founder CEO, OnChip Power; Managing Director, MIT Energy Conference David Auerbach, MBA ’11 Undergrad: American Studies, Yale University B efore MIT Sloan: Headed Partnerships, Policy, and Outreach Division, Endeavor; Deputy Chair for Poverty Alleviation, Clinton Global Initiative; Yale-China Teaching Fellow At MIT Sloan: Cofounded Sanergy, winner of the 2011 MIT $100K; Co-president, MIT Sloan Entrepreneurs for International Development Limor Zehavi, LGO ’12 Undergrad: Industrial Engineering and Management, Technion-Machon Technologi Le’ Israel B efore MIT Sloan: Industrial engineer, EL AL Airlines At MIT Sloan: Organized Domestic Plant Trek across the United States and the International Plant Trek across South America; honored with the Charles “Harrison” Smith III Memorial Award for leadership activities
4 5 The foundation The one-semester Core is the key to the dynamism and flexibility of the MIT Sloan MBA Program. “Core” refers to the essential knowledge that students build during this very intensive first semester, giving them a rigorous foundation upon which to design the next three semestersThe one-semester Core: of their MBA experience. The MIT Sloan MBA class is strategically small—aboutbuilding a foundation 400 students—and represents approximately 65 countries. Students are grouped together in diverse teams of six or seven as part of a larger cohort of 67 who remain together in all Core classes. Study team“Bottom line: the Core semester experiences and group field projects during the Core semester turn students into lifelong global team players. is confidence building.” Many students and alumni consider this Core model— a strong foundation followed by broad exploration—toJon Gleicher, MBA ’12 be one of the most significant differentiators of the MIT Sloan experience and key to the extraordinary value the program delivers. “The one-semester Core program is short, rigorous, and necessary. We learn a lot very quickly. It’s an opportunity to make mistakes within a safe community during a period that is, basically, nonstop teaching and learning moments. The quality of the people you meet and the relationships you build are amazing. We all bring something special to the table. My background is not in business or technology, it’s in teaching and nonprofits, but I felt I had a lot to contribute. When December rolls around, you realize you have the foundation skills you need to pursue your agenda—and the analytical rigor necessary to approach any problem. That reputation for rigor is well known. You find doors open wherever you go, across MIT and out in the world.” Jon Gleicher, MBA ’12
How it works The fall term of the first year—the one-semester Core—features required courses that give students a rigorous foundation in any area of business:• Economic Analysis for Business Decisions• Data, Models, and Decisions• Communication for Leaders• Organizational Processes• Financial Accounting Students choose one of these electives during the Core semester:• Finance Theory I• Marketing Management During the one-semester Core, students pursuing the Entrepreneurship and Innovation Track or the Finance Track work with industry experts on real-world problems in these proseminars:• Introduction to Technological Entrepreneurship• Introduction to the Practice of Finance “We have the quantitative and the analytical but we also have the collaborative skill and the breadth of knowledge—that’s a significant combination.” Bethany Logan Ropa, MBA ’08 Associate Director, UBS Investment Bank
6 7 “I cherish the emphasis on cutting-edge research and the fact that we’re encouraged to bring it right into the classroom. One of my favorite things about teaching at MIT Sloan is the diversity and high quality ofThe classroom: students. They are eager to learn new things, they think independently, and they’re willinglearning on the leading edge to tackle difficult issues. By that I don’t mean mathematical problems, but rather that they are eager to think through complex issues even in cases where research has not been able to find ‘cookbook solutions.’ ”“The classroom experience is special at MIT Sloan Antoinette Schoar, Michael M. Koerner (1949) Professor of Entrepreneurship because it’s a multidirectional flow of learning—the and Professor of Finance; 2009 winner, Ewing Marion Kauffman Prize students learn from the faculty, from one another, Medal for Distinguished Research in Entrepreneurship and the faculty learn from the students.” Renée Richardson Gosline, Assistant Professor of Marketing Unprecedented flexibility Students come to MIT Sloan because they want to accomplish big things, and they need latitude to do that—the flexibility to move across a virtually boundless landscape of opportunity. MIT Sloan students choose 75% of their coursework from a broad and deep selection of electives. The pedagogy is a hybrid of the qualitative and the quantitative, rigorous classroom learning and global action-learning experiences, case study analysis and frank discussions with corporate and government leaders. And because of the small class size, MIT Sloan students have the opportunity to establish close, mentoring relationships with faculty, who are renowned experts in their fields.
“I enjoy the course load more because it is a schedule that I was able to create.”Josh Rider, MBA ’12 Renée Richardson Gosline, Assistant Professor of Marketing The World’s Top 40 B-School Profs Under the Age of 40 “Poets and Quants searched near and far to uncover this remarkable group of men and women, some of whom have barely reached the age of 30, yet they have made a name for themselves as rising stars in business academia.”Helping the world digest a crisis From poetsandquants.com.The former chief economist for theInternational Monetary Fund, Simon Johnson Four MIT Sloan professors made the Top 40—(pictured above), the Ronald A. Kurtz more than any other school:(1954) Professor of Entrepreneurship, pens • Joshua Ackerman, Assistant Professor of Marketinginfluential bulletins from the financial frontin The New York Times’ “Economix” and can • Renée Richardson Gosline, Assistant Professorbe seen dissecting the economic crisis in the of MarketingOscar-winning documentary Inside Job. He • Tavneet Suri, Assistant Professor ofalso wrote, with James Kwak, the critically Applied Economicsacclaimed book about the financial crisis13 Bankers: The Wall Street Takeover and the • Zeynep Ton, Visiting Assistant Professor ofNext Financial Meltdown. Operations Management
8 9 By the numbers MIT Sloan MBA students graduated into jobs in these areas: Top Industries 2010 2009 2008 Consulting 18.9% 17.2% 24.2%Career opportunities: Investment Banking High Technology* 10.7 14.5 8.4 18.9 16.9 17.9strategizing one-on-one Pharmaceutical/Healthcare/Biotechnology 11.0 9.8 8.6 *Includes Computers/Electronics, Software/Internet, and Telecommunications Read the complete 2011 employment report:“We are thought-partners with our students, mitsloan.mit.edu/cdo/class11.php#hirers helping them brainstorm their options—one of the big benefits of MIT Sloan’s relatively small size.”Jackie Wilbur, Senior Director, MIT Sloan Career Development Office (CDO) “The CDO and the faculty are 100% invested in our students’ success. All CDO programs, resources, and services are designed to empower them to manage their careers and conduct job searches successfully. The learning model that we deliver during the two years of the MBA gives us a great vehicle for coaching students through this process. We begin with Career Core, developed with MIT Sloan’s faculty to help students understand and articulate the benefits they will bring to an organization and to the wider world.” Jackie Wilbur, Senior Director MIT Sloan Career Development Office (CDO)
A strategic portfolio of career resources The MIT Sloan MBA Program was the first to integrate a career seminar into the Core curriculum (Career Core), launching students on a focused career path from the very first semester. Developed by faculty and career experts in the MIT Sloan community, the Career Development Office’s suite of time-tested programs is designed to provide essential resources, experiences, and access to the right people, networks, and organizations. Career Core On-campus recruiting program Career Core helps students identify their own A-list companies in many industries visit campus abilities and differentiators and refine their career to recruit students to positions in consulting, management skills. Integrated into the Core financial services, commercial technologies, semester—the first semester of the MIT Sloan biotech, and other fields. Approximately 60% of MBA Program—Career Core is a major catalyst in students obtain their job offers through the on- helping students take the leap in their careers and campus recruiting program. “I can’t stress enough the value of the personal be on their game for recruiting. relationships we establish with the CDO. When Treks I decided to return to retail corporate strategy Career fair Students travel to New York to sit down with after a few years of consulting at Boston Leading recruiters from across the business influential leaders in the banking industry, to Consulting Group, I leveraged the CDO’s spectrum converge on campus to get to know Washington to meet with heads of government resources to connect with an MIT Sloan alum first- and second-year students. and nonprofit organizations, to Las Vegas to learn at Converse.” about the business of entertainment, and to Dwane Morgan, MBA ’08 Internships marketplace hotspots around the world. Senior Manager of Strategic Planning Significant on-the-job career experiences in Converse Inc. companies around the world, internships give students a chance to explore industries, develop skills, and build relationships with prospective employers. The intimate class size works to MIT Sloan students’ advantage when applying for competitive internships.“The CDO connected me with the MIT Sloan network on Wall Street, and I learned everything I needed to know about UBS from the alums there. Now I’m working to recruit new MIT Sloan MBAs to UBS.” Bethany Logan Ropa, MBA ’08 Associate Director, UBS Investment Bank
10 11 By the numbers • MIT Sloan alumni network: 20,000 in 90 countries • MIT alumni network: 120,000Alumni network: • MIT Alumni Association clubs worldwide: 75connecting to you“Whatever you’re interested in, there’s an alum out there doing it and ready to mentor and give advice. It’s been a huge advantage.” Elliot Sedegah, MBA ’11 Serial innovator The Boston Globe recently cited Shuman Ghosemajumder, MBA ’02, as one of MIT’s great innovators. The former “click fraud czar” at Google developed systems to protect advertisers in a $20 billion industry. He joined Google in 2003 as a product manager for AdSense, led the launch and growth of the Link Units business, and helped launch Gmail. Ghosemajumder was the recipient of two Google Founders’ Awards for significant entrepreneurial accomplishments. His MIT Sloan MBA thesis “When I was at MIT Sloan, I sought out alums working with companies I was interested in. I was examined digital distribution. In a bold, public-spirited able to sit down over lunch and talk with them about reaching out to the right hiring managers. move, Ghosemajumder left Google in 2010 to grow I have been out a few years, but I still rely on that tight network. The MIT Sloan Bay Area TeachAIDS, a nonprofit organization that develops network is close and supportive—like family. We meet often. People share their experiences HIV/AIDS prevention education materials. and help each other out. At Apple, I have tried to help MIT Sloan students, show them around the company, and connect them with the right people. In fact, Apple has a committee of MIT grads that meets once a month to strategize on how to recruit more MIT Sloan alums. It’s not just that we’re loyal to our alma mater. We know that MIT Sloan students are coming from a collaborative, supportive, noncompetitive culture—the best kind of work ethic in a team environment like Apple.” Itai Ram, MBA ’09 Product Manager, iPhone/iPad Software, Apple
A powerful alumni network that includes leaders in every facet of the marketplace“One of the great takeaways from my MIT Sloan experience has been the Joaquin E. Bacardi, III, MBA ’98 Homayoun Hatami, MBA ’00 network. When I was in China a few weeks ago, I had dinner with a friend President and CEO, Bacardi Principal, McKinsey Company from the program. He’s in Hong Kong now, and we were churning through Corporation Judy C. Lewent, SM ’72 ideas for new business opportunities there. From Hong Kong, I flew to Robin Chase, SM ’86 Former Executive Vice President Canada and had dinner with another former classmate. Anywhere I go in CEO, GoLoco, and CFO, Merck Co., Inc. the world, I reconnect with someone from the MIT Sloan network. Whether Cofounder, Zipcar I’m looking for a job, a new business opportunity, or just catching up with Brendan Miller, MBA ’04 an old friend, it’s impossible to overestimate the value of the vast global Brad Feld, SB ’87, SM ’88 Green Economy Manager, network I was able to build. I use it every day.” Managing Director, State of New Mexico Tolu Adeleye, MBA ’04 Mobius Venture Capital Saadiq Rodgers-King, MBA ’08 Manager, Group Strategy Development Entrepreneur, Cofounder, Pratt Whitney, A United Technologies Company Hot Potato Read alumni blogs: mitsloan.mit. edu/mba/alumni/blogs.php and profiles mitsloan.mit.edu/ mba/alumni/profiles.php Admiral Thad Allen, SF ’89, retired U.S. Coast Guard Commandant, shares his thoughts on leadership through the Gulf oil spill crisis.
12 13 Cross-campus exploration Want to know the secret to making perfect sushi? Understand the inner workings of the stock market? Learn how to tell stories for fun and profit? Every January during Independent Activities Period (IAP), members of the MIT community reach out and share theirThe MIT in MIT Sloan: knowledge, offering more than 700 classes to the wider Institute community.collaborating across campus An interim session between the first and second semesters, IAP offers serious academic subjects for credit as well as high-octane diversions like The Hottest, the Coldest, the Highest, the Deepest, and the Most“Some of the smartest, most innovative people in the Foreign Places on Earth or MIT’s legendary Mystery Hunt. The sole common denominator is the joy of learning world are on the MIT campus, and they know that something—or many things—just for the thrill. web.mit.edu/iap/ the key to moving an idea from concept to reality is collaborating with their peers in the business school.” Navin Gupta, MBA ’09, Financial Technology Infrastructure Development, Morgan Stanley Mens et Manus MIT’s motto mens et manus (mind and hand) is very much a working credo. Putting ideas into action is the fundamental principle underlying the Institute’s approach to knowledge creation, education, and research. At MIT Sloan, mens et manus manifests itself in a rigorous hands-on curriculum that offers students the chance to build a deep reservoir “MIT Sloan is integrated into the larger university more than any other business school I know. of knowledge and immediately put that What that means for me in the field of energy is the ability to leverage MIT’s vast energy knowledge to work in the world. ecosystem—probably the most valuable on Earth. To be successful in energy, you have to understand business, management, and finance, but also politics, chemistry, and advanced technologies. At MIT Sloan, I can interact with and learn from students, alumni, and faculty from these other disciplines in courses, in action labs, and in the MIT Energy Club [Fernet is co-president]. Collaborating across functions and disciplines is fun—and it’s a skill set that employers value very highly.” Guillaume Fernet, MBA ’11
David Auerbach MBA ’11 and Ani Vallabhaneni, MBA ’11Sanergy: building sustainableurban sanitation“When we conceived of this idea in MIT’s Development Ventures class…we knew that it was going to take a village to succeed. How do you aim to build 6,000 toilets solo? Fortunately, MIT attracts the ideal villagers… out of the MIT woodwork have appeared committed designers and engineers.It takes capital to fly to Kenya, to set upworkshops, and to learn from experts inother parts of the world. At every turn,the MIT Public Service Center, the IDEASCompetition, the IDI, and the LegatumCenter found dollars for us to do that.In the heart of the University of Nairobi, MITestablished a Fab Lab, which ensured thatwe were able to develop 3D renderings ofour design before making costly molds.The support of the MIT E-Center hasbeen incredible in giving us space, coffee,printing…and endless encouragement.And...the MIT100K. It took all of our workin business school—pricing strategies,financial models, conjoint surveys—to puttogether the business plan, yet we doubtedthat venture capitalists and industry leaderswould be swayed that our work has clearfinancial and social impact. They amazed uswith their confidence.Thank you for believing in us on thisincredible journey. Peace, love and sanitation!”Excerpts from the blog “Sanergy:An MIT Love Story.” Read more aboutSanergy including the full blog entry:saner.gy
14 15 It’s a wonderful town MIT is positioned in the center of one of the most exhilarating urban centers in the U.S. Boston is distinguished by its architectural beauty, a setting between the ocean and a winding river, dozens of museums and parks,Community: and a sports fever that grips the town every season of the year.inspiring invention, ingenuity fun Boston is also within easy driving distance of skiable mountains, rolling farmland, and other important urban centers. And you can actually hop a subway train to the“The deciding factor for me was the culture at MIT Sloan. beach. Cambridge, the home of MIT Sloan, only a few minutes’ walk from Boston, has People are famously unpretentious and down-to-earth enumerable riches of its own, including a village vibe, great music, adventurous food, and one of the most diverse and educated here, yet diverse, interesting, and very accomplished.” populations on Earth. Alice Hartley, MBA ’12 No place like it on Earth Everybody says it. The culture of MIT Sloan, and the larger MIT community it’s a part of, is unlike any other institution of higher learning. The division between work and play is almost nonexistent, not because students work all the time, but because they tackle whatever they’re doing with the same characteristic spirit of adventure. Their personal and professional interests often intersect, and they spend their time at MIT Sloan exploring the ideas and challenges they find rewarding. Off-hours are very much on It’s the kind of friendly and inclusive culture MIT Sloan plays like it works—with ingenuity where one student’s infectious enthusiasm and a voracious appetite for connecting with for sailing can generate a fleet of fellow people and finding novel ways to have fun. sailors by week’s end. Thus, the C-function or cultural function. Open to the entire graduate community, including faculty and staff, significant others and families, MIT Sloan C-functions usually celebrate a theme, from edge-pushing Japanese fashion to Brazilian BBQ.
Why MIT Sloan? “Students are amazingly collaborative here. It’s a very warm community. We look out for each other, and I know I’ll have this support system for the rest of my personal and professional life.” Jen Tutak, MBA/MPA ’12“I was surprised to come to a place with so many high achievers and not get any sense of competition. Because of that comfort level, you find yourself wanting to try something new, something completely outside your comfort zone.” Limor Zehavi, LGO ’12 “I never expected to be able to make such an impact on the world.” Tyler Spalding, MBA ’11 “This is very much a bottom-up environment. Students make the experience what they want it to be and have a lot of flexibility to run things, shape things, change things. It’s a community of collaborators.” Shayna Harris, MBA ’11 “There’s such a strong sense of family here, and I feel very much a“The program is international in its student part of the program. I traveled to body and also in its attitude. People in this Israel, Costa Rica, Colombia, Iceland, program—and across MIT—don’t think and Thailand with members of the about borders. We think about where in class on study tours and treks.” the world we should go to find out what Alexis Przybylski, President we need to know, then we go there.” Emeritus, Significant Others Club Darren Nix, MBA ’11 “The culture at MIT Sloan is very welcoming and inclusive. In class, we have the spirit of respect and collaboration. Everyone is invited and stimulated to speak up and build on each other’s ideas.” Luiz Flavio Sampaio, MBA ’11 “It’s probably one of the most diverse programs out there. You don’t feel that any one nationality is represented more than any other—it seems like people just come from the world.” Guillaume Fernet, MBA ’11 Find other student voices on the pages of the MIT Sloan student blog: mitsloanblog.typepad.com/mba2012/
16 17Action learning:developing experience“Our India Lab project was life-changing for us and, potentially, for thousands in the communities of Tamil Nadu.”Jen Tutak, MBA/MPA ’12 The business adventures of a lifetimeRead the MIT Sloan India Lab blog: The rigor of the MIT Sloan MBA experience extends from challenges in theactionlearning.mit.edu/india-lab/Press.html classroom to those facing companies large and small around the world. • Action Labs—student teams travel the world to solve company challenges and humanitarian crises. • Treks—fact-finding expeditions focus on specific careers and geographic regions sponsored by student clubs and industry subgroups. • International Study Tours—as part of the Special Seminar in International Management, students embark on working tours of global business centers. Blogging on tour “More than any other experience at [MIT] Sloan, the study tour has made me • Clean Energy Tour feel proud to be part of such a smart, diverse, and intellectually curious group of mitsloanblog.typepad.com/mit_clean_energy people. The hours we spent in planes, trains, and buses gave us a chance to sit next • Business of Water in Asia to classmates we don’t typically interact with and learn about their backgrounds mitsloanblog.typepad.com/business_of_water in law, real estate, civil engineering, public health, investment banking, and public policy. During every company visit in Asia, our group could always be counted on • European Luxury Industry Study Tour to listen respectfully to company executives [and] ask poignant questions. I found mitsloanblog.typepad.com/european_luxury it fascinating to be able to digest findings from the meeting through the different • Agriculture Innovation in Brazil and India lenses of our classmates.” mitsloanblog.typepad.com/springtrip2010/ Matt Nespoli, MBA ’12 Excerpts from the Business of Water in Asia study tour blog: mitsloanblog.typepad.com/business_of_water
The Action Labs • Entrepreneurship Lab (E-Lab) • Global Entrepreneurship Lab (G-Lab) “The Minority Business Club (MBC) has been a huge part of my action-learning experiences at MIT Sloan. We bring together people from all walks of life and • China Lab cultural backgrounds, then leverage our diversity to learn from each other and • Global Health Delivery Lab (GHD-Lab) collaborate on projects that extend what we’re focusing on in classes and labs. • India Lab When the MBC entered the National Black MBA Case Competition, our challenge was to create a strategy for a current Chrysler initiative—how to market effectively • Leadership Lab (L-Lab) to the African American community. At the finals, we got to pitch our ideas to a • Sustainable Business Lab (S-Lab) panel of Chrysler’s senior executives, which gave us a very real preview of what is necessary to engage and influence the highest echelon of leaders.” Elliot Sedegah, MBA ’11 Clubs: mobilizing the community Clubs at MIT Sloan organize authentic professional experiences for their members—treks to industry centers, for example, and conferences that draw participants from all over the world. Among the dozens of clubs devoted to professional, cultural, and recreational interests are:“It will be exciting to watch Brazil’s rise as a developed nation and gratifying to have • Business in Gaming Club • Sales and Trading Club first-hand perspective on topics that will • Quantitative Finance Club • MIT Sloan Entrepreneurship become part of the global conversation Club on Brazil.” • Marketing Club Saeed Coates, MBA ’12 • Student Entrepreneurs for • Energy and Environment Excerpts from the Business of Education International Development Club in Brazil study tour blog: (SEID) Club mitsloanblog.typepad.com/business_of_ • Management Consulting • Venture Capital and Private education/ Club Equity (VCPE) Club Read more about MIT Sloan student clubs: mitsloan.mit.edu/mba/experience/clubs.php
18 19 The Four Capabilities Framework Developed by MIT Sloan faculty and tested in industry settings, the Four Capabilities Framework (FCF) is a powerful tool forPrincipled leadership: understanding and practicing leadership. The leading-edge model helps students discover their individual leadershipcreating impact in the world credos, drawing upon personal values, skills, experiences, and perspectives to build trust and respect.“MIT Sloan equipped me as a leader to manage across Visioning disciplines, deconstruct a complex problem and analyze its component parts, recognize opportunity— and create opportunity where none exists.” sensemaking leadership signature Relating Heather Tow-Yick, MBA ’07, Founding Executive Director, Teach for America, R.I., member emeritus of the MIT Sloan Student Senate inventing Organizing premier industry events Student clubs are professional engines at MIT Sloan. Members take significant leadership roles within their fields by organizing conferences, symposia, and other major industry events such as: • SWIM Conference (MIT Sloan Women in Management) Sports Analytics Conference The MIT Leadership Center • Marketing Conference shoots to forefront The MIT Leadership Center organizes Organized by the MIT Sloan Entertainment, seminars that include real-time simulations, • Africa Business Conference Media Sports Club, the Sports Analytics up-close and personal sessions with Conference has become one of the industry’s senior executives, practitioner panels and • BioInnovations Conference presentations, skill-building workshops, premier events. The 2011 event included an • Investment Management Conference: A-list roster of sports leaders from Sunil Gulati, and activities that provide opportunities Investing Post Crisis U.S. Soccer Federation president, to Daryl for self-assessment and reflection. Morey, MBA ’00, general manager of the sloanleadership.mit.edu Houston Rockets.
“When I work on a project with engineering students, there’s an expectation that I, as the MBA in the room, will be setting goals and creating implementation strategies. And there’s so much interdisciplinary collaboration happening between MIT Sloan and the rest of MIT, it’s impossible for an MBA student to leave here without having assumed a significant leadership role. Helping launch Candid exchanges the MIT Food and Agriculture Collaborative (MITFAC), for example. Elizabeth with global leaders Greene, MBA ’10, and I hosted a couple of MIT-wide brainstorming sessions Several hundred of the world’s finest leaders about global food production, marketing, and distribution. It was up to us travel to campus every year to talk with MIT to provide the vision and structure that would move the group beyond idea Sloan students about the realities of leadership generation to concrete action. Now, I’m using the distributed leadership model— in the 21st century. As part of the Dean’s part of the Four Capabilities Framework—to help cultivate the next generation Innovative Leader Series, students engage in of MITFAC leaders.” frank discussions with the leaders who are Shayna Harris, MBA ’11 shaping the present and future marketplace, from corporate icons like Ursula Burns, chairman and CEO of Xerox Corporation, to political movers and shakers like José Aznar, former prime minister of Spain, to leaders who have distinguished themselves in the face of impending crises like former U.S. Airways pilot Chesley “Sully” Sullenberger, CEO of Safety Reliability Methods, Inc. Read/listen to/watch past speakers at MIT Sloan: mitleadership.mit.edu/r-lessons.php mitworld.mit.edu/series/view/84 MIT Sloan Innovation Period (SIP) SIP is an MIT Sloan curricular innovation in which students undertake one immersive week of intense leadership study. “Core SIP” provides a common experience for all first-year students and serves as an anchor for ethics and leadership development. Set apart from the rest of the 13-week semester, classes like these provide experiential lessons in leadership and ethics and expose students to leading- edge faculty research: • Obstacles, High Ropes, Leadership, and Teams • 21st-Century Visual Arts Workshop for Business Leaders • Leadership as a Lifestyle: A Holistic Approach to Principled Influence
20 21 Finance Track The MIT Sloan Finance Track is designed for students planning on careers in the finance industry. The Finance Track is built around four foundational courses that delve deep into the theory and practice of finance, dozens of electives in six areas of specialization, and a rich selection Finance: of internships and action-learning experiences, including treks to major banking centers around the world. shaping an industry One of the most popular aspects of the Finance Track is the proseminar, in which student teams tackle research problems that have been posed by leading experts in the financial community. The team’s solution is presented at“I promise my students that what I teach them will a seminar open to the entire MIT community. Students completing the Finance Track earn a Certificate have a long shelf life, not the flavor of the week.” in Finance in addition to their MBA degree. Robert Merton, Nobel Laureate and School of Management Distinguished Professor of Finance Where the pioneers live on The MIT Sloan Finance Group, legendary for the innovations and advances emerging from its ranks, was founded in the late 1960s, long Inventing—and reinventing—finance before many other business schools Many advances in the study and practice of finance— recognized finance as a distinct field even the spreadsheet—have emerged from the of study. The Finance Group has 18 research and inspirations of MIT pioneers, both full-time tenure-track faculty and a faculty and alumni. Just to name a few: research program that spans all the principal areas of the field.• Myron Scholes and Robert Merton (along with Fischer Black) developed what has come to be known as the Black-Scholes Model—a method used to determine the fair price of stock options. Merton and Scholes won the Nobel Prize for their efforts. “Many of the rock stars of finance are here. I am learning from some of the brightest,• MIT Sloan alumnus William A. Porter revolutionized most well-respected, and best-connected names in the industry. I head a real estate digital stock trading with the founding of E*Trade. investment company, but want to pursue a complementary career in investment• Francisco Modigliani, also a Nobel Prize-winner, banking. The way the MBA program is structured, I can follow the Finance Track and contributed to the development of “the life-cycle also take classes at the MIT Center for Real Estate. Having the flexibility to pursue that model,” which helps predict where a country’s combination is one of the main reasons I chose MIT Sloan.” economy might be headed, given its demographic Saeed Coates, MBA ’12 composition.
Taking it to the Street At MIT Sloan, students learn finance during action-learning experiences in banks, boardrooms, and startups around the globe through these and many other vehicles: • Asian Finance Trek • New York Finance Day • Investment Management • MIT Sloan Finance Club Conference • London Finance Day • MIT Sloan Trading Lab • Sales and Trading Club • Quantitative Finance Club“As the world begins to rebuild its financial infrastructure from the ashes of this economic crisis, I believe MIT is primely positioned to play a leadership role in shaping the future through its research and educational programs. What I teach is what I try to implement in industry—and vice versa. Students learn foundational tools and concepts that they will call on again and again—even in the most senior roles and in any sector.” Robert Merton, Nobel Laureate and School of Management Distinguished Professor of Finance Revolution/evolution Five of the founding fathers of modern finance—MIT Sloan professors Stewart Myers, Myron Scholes, Robert Merton, John Cox, and Stephen Ross—sat down together recently for a landmark conversation about the evolution of modern finance. Moderator Andrew Lo (pictured left), the Harris Harris Group Professor of Finance and director of MIT’s Laboratory for Financial Engineering, is a financial trailblazer himself. Watch the video: mitworld.mit.edu/video/878
22 23 Fueling ideas with i-Teams Every semester, entrepreneurial experts from MIT’s Deshpande Center and the MIT Entrepreneurship Center select promising research projects and build a high-performance student team dedicatedInnovation: to each one. The student “i-Teams” evaluate the commercial feasibility of marketplacetapping the entrepreneurial ecosystem innovations and develop go-to-market strategies.“The MIT Sloan entrepreneurial experience has leaped beyond my expectations. I’m learning essential realities about starting a business everywhere I turn here, including the classroom.” Darren Nix, MBA ’11 The Entrepreneurship and Innovation track In the EI track, MBA students build essential entrepreneurial knowledge in classes, proseminars, action labs, and Nexus of the entrepreneurial treks to new-enterprise hotspots around universe the world. The curriculum emphasizes If the 25,800 companies founded by MIT team practice linked to real-world ventures alumni formed an independent nation, and gives students a chance to plug into “The first week of classes, I sent out an email asking if anybody combined revenues would make that MIT’s vast management, technology, and wanted to get together for lunch to talk over startup ideas. nation the 11th-largest economy in the new enterprise resources. They also have I expected 10 students—60 showed up. In fact, I ended up world. Last year alone, MIT Sloan MBAs ample opportunity to tap the School’s meeting a classmate, Jason Traff, MBA ’11, who was working on launched more than 40 enterprises. formidable entrepreneurship network the same idea I was—a new kind of insurance aggregator that and to sit down with venture capitalists, entrepreneurship.mit.edu makes it possible to buy car insurance the way you buy airline industry mentors, and the leaders of entrepreneurship.mit.edu/sites/default/ tickets on Travelocity. Less than a year later, Jason and I are enterprises new and venerable. Students files/files/Entrepreneurial_Impact_The_ about to launch Leaky.com.” earn an EI Certificate in addition to the Role_of_MIT.pdf Darren Nix, MBA ’11 MBA degree.
“As an MBA student, I’ve been able to leverage MIT’s remarkable entrepreneurial ecosystem to grow two new enterprises—Community Water Solutions, a venture I started before coming to MIT Sloan, and OnChip Power, which sprang out of my New Enterprises class. The MIT $100K invites The treks, in particular, have been incredibly eye-opening. I was able to travel to Cambodia you to “Pitch” and “Twitch”and Indonesia to look at microfinancing—then to Asia on the Clean Water Trek to look at The MIT $100K, the oldest and most influentialthe business of water in Singapore, the world’s most sophisticated water system, and business plan competition in the world, hasChina, the world’s largest. In just two and a half years, Community Water Solutions has facilitated the birth of more than 130 companiesbeen able to launch sustainable clean water businesses in 19 villages in Ghana. with captured exit values of $2.5 billion and a market cap of $15+ billion. But like anyMy three cofounders at OnChip Power are electrical engineers and computer scientists. organization dedicated to innovation, the $100KThey took the New Enterprises class specifically to meet up with students from MIT Sloan is continually inventing, introducing new vehicleswho could help them commercialize their new power electronics technology. We started for entrepreneurs like the Elevator Pitch Contest.fundraising in the fall, signed a term sheet by the first of the year, and just closed on our Contestants learn to present their ideas tofirst round of financing—$1.8 million.” potential investors at a moment’s notice—theVanessa Green, MBA ’11 entrepreneur with the most effective 60-second pitch wins $5,000. Even more of a challenge, the MIT $100K Twitch contest invites aspiring entrepreneurs around the world to tweet a sales pitch. The brainstorm with the most retweets wins the prize. “The more collisions of great minds we can create at MIT the better.” Bill Aulet, Managing Director, MIT Entrepreneurship Center
24 25 “I was working as a communications manager in an architecture firm when I decided to change course. I wanted to connect design, sustainability, and management, so I looked at a variety ofSustainability: programs. What tipped the balance toward MIT Sloan? The rigorous quantitative and systems thinking, the flexibility of the curriculum, and thechanging the conversation strong connection to the rest of MIT’s design and sustainability activities. We have a world-class faculty in operations and supply chains, fields that are very relevant to“Framing sustainability as loggers versus sustainability, plus leaders in related disciplines like materials science, industrial ecology, and spotted owls, growth versus green, economy architecture and urban planning. In terms of ‘green’ MBAs, MIT Sloan is where the rubber meets the road.” versus environment…doesn’t work and isn’t Alice Hartley, MBA ’12 right. These things are fundamentally aligned.” MIT Sloan Professor John Sterman, Jay W. Forrester Professor of Management; Director, MIT System Dynamics Group Growing smart leaders and sustainable companies In the Sustainable Business Lab (S-Lab) and other action-learning projects, MBA students develop a deeper understanding of how organizations create sustainable operations and supply chains. They work with faculty and industry experts to design cutting-edge research and management tools that promote best practices. And they bring everything they have learned into companies like General Motors, Intel, and Nike to help them increase the level of sustainability in their operations, products, and services. Explore S-Lab projects at actionlearning.mit.edu/s-lab/ Projects.html.
“I found the global experience I was looking for thanks to the MIT Sloan Social Impact Fellowship, which gives MBA students the chance to solve crucial societal challenges during intensive internships at corporations and humanitarian organizations around the world. My internship was to invent strategies for developing sustainable entrepreneurial ecosystems in target countries within Africa and Latin America. As part of that project, I created environment investing ‘snapshots’ of each country to attract VCs and other investors. This experience, combined with what I’m learning in class about entrepreneurial ventures, branding, and pricing, has given me the tools I need to help build a flourishing entrepreneurial ecosystem throughout my home country of Mexico.” Ignacio De La Garza Evia, MBA ’11 MIT Sloan Sustainability Certificate Students who pursue the MIT Sloan Sustainability Certificate are committed to investigating the alignment among healthy businesses, environments, societies, and an economy that serves human needs. Integrating resources and disciplines across MIT, the curriculum offers sustainability strategies and action-learning opportunities to put knowledge into practice. “A big part of the reason I wanted to go to business school was… Building green to learn about all forms of sustainability—not just environmental. MIT Sloan’s landmark building E62 is the heart of the School, I wanted to learn about economic sustainability and the social sidefostering communication, collaboration, and innovation among that goes along with that. I wanted to learn how you can produce afaculty, students, and alumni. The building is also a living, working profit in a way that doesn’t make anyone’s life more miserable, andsymbol of MIT Sloan’s dedication to sustainability and a model how you can run a business in a manner that improves the quality for building green. The greenest building at MIT, E62 integrates of life for all involved. I found that MIT is a great place to learn all sustainable features like light-sensitive window shades, a green of that.”roof, and an irrigation system that minimizes water use by Christina Ingersoll, MBA ’10, Sustainability Certificate recipientresponding to changes in the weather. Research Assistant, International Food Policy Research InstituteLearn more: mitsloan.mit.edu/buildingthefuture/about-e62.php (IFPRI)
26 27 Bill Gates on OpenCourseWare “MIT’s OpenCourseWare Internet site makes videos, lecture notes, and sometimes even exams from 2,000 undergraduate and graduate courses available to the world, free of charge. These include the world-renownedEngagement: physics courses taught by Professor Walter Lewin, which have been viewed more thansharing ideas across boundaries 5 million times and which I’ve watched repeatedly. OpenCourseWare has become a national model for delivering online education and democratizing learning.”“Organizations are the way that ideas Bill Gates, cochair of the Bill Melinda Gates Foundation and chairman of Microsoft, from change the world.” “Why MIT Matters” by Bill Gates in the Boston Globe Magazine: www.boston.com/news/ education/higher/specials/mit150/Gates/ David C. Schmittlein, John C Head III Dean, Professor of Management MIT Climate CoLab harnesses crowdsourcing In the Climate CoLab project, MIT Sloan Professor Tom Malone and his interdisciplinary colleagues are harnessing a new form of knowledge power—crowdsourcing. Inspired by the success of sites like Wikipedia, the MIT Climate CoLab is focusing the collective intelligence of thousands of people around the world on climate change. Launched by the MIT Center for Collective Intelligence, this international online community is creating, analyzing, and exploring detailed proposals that address climate change. Last fall, the organization held a global competition for proposals that best answer the question: What international climate agreements should the world community make? Find out about the winning idea in Tom Malone’s blog: mitsloanexperts.wordpress. com/2011/02/06/solving-climate-change- with-crowdsourcing.
“This spring I had the opportunity to take part in the Global Health Delivery Lab where we worked with an HIV/AIDS awareness organization in South Africa…. Other teams in our class worked with health organizations in Uganda, Kenya, and India….In the first phase we were MIT MBAs with all the answers, fancy frameworks and PowerPoint® deck who were looking at the problem remotely and approaching it as we would a case write-up. In the second phase we got on the ground and quickly realized the situation wasn’t as cut and dried as we thought…original solution was not going to work. In this phase we had to leverage the skills we learned at MIT Sloan…to redefine the problem and work to find a solution….” Excerpts from the blog of Nicole Zenel, MBA ’11 Read more: mitsloanblog.typepad.com/ nicole/2011/03/MBAs without bordersMIT Sloan students cross boundaries every day to get things done. They bridgedisciplines, industries, cultures, and geographies. They work with faculty to givepeople and organizations the knowledge to conduct business productively andimprove the lives of those they serve. They travel to industry hubs to talk directlywith influential leaders of multinational corporations and to entrepreneurs inremote villages to help struggling businesses succeed. They sit down with thepresident of India to discuss global communications and travel the Earth to analyzehealthcare practices. When they graduate, they have a depth of knowledge about theinternational marketplace informed by a rich portfolio of firsthand experiences.
28 29 “Only MIT could offer LGO, which combines the significant resources of MIT Sloan and the MIT School of Engineering. It’s because of the collaborative culture of MIT that it’s possible for two of the mostCombined degrees exchange programs: influential academic programs in the world to work closely together and provide an academic experience thatexpanding options capitalizes on the strengths of both. As a result, LGO alumni rise quickly after graduation to major positions at companies like Amazon, Apple,“MIT generates so many innovations and has such Boeing, and General Motors.” Don Rosenfield, Senior Lecturer/ tremendous access to the manufacturing world, it makes Director, LGO Program the LGO Program the ideal setting for future leaders of global operations to build essential expertise.” Limor Zehavi, LGO ’12 Leaders for Global Operations (LGO) joint degree • Joint degree: MBA or Master of Science from MIT Sloan and a Master of Science from the MIT School of Engineering in one of seven disciplines • Program length: Two years • Experience: A cross-disciplinary curriculum featuring action- oriented global learning, a strong emphasis on leadership training, and a signature six-month internship with one of the program’s corporate partners “A large part of what drives societal conflict is our failure to manage resources well—water rights, arable land, energy sources…. I’ve seen the results of that firsthand as the head of an infantry mortar platoon in Iraq. During my time at MIT Sloan, I have become committed to clean energy and want to be one of the people who brings it to market, so the dual degree program fits my objectives exactly. My passion and business know-how come from MIT Sloan, while HKS has taught me how to promote strategic policies. It’s an unbeatable combination.” Jon Gensler, MBA/MPA ’11
“The significance of this program cannot be understated, and all 48 of us in LGO feel it. We are from many different points on the compass, but we are all focused on the same issues. People all over the world are worried about losing manufacturing jobs in their communities. That’s what we’re here for—to improve processes and strengthen the industry. LGO offers so many chances for growth as a leader and for immersion in real industry settings, including the six-month internship where you take root in a company and get to understand the way it works. And the strong collaborations between partner companies and LGO open doors so that we are able to tour significant manufacturing plants around the world. I am chiefly interested in an international perspective, so I organized the LGO International Plant Trek to Brazil and Argentina, where, thanks to LGO alumni and partner companies, we were able to visit Embraer, Dell, Flextronics, Caterpillar, GM, and Volkswagen.” Limor Zehavi, LGO ’12 Read more on Limor’s blog “Chronicles of an LGO Girl”: limorzehavi.blogspot.com.“When I learned that I could add a Master MIT Sloan/Harvard Kennedy European dimension of Public Administration from HKS to my MIT Sloan MBA with one extra year of study, School (HKS) dual degree MIT Sloan MBA students may opt to spend one semester abroad at any of three European I decided to go for it. Having these world- • Dual degree: MBA from MIT Sloan and an schools: London Business School, IESE in renowned schools just two subway stops MPA/MPP from Harvard’s Kennedy School Barcelona, and HEC in Paris. Each of these apart is amazing. It’s been very powerful dynamic exchange programs is designed for to combine quantitative and analytical • Program length: Three or four years students who seek an intensive international business skills with an understanding of • Experience: Created for students who experience or who wish to pursue a future how governments work. The environment plan to pursue careers in international career in Europe. is incredibly stimulating, with resources management or economic development from two influential networks.” or who plan to work in industries or Jen Tutak, MBA/MPA ’12 regions with a high degree of government partnership