International students flock to US university to unlock potential – and ‘invent the future’ – Maura Herson

Maura Herson, Director of the MBA Program at MIT Sloan

From Business Vision

MIT has a worldwide reputation, and international students make up 34-40 percent of the Sloan School of Management’s MBA Programme.

MIT Sloan, based in Boston, values diversity and strives to provide a supportive environment for its global citizens. Its mission is to develop principled and innovative leaders who will improve the world, and enrich the learning experience of all students.

The MBA Programme conducts around 50 “Sloan on the Road” events each year to share admissions information and encourage qualified applicants, and its efforts – combined with MIT’s reputation – continue to pay off.

The US remains a popular destination for international graduate students. In the MBA Class of 2019, 48 percent of international students will be from Asia or the Middle East, 22 percent from South or Central America, 16 percent from Europe, nine percent from Canada and Mexico, three percent from Oceania, and two percent from Africa.

MIT has applications from India, China, Korea, Japan, South-east Asia and Central and South America, all regions where it has active alumni promotion.


Read More »

Defending hospitals against life-threatening cyberattacks – Mohammad S. Jalali

Mohammad Jalali, MIT Sloan Research Scientist

From The Conversation

Like any large company, a modern hospital has hundreds – even thousands – of workers using countless computers, smartphones and other electronic devices that are vulnerable to security breaches, data thefts and ransomware attacks. But hospitals are unlike other companies in two important ways. They keep medical records, which are among the most sensitive data about people. And many hospital electronics help keep patients alive, monitoring vital signs, administering medications, and even breathing and pumping blood for those in the most dire conditions.

A 2013 data breach at the University of Washington Medicine medical group compromised about 90,000 patients’ records and resulted in a US$750,000 fine from federal regulators. In 2015, the UCLA Health system, which includes a number of hospitals, revealed that attackers accessed a part of its network that handled information for 4.5 million patients. Cyberattacks can interrupt medical devices, close emergency rooms and cancel surgeries. The WannaCry attack, for instance, disrupted a third of the UK’s National Health Service organizations, resulting in canceled appointments and operations. These sorts of problems are a growing threat in the health care industry.

Protecting hospitals’ computer networks is crucial to preserving patient privacy – and even life itself. Yet recent research shows that the health care industry lags behind other industries in securing its data.

I’m a systems scientist at MIT Sloan School of Management, interested in understanding complex socio-technical systems such as cybersecurity in health care. A former student, Jessica Kaiser, and I interviewed hospital officials in charge of cybersecurity and industry experts, to identify how hospitals manage cybersecurity issues. We found that despite widespread concern about lack of funding for cybersecurity, two surprising factors more directly determine whether a hospital is well protected against a cyberattack: the number and varied range of electronic devices in use and how employees’ roles line up with cybersecurity efforts. Read More »

Here’s why networking isn’t just about landing your dream job — Hal Gregersen

Hal Gregersen, Executive Director of the MIT Leadership Center

Hal Gregersen, Executive Director of the MIT Leadership Center

From Fortune

At a dinner party a few years ago, Salesforce CRM 2.16% Founder Marc Benioff and Dropbox co-founder Drew Houston got to talking. Their conversation led to a new idea, and that idea led to Salesforce’s Chatter, an enterprise social network, Benioff recalled during an interview I had with him two years ago (for an upcoming book about what causes senior leaders, especially CEOs, to ask the right questions before someone else does it for them).

Their conversation led to a new idea, and that idea led to Salesforce’s Chatter, an enterprise social network. Chatter was not just a result of a chance encounter. At the age of 50, Benioff regularly invites 20- and 30-something year-old entrepreneurs to his house for dinner. It’s in this pursuit of perspectives different than his own that he is able to constantly bring new services and ideas to market. Benioff, who is known to buy smaller firms for people (not products), once told me, “I don’t have all the ideas. That isn’t my job. My job is to build a culture of innovation.”

Our research shows that innovators like Benioff have mastered the art of networking ideas. By purposefully growing their networks to include people from diverse industries and backgrounds, they are quicker to act on observations that spur innovation.

Read More »

It’s time to found a new republic – Daron Acemoglu & Simon Johnson

MIT Sloan Professor Simon Johnson

MIT Professor Daron Acemoglu

From Foreign Policy

Most Americans tend to believe that they’ve lived under the same form of government, more or less, since the country was founded in late 1700s. They’re mistaken.

It’s true that there have been important continuities. The American conception of what government should and should not do is deeply rooted in clear thinking at the start of the republic; the country has long preferred limited government and effective constraints on capricious executive action. But this persistence of core ideas (and the consistent use of the same buildings in Washington, D.C.) obscures the dramatic changes that have taken place within the governing institutions themselves.

In fact, formidable challenges at the end of the 19th century were met by fashioning a transformation so thorough it could effectively be deemed a “Second Republic.” This new republic came with significantly different economic and political rules — and, as a result, enabled the American system to survive and even thrive for another century. Today, faced with serious economic and political dysfunction, we are in need of another round of deep institutional renewal: a Third Republic.

The conditions that brought about the first transformation of American society are strikingly similar to those we see today. At the root of the problems confronting the United States by 1900 was a wave of innovation that sped up growth. The direct benefits of these new technologies accrued to a few, while many others became more uncertain about their economic future.

Read More »

What Blue Apron needs to do to survive the threat of Amazon – Sharmila Chatterjee

MIT Sloan Senior Lecturer Sharmila Chatterjee

MIT Sloan Senior Lecturer Sharmila Chatterjee

From MarketWatch

For a while, it looked as though Blue Apron was destined to become a culinary juggernaut in the American kitchen.

Founded in 2012, the company APRN, +1.89%  carved out a clever business model by mailing perfectly portioned, pre-packaged ingredients and recipe cards to home cooks in need of handholding. It’s not yet profitable, but growth is impressive. Last year, the company had $795.4 million in 2016 by delivering about 8 million meals per month to customers.

Recently, though, there have been challenges. Shares that the company had hoped to sell between $15 and $17 apiece in June were priced at just $10, hurt in part by Amazon’s AMZN, +0.23%   announced acquisition of Whole Foods WFM, -0.02% earlier that month. They now trade for less than $6, pummeled in part by Amazon’s plans to launch its own meal kits.

The twin revelations about Amazon are no doubt unnerving to Blue Apron’s executive leadership team and investors. And yet, they should also see them as encouraging signs. That Amazon sees so much potential in the industry is proof positive that the meal kit represents a new American staple, and not just—pardon the expression—a flash in our collective pots and pans.

True, Amazon is a formidable rival. And yes, the meal kit business is increasingly crowded. (Current contenders include: Plated, HelloFresh, Purple Carrot, and Sun Basket.) But Blue Apron has an opportunity to differentiate itself. To do so, it must focus on the needs, wants, and values of its target audience: mainly millenials.

Read More »