The MIT Sloan School of Management, as conceived by the legendary General Motors chairman Alfred P. Sloan, was founded in 1952 to draw on the scientific and technical resources of MIT and approach the problems of management with the rigorous research practices for which MIT was famous. Fifty...

In recent years, management gurus have urged businesses to adopt such strategies as just-in-time, lean manufacturing, offshoring, and frequent deliveries to retail outlets. But today, these much-touted strategies may be risky. Global financial turmoil, rising labor costs in developing countries,...

Innovation is the ruling buzzword in business today. Technology companies invest billions in developing new gadgets; business leaders see innovation as the key to a competitive edge; policymakers craft regulations to foster a climate of innovation. And yet businesses report a success rate of only...

Health Economics combines economic concepts with empirical evidence to enhance students’ economic understanding of how health care institutions and markets function. It views the subject in both microeconomic and macroeconomic terms, moving from the individual and firm level to the market...

Explicit collusion is an agreement among competitors to suppress rivalry that relies on interfirm communication and/or transfers. Rivalry between competitors erodes profits; the suppression of rivalry through collusion is one avenue by which firms can enhance profits. Many cartels and bidding...

Design structure matrix (DSM) is a straightforward and flexible modeling technique that can be used for designing, developing, and managing complex systems. DSM offers network modeling tools that represent the elements of a system and their interactions, thereby highlighting the system’s...

While we have been preoccupied with the latest i-gadget from Apple and with Google's ongoing expansion, we may have missed something: the fundamental transformation of whole firms and industries into giant information-processing machines. Today, more than eighty percent of workers collect and...

We live in an “Information Age” of overabundant data and lightning-fast transmission. Yet although information and knowledge represent key factors in most economic decisions, we often forget that data, information, and knowledge are products created and traded within the knowledge economy....

This book introduces students to the growing research field of health economics. Rather than offer details about health systems around the world without providing a theoretical context, Health Economics combines economic concepts with empirical evidence to enhance readers’ economic...

Writing in the New York Times, dateline Cambridge, Mass., March 23, 1977, A.H. Raskin reported as follows: "Never had so many secretaries of labor, Democratic and Republican, been gathered under one roof. The Massachusetts Institute of Technology had invited all the holders of that office since...