Designing and Delivering a Better Management Science Course for MBA Students Robert Freund MITSloan School of Management November 2007. Preamble. For a variety of reasons (internal and external to OR/MS), OR/MS still must fight survival battles in MBA programs
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Better Management Science Course for MBA Students
MITSloan School of Management
“The final test of any theory is its capacity to solve the problems which originated it.”
-George Dantzig, opening sentence of 1963 book Linear Programming and Extensions
Management science tools and models represent the future of best-practices for tomorrow’s successful companies
“I worked with McKinsey in its Atlanta office during this summer (Jun-Sep-05). I did a project with one of the leading telecom operators in the U.S. The project was about project portfolio optimization, identifying the profitable projects and selecting the one with the highest NPV. Before I joined the project, the consultants had tried several “traditional” problem solving methods to solve this problem. Unfortunately, due to the complexity and abundance of the parameters, the traditional approach did not provide the satisfactory answers, which the company CFO was looking for. I decided to use the optimization methods you taught us in DMD class.… I quickly skimmed through the optimization sections of the book to remember how to use the solver, how to create an objective function and how to add constraints. It took me a couple of days to structure the problem, prepare the objective function and come up with meaningful constraints. I built, ran the model, and prepared the presentation to communicate this complex problem, sophisticated approach and beautiful solution to the client executives.
It was this CFO-level executive meeting at the client site that made me a “hero” this summer at McKinsey. After my presentation, the CFO of the telecom operator was amazed with the answer I provided and immediately offered me a job!! Since this job offer came in front of the other McKinsey partners and senior managers, immediately after the meeting the partner talked to me about his future plans for me at McKinsey and tried to convince me to join McKinsey.” --Emre Gurken
Answer Three Questions:
Student Impacts in short term:
Student Impacts in short term, continued
Student Impacts in longer term (5 years out)