"Without even asking, people have introduced me to their contacts who work in my industry. That’s the kind of community I want to be a part of."
How does it work in practice?
To truly reinforce their developing knowledge, students at MIT Sloan are afforded exceptional opportunities to actively exercise their leadership skills and apply classroom learning by tackling real-world challenges. Our long tradition of merging theory with practice is the competitive advantage upon which MIT was built, and it’s the very foundation upon which it continues to grow. We are the leader among top-tier business schools in Action Learning. In the class of 2012, 75 percent of the students in the MBA program elected to participate in at least one Action Learning Lab courses as part of their customized curriculum.
Mens et Manus
MIT’s guiding principle is its motto, "Mens et Manus," or "Mind and Hand." In addition to fulfilling the MIT philosophy of translating innovation to purpose in the world, hands-on learning synthesizes what you know with what you will need to know to make a more powerful impact in your chosen career.
Action Learning is an integral component of every student’s experience at MIT Sloan. While Action Learning is offered in other business programs, Action Learning at MIT Sloan is a unique process in which students constantly refine their learning through an ongoing, iterative sequence of theory, practice, and reflection. The integration of learning through classroom theory and real-world practice — whether by starting their own business, working with major companies on their latest financial issues, helping entrepreneurs from developing economies structure sustainable businesses, or solving problems that keep even the top executives awake at night — is a part of MIT Sloan’s DNA. “Learning by doing” is how we think about management education.
We offer a broad array of hands-on, experiential learning courses, such as Leading Sustainable Systems Lab (L-Lab), where students tackle the critical issues of global business sustainability, and India Lab (I-Lab), during which students get intensive real-world experience working on a three-month engagement to address organizational challenges within small to midsize businesses in collaboration with Indian executives. Students choose from a variety of projects with companies, NGOs, not-for-profits, and/or government agencies. Lab projects selected by MIT faculty and staff cover a wide spectrum of interests and challenges.
Students further collaborate by working on projects in teams, again mirroring real-world settings. Teams may include members from other disciplines across campus, from other universities, or even from other countries. Problems and opportunities cross borders, as do the customized paths of study at MIT Sloan.
Develop and Implement the Plan
All experiential learning courses begin with traditional classroom work: learning strategy, doing casework, and hearing lectures from faculty and other prominent organization leaders invited from outside MIT Sloan. Some Action Learning courses are simulation-based activities where faculty use technology to replicate business challenges, allowing students to test their knowledge and then assess the assumptions underlying their decisions. Other courses allow students to apply their knowledge in developing a strategic plan with and for an external host company. The project-based courses culminate with on-site time at the host organization to present that plan. MIT Sloan's academic schedule is set up to facilitate the time necessary for off-campus experiences.
Different labs are organized by the types of projects involved and by the locations of the host organizations. For example, one of the most popular labs, Global Entrepreneurship Lab (G-Lab), concentrates on entrepreneurs in developing economies. By contrast, students in Entrepreneurship Lab (E-Lab) usually work with New England- area entrepreneurs, bringing new technology-based products to market. Leading Sustainable Systems Lab (L-Lab) works with organizations to integrate sustainability as organizational change, whereas Sustainable Business Lab (S-Lab) tackles specific sustainability projects. The following pages describe more characteristics of existing Lab courses.
MIT Sloan Trading Lab
For finance students, MIT Sloan’s state-of-the-art Trading Lab is identical in every detail to the best trading rooms in financial capitals around the world. It provides MIT Sloan students with hands-on experience in the complex realm of trading and finance. While accurately reflecting today’s financial markets, the MIT Sloan Trading Lab also plays a central role in shaping innovations in the practice of finance, often in collaboration with other disciplines.
Student Initiative: Clubs, Conferences, Competitions, Treks, Networks
MIT Sloan offers an array of extracurricular activities that can play a pivotal role in hands-on learning and leadership opportunities.
MIT Sloan students organize conferences on diverse topics, from venture capital to bio-innovations, and from sports analytics to sales. Students at the School also participate in more than 60 student-run clubs.
Student-run contests include the International MBA Sales Competition, the Elevator Pitch Contest, and the MIT Clean Energy Prize Competition. One of the best-known student contests is the MIT $100K Entrepreneurship Competition, where the student with the top business plan wins $100,000 in capital to start up his or her proposed enterprise. Competition participants are also eligible for up to $350,000 in seed money, and up to $600,000 is available for the most outstanding business plans in the energy industry.
With the help of the Career Development Office, students organize treks to areas highly concentrated with organizations of career interest. Recent treks included trips to China, France, Japan, Brazil, Kenya, Silicon Valley, and New York City.
Networking events are hosted by a variety of student groups, and can further expand students’ opportunities for collaboration. TechLink hosts events that span the MIT-Harvard community from freshmen to alumni to industry leaders. Bio Bash brings in scientists and entrepreneurs from around the world each year. The annual MIT Venture Capital Conference, run by the Venture Capital and Private Equity Club, is the largest student-run venture capital conference in the world. This much-anticipated event draws 100 venture capitalists, 100 entrepreneurs, and 100 students together in an unparalleled global “mixer.”