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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 years later, the Sloan School gathered international leaders in business and management, MIT faculty, students, and alumni to address again the basic principles that should guide business and management. This book presents the papers prepared by student-faculty teams, speeches by business and world leaders, and summaries of the discussions from this special convocation; taken together, they offer a guide to the future of management based on the hallmarks of MIT and Sloan--creativity and innovation.The topics considered coalesced around three main themes. First, and paramount, is the necessity of building and maintaining trust by means of openness, transparency, and accountability; this was addressed in speeches by Kofi Annan and Carly Fiorina and exemplified by the case study presented of Nike?s efforts to rebuild the trust of customers. The increasingly complex conditions of the modern global economy emerged as another recurring theme, as the participants considered the effect of the growing spectrum of stakeholders on issues of corporate governance. The third common theme was the inescapability of technological and scientific change, from the Internet as a marketing tool to the organizational impact of information technology.

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CHOICE Review

This volume is a must read for business faculty and students and persons with a true interest in the broad field of ethical management practices. Produced in honor of the Massachusetts Institute of Technology's Sloan School of Management's 50th anniversary, this work focuses on the importance of ethics on the part of business leaders, organizations, and those institutions that seek to train business leaders of tomorrow. It opens with an analysis of the challenges and opportunities for management education and focuses on three broad themes: (1) management's need to build and maintain trust with organizational stakeholders based on openness, transparency, and accountability; (2) the increasingly complex problems related to broadening sets of stakeholders; and (3) harnessing the numerous advances in science and technology that will transform both organizations and markets. The text offers specific essays by leading practitioners and theorists with supplemental points of dialogue from Sloan's 50th Convocation celebration, which addressed such topics as challenges and responsibilities, globalization, human capital, 21st-century organizations, marketing, and governance. ^BSumming Up: Highly recommended. Lower-division undergraduate through professional collections. W. G. Ellis Concordia University

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Thomas A. Kochan is George Maverick Bunker Professor of Management at the MIT Sloan School of Management and Professor of Engineering Systems at MIT. He is Codirector of both the Institute for Work and Employment Research at the Sloan School and the MIT Workplace Center. He is coauthor (with Paul Osterman, Richard M. Locke, and Michael J. Piore) of Working in America: A Blueprint for the New Labor Market (MIT Press, 2002).