Educating

leaders
for
business
and
society
The number of people living in
market economies has increased
by the billions. People are more
connected than ever before through
technology, trade, and travel.
While connections strengthen,
legal systems, regulations, and
business cultures remain highly
variable. Accelerating technological
development empowers individuals
and enables new forms of flatter,
leaner, and more dispersed
organizations. Innovators can
displace entrenched companies
at any moment. And mega-trends
like climate change, demographic
shifts, and economic inequality affect
every life on the planet.
02 Our mission is to educate leaders for business and society.
Learn to Lead To be effective in a world characterized by increasing
10 complexity and confronted by daunting problems, leaders must
Connect with a elevate their teams and organizations, connect and leverage,
Great University and work across boundaries of function, industry, and region.
16 Yale School of Management positions its people
Extend Your strategically to maximize their academic and professional
Global Reach development.
22 The SOM learning environment itself is a wonderful
Leading Insights balance between support and stretch. The student-faculty
28 ratio is low and the culture focuses on positive-sum actions.
Programs The faculty commitment to teach across functional boundaries
30 is reflected in SOMs famous integrated curriculum, which
Alumni organizes traditional business knowledge into perspectives
that match leadership challenges.
Among top business schools in the world, Yale SOM
is the most connected to our parent university. Our percentage
of joint-degree students is double and triple that of peer
institutions. Our entrepreneurship electives draw students
from Medicine, Forestry & Environmental Studies, Law,
Public Health, Yale College, and throughout the university.
Our faculty include Jackson Institute for Global Affairs
Fellows and scores of other Yale faculty with joint
appointments.
Our school led the development of a network of top
business schools throughout the worldthe Global Network
for Advanced Management. Using both face-to-face Global
Network Weeks and small online courses, Yale SOM engages
systematically with economies throughout the world.
From its origin, Yale SOM has focused on leadership
across all sectors. Now, when it is more than ever the case that
solutions require work across sectors, Yale SOM is optimally
positioned to develop leaders for business and society.
The result of this three-level positioningwithin SOM,
across Yale, and globallyis that Yale SOM connects in a
comprehensive and integrative way. Our students develop
capabilities to build increasingly diverse teams, leverage
frameworks, and lead in a complex global economy. All
in the SOM community can activate connections, develop
extended lines of sight, and use multiple perspectives to
address global problems.

Edward A. Snyder
Indra K. Nooyi Dean and William S. Beinecke
Professor of Economics and Management
Yale School of Management

01
Learn to Lead

Look at issues
from every
angle to see
the big picture.
Find and act
on the best
ideas wherever
they appear.
Theres no simple tool kit for leading in a fast-changing and
highly connected world. Yales integrated approach to business
education draws on multiple academic disciplines and combines
rigorous analysis with an emphasis on understanding the broader
context for organizational decisions. The result is leaders with
elevated vision and an ability to move organizations forward.
Our Approach Individual
to Leadership Develop the skills and knowledge you
need to approach new questions with
analytical rigor. Cultivate the ability to
Join a community of purposeful and
give and receive effective feedback
intellectually curious students, faculty, and and gain self-awareness regarding
alumni. your goals and leadership strengths.

Position yourself to begin your lifes work.

Whatever field or industry you want to
lead in, youll learn to approach complex
challenges and create value for multiple
stakeholders.

Lead with a clear vision of your values and

personal mission.

Team
The Yale SOM approach to building
great teams helps you learn by doing.
Youll go through the process of
forming and managing teams
and seeing what works and what
doesntand then apply those
lessons in the next team setting.

04 Learn to Lead
 Global and
Society
Taking on global challengesthink
climate change, financial stability, and
inequalityrequires thinking and ac-
tion that crosses industries, sectors,
and regions. The leaders who make a
difference will create active connec-
tions, whether with people across the
world or across a negotiating table.

Well prepare
you to lead
on four levels

Organization
At Yale, youll learn to see organiza-
tions as a whole, not as slices defined
by function or geography. This ap-
proach cultivates innovative thinking
and an ability to engage with a wide
range of stakeholders.

Yale School of Management 05

The Integrated Curriculum
At Yale, we teach foundational analytical tools that
will enable you to bring rigor to decision making,
as well as an ability to look up, see the overarching
trends, and find the most valuable ideas and
solutions, wherever they may arise. Our integrated
approach to business education puts a premium on
drawing on different domains of knowledge and
seeking multiple perspectives on a question. This
fosters an ability to see the whole picture when
making leadership decisions, and to avoid the pitfalls
of a blinkered focus on a particular function or
objective. Across programs, we emphasize a rigorous
approach to leadership development and structured
practice and feedback in the art and science of
building high-performing teams.

A Look Inside the MBA Core

The Organizational Perspectives courses at the heart of the
integrated MBA core curriculum reach beyond the boundaries of
any single academic discipline to help you better understand how
real organizations work.

Innovator
Sourcing
and
Disciplines Investor
Managing
Funds
Marketing

Operations State
and Executive
Society
Finance Organizational
Organizational Behavior Perspectives
Environmental Science Courses
Operations
Engine Employee
Economics

Accounting

Politics Competitor Customer

The Global
Psychology Macro-
economy

06 Learn to Lead
The Executive
James Choi Professor of Finance
Lead faculty member for The Executive

In the first year of the MBA

program, the students have
been exposed to all these
different perspectives. The
Executive class, which takes
the view of a CEO, is about
getting practice at integrating those perspectives.
Students are presented with complicated business
situations, and they have to figure out which tools
they need to apply. In many cases, theyll discover
that its not just one disciplinethey need to draw
upon multiple perspectives.

Case Studies (2016)

WPP Hearst Kingdom

James Baron Nathan
of Norway
Organizational Novemsky
Behavior Marketing James Choi
Ravi Dhar George Green Finance
Marketing Former CEO Olav Sorenson
and President, Management
Hearst Magazines
International
Palm Oil
Judith Chevalier
Finance and Trina Trina Solar Case Study
Economics
Solar
Todd Cort Should a Chinese solar panel maker build
Sustainability
a factory in the U.S.?
Northern
Saed Alizamir Assistant Professor of Operations
Endesa Pulp Vineet Kumar Assistant Professor of Marketing

David Bach Heather Tookes

Trina showcases the difficult challenges
Management and
Politics
Finance companies face in deciding whether to focus on
Peter Schott
Jacob Thomas Economics business or consumer markets, and determining
Accounting and
Finance a targeting and launch strategy. Making these
X. Frank Zhang
Accounting
important decisions requires an in-depth and
integrated understanding of the strategic forces
that impact both marketing and operations
strategies.

Yale School of Management 07

Make your choice
Access expertise across disciplines by taking any of more than
100 Yale SOM electives.
Take Behavioral and
Institutional Economics
with Nobel laureate
Robert Shiller.
Take Advanced Competition,
Economics & Policy with
economics professor Fiona
Scott Morton, who was
chief economist in the
antitrust division of the U.S.
Department of Justice.
Take Strategic Management
of Nonprofit Organizations
with Sharon Oster, the
professor who wrote the
book on the subject.
Take A History of Financial
Market Fraud: A Forensic
Approach with Jim Chanos,
the short seller who uncov-
ered the Enron scandal.
08 Learn to Lead
Take Financing Green
Technologies with Richard
Kauffman, New York
States energy czar.
Take Behavioral Strategies
for Selling New Products
in Emerging Markets
with Mushfiq Mobarak,
an economist who has
run extensive field studies
around the world.
Take Strategic Leadership
Across Sectors with
Jeffrey Sonnenfeld, the
head of the schools Chief
Executive Leadership
Institute, who brings in a
cast of visiting CEOs.
Take Mastering Influence
and Persuasion with Zo
Chance, a marketing
professor and behavioral
economics researcher.
Take Consumer Behavior
with Shane Frederick,
a leading researcher
in behavioral economics.
Take Global Financial Crisis
with Professor Andrew
Metrick and former
Treasury Secretary Timothy
Geithner.
Or take courses from
anywhere across Yale
University, ranging from
art history to zoology.
Wide-ranging expertise
Many Yale SOM faculty
work in areas that span
multiple disciplines.
Consumer Behavior
Yale SOMs marketing
faculty and its Center for
Customer Insights bring
together theoretical insights
and practical knowledge
on how customers form
preferences, perceive
brands, and make decisions
about buying. Through the
center, students have
the opportunity to work
with companies to
understand and address
marketing problems.
beginning with the core
Behavioral Finance
Yale is a leading center for
behavioral finance, which
draws upon psychology
in seeking to understand
how and why individuals
make irrational financial
decisions and the impact
of such decisions on the
financial markets. This
broadminded approach
informs many of Yale
SOMs finance courses,
Investor course.
Systemic Risk
During the financial crisis
of 2008, Yale SOMs faculty
provided important insights
to policymakers on the
causes of the crisis and its
historical context. In the
wake of the crisis, the school
created the Yale Program
on Financial Stability, which
coordinates academic
work on understanding
and responding to financial
crises and disseminates
that work to regulators
around the world.
More from our faculty on
page 24.

Heidy Medina 16
Once you get past the first few weeks
of the core, you realize that what
integrated means is that, while this is
an MBA education, you take on many
more perspectives.

While marketing may be your forte, the

integrated curriculum makes sure that
you also understand the financial aspect,
the competition aspect. In The Executive
class, we take every single perspective
we could possibly take on an organization.

To me, this approach grows out of the

schools mission. It takes us a step beyond
the business functions to who is being
impacted, who all the stakeholders are, and
how a business can operate successfully
both for its benefit and for the benefit of
society. You cant really be an effective
leader if youre not accountable for all of
the ramifications of your actions.

Yale School of Management 09

Connect with a Great University

Expand your
range of
knowledge
and team up
with experts
across
disciplines.
The challenges faced by global and ambitious organizations
exceed the abilities of any individual. At Yale SOM, we engage
closely with our home university, leveraging the expertise of the
worlds best scientists and thinkers. That sort of engagement
is how you build powerful organizations and accomplish more
than any individual can alone.
 Howe Street

Connect with
Yale University Park Street

Its a pillar of a Yale SOM education:

the belief that students benefit from access
to all of the other schools and programs at York Street
School of
Architecture
Medical
Yale. This conviction is reflected in the Campus

fact that students can take as many electives Yale Gallery

of British Art
as they choose in other schools and High Street
12
departments at the university. And most School of
Public Health
do: upwards of three-quarters of masters
degree students take electives outside
the School of Management. College Street

Since Edward P. Evans Hall opened in

S Fro nta ge Roa d

January 2014, the school has become a
university-wide hub for engagement, Temple Street

discussion, and activity.

Chapel Street
More than 1,000 Yale students from
outside SOM took SOM courses in
201516. In many cases, those students
were sitting alongside MBA and MAM
peers and working together with them
on group assignments.
DAndre Carr
MBA 16
More than 14% of the most recent MBA
class is pursuing a joint degree, and these Taking coursework outside of SOM exposes
you to different disciplines to expand
dual-focused students bring connections how you contextualize issues and leverage
the integrated experience Yale offers.
across campus with them to Evans Hall. I chose courses to complement my public
policy training with economic development,
healthcare, and security affairs, and
In social settings, through student to explore my interest in the origins of
Diasporic sounds and movement.
organizations, and in class, SOM students
African Studies 5 West African Dance:
connect with their smart, ambitious Traditional and Contemporary
Forestry & Enviromental Studies 2 Origins of
counterparts around the Yale campus. Enviromental Law: Regulation and Evolution
Global Affairs 4 National Security
Decision Making
Public Health 12 Health Politics, Governance,
and Policy; Health Disparities
Music 7 Jazz and Race in America

12 Connect with a Great University

 Yale courses
How four Yale SOM students pursued their
professional and personal interests through
Yale University electives.
10
11 American Studies
School
of Drama
Sterling Ingalis
Harkness Memorial 9 Rink
Yale Tower Library
University Law School Grove Street
Art Gallery Cemetery

t
t re e
Memorial Beinecke pe ct S Science
Chapel Library P ro s Hill
Cross 2
Wall Street

Old Campus 5
Campus School of Forestry &
Council on Environmental Studies
Connecticut Battell Woolsey African Studies
Hall Chapel Hall
8 ue
6 Av e n 1
ouse 4
Religious H il lh
Studies Education Kline Astronomy

Tr u m
Studies Jackson Institute Geology Department
7 for Global Affairs Peabody Laboratory
Museum

b
Music of Natural
3
New Haven Department u ll S History ue
y Av e n
Green Athropology W h it n e
t re e t
Department
Grove Street

of
School ement
Ma n a g

Church Street
Brad ley Stre et
Elm Street

Orange Street

Ophelia Hu Jason Williams Adebayo Alonge

MBA 16 MBA 16 MAM 16

Im in the nonprofit world right now, working I believe that leadership requires an I chose electives to improve my knowledge
in community development, and Id like to understanding of the complexity of our
transition back into education in a strategy rapidly changing world, so a well-rounded
position. I supplemented my business school education at Yale was perfect. I have a
classes with coursework on education, particular interest in public and social
American Indian legal issues, and matters sector issues, which is why courses at
of diversity. Yale Law School and the Jackson Institute
were particularly interesting to me.
American Studies 10 American Indian
Law and Policy Global Affairs 4 Intelligence & U.S. Foreign
Education Studies 6 Foundations in Policy; Successful Global Leadership;
Education Studies; Theory & Practice Inside the White House Situation Room
in American Education Astronomy 1 Introduction to Astronomical
Law 9 Diversity, Inclusion, Equality Observation
Religion 8 Transformational Leadership: Public
Service; Transformational Leadership: Structures
for Success
of entrepreneurship and the use of private
capital, to improve my public speaking skills,
and to understand social behaviors in Africa
and the U.S. I am looking forward to using
what I have learned in deploying capital into
businesses and startups across Africa.
Anthropology 3 Africa, Politics and
Anthropology
Law 9 Internet Law
Music 7 Jazz and Race in America
Theater Studies 11 Classical Rhetoric and
Modern Media

Yale School of Management 13

 Case study
Entrepreneurship
SOM has an abundance of entrepreneurial energy,
management skills, and strategic acumen; other parts
of Yale have an abundance of scientific advancements,
new products, and an equal zeal to innovate and
have a positive impact on the world. The principles
of economics say that trade should occur, and it
doesentrepreneurship has become a strong point of
connection between SOM and other Yale schools.

The schools Program on Entrepreneurship

has spearheaded the development of a
slate of entrepreneurship courses, including
Entrepreneurship and New Ventures and
Management of Software Development,
which attract students with backgrounds in
business, architecture, music, the environment,
and computer science.

Just one of the new ventures to benefit from the

Program on Entrepreneurship is technology
company Saphlux, which has developed a
new LEDlight-emitting diodechip that is
up to 10 times brighter than whats currently
available, with the goal of helping manufacturers
to bring much cheaper LED products to market.
The company was founded by a Yale SOM
student and the chair of Yales Department of
Engineering.

The Yale Entrepreneurial Institute supports

entrepreneurial initiatives across the Yale
campus. One of its flagship programs is a
highly competitive summer fellowship, through
which student entrepreneurs receive training,
mentorship, and financial support. In 2016, four
out of eleven YEI Fellowship Teams included
SOM students.

14 Connect with a Great University

Peter Salovey
President of Yale University
Inaugural Address

Some principles have endured since

our founding in 1701 and will continue
to remain central to this universitys
success: the place of the university in the
discovery, transmission, and preservation
of knowledge; the free and passionate
exchange of ideas between minds young
and old; the exhilaration of sharing new
insights; the study of the past and of
the great and beautiful works that stand
as monuments to human thought and
expression; the opportunity to instill in
students the experience of true learning, of
losing themselves in a book, experiment, or
performance; the power of the individual
teacher or mentor to influence thinking and
transform lives. But, just as the composition
of our faculty and the diversity of our
student body have changed, our approach
to teaching must continue to evolve as well.
Yale must be exemplary, distinctive, and
forward-looking.
Yale School of Management 15
Extend Your Global Reach

Connect with
emerging
regions and
industries
to stay at the
forefront
of business
trends.
The business world is both global and multidirectional, with
growth and innovation coming from dispersed points of
origin. Through our leadership in the Global Network for
Advanced Managementcomposed of 28 top business schools
worldwidewe are connecting more meaningfully with more
regions and preparing students for a truly global future.
Global Network for
Advanced Management
The world has gone from connected to
hyper-connected, and at the Yale School
of Management, we are changing the
model for global engagement by business
schools, leading an evolution from one-to-
one partnerships to a network approach.
The Global Network for Advanced
Management enables us to connect with
top business schools in more than 20
countries, including both developed
nations and emerging economies. GNAM
provides the platform for global academic
programs that engage multiple schools at
once, for students to connect with each
other and build professional networks,
and for faculty from diverse regions and
disciplines to pool their expertise.
Key ideas behind
GNAMs approach
Gains from trade
We all gain when the people with the most
skill and expertise in an area share that
knowledge. Each Global Network school has
unique strengths that can be shared across
the network.
Network effects
The power of a network is related to the
number of activated nodes it includes.
Each school brings in thousands of talented
students, faculty, and alumni.
18 Extend Your Global Reach
Key Programs
Global Network Weeks
Students swap schools for
weeklong courses. Held
twice a year, Global Network
Week gives students dozens
of choicesincluding
learning about the euro
crisis in Spain, exploring
Costa Ricas efforts to build
an ecotourism industry,
traveling to Beijing for a
primer on doing business
in China, and getting an
in-depth understanding of
social enterprise in Cape
Town, South Africa. They
mix with students from
many other Global Network
schools at each location,
gaining perspectives from
Africa, Europe, and Asia.
Global Network Courses
Get a global education, right
in your living room. These
virtual courses leverage
the expertise of a member
schoolfor instance,
The Technion-Israel
Institute of Technology
teaches a course on new
product development
while drawing top students
from across the network.
Teamwork is a key
component of each course,
and in addition to learning
from some of the worlds
best faculty, students get
practical experience in the
kind of time-zone-spanning
work groups that are a
growing feature of todays
great organizations.
Global Network Cases
Big problems span
countries. Take the issue
of deforestation caused by
palm oil plantations. The
farmers may be in Asia, but
the companies using the
product are headquartered
in Europe, the U.S., and
other countries, and the
consumers are everywhere.
Faculty and case writers
from Yale SOM and the
National University of
Singapore collaborated on a
study of how one company,
Golden Agri-Resources,
negotiated sustainable
palm oil standards with
Greenpeace. The case,
which fosters discussion of
environmental concerns,
finance, operations, politics,
and marketing, is taught in
Natural Capital, a Global
Network Course, as well as
elective classes at Yale SOM
and the School of Forestry &
Environmental Studies.
Member Schools
Asian Institute of HEC Paris Indian Institute National University of UCD Michael
Management France of Management Singapore Business Smurfit Graduate
The Philippines Hitotsubashi Bangalore School Business School
EGADE Business University, Graduate India Singapore Ireland
School, Tecnolgico de School of International INSEAD Pontificia Universidad University of Cape
Monterrey Corporate Strategy France, Singapore Catlica de Chile Town Graduate School
Mexico Japan Ko University School of Business of Business
ESMT Berlin Hong Kong University Graduate School Chile South Africa
Germany of Science and of Business Renmin University University of Ghana
FGV Escola de Technology Turkey of China School Business School
Administrao Business School Lagos Business of Business Ghana
de Empresas de China School, Pan-Atlantic China Universitas Indonesia
So Paulo IE Business School University Sauder School of Faculty of Economics
Brazil Spain Nigeria Business, University Indonesia
Fudan University IMD London School of of British Columbia Yale School
School of Management Switzerland Economics and Canada of Management
China INCAE Business Political Science, Seoul National USA
Haas School of School Department of University
Business, University of Costa Rica, Management Business School
California Berkeley Nicaragua United Kingdom South Korea
USA Technion-Israel
Institute of Technology
Israel

Master of Advanced
Management
The Master of Advanced Management program
is one example of how Yale SOM leverages
the Global Network. MAMs come to SOM for one
year of study following completion of their MBAs
at a Global Network school. By taking mostly
electives at SOM and across Yale, they supplement
their MBA education and extend their lines of
sight. They bring with them educational, personal,
and professional experiences that frequently span
continents. Starting with the first day of Orientation,
MAM students learn, explore, and travel alongside
their MBA peers, bringing insights into business
environments around the world and expansive
professional networks.

Yale School of Management 19

A global
microcosm in
Evans Hall
Travel can broaden your horizons and
understanding of the variety of human
experience. But to use those experiences
to improve organizational decision
making, you also need to incorporate
diverse ideas and perspectives in your
own thinking. This is why global is an
everyday concern at Yale SOM. Its woven
into classwork from the first class sessions.
In Evans Hall, youll regularly interact
with fellow students, as well as faculty
and staff, who have lived and worked all
over the world. Speakers and visitors not
only add their own experiences, but also
provide leadership models and lessons
in how to apply multiple perspectives in
real companies.
20 Extend Your Global Reach
Global isnt
just an option
All full-time MBA students engage in a
substantial global experience to fulfill
the Global Studies Requirement. The
options include Global Network Courses;
Global Network Weeks; the International
Experience, a course focusing on the study
of business or society in a particular country
and culminating in a 10-day faculty-led
visit to the country; a global project-based
course, like Global Social Enterprise, in
which students complete a consulting
assignment for a social enterprise in a
country like Brazil; or a semester-long
exchange program.

Dominic Barton
Barton, the global managing director of
McKinsey & Company, visited Yale
SOM to speak as part of the Becton
Fellowship Program.

The metabolic rate has just gone up for everything.

The competition comes out of nowhere; product life
cycles are getting shorter. With the connectedness,
the computing power, the data, you have less time
to react to issues. Were also more linked, if you
will, so a problem in some part of the world quickly
ricochets across the system.

There are implications for how you build your

organization to be able to be agile, to grow and
go after these opportunities but also be resilient.
You have to pick people with different types of
characteristics: open-minded but also tough, who
can deal with volatility but are also ambitious about
what theyre trying to drive, who are very good at
people development, because a global firm has to be
global in its leadership.

Yale School of Management 21

Leading
Insights
Part of the value of attending a great
business school is learning from faculty
who have studied important topics
with depth and rigor. Our connections
to other schools at Yale and to the Global
Network for Advanced Management
extend your access across continents and
fields of study.
Can operations
research help plan
counterterrorism efforts?

Edward
Kaplan
William N. and Marie A. Beach
Professor of Operations Research,
Professor of Public Health &
Professor of Engineering

There are a lot of opportunities for

applying the operations research mindset
to problems that might not be seen as
primarily operational in nature. Ive been
looking at counterterrorism as a queuing
process. A typical problem in queuing is
to figure out how many servers you need
for example, staff in a call centerso you
manage the tradeoff between not having
too many customers waiting and not
having excess idle capacity. When it comes
to terrorism, the customers are the terror
plots. The service time is the time to detect
and interdict a plot. And the servers are
the undercover agents you need.

The minute you start to think of it in

queuing terms, you find models for a lot
of questions which were very difficult to
answer beforehand.

22 Leading Insights
How should global companies
assess cybersecurity risk?

Paul Bracken
Professor of Management &
Professor of Political Science

Multinationals have to look at this

problem operating in 40 or 50 jurisdictions
where the politics and legacy systems and
norms are different. It reminds me a lot of
the expansion of the big accounting firms:
Ernst & Young, Pricewaterhouse, KPMG,
Deloitte, etc. When they went global big
time in the 1990s what they did essentially
was to take their risk management systems,
which were developed over the decades in
the United States, and plop them down
into Italy, into China. And then they
learned the hard way that these didnt How can I find
work, that these systems did a good job
with threats in the United States but didnt
meaning in my work?

Amy
handle different kinds of threats in the
Italian legal system, for example.

I think youre going to see the same thing
happen in the cyber area. And the whole
area of how a multinational does political
assessment and political risk analyses
is critical.
Wrzesniewski
Professor of Organizational Behavior
You dont have to go into nonprofit or
philanthropic work to find meaning in
your work. In fact, research has shown
that regardless of the kinds of work people
pursue, they are likely to see it as primarily
a job, a career, or a calling, in which the
focus of their work is making money,
attaining advancement, or the fulfillment
experienced through work that they feel
makes a contribution to the greater good.
From finance to the arts to medicine, those
who view work more in terms of a calling
enjoy greater satisfaction with their work
and lives overall, regardless of their job.
Further, we find that people introduce
changes to the design of their jobs to add
or drop tasks and relationships that enable
them to find greater meaning in their
workeven when the job is done under
highly controlled conditions that would
seemingly make such moves impossible.

Yale School of Management 23


Can better farming
preserve the rainforest?
A. Mushfiq
Mobarak
Professor of Economics
Im interested in why people in developing
countries do or dont adopt technologies
that we think are welfare improving.
The Brazilian government approached
us to think about how to get farmers to
adopt new techniques that might be less
threatening to the environment.
We started by studying how farmers
reacted to productivity improvements in
the past. There was tremendous growth
in electrification in Brazil over the second
half of the 20th century, and a lot of farms
got electrified. This increased productivity
in crop cultivation a lot more than in cattle
grazing, and farmers switched away from
cattle and into crops. Because cattle grazing
is land intensive, this preserved rainforest.
In this case, increased productivity was
beneficial to the environment. So theres
hope that we can protect the environment
and also address the economic needs of
farmers.
24 Leading Insights
Do we need finance?
William
Goetzmann
Edwin J. Beinecke Professor of
Finance and Management Studies
Finance today has a terrible name. We see
attacks on the world of Wall Street, and
discussion about corrupt financiers
and the great inequality that finance has
brought about. Theres a sense that if
we could just manage to live without it,
wed all be happier.
But history shows that thats not true.
Complex societycivilizationis
something thats been built on complicated
financial tools. If we go all the way back to
the origins of these complex societiesall
the way back to the ancient Near East and
ancient Chinawhat you see is, in order
to live in a society with a lot of people
together in urban society, and in order to
have a world where we can plan so that
everybody has enough to eat, you have to
have financial tools.
I like to think of finance as a time
machineyou cant move yourself
through time but you can move your
money through time. A simple loan is
something that transcends the immediate
world we live in and forces us to imagine
a world in the future.
 Can big data help us decide?

K. Sudhir
James L. Frank 32 Professor of
Private Enterprise and Management
& Professor of Marketing

Today, virtually every aspect of our daily

lives or a firms operations leaves some
kind of a digital trail. Big data technologies
allow us to store and make sense of this
data in real time. The promise of evidence-
based management is real.

For many tactical decisions in marketing,

What does antitrust enforcement automated data-driven decisions are the
mean to business? only choice. When someone searches

Fiona Scott
online, one has only 200 milliseconds to
decide whether and how much to bid for
an ad on the searched keyword. Firms

Morton
with better data and algorithms that
inform their decisions will consistently win
compared to those that shoot from the hip.
Theodore Nierenberg Professor
of Economics For even strategic decisions such as new
products or marketing channels, data-
The amount of competition that a firm
driven decisions are becoming critical.
faces depends in part on the nature of
Experimentation is easier, and traditional
antitrust laws in that jurisdiction. If the
data silos are breaking down, making
antitrust laws are strong and its difficult
more granular, richer data readily available.
to merge with a competitor or push
In this environment, gut-based decision
an entrant out of the market, then you
makers will be at a serious disadvantage
have to earn profit by competing on the
relative to those with an experimentation-
merits, which means offering consumers
and evidence-based mindset.
a really good product at a price they find
competitive.

Theres been a trend in the United States

and over the past 30 to 40 years toward
making antitrust enforcement more
based in economics. Whats going to
give the consumer low prices and good
quality? Other countries, especially
developing countries, have other priorities.
For example, in South Africa, their
competition law aims to bring more black
Africans into the economy. Over time, as
countries get richer, they may start to feel
that theyve achieved some of these other
social goals and phase them out of their
competition enforcement program.
26 Yale School of Management
 Yale School
of Management
Programs
MBA
A two-year program, featuring a distinctive
integrated curriculum, Yale-authored
raw cases, and international study, as well
as close engagement in the intellectual life
of Yale University.
Length of program 2 years
Total students enrolled 696
Degree awarded MBA
MBA for Executives
While continuing to work, students gain
fundamental expertise, with advanced study
in a chosen area at the nexus of business and
society: asset management, healthcare, or
sustainability.
Length of program 22 months
Total students enrolled 131
Degree awarded MBA
Master of Advanced
Management
A one-year program for graduates of business
schools that are members of the Global
Network for Advanced Management. Students
take a slate of advanced elective courses at
Yale SOM and throughout Yale.
Length of program 1 year
Total students enrolled 62
Degree awarded MAM
som.yale.edu/apply
28 Yale School of Management
Masters Degree in
Systemic Risk
A first-of-its-kind, specialized masters degree
for early- and mid-career employees of central
banks and other major regulatory agencies
with a mandate to manage systemic risk.
Length of Program: 1 year
Degree awarded Master of
Management Studies
Joint Degrees
Combine a Yale MBA with a degree from
another Yale graduate program. Options
include law, medicine, engineering, global
affairs, and environmental management,
among others.
Length of program 27 years
Degree awarded MBA plus 1 of 9 choices
PhD
Advanced research and scholarly training in
accounting, financial economics, marketing,
and organizations and management.
Length of program 35 years
Total students enrolled 59
Degree awarded PhD
Executive Programs
Distinctive and customized programs that
help organizations dramatically improve
performance and develop high-caliber leaders.
Length of program 1 day3+ weeks
Total students enrolled 10100
Degree awarded Certificate of Completion
Anjani Jain
Senior Associate Dean for the MBA
Program & Professor in
the Practice of Management

Yale has been a beacon to some of the greatest

minds during the last three centuries. Yales
influence reaches every corner of the globe, and
an education at Yale SOM can give you the
knowledge and vision to make your own mark
in business and society.

David Bach
Senior Associate Dean for the Executive
MBA and Global Programs & Professor in
the Practice of Management

Yale SOM students have a clear sense of

obligation to society, and they view upgrading
their skills as a way for them to have an impact
in an organization and in a community. Theyre
interested in big issues. Theyre interested in
complexity. Theyre interested in challenges.
What do Yale SOM alumni do?
Nonprofit
Ramesh
Consumer Ramanathan 91
Products/Retail Cofounder, Janaagraha.
Healthcare Job history: Citibank
Seth Goldman 95 After a successful
Eric H. Schultz 07
Cofounder and TeaEO banking career,
President & CEO,
Emeritus, Honest Tea; launched a nonprofit
Harvard Pilgrim Health
Executive Chairman, working to improve
Care, Inc. Job history:
Media/Entertainment Beyond Meat. Job the quality of life in
Fallon Community
history: Calvert urban India.
Health Plan; CIGNA Chris Granger 99
Investments
Healthcare President and Chief
Founded a company
Led organizations Operating Officer,
with a Yale SOM
that improved Sacramento Kings.
professor that now
healthcare delivery Job history: National
sells more than $100
while lowering costs. Basketball Association
million of healthy,
After more than a
organic, less-sweet
decade advising
beverages a year.
NBA teams on
their business
operations, took on
the leadership of a
league franchise.

20 YEARS OUT

Private Equity
Lei Zhang 02
Founder, Chairman,
and CEO, Hillhouse
Capital Management
Group. Job history:
New York Stock
Exchange; Emerging Investment Banking
Markets Management
Aisha de Sequeira 95
Grew his China-
Co-Country Head and
based investment
Head of Investment
company from $30
Banking, India, Morgan
million to $18 billion.
Stanley
Technology
Helped build Morgan
Laszlo Bock 99 Stanleys Indian
Author, Work Rules; operation from
Former Senior Vice scratch.
President for People
Operations, Google.
Job history: GE;
McKinsey & Company
Oversaw the hiring
and human resources
functions for the
best company to
work for.

30 Yale School of Management

 Investment Banking
Edward J.
De La Rosa 81
Managing Director,
Stifel, Nicolaus &
Company, Inc. Job
Nonprofit history: De La Rosa Private Equity
Andrea Levere 83 & Co. Ellis Jones 79
President, Corporation Built his company Chairman, Wasserstein
for Enterprise into a leading & Company. Job
Development. Job underwriter and history: Wasserstein
history: National market maker for Perella & Co.; Salomon
Development Council California municipal Brothers, First Boston
Asset Management bonds and taxable
(NDC) A former investment
Andrew Golden 89 Advances policies fixed-income banker who has
President, Princeton and programs to securities, before led Wasserstein &
University Investment help Americans build merging with a Company since its
Company. Job history: assets. top firm. founding.
Duke University
Management
Company; Yale
University Investments
Office
Invests Princetons
$20 billion
endowment.

30 YEARS OUT

Consulting
Matt Rogers 89
Director, San
Francisco, McKinsey &
Company. Job history:
U.S. Department of
Energy; McKinsey
& Company; Booz &
Company
Put his consulting
career on hold to
serve in the federal
government.
Diversified Financial
Services
Ken Ofori-Atta 88
Cofounder, Databank
Financial Services.
Job history: Morgan
Stanley; Salomon
Brothers
Founded Ghanas
leading financial
services provider,
helping to spark the
countrys economic
development.
Private Equity
Tim Collins 82
CEO & Senior
Managing Director,
Ripplewood Holdings,
LLC. Job history: Onex
Corporation; Lazard
Frres & Co.; Booz,
Allen & Hamilton
Founded a private
equity firm that
completed some of
the biggest deals
ever, including a
restructuring of
Japans leading
bank after the Asian
financial crisis.
Consumer Products/
Retail
Indra Nooyi 80
Chairman and Chief
Executive Officer,
PepsiCo. Job history:
Asea Brown Boveri;
Motorola; Boston
Consulting Group
Oversees dozens of
brands totaling more
than $65 billion in
annual revenue.
Leadership
of the School
Edward A. Snyder
Indra K. Nooyi Dean
& William S. Beinecke
Professor of Economics
and Management
Edieal J. Pinker
Deputy Dean & Professor
of Operations Researcht
David Bach
Senior Associate Dean
for the Executive MBA
and Global Programs &
Professor in the Practice
of Management
Joel A. Getz
Senior Associate Dean
for Development and
Alumni Relations
Anjani Jain
Senior Associate Dean
for the MBA Program &
Senior Lecturer
Jeffrey A. Sonnenfeld
Senior Associate Dean
for Leadership Programs
& Lester Crown Professor
in the Practice of
Management
Kyle Jensen
Associate Dean & Shanna
and Eric Bass 05 Director
of Entrepreneurship &
Senior Lecturer
Molly Nagler
Associate Dean for
Executive Programs
Abigail Roth
Special Assistant
to the Dean
32 Yale School of Management
Diane Palmeri Santino Blumetti 99 Frederick Frank 54 B.A.
Chief Administrative Officer Partner & Managing Chairman Evolution Life
& Associate Dean for Principal Rimrock Capital Science Partners
Finance and Administration Management, LLC
Seth A. Goldman 95
Martha Finn Brooks 81 Co-founder and TeaEO
Board of
B.A., 86 Emeritus Honest Tea,
Advisors Former President & COO Executive Chairman
Novelis Inc. Beyond Meat
Honorary Chair
The Honorable William Jane Buchan 86 B.A. Robert R. Gould 81 B.S.
H. Donaldson 53 B.A., CEO Pacific Alternative Vice Chairman & Principal
73 MAH Asset Mgmt. Co. Spinnaker Trust
Chairman Donaldson
Enterprises Jonathan B. Cummings George J. Green 60 B.A.
85 B.A. Consultant Hearst, Former
Chair Senior Partner McKinsey President & CEO Hearst
Timothy C. Collins 82 and Company Magazines International
CEO & Senior Managing
Director Ripplewood Philip N. Davis 85 Gail M. Harrity 82
Holdings LLC Managing Director President & Chief Operating
Accenture Strategy Officer Philadelphia
Members Museum of Art
John H. Augustine 87, Edward J. De La Rosa 81
87 M.Div. Managing Director Stifel, Stephen P. Hickey 83 B.A.
Managing Director Barclays Nicolaus & Company, Inc. Managing Partner & Chief
Capital Investment Officer CVC
Jeremy D. Eden Credit Partners
G. Leonard Baker, Jr. 78 B.A., 86
64 B.A. Co-CEO Harvest Earnings Brad Huang 90
Partner Sutter Hill Ventures Founder & Chairman Lotus
Michael R. Eisenson 81, Capital Management, Ltd.
Eric P. Bass 05 81 J.D.
Principal Velite Benchmark Managing Director, CEO & Ellis B. Jones 79
Capital Management Co-chairman Charlesbank Chairman Wasserstein
Capital Partners & Co.
Frances G. Beinecke
71 B.A., 74 MFS Charles D. Ellis 59 B.A. Jerome P. Kenney 63 B.A.
Former President Natural Former Managing Partner Senior Advisor, Corporate
Resources Defense Council Greenwich Associates Strategy BlackRock, Inc.
Joshua Bekenstein Pamela A. Farr 78 Neal L. Keny-Guyer 82
80 B.A. Management Consultant Chief Executive Officer
Managing Director Bain Mercy Corps
Capital LP Edward C. Forst
Former President & CEO Edward Miner Lamont,
Roland W. Betts 68 B.A. Cushman & Wakefield Jr. 80
Founder & Chairman Chairman Lamont Digital
Chelsea Piers, L.P. Systems, Inc.
Austin Ligon 80 Wilbur L. Ross, Jr. 59 B.A. Frederick O. Terrell 82
Private Venture Investor Chairman & CEO WL Ross Vice Chairman of
Former CEO & Co-Founder & Company, LLC Investment Banking Credit
Carmax Suisse
Martha S. Samuelson
Harley Lippman 76 B.A. Tito Vidaurri 90 M.A., 91
Founder & CEO Genesis10 President & CEO Senior Vice President &
Analysis Group Mexico Country Head EIG
Linda A. Mason 80 Global Energy Partners
Chairman & Founder Bright Jon P. Schotz 77 B.A., 81
Horizons Family Solutions Managing Partner Saybrook Paula J. Volent 97
Fund Advisors, LLC Senior Vice President for
Henry F. McCance 64 B.A. Investments Bowdoin
Chairman Emeritus Jeffrey W. Schroeder 90 College
Greylock Partners Chief Administrative Officer
Goldman, Sachs & Co. Michael J. Warren 90 B.A.
Ruth R. McMullin 79 Managing Principal Albright
Chairperson Eagle-Picher Neil Nanpeng Shen Stonebridge Group
Trust 92 M.A.
Founding & Managing Susan Z. Weil 88
Joseph C. McNay 56 B.A. Partner Sequoia Capital Co-founder Jobtreks and
Chairman, Chief Investment China Weil & Wein
Officer, & Managing
Principal Essex Investment John R. Shrewsberry 92 Daniel H. Weiss 85
Management Senior Executive Vice President Metropolitan
President & Chief Financial Museum of Art
Julien R. Mininberg Officer Wells Fargo &
86 B.A., 90 Company Martin M. Werner 89
Chief Executive Officer M.A., 91 M.Phil., 91 Ph.D.
Helen of Troy L.P. Boon Sim 92 Co-head of Investment
Advisory Senior Director Banking Mexico City
Christina P. Minnis Temasek International Goldman, Sachs & Co.
87 B.A.
Managing Director, Charles L. Slaughter 85 George U. Wyper 84
Consumer Retail and B.A.,90 Founder & Managing
Healthcare Group Goldman, President Living Goods Member Wyper Capital
Sachs & Co. Management
Hugh D. Sullivan 82
Arthur Mizne 95 Vice Chairman, Managing Bob Xiaoping Xu
Founder & Chief Executive Director Morgan Stanley, Founder & Managing
Officer M Square Investment Banking Partner Zhen Fund,
Investimentos Ltda. Division Co-founder Oriental Group

Robert R. Morse 77 B.A. Mary C. Tanner S. Shirley Yeung 93

Executive Chairman Bridge Senior Managing Director Founder & Managing
Investment Group Partners Evolution Life Science Partner Dragonrise Capital
Partners
Sam Oh 99 President, Yale SOM
President & Founder Alumni Association
Mountain Capital Suzanne Francis 80
Management, LLC
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