The Industry Evolution Management Flight Simulator (MFS), developed by the System Dynamics group at the MIT Sloan School of Management, is currently used in the MBA Strategic Management curriculum as a complement to more traditional teaching methods (Hsueh, Dogan, & Sterman 2006). The industry evolution MFS portrays a generic firm and industry structure that is then adapted to represent various industries and strategic environments. Hsueh et al. 2006 provides an overview of the generic structure employed and describes two such applications: the salt industry, where players compete and make decisions only on price, to illustrate classic competitive dynamics in concentrated industries, and the video game console industry, where additional feedbacks through network externalities and complementary assets are central to success.
Here, we describe two new applications that were used in the spring 2007 MBA elective “Technology Strategy” at the MIT Sloan School of Management. Both simulators introduce students to new strategic environments and decision making challenges that extend the lessons of the salt and video game simulators. The first extension portrays the premium golf club industry, based on the experience of Callaway Golf during the 1990s. Callaway experienced tremendous growth following the introduction of its innovative “Big Bertha” driver, only to succumb to the typical “boom and bust” pattern as the market saturated. The Callaway simulator challenges students to explore growth and market saturation in the presence of learning curves and strong brand equity effects. Second, we present a MFS of the photovoltaic solar panel industry, based on the case of the SunPower Corporation, a relatively small technology leader in this growing market. Players must decide how aggressively to price and how much to invest in R&D and process technology so as to capture benefits from learning and process improvement, while also recognizing the importance of knowledge spillovers. In addition, the simulator allows students to experience the potential for profit and growth in an industry that is important to issues of energy and global sustainability.
The global financial crisis has undermined trust in financial institutions and reduced faith that market discipline alone can effectively regulate the behavior of firms. As a result, demands for consumer protections have increased and strengthening consumer protection regulation has become a cornerstone of financial regulatory reform. Both the federal and state governments have enacted significant new protections since the crisis. This renewed public and political interest in consumer protections and the heightened interest in reshaping the regulatory landscape provide a timely opportunity to rethink consumer protection regulation in insurance markets.
Diabetes Mellitus (DM) is a group of diseases, all of which are characterized by elevated blood sugar levels. In the United States it is estimated that over 20 million people have one form of diabetes or another1. There are many different forms of the disease, each caused by different factors. Some causes of diabetes are still unknown. Diabetes is concerning because high blood sugar causes damage to many parts of the body, including blood vessels, heart, eyes, kidneys and nerves. This damage can lead to kidney failure, requiring transplant or dialysis, heart attacks, heart failure and stroke.
There are a few key words and concepts helpful in understanding diabetes, the problems, or “complications” occurring with the disease and the potential benefits of various types of treatment. The section below “Definitions and Concepts” should help guide you through the remainder of this resource. We hope this report helps you to understand diabetes better, and helps outline some of the pros and cons of different treatments.
