01 Oct 2000
Faculty RetirementsRe: Robert Hayes; Michael Jensen; Alvin Silk; Steven WheelwrightTopics:
Robert H. Hayes
An expert on industrial management and competition, Robert Hayes, the Philip Caldwell
Professor of Business Administration, Emeritus, joined the HBS faculty in 1966. He
has taught numerous courses and thousands of students in both the MBA and the
Executive Education Programs. In addition, he has held important administrative
positions at the School, chairing Exec Ed's Advanced Management Program and its
International Senior Managers' Program, as well as the MBA Program's Production and
Operations Management unit (later renamed Technology and Operations Management). He
has also served as senior associate dean for Faculty Planning and Development and
coordinated the opening of HBS's research office in Hong Kong in 1999.
Hayes has written and published widely. Three of his articles have won McKinsey
Awards for the best articles of the year in the Harvard Business Review. One of them,
"Managing Our Way to Economic Decline," a 1980 piece coauthored with the late William
Abernathy, became a classic for its warnings about the dangers of sacrificing
long-term technological competitiveness in favor of short-term profitability. Hayes
has also coauthored several notable books, including Restoring Our Competitive Edge:
Competing through Manufacturing; The Uneasy Alliance: Managing the
Productivity-Technology Dilemma; Dynamic Manufacturing: Creating the Learning
Organization; and Strategic Operations: Competing through Capabilities. In recent
years, his research has focused on operational competitiveness, technological
development, and the integration of design with manufacturing.
Hayes received his BA from Wesleyan University (1958) before earning an MS (1962) in
statistics and a Ph.D. (1966) in operations research, both from Stanford University.
Michael C. Jensen
Michael Jensen, the Jesse Isidor Straus Professor of Business Administration,
Emeritus, is an authority on organizational theory, organizational strategy, and
finance. He is codirector of The Monitor Company Organizational Strategy Practice.
Jensen is the author of Foundations of Organizational Strategy, among other works,
and his latest book, Theory of the Firm: Governance, Residual Claims, and
Organizational Forms, will be published this year by Harvard University Press. He is
the founding editor of the Journal of Financial Economics as well as the author of
dozens of papers, articles, and commentaries on a wide range of economic, finance,
and business-related topics.
Prior to joining the HBS faculty in 1985, Jensen was a member of the faculty of the
University of Rochester's Simon Graduate School of Business Administration. He also
founded the Managerial Economics Research Center at the University of Rochester in
1977 and served as its director until 1988. From 1992 to 1998, he was a member of the
steering committee of Harvard's Mind/Brain/Behavior Initiative, an interfaculty
effort to study the limitations of the human brain.
Jensen is also chairman of Social Science Electronic Publishing, Inc. (SSEP), an
organization he cofounded in 1994 that publishes scientific research online
(www.ssrn.com). Jensen was named "Scholar of the Year" in 1990 by the Eastern Finance
Association and was also cited as one of that year's "25 Most Fascinating
Businesspeople" by Fortune magazine. Among many honors, he was elected president of
the American Finance Association in 1993 and the Western Economic Association
International in 1994 and admitted to the American Academy of Arts and Sciences in
A graduate of Macalester College (1962), Jensen earned an MBA (1964) in finance and a
Ph.D. (1968) in economics, finance, and accounting from the University of Chicago.
Alvin J. Silk
Alvin Silk, the Lincoln Filene Professor of Business Administration, Emeritus, is an
expert on marketing. His recent research covers the economics of the advertising
industry. Silk's work in this area includes econometric studies of the effects of
scale and scope on advertising agency costs and intermedia competition in the U.S.
national advertising market. He has also studied the changes over time in the
concentration and geographical location of the advertising agency industry. His most
recent work includes papers on "Restructuring in the U.S. Advertising Media Industry"
and "The Emerging Position of the Internet as an Advertising Medium."
Silk joined the HBS faculty in 1989. Previously, he was the Schell Professor of
Management at MIT's Sloan School, where he also served as deputy dean. He is a former
visiting research associate and trustee of the Marketing Science Institute and was a
Ford Foundation Visiting Professor at the European Institute for Advanced Studies in
Management in Brussels. At HBS, Silk served as cochair of the Marketing unit and
taught Brand Marketing, an MBA elective, as well as a doctoral seminar on Research
Design and Measurement.
Silk's earlier work focused on developing models and measurement systems to support
decisions in the area of new product development and marketing communications. He
codeveloped the ASSESSOR pre-test marketing system for evaluating new packaged goods,
and a paper he cowrote on this topic received the 1983 William O'Dell Award for the
most significant article published by the Journal of Marketing Research.
A graduate of the University of Western Ontario (1959), Silk earned his MBA (1960)
and Ph.D. (1968) from Northwestern University.
Carl S. Sloane
Carl Sloane (MBA '60), the Ernest L. Arbuckle Professor of Business Administration,
Emeritus, has a strong interest in the leadership of organizations undergoing
significant change. The cofounder of Temple, Barker & Sloane, Inc., and chairman and
CEO of its successor firm, Mercer Management Consulting, Sloane joined the HBS
faculty in 1991 after a thirty-year career in the field of management consulting.
In the MBA curriculum, Sloane taught Leadership and Organizational Behavior, General
Management, and Human Resource Management. He also taught numerous courses in the
Executive Education Program, including The CEO Transition Workshop, Managing Business
Transformation, Leading Professional Services Firms, and Strategic Human Resource
Management. His research on mid- and late-life transitions in careers and life
structures was instrumental in the development of the Age of Options Executive
A graduate of Harvard College (1958) as well as HBS, Sloane has served as a
consultant to industrial and commercial companies in the areas of corporate strategic
development and organizational effectiveness. He has been an advisor to the White
House and other government and industry groups on issues involving
business-government relations and policy formulation.
In addition to teaching and consulting, Sloane has served as a director of numerous
companies and on the advisory boards to the Center for Science and International
Affairs at Harvard's John F. Kennedy School of Government and Northwestern
University's Transportation Center. He has also been a member of Harvard's Committee
on University Resources, vice chairman of the Beth Israel Deaconess Medical Center in
Boston, and chairman of the Harvard-Radcliffe Hillel Foundation.
Steven C. Wheelwright
After 22 years of service at HBS, Steven Wheelwright, the Edsel Bryant Ford Professor
of Business Administration, has accepted a full-time assignment as president of the
England London Mission of the Church of Jesus Christ of Latter-day Saints.
Wheelwright, who also served as senior associate dean and director of Faculty Hiring
and Planning and senior associate dean and chair of the MBA Program, first taught at
HBS from 1971 to 1979 and was the Thomas Henry CarrollFord Foundation Visiting
Professor from 1985 to 1986. He rejoined the HBS faculty in 1988 and has taught the
required TOM course as well as product development courses in the Executive Education
Program. In the intervening years, he was the Kleiner Perkins Caufield & Byers
Professor of Management at Stanford University Graduate School of Business, where he
received an MBA (1969) and a Ph.D. (1970).
Wheelwright's numerous publications focus on the field of product and process
development and their connection with competitive advantage and operational
excellence and include the highly regarded Leading Product Development, coauthored
with Dean Kim B. Clark, and Dynamic Manufacturing, coauthored with Dean Clark and HBS
professor emeritus Robert H. Hayes.
Wheelwright, who received a BS in mathematics from the University of Utah (1966), has
served on the faculty of INSEAD (The European Institute of Business Administration)
in Fontainebleau, France, and on the boards of directors of Quantum Corporation,
Heartport, Millennium Pharmaceuticals, Inc., O.C. Tanner Company, and Franklin-Covey.