Applied Management Principles (AMP): Program Rationale
Increasing numbers of scientists and engineers are expressing a heightened interest in the world of business for a variety of reasons. They are: (1) interested in the economic ramifications of their scientific output; (2) intrigued by their attractiveness to, and fit within, industry; and (3) curious if their technical knowledge is best applied in entrepreneurial start-up ventures.
Whatever these individuals' paths—as applied academic researchers, industrial scientists, or neo-Bill Gatesian entrepreneurs—one fact remains constant: Although these newly-minted PhDs are highly adept in their scientific and technical skills, they tend to lack an understanding of business principles—or even its language.
For those who enter industry (where they are increasingly welcomed, due to their typically disciplined and focused approach), such business understanding is usually learned on the job, after the individuals have hired on with their respective firms. But former Dean Harry Morrison, of Purdue's School of Science, and former Dean Dennis Weidenaar, of Purdue's Krannert School of Management, had a better idea. Taking a more proactive approach, Deans Morrison and Weidenaar developed the Applied Management Principles (AMP) program, which allows doctoral students to gain business understanding while they are completing their academic programs of study and research. And now, the program has expanded to include Ph.D. students from other Big Ten / CIC (Committee on Institutional Cooperation) schools and professionals from industry.
The Sloan Foundation provided initial funding for the AMP program. The National Science Foundation provided continued support for AMP under Grant No. 9814127. Any opinions, findings, and conclusions or recommendations expressed in the program are those of the program sponsors, administrators, and faculty and do not necessarily reflect the views of the Sloan Foundation or the National Science Foundation.
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