The world economy—along with virtually every enterprise that participates in that economy—is being transformed by fundamental shifts in the patterns of production, distribution, sales, and service. These shifts pay no attention to national boundaries and are affected only marginally by national policy. They do not respect the old models of organizational structure; they challenge virtually every assumption we hold about the meaning of management. They are driven by technology and they are extraordinarily rapid.

We are entering a new business world. Wealth is increasingly created not by individual firms, but by highly interconnected and complex networks of agents. These networks include a firm, but also include suppliers and an ever-increasing number of partners, financiers, customers, and even—in many cases—governments, which regulate activities.

Today, unless these networks function well—unless they are connected effectively, have incentives aligned, manage the complex regulatory processes, are logistically integrated, etc.—it makes little difference whether one firm or agent within that network is a world-class organization or not. While the distinctions between legal entities remain, those distinctions are no longer nearly as relevant as they once were in figuring out how to align the productive process for optimal creation of wealth.

We in the ITSqc believe we have the obligation to train new cadres of professionals to operate in these new environments. Carnegie Mellon University has a long history as an innovative and creative-thinking institution. Its faculty and students work on timely research and cutting-edge technology in a uniquely interdisciplinary environment. Research at Carnegie Mellon solves cross-discipline real-life problems, resulting in world-changing solutions.

The University has a mission to conduct world-class research and education that has both immediate and lasting impact on business, government, and society at large. In pursuit of that mission, its academic units and research centers analyze the innovation and learning needs of organizations in various sectors of the U.S. and world economies through observation and active dialog with research partners and sponsors. In addition, Carnegie Mellon undertakes a number of academic offerings to meet the needs of professionals entering or already employed in these organizations.