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- 2,180 people apply for 617 seats in the MBA program
- Incoming MBA class includes 45 students from 22 foreign countries, as well as 10 from Canada
- 3 new courses (Sales Organization and Administration, Creative Marketing Strategy, and Industrial Marketing) are added as part of effort to expand elective offerings
- 435 representatives from 242 companies conduct 4,178 interviews with second-year MBAs, resulting in 242 hires
- AMP holds first session at Baguio in the Philippines
- All alumni begin receiving HBS Bulletin free of charge, to develop a "better understanding of the needs and objectives" of HBS
- Alumni population reaches 21,000, living in U.S. and 74 other countries
- Arthur H. Cole, 26-year head of Baker Library, retires
- Dean Teele writes that a successful manager needs both knowledge and wisdom, and hopes that "this School increases more a man's wisdom"
- Faculty approves a "more demanding" curriculum for the Harvard-Radcliffe Program in Business Administration
- Faculty approves a 3-week prematriculation program for all first-year students who are not native English speakers
- Faculty approves new committee structure consisting of policy committee, program operating boards, and administrative boards
- Faculty considers "the inclusion of statistical and mathematical techniques in our basic curriculum," reflecting OR and other new approaches to problem-solving
- HBR's paid circulation reaches 52,250
- Harry Hansen offers first "Creative Marketing Strategy" field studies
- Income exceeds expenses by $63,501
- John Bishop teaches advanced math seminar to small group of HBS faculty to enhance their quantitative skills
- John McLean resigns from faculty to become an executive (and later CEO) at Conoco
- Paul Lawrence becomes Ad Prac course head (through 1960)
- Paul Lawrence, James Rieser Bright, Ray Corey, Lawrence Evans Thompson, and Abraham Zaleznik are promoted to Associate rank
- Ray Corey publishes The Development of Markets for New Materials, and introduces a 2nd-year course in industrial marketing
- School sets target of having one-third of faculty engaged in case development or project research each year
- The three-day "Advanced Management Seminar in Free China," taught by several HBS professors, is taught in multiple locations in Taiwan
- Tuition increases to $1,000
- Two HBS professors teach 66 Japanese executives in "Advanced Management Seminar in Japan", sponsored by Keio University
- Unused student rooms in Gallatin are converted to office space, providing offices to assistant professors
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