This is a thread specifically on rawlings scholarship:
http://talk.collegeconfidential.com/discussion/comment/18354337#Comment_18354337
This is a website about it:
http://www.commitment.cornell.edu/cprs/default.php
All you are missing is somebody specifically applying it to industrial engineering.
The projects listed with faculty mentor in “Operations Research” here would be under the Industrial engineering purview:
http://www.commitment.cornell.edu/cprs/current/2008%20Projects/studentProjects_EN_2008.php
http://www.commitment.cornell.edu/cprs/about/Student%20projects%202010-2011/Student%20Projects%20Engineering%202011.php
http://www.commitment.cornell.edu/cprs/about/Student%20projects%202010-2011/Student%20Projects%202013-2014%20Engineering.php
These may not be exactly the same as what might want to do So the question is, what would you want to do with ? Maybe it would be best to contact some faculty in IE/OR and discuss it with them.
IE is definitely a major that is often used at Cornell as a springboard towards an MBA. Engineers can actually take a minor in the Dyson school now, too. However it seems like this Rawlings thing sets somebody up most ideally towards an eventual research degree. And it’s probably an amazing opportunity for that, that few people get. That doesn’t mean that is all it’s good for. You could probably swing it towards something that would give you expertise with financial quant work, for example, which might get you a good quant job on the Street. Possibly. Not that I’m guaranteeing that. There are definitely possibilties there. But it will be up to you to make something of those possibilities.
If your question is what is industrial engineering et al I refer you to many prior posts by CC poster redbeard. eg:
http://talk.collegeconfidential.com/discussion/comment/6381625#Comment_6381625
http://talk.collegeconfidential.com/discussion/comment/6278237#Comment_6278237
http://talk.collegeconfidential.com/discussion/comment/6178728#Comment_6178728
http://talk.collegeconfidential.com/discussion/comment/6138777#Comment_6138777
also wikipedia