Indian School of Business
|Indian School of Business|
The entrance to ISB's Hyderabad campus
|Motto||"Where Leaders Are Made"|
|Type||Private business school|
|Chairman||Adi Godrej (2011-present)|
|Co-Founders||Rajat Gupta and Anil Kumar|
|49 Permanent Faculty
105 Visiting Faculty 
Mohali, Punjab, India
260 acres (110 ha) (Hyderabad)
70 acres (28 ha) (Mohali)
Indian School of Business (ISB) a private business school in India with campuses at Hyderabad and Mohali is a non profit organization. The school was founded by two senior executives of McKinsey & Company and is governed by a board comprising both Indian and non-Indian businessmen.
ISB has been ranked 33rd in the world in the 2015 Financial Times Global MBA Rankings. ISB is the first business school in indian subcontinent to be accredited by the Association to Advance Collegiate Schools of Business. However, ISB is not accredited by the Indian statutuory body, the All India Council for Technical Education (AICTE). ISB has chosen not to apply for accreditation by AICTE as it offers neither a diploma nor a degree. In 2008, ISB became the youngest institution to find a place in global MBA rankings when it was ranked 20.
- 1 History
- 2 Accreditation
- 3 Campuses
- 4 Courses offered
- 4.1 Post-Graduate Programme in Management (PGP)
- 4.2 Post-Graduate Programme in Management for senior executives (PGPMAX)
- 4.3 ISB Biocon Certificate Programme for Business Analytics
- 4.4 Management Programme for Family Business (MFAB)
- 4.5 Centre for Executive Education (CEE)
- 4.6 Fellow Programme in Management (FPM)
- 4.7 Young Leaders' Programme (YLP)
- 5 Student Clubs
- 6 Centres of Excellence
- 6.1 Centre for Analytical Finance (CAF)
- 6.2 Centre for Emerging Markets Solutions (CEMS)
- 6.3 Centre for Investment
- 6.4 Centre for Leadership, Innovation and Change
- 6.5 Centre for Teaching, Learning and Case Development
- 6.6 Srini Raju Centre For IT and The Networked Economy
- 6.7 Thomas Schmidheiny Chair For Family Business and Wealth Management
- 6.8 Wadhwani Centre for Entrepreneurship Development
- 7 Scholarships
- 8 Events
- 9 ISBInsight
- 10 Rankings
- 11 Controversies
- 12 References
- 13 External links
ISB was started in 1996 by a group of businessmen and academicians. Co-founders Rajat Gupta and Anil Kumar (both McKinsey & Company senior executives) worked together and directed teams of McKinsey consultants to start the school. First, the Executive Board was formed of national and international business leaders: Gupta recruited U.S. leaders while Kumar recruited Indian leaders. Next, ISB established formal partnerships with international business schools: Kumar recruited Wharton and Gupta recruited Kellogg. Finally, Pramath Sinha, then a junior partner at McKinsey in India, was persuaded by Gupta and Kumar to take a leave of absence from McKinsey to be the school's first dean. Rajat Gupta became the school's first chairman and was succeeded by Adi Godrej as chairman in 2011. The State government was pivotal in sanctioning ISB's 260-acre campus in September 1998. The foundation stone for the campus was laid in Hyderabad in 1999 and was inaugurated by Prime Minister Atal Bihari Vajpayee in 2001.
ISB is accredited by the Association to Advance Collegiate Schools of Business. AACSB is a non-profit membership organization that provides a quality certification to its member schools and their programs similar to EQUIS or AMBA. This accreditation does not serve to establish an MBA equivalence for ISB's flagship Post Graduate Program (PGP) in Management.
ISB is not accredited by the All India Council of Technical Education (AICTE), a statutory government body which accredits specific under-graduate and post-graduate programs. ISB has not applied for accreditation by AICTE as it is not a University and it does not offer either a degree or a diploma. Another reason for ISB not being keen on getting AICTE approval is that it wants to retain the flexibility in running its programs and in responding to changing industry needs.
However, because ISB PGP is not recognized as MBA or Post Graduate Degree/Diploma by AICTE unlike the PGDM offered by the IIMs, authorities outside India do not recognize ISB PGP as an equivalent of MBA and hence do not consider the same as Advanced degree. As an illustration, someone who has a four years Bachelor's degree and one year ISB PGP would still be considered a Bachelor's degree holder by US Citizenship and Immigration Services for US Visa and Green Card purposes.
The Indian School of Business (ISB) has two campuses, one in Hyderabad and a new campus in Mohali.
The campus was set up in 2001 and is spread across 260 acres. The heart of the campus is the academic centre, which houses lecture theatres, classrooms, faculty offices, the learning resource centre (LRC) and a 500-seat auditorium.
The campus also houses four Student Villages. Each Student Village can accommodate 130 to 210 students in a mix of four-bedroom and studio serviced apartments.
It is an ISB tradition for each batch to leave behind a souvenir, which adds to the charm of the School. The Class of 2008 Lounge (Gifted by the Class of 2008) and the Class of 2009 Amphitheatre (Gifted by the Class of 2009) are the favourite haunts of the students on campus.
ISB's Mohali campus commenced operations on April 14, 2012. The Mohali campus offers ISB's Post-Graduate Programme and additional short term executive education programs. Sprawling over 70 acres of area, the campus is self sustainable with all the amenities and facilities for the students, faculty and the staff located within a ten-minute walking radius of the campus centre. The entire campus is wi-fi enabled. The academic block houses lecture theatres, faculty offices, faculty lounge, the learning resource centre and the atrium plays host to the 500-seater auditorium besides a coffee shop. In addition, the campus also hosts four other research institutes:
- Max Institute of Healthcare Management
- Bharti Institute of Public Policy
- Munjal Global Manufacturing Institute
- Punj Lloyd Institute of Infrastructure Management
Post-Graduate Programme in Management (PGP)
The Post-Graduate Programme in Management (PGP) is a one-year, full-time residential programme. It is the flagship programme of ISB. Known for the depth and rigour in its pedagogy, ISB has been ranked 33rd by the in their 2015 rankings.
Post-Graduate Programme in Management for senior executives (PGPMAX)
ISB's part-time management programme for senior executives is spread over 15 months. This programme is particularly useful to senior executives who are unable to take a sabbatical from work to attend the full-time programme. The course is equivalent to an Executive MBA programme and is designed on a schedule that minimizes disruption of work and personal pursuits.
ISB Biocon Certificate Programme for Business Analytics
The Indian School of Business has recently launched a one-year certificate program in Business Analytics in collaboration with Biocon. The programme is designed in a manner that minimizes disruption of work and personal pursuits. The program is a combination of classroom and technology aided learning platform. The current batch of 104 students started the course on 14th Sept, 2013 at the Hyderabad campus.
Management Programme for Family Business (MFAB)
MFAB has been specially designed to groom the younger generation of family-owned businesses for leadership.
Centre for Executive Education (CEE)
ISB offers executive education programmes for middle and senior management under three heads:
- Open programmes: Research based short-duration courses focusing on select industry sectors
- General Management programmes: Designed for high performing executives identified for leadership roles
- Custom designed programmes: Catering to specific needs of an organization
ISB is the academic partner for the Goldman Sachs 10,000 Women Entrepreneurs Certificate programme in India which provides management education to "under-served women".
Fellow Programme in Management (FPM)
Fellow Programme in Management (FPM) was introduced in 2011. The course requires a dedicated 4–5 years of full-time study closely working with faculty guides and also pursuing independent research studies. As part of the programme, students go from learning basic disciplines of management, to completing area-specific coursework, publishing individual papers and finally submitting their dissertation. The ISB offers the FPM pragramme in Accounting, Financial Economics, Marketing Operations Management, Organisational Behaviour and Strategy. The ISB offers full fee waivers to all the admitted students and the scholarships are available during the first four years of studies (for a full 12 months) and renewed annually depending upon satisfactory academic standing.
Young Leaders' Programme (YLP)
YLP involves the selection of graduates for mentoring over a period of two years while they work after completing their graduation. These selected individuals are also awarded a scholarship of Rs 100,000 ($2000 approximately) during the course of the programme. These mentored students can join ISB once the mentoring duration of two years is completed successfully. 45 undergraduate students were selected as a part of YLP's first batch in 2011. YLP at Hyderabad includes IBS(Integrated Budgetary [Banking] System),IFS(Integrated Financing System) MIS (Management Information Service Marketing), MCS (Management Control System).
The ISB community runs many professional clubs. The Graduate Student Board (GSB), the elected representatives of the ISB student body, coordinates and manages activities of the clubs. GSB organises conferences, talks by eminent guest speakers, and many other events, at ISB.
The ISB currently has the following professional clubs:
- Business Technology Club
- Consulting Club
- Emerging Markets Club
- Energy Club
- Entrepreneurship & VC Club
- Finance Club
- General Management Club
- Healthcare Club
- Manufacturing & Operations Club
- Marketing Club
- Media Club
- Net Impact Club
- Public Policy Club
- Srei Infrastructure Club
- Senior Executive Club
- Retail Club
- Women in Business Club
Centres of Excellence
ISB aids in connecting industry and academia to advance education, research and outreach in key areas. ISB aims to provide a platform for experts from the industry and academics to exchange knowledge and expertise on academics and trends in the business environment. The centres conduct research in areas critical to emerging economies such as emerging markets finance, affordable housing, innovation, information systems and entrepreneurship development.
Centre for Analytical Finance (CAF)
Established in August 2004, CAF is the newest of the few finance research centre's at an academic institution across Asia. ISB's CAF is aimed at research in all areas of finance, including financial markets, instruments, institutions etc. The research activities of the Centre focuses on issues and problems in emerging economies. CAF researchers at ISB include scholars from Berkeley, Chicago, Cornell, Kellogg and other institutions of global standing. CAF at ISB has also established research partnerships with major international and Indian think tanks leading to collaborative research and joint conferences.
Centre for Emerging Markets Solutions (CEMS)
The Centre for Emerging Markets Solutions (CEMS) was set up with the objective that market-based solutions exist for a large number of the developing world's problems. Though CEMS began its work by focusing on India, the mandate is broader and stretches across emerging markets. CEMS will act as a lab where solutions to developing country problems are developed, which can be then be utilized to other emerging markets.
Centre for Investment
The Centre for Investment aims to refresh investment practice not only in India but around the world. The centre also studies and disseminates knowledge across the dominant investing philosophies underlying passive investing, the endowment model, valuation and shorterterm trading approaches
Centre for Leadership, Innovation and Change
The Centre for Leadership, Innovation, and Change (CLIC) was established in 2008 with a focus on building transformational leaders in alignment with ISB's vision of grooming future leaders for India and the world. CLIC addresses two critical areas of national interest - innovation and leadership. The centre actively contributes to pedagogy through case studies that promote understanding of the innovation process and the associated challenges along with the role of leadership in companies.
Centre for Teaching, Learning and Case Development
The Centre for Teaching Learning and Case Development (CTLC) aims to help develop pedagogical tools which facilitates dissemination of knowledge in accordance with international standards. The Centre's activities are focused around the following four parameters-
(a) Teaching (b) Learning (c) Case Development (d) Curriculum Innovation
Srini Raju Centre For IT and The Networked Economy
SRITNE is an integrated research center aimed at developing rigorous and relevant Information and Communication Technology (ICT)research, with a focus on 'management of ICT' and on the 'enabling-capabilities of ICT for businesses, governments and society. Research in these areas are aimed at leading to a better understanding of how ICT can create value for business and society.
Thomas Schmidheiny Chair For Family Business and Wealth Management
The Thomas Schmidheiny Chair of Family Business and Wealth Management seeks to advance combined knowledge of family business. Family-owned businesses, and the unique challenges and opportunities they represent, are rapidly becoming an important subject of management research. The Chair has contributed significantly to the growing body of research on various aspects of family business, such as family governance and leadership and entrepreneurship among others.
Wadhwani Centre for Entrepreneurship Development
The Wadhwani Centre for Entrepreneurship Development (WCED) at the ISB was established in 2001 with a view to establish entrepreneurship as a transformational vehicle for the broad-based growth of India and other developing economies. The center aims to enable creation and growth of sustainable and competitive enterprises through innovative research, outreach and pilot initiatives.
The Indian School of Business doubled the total outlay of student scholarships to ₹8 crore (US$1.3 million) for students last year. These scholarships are awarded on both merit and financial need basis to students, selected on the basis of academic and professional performance as well as personal qualities such as leadership, integrity, and community service. ISB alumnus bags scholarship worth ₹2.5 crore (US$400,000) – indiatoday.com 
In September 2012, ISB announced 40 diversity scholarships worth ₹ 2.5 crore, a part of ISB's total scholarship outlay worth Rs 8 crore approximately, for the PGP Class of 2014. These merit and need based scholarships will be awarded to professionals from various sectors of healthcare, government, social sector, hospitality, media, fashion as well as functions such as manufacturing, finance, technology, marketing and sales. All the applicants who apply for the one year post graduation programme of the ISB are eligible for the award.
It's 5 Lakh INR Merit based scholarship applicable only for AIESEC alumni.
Alumni Sponsored Scholarships
- PGPMAX Class of 2012 Scholarship - INR 5 Lakhs. Need based. Only those with a family income of less than INR 10 lakhs per annum will be eligible. Applicants from Family Business, Entrepreneurial, Self Employed background are not eligible. Also, those who did their education or worked abroad will also not be considered.
- ISB Alumni Endowment fund - INR 8 - 10 lakhs. Merit based. All those who meet the merit criteria as decided by the Admissions Committee will receive it.
- Class of 2011 Scholarship - INR 4 lakhs. Need and Merit based. Only those with a family income of less INR 10 lakhs per annum will be eligible. Applicants from Family Business, Entrepreneurial, Self Employed background are not eligible. Also, those who did their education or worked abroad will also not be considered
- Novartis - INR 4 Lakhs. Merit and need based.(For women who have completed their schooling from non 'A' class towns only. No interview included as a part of the process).Applicants from Family Business, Entrepreneurial, Self Employed background are not eligible. Also, those who did their education or worked abroad will also not be considered.
- Citi Scholar - INR 7.5 Lakhs. Merit based.
- Societe Generale - Full Tuition. Need based. Only those with a family income of less INR 5 lakhs per annum or Family income + Student's pre-ISB income of < INR 10 Lakhs will only be considered. Applicants from Family Business, Entrepreneurial, Self Employed background are not eligible. Also, those who did their education or worked abroad will also not be considered.
India Global Scholarship - Ten scholarships will be offered to applicants from ten different international geographic areas 
As part of the curriculum and to provide a platform for students, alumni, industry and government, ISB hosts several national and international events throughout the year - from research conferences to application workshops, admission information sessions, speaker series, and more.
Solstice, a socio-business networking event brings together ISB alumni from the corporate world and well-respected faculty across the years under one roof. Solstice provides a platform for Alumni to reconnect with class mates and professors, make new friends and forge lifelong friendships.
Equinox, the annual alumni learning and networking event is an alumni learning event organized on campus and is a perfect balance of learning, and socializing, a signature combination of knowledge and fun. The event brings together alumni from various classes and top shot industry experts for an array of interactive workshops and keynote speaker sessions, fun activities such as drum circles, live performances etc.
ISBInsight is the first of its kind publication from ISB. The publication aims to bring to the reader insightful articles and in-depth interviews with business leaders across verticals. ISBInsight offers a common platform for experts and faculty from different verticals to reach a widespread audience.
|Business – International|
|Financial Times (MBA)||33|
|Business – India|
The school's post graduate management program was ranked #33 in the world in the 2015 Financial Times Global MBA Rankings, dropping 1 place from 2014. In 2008 ISB became the youngest and first Indian business school to break the top 20, but has since dropped to #34. In the QS Global 200 Business Schools Report the school was ranked #7 in the Asia-Pacific region for 2012. In India, it was ranked fifth by the Hindustan Times India's top 50 business schools of 2011 and eighth by the Business Today 50 best business schools of 2012. Earlier, it had been ranked third in the Business India B-school survey in 2011 and fourth in the PaGaLGuY B-school rankings 2011. However, ISB does not officially participate in any domestic ranking till date. Internationally, the only ranking survey that the school participates in is the Financial Times Global MBA Rankings.
ISB co-founders Rajat Gupta and Anil Kumar were involved in the Galleon Group insider trading case. Dean emeritus Mendu Rammohan Rao and board member Ramalinga Raju were involved in the Satyam Scandal. All have since resigned. Ramalinga Raju was arrested by the Central Bureau of Investigation in 2009 and subsequently released on bail in 2011. Anil Kumar was sentenced to probation on July 19, 2012. Rajat Gupta was sentenced to two years in prison on October 24, 2012.
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