Indian School of Business

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India School of Business
Logo of the Indian School of Business
The entrance to ISB's Hyderabad campus
Established 2001 (2001)
Type Private business school
Chairman Adi Godrej (2011-present)
Dean Ajit Rangnekar
Co-Founders Rajat Gupta and Anil Kumar
Academic staff 49 Permanent Faculty
105 Visiting Faculty [1]
Students 847
Location Hyderabad, Telangana/Mohali, Punjab, India
17°21′58″N 78°28′34″E / 17.366°N 78.476°E / 17.366; 78.476Coordinates: 17°21′58″N 78°28′34″E / 17.366°N 78.476°E / 17.366; 78.476
Campus Urban
Nickname ISB
Website ISB.edu
Indian School of Business logo.png

Indian School of Business (ISB) a private business school in India with campuses at Hyderabad and Mohali is a not-for-profit organization.[citation needed] 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 36th in the world in the 2014 Financial Times Global MBA Rankings.[2] ISB is the first business school in South Asia to be accredited by the Association to Advance Collegiate Schools of Business.[3] However, ISB is not accredited by the Indian statutuory body, the All India Council for Technical Education (AICTE).[4] ISB has chosen not to apply for accreditation by AICTE as it offers neither a diploma nor a degree.[5]

History[edit]

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.[6] 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 Andhra Pradesh 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 of India Atal Bihari Vajpayee in 2001.[7]

Accreditation[edit]

ISB is accredited by the Association to Advance Collegiate Schools of Business.[8] AACSB is a non-profit membership organization that provides a quality certification to its member schools and their programs similar to EQUIS or AMBA.[9] 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),[10] 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.[11][12] 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.[13]

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 Bachelors 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.[14]

Campuses[edit]

The Indian School of Business (ISB) has two campuses, one in Hyderabad and a new campus in Mohali.

Hyderabad Campus

Hyderabad Campus

Spread over 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 was set up in 2001 and is spread across 260 acres.[15]

Mohali Campus

ISB's Mohali 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:[16]

  • Max Institute of Healthcare Management
  • Bharti Institute of Public Policy
  • Munjal Global Manufacturing Institute
  • Punj Lloyd Institute of Infrastructure Management

Courses offered[edit]

Post-Graduate Programme in Management (PGP)[edit]

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 36th by the Financial Times in their 2014 rankings.

Post-Graduate Programme in Management for senior executives (PGPMX)[edit]

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.[17]

ISB Biocon Certificate Programme for Business Analytics[edit]

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)[edit]

MFAB has been specially designed to groom the younger generation of family-owned businesses for leadership.

Centre for Executive Education (CEE)[edit]

ISB offers executive education programmes for middle and senior management under three heads:[18]

  • 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".[19]

Fellow Programme in Management (FPM)[edit]

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)[edit]

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 (Managent Control System),[20][21]

Centres of Excellence[edit]

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)[edit]

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)[edit]

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[edit]

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[edit]

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[edit]

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[edit]

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[edit]

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[edit]

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.

Scholarships[edit]

The Indian School of Business doubled the total outlay of student scholarships to Rs. 8 crore 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.[22][23] ISB alumnus bags scholarship worth Rs 50 k – indtoday.com [24]

Diversity Scholarships[edit]

In September 2012, ISB announced 40 diversity scholarships worth Rs 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.[25][26]

Develop India Scholarship[edit]

Students who aspire to start their own ventures also get support through the 'Develop India' scholarships. These are offered to aspiring entrepreneurs whose ideas are being incubated under the Entrepreneurs Development Initiative (EDI) at the Wadhwani Centre for Entrepreneurship Development (WCED) of the ISB. The scholarships cover students' loan EMIs up to a period of two years.[27]

Events[edit]

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[edit]

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[edit]

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[edit]

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.

Rankings[edit]

Institute rankings
Business – International
Financial Times (MBA)[28] 20
QS (MBA-Asian)[29] 7
Business – India
Business Today[30] 8
Hindustan Times[31] 5

The school's post graduate management program was ranked #34 in the world in the 2013 Financial Times Global MBA Rankings, dropping 14 places from 2012.[28] 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.[29] 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.[32] Internationally, the only ranking survey that the school participates in is the Financial Times Global MBA Rankings.

Controversies[edit]

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.[33] Anil Kumar was sentenced to probation on July 19, 2012.[34] Rajat Gupta was sentenced to two years in prison on October 24, 2012.[35]

References[edit]

  1. ^ Outstanding Faculty | Indian School of Business (ISB). Isb.edu (2013-07-12). Retrieved on 2013-07-18.
  2. ^ Business school rankings from the Financial Times - Global MBA Ranking 2013. Rankings.ft.com. Retrieved on 2013-07-18.
  3. ^ ISB becomes first B-school in South Asia to get AACSB accreditation. Business Standard (2011-12-05). Retrieved on 2013-07-18.
  4. ^ "AICTE does not recognize ISB or its PGP". Deccan Herald, India. 27 October 2012. Retrieved 20 June 2014. 
  5. ^ "ISB has not applied for AICTE accreditation". Indian School of Business. Retrieved 20 June 2014. 
  6. ^ ISB - The Mckinsey Brainchild. Consulting Network (2009-05-15). Retrieved on 2013-07-18.
  7. ^ Resource management need of the hour: PM, Hindu Business Line, HYDERABAD, Dec. 2
  8. ^ School of Business gets AACSB accreditation, Economic Times, PTI Dec 2, 2011, 08.50pm IST
  9. ^ "About AACSB". Association to Advance Collegiate Schools of Business. Retrieved 20 June 2014. 
  10. ^ "ISB on the list of institutes unapproved by AICTE". The Times of India. 9 November 2012. Retrieved 16 May 2014. 
  11. ^ "ISB cannot offer MBA". Indian School of Business. Retrieved 21 June 2014. 
  12. ^ "ISB PGP is not recognized by AICTE". Indian School of Business. Retrieved 21 June 2014. 
  13. ^ "Harassment by AICTE: The saga continues". Livemint.com. Retrieved 21 June 2014. 
  14. ^ "USCIS ruling on petition on ISB PGP equivalence". United States Citizenship and Immigration Services. 4 October 2011. 
  15. ^ Chanda Kochhar on board of ISB, Swati Bharadwaj-Chand, TNN Jan 12, 2010
  16. ^ Wharton business school to expand presence in India, Saumya Bhattacharya, Economic Times Bureau Apr 5, 2011
  17. ^ "PGPMAX". The Hindu (Chennai, India). 2009-12-07. 
  18. ^ Executive Education | Management Development Programs | Indian School of Business (ISB). Isb.edu. Retrieved on 2013-07-18.
  19. ^ Goldman Sachs, ISB mentor women entrepreneurs, Business Standard, Komal Amit Gera / Chandigarh Aug 28, 2012
  20. ^ ISB launches young leaders' programme, Business Standard, BS Reporter / Chennai/ Hyderabad Jan 06, 2011
  21. ^ ISB selects 45 students for Young Leaders Programme, MSN News, retrieved November 1, 2012
  22. ^ [1], Business Standard, Press Trust of India / New Delhi Oct 06, 2011
  23. ^ [2], Business World, BW Online Bureau, Oct 12, 2011
  24. ^ http://www.indtoday.com/isb-alumnus-bags-scholarship-worth-rs-50-k-indtoday-com/
  25. ^ ISB Announces Scholarships To Increase Student Diversity. Businessworld.in (2012-09-06). Retrieved on 2013-07-18.
  26. ^ ISB announces 40 scholarships worth Rs 2.5 crore - Rediff Getahead. Rediff.com (2012-09-06). Retrieved on 2013-07-18.
  27. ^ [3], Education Times, Diptiman Dewan, Oct 12, 2011
  28. ^ a b "Global MBA Rankings 2013". Financial Times. 2013. Retrieved 29 October 2013. 
  29. ^ a b "QS World University Rankings". QS Quacquarelli Symonds Limited. 2011. Retrieved February 12, 2012. 
  30. ^ "The 50 best business schools". Business Today. 28 October 2012. Retrieved 28 October 2012. 
  31. ^ "India's top 50 business schools" (jpg). Hindustan Times. 30 August 2011. Retrieved 26 December 2011. 
  32. ^ An Idea Whose Time Has Come: The Story of the Indian School of Business - Pramath Raj Sinha - Google Books. Books.google.co.in. Retrieved on 2013-07-18.
  33. ^ "Supreme Court grants bail to Satyam founder Raju". Reuters. 2011-11-04. 
  34. ^ Ahmed, Azam. (2012-12-13) No Jail Time for Cooperating Witness in Galleon Case - NYTimes.com. Dealbook.nytimes.com. Retrieved on 2013-07-18.
  35. ^ "Ex-Goldman Director to Serve 2 Years in Prison on Insider Trading Case". The New York Times. October 24, 2012. 

External links[edit]