Indian School of Business
| Indian School of Business | |
|---|---|
 The main entrance gate at ISB's Hyderabad campus |
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| Established | 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 (770 in MBA) (10 in Ph.D.[disambiguation needed]) (67 in EMBA) |
| Location | Hyderabad, Andhra Pradesh and Mohali, Punjab, India 17°21′58″N 78°28′34″E / 17.366°N 78.476°ECoordinates: 17°21′58″N 78°28′34″E / 17.366°N 78.476°E |
| Campus | Urban |
| Nickname | ISB |
| Website | ISB.edu |
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The Indian School of Business is a business school in India with campuses in Hyderabad and Mohali. It offers an MBA-equivalent Post Graduate Programme (PGP), an executive MBA-equivalent Post-Graduate Programme in Management for Senior Executives (PGPMAX) and a doctoral-equivalent Fellow Programme in Management (FPM) as well as short-duration and part-time executive education programs for middle and senior management. 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 maintains associations with various foreign institutions. The school's Post Graduate Programme was ranked #34 in the world in the 2013 Financial Times Global MBA Rankings.[2] ISB is accredited by AACSB[3] but not AICTE. ISB has chosen not to apply for accreditation by AICTE as they do not approve one year programmes.
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History and formation [edit]
ISB was started in 1996 by a group of businessmen and academicians.
Co-founders and McKinsey & Company senior executives Rajat Gupta and Anil Kumar 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, the ISB established formal partnerships with international business schools: Kumar recruited Wharton and Gupta recruited Kellogg.[4] Finally, Pramanth 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. The Post Graduate Programme was launched in 2001 with an initial batch of 128 students, followed by the executive education programmes. The school's Hyderabad campus was inaugurated by Prime Minister of India Atal Bihari Vajpayee in 2001.[5] In its first decade, ISB has increased the class size of the Post-Graduate Programme (PGP) in Management from 128 in 2001 to 770 in 2012.[6] In 2009, ISB launched executive education programmes.[7]
Accreditation [edit]
ISB is accredited by the Association to Advance Collegiate Schools of Business.[8] ISB is not accredited by the All India Council of Technical Education (AICTE), a statutory government body which accredits specific graduate and post graduate programs. The Ministry of Human Resource Development (India) announced in April 2010 that ISB was among 201 Indian institutions that were "identified as unapproved institutions which are running courses in violation of regulations of All India Council of Technical Education (AICTE)." In October 2012, the AICTE confirmed that ISB is part of 43 educational institutions in India who are being stopped from undertaking new admissions and their degrees are being considered invalid. As per ISB, it has chosen not to apply for accreditation by AICTE as AICTE does not approve one year programmes.[9] As per AICTE, an MBA requires more than a year to complete, and courses with less than one year duration will therefore be not recognized and will be unauthorized. As per AICTE officials, ""It`s a criminal offence if an institute is admitting students for PGDM courses without the council`s prior approval".[10][11]
Campus [edit]
Hyderabad Campus [edit]
ISB's Hyderabad campus is located in Gachibowli. It was set up in 2001 and is spread across 260 acres.[12]
The Hyderabad campus consists of a central academic building surrounded by four student villages - each one adorned by a minaret, and faculty housing towers.
The school boasts of a rich bio diversity in its campus with 70 species of birds including peacocks and wagtails.
Mohali Campus [edit]
ISB's Mohali campus commenced operations on April 14, 2012. The Mohali campus offers ISB's Post-Graduate Programme and additionally short term executive education programs. The campus, which includes lecture halls, an auditorium, housing and other recreational facilities, is spread over 70 acres.[13][14] It additionally host four other research institutes:[15]
- 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 (PGP) [edit]
This is ISB's flagship one-year MBA equivalent programme ranked 34th by the Financial Times in their 2013 rankings. Beginning in April 2012, this programme is being delivered across Hyderabad and Mohali campus simultaneously with an increased combined class size of 770 students.
Post-Graduate Programme in Management for senior executives (PGPMAX) [edit]
This is ISB's part-time management programme for senior executives. Spread over 15 months, the course is "equivalent" to an Executive MBA programme and is designed on a schedule that minimises disruption of work and personal pursuits.[16]
Management Programme for Family Business (MFAB) [edit]
In December 2012, ISB announced the launch of MFAB, a programme that will cater to the needs of family businesses. It is a 15 month long course that will be conducted at the ISB campuses in Hyderabad and Mohali simultaneously. The programme commences from August 2013 while the admission process is expected to begin from January 2013.[17]
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) last year. As per ISB's Associate Dean, "Spread over four or five years, the programme is fully-funded with every fellow receiving a stipend of Rs 40,000 per month."[20]
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.[21][22]
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.[23][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]
Rankings [edit]
| Institute rankings | |
|---|---|
| Business – International | |
| Financial Times[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 #20 in the world in the 2012 Financial Times Global MBA Rankings.[28] In 2008 ISB became the youngest and first Indian business school to break the top 20 and has been ranked in the top 20 by the Financial Times since. 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.
Events [edit]
iDiya [edit]
iDiya is ISB's national social venture ideas competition that aims to encourage promising social businesses in India. Winners are invited to ISB for a one week boot camp, where industry experts, ISB faculty and select entrepreneurs help them train for possible future challenges. It was conceived in 2009 at the ISB by the Net Impact Club of ISB.[33]
Starting 2013 iDiya also has started a blogging contest ISB iDiya where it encourages bloggers to talk about social issues and propose solution [34]
Propero [edit]
Propero is an initiative by the Wadhwani Centre for Entrepreneurship Development (WCED) and the Centre for Investment (CAI) at ISB which seeks to connect entrepreneurs with venture capitalists, angel investors and bankers. The objective of this initiative is to help entrepreneurs across India to raise equity or debt financing as well as provide investors access to scalable business plans from various sectors. The shortlisted ventures are mentored by ISB before they are presented to the investors/bankers. The inaugural Propero event was held in 2010.[35]
Coffee With Alumni [edit]
This initiative aims at addressing concerns of non-resident Indians and international students who plan to study at ISB through a meeting with an alumnus over a cup of coffee. The sessions are held in the US, UAE, UK, China, Hong Kong, Switzerland, Australia, Canada, Spain, Singapore and the Netherlands.[36]
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.[37] Anil Kumar was sentenced to probation on July 19, 2012.[38] Rajat Gupta was sentenced to two years in prison on October 24, 2012.[39]
References [edit]
- ^ http://www.isb.edu/KnowISB/OutstandingFaculty.Shtml
- ^ http://rankings.ft.com/businessschoolrankings/global-mba-ranking-2013
- ^ http://www.business-standard.com/india/news/isb-becomes-first-b-school-in-south-asia-to-get-aacsb-accreditation/457546/
- ^ http://www.consultingnetwork.co.in/isb-the-mckinsey-way/784/
- ^ Resource management need of the hour: PM, Hindu Business Line, HYDERABAD, Dec. 2
- ^ http://articles.economictimes.indiatimes.com/2011-07-26/news/29816610_1_mohali-campus-isb-manufacturing-and-infrastructure-management
- ^ ISB launches executive education programme, LiveMint & The Wall Street Journal, Aparna Kalra, Thu, Dec 03 2009
- ^ School of Business gets AACSB accreditation, Economic Times, PTI Dec 2, 2011, 08.50pm IST
- ^ ISB not eligible to offer management education, The Times of India, Oct 27, 2012, 04.01AM IST
- ^ One-yr MBA programmes flunk AICTE test, Indian Express, Kirtika Suneja : New Delhi, Fri Dec 24 2010
- ^ PGDM courses not approved by AICTE, Vishwas Kothari, TNN Feb 3, 2011
- ^ Chanda Kochhar on board of ISB, Swati Bharadwaj-Chand, TNN Jan 12, 2010
- ^ http://articles.timesofindia.indiatimes.com/2012-06-20/news/32334989_1_ajit-rangnekar-isb-class-dishan-kamdar
- ^ ISB: India's most global B-school undergoes mitosis at Mohali, Pallavee Dhaundiyal Panthry, Economic Times Bureau Aug 15, 2010
- ^ Wharton business school to expand presence in India, Saumya Bhattacharya, Economic Times Bureau Apr 5, 2011
- ^ "PGPMAX". The Hindu (Chennai, India). 2009-12-07.
- ^ "MFAB". The Financial Express (New Delhi, India). 2012-12-11.
- ^ http://www.isb.edu/cee/AboutCEE.Shtml
- ^ Goldman Sachs, ISB mentor women entrepreneurs, Business Standard, Komal Amit Gera / Chandigarh Aug 28, 2012
- ^ ISB to step up research focus, increase intake of fellows, Hindu Business Line, G. NAGA SRIDHAR, 2012
- ^ ISB launches young leaders' programme, Business Standard, BS Reporter / Chennai/ Hyderabad Jan 06, 2011
- ^ ISB selects 45 students for Young Leaders Programme, MSN News, retrieved November 1, 2012
- ^ [1], Business Standard, Press Trust of India / New Delhi Oct 06, 2011
- ^ [2], Business World, BW Online Bureau, Oct 12, 2011
- ^ http://www.businessworld.in/en/storypage/-/bw/isb-announces-scholarships-to-increase-student-diversity/520685.37480/page/0
- ^ http://www.rediff.com/getahead/slide-show/slide-show-1-career-iycu-isb-announces-40-scholarships/20120906.htm
- ^ [3], Education Times, Diptiman Dewan, Oct 12, 2011
- ^ a b "Global MBA Rankings 2012". Financial Times. 2012. Retrieved 11 February 2012.
- ^ a b "QS World University Rankings". QS Quacquarelli Symonds Limited. 2011. Retrieved February 12, 2012.
- ^ "The 50 best business schools". Business Today. 28 October 2012. Retrieved 28 October 2012.
- ^ "India's top 50 business schools" (jpg). Hindustan Times. 30 August 2011. Retrieved 26 December 2011.
- ^ http://books.google.co.in/books?id=rp7s46Y_x7gC&pg=PA177&lpg=PA177&dq=%22ISB%22+%2B+%22official%22+%2B+%22ranking%22+%2B+%22participate%22&source=bl&ots=pfQ6Go-hWw&sig=kkcgpwcxGY5Kk5WoYaTmxsNN_kg&hl=en#v=onepage&q=%22ISB%22%20%2B%20%22official%22%20%2B%20%22ranking%22%20%2B%20%22participate%22&f=false
- ^ http://www.thehindubusinessline.com/industry-and-economy/marketing/article3892434.ece
- ^ http://blogs.isb.edu/idiya/2013/03/19/isb-idiya-launches-blogging-contest/
- ^ ISB to aid entrepreneurs to get funding, The Hindu Business Line, Bureau report, December 1, 2011
- ^ [4], Business Standard, Kalpana Pathak & Vinay Umarji / Mumbai/ Ahmedabad Jul 02, 2011
- ^ "Supreme Court grants bail to Satyam founder Raju". Reuters. 2011-11-04.
- ^ http://dealbook.nytimes.com/2012/07/19/no-jail-time-for-cooperating-witness-in-galleon-case/
- ^ "Ex-Goldman Director to Serve 2 Years in Prison on Insider Trading Case". The New York Times. October 24, 2012.
