London Business School

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London Business School
Established: 1964 (as London Graduate School of Business)
Type: Public business school
Endowment: £75.4m[1]
President: Robin Buchanan
Dean: Sir Andrew Likierman
Students: 2,000
Location: London, England, UK
Coordinates: 51°31′35″N 0°09′39″W / 51.52639°N 0.16083°W / 51.52639; -0.16083
Campus: Urban
Colours:
               
Affiliations: University of London
Website: http://www.london.edu/

London Business School is a leading international business school and a constituent college of the University of London. It is considered to be one of the world’s most highly regarded business schools and its flagship MBA program is frequently ranked among the global top five. Moreover, it has been ranked the best business school in the world by the Financial Times’ Global MBA Rankings 2009[2] – a ranking it shares with The Wharton School of the University of Pennsylvania.

London Business School teaches postgraduate programmes in finance and management, in addition to its MBA flagship program, Sloan Fellowship Program for experienced business executives, Masters in Finance (also known as MiF, a finance specialist programme), Masters in Management for students with less than a year's work experience, PhD, as well as non-masters programmes for business executives. It is located in central London, beside Regent's Park. It was established in 1964, after the Franks Report recommended the establishment of two business schools, as part of existing universities (London Business School and Manchester Business School), but with considerable autonomy.[3] It has close collaborations with the nearby University College London and the Modern Language Centre at King's College London. In December 2006 launched its operations in Dubai, which include an executive MBA degree and Executive Education programmes.

The admissions process at London Business School is highly selective, making it is one of the most competitive business schools in the world. A high GPA, high GMAT score, and strong non-quantitative credentials are typically prerequisites to admission. Successful applicants for the full-time MBA and Masters in Finance have an average GMAT score of 694 and a median score of 700 – the highest among non-US two year programmes.[citation needed]

Around 800 degree students, from 80 countries, graduate from the School each year. A further 3,000-plus executives attend the School executive education programmes each year. The School has over 28,000 alumni in more than 120 countries, organised through 65-plus alumni clubs.[4]

London Business School holds the European Foundation for Management Development Equis accreditation as well as that of the AACSB. The MBA and Sloan Fellowship MSc programmes are accredited through AMBA.

Contents

[edit] MBA programmes

London Business School

The school's flagship is its 15-21 month Master of Business Administration degree. MBA students take a prescribed set of core courses, then choose electives from a choice of 70. The core course includes:

Fees for both the full-time and Executive MBA programmes are approximately £45,000 (not including living expenses). Many students are either sponsored by their employers or take advantage of various scholarship and bank loan schemes.

[edit] Full time MBA

Class size has been around 315 students in every annual cohort, with a total of 630 students on the 15-21 month MBA. These are broken into four streams of around 80 students which undertake all core courses together. From the 2009 intake on, the School announced that a fifth stream will be added and the cohort will increase to 380 students.

The school is proud of the diversity of the student body and the 2008 intake - graduating in 2010 - consisted of 320 students from 60 nations with 25 per cent female and only 9 per cent from the UK (20 per cent from North America).

In addition to the courses shown above, the full-time core courses also include:

  • a compulsory second language (other than English)
  • Information Technology for Business Value
  • Decision and Risk Analysis
  • Understanding the International Macroeconomy

Beyond academic teaching, the school puts an emphasis on personal development, particularly in terms of leadership and global awareness, thanks to specific workshops led by external consultants.

In addition to a wide range of elective courses at the London Business School, the school has a very wide network of around 32 exchange schools around the world. Each academic year around 100 London Business School students spend a term at another leading business school.

[edit] MBA rankings

The full-time MBA is highly placed in rankings of business schools. In the Financial Times ranking of the principal rankings, the London Business School MBA is first in the European rank and first equal in the global rank.[2] In more detail, the MBA has been ranked:

  • Joint 1st in the latest Financial Times Global MBA rankings (2009)[2]. The program shares this ranking with The Wharton School of the University of Pennsylvania.
  • 3rd in the international ranking by The Wall Street Journal (2007)[6]
  • 5th (outside the United States) by BusinessWeek (2008); It is the only MBA programme to have been ranked in the top five in every BW international ranking.[7]
  • 2nd (for two year programs outside the United States) by Forbes (in 2007)[8]
  • 3rd in the latest Best Global MBAs published by CNN Expansion (2008)[9]
  • 9th by the most recent (2008) Economist Intelligence Unit rankings[10]

[edit] International Exchange Programme

The MBA Programme at London Business School has one of the world's largest international exchange programmes. Each year approximately 35 per cent of second-year MBAs spend a term abroad at one of over 30 partner schools, including The Wharton School of the University of Pennsylvania, Sloan School of Management, Massachusetts Institute of Technology, Columbia Business School, Kellogg School of Management, Northwestern University, among others.

[edit] Executive MBA programmes

The School offers four part time Executive MBA degrees, which are completed in between 16 and 20 months. The programmes involve very similar core courses to the full time MBA, international field work and a wide range of elective courses. The course ends with a capstone together with company project or management report.

  • Executive MBA. Around 300 business people take part in the London-based Executive MBA programme. The first year of the programme is taught on alternate Fridays and Saturdays in term-time. A number of week-long blocks are used for leadership skills, career management and international field trips. The second year consists of electives taught in London or at business schools overseas, an optional term or semester on exchange with a business school abroad, and a management report.
  • EMBA-Global Americas and Europe. A further 140 executives are enrolled in the dual-degree EMBA-Global Programme. It is taught in partnership with Columbia Business School, and is designed for fast-track executives able to demonstrate sustained management experience with an international focus. Graduates are awarded degrees from both universities. The first year involves week-long modules each month alternating between London and New York. In the second year, students select from the full range of electives available at the participating schools.
  • EMBA-Global Asia. London Business School launched this programme in 2008 jointly with Hong Kong University and Columbia. Teaching takes place at all three business schools. While the first year is modelled on the transatlantic EMBA-Global, the school states that because "EMBA-Global Asia is designed for people who have or will have significant trans-national responsibilities, all courses reflect a greater proportion of global material".[11]
  • Dubai-London EMBA. This 17-month, dual campus programme began in September 2007. It has a similar structure to the EMBA-Global. The first half of the programme consists of monthly modules of core classes taught at its Dubai Centre, in the Dubai International Financial Centre.[12] The second part of the programme consists of electives taught at London Business School, and a management report.

[edit] Sloan Fellowship

The Sloan Fellowship at London Business School is a master's degree programme designed for executives, professionals and entrepreneurs with significant experience of decision-making at strategic levels.[13]

It is a full time, 11-month master's program emphasising leadership and self-development. The Sloan Fellowship is organised around collaboration principles, and is also offered at MIT Sloan School of Management and the Stanford Graduate School of Business in the USA.

[edit] Masters in Finance

The School offers a "Master's in Finance" ("MiF") programme[14] on both a part and full time basis. This specialist master's degree in finance is a postgraduate qualification for professionals with previous experience in finance. According to the School, the programme trains students seeking careers in such diverse areas as trading, private equity, asset management, investment banking and the finance roles in industries. Around 145 students attend the full-time programme, while 150 attend the part-time degree. The average GMAT score of successful applicants for the full-time master's in finance was 700 in 2007. The MiF core course includes:

  • Principles of Finance
  • Financial Accounting Analysis
  • Corporate Finance and Valuations

Students must take all the core courses and can choose from six up to eight electives. In addition, an independent research project must be completed. The programme's duration is ten months (full time) or 22 months (part time).

[edit] Masters in Management

In September 2009 the school intends to launch an eleven month masters degree in management aimed at students with less than one year of work experience.The programme will provide a strong foundation in all areas of business knowledge as well as providing the practical skills demanded by top graduate recruiters.

The programme is completed as a series of compulsory modules with lectures, workshops, guest speakers, case studies and group and individual project work. The content of the degree resembles the first year of the school's MBA programme.[15]

[edit] Executive education

Around 8,000 executives attend the School's non-degree programmes each year. The School offers a portfolio of 31 Executive Education programmes in general management, strategy, leadership, marketing, human resources and finance. These programmes are split into two main areas, open programmes and custom programmes:

London Business School offer Open Programmes for individuals in General Management, Strategy, Leadership, Marketing, Human Resources and Finance. [16]

Additionally, The Centre for Management Development (CMD) at London Business School designs and delivers Custom Programmes for groups of executives in organisations around the world. The programmes are based on requirements and strategic business objectives to create the correct method of learning. [17]

[edit] Research

The school's 150 faculty work through 16 research centres or institutes.[18] London Business School announced that the research center for women in business is going to close in June 2009, should no corporate sponsor be found. [19]

[edit] PhD programme

London Business School offers a 5-yr based full-time PhD programme. It supports 60 fully-funded PhD candidates in four doctoral programmes: Accounting, Economics, Finance, Management Science & Operations, Marketing, Organisational Behaviour, and Strategic & International Management.[20]

For more information on PhD programmes in Business related areas, please see: PhD in Management.

[edit] Notable staff

  • Elroy Dimson (Finance) was the impetus, with Emeritus Professor Paul Marsh, for the creation of the FTSE100. An authority on equity returns, he is working on a major project on investment management for charitable foundations
  • Rob Goffee (Organisational Behaviour) wrote The Character of the Corporation. His most recent award-winning book is Why Should Anyone Be Led by You?
  • Gary Hamel (Visiting professor) was the originator (with C.K. Prahalad) of the concept of core competencies of organization, and contributed to the theoretical development and evolution of the resource-based view.
  • Lynda Gratton (Organisational Behaviour) is a leading academic on women in business and is the Executive Director of the Lehman Brothers Centre for Women in Business at London Business School. She is ranked number 2 in HR magazine’s ‘Top 100 Most Influential’ thinkers. She was elected a Board Member of the American Human Resources Planning Society
  • Richard Portes (Economics) is an expert on collective action clauses in sovereign bond contracts, on the international role of the euro, on international financial stability and on European bond markets. He is a Fellow of the British Academy and a Fellow of the Econometric Society. He was awarded CBE for services to Economics in 2003.
  • Hélène Rey (Economics) is an expert on global imbalances, exchange rates and international capital flows. She has developed innovative models to forecast the dollar exchange rate. She was awarded the German Bernacer Prize in 2006.
  • Michael Jacobides’ (Strategic and International Management) work on the mortgage banking industry was used by the US Senate looking at the reorganisation of the US Mortgage Banking system
  • Nirmalya Kumar (Marketing) had two books published in 2007. His latest book, Private Label Strategy, is a best seller. He is one of the Marketing field’s most renowned academics, with more than 475 citations[21]
  • Narayan Naik (Finance) is Director of the School's BNP Paribas Hedge Fund Centre. He was awarded Man Investments Best Paper Award on Hedge Funds.

[edit] Notable alumni

  • Sir David Arculus, Chairman of the Board, O2
  • Jean-Christophe Bedos - CEO, Boucheron (France)
  • Sir David Bell – Chairman, Financial Times Group
  • His Excellency Mohammed Belmahi - Ambassador of Morocco (England)
  • Kumar Birla - Chairman, Aditya Birla Group
  • Vice Admiral Paul Boissier - CB Deputy Commander-in-Chief, British Navy Maritime Forces
  • John Bowmer, CEO, Adecco Group
  • David Davis - member of the British House of Commons
  • Sir John Egan – Chairman, Severn Trent plc
  • Tim Faithfull - President and CEO, Shell Canada Ltd
  • Justine Greening - member of the British House of Commons
  • Sir Richard Greenbury - Chairman and Chief Executive, Marks & Spencer
  • Sally Greene OBE - Owner and Director, Old Vic Productions plc
  • HRH Prince Feisal Al-Hussein of Jordan - Special Assistant to Chairman & Joint Chiefs of Staff, Jordanian Armed Forces
  • Richard Hytner - Deputy Chairman Worldwide, Saatchi & Saatchi
  • Huw Jenkins - former CEO, Investment Banking, UBS
  • Dyfrig John - Chief Executive, HSBC Bank plc
  • Julien Callegari - Chairman and Chief Executive (MyMedia, Zamac)
  • Jeffrey Kelisky – CEO, Multimap Ltd
  • Sir Chris Kelly KCB – Chairman, NSPCC
  • Thomas Kwok - Vice Chairman and Managing Director, Sun Hung Kai Properties (Hong Kong)
  • Oliver Letwin - member of the British House of Commons
  • Philip Lowe - Director General, European Commission (Belgium)
  • Nandik Mallik - ICICI Bank
  • Dame Mary Marsh - Chief Executive, NSPCC
  • Ekaterina Mitiaev - Managing Director, The Hunger Project
  • Nigel Morris - Co-founder, Capital One Financial Services
  • Ingemar Naeve - President, Ericsson Espana SA
  • Charles Nasser – CEO, Claranet Ltd
  • Sir Chris O'Donnell - CEO, Smith & Nephew
  • Idan Ofer – Chairman, Israel Corp
  • Cally Palmer CBE - Chief Executive, Royal Marsden NHS Trust
  • Michael Perlman – Chairman, Pancostura Group (Brazil)
  • David Pyott - Chairman and CEO, Allergan Inc
  • Terry Rhodes - Executive Director, Celtel International
  • Bill Rylance - Chairman Asia Pacific, Burson-Marsteller
  • Omar Samra - First Egyptian to climb Mount Everest
  • The Hon Wong Kan Seng - Deputy Prime Minister, Singapore
  • Nisreen Shocair - President of Virgin Megastore (Middle East)
  • Sir John Sunderland – Chairman, Cadbury Schweppes plc
  • Bernard Taylor CBE – Director, Cambridge Laboratories
  • Richard Thomas MBE - Deputy Director, UK Ministry of Defence
  • Tony Wheeler - Founder, Lonely Planet
  • John Jennings - Chairman of the Board, BC Cancer Foundation
  • Mark Chadwick - CEO, Carbon Clear
  • Shirish Apte - CEO, Central and Eastern Europe, Citigroup Inc.
  • Sanjay Mehta - Managing Director and CEO, Essar Shipping & Logistics Limited.

[edit] See also

[edit] References

  1. ^ "Financial Statements" (pdf). London Business School. http://www.london.edu/assets/documents/theschool/Financial_statements_2008.pdf. Retrieved on 2009-06-24. 
  2. ^ a b c "FT Global MBA Rankings". Financial Times. http://rankings.ft.com/businessschoolrankings/global-mba-rankings. Retrieved on 2009-01-25. 
  3. ^ "AIM25: London Business School: Administrative Records". London Business School. http://www.aim25.ac.uk/cgi-bin/search2?coll_id=6338&inst_id=32. Retrieved on 2007-06-16. 
  4. ^ "Alumni, London Business School". London Business School. http://www.london.edu/alumnicommunity.html. Retrieved on 2008-01-11. 
  5. ^ "MSO (Operations and Technology Management): London Business School, Faculty & Research". London Business School. http://www.london.edu/otm.html. Retrieved on 2007-06-16. 
  6. ^ "The Wall Street Journal/Harris Interactive 2007 Business School Survey published in a special section of The Wall Street Journal on September 17, 2007.". http://online.wsj.com/public/resources/documents/MB_07_Scoreboard.pdf. Retrieved on 2008-02-05. 
  7. ^ "Tracking the International Top 10". http://bwnt.businessweek.com/interactive_reports/rankings_history_nonus_08/. Retrieved on 2009-06-24. 
  8. ^ "Top Non-U.S. Two-Year Business Schools". Forbes. http://www.forbes.com/2007/08/15/best-business-schools-lead-careers-cz_kb_07mba_nonus2yr_slide_2.html?thisSpeed=25000. Retrieved on 2009-06-24. 
  9. ^ "Ranking Los Mejores MBA Globales 2008 published by CNN Expansión on July 4, 2008.". http://www.cnnexpansion.com/media/2009/01/26/ranking-mba-globales-2008.pdf. Retrieved on 2008-07-04. 
  10. ^ "Which MBA online 2008 Ranling". http://mba.eiu.com/index.asp?layout=2008rankings. Retrieved on 2009-06-24. 
  11. ^ "What is the difference between EMBA-Global Asia and other Executive MBA programmes?". London Business School. http://www.emba-global.com/asia/faqs.html?WT.svl=topnav#Other_EMBA_difference. Retrieved on 2009-06-24. 
  12. ^ "London Business School Launches Dubai Centre at the DIFC". Dubai International Finance Centre. http://www.difc.ae/press_centre/archive/2007/445.html. Retrieved on 2009-06-24. 
  13. ^ "Sloan Masters in Leadership and Strategy". London Business School. http://www.london.edu/programmes/sloanfellowshipmsc.html. Retrieved on 2009-06-23. 
  14. ^ "Masters in Finance". London Business School. http://www.london.edu/mif.html. Retrieved on 2009-06-23. 
  15. ^ "Masters in Management Programme Detail". London Business School. http://www.london.edu/mastersinmanagement/programmedetails.html. Retrieved on 2009-06-23. 
  16. ^ "Open Programmes at London Business School". London Business School. http://www.london.edu/executiveeducation/programmesforindividuals.html. Retrieved on 2001-01-28. 
  17. ^ "Custom Programmes at London Business School". London Business School. http://www.london.edu/executiveeducation/custom.html. Retrieved on 2001-01-28. 
  18. ^ "Research activities: London Business School, Faculty & Research". London Business School. http://www.london.edu/researchactivities.html. Retrieved on 2007-06-16. 
  19. ^ "End of research on women on MBA Channel". London Business School. http://www.mba-channel.com/channel/article/lbs-women-research-frauenforschung. Retrieved on 2009-06-04. 
  20. ^ "PhD: London Business School, Programmes". London Business School. http://www.london.edu/phd.html. Retrieved on 2007-06-16. 
  21. ^ "Google scholar". Google. http://scholar.google.com/scholar?q=%22Nirmalya+Kumar+%22&hl=en&lr=&btnG=Search. Retrieved on 2009-06-23. 

[edit] External links

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