Bala V. Balachandran

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Bala V. Balachandran
Prof. Bala.jpg
Prof. Bala V Balachandran
Born (1937-07-05) 5 July 1937 (age 81)
Other namesBala, V. Balachandran
OccupationAcademician, Professor, Educationist, Entrepreneur
Known forFounder & Dean, Great Lakes Institute of Management
Spouse(s)Vasantha Balachandran
AwardsPadma Shri

Bala V. Balachandran (born 5 July 1937) is the J. L. Kellogg Distinguished Professor of Accounting and Information Management at the Kellogg School of Management at Northwestern University and Founder and Dean of Great Lakes Institute of Management in Chennai, India.[1] Bala is married to Vasantha. They have two sons, Sudhakar Balachandran (Director of MBA Graduate Studies & Associate Professor of Accounting at the University of Illinois, Chicago) and Diwakar Balachandran (Professor, Department of Pulmonary Medicine, Division of Internal Medicine, The University of Texas MD Anderson Cancer Center).

His book Living Legends – Learning Lessons was published in 2016 profiling 10 leaders (from India and the US) and their distinctive leadership styles. His next book written in collaboration with T N Seshan titled Yogyathwa is about access to powerful leadership. It was released in March 2017.

Early Life and Education[edit]

Bala was born on July 5th 1937 at Pudupatti (a small village near Pudukottai, Tamil Nadu, India) as the oldest of 6 children of Jambakam and A Venkataraman in a modest, middle class family.  His paternal uncle was Shri S Satyamurti, renowned freedom-fighter and accomplished leader of the INC from the Madras Presidency.

His school years were spent at the Kulapathi Balaiya school and the Christian Mission school at Pudukottai followed by the Intermediate education at the H.H. The Rajah’s college. He pursued his graduate and post graduate studies at the Annamalai University.

Military Service[edit]

After his graduation, Bala took up a teaching position in the Department of Statistics, Annamalai University in 1959. In Sino-Indian war, Bala enlisted to joined as a Commissioned Officer in the Indian Army through the Short Service Commission and was promoted as Captain in 1962. He was then posted to serve as NCC Commander at Chennai while he continued to teach at Annamalai University.

Great Lakes Institute of Management[edit]

The magnum-opus of Bala’s career, Great Lakes Institute of Management was originally conceived as Bala’s dream project of putting Chennai on the International Management Education map. Set up in 2004 as a single-program, single-city b-school, today, Great Lakes has grown quickly and offers a full bouquet of Management programs aimed at upskilling the entire professional population of the country. Apart from the one-year Management program (PGPM), the school also offers the two-year traditional model MBA (PGDM), the Executive MBA program (PGXPM), weekend/flexible MBA (PGPM flex) and many niche management programs in different specialties for varying durations[2]. Great Lakes also has another fully functional, state-of-the-art, residential campus at Gurugram and multiple smaller operations in other cities as well to offer blended and MOOC learning programs. Great Lakes has a Corporate Learning & Development function that offers customized learning and skill development to many eminent corporations.

Great Lakes is in the process of setting up its Incubator at Chennai under the aegis of the Niti Aayog’s Atal Innovation Mission along with support from the Industry.


  • Bala Balachandar, Desai Hemang; Ramesh, K, Ramu Thiagarajan: "An Investigation of the Informational Role of Short Interest in the NASDAQ Market", Journal of Finance
  • Bala Balachandar, Shyam Sunder: "Interface between ABC/M Requirements and Multi- Dimensional Databases", in Journal of Cost Management
  • Bala Balachandar, David Barter: "Velocity Costing for a Manufacturing Environment" in Journal of Cost Management
  • Bala Balachandar, S.Sridharan: "Optimal Cost Management and Managerial Incentives" in Journal of Accounting and Public Policy
  • Bala Balachandar, Jonathan Booth: "Activity Based Management for Automobile – Retail Store", Journal of Cost Management
  • Bala Balachandar, S.Mahalingam, F.C.Kohli: "Activity-Based Management for Systems Consulting Industry", Journal of Cost Management
  • Bala Balachandar, Glen Navis: "Volume Adjusted Costing: A Quick and Implementable Solution", Journal of Cost Management
  • Bala Balachandar, S.Chaudhuri:"Growth Strategies Creating Shareholder Value", Indian Accounting Review
  • Bala Balachandar, N.Thondavadi: "What Can Go Wrong with ABC", Corporate Controller Journal
  • Bala Balachandar, R.Balakrishnan, Siva Konduru:"On the Efficiency of Cost-Based Rules for Capacity Planning”, Accounting Review
  • Bala Balachandar, S. Sridharan:"Structured Interdependencies and Managerial Control", Management Science
  • Bala Balachandar, R.Balakrishnan, K.Sivaramakrishnan:"Capacity Planning with Demand Uncertainty" in Engineering Economist

Research Projects[edit]

  • Principal investigator for "Cost Effective Uses for High-tech Teaching for Languages," Sloan Foundation, New York.
  • Principal Director for a $1 million endowment Center, "E&Y LIVE: (Leadership through Innovation and Value Enhancement).
  • Principal Investigator for "Reengineering Revisited" Economics Impact" (with R. Thiagarajan, a $70,000 project funded by Financial Executive Research Foundation, New York.
  • Project Director for the "Management Development Program" in India – a joint collaboration between the Kellogg Graduate School of Management and the Government of India's National Management Program. The United Nations Development Program is sponsoring this program with a three-year grant totalling $547,100.


  • Balachandran, Bala V; Sridhar, S. (June 1997). "Incomplete information, task assignment, and managerial control systems". Management Science. Institute for Operations Research and the Management Sciences. 43 (6): 764–778. doi:10.1287/mnsc.43.6.764. ISSN 0025-1909. JSTOR 2634621.
  • Balachandran, Bala V; S. Ramu Thiagarajan (1999). Reengineering Revisited. Financial Executives Research Foundation. ISBN 1-885065-16-7.
  1. ^ Bhargava, Anjuli (2018-03-23). "How Bala swam across oceans to create Great Lakes". Business Standard India. Retrieved 2018-11-19.
  2. ^ "Post Graduate Programme in Management (PGPM) | One Year MBA Program in India - Great Lakes Institute of Management". Retrieved 2018-12-04.

External links[edit]