Indian School of Business

Indian School of Business

Logo of the Indian School of Business

The entrance to ISB's Hyderabad campus
Motto "Where Leaders Are Made"
Type Private business school
Established 2001 (2001)
Chairman Adi Godrej (2011-present)
Dean Rajendra Srivastava
Co-Founders Rajat Gupta and Anil Kumar
Academic staff
 49 Permanent Faculty
105 Visiting Faculty [1]
Students 900
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
260 acres (110 ha) (Hyderabad)
70 acres (28 ha) (Mohali)
Colours Sky Blue
Nickname ISB
Website ISB.edu

Indian School of Business (ISB), a private business school in India with campuses at Hyderabad and Mohali, is a non profit organization.[2] 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.[3] ISB is the first business school in Indian subcontinent to be accredited by the Association to Advance Collegiate Schools of Business.[4] However, ISB is not accredited by the Indian statutory body, the All India Council for Technical Education (AICTE).[5] ISB has chosen not to apply for accreditation by AICTE as it offers neither a diploma nor a degree.[6] In 2008, ISB became the youngest institution to find a place in global MBA rankings when it was ranked 20.[7]

History

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.[8] 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.[9]

Accreditation

ISB is accredited by the Association to Advance Collegiate Schools of Business.[10] AACSB is a non-profit membership organization that provides a quality certification to its member schools and their programs similar to EQUIS or AMBA.[11] 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),[12] 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.[13][14] 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.[15]

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.[16]

Campuses

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

Hyderabad Campus

Hyderabad Campus

The campus was set up in 2001 and is spread across 260 acres.[17] 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.[18]

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.

Mohali Campus

Mohali Campus

ISB's Mohali campus commenced operations on 14 April 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:[19] Design for the Mohali Campus was done by Perkins Eastman Architects led by Aaron Schwarz

Courses offered

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 29th by the Financial Times in their 2016 rankings.[20]

Student receiving PGP degree from Azim Premji during Graduation ceremony (2014). Dean Ajit Rangnekar standing next to Premji; Adi Godrej in the background.
Graduation hats being tossed by fresh graduates in ISB

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.[21]

ISB Biocon Certificate Programme for Business Analytics (CBA)

The Indian School of Business has recently launched a one-year Certificate program in Business Analytics (CBA) in collaboration with Biocon. The program is a combination of classroom and technology aided learning platform. The curriculum consists of Statistics, Machine Learning and contemporary analytics. CBA is a rigorous and challenging programme.[22]

The programme is designed in a manner that minimizes disruption of work. Participants will typically be on campus for a 5 day schedule of classroom learning every alternate month for a span of 12 months, which would ideally be planned to include a weekend.[22] The on campus days consists of classes followed by lectures from invited industry speakers. Participants will normally elect cultural representatives who will ensure that on campus days have an element of fun.

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:[23]

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".[24]

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).[25][26]

Management Programme in Public Policy (MPPP)

In April 2015 ISB started a highly innovative course in Public Policy. The MPPP is tailor-made for mid- career professionals both in the public and private sector. Its uniqueness stems from it providing a rigorous and inter-disciplinary conceptual learning experience for high performing civil servants and private sector professionals, the MPPP aims to equip students with useful skill-sets and the latest in policy thinking and implementation around the world while facilitating a cross border and cross cultural knowledge exchange between the private and public sector. The course is delivered via a unique hybrid model with six residencies involving intensive class room sessions spread over a year, interspersed with online interaction and group work though a Learning Management System (LMS)– first of its kind in India. The modular residency format facilitates acquisition of knowledge and skill-sets without requiring participants to take a break from their regular jobs.

In April 2016, ISB completes the first Management Programme in Public Policy of its founding batch, and is ready to start the second batch. The programme has been developed by the ISB's Bharti Institute of Public Policy in consultation with one of the world’s leading public policy schools - The Fletcher School of Law and Diplomacy, Tufts University, USA. The course focuses on - Macroeconomic policy; Politics, government & public policy; Economic analysis & formulation of public policy; Public policy: theory & practice; Planning, budgeting, accounting and controlling; Public economics: Law, tax, and regulations; Regulating the financial service industry; Strategic management & administrative reforms; Theory & practice of negotiation; Agricultural & food policy; Financial management, international project finance, public sector finance & policy; Urban planning & governance; Corporate finance & Global financial markets; Environmental policy; Global diplomacy, India's foreign policy, Geopolitics & Security Studies. Course also spans across thematic areas through case work and guest lectures in the areas of Social Policy, Education, Skill Development, Employment, Healthcare, Energy Security, Manufacturing and Infrastructure.

Apart from these full time courses, there are guest lectures of leading management, policy, media and governance practitioners The full time faculty engaged in the course by ISB include, Prof. Prajapati Trivedi, who is the Faculty Chair of the programme, Prof. Laurent Jacque, Prof. Shashi Tharoor, Prof. N.C.Saxena, Prof. Shyam Saran, Prof. Pradeep Singh, Prof. Balveer Arora, Prof. Phil Ulhmann, Prof. K P Krishnan, Prof. Lawrence A. Weiss, Prof.John Floretta, Prof. Jagan Shah, Prof. Bharat Ramaswamy, Prof. Ashwini Chattre and Prof. Dishan Kamdar, and a number of guest faculty including Shri. Vinod Rai, the former CAG of India. The students of the first founding batch have been drawn from the government, public sector and civil society organisations, having large experience of working on the policy issues at the ground.[27]

Student Clubs

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:[28]

  • 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 researr

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.

ISB Center for Entrepreneurship (ICE)

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.

Institutes

Institutes develop talent and deepen research-based knowledge in specialized verticals. There are four institutes at the ISB that target areas critical to India's growth:

Max Institute of Healthcare Management

The Max Institute of Healthcare Management aspires to play a key role in the development of the health sector in India and other emerging countries. Building on the vehicles of education, research and analysis, the Institute will provide thought leadership within the industry, bring together public and private entities to effectively meet healthcare needs, and provide a platform for innovation and transformation efforts nationally and globally.

The Institute is affiliated to Wharton, Access Health International and D-Labs.

Scholarships

The Indian School of Business doubled the total outlay of student scholarships to ₹8 crore (US$1.2 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.[29][30] ISB alumnus bags scholarship worth ₹2.5 crore (US$370,000) – indiatoday.com [31]

Diversity Scholarships

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.[32][33]

AIESEC Scholarship

It's a 5 Lakh INR Merit based scholarship applicable only for AIESEC alumni.

Alumni Sponsored Scholarships

  1. 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.
  2. 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.
  3. 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

Corporate Scholarships

  1. 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.
  2. Citi Scholar - INR 7.5 Lakhs. Merit based.
  3. Societe Generale - Full Tuition. Need based. Only those with a family income of less INR 5 lakhs per annum (or) Family income and Student's pre-ISB income of less than 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.

International Scholarships

India Global Scholarship - Ten scholarships will be offered to applicants from ten different international geographic areas [34]

Events

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

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

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.

ISB Leadership Summit (ILS)

The ISB Leadership Summit, or the ILS, is the annual flagship event of the ISB's Graduate Student Association, that provides the students with an opportunity to interact with eminent business leaders. ILS aims to host some of the boldest, most innovative leadership thoughts from across countries and sectors. It brings together the best minds at the leading-edge of industry, policy and academics through focused and interactive debates.[35] The event has intellectually-stimulating discussions and experts are invited to speak on a variety of topics from marketing challenges in India to the advances in the pharmaceutical industry.

Every year, a theme is decided by the ILS team along with the Dean and the President of the Graduate Student Body and eminent speakers are invited to talk on topics that link to the over arching theme. Several events, such as panel discussions, breakout sessions, shadow-a-leader are held during the course of this event, and is held for 1 day at Mohali and 2 days at the Hyderabad Campus of the ISB.

ISBInsight

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

Institute rankings
Business – international
QS (MBA-Asian)[36] 7
Financial Times (MBA)[37] 29
Medical - India
Business – India
Business Today[38] 8
Hindustan Times[39] 5

The school's post graduate management program was ranked #29 in the world in the 2016 Financial Times Global MBA Rankings, dropping 1 place from 2014.[40] The program was ranked #29 in the world in the same rankings in 2016 Financial Times Global MBA Rankings 2016, jumping 4 ranks from 2015. 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.[36] 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. The school's Business Analytics Programme (CBA) is ranked No.1. by Analytics Vidhya, a knowledge portal for analytics.[41]

References

  1. ↑ Outstanding Faculty | Indian School of Business (ISB). Isb.edu (2013-07-12). Retrieved on 2013-07-18.
  2. ↑ http://www.isb.edu/about-isb
  3. ↑ . Rankings.ft.com. Retrieved on 2013-07-18.
  4. ↑ ISB becomes first B-school in South Asia to get AACSB accreditation. Business Standard (2011-12-05). Retrieved on 2013-07-18.
  5. ↑ "AICTE does not recognize ISB or its PGP". Deccan Herald, India. 27 October 2012. Retrieved 20 June 2014.
  6. ↑ "ISB has not applied for AICTE accreditation". Indian School of Business. Retrieved 20 June 2014.
  7. ↑ "FT Rankings 2008".
  8. ↑ ISB - The Mckinsey Brainchild. Consulting Network (2009-05-15). Retrieved on 2013-07-18.
  9. ↑ Resource management need of the hour: PM, Hindu Business Line, HYDERABAD, 2 Dec.
  10. ↑ School of Business gets AACSB accreditation, Economic Times, PTI 2 December 2011, 08.50pm IST
  11. ↑ "About AACSB". Association to Advance Collegiate Schools of Business. Retrieved 20 June 2014.
  12. ↑ "ISB on the list of institutes unapproved by AICTE". The Times of India. 9 November 2012. Retrieved 16 May 2014.
  13. ↑ "ISB cannot offer MBA". Indian School of Business. Retrieved 21 June 2014.
  14. ↑ "ISB PGP is not recognized by AICTE". Indian School of Business. Retrieved 21 June 2014.
  15. ↑ "Harassment by AICTE: The saga continues". Livemint.com. Retrieved 21 June 2014.
  16. ↑ "USCIS ruling on petition on ISB PGP equivalence" (PDF). United States Citizenship and Immigration Services. 4 October 2011.
  17. ↑ Chanda Kochhar on board of ISB, Swati Bharadwaj-Chand, TNN 12 January 2010
  18. ↑ "ISB Hyderabad Campus".
  19. ↑ Wharton business school to expand presence in India, Saumya Bhattacharya, Economic Times Bureau 5 Apr 2011
  20. ↑ ft.com
  21. ↑ "PGPMAX". The Hindu (Chennai, India). 2009-12-07.
  22. 1 2 http://www.isb.edu/cba/programme-overview
  23. ↑ Executive Education | Management Development Programs | Indian School of Business (ISB). Isb.edu. Retrieved on 2013-07-18.
  24. ↑ Goldman Sachs, ISB mentor women entrepreneurs, Business Standard, Komal Amit Gera / Chandigarh 28 Aug 2012
  25. ↑ ISB launches young leaders' programme, Business Standard, BS Reporter / Chennai/ Hyderabad 6 January 2011
  26. ↑ ISB selects 45 students for Young Leaders Programme, MSN News, retrieved 1 November 2012
  27. ↑ http://www.isb.edu/sites/default/files/MPPP-class-profile-batch1-2015.pdf
  28. ↑ "ISB Student Clubs".
  29. ↑ , Business Standard, Press Trust of India / New Delhi 6 October 2011
  30. ↑ , Business World, BW Online Bureau, 12 October 2011
  31. ↑ http://www.indtoday.com/isb-alumnus-bags-scholarship-worth-rs-50-k-indtoday-com/
  32. ↑ ISB Announces Scholarships To Increase Student Diversity. Businessworld.in (2012-09-06). Retrieved on 2013-07-18.
  33. ↑ ISB announces 40 scholarships worth Rs 2.5 crore - Rediff Getahead. Rediff.com (2012-09-06). Retrieved on 2013-07-18.
  34. ↑ http://www.isb.edu/pgp/fees-financing/Scholarships/international-scholarships
  35. ↑ "ILS 2014". ils.isb.edu. Retrieved 2015-08-20.
  36. 1 2 "QS World University Rankings". QS Quacquarelli Symonds Limited. 2011. Retrieved February 12, 2012.
  37. ↑ "Global MBA Rankings 2013". Financial Times. 2013. Retrieved 29 October 2013.
  38. ↑ "The 50 best business schools". Business Today. 28 October 2012. Retrieved 28 October 2012.
  39. ↑ "India's top 50 business schools" (jpg). Hindustan Times. 30 August 2011. Retrieved 26 December 2011.
  40. ↑ Global MBA Rankings 2015
  41. ↑ http://www.analyticsvidhya.com/blog/2014/12/top-analytics-programs-india-2014-2015/

External links

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