Indian School of Business
Encyclopedia
The Indian School of Business is a business school
in Hyderabad, Andhra Pradesh
, India and is widely recognized as one of the top business schools in the world. It offers a Post Graduate Programme in Management (MBA-equivalent), a Fellow Program in Management, and a Post Graduate Programme in Management for Senior Executives (executive education). The school is a public-private partnership
founded by two senior executives of McKinsey and Company in cooperation with the Government of India
, and led by a board of national and international business leaders.
The school's MBA-equivalent program was ranked #13 in the world in the 2011 Financial Times
Global MBA Rankings. The school is notable for being the first Indian institution and youngest institution ever to be considered a top global business school by the Financial Times, ranking among the top 20 worldwide only seven years after opening.
The ISB has also been involved in controversies, including its co-founders and executive board members Rajat Gupta
and Anil Kumar
involved in the Galleon Group
insider trading
case, as well as dean emeritus Mendu Rammohan Rao
and board member Ramalinga Raju involved in the Satyam Scandal
. They have all since resigned. Additionally, none of the school's programs are accredited by the All India Council of Technical Education.
ISB was started in 1996 by a group of business leaders and academicians led by McKinsey & Company
senior executives Rajat Gupta
and Anil Kumar
.
Co-founders and senior partners Rajat Gupta and Anil Kumar worked closely 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
, while Gupta recruited Kellogg
. The London Business School
followed shortly thereafter. 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; he served on the executive board with Anil Kumar until both resigned in the Galleon
insider trading
investigation from 2009-2011. Adi Godrej
succeeded Gupta as chairman in 2011.
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. Its first graduation ceremony was held on June 24, 2002 and was presided over by President A. P. J. Abdul Kalam.
ISB's Hyderabad campus is located in Gachibowli. According to ISB, the campus contains indigenous vegetation, rock formations, lawns, boulevards, and gardens. The campus consists of lecture halls, the auditorium, library, professors' rooms, administrative offices, auditorium and the cafeteria. ISB says that all lecture halls have AV equipment and network connectivity, the auditorium seats 400 people, and the library has over 31,000 books, 2000 AV resources, 374 print journals, and a computer centre with online access to 40 online databases including over 2,000 e-journals. ISB students have housekeeping services.
ISB's Mohali campus is slated to open in 2012.
Mohali campus will house four institutes:
According to the ISB, the Centres focus on generating research by working closely with industry through conferences, seminars, and workshops. ISB plans to start a centre for Strategic Marketing in the future.
ISB in 2009 conceived ISB’s annual national Social Venture Ideas Competition-iDiya, that aims to stimulate, enable and develop high-impact, self sustaining social businesses in India.
, Wharton School, London Business School
, the Fletcher School, and the MIT Sloan School of Management
. Kellogg and Wharton were the founding partner schools. These schools help design the curriculum and develop course material, participate in research and share faculty for the PGP, PGPMAX and Executive Education programmes.
The ISB has signed Memoranda of Understanding with MIT Sloan, Fletcher, and Wharton to set up institutes in the upcoming Mohali campus.
The ISB also announced that dean Ajit Rangnekar was appointed as a member of the Board of Directors of the Graduate Management Admission Council (GMAC), an association of top graduate business schools around the world. The ISB dean is the only representative from India invited to join this group of deans of leading business schools.
global ranking was #13.
In 2010, ISB's Financial Times
global ranking was #12.
ISB entered the top 20 of the Financial Times
global ranking in 2008, just seven years after opening.
In 2010 QS Global 200 Business Schools Report
the school was ranked 9th in the Asia Pacific region.
Business school
A business school is a university-level institution that confers degrees in Business Administration. It teaches topics such as accounting, administration, economics, entrepreneurship, finance, information systems, marketing, organizational behavior, public relations, strategy, human resource...
in Hyderabad, Andhra Pradesh
Andhra Pradesh
Andhra Pradesh , is one of the 28 states of India, situated on the southeastern coast of India. It is India's fourth largest state by area and fifth largest by population. Its capital and largest city by population is Hyderabad.The total GDP of Andhra Pradesh is $100 billion and is ranked third...
, India and is widely recognized as one of the top business schools in the world. It offers a Post Graduate Programme in Management (MBA-equivalent), a Fellow Program in Management, and a Post Graduate Programme in Management for Senior Executives (executive education). The school is a public-private partnership
Public-private partnership
Public–private partnership describes a government service or private business venture which is funded and operated through a partnership of government and one or more private sector companies...
founded by two senior executives of McKinsey and Company in cooperation with the Government of India
Government of India
The Government of India, officially known as the Union Government, and also known as the Central Government, was established by the Constitution of India, and is the governing authority of the union of 28 states and seven union territories, collectively called the Republic of India...
, and led by a board of national and international business leaders.
The school's MBA-equivalent program was ranked #13 in the world in the 2011 Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
Global MBA Rankings. The school is notable for being the first Indian institution and youngest institution ever to be considered a top global business school by the Financial Times, ranking among the top 20 worldwide only seven years after opening.
The ISB has also been involved in controversies, including its co-founders and executive board members Rajat Gupta
Rajat Gupta
Rajat Kumar Gupta was the managing director of management consultancy McKinsey & Company from 1994 to 2003 and a business leader in India and the United States...
and Anil Kumar
Anil Kumar
Anil Kumar is a male discus thrower from India. His personal best throw is 64.37 metres, achieved in July 2007 in Szombathely....
involved in the Galleon Group
Galleon Group
Galleon Group was one of the largest hedge fund management firms in the world, managing over $7 billion, before closing in October 2009. The firm was at the center of a 2009 insider trading scandal that resulted in investors pulling capital from the firm rapidly...
insider trading
Insider trading
Insider trading is the trading of a corporation's stock or other securities by individuals with potential access to non-public information about the company...
case, as well as dean emeritus Mendu Rammohan Rao
Mendu Rammohan Rao
-Biography:He has a PhD in Industrial Administration from Carnegie Mellon University. He also has a Master in Engineering and Master of Science in Industrial Engineering and Industrial Management....
and board member Ramalinga Raju involved in the Satyam Scandal
Satyam scandal
The Satyam Computer Services scandal was publicly announced on 7 January 2009, when Chairman Ramalinga Raju confessed that Satyam's accounts had been falsified.- Aftermath :...
. They have all since resigned. Additionally, none of the school's programs are accredited by the All India Council of Technical Education.
History
McKinsey & Company
McKinsey & Company, Inc. is a global management consulting firm that focuses on solving issues of concern to senior management. McKinsey serves as an adviser to many businesses, governments, and institutions...
senior executives Rajat Gupta
Rajat Gupta
Rajat Kumar Gupta was the managing director of management consultancy McKinsey & Company from 1994 to 2003 and a business leader in India and the United States...
and Anil Kumar
Anil Kumar
Anil Kumar is a male discus thrower from India. His personal best throw is 64.37 metres, achieved in July 2007 in Szombathely....
.
Co-founders and senior partners Rajat Gupta and Anil Kumar worked closely 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
Wharton School of the University of Pennsylvania
The Wharton School is the business school of the University of Pennsylvania, an Ivy League university in Philadelphia, Pennsylvania. Wharton was the world’s first collegiate business school and the first business school in the United States...
, while Gupta recruited Kellogg
Kellogg School of Management
The Kellogg School of Management is the business school of Northwestern University in Evanston, Illinois, downtown Chicago, Illinois and Miami, Florida. Kellogg offers full-time, part-time, and executive programs, as well as partnering programs with schools in China, India, Hong Kong, Israel,...
. The London Business School
London Business School
London Business School is an international business school and a constituent college of the federal University of London, located in central London, beside Regent's Park...
followed shortly thereafter. 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; he served on the executive board with Anil Kumar until both resigned in the Galleon
Galleon Group
Galleon Group was one of the largest hedge fund management firms in the world, managing over $7 billion, before closing in October 2009. The firm was at the center of a 2009 insider trading scandal that resulted in investors pulling capital from the firm rapidly...
insider trading
Insider trading
Insider trading is the trading of a corporation's stock or other securities by individuals with potential access to non-public information about the company...
investigation from 2009-2011. Adi Godrej
Adi Godrej
Adi Godrej is an Indian industrialist and philanthropist. , he is one of the richest Indians with net worth of US$7.3 billion. He is 130 on Forbes List of Billionaires. Also He is the second richest person of Parsi descent in the world after Pallonji Mistry.-Career:Godrej received his...
succeeded Gupta as chairman in 2011.
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
Prime minister
A prime minister is the most senior minister of cabinet in the executive branch of government in a parliamentary system. In many systems, the prime minister selects and may dismiss other members of the cabinet, and allocates posts to members within the government. In most systems, the prime...
of India Atal Bihari Vajpayee
Atal Bihari Vajpayee
Atal Bihari Vajpayee is an Indian statesman who served as the tenth Prime Minister of India three times – first for a brief term of 13 days in 1996, and then for two terms from 1998 to 2004. After his first brief period as Prime Minister in 1996, Vajpayee headed a coalition government from...
in 2001. Its first graduation ceremony was held on June 24, 2002 and was presided over by President A. P. J. Abdul Kalam.
Campus
ISB's Hyderabad campus is located in Gachibowli. According to ISB, the campus contains indigenous vegetation, rock formations, lawns, boulevards, and gardens. The campus consists of lecture halls, the auditorium, library, professors' rooms, administrative offices, auditorium and the cafeteria. ISB says that all lecture halls have AV equipment and network connectivity, the auditorium seats 400 people, and the library has over 31,000 books, 2000 AV resources, 374 print journals, and a computer centre with online access to 40 online databases including over 2,000 e-journals. ISB students have housekeeping services.
ISB's Mohali campus is slated to open in 2012.
Mohali campus will house four institutes:
- Max Institute of Healthcare Management
- Bharti Institute of Public Policy
- Munjal Global Manufacturing Institute
- Punj Lloyd Institute of Physical Infrastructure Management
Research
ISB has a small group of research faculty. According to a London Business School paper, the research output at ISB has been the highest among Indian institutions in the area of management in the period 2000-2009. ISB has seven Centers of Excellence, each with a particular focus on issues relevant to emerging markets:- Centre for Analytical Finance (CAF)
- Centre for Emerging Market Solutions (CEMS)
- Centre for Global Logistics and Manufacturing Strategies (GLAMS)
- Srini Raju Centre for Information Technology and Networked Economy (SRITNE)
- Centre for Leadership, Innovation and Change (CLIC)
- Wadhwani Centre for Entrepreneurship Development (WCED)
- Indu Centre for Real Estate and Infrastructure(ICREI)
- Centre for Teaching, Learning and Case Development
According to the ISB, the Centres focus on generating research by working closely with industry through conferences, seminars, and workshops. ISB plans to start a centre for Strategic Marketing in the future.
ISB in 2009 conceived ISB’s annual national Social Venture Ideas Competition-iDiya, that aims to stimulate, enable and develop high-impact, self sustaining social businesses in India.
Global partnerships
ISB has academic associations with the Kellogg School of ManagementKellogg School of Management
The Kellogg School of Management is the business school of Northwestern University in Evanston, Illinois, downtown Chicago, Illinois and Miami, Florida. Kellogg offers full-time, part-time, and executive programs, as well as partnering programs with schools in China, India, Hong Kong, Israel,...
, Wharton School, London Business School
London Business School
London Business School is an international business school and a constituent college of the federal University of London, located in central London, beside Regent's Park...
, the Fletcher School, and the MIT Sloan School of Management
MIT Sloan School of Management
The MIT Sloan School of Management is the business school of the Massachusetts Institute of Technology, in Cambridge, Massachusetts....
. Kellogg and Wharton were the founding partner schools. These schools help design the curriculum and develop course material, participate in research and share faculty for the PGP, PGPMAX and Executive Education programmes.
The ISB has signed Memoranda of Understanding with MIT Sloan, Fletcher, and Wharton to set up institutes in the upcoming Mohali campus.
The ISB also announced that dean Ajit Rangnekar was appointed as a member of the Board of Directors of the Graduate Management Admission Council (GMAC), an association of top graduate business schools around the world. The ISB dean is the only representative from India invited to join this group of deans of leading business schools.
Rankings
In 2011, ISB's Financial TimesFinancial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
global ranking was #13.
In 2010, ISB's Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
global ranking was #12.
ISB entered the top 20 of the Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
global ranking in 2008, just seven years after opening.
In 2010 QS Global 200 Business Schools Report
QS Global 200 Business Schools Report
The QS Global 200 Business Schools Report identifies the most popular business schools in each region of the world. It aims to serve employers seeking MBAs at a regional level. It originated in the early 1990s under the partnership Quacquarelli Symonds. The TopMBA Career Guide was made in 1990, and...
the school was ranked 9th in the Asia Pacific region.
Founders and dean
The institution’s co-founders, dean, and board members have been involved in several controversies in their respective careers. These, in chronological order, are:- Board member Byrraju Ramalinga Raju resigned over role in Satyam case
- Dean Mendu Rammohan RaoMendu Rammohan Rao-Biography:He has a PhD in Industrial Administration from Carnegie Mellon University. He also has a Master in Engineering and Master of Science in Industrial Engineering and Industrial Management....
resigned over role in Satyam case - Co-founder and executive board director Anil KumarAnil KumarAnil Kumar is a male discus thrower from India. His personal best throw is 64.37 metres, achieved in July 2007 in Szombathely....
resigned over role in Galleon case - Co-founder and chairman Rajat GuptaRajat GuptaRajat Kumar Gupta was the managing director of management consultancy McKinsey & Company from 1994 to 2003 and a business leader in India and the United States...
resigned over role in Galleon case