| Indian School of Business | |
|---|---|
| Established | 1999 |
| Type | Private |
| Chairman | Adi Godrej |
| Dean | Ajit Rangnekar |
| Co-Founders | Rajat Gupta and Anil Kumar |
| Academic staff | 40 Permanent Faculty ~100 Visiting Faculty |
| Postgraduates | 574 (2012) |
| Location | Hyderabad, Andhra Pradesh, India |
| Campus | Urban |
| Website | ISB.edu |
The Indian School of Business is a business school in Hyderabad, India. 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 state of Andhra Pradesh, 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.[1] 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.[2]
The Hyderabad based Indian School of Business (ISB) has become the South-Asia's first B-School to earn an accreditation by the Association to Advance Collegiate Schools of Business (AACSB). Less than five per cent of the world's business schools are accredited by AACSB. Achieving AACSB accreditation is a process of rigorous internal review, evaluation, and adjustment. The ISB's accreditation coincides with the tenth anniversary of the school, which has become the youngest institution to be ranked among the top 20 b-schools in the world.[3]
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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.[4] 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.[5][6]
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.[7]
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.[6]
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.[9]
ISB's Mohali campus is set to open in 2012.[10]
The Mohali campus will house four institutes:
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.[11] The school has seven Centers of Excellence, each with a particular focus on issues relevant to emerging markets:
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.[12]
In 2011, ISB's Financial Times global ranking was #13.[13] In 2010, ISB's Financial Times global ranking was #12.[14] In 2010 QS Global 200 Business Schools Report[15] the school was ranked 9th in the Asia Pacific region.
ISB has academic associations with the Kellogg School of Management, 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 school 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.[16]
On the 2nd of December 2011, ISB announced its accreditation by the Association to Advance Collegiate Schools of Business, making it the first business school in South Asia to be recognized by the global body.
The institution’s co-founders, dean, and board members have been involved in several controversies in their respective careers. These, in chronological order, are:
None of ISB's programmes are approved by AICTE, the central accreditation body in India. ISB had also been included in the list of those institutions that violate All India Council of Technical Education (AICTE) regulations.[33] According to ISB, AICTE does not have rules to recognize ISB's short duration programs.[34] In August 2010 AICTE started approving short duration programs as well.[35]