Indian School of Business (ISB), is one of the prestigious business schools in India and is rated amongst the best in the world. The institute has various management programs with the PGP as its flagship course .Admission to the coveted management program is rigorous and has also the distinction of having one of the most stringent selectivity ratio internationally . The student cohort has a diverse mix with students coming in from top Indian and International Universities like the IITs , BITS Pilani, NITs , SRCC , ISI etc. There are students who are doctors , people from defence establishments ,sportsman and who have excelled in various other professions .ISB has integrated campuses at Mohali, Punjab and Hyderabad, Telangana, and is a non profit organization. The school was founded by two senior executives of McKinsey & Company with the backing of government and is governed by a board comprising both Indian and non-Indian businessmen.
ISB has been ranked 27th in the world in the 2017 Financial Times Global MBA Rankings. It is the first business school in Indian subcontinent to be accredited by the Association to Advance Collegiate Schools of Business. In 2008, it became the youngest institution to find a place in global MBA rankings when it was ranked 20. Indian School of Business accepts both GMAT and GRE scores for the admission process.
The school celebrated it's 15th year in 2016. Sri Pranab Mukherjee, the Honorable President of India gave the inaugural speech to Students, Alumni and Staff at the Mohali campus, commencing a series of global events involving the school alumni, Dean and industry experts.
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. 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 governments were pivotal in sanctioning ISB's 260-acre Hyderabad campus in September 1998, and the 70 acre Mohali Campus in 2010. The foundation stone for the Hyderabad campus was laid in 1999 and was inaugurated by Prime Minister Atal Bihari Vajpayee in 2001., while the foundation stone for Mohali campus was laid in September 2010 by Punjab Chief Minister Prakash Singh Badal, and was inaugurated in December 2012 by the then Union Minister of Finance, Shri P Chidambaram
Accreditation
ISB is accredited by the Association to Advance Collegiate Schools of Business. AACSB is a non-profit membership organization that provides a quality certification to its member schools and their programs similar to EQUIS or AMBA. 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), 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. 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.
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.
Campuses
The Indian School of Business (ISB) has two campuses, one in Mohali (Punjab) and another in Hyderabad (Telangana).
Mohali Campus
The Mohali campus (commenced operations on 14 April 2012) offers the ISB's flagship Post-Graduate Programme (PGP) and additional short term executive education programs. Design for the Mohali Campus was done by Perkins Eastman Architects led by Aaron Schwarz. The entire campus is wi-fi enabled. The academic block houses lecture theatres, faculty offices, faculty lounge, the learning resource centre (LRC) and the atrium plays host to a 500-seater auditorium besides a coffee shop (CCD). In addition, the campus also hosts four other research institutes:
- Max Institute of Healthcare Management
- Bharti Institute of Public Policy
- Munjal Institute for Global Manufacturing
- Punj Lloyd Institute of Infrastructure Management
Hyderabad Campus
The campus, one of the largest B-school campuses in Asia, was set up in 2001 and is spread across 260 acres. 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.
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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. ISB has been ranked 27th by the Financial Times in their 2017 rankings.The students are allotted either the Mohali or the Hyderabad campus based on lottery
Post Graduate Programme in Management for Working Professionals (PGPpro)
A weekend Executive-MBA level programme designed to meet career consolidation goals of working professionals and business owners.
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.
ISB Certificate Programme for Business Analytics (CBA)
The ISB Certificate Programme in Business Analytics (CBA) was launched in collaboration with Biocon in 2012. The programme is a combination of classroom and technology aided learning platform. The curriculum consists of:
- Statistics,
- Big Data Management,
- Machine learning & IOT,
- Deep Learning and other contemporary analytics.
It is the most matured programme in the country for Data Science and Business Analytics. ISB has launched CBA 2.0 in 2016 and this programme is of 15 months duration in addition to 40-45 Days of Pre-term classes.
Post Graduate Programme in Management for Family Business (PGPMFAB)
PGPMFAB 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:
- Open programmes: Research based short-duration courses focusing on select industry sectors
- General Management programmes: Designed for high performing executives identified for leadership roles
- Custom designed programmes: Catering to specific needs of an organization
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".
Fellow Programme in Management (FPM)
Fellow Programme in Management (FPM) was introduced in 2011. The course requires a dedicated 4â€"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).
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.
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.
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:
Institutes
There are four institutes at the ISB:
- Bharti Institute of Public Policy
- Max Institute of Healthcare Management
- Munjal Institute for Global Manufacturing
- Punj Lloyd Institute of Infrastructure Management
Max Institute of Healthcare Management
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. ISB alumnus bags scholarship worth ₹2.5 crore (US$390,000) â€" indiatoday.com
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.
AIESEC Scholarship
It's a 5 Lakh INR Merit based scholarship applicable only for AIESEC alumni.
Alumni Sponsored Scholarships
- 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.
- 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.
- 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
- 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.
- Citi Scholar - INR 7.5 Lakhs. Merit based.
- 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
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.
Equinox
Equinox, the annual alumni learning and networking event is an alumni learning event organized at Mohali 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.
Solstice
Solstice, an annual socio-business networking event at Hyderabad campus 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.
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. 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.
Rankings
The school's post graduate management program was ranked #27 in the world in the 2017 by FT MBA Global rankings with ISB sharing the spot with Cornell's Johnson [4]. In 2008 ISB became the youngest and first Indian business school to break into the global top 20. In the QS Global 200 Business Schools Report the school was ranked #7 in the Asia-Pacific region for 2012.
References
http://rankings.ft.com/businessschoolrankings/global-mba-ranking-2017
External links
- ISB Official Website