Every year, tens of thousands of students write the Common Admission Test, a prerequisite for admission to the top business schools in the country. This is their first step towards the much-coveted Master of Business Administration degree. The creme de la creme is taken under the wing of the big names i.e. the IIMs which is the usual trend. However, the generation of this age are not know for their ability to follow trends, they are most often referred to as \"trend setters\". So, what do trend setters do? They track new paths and discover fresh avenues. An institute that quite aptly fits the wavelength of the times is Indian School of Business or the ISB. The Indian School of Business was established in 2001 with an aspiration to put India on the global map of management education. Within a decade of its inception, the ISB successfully pioneered several new trends in management education in India, and firmly established itself as a world class management institution.
Not quite surprisingly, the ISB manages to leave the IIMs trailing behind with its innovative pedagogy designed for the fast paced generation of today. This is fairly displayed in their placement results. The ISB\'s average salary of Rs.15.4 lakhs, the lowest in their bands is comparable with the IIMs. But it is still a clean Rs.3 lakhs above what an IIM graduate could expect. The factor that seems to be \'doing the trick\' for the ISB is the input in terms of the global diversity of students and work experience of candidates who join the institute.
Save a Year with PGP
For working professionals, an additional year of study is potentially an additional year of income lost. The ISB amends this with it\'s flagship program Post Graduate Programme in Management (PGP), a one year, full-time residential program known for the depth and rigor in its pedagogy. However, this does not lessen the ISB degree\'s value in any way. There are no breaks in the one-year program, which is more demanding than the traditional two-year course. Secondly, unlike most B-schools which have a large influx of fresh graduates, the ISB insists its applicants have prior work experience.
\"The Academic Model at the Indian School of Business (the ISB) seeks to create global leaders in business and society. A student of the Post Graduate Programme in Management (PGP) is exposed to a variety of learning methods, be it team-based learning or individual case studies. At the ISB, you can decide your own academic gradient, based on your work experience, academic background and your appetite for a challenge,\" says V.K. Menon, Senior Director, Admissions and Careers, Indian School of Business.
Now in its eleventh year, the ISB\'s flagship Post Graduate Program in Management (PGP) has expanded to be delivered in two locations. The intake for the current class is for a single program, across the two campuses - Mohali and Hyderabad. Following ISB\'s unique portfolio faculty model, top visiting and resident faculty impart cutting-edge management insights and practices at both locations.
Another startling feature of the one year flagship program is that ISB is not accredited by the All India Council of Technical Education (AICTE). The institute has not been denied of the accreditation instead it 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 which is jolly good for working students in India as it still delivers the punch they require to get ahead, a knockout package at the end of the program.
Besides its tailor fit program ISB\'s backbone lies in its faculty. The ISB is associated with three top global business schools, namely the Kellogg School of Management, The Wharton School and London Business School. There is a judicious mix of international and resident faculty. Besides, the faculty includes research members, i.e. teachers who are working on and researching their areas of specialization.
The ISB today has a strong pool of research-oriented resident faculty and invites high caliber international faculty to teach in its Post Graduate Program in Management (PGP), Post Graduate Program in Management for Senior Executives (PGPMAX), and Executive Education Programs. In addition to teaching, the visiting faculty also participates in collaborative research with the resident faculty. The faculty at ISB has contributed more than 150 articles to reputed journals.\"An eclectic and accomplished team of faculty teaches at the ISB. The current team of permanent faculty has been chosen from leading international business schools on the basis of their research excellence and teaching acumen,\" says Menon. Visiting faculty from top business schools worldwide also teach at ISB, bringing their perspectives into the mix and enriching it further. This dynamic research environment is made even more vibrant by the visiting scholars and research scholars that the institute hosts each year.
The school has over 3500 PGP Alumni and 12000 Executive Education Alumni, making an impact on business and society across the world.\"Our alumni work in various industries and functions such as management consulting, technology consulting, finance, real estate, media, manufacturing, IT (products, services and ITES), telecom, automobile, and oil/energy. Around 200 alumni are running their own entrepreneurial ventures, six alumni are currently pursuing PhDs and one has even joined ISB as faculty,\" says Menon.
Ausang Shukla, Class of 2005, Senior Vice President, Macquarie Capital says,\"At a personal level, ISB truly helped me broaden my outlook through various activities and interactions with classmates and faculty. The intensive rigor of completing an MBA course in a one-year programme has taught me how to balance my time and prioritize activities.\"
Nitin Vyakaranam, Class of 2006, Founder and Chief Executive Officer, ArthaYantra Corporation Pvt. Ltd says, \"I have become more organized and have been able to manage my time better post-ISB. I have also been able to channelize my energy in the right direction.\"
Indian School of Business with its flagship program PGP has changed many lives and ignited brilliance in numerous individuals but it has four other major courses on offer and many more in the pipelines:
Post-Graduate Program in Management for senior executives (PGPMX)
Part-time management program spread over 15 months. This program is particularly useful to senior executives who are unable to take a sabbatical from work to attend the full-time program.
Management Program for Family Business (MFAB)
MFAB has been specially designed to groom the younger generation of family-owned businesses for leadership.
Center for Executive Education (CEE)
The ISB offers executive education programs for middle and senior management under three heads: Open programs: Research based short-duration courses focusing on select industry sectors
General Management programs: Designed for high performing executives identified for leadership roles
Custom designed programs: Catering to specific needs of an organization
Fellow Program in Management (FPM)
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 program, students go from learning basic disciplines of management, to completing area-specific coursework, publishing individual papers and finally submitting their dissertation.
The Indian School of Business co-founded by Rajat Gupta and Anil Kumar in 2001, currently has close to 900 students. It has two functioning campuses that are digitally united. It is the first business school in South Asia to be accredited by the Association to Advance Collegiate Schools of Business and has numerous accolades to its name. ISB has disrupted the trends of management education with its innovative programs and fearless movement away from the set norms towards the path of progress. Through this bold move, countless individuals have benefited and advanced their careers and ISB stands to be recognized as one of the premier B-schools in the country.
Panel 1: Unique Features of the ISB
A diverse peer group: The peer network that the ISB offers is remarkable. Both campuses have a rich and equally diverse pool of students. Entrepreneurs, army officers, young leaders and seasoned professionals make an extremely engaging classroom experience.
Emerging markets focus: The curriculum at the ISB has been tailored to be extremely relevant in today's day and age, especially in the context of emerging economies. The professional clubs on campus organize study/industry treks to south-east Asian countries, the Center for Emerging Markets Solutions (CEMS) and the Bharti Institute of Public policy (BIPP) provide research and tools to help prepare leaders for the challenges and opportunities of the emerging economies enabling students to position themselves for the emerging markets.
Exchange opportunities: The School has links with some of the most renowned global B-schools: London business school, Tuck school of business, NUS, Wharton, Kellogg , Fuqua, CEIBS to name a few. Inter-campus exchange is also extremely popular among the students who use it to make the most of the cross-learning facility that the school offers.
Return on investment: The opportunity cost at a one year program offered by the ISB is considerably lower. Also in comparison to other global business schools with a one year program, the MBA education offered by the institute is quite affordable. With average work-experience ranging between 4 to 5 years, the average salaries are superior to most other Indian B-schools.
Rich academic options: In addition to the exhaustive list of electives that the School offers, the ISB offers an attractive set of practicum courses. The ISB offers the experiential learning program for real world business problems, the Faculty initiated research program, and the Planning an Entrepreneurial Venture program for their respective initiatives.