You are on page 1of 68

1

1. Introduction Harvard University is a private Ivy League university located in Cambridge, Massachusetts, U.S. Established in 1636 by the Massachusetts legislature, Harvard is the oldest institution of higher learning in the United States and the first corporation (officially The President and Fellows of Harvard College) chartered in the country. Harvard's history, influence, and wealth have made it one of the most prestigious universities in the world. Harvard was named after its first benefactor, John Harvard. Although it was never formally affiliated with a church, the college primarily trained Congregationalist and Unitarian clergy. Harvard's curriculum and students became increasingly secular throughout the 18th century and by the 19th century had emerged as the central cultural establishment among Boston elites. Following the American Civil War, President Charles W. Eliot's forty year tenure (1869 1909) transformed the college and affiliated professional schools into a centralized research university, and Harvard became a founding member of the Association of American Universities in 1900. James Bryant Conant led the university through the Great Depression and World War II and began to reform the curriculum and liberalize admissions after the war. The undergraduate college became coeducational after its 1977 merger with Radcliffe College. Drew Gilpin Faust was elected the 28th president in 2007 and is the first woman to lead the university. Harvard has the largest financial endowment of any academic institution in the world, standing at $27.4 billion as of September 2010. The university comprises eleven separate academic units ten faculties and the Radcliffe Institute for Advanced Study with campuses throughout the Boston metropolitan area. Harvard's 210-acre (85 ha) main campus is centered on Harvard Yard in Cambridge, approximately 3.4 miles (5.5 km) northwest of downtown Boston. The business school and athletics facilities, including Harvard Stadium, are located across the Charles River in Allston and the medical, dental, and public health schools are located in the Longwood Medical Area. As of 2010, Harvard employs about 2,100 faculty to teach and advise approximately 6,700 undergraduates (Harvard College) and 14,500 graduate and professional students.[13] Eight U.S. Presidents have graduated from Harvard and 75 Nobel Laureates have been affiliated with the university as students, faculty, or staff. Harvard is also the alma mater of sixty-two living billionaires, the most in the country. The Harvard University

Library is the largest academic library in the United States, and the second largest library in the country. The Harvard Crimson competes in 41 intercollegiate sports in the NCAA Division I Ivy League. Harvard has an intense athletic rivalry with Yale University traditionally culminating in The Game, although the HarvardYale Regatta predates the football game. 2. History 2.1 Colonial Harvard was founded in 1636 by vote of the Great and General Court of the Massachusetts Bay Colony, making it the oldest institution of higher learning in the United States. Initially called "New College" or "the college at New Towne", the institution was renamed Harvard College on March 13, 1639. It was named after John Harvard, a young English clergyman from Southwark, London, an alumnus of the University of Cambridge (after which Cambridge, Massachusetts is named), who bequeathed the College his library of four hundred books and779 pounds sterling, which was half of his estate. The charter creating the corporation of Harvard College came in 1650. In the early years, the College trained many Puritan ministers. The college offered a classic academic course based on the English university modelmany leaders in the colony had attended Cambridge Universitybut one consistent with the prevailing Puritan philosophy. The college was never affiliated with any particular denomination, but many of its earliest graduates went on to become clergymen in Congregational and Unitarian churches throughout New England. An early brochure, published in 1643, described the founding of the college as a response to the desire "to advance learning and perpetuate it to posterity, dreading to leave an illiterate ministry to the churches". The leading Boston divine Increase Mather served as president from 1685 to 1701. In 1708, John Leverett became the first president who was not also a clergyman, which marked a turning of the College toward intellectual independence from Puritanism. 2.2 Nineteenth century 2.2.1 Religion and philosophy The takeover of Harvard by the Unitarians in 1805 resulted in the secularization of the American college. By 1850 Harvard was the "Unitarian Vatican." The "liberals" (Unitarians) allied themselves with high Federalists and began to create a set of private societies and institutions meant to shore up their cultural and political authority, a movement that prefigured

the emergence of the Boston Brahmin class. On the other hand, the theological conservatives used print media to argue for the maintenance of open debate and democratic governance through a diverse public sphere, seeing the liberals' movement as an attempt to create a cultural oligarchy in opposition to Congregationalist tradition and republican political principles. In 1846, the natural history lectures of Louis Agassiz were acclaimed both in New York and on the campus at Harvard College. Agassiz's approach was distinctly idealist and posited Americans' 'participation in the Divine Nature' and the possibility of understanding 'intellectual existences.' Agassiz's perspective on science combined observation with intuition and the assumption that one can grasp the 'divine plan' in all phenomena. When it came to explaining life-forms, Agassiz resorted to matters of shape based on a presumed archetype for his evidence. This dual view of knowledge was in concert with the teachings of Common Sense Realism derived from Scottish philosophers Thomas Reid and Dugald Stewart, whose works were part of the Harvard curriculum at the time. The popularity of Agassiz's efforts to 'soar with Plato' probably also derived from other writings to which Harvard students were exposed, including Platonic treatises by Ralph Cudworth, John Norris, and, in a Romantic vein, Samuel Coleridge. The library records at Harvard reveal that the writings of Plato and his early modern and Romantic followers were almost as regularly read during the 19th century as those of the 'official philosophy' of the more empirical and more deistic Scottish school. Charles W. Eliot, president 18691909, eliminated the favoured position of Christianity from the curriculum while opening it to student self-direction. While Eliot was the most crucial figure in the secularization of American higher education, he was motivated not by a desire to secularize education, but by Transcendentalist Unitarian convictions. Derived from William Ellery Channing and Ralph Waldo Emerson, these convictions were focused on the dignity and worth of human nature, the right and ability of each person to perceive truth, and the indwelling God in each person.

2.3 Twentieth Century During the 20th century, Harvard's international reputation grew as a burgeoning endowment and prominent professors expanded the university's scope. Explosive growth in the student population continued with the addition of new graduate schools and the expansion of the

undergraduate program. Radcliffe College, established in 1879 as sister school of Harvard College, became one of the most prominent schools for women in the United States.

2.3.1 Meritocracy James Bryant Conant (president, 19331953) reinvigorated creative scholarship to guarantee its pre-eminence among research institutions. He saw higher education as a vehicle of opportunity for the talented rather than an entitlement for the wealthy, so Conant devised programs to identify, recruit, and support talented youth. In 1943, he asked the faculty make a definitive statement about what general education ought to be, at the secondary as well as the college level. The resulting Report, published in 1945, was one of the most influential manifestos in the history of American education in the 20th century. In 19451960 admissions policies were opened up to bring in students from a more diverse applicant pool. No longer drawing mostly from rich alumni of select New England prep schools, the undergraduate college was now open to striving middle class students from public schools; many more Jews and Catholics were admitted, but few blacks, Hispanics or Asians. 2.3.2 Women Women remained segregated at Radcliffe, though more and more took Harvard classes. Nonetheless, Harvard's undergraduate population remained predominantly male, with about four men attending Harvard College for every woman studying at Radcliffe. Following the merger of Harvard and Radcliffe admissions in 1977, the proportion of female undergraduates steadily increased, mirroring a trend throughout higher education in the United States. Harvard's graduate schools, which had accepted females and other groups in greater numbers even before the college, also became more diverse in the post-World War II period.

In 1999, Radcliffe College, founded in 1879 as the "Harvard Annex for Women", merged formally with Harvard University, becoming the Radcliffe Institute for Advanced Study. Drew Gilpin Faust, the Dean at Radcliffe, became the first woman president of Harvard in 2007. 2.3.3 Liberalism Harvard and its affiliates, like many American universities, are considered by some to be politically liberal (left of center). Conservative author William F. Buckley, Jr. quipped that he would rather be governed by the first 2000 names in the Boston phone book than by the

Harvard faculty, Richard Nixon famously referred to Harvard as the "Kremlin on the Charles" around 1970, and Vice President George H.W. Bush disparaged what he saw to be Harvard's liberalism during the 1988 presidential election. Republicans remain a small minority of faculty, and the University has refused to officially recognize the Harvard Reserve Officers' Training Corps (ROTC) program forcing students to commission through nearby MIT. The Harvard College Handbook explains, "Current federal policy of excluding known lesbian, gay, and bisexual individuals from admission to ROTC or of discharging them from service is inconsistent with Harvards values as stated in its policy on discrimination." In 2011, Harvard announced that it will reinstate the ROTC program, following the repeal of Don't ask don't tell. President Lawrence Summers resigned his presidency in 2006. His resignation came just one week before a second planned vote of no confidence by the Harvard Faculty of Arts and Sciences. Former president Derek Bok served as interim president. Members of Harvard's Faculty of Arts and Sciences, which instructs graduate students in GSAS and undergraduates in Harvard College, had passed an earlier motion of "lack of confidence" in Summers' leadership on March 15, 2005 by a 218185 vote, with 18 abstentions. The 2005 motion was precipitated by comments about the causes of gender demographics in academia made at a closed academic conference and leaked to the press. In response, Summers convened two committees to study this issue: the Task Force on Women Faculty and the Task Force on Women in Science and Engineering. Summers had also pledged $50 million to support their recommendations and other proposed reforms. Drew Gilpin Faust is the 28th president of Harvard. An American historian, former dean of the Radcliffe Institute for Advanced Study, and Lincoln Professor of History at Harvard University, Faust is the first female president in the university's history. 3. Administration and organization A faculty of approximately 2,160 professors, lecturers, and instructors serve as of school year 2008-09, with 6,715 undergraduate and 12,424graduate students. The school color is crimson, which is also the name of the Harvard sports teams and the daily newspaper, The Harvard Crimson. The color was unofficially adopted (in preference to magenta) by an 1875 vote of the student body, although the association with some form of red can be traced back to 1858, when Charles William Eliot, a young graduate student who would later become Harvard's 21st and longest-serving president (18691909), bought red bandanas for his crew so they could more easily be distinguished by spectators at a regatta.

Harvard has a friendly rivalry with the Massachusetts Institute of Technology, which dates back to 1900 when a merger of the two schools was frequently discussed and at one point officially agreed upon (ultimately cancelled by Massachusetts courts). Today, the two schools cooperate as much as they compete, with many joint conferences and programs, including the Harvard-MIT Division of Health Sciences and Technology, the Broad Institute, the Harvard-MIT Data Center and formerly the Dibner Institute for the History of Science and Technology. In addition, students at the two schools can cross-register in undergraduate or graduate classes without any additional fees, for credits toward their own school's degrees. 3.1 Organizations 3.1.1 Governing bodies Harvard is governed by two boards, one of which is the President and Fellows of Harvard College, also known as the Harvard Corporation, founded in 1650, and the other is the Harvard Board of Overseers. The President of Harvard University is the day-to-day administrator of Harvard and is appointed by and responsible to the Harvard Corporation. There are 16,000 staff and faculty. 3.1.2 Faculties and schools Harvard today has the following faculties, listed below in order of foundation:
(i)

The Faculty of Arts and Sciences and its sub-faculty, the School of Engineering and Applied Sciences, which together serve:

Harvard College, the university's undergraduate portion (1636) The Graduate School of Arts and Sciences (organized 1872) The Harvard Division of Continuing Education, including Harvard Summer School (1871) and Harvard Extension School (1910).

(ii) (iii) (iv) (v) (vi)

Harvard Medical School (1782) Harvard School of Dental Medicine (1867). Harvard Divinity School (1816) Harvard Law School (1817) Harvard Business School (1908)

7
(vii) Graduate School of Design (viii) (ix) (x)

(1914)

Harvard Graduate School of Education (1920)

Harvard School of Public Health (1922) Harvard Kennedy School (1936)

3.2 Endowment Harvard has the largest university endowment in the world. At the end of June 2009, it was worth $25.7 billion, about 30% less than at the same time in 2008. In December 2008, Harvard announced that its endowment had lost 22% (approximately $8 billion) from July to October 2008, necessitating budget cuts. Later reports suggest the loss was actually more than double that figure, a reduction of nearly 50% of its endowment in the first four months alone. Forbes in March 2009 estimated the loss to be in the range of $12 billion. One of the most visible results of Harvard's attempt to re-balance its budget was their halting of construction of the $1.2 billion Allston Science Complex that had been scheduled to be completed by 2011, resulting in protests from local residents. Large endowments like Harvard's have been criticized for "hoarding" money. Most philanthropies are required by federal law to distribute 5% of their assets per year, but university endowments are not required to spend anything. Many universities with very large endowments would require an expenditure of less than 5% of their endowment to cover full tuition for all their students. For example, it has been estimated that if in 2006 all the Harvard students paid the maximum in tuition and fees, it would amount to less than $300 million. In 2007, if Harvard had allocated 6% of its $34.6 billion endowment toward tuition,[56] all Harvard undergraduate and graduate students could attend for free and the university would still have $1.3 billion left over. It would require less than 1% of the endowments of Harvard and Yale to allow all students to attend tuition-free; Stanford, MIT, Princeton and Rice would require less than 2% of their endowments and 29 schools would require less than 3% for all their students to attend tuition-free. Despite the decreasing values of endowments, congressmen, including Charles Grassley, have questioned whether the endowments are contributing enough to maintain their tax-exempt status. Peter Hotez of George Washington University has claimed that pharmaceutical companies are contributing more to the poorest people than are wealthy universities.

4. Campus Harvard's 210-acre (85 ha) main campus is centered on Harvard Yard in Cambridge, approximately 3.4 miles (5.5 km) northwest of downtown Boston and extends into the surrounding Harvard Square neighborhood. Harvard Yard itself contains the central administrative offices and main libraries of the university, academic buildings including Sever Hall andUniversity Hall, Memorial Church, and the majority of the freshman dormitories. Sophomore, junior, and senior undergraduates live in twelve residential Houses, nine of which are south of Harvard Yard along or near the Charles River. The other three are located in a residential neighborhood half a mile northwest of the Yard at the Quadrangle (commonly referred to as the Quad), which formerly housed Radcliffe College students until Radcliffe merged its residential system with Harvard. The Harvard MBTA station provides public transportation via bus service and the Red Line subway. 4.1 Sustainability In 2000, Harvard hired a full-time campus sustainability professional and launched the Harvard Green Campus Initiative, since institutionalized as the Office for Sustainability (OFS). With a full-time staff of 25, dozens of student interns, and a $12 million Loan Fund for energy and water conservation projects, OFS is one of the most advanced campus sustainability programs in the country. Harvard was one of 27 schools to receive a grade of "A-" from the Sustainable Endowments Institute on its College Sustainability Report Card 2010, the highest grade awarded.

5. Academics Harvard is a large, highly residential research university. The university has been accredited by the New England Association of Schools and Colleges since 1929. The university offers 46 undergraduate concentrations (majors),134 graduate degrees, and 32 professional degrees. For the 20082009 academic year, Harvard granted 1,664 baccalaureate degrees, 400 masters degrees, 512 doctoral degrees, and 4,460 professional degrees. The four year, full-time undergraduate program comprises a minority of enrollments at the university and emphasizes instruction with an "arts & sciences focus". Between 1978 and 2008, entering students were required to complete a "Core Curriculum" of seven classes outside of their concentration. Since 2008, undergraduate students have been required to complete courses in eight General Education categories: Aesthetic and Interpretive Understanding, Culture and

Belief, Empirical and Mathematical Reasoning, Ethical Reasoning, Science of Living Systems, Science of the Physical Universe, Societies of the World, and United States in the World. Harvard offers a comprehensive doctoral graduate program and there is a high level of coexistence between graduate and undergraduate degrees. The Carnegie Foundation for the Advancement of Teaching, The New York Times, and some students have criticized Harvard for its reliance on teaching fellows for some aspects of undergraduate education; they consider this to adversely affect the quality of education. Harvard's academic programs operate on a semester calendar beginning in early September and ending in mid-May. Undergraduates typically take four half-courses per term and must maintain a four-course rate average to be considered full time. In many concentrations, students can elect to pursue a basic program or a honors-eligible program requiring a senior thesis and/or advanced course work. Students graduating in the top 4-5% of the class are awarded degrees summa cum laude, students in the next 15% of the class are awarded magna cum laude, and the next 30% of the class are awarded cum laude. Harvard has chapters of academic honor societies such as Phi Beta Kappa and various committees and departments also award several hundred named prizes annually. Harvard, along with other universities, has been accused of grade inflation, although there is evidence that the quality of the student body and its motivation have also increased. Harvard College reduced the number of students who receive Latin honors from 90% in 2004 to 60% in 2005. Moreover, the honors of "John Harvard Scholar" and "Harvard College Scholar" will now be given only to the top 5 percent and the next 5 percent of each class. Undergraduate tuition for the 20092010 school year was $33,696 and the total cost with fees, room, and board was $48,868. Under financial aid guidelines adopted in 2007, parents in families with incomes of less than $60,000 will no longer be expected to contribute any money to the cost of attending Harvard for their children, including room and board. Families with incomes in the $60,000 to $80,000 range contribute an amount of only a few thousand dollars a year. In December 2007, Harvard announced that families earning between $120,000 and $180,000 will only have to pay up to 10% of their annual household income towards tuition. In 2009, Harvard offered grants totaling $414.1 million across all 11 divisions; $339.5 million came from institutional funds, $35.3 million from federal support, and $39.2 million from other outside support. Grants total 87.7% of Harvard's aid for undergraduate students, with aid also provided by loans (8.4%) and work-study (3.9%).

10

5.1 Rankings Harvard's undergraduate program is ranked first among "National Universities" by U.S. News & World Report and eighth by Forbes. The university is ranked ninth nationally by The Washington Monthly. Internationally, Harvard is ranked first in the Times Higher Education World University Rankings and second in the QS World University Rankings. When the two lists were published in partnership between 2004 and 2009 as the Times Higher Education-QS World University Rankings, Harvard was ranked first each year. Harvard is ranked first by the Academic Ranking of World Universities (ARWU), a position it has held since the first ARWU rankings were released in 2003. In its individual subject tables, ARWU ranked Harvard first in natural sciences and mathematics, life and agricultural sciences, clinical medicine and pharmacy, social sciences, and 42nd in engineering/technology and computer sciences. In individual fields in 2010, Harvard is ranked first in Physics and Economics/Business, second in Chemistry, third in Mathematics, and ninth in Computer Science in the world. In the 2009 QS Global 200 Business Schools Report, Harvard was ranked first in North America. In 2010, according to University Ranking by Academic Performance (URAP), Harvard is the best overall university in the world. In 2010 Harvard University was, for its excellence in co-operation projects with the corporate world globally and especially in the US, chosen to be a part of the BBNM Group. They are currently represented among the BBNM Member schools. 5.2 Research

Berkman Center for Internet & Society Broad Institute of MIT and Harvard Harvard Clinical Research Institute Harvard Institute of Economic Research Harvard Ukrainian Research Institute Institute for Quantitative Social Science Laboratory for Nanomedicine (at the Harvard Medical School-affiliated Brigham and Women's Hospital)

Radcliffe Institute for Advanced Studies (one of Harvard's 14 schools)

11

Schepens Eye Research Institute W. E. B. Du Bois Institute for African and African-American Research Wyss Institute for Biologically Inspired Engineering

5.2.1 Research centers attached to schools and departments

Department of Psychology: Prosopagnosia Research Centers at Harvard University and University College London

Graduate School of Design: Center for Alternative Futures, Joint Center for Housing Studies, Center for Technology & the Environment

Harvard Law School: Charles Hamilton Houston Institute for Race and Justice, Institute for Global Law & Policy (former European Law Research Center), John M. Olin Center of Law, Economics and Business

5.2.2 Independent organizations affiliated to the university

The Forsyth Institute

5.3 Libraries and museums

The Harvard University Library System is centered in Widener Library in Harvard Yard and comprises over 80 individual libraries and over 15 million volumes. According to the American Library Association, this makes it the largest academic library in the United States, and the third largest library in the country. Harvard describes its library as the "largest academic library in the world". Cabot Science Library, Lamont Library, and Widener Library are three of the most popular libraries for undergraduates to use, with easy access and central locations. There are rare books, manuscripts and other special collections throughout Harvard's libraries; Houghton Library, the Arthur and Elizabeth Schlesinger Library on the History of Women in America, and the Harvard University Archives consist principally of rare and unique materials. America's oldest collection of maps, gazetteers, and atlases both old and new is stored in Pusey Library and open to the public. The largest collection of East-Asian language material outside of East Asia is held in the Harvard-Yenching Library. 6. Students

12

Demographics of student body Undergraduate Graduate Professional U.S. Census Black/Non-Hispanic White/Non-Hispanic Hispanic Native American 8% 42% 7% 1% 3% 9% 42% 3% 0.2% 33% 6% 12% 43% 5% 0.6% 22% 12.1% 4.3% 65.8% 14.5% 0.9% N/A Asian/Pacific Islander 17%

International Students 11%

In the last six years, Harvard's student population ranged between 19,000 and 21,000, across all programs. Harvard enrolled 6,655 students in undergraduate programs, 3,738 students in graduate programs, and 10,722 students in professional programs. The undergraduate population is 51% female, the graduate population is 48% female, and the professional population is 49% female. Undergraduate admission to Harvard is characterized by the Carnegie Foundation as "more selective, lower transfer-in". Harvard College received 27,462 applications for admission to the Class of 2013, 2,175 were admitted (7.9%), and 1,658 enrolled (76.2%).The interquartile range on the SAT was 20802370 and 95% of first year students graduated in the top tenth of their high school class. Harvard also enrolled 266 National Merit Scholars, the most in the nation. 88% of students graduate within 4 years and 98% graduate within 6 years. Harvard College accepted 6.9% of applicants for the class of 2014, a record low for the school's entire history. The number of acceptances was lower for the class of 2013 partially because the university anticipated increased rates of enrolment after announcing a large increase in financial aid in 2008. Harvard College ended its early admissions program in 2007 as the program was believed to disadvantage low-income and under-represented minority applicants applying to selective universities. However, undergraduate admissions office's preference for children of alumni policies have been the subject of scrutiny and debate as it primarily aids whites and the wealthy.

7. Alumni Among the best-known people who have attended Harvard University are American political leaders Theodore Roosevelt, Franklin Roosevelt, John F. Kennedy, Al Gore, George W. Bush

13

and Barack Obama. UN Secretary General Ban Ki-moon; philosopher Henry David Thoreau; poets Wallace Stevens, T. S. Eliot and E. E. Cummings; Facebook creator Mark Zuckerberg; Among its most famous current faculty members are economists Amartya Sen, N. Gregory Mankiw , political political scientists Robert Putnam, Joseph Nye, and Stanley Hoffmann etc. After having gone through the history of Harvard University, the schools it has under it, academics, students composition and alumni let us now study one of its prestigious school viz. The Harvard Business School to enable us to undertake a comparison with Indian Institute of Management- Ahmedabad.

8. HARVARD BUSINESS SCHOOL HBS is the graduate business school of Harvard University in Boston, Massachusetts, and is widely recognized as one of the top business schools in the world. The school offers a fulltime MBA program, doctoral programs, and many executive education programs. It owns Harvard Business School Publishing, which publishes business books, online management tools for corporate learning, case studies, and the monthly Harvard Business Review. It is ranked 2nd among U.S. business schools by U.S. News & World Report,1st by the QS Global 200 Business Schools Report, 2nd byBloomberg BusinessWeek, 3rd by Forbes, and 14th by The Wall Street Journal. Internationally, it is ranked 3rd in the world by the Financial Times, 5th in the world by The Economist, and 21st in the world by The Wall Street Journal. Three HBS professors, Mikolaj Piskorski, Zeynep Ton, and Anita Elberse, were recently named the 40 Best B-School Professors Under the Age of 40 by Poets & Quants. "HSW" is an initialism referring to the "Top Three MBA programs": Harvard, Stanford, and Wharton (University of Pennsylvania). These programs are commonly known for being on a league of their own in comparison to the rest of the MBA programs. 8.1 History Founded in 1908, HBS started with 59 students. Once it innovated the case method of research and teaching in 1920, HBS ramped up the class size which reached 500 students during the decade. In 1926, the school moved from the Cambridge side of the Charles River to its present location in Allston (part of Boston)hence the custom of faculty and students referring to the

14

rest of Harvard University as "across the river." Women were first admitted to its regular twoyear Master in Business Administration (MBA) program with the Class of 1965

8.2 Academic Programmes 8.2.1 MBA Programmes HBS offers a two-year full time MBA program, which consists of one year of mandatory courses (Required Curriculum) and one year of unrestricted course selection (Elective Curriculum). Some students are also invited to attend two three-week pre-MBA programs that take place at the end of the summer before the Required Curriculum. Admission is highly selective, with an admissions rate of 12% for the class of 2010.The student body is international and diverse, with 67% of students who are citizens of the United States. Women comprise 38% of the class of 2010.Graduates of the Harvard Business graduate with a general management degree and not a particular specialization in a field. The Required Curriculum consists of two semesters. The first semester focuses primarily on the internal aspects of the company and includes the courses Technology and Operations Management, Marketing, Financial Reporting and Control, Leadership and Organizational Behaviour, and Finance I. The second semester focuses on the external aspects and includes the courses Business, Government, and the International Economy, Strategy, The Entrepreneurial Manager, Negotiations, Finance II, and Leadership and Corporate Accountability. The Elective Curriculum can be chosen from among 96 courses. The diverse selection includes courses such as: Agribusiness, Doing Business in China, Building and Sustaining a Successful Enterprise, Managing in the Information Age, The Moral Leader, Entrepreneurship in Education Reform, Venture Capital and Private Equity, Business at the Base of the Pyramid, Consumer Marketing, Retailing, Power and Influence, Managing Medicine, Supply Chain Management, and Corporate Strategy. The students assign each course a priority and the courses are filled through a lottery system based on student priority and class availability. Elective curriculum students can also complete a field study or independent student research project in lieu of a class. Field studies allow students to work together in a team closely with faculty members to launch a product, develop a new business, or research a real world issue. Independent student research projects provide an opportunity for a student to work with a faculty member to develop deep insights on a particular topic of interest. These options allow

15

students to create a second year curriculum that is aligned with their personal and professional interests. Current MBA classes have a size of approximately 900 students, divided into ten sections (A J) of 90 students. Each section takes classes together the first year, with the intention of forming deep social bonds. At the beginning of the first year, all students are assigned to learning teams consisting of six students from different sections. These learning teams are intended to meet daily throughout the first year to prepare each day's class assignment; however, many learning teams stop meeting before the end of the second semester. Graduation rates are approximately 98%. Teaching is almost exclusively (95%) done through case teaching (also referred to as the Socratic method), where the students prepare teaching cases and discuss them in class, with a professor as moderator and facilitator. There is an Education Representative role in each section whose role it is to develop an appropriate learning environment and effective relationships between the students and faculty and between students themselves given the diversity within the section (students from a broad range of industries, undergraduate schools, ethnic backgrounds, geographies, etc.). MBA students at Harvard are graded on a curve. In most courses, the grade consists of roughly 50% class participation and 50% final exam or paper. In a few cases (primarily in the RC year), there may be a few brief exercises or a midterm that typically account for no more than 20% of final grade in a given course. The top 1520% of the class receive "1s" (instead of A's), the middle 7075% receive "2s", and the bottom 10% receive "3s". If a student receives more than a certain number of "3s" in the first semester of the Required Curriculum, he or she receives an academic warning. The student is offered help, in the form of academic counselling and tutors to improve his academic performance. The fact that most MBA students at Harvard have been at the top of their classes in undergraduate schools and high schools makes it more competitive. However, it is said that the relationships between students are not as cutthroat as rumoured and that it is quite a friendly and collaborative learning environment. 8.2.2 Academic Honours The top academic honor at HBS is the Baker Scholar designation (High Distinction), given to the top 5% of the graduating MBA class. In a typical year a Baker Scholar will have achieved "1s" in approximately 7075% of his or her course credits. Students receiving honors (top 20%) in both their first and second years are awarded the MBA degree with Distinction.

16

The student who receives the highest grades in each year of the program is awarded the Henry Ford II scholarship and is known as the Ford Scholar. Typically the student who attains this honor achieves the highest available grade in each of the eleven MBA classes during the first year of the program. Other academic distinctions include the Thomas M. and Edna E. Wolfe Award, given to recognize scholastic excellence (generally to the student with the highest grade in the class) and the Loeb prize given for the most outstanding performance in finance. Until 2005, HBS also awarded the Siebel Scholarship to each of the top five students in the first year of the program. However for reasons that were not publicised this was recently withdrawn. The school belongs to the M7 group of elite MBA programs which recognize each other as peers, consisting of Chicago Booth, Columbia, Harvard, Kellogg, MIT Sloan, Stanford, and Wharton. 8.2.3 Student life Students can join one or more of the more than 75 clubs on campus. The clubs invite speakers to campus, organize trips, social events, and help forming bonds between students of similar interests. The Student Association is the main interface between the MBA student body and the faculty/administration. It is led by a four-person Executive Committee (two Co-Presidents, CFO and COO). The decision power rests with the Senate, which is composed of one senator from each section (a total of ten), the Executive Committee, and various committees made up of section officers. Intramurals are also a major part of the student life. Basketball, flag football, volleyball and soccer are the main intramural sports that are offered The rigorous schedule of class work is often tempered by high energy social functions and perennial events such as the cross-dressing Priscilla Ball, the spring Newport Ball held at a Newport, RI, mansion, and the winter Hollidazzle Ball usually held in Boston, MA. 8.2.4 Immersion experience HBS offers immersion programs to supplement in-class room academic experience. These programs are designed to integrate educational objectives with other elements that the studentled treks offer. Through this experience, students are "immersed" in academic, cultural, and organization fieldwork around the world. The program spans an intensive five to twelve-day period during January. The programs offered in 2007-2009 were: China and Vietnam, Europe,

17

Boston (Healthcare), India, Israel, Middle East, Mexico, New Orleans, and Silicon Valley. Supplemental financial aid is available to eligible students. 8.2.5 The Arthur Rock Center for Entrepreneurship The Arthur Rock Center for Entrepreneurship was made possible through the generosity of pioneering venture capitalist Arthur Rock (MBA 51). In 2003, Rock donated $25 million to HBS to support faculty and their research, fellowships for MBA and doctoral students, entrepreneurship symposia and conferences, and new outreach efforts to extend the impact of the School's work. Excellence in the research and teaching of entrepreneurship has long been an important part of the history of HBS, and Arthur Rock has ensured that the School will continue to produce leading intellectual capital in this field for generations to come. All of HBS's work in the entrepreneurship arena is now under the umbrella of the Rock Center. 8.2.6 Business Plan Contest The HBS Business Plan Contest is jointly sponsored by HBS's Arthur Rock Center for Entrepreneurship, the HBS Entrepreneurship Club and the Social Enterprise Club. The contest consists of the "traditional" for-profit track and the "social enterprise" track, for those plans with an explicitly social agenda. Teams are required to contain at least one current HBS student in the MBA program. All teams that meet the entry criteria are eligible for reimbursement of up to $1,000 for basic costs associated with preparing their plans. The winner of the traditional track contest wins the Dubilier Prize, including $25,000 in cash, $25,000 of in-kind (legal and accounting) services, and free office space in Cambridge for 100 days. The winner of the social enterprise track also receives the Peter M. Sacerdote Prize, including $25,000 in cash and $25,000 in-kind services. Three runners-up from the traditional track each receive the SatchuBurgstone Entrepreneurship Award, including $10,000 in cash and $10,000 in-kind services. One runner up from the social enterprise track receives $10,000 in cash and $10,000 in-kind services. In certain cases, a "specialty plan" prize may be awarded to a plan in the traditional track that may simply require less capital and be targeting a smaller market, if such a plan is not already among the winners. These winners also receive $10,000 in cash and $10,000 inkind services. The contest is now in its 12th year and has had a number of prominent companies among its winners, including Bang Networks in 2000. 8.2.7 The Healthcare Initiative

18

The Healthcare Initiative at HBS is a multidisciplinary program dedicated to innovative thinking in the healthcare industry. Launched in 2005, the Initiative brings together the extensive research, thought leadership, and interest in the business and management of healthcare that exists at HBS. The core strengths of HBS, its general management and leadership-focused MBA program, its case method of teaching, and its global reach-coupled with the industry focus provided through the Healthcare Initiative, result in superior educational and career opportunities for aspiring leaders in the healthcare industry. In addition to the Healthcare Initiative, the student-run Healthcare Club is the second largest and most active club at HBS. The mission of the Healthcare Club is to provide a forum for students to learn about the business of healthcare, to interact with other students who are interested in healthcare, and to meet with leaders and key decision makers in the healthcare industry. 8.2.8 The Global Initiative Established in 1996, the Global Initiative builds on a legacy of global engagement by supporting the HBS community of faculty, students, and alumni in their work, encouraging a global outlook in research, study, and practice. With its rich heritage of global leadership in management education and research, HBS is deeply rooted in the international economy. Working closely with companies, universities, and governments, the School and its faculty help shape the perspective, knowledge, and insight of managers throughout the world. To facilitate faculty research and case development on an international scale, HBS furthered its impact by establishing six Global Research Centers in key regions around the world: AsiaPacific (Hong Kong and Japan), Europe, India, Latin America, and California. The Global Research Centers strengthen faculty connections with businesses, people, and ideas beyond our borders. This far-reaching network not only is unprecedented in higher education, but also is a vital element in the creation of the School's intellectual capital. At any given time HBS researchers are active in more than 40 countries. 8.2.9 The Leadership Initiative A research-based initiative that bridges the gap between leadership theory and practice, the Leadership Initiative at Harvard Business School was created as a catalyst to achieve the School's mission "to educate leaders who make a difference in the world." Since its inception, HBS has been committed to shaping business leaders with the integrity and capabilities to build

19

world-class organizations. Today, the Leadership Initiative seeks to ensure that HBS remains at the forefront of leadership research and development for the 21st century and beyond. 8.2.10 The Social Enterprise Initiative Grounded in HBS's mission to educate leaders who make a difference in the world, the Social Enterprise Initiative aims to inspire, educate, and support current and emerging leaders in all sectors to apply management skills to create social value. Through an integrated approach to social enterprise-related teaching, research, and activities at HBS, the Social Enterprise Initiative engages with leaders in the non profit, forprofit, and public sectors to generate and disseminate practicable resources, tools, and knowledge with the ultimate goal of bettering society. The Social Enterprise Initiative's strategic objectives range from building the world's best faculty dedicated to social enterprise research and teaching to providing learning experiences that not only increase the effectiveness of social-sector executives, but also tap into the potential for social value creation among our entire community of students and alumni. The Initiative was formed in 1993 by former Dean John H. McArthur and interested faculty and staff with the initial support of John C. Whitehead (MBA '47), whose career has spanned leadership positions in the private, forprofit, and non profit sectors. Subsequent support from numerous alumni has enabled the Social Enterprise Initiative to flourish at the School. The impact of the Social Enterprise Initiative has manifested itself in a number of areas. At HBS, these range from the participation of more than 75 faculty members in social enterprise research and teaching, to the creation of over 400 social enterprise cases and teaching notes by HBS faculty. Social enterprise perspectives are integrated into a broad range of classes and case discussions, reflecting a real-world blending of business and social issues, and courses focusing on social enterprise are incorporated into the curriculum. Additionally, HBS offers a number of career development programs designed to support students and alumni engaged professionally in the social sector. 8.3 Doctoral Programmes The mission of HBS's Doctoral Programs is to develop outstanding scholars for careers in research and teaching at leading business schools and universities. Flexibility in learning, independence in study, research with deep impact, notable faculty who are leaders in their

20

fields, and the finest resources in academiathese qualities enable Harvard Business School to offer highly regarded doctoral programs. To ensure a solid foundation in management, all students (without an MBA degree) are required to take at least five courses in the MBA curriculum. A deep knowledge of management practicenot only in general, but also specific to a student's area of specialization is a critical component of business doctoral education. These courses provide a valuable source of research topics and institutional knowledge that will be important for future research and teaching success in business schools. At the same time, a broad knowledge of business ensures that students fully appreciate the interdependencies and complexity of management problems and may introduce them to the possibility of interdisciplinary research. All students are admitted for full-time degree programs, beginning in September. Students, however, may begin the program in July, conducting research with an HBS faculty member. A minimum of two years in residence is required, and it is expected that students will complete their program in four to five years. Students typically spend two to two-and-a-half years on course work, and another two years on their dissertation. For more information, please see the PhD in Management section.

8.4 Executive Education In addition to Master's and Doctoral degrees, HBS offers certificate executive programs which confer alumni status to graduates:

the Advanced Management Program (AMP), the flagship eight-week intensive course for senior board-level executives.

the General Management Program (GMP), which combines campus and distance learning and is intended for middle managers; and

the Owner/President Management Program (OPM), a part-time, multi-year program for Owner/President entrepreneurs, for which HBS explains that "admission is a selective process based on professional achievement and organizational responsibility" and clarifies that the criteria is "professionals who have demonstrated business talent and leadership potential"

21

Other Executive Education programs at HBS also award certificates to attendees, but unlike those above do not confer alumni status (an exception is the Program for Leadership Development, which also confers HBS alumni status if ten extra days of HBS executive education are completed). 8.5 Campus The HBS campus is located in Allston, across the Charles River from the main Harvard campus in Cambridge. Many of the buildings have red-brick exteriors, as do many buildings in Harvard Yard. HBS maintains a number of facilities, including a sports center and The Class of 1959 Chapel, that are dedicated for the exclusive use of its community. A series of underground tunnels connects the basements of nearly every building on the campus, with the noticeable exception of the more recent student housing facilities that are SFP (Soldier Field Park) and OWA (One Western Avenue) buildings. Spangler Hall is widely considered HBS' main building with student lounges, meeting rooms, administrative offices and dining facilities. Most classrooms are located in Aldrich and Hawes, most of which are 100-student "amphi-theatre" rooms with approximately five rows in a half circle. This design facilitates the teaching of the case method. Baker Library was reopened in 2005 after several years of renovation. The new building features student study spaces and faculty offices. The fitness center is located in Shad Hall, across from Morgan Hall, which houses the majority of the faculty. Shad Hall is also the location of the Computer Lab for Experimental Research (CLER) where many business research studies are conducted. Closest to Charles River are MacArthur Hall and Baker Hall, which accommodate the Executive Education programs, and several student dormitories. 8.6 Academic Units The school's faculty are divided into ten academic units: Accounting and Management; Business, Government and the International Economy; Entrepreneurial Management; Finance; General Management; Marketing; Negotiation, Organizations & Markets; Organizational Behavior; Strategy; and Technology and Operations Management. 8.7 Admissions HBS looks for candidates who exhibit leadership potential, capacity for intellectual growth, and the drive to make a difference in their communities. The school aims to attract students

22

representing a wide range of interests, perspectives and experiences as reflected by its highly diverse student body. Each year, students representing more than seventy countries and a wide range of backgrounds - ranging from professional sports, medicine and military to consulting and investment banking - are selected at HBS. To be considered for admission, a candidate must submit the following:

Graduate Management Admission Test (GMAT) or GRE scores Responses to the application essay questions Resume Recommendations Undergraduate academic transcript TOEFL or IELTS score, if applicable Non refundable U.S. $250 application fee (College seniors pay a reduced fee of $100) There is no minimum work experience required, though work experience is highly A four-year undergraduate degree is required for admission

recommended to gain successful admission

HBS offers joint degree programs with several other Harvard schools, including Harvard Law School and the John F. Kennedy School of Government.

8.8 Donor Programmes In 2010, the Tata Group gave HBS its biggest ever international donation of $50 million. A new academic and residential building will be built and called Tata Hall.

8.9 Alumni Following is a list of some of the names of notable alumni of HBS.

A. Sivathanu Pillai, '91 - CEO and MD of the BrahMos Aerospace and Chief Controller David Viniar, '80 - CFO and Executive Vice President of Goldman Sachs Fritz Henderson, former President and Chief Executive Officer of General Motors

of the DRDO, India.


23

Jeffrey Immelt, '82 - Chairman and CEO of General Electric Michael Lynton, '87 - Chairman and CEO of Sony Pictures Entertainment P Chidambaram, '68 - Union Minister of Home Affairs, India Rahul Bajaj, '62 - CEO of Bajaj Auto Ratan Tata, '75 - Chairman and CEO Tata Sons Robert McNamara - former Secretary of Defense and former President of the World Y C Deveshwar, - Chairman and Chief Executive Officer of ITC Limited

Bank

9. THE INDIAN INSTIUTES OF MANAGEMENT The Indian Institutes of Management (IIMs), are graduate business schools in India, set up by the Government of India, with the aim of identifying the brightest intellectual talent available in the country and training them by the best management techniques available in the world, to ultimately create a pool of elite managers to manage and lead the various sections of the Indian economy. The IIMs are considered the top business schools in India. All the IIMs are completely autonomous institutes owned and financed by the Central Government. The IIMs have achieved a worldwide reputation as institutions offering a very high quality business education. IIMs are societies established under various Societies Registration Acts, some under the central act and others under State societys acts. Each Society has a Memorandum of Association (MOA) and Rules. The MOA lays down the objects for which the Society was established, and the Rules provide the system of governance of the IIM. The general superintendence, direction and control of the affairs of the Society and its income and property are vested in the Board of Governors or the Board. The MOA also contains certain specific powers of the Central Government in respect of the Society. The first IIM established was, IIIM Kolkata, followed by IIM Ahmedabad, IIM Bangalore and others. At present there are 13 IIMs in India spread across various regions of the country. These IIMs are : (1) IIM Kolkata

24

(2) IIM Ahmedabad (3) IIM Bangalore (4) IIM Lucknow (5) IIM Kozhikode (6) IIM Indore (7) IIM Shillong (8) IIM Ranchi (9) IIM Rohtak (10) IIM Raipur (11) IIM Udaipur (12) IIM Tiruchirappalli (13) IIM Kashipur Indian Institute of Management- Ahmedabad Indian Institute of Management, Ahmedabad (IIMA) was set up by the Government of India in collaboration with Government of Gujarat and Indian Industry as an autonomous Institute in 1961. Rated as Indias best and Asias foremost Business School, IIMA continues to be ranked as one of the finest institutions in the world. IIMAs mission is to help India and other developing countries improve their managerial practices both in the private and in the public sector, and adopt superior public policies. It seeks to do this through producing risk-taking leader-mangers who will pioneer new managerial practices and set new standards, through producing teachers and researchers who will generate new idea of international significance, and through purposeful consulting aimed at helping client organizations scale new heights. The IIMs have a common entrance examination CAT and then, each IIM conducts separate interviews of the students who qualify in the CAT.

25

9.1 ORGANISATIONAL STRUCTURE OF IIM-A

9.2 Organisational Strategy at Academic Level IIM-A conducts its academic programmes through a number of clearly defined groups called Areas. They consist of faculty members with broadly similar disciplinary backgrounds, teaching, and research interests. Each faculty member has primary membership in an Area but may, in addition, take secondary membership in other Areas. The chairperson of the Area coordinates the various activities related to developing and running academic programs. At present IIMA has the following Areas & Groups:
(1) Business Policy (2) Communications (3) Computer and Information Systems Group (4) Economics (5) Finance and Accounting

26 (6) Marketing (7) Organizational Behaviour (8) Personnel and Industrial Relations (9) Production and Quantitative Methods (10)

Public Systems Group

9.3 Academic Programmes The Institute offers six academic programmes, which are as follows : 9.3.1 Fellow Programme in Management (FPM) equivalent to Ph.D The Fellow Programme in Management (FPM) is the doctoral programme of the Indian Institute of Management, Ahmedabad. The objective of the programme is to provide students with necessary skills to identify and research complex issues in the field of management. FPM is a research programme. The doctoral programme graduated its first student in 1974 and since then more than two hundred and twenty one doctoral students have been conferred with the title, Fellow of the Indian Institute of Management Ahmedabad. IIMAs doctoral programme provides a diverse set of opportunities for interdisciplinary education and research. Candidates must possess one of the following qualifications to apply for IIMAs Doctoral Programme:
(1) A Masters Degree in any discipline, with at least 55 percent marks, with a Bachelors

degree/ equivalent qualification with at-least 50 percent marks obtained after a minimum of three years of education after completing higher secondary schooling (10+2) or equivalent, or
(2) Five year/four year Integrated Masters Degree programme in any discipline, with

atleast 55 percent marks, obtained after completing higher secondary schooling (10+2) or equivalent, or
(3) A professional qualification like CA, ICWA, CS, with at least 55 percent marks, or (4) A 4-year/8-semester Bachelors degree with at least 60 percent marks or equivalent

grade point average.

27

The candidate must hold a Bachelors/Masters degree of any of the universities incorporated by an Act of the Central or State Legislature in India or other educational institutions established by an act of parliament or declared to be deemed as a university under section 3 of UGC Act, 1956, or possess an equivalent qualification recognized by the Ministry of HRD, Government of India, or possess an equivalent qualification from an institution approved by AICTE. Those in their final year of Masters or Bachelors degree (B.E / B. Tech) in any discipline can also apply. Applicants are evaluated on their past academic achievements, motivation and preparation for the programme, letters of recommendation, scores on standard tests, and a personal interview with the faculty. No tuition fee is charged for Indian students. Selected candidates will get a monthly stipend of Rs.18,000/- per month for the first and second year, Rs. 19,000 per month after clearing the comprehensive exam and Rs. 20,500 per month after submission of the TAC approved thesis proposal. Over and above this, a Contingency Allowance of Rs. 25,000 per year (for five years) to cover research expenses, expenses on books, photocopying etc. and reimbursement of international conference upto Rs. 1,75,000 are also available to all students. An additional allowance of Rs. 50,000 is provided to enable students to purchase their own personal computer. However, the fee for overseas candidate is $ 18,000 for the first year and $ 19,000 per year for the remaining years. The selected students, are provided an excellent environment for carrying out advanced research, thus creating highly committed researchers trained in the most recent methodologies and engaged in producing original research work. The small entering class ensures close interaction with the faculty, where students can determine their own directions under the guidance of their thesis advisory committees. The student becomes part of one of the ten functional/sectoral groups and acquires the basic theoretical knowledge and practical aspects of the area. The programme is strongly committed to preparing thought leaders both for the academic and corporate world. Students spend generally a little over four years that includes two years of rigorous course work. Course work in the first year provides a general management overview and develops basic skills for analyzing managerial problems. In the second year, students take advanced doctoral level courses in their areas of specialization. The doctoral dissertation, for the next

28

couple of years, provides them with an opportunity to make original contribution to an area of management or to one of its source disciplines. In the past, Fellows from IIMA have been placed in: Indian educational institutions such as IIMs and other leading management institutes and universities around the world as faculty members. Domestic and foreign multinational companies and donor agencies, such as ICICI, TCS, AT Kearney, Infosys, GTZ, PricewaterhouseCoopers, etc., for consulting and management positions. 9.3.2 Post-Graduate Programme in Management (PGP) equivalent to MBA The two-year full-time Post-Graduate Programme in Management (PGP), rated as the toughest MBA programme in the world to get admission, is the flagship programme of IIMA. Its main objective is to develop young men and women into competent professional managers, capable of working in any sector of organized activity, proceeding leadership and achieving excellence in performance while contributing to the welfare of the larger society. Consistently recognized as one of the leading MBA programs in the world, this is the most prestigious long-duration program of IIMA. The programme specifically attempts to:
(1) Equip students with the required conceptual and interpersonal skills and sense of social

purpose for managerial decision-making,, develop leadership capabilities to act as change agents and be a source of motivation in the organizations they work in,
(2) Nurture the desire to excel in performance without compromising integrity, honesty and

fairness.

29

PGP

Student

Strength

30

The program, through high-impact pedagogical methods, helps the participants to develop themselves into top-quality decision makers with analytical rigor, conceptual foundations and interpersonal and social skills, built on values of honesty, integrity and a sense of fairness. The participants learn to think through managerial issues and decisions in complex, less-structured situations in holistic and multi-disciplinary perspectives to generate and evaluate alternatives and arrive at innovative solutions. In-class discussions, group preparation and presentations, field research and project work prepare the participants to meet the challenges of the managerial profession. Different co-curricular and extra curricular activities organized by the participants themselves sharpen their organizing abilities, nurture their leadership qualities and polish their social skills. The PGP of IIMA helps participants to transform themselves into leaders of organizations and change agents of society. 9.3.3 Post Graduate Programme in Agribusiness Management (PGP-ABM) equivalent to MBA The Two-Year Post-graduate Programme in Agri-business Management (PGP-ABM) is designed to transform dynamic and determined individuals into excellent managers, to meet the unparalleled demands on their capabilities as posed by the increasingly challenging food, rural and allied sectors. The candidates applying for PGP-ABM must be
(1) a Bachelors or Masters Degree in Agriculture Sciences or in Agriculture-related

disciplines, with at least 50% marks or equivalent CGPA (45% in case of the candidates belonging to Scheduled Caste (SC)/ Scheduled Tribe(ST), Persons with Disability

31

Category (DA) category of any of the Universities incorporated by an act of the central or state legislature in India or other educational institutions established by an act of Parliament or declared to be deemed as a University under 3 of UGC Act, 1956, or possess an equivalent qualification recognized by the Ministry of HRD, Government of India. The Bachelors Degree or equivalent qualification obtained by the candidate must entail a minimum of three years of education after completing higher secondary schooling (10+2) or equivalent, or
(2) a Bachelors degree or equivalent qualification in any non-Agriculture discipline from a

University or Institution as defined in the above paragraph and have an interest in Agriculture, Agro/Food Processing, Rural and Allied sectors. The Bachelors Degree or equivalent qualification obtained by the candidates must entail a minimum of three years of education after completing higher secondary schooling (10+2) or equivalent.

Number of Applicants

The IIMA Post Graduate Programme in Agribusiness Management (PGP-ABM) aims to contribute to the quality of management in the food, retail, microfinance and agribusiness sector and to help the sector meet the challenges of the evolving global marketplace in the 21st century. The goal of this unique sector-specific programme is to prepare professional managers, decision-makers and leaders for the agriculture, food, agribusiness, rural, and allied sectors, providing them solid foundations in general management and sector-specific aspects of the agri-food chains that will help them to play a variety of roles during their professional careers. Post Graduates and Fellow Programmes Student strenght

32

9.3.4 One Year Post-Graduate Programme in Management for Executives (PGPX) PGPX is a full time residential programme for executives with substantial work experience leading to a One Year Post-Graduate Diploma in Management for Executives. The design of PGPX is built on the Institute's well established experience of designing and running postgraduate management programmes for exceptionally bright students and a wide range of executive education programmes for practicing managers from many countries. The objective of the programme is to develop bright, enthusiastic and aspirational executives into management leaders and change agents in the global arena. The programme has a general management focus, with emphasis on managing across borders and cultures. It has an international project (called International Immersion) besides teaching content drawn from many countries. International Immersion is a learning segment which is globally-networked, geographically-boundless and universally-grounded. The partner schools are : University of British Columbia, Columbia Business School, Boston University, Warwick Business School, Frankfurt School of Finance & Management, Amsterdam Business School, Chinese University of Hong Kong, University of Leeds, Gordon Institute of Business Science, and Fudan University. The programme is open to executives of all nationalities. Within five years of its launch, PGPX programme has been ranked 11th in the world by Financial Times. Executives who have a bachelor's degree or equivalent in any discipline and are 27 or above at the start of the programme may apply. Corporate sponsorship is welcome but not essential. Students are selected through a rigorous admissions process that includes GMAT

33

scores, leadership profiling and personal interview. The fee for PGPX is Rs.21,00,000 and this includes tution fee, books, course material, library, computing and networking charges, placement, international immersion, food and stay. 9.3.5 Post Graduate Programme in Public Management and Policy (PGP-PMP) PGP-PMP is a full-time residential programme, with about 800 contact or equivalent hours of engagement, was started in 2007-08, with a sharp focus on governance and policy formulation and implementation, infrastructure development, and public enterprise management. It has been designed to sharpen the skills and broaden the perspectives of civil servants; managers of government, public enterprises, NGOs, and executives of private sector firms engaged in public management. The programme is open to bright and motivated mid-career managers as well as administrators/ professionals of NGOs and people with legislative experience of all nationalities who intend taking up challenging top management positions in governance, public management and policy. The programme has strong foundations in the conceptual and analytical dimensions of management and policy, and the curriculum is also designed to build on the experience of participants. 9.3.6 Faculty Development Programme (FDP) The Faculty Development Programme (FDP) is a four-month, residential programme, specially designed for faculty members of management education and training institutes. The first FDP was offered in 1979. The programme simply aims at developing the pedagogical and research skills of the participants. A package of compulsory courses enhances teaching and research capabilities, and a set of elective courses improve the knowledge of the participants in areas of their interest. The FDP Alumni network has 594 members, including 76 management teachers from Nepal, Bangladesh, Maldives, Sri Lanka and Ethiopia. These members have been contributing significantly to the improvement of the quality of management education. Participants should have post-graduate level teaching experience or industrial/research experience of at least two years. Considerations for selecting participants include teaching and/or research experience, level of preparedness for the programme as indicated by educational qualifications, and statements of purpose and anticipated benefits to sponsors. The programme fee is Indian Rupees 1,25,000, payable by the sponsoring institution. For participants from other countries and non-resident Indians, the fee is US$ 5,500, or its equivalent.

34

PERSONNEL

9.4 Faculty The faculty is the principal driver of change through their direct involvement in every aspect of the Institute: academics, governance, research, and consultancy. IIM-A has a rich faculty with diverse backgrounds to install in the students a continuous desire to achieve excellence. IIMAs faculty involves with public and private organizations internationally bringing relevant managerial issues into the classroom and in their research. This creates an exceptional environment for developing a research programme that can build sound theory for analyzing complex managerial problems. IIMA faculty members are active and regular participants in international conferences and symposia. They contribute to international journals and collaborate with a broad range of agencies to develop and execute consultancy projects. Faculty members serve on executive committees and policy formulation boards of a rich variety of organizations in both private and public domains. These include corporations, financial institutions, cooperative societies, NGOs, academic institutions and international agencies such as FAO, World Bank, and WTO. 9.5 Research and Publications Research constitutes an important academic activity at the Institute. Funding for research projects classified as large, small, or seed money depending on quantum of funding and other support is provided by the Institute. Case writing is another important activity funded by the Institute. Publications in various forms books, monographs, papers in journals, cases result from these research projects. Interdisciplinary research by the faculty feeds directly into an

35

enhanced learning environment at the Institute and indirectly to a wider audience of practicing managers and teachers of management. A high degree of attention is paid to the relevance, breadth, and depth of research. Focus areas have included social marketing, productivity, womens issues, human resource development, optimization models, organizational learning, institution building, management and leadership excellence, and public sector management. Several projects are commissioned and funded by national and international organizations such as the Ford Foundation, UNO, World Bank, NCERT, Planning Commission, Central and State ministries, and industrial agencies. The Institute has a Research and Publications Committee which is responsible for the formulation of the overall policies governing the Institute's research and publications activities. The Committee undertakes processing of research and publications proposals submitted by faculty members or referred to the Committee by the Institute and recommends financial and other forms of assistance for projects. The Committee would not only scrutinize and critically appraise proposals but also help researchers wherever possible with suggestions for improving their project proposals and plans. The Chairman is responsible to the Director for the development of research activities at the Institute. The Research and Publications Committee prepares an Annual Report on the total research activity at the Institute during the year including case research and seminar research. The Institute has set up a number of sector or mission oriented thrust groups termed Research Centres to extend the use of management science to other sectors of the economy. Considerable focused research and other academic work in the Institute is done by centres that are created for the purpose. The existing centres include the Centre for Management of Agriculture (CMA); Centre for Infrastructure Policy and Regulation (CIPR); Centre for Management of Health Systems (CMHS); IIMA IDEA Telecom Centre of Excellence (IITCOE); Gender Research Centre (GRC); Centre for Electronic Governance (CEG); Centre for Innovation, Incubation, and Entrepreneurship (CIIE), and Centre for Retailing. These centres, are magnificently active and undertakes significant amount of research and academic work.

Ongoing Research Projects, 2010

36

Cases, Research and Consulting

9.6 Resources The Vikram Sarabhai Library is an invaluable resource for students, researchers and faculties of business and management. The library has over the years built a robust collection of over 1,73,285 books, 42,004 bound volumes, 1031 current subscription to journals and news papers, 2231 working papers, and many other resources like thesis (265), student's project reports (1712), CDs (1892) and videos (128). The library subscribes to a number of company and industry databases, bibliographic databases, and E-journals to provide latest scholarly

37

information to users. The library has been publishing two quarterly information bulletins since 1998 : Current Contents in Management, Marketing and Current Index of Management, Marketing. 9.7 Placements Year after year, IIMA has maintained an unbeaten placement record. The hundred per cent, high quality placements even in recession years, truly make the placement record at IIMA an extremely difficult one to break. IIMA has always taken the lead among Indian B-schools in helping students as well as recruiters get the best placements. Placements at the Institute are handled by the Student Placement Committee under the supervision of the faculty, through a process that optimizes the interests of both the students and the companies. There are three main placement activities on campus Summer Recruitments for the first year students, and Lateral and Final Recruitment for the final year students.

PGP PLACEMENTS Foreign and Domestic Offers and Acceptances

38

Sector/Function wise Placements

Sector wise Top Recruiters

39

Compensation Details

PGPX PLACEMENTS

Industry Wise Break-up

40

PGP-PMP PLACEMENTS

Industry Wise Break-up

9.8 ALUMNI CENTRE ACTIVITIES

41

Alumni are one of the major assets of the Institute. With an active membership of around 27000, the Institute has one of the largest networks of alumni. The role of the Alumni Centre is to keep the network active by informing members about events and activities at the Institute and about the achievements, news, and events of the alumni and IIMA community. The centre maintains an exclusive website for alumni: iimaalumni.org. The alumnus magazine IIMA Alumnus is a major medium to keep in touch with alumni members. Every year, three issues are published in February, June, and October. 10. A Comparative study of Harvard Business School & Indian Institute of ManagementAhmedabad 10.1 HARVARD BUSINESS SCHOOL PROGRAMMES 10.1.1 MBA PROGRAMME A programme educating future leaders for a diverse world begins who bring different experiences, interests, and ambitions to HBS. HBS offers a two-year full time MBA program, which consists of one year of mandatory courses (Required Curriculum) and one year of unrestricted course selection (Elective Curriculum). Some students are also invited to attend two three-week pre-MBA programs that take place at the end of the summer before the Required Curriculum. Admission is highly selective, with an admissions rate of 12% for the class of 2010. The student body is international and diverse, with 67% of students who are citizens of the United States. Women comprise 38% of the class of 2010. Graduates of the Harvard Business graduate with a general management degree and not a particular specialization in a field. The Required Curriculum consists of two semesters. The first semester focuses primarily on the internal aspects of the company and includes the courses Technology and Operations Management, Marketing, Financial Reporting and Control, Leadership and Organizational Behaviour, and Finance I. The second semester focuses on the external aspects and includes the courses Business, Government, and the International Economy, Strategy, The Entrepreneurial Manager, Negotiations, Finance II, and Leadership and Corporate Accountability.

10.1.2 Academic Honours

42

The top academic honor at HBS is the Baker Scholar designation (High Distinction), given to the top 5% of the graduating MBA class. In a typical year a Baker Scholar will have achieved "1s" in approximately 7075% of his or her course credits. Students receiving honors (top 20%) in both their first and second years are awarded the MBA degree with Distinction. 10.1.2 Immersion experience HBS offers immersion programs to supplement in-class room academic experience. These programs are designed to integrate educational objectives with other elements that the studentled treks offer. Through this experience, students are "immersed" in academic, cultural, and organization fieldwork around the world. The program spans an intensive five to twelve-day period during January. The programs offered in 2007-2009 were: China and Vietnam, Europe, Boston (Healthcare), India, Israel, Middle East, Mexico, New Orleans, and Silicon Valley. Supplemental financial aid is available to eligible students. 10.1.3 The Arthur Rock Center for Entrepreneurship The Arthur Rock Center for Entrepreneurship was made possible through the generosity of pioneering venture capitalist Arthur Rock (MBA 51). In 2003, Rock donated $25 million to HBS to support faculty and their research, fellowships for MBA and doctoral students, entrepreneurship symposia and conferences, and new outreach efforts to extend the impact of the School's work. 10.1.4 Business Plan Contest The HBS Business Plan Contest is jointly sponsored by HBS's Arthur Rock Center for Entrepreneurship, the HBS Entrepreneurship Club and the Social Enterprise Club. The contest consists of the "traditional" for-profit track and the "social enterprise" track, for those plans with an explicitly social agenda. Teams are required to contain at least one current HBS student in the MBA program.

10.1.5 The Healthcare Initiative

43

The Healthcare Initiative at HBS is a multidisciplinary program dedicated to innovative thinking in the healthcare industry. Launched in 2005, the Initiative brings together the extensive research, thought leadership, and interest in the business and management of healthcare that exists at HBS. The core strengths of HBS, its general management and leadership-focused MBA program, its case method of teaching, and its global reach-coupled with the industry focus provided through the Healthcare Initiative, result in superior educational and career opportunities for aspiring leaders in the healthcare industry. 10.1.6 The Global Initiative Established in 1996, the Global Initiative builds on a legacy of global engagement by supporting the HBS community of faculty, students, and alumni in their work, encouraging a global outlook in research, study, and practice. To facilitate faculty research and case development on an international scale, HBS furthered its impact by establishing six Global Research Centers in key regions around the world: Asia-Pacific (Hong Kong and Japan), Europe, India, Latin America, and California. The Global Research Centers strengthen faculty connections with businesses, people, and ideas beyond our borders. This far-reaching network not only is unprecedented in higher education, but also is a vital element in the creation of the School's intellectual capital. At any given time HBS researchers are active in more than 40 countries. 10.1.7 The Leadership Initiative A research-based initiative that bridges the gap between leadership theory and practice, the Leadership Initiative at Harvard Business School was created as a catalyst to achieve the School's mission "to educate leaders who make a difference in the world." Since its inception, HBS has been committed to shaping business leaders with the integrity and capabilities to build world-class organizations. Today, the Leadership Initiative seeks to ensure that HBS remains at the forefront of leadership research and development for the 21st century and beyond.

10.1.8 The Social Enterprise Initiative

44

Grounded in HBS's mission to educate leaders who make a difference in the world, the Social Enterprise Initiative aims to inspire, educate, and support current and emerging leaders in all sectors to apply management skills to create social value. Through an integrated approach to social enterprise-related teaching, research, and activities at HBS, the Social Enterprise Initiative engages with leaders in the non profit, forprofit, and public sectors to generate and disseminate practicable resources, tools, and knowledge with the ultimate goal of bettering society. The Social Enterprise Initiative's strategic objectives range from building the world's best faculty dedicated to social enterprise research and teaching to providing learning experiences that not only increase the effectiveness of social-sector executives, but also tap into the potential for social value creation among our entire community of students and alumni. 10.1.9 Doctoral Programmes The mission of HBS's Doctoral Programs is to develop outstanding scholars for careers in research and teaching at leading business schools and universities. Flexibility in learning, independence in study, research with deep impact, notable faculty who are leaders in their fields, and the finest resources in academiathese qualities enable Harvard Business School to offer highly regarded doctoral programs. These courses provide a valuable source of research topics and institutional knowledge that will be important for future research and teaching success in business schools. At the same time, a broad knowledge of business ensures that students fully appreciate the interdependencies and complexity of management problems and may introduce them to the possibility of interdisciplinary research. 10.1.10 Executive Education In addition to Master's and Doctoral degrees, HBS offers certificate executive programs which confer alumni status to graduates:

the Advanced Management Program (AMP), the flagship eight-week intensive course for senior board-level executives.

the General Management Program (GMP), which combines campus and distance learning and is intended for middle managers; and

the Owner/President Management Program (OPM), a part-time, multi-year program for Owner/President entrepreneurs, for which HBS explains that "admission is a selective

45

process based on professional achievement and organizational responsibility" and clarifies that the criteria is "professionals who have demonstrated business talent and leadership potential" 10.2 INDIAN INSTITUTE OF MANAGEMENT-AHMEDABAD PROGRAMMES 10.2.1 Post Graduate Programme in Management IIMA also offer PGP students the opportunity to achieve a dual-degree programme. Current dual-degree partners are ESSEC Business School, HEC Paris and Bocconi University. Dualdegree students end up getting the post graduate degree in management from IIM Ahmedabad along with the regular degree from the partner institution. They become alumni from both institutions and can take part into the placement programme of their choice, either IIMA's or the partner's. Incoming students from partner universities value IIMA's placement process, which allowed some of them to get prestigious summer internship or job opportunities. 10.2.2 Post Graduate Programme in Management for Executives The one year Post Graduate Programme in Management for Executives (PGPX) is a one year full time program equivalent to an MBA. The PGPX program debuted at the 11th position in the FT global MBA rankings - 2011. It has been conceived to sharpen the skills of bright and aspiring executives, with work experience, to help them evolve as management leaders and change agents in the global arena. With a general management orientation and an emphasis on international exposure and global business skills, the one year full time residential programme is ideal for mid-level managers.

10.2.3 Post Graduate Programme in Agri-Business Management The Post Graduate Programme in Agri-Business Management (PGP-ABM) is equivalent to an MBA. It is a unique programme specially designed to enhance the quality of management in the food and agribusiness sector; its purpose is to help this sector meet the challenges of the evolving market place.

10.2.4 Fellow Programme in Management The Fellow Programme in Management is the PhD program of IIMA. The objective of the programme is to provide students with the necessary skills to identify and research complex

46

issues in the field of management. The programme offers research training in ten areas of specialization. The student becomes a part of one of these sentinel groups and acquires the fundamental theoretical knowledge as well as the practical aspects of the area. The programme is strongly committed to preparing faculty who shape the managers of the future. However, in the recent years a good number of participants have taken up industry and research jobs outside academic institutions. The lure of large salaries, higher positions, and faster growth in the industry has propelled this trend. 10.2.5 Faculty Development Programme The Faculty Development Programme is specially designed for teachers, researchers and industrial organizations for their management education requirements. Since the first course, that was offered in 1979, the programme has been continuously modified and restructured to address new developmental needs of management educators. Every year, hundreds of sponsored participants enhance their skills and update their pedagogical tools. They practice and share their new learning with thousands of students, slowly bringing about a major qualitative change in academics and practice 10.2.6 Management Development Programme For every academic year, more than 40 MDPs are planned. This list includes the flagship MDPs like the 3-TP (3-Tier Programme) and the MDP for small and medium enterprises. These MDPs are known as General Management Programmes (GMPs) which are designed with the objective of providing insights into managerial concepts and techniques relevant for formulating and implementing strategies in functional areas.

10.3 ADMISSIONS 10.3.1 Admissions at Harvard Business school HBS looks for candidates who exhibit leadership potential, capacity for intellectual growth, and the drive to make a difference in their communities. The school aims to attract students representing a wide range of interests, perspectives and experiences as reflected by its highly diverse student body. Each year, students representing more than seventy countries and a wide range of backgrounds - ranging from professional sports, medicine and military to consulting and investment banking - are selected at HBS. To be considered for admission, a candidate must submit the following:

47

Graduate Management Admission Test (GMAT) or GRE scores Responses to the application essay questions Resume Recommendations Undergraduate academic transcript TOEFL or IELTS score, if applicable Non refundable U.S. $250 application fee (College seniors pay a reduced fee of $100) There is no minimum work experience required, though work experience is highly A four-year undergraduate degree is required for admission.

recommended to gain successful admission

10.3.2 Admissions at IIM-A The CAT (Common Admission Test) conducted by the IIMs is a very competitive test conducted for admission to around 2750 seats of graduate programs in management at the seven campuses, and is usually considered one of the most competitive exams in the world, with a supposed success rate of about one in two hundred, (49.5% of seats are reserved based on reservation policy of the government and these statistics apply to the general merit category candidates only). Each institute conducts group discussions and personal interviews to evaluate the students shortlisted after the test. On 1 May 2009, it was announced that from CAT 2009 would be a Computer Based Test. The contract for conducting computer based CAT was awarded to Prometric - the company that conducts GMAT. Post Graduate Programme in Agri-Business Management, Fellow Programme in Management and Post Graduate Programme in Management require CAT Scores.

The selection of candidates for admission to the 2011-13 batch of the PGP at IIM Ahmedabad is a two-step process. In the first step, candidates are short-listed for personal interviews from among candidates who have a valid CAT/GMAT score who have applied for the programme and who satisfy the eligibility criteria for the programme. A non-overseas candidate who applies with a CAT score is required to perform well in all three sections in CAT to be considered for short-listing. An overseas category candidate who applies with a GMAT score instead of a CAT score should have scored at least 45 in the quantitative and verbal sections and should have a total scaled score of at least 700. In the second step, after the completion of personal interviews of all candidates short-listed in the first step,

48

candidates for admission to the 2011-13 batch of the PGP at IIM Ahmedabad are selected from among the candidates who have attended the personal interviews. In preparing this list, apart from performance in personal interviews, inputs such as the CAT/GMAT score, academic background and achievements, extra-curricular activities, and post-degree work experience are taken into consideration. The selection for the PGP-Agro Business Management is done through a two-stage process. In the first stage, candidates to be called for group discussion and personal interview are shortlisted from among those who have applied to IIMAs Post-graduate Programme in Agro Business management. The actual cut-offs used for short-listing would depend upon the performance of candidates in CAT- 2010. While short-listing the candidates for group discussion and personal interview, candidates belonging to categories for which seats are reserved, are treated differently. In the second stage, candidates to be admitted to the PGPABM are selected from among those who have attended the group discussion and personal interviews. In preparing this admission list, inputs such as performance in group discussion and personal interview, the CAT score, suitability for the programme in terms of interest and background (considering that this is a sector-specific programme), academic profile and achievements, extra-curricular activities, and post-degree work experience and its relevance, are taken into consideration. Candidates applying to the Fellow Programme in Management except PGP Alumni from all IIMs and alumni of the One year Post-Graduate Programme for Executives (PGPX) of IIMA or similar programmes of other IIMs and one year Post-Graduate Programme in Public Management and Policy (PGP-PMP) of IIMA or similar programme of other IIMs who have undergone more than 15 years (10+2+3 years) of education prior to joining these programmes, are required to take the Common Admission Test (CAT) or a standard test in lieu of CAT. For NRIs and Foreign students this standard test is the Graduate Management Aptitude Test (GMAT).

10.4 BUSINESS SCHOOLS RANKINGS 10.4.1 GLOBAL RANKINGS Each year, well-known business publications such as Business Week, Financial Times, and the Wall Street Journal publish rankings of selected MBA programs. The methodology of ranking the b-schools defer.

49

Harvard Business School has been ranked 3rd in the world by Global MBA Rankings 2011 for the third time in a row. According to the Global MBA Rankings 2011, the Indian Institute of Management Ahmedabad (IIM-A) is in the 11th rank out of 100 top B-schools in the world. This is the first time IIM-A has been included in the ranking. The Post-Graduate Programme in Management (PGP) by the Indian School of Business (ISB), Hyderabad, has also been ranked 13th in a list of 100 top B-schools in the world- the Financial Times of London. In September 2010, IIM-A had been ranked eighth for its two-year postgraduate programme in management (PGP) in the Financial Times Masters in Management 2010 ranking from among 71 programmes.

THE FINANCIAL TIMES (FT) LATEST B-SCHOOL RANKINGS (INTERNATIONAL) 2011

RankName

1 2 3 4 5

London Business School University of Pennsylvania( Wharton ) Harvard Business School INSEAD Stanford University GSB

50

6 7 8 9 10 11 12 13 14 15 16 17 18

Hongkong UST Business School Columbia Business School IE Business School IESE Business School (Spain) MIT Sloan School of Management Indian Institute of Management- Ahmedabad University of Chicago Booth Indian School of Business IMD New York University Stern Yale School of Management CEIBA Dartmouth College Tuck

10.4.2 NATIONAL RANKINGS HBS is ranked No. 1 in the 2010 US News Graduate Business School Rankings (a survey of 426 masters programs in business accredited by the Association to Advance Collegiate Schools of Business (AACSB) International). It is also ranked No. 1 in the Business Specialty Management, No. 3 in Entrepreneurship, No. 5 in Marketing, No. 9 in Finance. It is 2nd in the US and 3rd in the world (Financial Times Global MBA Rankings 2009 and 2011). It is placed 5th globally in 2008. No. 1 globally in the ranking of academic journals and institutions in economics, according to the "Journal of the European Economic Association". It is 2nd in the Business Week ranking of US Top Full Time MBA Programs (2008), 1st in the Princeton Review's 2008, 12th in the 2008 Ranking of World Top Full-time MBA programs by Economist Intelligence Unit, moving up a place from 13th in previous year, tied for 1 st position

51

with Stanford University in the US News MBA Rankings (2008 and 2009), 7th in the EIU Ranking of Top 100 Full Time MBA programs 2006, 7th in the Forbes ranking of Top American Business Schools based on return on financial investment in full time MBA programs (2005), no. 1 among the Global Top 100 Full Time MBA Programs (FT 2005), 13th in the Wall Street Journal ranking of International Business Schools' MBA Programs (2004). The Indian Institute of Management Ahmedabad (IIM-A), leads the pack in the Economic Times rankings as the top choice of recruiters. The 47-year-old institute, whose curriculum is modelled according to that of Harvard Business School, retains an innovative edge that makes is hard to displace it from the top position. In second place is another institute from Jamshedpur. The Xavier's Labour Research Institute (XLRI) has evolved dramatically. It was set up in 1949 and recruiters place it a notch over IIM-Bangalore (IIM-B). The big breakthrough in rankings was made by Symbiosis Institute of Business Management (SIBM), which entered the fourth place. The flagship institute of the Symbiosis Society, which runs 35 institutions in Pune, the SIBM has emerged as a pioneer among privately-funded educational institutions. Recruiters place it a notch above IIM-Calcutta, the 44-year-old institute set up in league with the Sloan School of Management.

RANKING OF INDIAN B-SCHOOL B-school 1. Indian Institute of Management (IIM-A) 2. Indian Institute of Management (IIM-B) 3. Indian Institute of Management (IIM-C) 4. Indian School of Business (ISB) 5. Indian Institute of Management (IIM-L) 6. Xavier Labour Research Institute (XLRI) 7. Indian Institute of Management (IIM-I) 8. Indian Institute of Management (IIM-K) 9. IIM-A Agri Business Management (ABM) 10. IIM-L Agri Business Management (ABM) University Location Ahmedabad Bangalore Kolkata Hyderabad Lucknow Jamshedpur Indore Kozhikode Ahmedabad Lucknow Link www.iimahd.ernet.in www.iimb.ernet.in www.iimcal.ac.in www.isb.edu www.iiml.ac.in www.xlri.ac.in www.iimidr.ac.in www.iimk.ac.in www.iimahd.ernet.in www.iiml.ac.in www.fms.edu

11. Faculty of Management Studies (FMS) - DelhiNew Delhi

52

12. SP Jain Institute of Management & ResearchMumbai (SPJIMR) 13. Management Development Institute (MDI) 14. National Institue of Industrial Engineering 15. Indian Institute of Foreign Trade (IIFT) Gurgaon Mumbai New Delhi

www.spjimr.org www.mdi.ac.in www.nitie.edu www.iift.edu

10.5 STUDENTS DEMOGRAPHY AND BACKGROUND HARVARD BUSINESS SCHOOL

53

We can see from the chart above that 36% of the student body comprises of women, 34% international students and 23% of the US ethnic minority.

The chart above shows that students have had 4 years of working experience on an average, it also shows the industries or backgrounds represented by the students before joining HBS.

IIM-A The participation of women candidates in the Post Graduate Programme in Management (PGP) at the Indian Institute of Management, Ahmedabad (IIMA) has seen no improvement since the last two years. While the number of girls offered admission at the institute's flagship course dropped from 16% in 2009 to 11% percent in 2010, the figure has dropped to 10.9% this year.

%WOMEN
20 15 10 5 0 2009 2010 2011

%WOMEN

54

A total of 376 admission offers which included 182 general candidates, 104 from non-creamy other backward classes, 56 from scheduled castes, 22 from scheduled tribes and 12 differently abled students.

S TUD ENTSCOMPOS ITION(376 S ECTED EL TH YEAR) IS


DIFF. ABLED 3% ST 6% SC 15% GEN 48%

OBC 28%

ACADEMIC BACKGROUND

WORK EXPERIENCE

The above pie charts show the industry/educational backgrounds of the students of IIM-A and we can see that Engineering background students have the maximum percentage of 79%. The

55

work experience chart shows that 63% of students have had less than one year of experience and only 7% have more than 3 years of experience. 10.6 COMPARATIVE STUDY BASED ON VARIOUS VARIABLES

EMPLOYMENT Percentage of the most recent graduating class that had found employment or accepted a job offer within three months of graduation.

IIMA- 97%, HBS-90%

WOMEN FACULTY- Percentage of Women faculty

56

IIMA-12%, HBS- 22%

WOMEN STUDENTS-Percentage of women students.

IIMA-7%, HBS-36%

RESEARCH- This is calculated according to the number of faculty publications in 40 academic and practioner journals. Points are awarded to the business schools at which the author is currently employed. The total is weighted for faculty size.

57

IIMA-92%, HBS-1%

WEIGHTED SALARY- The Average alumni salary today with adjustment for salary variations between industry sectors. This figure includes date for the current year and the one or two preceeding years where available.

IIMA-174,440, HBS- 170,238

SALARY PERCENTAGE INCREASE- The percentage increase in average alumni salary from before the MBA to today as a percentage of the pre-MBA salary. This

58

figure includes data for the current year and the one or two preceeding years where available.

IIMA-152, HBS-116

INTERNATIONAL STUDENTS- Percentage of students whose citizenship differ from the country in which they are studying.

IIMA-8, HBS-34

59

INTERNATIONAL FACULTY- Percentage of faculty whose citizenship differs from their country of employment.

IIMA- NIL, HBS-37%

INTERNATIONAL MOBILITY- This is calculated according to whether alumni worked in different countries before the MBA, on graduation and also where they are employed today.

60

IIMA-42%, HBS-52%

ALUMNI RECOMMENDED RANK- Alumni were asked to rank 3 business schools from which they could recruit MBA graduates. The ranking is calculated according to the number of votes received by each school. Data for current year and the one or two preceeding years are included where available.

IIMA- 10, HBS-1

61

11. Findings ON HBS: Harvard Business School has consistently proved to be one of the best business schools in the world. Its success depends on a multitude of things. For example the introduction of the case study method in 1925 by HBS faculty, the case method is a powerful interactive learning process that brings the complex and dynamic realities of business analysis and decision making into the classroom. The cornerstone of the School's renowned general management approach, the case method provides students with the transcendent skills, insights, and self-confidence required to meet the interdisciplinary demands of real business situations.HBS faculty work with business leaders at organizations of all sizes around the world to research and write more than 350 new cases each year, updating and refreshing about a third of course content annually to ensure relevance to current and emerging practice. Nearly 80 percent of cases used at business schools worldwide are developed by HBS faculty. In cases, classrooms, learning teams and more, you exercise the leadership skills you will practice in business and beyond. The issues are complex, the stakes high, and the demands challenging. But as a result, you leave HBS with lessons in leadership that are practical, priceless and most importantly, real. Participants in the MBA and Executive Education programs engage in learning models tailored to their levels of experience. The School's research budget of over $70 million is entirely self-funded to ensure objectivity and to provide faculty with the freedom and flexibility to pursue novel and innovative lines of investigation. Each academic year, the faculty authors or co-authors about thirty-five books, produces more than 300 academic papers, and writes a broad array of articles for general business publications. The School maintains a network of global centers and offices in key cities around the world including Hong Kong, Shanghai, Tokyo, Buenos Aires, So Paulo, Paris, Mumbai, and Palo Alto that coordinate research and build local relationships that help weave the School into the fabric of the global market place. About 35 percent of our MBA students and over 60 percent of our executive education participants are from nations other than the U.S., bringing richness and depth of international perspective to our daily case discussions. Twenty-five percent of cases produced by faculty each year deal explicitly with international business issues.

62

The campus environment greatly enriches the educational experience of MBA students, doctoral candidates, and executive education participants by providing a host of opportunities for interaction with one another and with faculty beyond the classroom, for easier access to a range of on-campus activities and resources, for socializing, and for building lasting relationships. Due to the generosity of its alumni as well as the continuing success of its own operations, HBS has exceptional flexibility in meeting the needs of its educational and research activities. The forty-acre residential campus has thirty-three buildings with a broad range of dedicated facilitiesincluding state-of-the-art classrooms, meeting spaces, and Baker Library, one of the world's largest and most respected business libraries. The educational experience is augmented by a sophisticated and continuously evolving IT system that seamlessly integrates technology throughout the campus. The School's unmatched financial resources have provided faculty and students with the flexibility to produce a continuous stream of innovations in education and research designed to meetand anticipatethe evolving needs of business leaders everywhere. The best measure of the success of an educational institution is the success of its alumni, and HBS is well known to have one of the largest and most influential alumni networks of any institution in the world. At present, the School has more than 70,000 alumni in more than one hundred and fifty countries around the worlda network that expands steadily with each graduating class.HBS graduates are leaders in an exceptionally broad range of organizations, including entrepreneurial companies, established firms, government, and non profit organizations.HBS alumni serve in a wide spectrum of industries, including consulting, financial services, venture capital, high technology, manufacturing, retail, and consumer products. ON IIM: The IIMS are a great success based on the demand for admissions, and the starting salaries for its PGP graduates. With 250,000 aspirants competing for 1800 seats, the selectivity is 1% which is better than any business school in the world. However, the IIMs have come in for criticism for not having periodically increased admission capacity for the MBA programmes, despite the growth of the Indian economy and the demand for admissions. The IIMs are not able to expand their physical infrastructure (land, hostels, classrooms, faculty offices and residences), or recruit faculty fast enough to meet this growth expectation. At the same time, teaching in the IIMs became less and less attractive as the compensation differential between academic and industry widened. Another important finding, is that, the IIMs have come in for criticism because they have lagged behind leading global business schools in

63

publishing papers in internationally peer-reviewed management journals. It is apparent that the quantity and quality of research carried out in the IIMs has been inadequate. Also, the collegiate style of internal decision making in the IIMs, where all faculty members have a say in every decision, could not also help in finding a good solution to the problem of increasing admissions and meeting the shortage of faculty. Presently the governance of IIMs is divided between the Central Government, the Board of Governors and the Directors of the IIMs. The IIMs are dependent on Government for approval of plans and for funding. The power to create faculty posts, and determine remuneration packages, conditions of service and retirement benefits of the faculty are with the Central Government.

12. Our Analysis Harvard Business School provides one of the best top quality business educations in the world. It has maintained its top position consistently with a slight change in rankings. The change in rankings is mainly due to different methods of ranking. Financial Times, Economist, Wall Street Journal, U.S News and World Report, Forbes etc all have different methods of ranking. It has been able to produce quality students due to their good and unique teaching methods. In order to maintain this position, it should continue to perform and maintain its ranking. The IIMs have achieved a worldwide reputation as institutions offering a very high quality business education. The recent ranking of Financial Times 2011 showed IIMA at 11th rank. This is a huge achievement for all. It should have been ranked amongst the top business schools from long but due to various reasons, it failed to feature in the rankings. One reason to this is due to the shortage of faculty. The long term continued shortage of faculty, and the inadequate remuneration paid to those in functional disciplines, has undoubtedly had an impact on the ability of the IIMs to expand the admission capacity of the PGP classes, and for the faculty to devote more time to research. The IIMs are dependent on Government for approval of plans and for funding. The power to create faculty posts, and determine remuneration packages, conditions of service and retirement benefits of the faculty are with the Central Government. Without financial powers, and the ability to create conditions to attract and retain good faculty, the Boards could not be expected to do much in an IIM. There is a public expectation that just as Indian companies are achieving world recognition, IIMs ought to figure in international

64

rankings as well. It must maintain its ranking in the world as one of the top business schools of the world.

13. Conclusion Harvard Business School has two advantages, size and influence. It is no doubt amongst the best business schools in the world. It has been able to deliver quality education unparalleled in many ways. Its teaching methods are more analytical rather than quantitative, the strong faculty and the placements it provides has been reported very satisfying by alumni all over the world. Also being one of the oldest and biggest business schools it has the largest number of alumni, more than the alumni of any other school. Therefore, it has a large network of alumni. HBS is also the school of choice for venture capitalists. IIMs presently is unable to meet the increasing demand of seats from the aspirants and account for less than 5% of MBAs produced in India and therefore need to expand its capacity and reach. The shortage of faculty is immensely hampering the performance and growth of the institutes. IIMs need to review the importance which attaches to good research and publishing, in determining the careers and prospects of faculty. At the same time enough supporting infrastructure for research should also be provided. Efforts should be made to encourage both applied research and fundamental research. IIMs ought to figure in international rankings and this can be addressed through better governance and resolving issues relating to faculty. The areas where IIMs have, in recent years, not performed adequately, can be attributed to divided management responsibilities, and the lack of accountability. 14. Reccomendation FOR HBS:

More women students must be admitted. To provide better funding or financial aid to students who need financial assistance. Integrating more of the international business practices into its core-curriculum. Promote diversity in student community. A balance use of case study method and forced curve evaluation system.

65

To encourage the students to do more entrepreneurial ventures on their own.

FOR IIMA:

Innovations in the governance system at the IIMs, and flexibility in the financing methods, keeping in view the publics expectations and the fund invested by the Government.

Develop IT systems for financial, administrative and human resource management. Evolve an effective mechanism for ensuring necessary coordination in the working of the IIMs so that the IIM brand is enhanced, and resources of all the IIMs are utilized to best advantage.

To require IIMs to prepare 4 year rolling plans, and to approve business plans prepared for 2 year at a time to achieve its goals and objectives

To review the performance of each IIM once in two years, and specifically in respect of achievement of business plan targets, quality of governance, financial condition, status of faculty and quality and quantity of research work.

IIMs should first attempt to increase annual intake for the PGP to enable better economies of scale being achieved.

The IIMs have a common entrance examination. However, each IIM conducts separate interviews of the students who qualify in the CAT. In future, a student may theoretically have to attend 13 interviews. The same student would be interviewed 13 times by a number of faculty members of each IIM. On the face of it this is enormously wasteful and unnecessary. Like for the Civil Services, there should be a common interview where all the IIMs could be represented. The students who qualify may be allotted the IIM based on their merits.

The remuneration of all IIM staff should be determined, by taking into consideration market conditions so as to attract and retain high quality talent, ability to pay, and the need to provide motivation for performance. The Board should also periodically review the compensation packages taking changes in the environment into account.

66

A system of appointing faculty on a contract basis be introduced, where market oriented salaries could be paid.

Research work should be given due weight in determining performance-based compensation, and making promotions and this is accessed through an outside peer review system so that quality of research and academic work can be objectively evaluated.

The academic and administrative functions in IIMs should be separated. This would enhance efficiency and also give faculty more time to teach and do research. Much greater use of technology should be made in administrative functions.

Business Schools in the USA generally have large corpuses, built with donations from private companies, individuals and alumni, and capital works are largely financed from these funds. Similarly, all IIMs should be actively encouraged to create a corpus based on donations from alumni, industry and individuals.

15. Executive Summary Harvard Business School is often criticized for lack of teamwork, individualistic focus, and nasty competition. It also needs to admit more women students and give better financial aid to needy students like its counterparts Stanford and Wharton. With the more than generous help by the alumni, it is feasible to provide such financial aid. However, with the dynamic sessions and cohort experience and study groups it can be summed up that HBS has done wonderful in the field of business education. It may be claimed that Harvard is all about teamwork, and striving to compete with oneself to grow and develop. The case study learning method is the power of the Harvard experience. It has enabled the students to learn, grow, and survive hinges on not only one's own intellectual abilities but working, helping, cooperating, and motivating each other.

The IIMs are considered the top business schools in India and have achieved a worldwide reputation as, institutions offering a very high quality business education. Every year, the IIMs,

67

are developing competent professional managers, capable of working in any sector of organized activity, proceeding leadership and achieving excellence in performance and contributing to the welfare of the larger society. The IIMs have a rich faculty with diverse backgrounds to install in the students a continuous desire to achieve excellence. Research constitutes an important academic activity at the Institutes with great attention to the relevance, breadth, and depth of research. The IIMS, every year brings out large number of publications in various forms books, monographs, papers in journals, cases. However, the IIMs have come in for criticism for not meeting the expectations of the aspirants, larger public and the Government, in terms of its limited intake capacity, the shortage of infrastructure and the faculty, the quality of the faculty, decline in quality research and publications. The reasons, to all these issues are manifold, like the prevalent governance system, lack of accountability, shortage of faculty, inadequate funds, etc. The IIMs, therefore, requires to review their performance and specifically in respect of achievement of business plan targets, quality of governance, financial condition, status of faculty and quality and quantity of research work.

References:

http://www.hbs.edu/about/annualreport/2010/ http://en.wikipedia.org/wiki/Harvard_University http://www.businessweek.com http://rankings.ft.com/businessschoolrankings/ http://en.wikipedia.org/wiki/Harvard_University Indian Institute of Management, Ahmedabad, 48th Annual Report 2009-10. Government of India, Ministry of Human Resource Development Higher Education (Management Division), Report of IIM Review Committee, Sept,2008

www.iimahd.ernet.in

68