Abstract

ICFAI Publications was a division of ICFAI, one of the largest educational foundations in India offering courses in finance, management, law, education and other subjects, in the distance and campus learning modes. The division published 16 magazines and 15 journals in management, finance and law. These publications were mostly niche products, appealing to specialists in the respective fields. The division followed a unique model in bringing out the magazines and journals. Almost all the publications were started as digests (reprinting articles published in other magazines and journals, with the permission of the copyright holders); over a period of time, more original articles were added. The responsibility for bringing out the magazines and journals rested mainly with Consulting Editors, who were faculty members at ICFAI’s business schools and other divisions, and looked after the magazines on a part-time basis. Although the division was not profitable, the publications activity was believed to bring in several direct and tangential benefits to the other activities of the foundation. The Director of the ICFAI Foundation now desired to increase the number of publications, even though some people expressed concerns that the business model followed by the division may still be unproven. The case examines the performance of the division; the sustainability and scalability of its business model; the benefits (real and perceived) deriving from publications; and the appropriateness of the strategy followed by the Foundation in its publications activity.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• To understand the difficulties involved in evaluating indirect contributions/benefits from a business or activity.
• To analyze the competitive nature of the management education business.
• To discuss the possible advantages an academic institution can derive, by running its own publishing business.
• To understand the difficulties in bringing about a change in the culture of the organization.
• To discuss the various models of production possible in the publishing industry.

Keywords