ISB: A Leading Business School in India
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Case Code: BSTR106 Case Length: 17 Pages Period: 1995 - 2004 Pub Date: 2004 Teaching Note: Not Available |
Price: Rs.300 Organization: Indian School of Business Industry: Higher Education Countries : India Themes: Corporate Strategy |
Abstract Case Intro 1 Case Intro 2 Excerpts
Background Note
The idea of starting ISB was conceived in late 1995. The founders had a vision to create a unique and enduring global, research-oriented and independent academic institution to nurture, train and transform the coming generation of students into future leaders and entrepreneurs of global stature. ISB's governing board was formed in early 1996, with Rajat Gupta (Gupta), former managing director of McKinsey & Company Worldwide, as its Chairman. The board comprised eminent business leaders representing diverse industries from both Indian and foreign corporates. An executive board with well-known business and academic personalities including Rahul Bajaj, Anil Ambani, Narayana Murthy, KV Kamath, MS Banga, YC Deveshwar, Adi Godrej (Godrej), Sumantra Ghoshal (Ghoshal) and others on it, was also formed. (Refer Exhibit I for ISB's governing board & executive board members). The founders faced several challenges while establishing the school. The selection of a site for the school was the first hurdle.
The founders had to tackle the Indian bureaucratic system that is quite notorious for unnecessary delays in allowing new projects to get off the ground. Funding the total cost of the project which was estimated to be around $80-100 million (mn)6 was yet another challenge. However, generous donations from Indians settled in the US and other countries helped the founders raise the funds required to start the school. ISB received generous support from corporates hailing from a wide range of industries. Companies like Mahindra & Mahindra (M&M) and Hindustan Lever Limited (HLL), extended their marketing support to ISB. ICICI Bank and HDFC Bank arranged to provide loans for the selected students of ISB. Citibank, McKinsey and Hong Kong and Shangai Banking Corporation (HSBC) announced scholarships for meritorious students. After a lot of deliberations over where the school should be set up, the founders decided they would opt for one of the larger metropolitan cities like Kolkata, Bangalore or Mumbai...
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