In the early decades, a specialised academic background for running a successful business was not mandatory. But with the emergence of fresh ideas and new competition, the Importance of specialized B schools has increased considerably since the 20th century.
Today, to conduct a successful business, an outstanding entrepreneurial thought along with a vision also needs an expert direction through an M.B.A. degree relevant to the field of the business sector.
The Business Schools cover relevant topics such as finance, human resource management, entrepreneurship, marketing, etc. to choose from and to specialise in along with many other subjects.
An MBA degree from a reputed Business School gives you the expertise to learn and operate a successful business of your own, and also handle all the managerial tasks, become a financial or a marketing expert or head a top position in a corporate firm. B schools give the necessary coaching to meet the challenges for running a successful business and prepare you with the necessary knowledge for a proficient handling of various business segments. Therefore, there is no denial that business schools help refine and enhance knowledge and skills to surface the leadership potential of an individual.
As per the study conducted by The Hindu, following are the top Business schools of India that have produced some of the great techies and highly successful entrepreneurs.
Best Business Schools In India, 2016
|Rank||School name||Overall Score|
|1||Indian Institute of Management (IIM) Ahmedabad||98.7|
|2||Faculty of Management Studies (FMS), New Delhi||98.4|
|3||Indian Institute of Management (IIM) Bangalore||98.2|
|4||Xavier School of Management (XLRI), Jamshedpur||97.8|
|5||Indian Institute of Management (IIM) Calcutta||97.7|
|6||Indian Institute of Management (IIM) Lucknow||97.6|
|7||Management Development Institute (MDI), Gurgaon||97.2|
|8||S. P. Jain institute of Management and Research (SPJIMR), Mumbai||95.8|
|9||Indian Institute of Foreign Trade, New Delhi||95.7|
|10||Indian Institute of Management (IIM) Kozhikode||95.6|
|11||Narsee Monjee Institute of Management Studies (NMIMS), Mumbai||95.2|
|12||Department of Management Studies, Indian Institute of Technology, Delhi||94.9|
|13||Department of Management Studies, Indian Institute of Technology, Madras||94.8|
|14||Vinod Gupta School of Management (VGSoM), Indian Institute of Technology, Kharagpur||94.7|
|15||Shailesh J Mehta School of Management, Indian Institute of Technology, Bombay||94.6|
|16||Department of Management Studies, Indian Institute of Science, Bangalore||94.4|
|17||Indian Institute of Management (IIM) Rohtak||94.1|
|18||Jamnalal Bajaj Institute of Management Studies, Mumbai||92.8|
|19||Management Development Institute (MDI), Gurugram, Haryana||92.7|
|20||Indian Institute of Management (IIM) Raipur||92.6|
|21||Xavier Institute of Management, Bhubaneswar||92.4|
|22||Indian Institute of Management (IIM) Ranchi||92.3|
|23||Indian Institute of Management (IIM) Tiruchirappalli||92.2|
|24||Indian Institute of Management (IIM) Kashipur||92.1|
|25||Delhi School of Management, Delhi Technological University, Delhi||91.9|
|26||Indian Institute of Management (IIM) Udaipur||91.|
|27||Indian School of Business, Hyderabad||91.6|
|28||Xavier Institute of Management and Entrepreneurship, Bangalore||91.4|
|29||Goa Institute of Management, Goa||91.3|
|30||Amity Business School, Noida||91.2|
|31||Indian Institute of Forest Management, Bhopal||89.9|
|32||Indian Institute of Technology Kanpur||89.8|
|33||International Management Institute, Kolkata||89.7|
|34||Thiagarajar School of Management, Madurai||89.6|
|35||Vellore Institute of Technology, Vellore||89.5|
|36||Rajiv Gandhi Indian Institute of Management Shillong||89.4|
|37||Indian Institute of Management Kashipur, Uttarakhand||89.3|
|38||Indian Institute of Information Technology & Management, Gwalior||89.2|
|39||Fore School of Management, New Delhi||85.8|
|40||IBS Business School, Hyderabad||85.7|
|41||Lal Bahadur Shastri Institute of Management, New Delhi||85.4|
|42||Birla Institute of Technology, Ranchi||83.8|
|43||Institute of Management Technology, Ghaziabad||83.6|
|44||T. A. Pai Management Institute, Manipal, Karnataka||83.1|
Indian Institute of Management, Ahmedabad – The Indian Institute of Management, Ahmedabad (IIMA) is a public business school located at Ahmedabad, Gujarat. The institute established in 1961 ranks first in India and is one of the leading B schools in the Asia Pacific region. Over the past six years, the institute has ranked consistently among the Top 20 programmes worldwide in the Financial Times Ranking. The institute offers Post Graduate diploma programmes in Management and Agri-Business Management courses, a Fellowship Programme and a number of Executive Training Programmes.
Alumni of this premier B school include Raghuram Rajan, Former Governor of Reserve Bank of India; Harsha Bhogle, Cricket commentator and a journalist; K.V. Kamath, an independent Director at Infosys (an Indian Multinational corporation) and board of Directors at ICICI bank.
Faculty of Management Studies (FMS), New Delhi – FMS under the patronage of University of Delhi was established in 1954. The first faculty of the institute was trained at the Stanford Graduate School of Business to provide graduates with premier experience in management. The institute also operates certain clubs and societies within the campus to facilitate students and increase their involvement in various tasks. Alumni of the institute include Harit Nagpal, MD and CEO of Tata Sky Ltd, one of the best DTH service and Raghav Bahl, Controlling shareholder and MD of Network 18.
Indian Institute of Management, Bangalore- IIM Bangalore was established third in position after IIMA in 1973 as a result of the rising demand for management graduates. Following the IIM academia, IIMB also teaches the same programmes as the above B Schools. Unlike the private sector adaptation of IIMC and IIMA, IIM Bangalore was oriented towards the public sector. IIM Trichy, established in 2011 was mentored under IIM Bangalore’s authority and a new IIM formed in Visakhapatnam established in 2015 also follows a similar post-graduate programme under the special faculty of IIMB. Bureaucrats such as Mr. K. Radhakrishnan, a former Chairman of ISRO; Hasmukh Adhia, current Finance Secretary, Government of India have been bright alumni of the institution.
Xavier School of Management (XLRI), Jamshedpur – XLRI began in 1949 to teach management and trade courses. The institute is the oldest in India. The institute offers post-graduate courses on Business management, HR management, doctoral fellow programs and other executive courses for the ones already working and employed and those who are business owners. Association of MBAs (AMBA), UK has accredited XLRI as one of the globally coveted institutions representing the highest standard of achievement in Postgraduate business education. Notable alumni include B. Muthuraman, Vice-Chairman of Tata Steel Ltd; Leena Nair, Global Vice President, Unilever; Arun Maira, Former partner at Boston Group and many others.
Indian Institute of Management, Calcutta – IIM Calcutta was the first Indian Institute of Management established in India in 1961. The institute offers full time post graduate management programmes and doctoral programmes specialising in Finance and Control, Economics, Marketing, Sociology, etc. Being a member of The Global Alliance in Management Education (CEMS) the institute offers CEMS Masters in International Management degree. IIM Calcutta has a wide network of partner B-schools worldwide through which it conducts student exchange programmes. Ramchandra Guha, noted Historian and Author; Ajit Balakrishna, CEO of Rediff.com and Indra Nooyi, Chairman and CEO of Pepsico are some of the famous alumni of IIMC.
Indian Institute of Management, Lucknow – IIM Lucknow was established fourth in position of IIMs in the year 1984. The institute is recognized as an “Institution of Excellence” by the Ministry of Human Resource Development, Government of India. Former Managing Director of Tata Steel, Mr. Jamshed J.Irani chairs the Board of Governors of IIM Lucknow.
The Institution has a satellite campus at Noida, NCR area exclusively for executive education. IIM Lucknow is engaged in various student exchange programs as it has tied up with 24 leading B-schools across the world. The institute mentors the newly established IIM Rohtak and IIM Kashipur. A few of the noted alumni of the Institute are Gayatri Iyer, a famous playback singer; Rohit Suri, President and MD of Jaguar Land Rover India; Ajit Thakur, CEO of Eros International’s motion pictures production.
Management Development Institute (MDI), Gurgaon – MDI was established in Gurgaon, near New Delhi in 1973 in collaboration with global institutions such as the United Nations Development Programme, UN Industrial Development Programme, World Bank and the International Labour Organisation with the active support of Industrial Finance Corporation of India (IFCI). The institute is accredited by the AMBA, London in 2011. It also holds a South Asian Quality Assurance System (SAQS) accreditation, awarded in 2005. A second campus of MDI has come up in West Bengal to cater to the demand for quality management institutions in 2014. B. Ashok, Chairman of Indian Oil Corporation Limited and Sanjay Verma, CEO – Asia Pacific, Cushman & Wakefield are one of the famous Alumni of MDI.
S P Jain institute of Management and Research(SPJIMR), Mumbai – SPJIMR was inaugurated in 1981 by the then British Prime Minister Margaret Thatcher. The institute had begun as a small extension of Bharatiya Vidya Bhavan, an educational trust that dates its origin in 1930s and has become one of the premier business schools of India. Apart from Business management programmes, SPJIMR offers specialised programmes, seminars and workshops in collaboration with many corporate entities, academic organisations and non-profits. The York University’s Schulich School of Business in 2010 launched a new MBA program at SPJIMR. Some of the famous alumni of the institute are Rajesh Jejurikar, CEO of Farm equipments and automotives, Mahindra & Mahindra; Shrinath Bolloju, Interim CEO, Deutsche Bank and Indrajit Gupta, Founding Editor, Forbes India.