Scene 1:
With huge names like Rajat Gupta and backing of institutes like Wharton and Kellogs’s Indian School of Business was founded under the supervision of the Andhra Pradesh CM Chandrababu Naidu. The reaction amongst the academic community was that of ectasy, among B schools was a mix of pride (touted as India’s first International B School) and concern (fallout of ISB on placements) and pride amongst the common man
Scene 2:
The nation is sent into a spin from a outpour of well planned and beautifully executed mail from ISB. The 4 page long mail describes in all splendour the first 1 week of ISB. This mail spread faster than the viruses and soon all white collar employees of blue chip companies had received this mail from some ’’unknown’’ friend. The contents of the mail left many a people astonished at the level of education in ISB and jealously amongst the IIM and other premier school grauduates. The contents of the mail described their interaction with Mr Naidu, stay at Hotel Taj Krishna, wireless networks and laptops and the course content. Wow! I really believed that ISB has finally arrived.
Scene 3:
So how’s ISB doing? After that solitary mail, the fratenity of ISB seem to have taken to their studies very seriously as there is no more mails to their friends. Suddenly, ISB has turned into Media’s hot favourite to a balck hole which sends no information to the outside. So are things all right at ISB? Now a small amount of anxiety has crept in ......
Scene 4:
Feb 12 was a red letter day in ISB’s History. Had the institute been established a couple of years ago, this day would have been heralded for the international offers they received. But this is year 2002, US in recession, India has surplus of B School graduates, IIMs finding it tough to place the whole batch. What’s happening in ISB? The situation is grim (thats a huge understatement!!).... only Goldman Sachs has foreign posting and the rest are all Indian Companies that visit other B Schools .... the likes of Satyam, HLL, Coke, Standard Chartered Bank
Moral:
ISB was a hyped out venture. Someone quoted that ’’ Trust not what consultants (McKinsey) start, for they are not very good at running businesses . The above was proved in the bust of the dotcoms and the ibankers along with the consultants had the most hand in it. The same could be with ISB. ISB has imploded on the expectations of students (fat salaries with abroad postings), media and the people
Where does ISB go from here?
Is this the end of ISB? I do not believe so... with names standing behind it., ISB will not (hope) close down. Yes., its reputation has taken a beating in a bad year but a strong response is what is needed from it.
My advice to people who plan to join ISB this year is to spend a lot of time in researching issues about ISB that others are uncomfortable with?
What learning can one have in 1 year courses?
How much depth can one go in area of specalization?
Is it a career booster mechanism or career shifter (from IT to finance for e.g., )
What is the palcement scen like this year? how will it look like next year?
Do they give an assured foreign placements?
How much time is expected in clearing the fee loan?
Please do not jump into the well without these information, as you might regret it later. Any suggestions and comments on this article is welcome.
Wishing ISB the very best of luck ...(it needs a lot of them)