Monday, April 05, 2010

ISB signs MOU with MIT Sloan

The Indian School of Business (ISB) signed a memorandum of understanding (MoU) with the MIT Sloan School of Management to develop two new institutes at ISB’s upcoming campus at Mohali. The proposed institutes are: The BML Munjal Institute of Manufacturing Excellence and Innovation and the Punj Llyod Institute of Physical Infrastructure Management. After the MoU was signed by ISB Dean Ajit Rangnekar and David Schmittlein, John C Head III, Dean of MIT Sloan, HRD minister Kapil Sibal said that this collaboration has a unique business model which aims to improve innovation, especially in the wake of collapsing past and uncertain future.

On the proposed Foreign Education Bill, Sibal clarified the foreign universities would not get any special preference in India. “We want to give them national treatment. They should have stake in the system. We don’t want fly-by-night institutions. We want them to invest in India.” The entry of foreign universities in India would help in building faculty and innovation. He said the proposed legislation would improve the overall quality of education in the country.

ISB Chairman Rajat Gupta also emphasised that the institution is not afraid of any kind of competition if the Bill is implemented in its total form. The association with MIT Sloan, which has legendary expertise in the area of manufacturing and infrastructure management, would help to build collaborative research programmes. “This is a first of its collaboration wherein ISB, a signature in innovation, would bring in lot of capabilities for joint research programs,’’ he added.

Rangnekar said that MIT Sloan will support ISB in developing the two institutes at Mohali and will involve in providing a faculty support and curriculum design in the areas of manufacturing, operations and management of large infrastructure; assisting faculty recruitment for ISB; providing teaching opportunity for MIT faculty at both Hyderabad and Mohali campus; joint executive education programmes; and facilitating a joint action learning projects for the students.

Source: The Financial Express, April 4, 2010

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