What are IIMs
Posted on June 1, 2009 | What at mybiginfo.com | What are IIMs | | View all What | |
The Indian Institutes of Management (IIMs) are India’s premier management institutes that also conduct research and provide consultancy services in the field of management to various sectors of the Indian economy. They were created by the Indian Government with the aim of identifying the brightest intellectual talent available in the student community of India and training it in the best management techniques available in the world, to ultimately create a pool of elite world class managers to manage and lead the various sections of the Indian economy. IIMs play a leadership role in the nation’s managerial manpower development and carry out research in emerging areas. These Institutes are recognized as premier management institutions, comparable to the best in the world for teaching, research and interaction with industries. IIMs being “Role Models” have shared knowledge and skills with other institutions to improve their quality and standards in management education. IIMs have earned an international reputation for the quality of their alumni.
IIM Locations
The IIMs are considered the top business schools in India. All the IIMs are completely autonomous institutes owned and financed by the Central Government of India. In order of establishment, the IIMs are located at Kolkata (Calcutta), Ahmedabad, Bangalore, Lucknow, Kozhikode (Calicut), Indore, and Shillong. They offer post-graduate courses in management (equivalent to an MBA), fellowship programmes in management (equivalent to PhD), executive MBA and industry based programmes. IIMs actively carry out research and consultancy for the industry, including the needs of non-corporate and under-managed sectors such as agriculture, rural development, public systems management, energy, health education, habitat, etc. The IIMs also offer various other management training programs as well as part-time MBA programmes for various organisations and individuals.
Admission process
Admission to IIMs can only be gained through the CAT (Common Admission Test). The CAT conducted by the IIMs is a very competitive test conducted for admission to around 1250 graduate programs in management at the seven campuses, and is usually considered one of the most competitive exams in the world, with a supposed success rate of about one in two hundred. Each institute conducts group discussions and personal interviews to evaluate the students shortlisted after the test.
Some claim that since around 300,000 students compete for less than 1350 general seats (out of 1700 total seats) in the IIMs (2008 figures), IIMs are even more selective than all the top US business schools put together. The remaining 23% of seats are reserved for candidates belonging to Scheduled Castes and Tribes and PWD. The average percentile of students admitted through these reserved categories is lesser than the percentile scores of the General class students, which generally hovers around 99 percentile.
The above claims of competitiveness are highly disputable. IIM proponents claim that the overall IIM acceptance rates range between 0.1% to 0.4% depending on the rank of the individual IIM, compared to acceptance rates of 5-15% for the top US schools, e.g. 12% for Harvard Business School and 8% for Stanford Graduate School of Business in 2008. This comparison are argued as inaccurate because CAT is akin to a GMAT whereas the the percentage calculated above assumes that CAT is akin to application to the business schools (IIMs). If it is assumed that all 200,000 GMAT test-takers are applicants to Harvard Business School or MIT alone, the acceptance rates for these schools will drop to 0.4% and 0.2% respectively (But Still Higher than IIM). Secondly, CAT scores are accepted by more than 120 business schools in India which underscores the point that all test-takers are not applying to IIMs ( Because of their low score). Finally, it is argued that a considerably small number of CAT test takers are serious candidates ; the rest appear for this exam as a rite of passage. Such casual candidates are partially eliminated in GMAT due to high test fees.
IIM Ahmedabad
The Indian Institute of Management Ahmedabad (IIM Ahmedabad, also known as IIMA) is considered to be one of the premier institutes of management education in India. According to the Economist’s survey of global B-schools, 2001, IIM Ahmedabad was rated as “The World’s Toughest B-School To Get Into” as over 200,000 people apply each year for admission and compete for about 250 seats.IIM Ahmedabad was ranked as the top business school in India according to the Business Today B-School Rankings in 2007-08 and the ET B-school Survey 2007
IIM Bangalore
The Indian Institute of Management Bangalore (IIMB) is one of India’s premier management institutes. It was established in the year 1973. It is widely considered to be one of the toughest to get in MBA programs in the world. IIM B is the only B School in India to be ranked among Top 10 Asia-Pacific B-Schools according to the QS Global Business School Survey 2009. Also Eduniversal, Paris has ranked IIMB as the #1 Business School in Central Asia, Middle East & South Asia and among the top 27 schools worldwide.
The IIMs are very selective in admissions. The year 2008 saw around 267,000 candidates appearing for the Common Admission Test, the entrance exam for the IIMs. The IIMs were created by the government of India to augment management talent and resources in the country. The institute is located in India’s Information Technology capital, Bengaluru.
IIM Calcutta
The Indian Institute of Management Calcutta (also known as IIM Calcutta or IIM-C) is considered to be one of the premier institutes of management education in India. It was the first of the seven Indian Institutes of Management to be set up. It is located at Joka, on the southern outskirts of Kolkata city, in the state of West Bengal, India. It is the oldest of the seven Indian Institutes of Management.
IIM Indore
Indian Institute of Management Indore is a state funded management institute in Indore, Madhya Pradesh. Instituted in 1998, IIM Indore is the sixth addition to the prestigious IIM family. Known as “Prabandh Shikhar” or “Peak of Management”, the scenic 193 acre (781,000 m²) campus is located atop a small hill on the outskirts of Indore. The institute has been consistently ranked among the top business schools in India. The overall acceptance rate for IIM Indore is around 0.3 to 0.4% of the applicants (compared with the acceptance rate of around 5-10% in the US Ivy League universities).
In addition to its flagship Post Graduate Programme (PGP) and general management courses for executives, the institute started offering a 6 month business management course for Defence officers (CCBMDO) in June 2006.IIM Indore has gradually been increasing the annual intake of students for its two year Post Graduate Diploma in Management (PGDM) course from around 50 in 1998 to 240 in 2008. On November 27, 2008 Prof. N. Ravichandran joined as the director of the institute for a period of 5 years.
IIM Lucknow
The Indian Institute of Management Lucknow (also referred to as IIM Lucknow or IIML), was established in 1984, by the Government of India, as a national level school of excellence in management science. It was the fourth Indian Institute of Management to be established in India after IIM Calcutta, IIM Ahmedabad, and IIM Bangalore. It is situated at the outskirts of the historic and culturally rich city of Lucknow.
It is considered one of the premiere B schools in India. Over 240,000 people apply for IIML through the Common Aptitude Test each year for roughly 300 seats. Over the years, it has created a niche for itself in the areas of marketing, consulting and of late, finance.
IIM Kozhikode
The Indian Institute of Management Kozhikode (IIMK) is one of the seven Indian Institutes of Management set up by the Government of India. The Institute was founded in 1996 in collaboration with the State Government of Kerala.
The Institute conducts a full range of academic activities in the field of management education covering research, teaching, and training, consulting and intellectual infrastructure development. The Institute emphasises development of analytical skills and a focus on global and cross-cultural issues with a balance between business demands and social concerns.
IIM Shillong
The Rajiv Gandhi Indian Institute of Management, Shillong or RGIIM is a Business School recently setup by the Government of India in the state of Meghalaya. It is the seventh and youngest in the line of Indian Institutes of Management that are generally considered to be among the best business schools in India. It is named after former Prime Minster, Rajiv Gandhi and the foundation stone of the institute was laid by Shri Arjun Singh, HRD Minister on December 1, 2007. and was formally inaugurated by Dr Donkupar Roy The Chief Minister Of Meghalaya on 4 July 2008.
The director of IIM Shillong is the illustrious Prof. Ashoke K Dutta who himself is an alumnus of IIM Calcutta. Educated in Calcutta at the St. Xavier’s College and the Indian Institute of Management. Prof. Ashoke K Dutta was on the Ph.D. programme in management at the Case Western Reserve University, USA for two years. He has worked for more than 30 years in Multinational Corporations, Indian Business Houses and Public Sector Enterprises. He has experience in industry such as Shipping & Transport, Fast Moving Consumer Products, Pharmaceutical, Media and Education.
Future IIMs
The 11th five year plan of India proposed 7 new IIMs by the end of 2012. Of these, the government has announced plans to establish 6. These IIMs will come up in the states of Jammu and Kashmir, Tamil Nadu, Jharkhand, Chhattisgarh (Raipur), Uttarakhand and Haryana.
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