IMI is known for its excellent faculty and high quality intellectual capital. Many of the faculty members are actively involved in training, research and consultancy in areas that are of interest to them. Keeping the above in mind it was felt that developing a few focused centers of excellence will go a long way in harnessing this competency and dove tail it into a meaningful intellectual output. The output of each center will be as follows:
The following Centers of Excellence are thus being setup at IMI.
Each center will have as its patron a very senior industry executive along with a high powered advisory council of industry experts. The patron and the advisory council will decide on the thrust areas of each center spanning across training programs, research, consultancy, and development of specialized electives. An IMI faculty member will be the head of each center and he/she will work very closely with the patron and the advisory council. A team of other IMI faculty members will work with the center head in the activities of the center.
1. Center for Advanced Banking and Financial Markets
The banking and financial services industry in India has witnessed a fundamental transformation in the years since liberalization and the sector has grown in tandem with the growth of the rest of the economy. The impressive growth of this sector has been contributed by reforms and the building of appropriate institutions resulting in it engaging the attention of the policy makers. With this in mind the
objectives of this Center would be:
2. Center for Family Business and Entrepreneurship
Family Business contributes to 60-70 percent of GDP of most developed and developing countries and India is no exception. Much of the retail trade, the small- scale industry and the service sector in India are family run businesses. Similarly, entrepreneurship has played and will continue to play a central role in the growth and development of our country. Among other things, India is poised to generate new business startups in the high technology area that can help it become a major competitor in the world economy. Appropriately following are the objectives of this Center.
3. Center for Infrastructure Sector Financing
Historically governments across countries have created infrastructural facilities to initiate and sustain growth and development requiring large investments for creation of roads, power, ports, airports, telecommunication facilities, oil exploration, oil pipelines and gas distribution systems. These infrastructure projects are largely characterized by large investments, long gestation periods, requiring specific skills. In addition to physical infrastructure, of late it has become accepted wisdom that a country cannot improve and exploit its full potential if it does not invest in its social infrastructure i.e education and health care. Considering the importance of this sector, our Center will focus on the following objectives:
4. Centre for Excellence in Manufacturing and Supply Chain Management
Manufacturing forms the backbone of any economy. Currently, the share of manufacturing in our GDP is about 15 %. The draft 'National Manufacturing Policy' seeks to increase the share of manufacturing in the GDP to 25 per cent by 2022. The manufacturing sector, which accounts for a I most 80 per cent of the index, saw its annual growth at 8.1 per cent in 2010-11. India is now being looked upon as one of the most appropriate manufacturing destinations by foreign companies, thanks to the sub continent's vast pool of resources, cost-efficient environment and skilled workforce. Supply
chain Management is closely related to manufacturing as it ensures that products are delivered to customers at the desired cost and at the right time and of the correct specifications. Managing the supply chain has become so important these days that the war between business organizations today has turned into a war between their supply chains. Recognizing the importance of manufacturing and supply chain management IMI has set up a Center for Excellence in this field. The center envisages the following activities.
5. Center for Corporate Governance and Social Responsibility
The need to redefine the role of business in society is now an imperative. The original dictum that firms exist to make profits needs to be restated that firms need to focus on the triple bottom line of profits, people and planet. Focusing on the triple bottom line becomes easier if the firm in question is regarded as a good corporate citizen. The recent directive by the Government that 2% of net profit be spent on CSR raises the issue of corporates to understand the critical difference between philanthropy and CSR. This center will assists corporates to understand this difference and ensure that in a strategic context the effort yields benefits to the organization. The Centres' objective thus will be:
6. Center for Sustainable Development
'The business of business is business" is the oft quoted reason why business managers try to steer away from discussions on sustainability. This argument is not tenable anymore since climate change, threat to biodiversity and rapid depletion of natural resources are inescapable facts. Given the unbridled consumption and rapidly depleting resources, continuing the status quo is not acceptable and thus there is an urgent need to seriously address issues of sustainable development. The focus of the Center would be, as follows:
7. Centre for Human Values and Leadership
The human values signify ideas, actions and standards that individuals, organizations and societies find important, worthwhile, desirable or good. They include concerns with human happiness, well-being and nurturance. Value-driven leadership upholds and strengthens the a bove concerns in thei r respective spheres of influence. In times of major shifts in socio-economic order, the existence of human values is threatened and their relevance questioned. However, values being the only enduring force in maintaining unity in diversity, need to be preserved and strengthened with new vigor. The mission of the Centre of Human Values and Leadership thus is to promote reflectiveness about human values and value- driven leadership through research, public discourse, education and training focused on value-conflict and leadership in the contemporary times. The objectives of
the centre will be:
8. Centre for Management of Innovation and Technology
CMIT is an institutionalized effort designed, on the one hand, to support and fosters innovative solutions to challenges within client organizations and helping them to resolve issues arising out of management of technology, and on the other, to promote improvements in productivity of the unorganized sector. Apart from addressing the needs of enterprises in the formal and informal sectors, the Centre also looks at the concerns of the central and state government departments, R&D institutions and development agencies with regard to innovation and technology management. The prime focus of the Centre is to make Indian economy, industry, and business more competitive, nationally and internationally.
9. Centre for Social Sector Governance
While business schools usually deploy their expertise in research and consultancy for the benefit of the corporate world for ensuring and enhancing private profitability, IMI feels that social developmental needs cannot be ignored. The agenda of a B-school needs to go beyond corporate profits or even increasing GDP to raising living standards and ensuring equitable, democratic and sustainable development. Development is not merely increase in employment, incomes and GOP; it implies the overall quality of life, expansion of individual choices and the ability to access them. To achieve these ends, social sector institutions, programs and activities have to increase their contribution. Formulation of appropriate policies and programs and their effective implementation should be the objectives of good governance. IMI intends to play a catalytic role and help in achieving these objectives.