Indian Institute of Management - Ahmedabad (IIM-A) has set itself a target of reaching up among the top five B-schools in the world.
Ashish Nanda, the Harvard-fame new director of IIM-A, and A M Naik, the chairman of board of governance of the institute revealed this to media on a previous day. They said that they are working to make the IIM-A one of the five best B-schools around the globe. Out of many reasons the duo pointed out for the IIM-A's decline in the world rankings last year, one is the comparatively low salary received by graduates due to slow economy in India.
From the top-ten positioning in 2010, IIM-A has slipped down to 19th place in the international rankings in 2013.
Professor Nanda further said that they need to gain excellence in every composition of IIM-A if they want to excel on all the parameters required for a top five ranking.
One of the important issues that need to be worked upon on priority is faculty-to-students ratio, said the chairman, adding further, “We have added eight faculty members taking the number to 91; we still need to have 20 or so more to make it an ideal composition".
Salaries offered to the faculty have been a major issue. The students passing out of IIM-A receives higher salary in comparison to that of faculty who are serving the institute for twenty to twenty-five years, and that need to be corrected as well, said said Naik, urging the Union HRD ministry to consider the situation.
The institute is also working on restructuring the board in order to bring more international members like professor Ashish Nanda, who is an alumnus of 1983 batch of IIM-A, has been a gold medalist in both IIT-Delhi and IIM-A. He pursued his M. A. in Economics and PhD from Harvard University and has been teaching at Harvard Business School and Harvard Law School for the last 25 years.
The Institutes of Management Bill that is currently under consideration in the Parliament will bring solution to these issues, hoping IIM-A.