THE TIMES OF , NEW 22 TIMES BUSINESS | DESI DEAN THURSDAY, MAY 6, 2010 FAMOUS HBS ALUMNI INDIAN CONTINGENT B-School Megabrand George W Bush Meg Whitman James Wolfensohn Ajit Jain C K Prahalad P Chidambaram ounded in 1908, (MBA-1973) (MBA-1979) (MBA -1959) (MBA -1978) (DBA-1975) (MBA-1968) Finnovated the case study method of research and President of United President and CEO of President of World Currently heads several Globally known Union cabinet minister teaching - now widely used by B-schools — in 1920. States (2000-2008) eBay (March 1998 to Bank (July 1995 to reinsurance businesses management for home affairs & former It's routinely ranked among the top 10 business March 2008), Republican June 2005) for Berkshire Hathaway guru, author of finance minister. Lok schools globally, but ratings don't really candidate for Governor and is likely to be bestseller “The Sabha MP for 7 terms of California in Jamie Dimon Jeffrey Immelt as Warren Fortune at the do justice to its Rahul Bajaj November 2010 polls (MBA-1982) (MBA-1982) Buffet’s Bottom of the impressive brand (MBA-1964) (ADVANCED CEO and chair- Chairman and CEO of possible Pyramid: Rick Wagoner Robert S McNamara MANAGEMENT equity, which man of JPMorgan General Electric. The man successor Eradicating Chairman of (MBA-1977) (MBA-39) PROGRAMME - ensures its Chase & Co who replaced the legendary Poverty Bajaj Auto graduates get a Chairman & CEO First Jack Welch Through 1971) ‘Harvard premium’ of General president Profit Chairman, on salaries — and Motors of Ford from Lewis Paul Bremer Sir Martin Sorrell Henry M Paulson Jr (’04)” Michael from outside the (MBA-1966) (MBA-1968) (MBA-1970) to which indirect Bloomberg 1998 family of ’ treasury tribute was paid (MBA-1966) to 2009 Henry Ford US Administrator of CEO of WPP secretary from by the bestseller, Current Mayor (1960). US Iraq charged with Group, the July ’06 to Jan (MBA-1981) of New York Secretary overseeing the world's largest ‘What they don’t ’09. Previously City, founder of Defence from 1961 reconstruction communica- Vice-chairman and teach you at chairman & & 88% owner to 1968 & president of of the country tions managing director Harvard Business CEO of Gold- of Bloomberg the World Bank from from May 11, 2003 services of Mahindra and School’ man Sachs LP 1968 to 1981 to June 28, 2004 group Mahindra Ltd

CAPTAINS SPEAK IIT taught him to think out of box He is an exceptional human being. A rare combination of a visionary and an out-of-the-box Hemali Chhapia & thinker who is incredibly humble. He has been emphasizing Amrita Ghaswalla | TNN WITH BUSINESS EDUCATION AT AN INFLECTION POINT, WE MUST How HBS selects that businesses should be socially responsible. fter spending four years STRIVE TO EQUIP FUTURE LEADERS WITH THE COMPETENCE AND its dean Amit Chandra | MANAGING DIRECTOR | BAIN CAPITAL INDIA AND BROTHER-IN-LAW OF NITIN NOHRIA on the verdant Powai CHARACTER TO ADDRESS EMERGING GLOBAL BUSINESS AND SOCIAL There is an advisory committee of campus of IIT-Bombay, CHALLENGES the business school that Drew Faust, 21-year-old Nitin Nohria I have known Nitin Nohria for several NITIN NOHRIA the Harvard University president, surely knew one thing: ‘‘I consults. The committee takes a years — both professionally and didA not want to be a chemical engi- personally. One of the highlights of view of probable candidates who neer. That is the most important could become the dean of the my visit to Harvard has always been thing I learned in IIT.’’ But when he business school. Over several my customary chat with him. He has came to receive his distinguished months, Faust consulted the 15- a way of bringing in new perspectives alumnus award in 2007, he told the member advisory committee that into a discussion; even in our IT institute director Ashok Misra that consisted of 12 faculty members business, he would always bring out it was here that he learnt to think from the B-School itself and three nuances like the HR core competency of the industry out of the box. The year 1984 was professors from other schools when this young chemical engineer within the University. S Ramadorai | V-C | TATA CONSULTANCY SERVICES walked out of his dull whitewashed They met almost every week. room, his was the time when hostel The Harvard president also sought I was a member of the HBS Board of Dean’s Advisors, for life had seen some luxurious addi- advice from other members of the over six years, and during the last leadership transition, a tions — ceiling fans had just been Business School community for number of Indian names like Srikant Datar, Krishna Palepu, installed and students were charged selecting the dean. Tarun Khanna and Nitin Nohria kept popping up as Rs 20 a month for that comfort. Nohria will succeed Jay Light, candidates. So this time too, there was a sense of Déjà vu, Nohria was a popular name dur- who in December 2009 announced ing those years; he was on several stu- and an Indian becoming the Dean of HBS seemed a stretch his retirement at the end of the of imagination. Nitin’s appointment is an advertisement to dent committees, recalled Shanta 2009-10 academic year. Light served Sreeraman, a staff member who has the world about the quality of human resource and talent in as HBS dean for five years and India. Most of India may not understand how prestigious been with the institute for over three spent four decades as HBS faculty decades. Young Nohria spent time the achievement is, but for America and for most of the member. TNN mixing chemicals and his teacher Western world, Harvard is synonymous with success. Arvind Kuchadkar would watch him and tell himself that the young lad picked up while carving his niche havan, his former faculty at IIT-B, into the rational explanation of every nect between mission and everyday Anand Mahindra | V-C | MAHINDRA & MAHINDRA LTD was cut out for management. ‘‘His in- in management with ethics.’’ Son of who used to see him play football, he action and reveals that there ‘‘often practice?’’ he asks in his work ‘Hand- terest was not limited to engineering. K K Nohria, former chairman of has only upped the bar for himself. lies a willingness to hurt or even de- book of Leadership Theory and Management education is at the I could see his leaning towards a va- Crompton Greaves, did go on to Nohria’s book — Master Passions — stroy others to fuel our own ambi- Practice’ As the new HBS head, he’ll crossroads today. Take a look at what riety of subjects including humani- study management at the Sloan his former teachers says, reflects a tions or quench the fires of envy’’. probably bridge those two points, has happened in the world in the last ties and management.’’ School of Business at MIT. kind of truth few human beings want A student who did not make it to and that’s why his former teacher S two years. People are questioning In fact, Kuchadkar who has been Later he went on to become the to even acknowledge. The book, co- the IIT in the first round, Nohria has L Narayanamurthy believes he’ll live management education. Nohria’s in touch with his student believes, youngest professor when he went to authored with a faculty from the not shied away from taking the tough up to the HBS’s formal mission state- strong sense of values will fashion ‘‘Nitin will bring freshness to Har- Harvard in 1988, and now, the Toronto University, gets under the road. Or for that matter, ask harsh ment: ‘‘to educate leaders who make the new management education. He vard because of all that he has youngest dean. Nohria, said K P Mad- skin of human beings — it delves questions. ‘‘Why is there a discon- a difference in the world.’’ will reinvent it in some way, which will bring long-term credibility to corporates INDIAN MANAGEMENT NIRMALYA KUMAR | CHAIRMAN | PIRAMAL HEALTHCARE Professor of marketing at London Business It’s proudest moment Nitin is taking charge at HBS at this stage when people are School, Kumar has also worked as a horse questioning the role of management eduction is a great handicapper and as a DJ which step as I am sure he will come out with very new and he finds similar to his current work. of my life: Nitin’s dad different ideas on how to make management education GURUS Formerly professor of Marketing more relevant in today’s world at International Institute for Nitin Nohria’s appointment as dean of Shubham Mukherjee | TNN and said he wanted to change Ajit Rangnekar | DEAN | INDIAN SCHOOL OF BUSINESS Management Development, and study organisational be- Harvard Business School reflects the growing Switzerland and visiting professor Mumbai: Kewal Nohria, former haviour, to which I asked why at Harvard Business School and Nitin has done India proud. A brilliant predominance of Indian gurus in academics, chairman of Crompton Greaves and was satisfied at what he had thinker and a teacher, he epitomises Northwestern University, Kumar and father of Nitin Nohria, who to say... I’m glad it proved to be especially management and economics. the growing list of Indians who are has been the consultant, coach has been appointed as dean of the right choice,’’ Nohria gushed. putting India centre stage in the TOI presents some of the world’s best known and seminar leader to over 50 the prestigious Harvard Busi- Nitin’s preference towards field of academia and thought Indian-origin gurus Fortune 500 companies ness School, is happy that his re- teaching became apparent turn to India from the US got around 1987-88 when Nohria was leadership’ postponed due to the volcanic the chairman of Crompton BALA BALACHANDRAN K V Kamath | CHAIRMAN | ICICI eruptions in Iceland, which dis- Greaves. ‘‘He had just finished Educated at Annamalai and Carnegie Mellon University, C K PRAHALAD rupted flights all over Europe his PhD from Sloan then and I am delighted that another person of Indian origin has Professor Balachandran has been teaching at Kellogg and the Americas recently. It’s was visiting us. I wanted him to The godfather of them all. Prahalad, who died recently, wrote the School of Management since 1973. One of three Kellogg been selected to be Dean of HBS. I have known Nitin for a bestseller Fortune at the Bottom of the Pyramid, and along with another thing that the family be an entrepreneur and had faculty members who started the Information Resource knew about the rumours sur- lined up a JV with a company few years and have no doubt that his experienced Gary Hamel, coined the term 'core competence' Management Programme (IRM), Balachandran's research rounding the appointment of his for him. It was all set when he leadership will help HBS maintain its leading position for in an article written in 1990 deals with performance evaluation, cost management, son in the hallowed precincts of asked me... do you mind if I management education audit planning, allocation models, and forecasting Harvard, and Nohria admitted teach? I said do what makes you Rahul Bajaj | CHAIRMAN | BAJAJ AUTO AMARTYA SEN candidly that the second reason happy.’’ Nitin joined Harvard DIPAK C JAIN had also played a part in the post- immediately after and the rest Nobel laureate Amartya Sen is globally known The top job in my profession is the Deanship at HBS. It is Before Nitin Nohria, Dipak Jain held the distinction of ponement of his and his wife’s as they is history. for his work on welfare economics. At present trip back to Mumbai. So what were the intellectu- really a tribute to Nitin to be appointed the 10th Dean of being the dean of one of the world's best business he is professor of economics and philosophy When TOI caught up with al thoughts that shaped Nitin’s HBS. Clearly Nitin has achieved the highest distinction schools. Having served as dean of the Kellogg School at Harvard University. He is also a fellow of Nohria in , the proud fa- career as a professional. Nohria possible. More than anything, Nitin’s appointment signals Trinity College at the University of Cambridge, from 2001-2009, he is presently teaching Entrepreneurial ther could not hide his joy over is quite direct. ‘‘Though Nitin’s that HBS aspires to be a truly “global” enterprise where he was Master from 1998 to 2004 — Studies and Marketing at the Kellogg School of his son’s appointment. ‘‘The fam- initial thoughts were guided by the first Indian academic to head Management, where he has been a member of the ily is overwhelmed. It was a his father’s, the thoughts that Vijay Govindarajan | FOUNDING DIRECTOR | CENTRE an Oxbridge college faculty since 1987 dream come true and the proud- shaped his career later includ- FOR GLOBAL LEADERSHIP AT THE TUCK SCHOOL OF BUSINESS est moment of my life,’’ he told ed business as a tool to serve so- AT DARTMOUTH COLLEGE VIJAY GOVINDARAJAN TARUN KHANNA TOI over the phone. Every father ciety and ethical business.’’ wants the son to do better than Since both are professionals Known for his book 'Billions of It is a new chapter for management education. I am him and Nohria feels that though in their own right but Nitin more Widely regarded as one of the world’s leading experts on strategy Entrepreneurs: How China and India Are excited and thrilled about the choice. Not only will Nitin and innovation, he is founding director of the Centre for Global Reshaping Their Futures and Yours', he himself had done quite well of a teacher, it was difficult not as a professional, Nitin had done to ask this one. Has he learnt any- take Harvard to new heights but also give management Leadership at the Tuck School of Business at Dartmouth College. Tarun Khanna studied at Princeton and education a new perspective.It is a big moment for Govindarajan received his doctorate and his MBA with distinction better for himself. thing from him professionally? Harvard. Known as an expert on As for the celebrations, they Nohria does not ward it off and Indians to celebrate from the Harvard Business School. Recently he took a leave from emerging markets, he are happening on Saturday when described in great length the ex- Dr Dipak C Jain | WHO SERVED AS THE DEAN OF Tuck and joined GE as Professor in Residence and Chief Innovation currently teaches in Nitin’s sister, their friends and changes they often had on the Consultant for one year Harvard's executive some from the faculty join in for latest management thoughts. ‘‘I KELLOGG SCHOOL OF MANAGEMENT BETWEEN 2001-2009 education programmes a party at Nitin’s residence in got a clearer understanding of RAM CHARAN and is faculty chair for Boston. So what did he want the role of leadership and the This is a sign that Indians are coming HBS activities in India Nitin to do when he grew up... role of human capital in a busi- of age and a sign of international One of the world’s most popular business advisors, what was his advice? ‘‘My advice ness and that has often helped recognition of capacity of Ram Charan has done his MBA and PhD from HBS. MOHANBIR SAWHNEY was to pick up whatever profes- me when I sat on the boards of Indians. Nitin’s appointment Before becoming a full-time consultant in 1978, sion he wanted as long as he various companies.’’ is very commendable and Globally recognized scholar and consultant in strategic he taught at the Harvard Business School, the reached the top. He was study- As to his advice to Nitin, such people becoming brand marketing, Prof. Sawhney is widely recognized for his Kellogg School of Management, and Boston ing at the Sloan School in the US Nohria says that he has asked ambassadors of India is a research in e-business. A fellow of the World Economic University. He has co-authored the best back then and had taken up fi- his son to be his real self and very great thing to happen Forum, he is also the alumni of Wharton School, IIM, seller ‘Know How and Execution’ nance. He then came up to me show humility. Calcutta and IIT, Delhi Venu Srinivasan | CMD | TVS EU tries to calm market fears over debt crisis ABB buys US co for over $1bn Brussels: The European Commission nomic recovery which is still rather Monetary Fund. Investors are wor- ated the euro, governments agreed Geneva: Swiss-Swedish en- casting loads that can help in- on Wednesday said an EU bailout for modest and somewhat fragile, it is ab- ried Spain and Portugal may need not to let their deficits exceed 3%, but gineering group ABB Ltd said Ventyx operates in tegrate solar, wind and other debt-laden Greece would help stop the solutely essential to contain the bush- even larger debt bailouts if their bor- the rules were soon broken, even be- on Wednesday it is acquiring more than 40 renewable energy. crisis spreading to other European fire in Greece so that it will not be- rowing costs get out of control. fore the crisis. US software firm Ventyx for countries, with an ABB chief executive Joe countries because the Greek case is come a forest fire and a threat to fi- Europe’s total government deficit In its scheduled spring forecasts, more than $1 billion in a bid Hogan said the acquisition “unique.” Presenting a small upward nancial stability for the European has tripled since 2008 and is expect- the EU executive said the 16-nation to become a key player in en- emphasis on US and would be “cash-generating: in revision to this year’s growth forecast union and its economy as a whole.” ed to peak this year at 7.2% of gross currency bloc’c economy will grow ergy management software Europe. It employs a growth market. The pur- for Europe, EU Commissioner Olli He denied that any rescue plans domestic product in the EU and 6.6% by 0.9% in 2010, up somewhat from a and smart grids. 900 people and chase, subject to regulatory Rehn said the market’s fear that Spain were being prepared for Spain. in the euro-zone, the EU said. November forecast of 0.7%, despite ABB said Ventyx, based in approval, is expected to be and Portugal would be enveloped in “We are not going to propose be- While Greece’s deficit is not the the crisis. Growth in the euro region Atlanta, will become a single reported 2009 completed by the end of June, the crisis is “overshooting.” cause there is no need to propose fi- highest in the EU, concerns about the will be dragged down, however, by the unit in its power systems di- revenues of about ABB said. It said it would pay “I want to underline that Greece nancial assistance,” he said in a Brus- government’s ability to pay it back shrinking economies of Spain, Greece vision and provide energy $250 million for the company in cash, bud is a unique and particular case in the sels news conference. are higher because of its high debt and Ireland. The full 27 nation Euro- management. A joint state- did not give an exact amount. EU” because of its heavy debt level Labour unions protested on the level and weak economy. pean Union economy is expected to ment said Ventyx operates in ABB said the acquisition The statement said one of and because it “cheated” on its sta- streets of Athens, rejecting spending Britain is set to have the highest grow at a faster clip of 1%. Official more than 40 countries, with from San Francisco-base Vista Ventyx’s products helps util- tistics for years, he said. Containing cuts and higher taxes that would come deficit in the EU at 12% of GDP this data also showed retail sales in the an emphasis on US and Eu- Equity Partners would triple ities and grid operators match the Greek crisis is crucial for the with a euro110 billion ($144 billion year. The Greek deficit is seen at 9.3% eurozone were flat in March, disap- rope. It employs 900 people the market available to the electricity generation with economies of all of Europe, he said. bailout) package for Greece from the of GDP, compared to 9.8% in Spain, pointing market expectations for a and reported 2009 revenues of company in energy manage- consumption, even down to “In order to safeguard the eco- European Union and International and 11.7% in Ireland. When they cre- small increase. AP about $250 million. ment software, including fore- the household level. AP