IMI, Bhubaneswar 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 focussed Centres of Excellence will go a long way in harnessing this competency and dove tail it into a meaningful intellectual output.
The output of each centre will be as follows:
The following Centres of Excellence are thus being setup at IMI, Bhubaneswar:
Each centre 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 centre spanning across training programmes, research, consultancy and development of specialized electives. A faculty member will be the head of each centre and he/she will work very closely with the patron and the advisory council. A team of other faculty members will work with the centre head in the activities of the centre.
Centre for Corporate Governance and Social Responsibility
Business is undergoing a paradigm shift the world over. Operations of business organizations are under tight scrutiny from multiple stakeholders including regulators, shareholders and investors, customers, pressure groups, and the public at large. Corporate scandals are making big news and leading to crumbling of well-settled business empires. In this context, corporate governance and corporate social responsibility are the two areas which hold the key to the success of companies. Particularly with the increased emphasis on CSR and corporate governance in the Companies Act, 2013 and amendments in Clause 49, Government of India has conveyed a clear message to the Indian corporates that responsibility and good governance should be the foundation for any good business.
The introduction of mandatory spending requirements for CSR and stringent rules with respect to corporate governance leads to some follow up questions,
Centre for Innovation and Technology
The Centre of excellence for innovation & technology at IMI, Bhubaneswar is established with a vision to bridge the knowledge gap between development and application of technology. The centre would act as a conduit for a technology’s journey from being an invention to become an innovation. There are many organizations which harbor and promote incubation centres for development of technology or inventions. However, innovations are inventions that offer a clear benefit to the customers, a benefit that satisfies a market need, want or desire. It is essential since, ultimately, customers do not buy inventions, they buy innovations.
The centre would position itself as an establishment lower down the order in the channel, between the incubation centres and the market. With our competencies in the area of understanding the market through marketing research, business analytics, web analytics; assessment of the technology; determination of its financial impact; quantification of its human impact; and, strategizing for its commercialization, we are in a unique position to claim the role of the facilitator of technology, if not harbinger. To attain our objective and strengthen our positioning, we would tie-up with organizations at both ends of the chain. A strategic alliance with a technology incubation centre would help us in better understanding of flow of invention and a tie-up with NGOs will take us closer to the market, particularly the underprivileged ones.
At the same time, as our competencies expand and our resources extend, we would be thinking of forward and backward vertical integration by aiding and abetting germination of new technology, as well as reaching out to the market. This would broaden our horizons of functions and enable us to contribute more to the society and the nation.
Thus, the centre is envisaged to act as a catalyst for diffusion of innovation into the targeted social system. It would usher in a strategic approach for amalgamation of technology with the target. It would provide a platform for collaborative partnerships with various stakeholders. It would facilitate integration of industry, government, academic and non-government organizations to bridge the gap between the product and the need.
The centre is proposed to be established with the following objectives:
The centre proposes to carry out following activities in order to fulfill our objectives:
Centre for Management Development (CMD)
To cater to the growing demand of management development and continuing education of executives, managers and officers of public and private sector organizations in the country, Centre for Management Development (CMD) is established in International Management Institute (IMI), Bhubaneswar.
The centre will function under the Chairmanship of Dr. Arun K. Rath, Former Secretary of Ministry of Human Resource Development, Government of India and currently Chairman & Professor, Centre for Corporate Governance & Social Responsibility, IMI New Delhi.