International Management Institute (IMI) plans to increase its focus on executive education. It also plans to rope in more companies to sponsor candidates for its executive MBA (master of business administration) programme. Pritam Singh, director general, IMI, said this financial year, the institution was targeting revenue of Rs 24 crore from executive education and management development programmes.
IMI's overall targeted revenue for 2013-14 is Rs 45 crore.
IMI offers the executive MBA programme for corporate executives in the age bracket of 31-39 years, with average experience of eight to 10 years. For this programme, a full-time, 15-month course, the companies concerned choose the candidates. The course includes 10 and a half months of course work at the Delhi campus, six weeks at a partner business school in Europe/US and three months of project work that can be conducted in the company the participant is employed with.
Singh said IMI wanted companies to send three to five candidates each.
IMI has already received accreditation from the South Asian Quality Assurance System and the Association of MBAs. Singh said the application for accreditation to Association to Advance Collegiate Schools of Business had been accepted, and IMI expected to complete the process in two years.
"Our aim is to have more executive MBAs, so that the placement burden can be reduced," Singh said. Of the 180 students graduating from this year, 12 are yet to be placed. Singh said they would be placed in two weeks. He added while placements weren't a concern, the quality of placements was important. "Students had expected salary packages of more than Rs 12 lakh. But now, they have scaled down expectations. Therefore, we have decided we would be selective in choosing companies for placements. We want the salary packages to rise from the current Rs 9.5 lakh to Rs 15 lakh in 2014," Singh said.
In its executive MBA programme this year, IMI has 75 candidates. Of them, 15 are foreigners. The institution is planning to start part-time executive MBA courses from this year at its new campuses in Kolkata and Bhubaneswar. It has already conducted 11 management development programmes in Kolkata and three in Bhubaneswar.
IMI also has plans to consolidate its Kolkata and Bhubaneswar campuses. "Students still prefer to study at the New Delhi campus. We had 25 students in Kolkata and 16 at the Bhubaneswar campus. These students have passed out and have secured placements. This year, we plan to have 40 and 30 students in Kolkata and Bhubaneswar, respectively. We would only take students with a CAT (Common Admission Test) percentile of 75 or more," Singh said.
Apart from executive education, IMI would also start a management programme for family-managed businesses. It would also consider strengthening research output and providing additional funds for research activities.