Harvard Business School
|Harvard Business School|
|Type||Private business school|
|Endowment||US$2.7 billion (2012)|
(1,917 in MBA)
(100 in Ph.D.)
Boston, Massachusetts, United States
Harvard Business School (HBS) is the graduate business school of Harvard University in Boston, Massachusetts, United States. The school offers a large full-time MBA program, doctoral programs, HBX and many executive education programs. It owns Harvard Business School Publishing, which publishes business books, leadership articles, online management tools for corporate learning, case studies, and the monthly Harvard Business Review.
- History 1
MBA program 2
- Rankings 2.1
- Student life 2.2
- Initiatives 2.3
- SVMP 3
- Academic units 4
- Donor programs 5
- Notable alumni 6
- See also 7
- References 8
- Sources 9
- Further reading 10
- External links 11
The school started in 1908 under the humanities faculty, received independent status in 1910, and became a separate administrative unit in 1913. The first dean was historian Edwin Francis Gay (1867-1946), who had no business background or indeed any previous connection to the business world.
Yogev (2001) explains the original concept:
- This school of business and public administration was originally conceived as a school for diplomacy and government service on the model of the French Ecole des Sciences Politiques. The goal was an institution of higher learning that would offer a master of arts degree in the humanities field, with a major in business. In discussions about the curriculum, the suggestion was made to concentrate on specific business topics such as banking, railroads, and so on....Professor Lowell said the school would train qualified public administrators whom the government would have no choice but to employ, thereby building a better public administration.... [Lowell] remarked that as the business world was developing and becoming increasingly professional, Harvard had to play a pioneering role. Harvard was blazing a new trail by educating young people for a career in business, just as its medical school trained doctors and its law faculty trained lawyers.
From the start the school enjoyed a close relationship with the corporate world. Within a few years of its founding many business leaders were its alumni and were hiring other alumni for starting positions in their firms.
|Business School Ranking|
|U.S. News & World Report||1|
HBS is consistently ranked among the foremost business schools in the world. It is tied for the #1 position with the Wharton School and the Stanford Graduate School of Business in the U.S. News & World Report ranking. #1 by the QS Global 200 Business Schools Report, #8 by Bloomberg BusinessWeek, #3 by Forbes, and #14 by The Wall Street Journal. Internationally, HBS is ranked #1 in the world by América Economía, #1 in the world by CNN Expansion, #1 in the world by the Financial Times, #5 in the world by The Economist, and #21 in the world by The Wall Street Journal. The 2014 Eduniversal Business School Ranking ranks Harvard Business School #3 in the world (after Copenhagen Business School and London Business School).
In the most recent aggregated "ranking of rankings" of US business schools, HBS ranked #5 in the Financial Times and #2 with Poets&Quants. Each of these rankings is a composite of five major MBA rankings published by Bloomberg BusinessWeek, The Economist, The Financial Times, Forbes, Wall Street Journal and/or U.S. News & World Report which is meant to eliminate anomalies and other statistical distortions that are often present in any single ranking.
Students can join one or more of the more than 80 clubs on campus. The clubs invite speakers to campus, organize trips, social events, and help forming bonds between students of similar interests. The Student Association (SA) is the main interface between the MBA student body and the faculty/administration. It is led by a four-person Executive Committee (two Co-Presidents, CFO and COO). The decision power rests with the Senate, which is composed of one senator from each section (a total of ten), the Executive Committee, and various committees made up of section officers. Intramurals are also a major part of the student life, especially in the first year. Sections form teams and compete with each other in basketball, flag football, volleyball, soccer and many other inter-mural sports.
The rigorous schedule of class work is often tempered by high energy social functions and perennial events such as the cross-dressing Priscilla Ball, the spring Newport Ball held at a Newport, RI, mansion, and the winter Hollidazzle Ball usually held in Boston, MA.
HBS has outlined several initiatives for developing MBAs, including environmental sustainability, healthcare, globalization, leadership, and social enterprise.
The Summer Venture in Management Program (SVMP) is a one week management training program for rising college seniors designed to increase diversity and opportunity in business education. Participants must be employed in a summer internship and be nominated by and have sponsorship from their company or organization to attend.
The school's faculty are divided into ten academic units: Accounting and Management; Business, Government and the International Economy; Entrepreneurial Management; Finance; General Management; Marketing; Negotiation, Organizations & Markets; Organizational Behavior; Strategy; and Technology and Operations Management.
In fall 2010, the Sir Dorabji Tata Trust, and the Tata Education and Development Trust, which are philanthropic arms of the Tata Group gave HBS its biggest ever international donation of $50 million. This donation is funding Tata Hall, named after Ratan Tata (AMP ’75), the chairman of Tata Sons Ltd. The facility will be devoted to the Harvard Business School’s mid-career Executive Education program. It will be seven or eight stories tall with about 150,000 gross square feet. It will house approximately 180 bedrooms in addition to academic and multi-purpose spaces.
Located in the northeast corner of the HBS campus, Tata Hall will complete the Executive Education quad, which currently includes McArthur, Baker, and Mellon Halls (residence), McCollum and Hawes (classroom), Kresge (dining), and Glass (administration). Its construction started in December 5, 2011 and its completion is scheduled for December 2013.
- Marla Malcolm Beck '98 - Founder & CEO Bluemercury
- William Ackman '92 - Hedge Fund Manager
- Timothy I. Ahern - U.S. Air Force Major General
- Mark Albion '82 - Author, Social Entrepreneur, Co-Founder of Net Impact
- Gabi Ashkenazi - Chief of the General Staff, Israel Defense Forces
- Rahul Bajaj, '62 - CEO of Bajaj Auto
- Raymond W. Baker, '60 - Director of Global Financial Integrity
- Jim Balsillie, '89 - Co-CEO of Research In Motion and billionaire
- Tarek Ben Halim, Investment Banker and founder of Alfanar, a venture philanthropy organization
- Guy Berruyer - French CEO of Sage Group
- Julie Bishop, '96 - Australian Minister for Foreign Affairs
- Len Blavatnik '89 - Ukrainian-American businessman
- Michael Bloomberg, '66 - Mayor of New York City
- Ana Patricia Botín - CEO of Santander UK
- Jayant Sinha '92 - Union Minister of State for Finance, India 
- Dan Bricklin, '79 - Inventor of the electronic spreadsheet
- Charles Bunch, '79 - CEO of PPG Industries
- President of the United States, former Governor of Texas
- Chase Carey, '80 - President of News Corporation
- Cynthia Carroll, '89 - former CEO of Anglo American PLC
- Donald J. Carty, '71 - Chairman and CEO of American Airlines
- Elaine Chao, '79 - U.S. Secretary of Labor
- P Chidambaram, '68 - Former Union Minister of Finance, India
- Teresa Clarke, former managing director Goldman Sachs 2004 - 2010 CEO and founder Africa.com
- Vittorio Colao, current Chief Executive of Vodafone Group
- Stephen Covey, '57 - Self-help Author
- Morgan Stanley
- Ray Dalio '73 - founded Bridgewater Associates
- John D'Agostino '02 - MD of Alkeon Capital and subject of best-selling book "Rigged: The True Story of a Wall Street Novice who Changed the World of Oil Forever”
- Daniel A. D'Aniello, '74 - Co-founder of The Carlyle Group
- William Legge, 10th Earl of Dartmouth, UKIP Member of the European Parliament
- Y C Deveshwar - Chairman and Chief Executive Officer of ITC Limited
- Anne Dias-Griffin, '97 - Hedge Fund Manager of Aragon Global Management
- Elisabeth DeMarse, '80 - CEO of Newser
- JP Morgan Chase
- James Dinan - founder of hedge fund York Capital Management
- Colin Drummond - CEO of Viridor and joint CEO of Pennon Group
- Donna Dubinsky, '81 - CEO of Palm, Inc.
- Erik Engstrom - CEO of Reed Elsevier
- J.P. Morgan Asset Management
- Sheldon Erikson, '70 - Chairman of the Board, President and Chief Executive Officer of Cameron International Corporation
- Nicholas Ferguson - Chairman of BskyB
- Trevor Fetter '86 - CEO of Tenet Healthcare
- Barbara Hackman Franklin '64 - 29th US Secretary of Commerce, President and CEO of Barbara Franklin Enterprises
- Morten Friis '79 - Chief Risk Officer of Royal Bank of Canada
- Shikhar Ghosh, '80 - Serial entrepreneur, MBA Class of 1961 Senior Lecturer at Harvard Business School
- Dipali Goenka - Director, Welspun Retail Ltd
- Rajat Gupta, '73 - Former MD, McKinsey & Company and convicted of insider trading in the Galleon Group case
- Fred Hassan, '72 - CEO of Schering-Plough
- Randy Haykin, '88 - Founder of The Intersection Event and The Gratitude Network
- Fritz Henderson - former President and Chief Executive Officer of General Motors
- John B. Hess, '77 - CEO of Hess Corporation
- Andy Hill, Republican, Washington State Senator from the 45th district
- Yoshito Hori, '91 - Founder, Globis University Graduate School of Management
- Jennifer Hyman - Entrepreneur
- Jeffrey Immelt, '82 - Chairman and CEO of General Electric
- Abigail Johnson, '88 - President of Fidelity Investments Personal and Workplace Investing
- Ron Johnson - former CEO of J. C. Penney
- George Kaiser - Chairman of BOK Financial Corporation
- Naina Lal Kidwai, '82 - Group General Manager and Country Head HSBC India
- Salman Khan (educator), '03 - Founder of Khan Academy
- Robert Kraft, '65 - Chairman and CEO of The Kraft Group, owner of the New England Patriots and New England Revolution
- A. G. Lafley, '77 - Chairman of the Board of Procter & Gamble
- Anthony Leung, '82 - Financial Secretary of Hong Kong
- Michael Lynton, '87 - Chairman and CEO of Sony Pictures Entertainment
- William MacDonald, '42 - Christian preacher and writer in the Plymouth Brethren movement
- Lawrence Marcus, World War II veteran and VP at Neiman Marcus
- Prince Maximilian of Liechtenstein, '98 - President and CEO of LGT Group
- Christopher McCormick - President and Chief Executive Officer of L.L. Bean
- Tom McGrath - Chairman of Broadway Across America, prominent Broadway and Film Producer
- Robert McNamara - former Secretary of Defense and former President of the World Bank
- W. James McNerney, Jr., '75 - CEO of Boeing
- Christopher Michel, '98 - Founder & former CEO of Military.com and Founder & former CEO Affinity Labs
- Karen Mills, '77 - 23rd Administrator of the Small Business Administration
- Ann S. Moore, '78 - CEO of Time Inc.
- Michael Mullen - Chairman of the Joint Chiefs of Staff, United States armed forces
- David Nelms, '87 - CEO of Discover Financial Services
- Grover Norquist, '81 - president of Americans for Tax Reform
- Neil Pasricha, '07 - author and speaker
- Henry Paulson, '70 - former U.S. Secretary of the Treasury, former CEO of Goldman Sachs
- John Paulson - president of Paulson & Co., a New York-based hedge fund
- Mark Pears - CEO of William Pears Group
- Joseph R. Perella, '72 - Founder, CEO of Wasserstein Perella & Co. and Perella Weinberg Partners
- Mark Pincus - CEO of Zynga
- A. Sivathanu Pillai, '91 - CEO and MD of the BrahMos Aerospace and Chief Controller of the DRDO, India.
- Gary Rodkin - CEO and President of ConAgra Foods
- Mitt Romney, '75 - 70th Governor of Massachusetts, co-founder of Bain Capital, 2012 Presidential candidate of the Republican Party.
- Sheryl Sandberg, '95 - COO of Facebook
- George Schussel - Founder and former chairman of Digital Consulting Institute, founder of Jellicle Investors, Inc.
- Stephen A. Schwarzman, '72 - Founder of Blackstone Group
- Jeffrey Skilling, '79 - Former CEO of Enron, convicted of securities fraud and insider trading
- Gunnar Sønsteby, '47 - Norwegian World War II resistance fighter, the most highly decorated person of Norway
- Robert B. Stobaugh - Harvard Business School emeritus professor of Business Administration
- Gerald L. Storch - Chairman and CEO of Toys "R" Us, Inc.
- Ratan Tata, '75 - Chairman and CEO Tata Sons
- John Thain, '79 - former CEO of Merrill Lynch
- Whitney Tilson '94 - Managing Partner of T2 Partners
- Gerald Tremblay, '72 - Mayor of Montreal, former Quebec's Minister of Industry, Commerce, Science and Technology
- Stacie Scott Turner - Cast of The Real Housewives of DC
- Richard Urman, '09 - Physician, author
- Vikram Gandhi, '89 - CEO and Founder VSG Capital, Ex Vice-Chairman Crédit Suisse
- Theodor Sproll, '05 - Rector of the Baden-Wuerttemberg Cooperative State University Loerrach
- Daniel Vasella, '89 - President of Novartis AG
- David Viniar, '80 - CFO and Executive Vice President of Goldman Sachs
- Rick Wagoner, '77 - Former CEO of General Motors
- John C. Whitehead '47 - former Co-Chairman of Goldman Sachs
- Meg Whitman, '79 - President and CEO of Hewlett-Packard
- Zeeshan Zaidi, 00 - President and Co-Founder of Host Committee, Lead singer and guitarist for The Commuters
- Ashish Nanda, − Director of Indian Institute of Management Ahmedabad, India
- Harvard/MIT Cooperative Society, campus bookstore
- List of Harvard University people
- List of Ivy League business schools
- "Annual Report 2012". HBS.edu.
- Esther Yogev, "Corporate Hand in Academic Glove: The New Management's Struggle for Academic Recognition--The Case of the Harvard Group in the 1920's," American Studies International (2001) 39#1 pp 52-71 online
- Yogev, "Corporate Hand in Academic Glove: The New Management's Struggle for Academic Recognition--The Case of the Harvard Group in the 1920's"
- Melvin T. Copeland, And Mark an Era: The Story of the Harvard Business School (1958)
- Robert M. Smith, The American Business System: The Theory and Practice of Social Science, the Case of the Harvard Business School, 1920-1945 (Garland Publishers, 1986)
- "Business School Rankings and Profiles: MBA".
- "Business School Rankings and Profiles: MBA".
- "Best Business Schools".
- "The World's Best Business Schools".
- "Ranking:Los Mejores MBA en el mundo 2013".
- "Global MBA Rankings".
- . U.S. News & World Report, 2011. Retrieved on March 17, 2011.
- "QS Global 200 Business Schools Report 2010 North America".
- "FT Global MBA Rankings 2013.". Retrieved August 27, 2013.
- "Financial Times Ranking of Rankings".
- "Poets&Quants’ Top 100 MBA Programs in the U.S.".
- "Ain't no Party like an HBS Party.".
- "Business School announces Tata gift; two initiatives". Harvard Gazette. 2012-10-14. Retrieved 2012-05-10.
- "Tata Hall Construction Pushes Ahead of Schedule". The Harvard Crimson. 2012-04-29. Retrieved 2012-05-10.
- "Tata Hall". www.hbs.edu. Retrieved 2012-05-10.
- Evans, Suzy. "Jennifer Hyman and Jennifer Fleiss". 2011 Most Influential Women in Technology. Fast Company. Retrieved 18 October 2012.
- "Mark Pears". Globalrealestate.org. Retrieved 6 November 2014.
- Cruikshank, Jeffrey L. (1987). A Delicate Experiment: The Harvard Business School, 1908–1945. Boston, MA: Harvard Business School Press.
- Broughton, P.D. Ahead of the Curve: Two Years at the Harvard Business School. (Penguin Press, 2008), a memoir
- Cohen, Peter. The gospel according to the Harvard Business School. (Doubleday, 1973)
- Copeland, Melvin T. And Mark an Era: The Story of the Harvard Business School (1958)
- Cruikshank, Jeffrey. Shaping The Waves: A History Of Entrepreneurship At Harvard Business School . (Harvard Business Review Press, 2005)
- Smith, Robert M. The American Business System: The Theory and Practice of Social Science, the Case of the Harvard Business School, 1920-1945 (Garland Publishers, 1986)
- Yogev, Esther. "Corporate Hand in Academic Glove: The New Management's Struggle for Academic Recognition--The Case of the Harvard Group in the 1920's," American Studies International (2001) 39#1 online
- Official HBS web site
- HBS alumni site
- Documentary film: "Inside the Harvard Business School Case Method"