Jamnalal Bajaj Institute of Management Studies: Teaching Practicality

Buildings do not make institutions," said Kavita Laghate, associate professor at Jamnalal Bajaj Institute of Management Studies (JBIMS) when asked why the institute does not have a campus. Though JBIMS functions out of a drab, four-storey building in south Mumbai, it has an envious location. "Unlike other colleges, which are usually located on the outskirts of cities, our B-school is at a prime location near Nariman Point, the financial district of Mumbai," she added.

Founded in 1965, JBIMS was started by Mumbai University's Department of Management Studies in collaboration with Graduate School of Business, Stanford University.

"Students here get to interact with others from diverse cultures, backgrounds and this helps in enhancing their overall learning process," said Stephen D'Silva, director of JBIMS.

The B-school has only five permanent faculty members, but its visiting faculty includes established professionals from varied sectors and alumni. "Management cannot be taught out of textbooks and one needs the visiting faculty from industry who bring in their practical knowledge which can be applied by the students to their theoretical learning," said former CEO of Tata Financial Services F.J. daCunha, an alumnus who teaches strategic management.

The 3,000-strong alumni base helps the school's functioning in many ways - be it the alumnus-student mentorship programme, to guest lectures, the alumni form a major part of the life of the present students at the B-school.