The institute aims beyond academic excellence and focuses on ‘holistic formation’ – growth in all quotients-intellectual, social, emotional and spiritual, and intends to form competent and committed leaders who have the necessary skills to excel in the market place, who are ethical and principle-centered, who are socially conscious, and with global perspective and entrepreneurial spirit.
Loyola Institute of Business Administration (LIBA) was founded by Jesuits in Chennai in 1979 within the premises of Loyola College with the objective of achieving educational and ethical excellence. Ethics and Excellence are important elements of LIBA’s DNA. One of the main reasons for Jesuits to get involved in business education is to form ethical, principle-centred and socially responsible leaders. It believes in evolving an atmosphere and programs that would help in developing attitudes, values and beliefs that form managers’ world view and professional identities. One of the hallmarks of Jesuit education is ‘Magis’ -‘excellence’ – to strive continuously for the best, without getting easily satisfied and without becoming complacent with our achievements.
Implementing Jesuit Values in Business Education
LIBA primarily offers a two-year full-time PGDM course that is approved by AICTE, accredited by NBA and recognized by AIU. It also offers other programs like part-time PGDM (AICTE approved), Ph.D. (affiliated to University of Madras) and one-year executive diploma programmes. Management Development Centre offers various customized programmes (short-term and long-term) with a focus on skill development. The Institution works with an undeterred zeal to offer its students with the best education by blending classroom and experiential learning. In consonance with Jesuit charter, opportunities are provided to underprivileged and marginalised sections of society. Students are drawn from all parts of the country; more than two-thirds have work experience; and nearly half of them are women students.
LIBA has established various Centres of Excellence: Centre for Business Ethics and Corporate Governance (2005); Centre for Logistics and Supply Chain Management (2007); Prof.C.K.Prahalad Centre for Emerging India (2011) focusing on social innovation and social entrepreneurship; Incubation Centre (2016) mainly promoting social enterprises and a new centre of excellence in collaboration with TCS – Centre for Business Analytics and Insights is proposed to commence this year.
Revamping Academic Procedures
LIBA constantly focuses on reviewing the academic programmes offered to make them relevant in the rapidly changing business environment. The curriculum of the flagship full-time PGDM program has been completely revamped with an emphasis on depth, relevance and skill development. New core courses such as Logic, Introduction to Financial Markets and Multivariate Analysis, and elective courses like Sports Management, Sales and Marketing Analytics, Digital Marketing – Web Analytics, HR-Analytics, Emerging Trends in Leadership, Supply Chain Analytics, Managing Family Business, Business History and Politics, International Negotiations for Business have been introduced; Action Based Learning (ABL) has been introduced as part of the summer internship with the assistance of the University of Michigan, USA.
Emphasis on Ethics and Social Service
The institute offers special courses on business ethics, sustainability and social environment of business, and has established the Centre for Business Ethics and Corporate Governance which conducts the Mother Teresa Award and the Business Ethics Conference. A three-day rural visit is part of the course-work to understand and experience the lives of the underprivileged and downtrodden. LIBA’s outreach agenda is driven by its motto ‘reach the under-reached’ and aims at inculcating in its trainees a deep sense of social responsibility, especially with a marked compassion for the downtrodden.
The Visionary Leading LIBA
The Director of LIBA, Fr. P. Christie, SJ, is one of the key persons closely associated with LIBA since 1999 in various capacities, such as Assistant Professor & Associate Professor of Decision Sciences, Dean and Director. A doctorate in Decision Sciences, Fr.Christie teaches Data Analysis and Research Methodology. He was instrumental in setting up the Centres of Excellence at LIBA, establishing International collaboration and also fostered linkages with more than a dozen foreign universities across five continents, strengthening the industry collaboration and increasing the intake of students from 60 to 120 students for the full-time PGDM programme. He took the initiative to construct hostels for male and female students and has received the approval to construct a new state of the art building for LIBA. He also started various new programmes at LIBA. He was instrumental in LIBA collaborating and signing an MOU with TCS to set up the new Centre for Business Analytics and Insights and was also involved in setting up a trading lab at LIBA with the help of MCX and Goodwill Wealth Management Ltd. He introduced a new specialization in Business Analytics for the full-time program, a part-time one year executive program in collaboration with TCS, an Executive Certificate Program in Automotive Quality Management in collaboration with Renault Nissan Technology and Business Centre India (RNTBI) and also a one year executive diploma program in Insurance in collaboration with Insurance Institute of India. He has initiated a joint MBA program with Binary University, Malaysia, for those who have completed one-year diploma programs. Furthermore, As per an India Today report, LIBA was ranked 9th in the country among the top 10 B -Schools during his tenure as a result of his untiring efforts and whole hearted dedication to scale up LIBA to great heights.
LIBA is deeply connected with its distinguished alumni who are the backbone of the institution and concerted efforts are always made to connect to them. LIBA is proud of its students who have done very well in all spheres of business and have grown to become prominent citizens of the society. Such alumni include Mr. H. Srikrishnan, MD & CEO – Jio Payments Bank, who received the Distinguished Alumni Award at the 8th Indian Management Conclave 2017 which was held at IIM Lucknow in August 2017. This Award is presented to outstanding business leaders, who have graduated from Indian business schools and are now making a significant impact.
Financial Support Initiatives
LIBA also takes major steps to support the students financially. Scholarships are awarded by the Institute to students on merit-cum means basis. LIBA also has a tie-up with corporates such as Bharti Foundations, Hyundai Motors India Limited, and Palaniswamy Trust, who offer scholarships to eligible students. The Institute also facilitates the process of obtaining educational loans from banks.
LIBA also focuses on making the life of students a cherished one. Students are provided a lot of time to interact with each other, they are encouraged to participate in sporting activities. Students enthusiastically participate in organizing celebrations of most Indian festivals while surmounting barriers of religion. An annual Retreat is organized for all students – focusing on personal reflection and understanding of oneself and it is not focused on religion but on character. Student activities complement their academic program, enrich their personal growth and make their stay memorable.
LIBA conducts a series of events and activities and encourages students to participate in them. 360 Degrees – a Students Affairs Committee organizes various events throughout the year, including ‘Chrysalis’, the annual national level cultural and management fest at LIBA and ‘LIBArated’ – a cultural talent show of music, dance and fashion show, The LeVox Populi (HR Club), Radius (Social Outreach Club), Espire (Entrepreneurship Cell), Finesse (Finance Club), Mark–it (Marketing Club), Mind Works (Quiz Club), LIBA Premier League (LPL), Enviro Club, Binary (Systems Club) and Arista (Operations Club) also conducts various workshops and events.
Career Opportunities and Placement Services
LIBA since its inception in 1979, has seen great enthusiasm from the industry to recruit some of the brightest minds of the country. Located in Chennai, the institute is indeed resilient to recessions and has constantly achieved 100 percent placement throughout its journey. The highest salary offered over the past five years at LIBA has been ranging from Rs. 14 lakhs to Rs. 21 lakhs per annum and it is a definite reflection of the quality of teaching offered by the expert faculty members.