Harvard Business School (HBS) is the graduate business school of Harvard University in Boston, Massachusetts. The school offers a large full-time MBA program, doctoral programs, HBX and many executive education programs. It owns Harvard Business Publishing, which publishes business books, leadership articles, online management tools for corporate learning, case studies and the monthly Harvard Business Review. It is home to the Baker Library/Bloomberg Center.
The school belongs to the Magnificent Seven (M7) group of elite business schools which recognize each other as peers, consisting of Chicago (Booth), Columbia, Harvard, Northwestern (Kellogg), MIT (Sloan), Stanford and Penn (Wharton).
The school was established in 1908. Initially established by the humanities faculty, it received independent status in 1910, and became a separate administrative unit in 1913. The first dean was historian Edwin Francis Gay (1867-1946). 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... 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.
The business school pioneered the development of the case method of teaching, drawing inspiration from this approach to legal education at Harvard. Cases are typically descriptions of real events in organizations. Students are positioned as managers and are presented with problems which they need to analyse and provide recommendations on.
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.
At its founding, the school accepted only male students. The Training Course in Personnel Administration, founded at Radcliffe College in 1937, was the beginning of business training for women at Harvard. HBS took over administration of that program from Radcliffe in 1954. In 1959, alumnae of the one-year program (by then known as the Harvard-Radcliffe Program in Business Administration) were permitted to apply to join the HBS MBA program as second-years. In December 1962, the faculty voted to allow women to enter the MBA program directly. The first women to apply directly to the MBA program matriculated in September 1963.
In 2012-2013, HBS administration implemented new programs and practices to improve the experience of female students and recruit more female professors.
International Research Centers
HBS established nine global research centers and four regional offices and functions through offices in Asia Pacific (Hong Kong, Shanghai, Singapore), United States (San Francisco Bay Area, CA), Europe (Paris), South Asia (India), Middle East and North Africa (Dubai, Istanbul, Tel Aviv), Japan and Latin America (Buenos Aires, Mexico City, São Paulo).
In 2017, HBS was tied for 1st with Wharton by U.S. News & World Report, No. 1 in the U.S. by Bloomberg Businessweek and 4th in the world by the Financial Times.
HBS students can join more than 80 different clubs and student organizations on campus. The Student Association (SA) is the main interface between the MBA student body and the faculty/administration. In addition, HBS student body is represented at the university-level by the Harvard Graduate Council.
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 organization to attend.
HBX, is an online learning initiative announced by the Harvard Business School in March 2014 to host online university-level courses. Initial programs are the Credential of Readiness (CORe) and Disruptive Strategy with Clayton Christensen. Leading with Finance, taught by Mihir A. Desai, was added to the catalog in August 2016. HBX also created HBX Live, a virtual classroom based at WGBH in Boston. Duration of HBX Core course takes from 12 to 18 weeks.
The school's faculty are divided into 10 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 the fall of 2010, Tata related companies and charities donated $50 million for the construction of an executive center. The executive center was named as Tata Hall, after Ratan Tata (AMP in 1975), the chairman of Tata Sons. The total construction costs have been estimated at $100 million. Tata Hall is located in the northeast corner of the HBS campus. The facility is devoted to the Harvard Business School's Executive Education programs. At seven stories tall with about 150,000 gross square feet, it contains about 180 bedrooms for education education students, in addition to academic and multi-purpose spaces.
Kresge Way now is located by the base of the former Kresge Hall, named for Sebastian S. Kresge. In 2014, Kresge Hall was replaced by a new hall funded by a US$30 million donation by the family of the late Ruth Mulan Chu Chao, whose four daughters all attended Harvard Business School. The Executive Education quad currently includes McArthur, Baker, and Mellon Halls (residence), McCollum and Hawes (classroom), Chao Center, and Glass (administration).
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- Abigail Johnson, 1988 - president of Fidelity Investments Personal and Workplace Investing
- Alex Behring - co-founder and managing partner of 3G Capital
- Jean Burelle (born 1938/1939) - French billionaire, chairman and CEO of Burelle
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- Ann S. Moore, 1978 - CEO of Time Inc.
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- Ashish Nanda, - director of Indian Institute of Management Ahmedabad, India
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- Chase Carey, 1980 - president of News Corporation
- Christine M. Day - Canadian business executive and former CEO of Lululemon
- Christopher McCormick - president and CEO of L.L. Bean
- Christopher Michel, 1998 - founder and former CEO of Military.com and founder and former CEO Affinity Labs
- Colin Drummond - CEO of Viridor and joint CEO of Pennon Group
- Cynthia Carroll, 1989 - former CEO of Anglo American PLC
- Dan Bricklin, 1979 - inventor of the electronic spreadsheet
- Daniel A. D'Aniello, 1974 - co-founder of The Carlyle Group
- Daniel Vasella, 1989 - president of Novartis AG
- Darren Huston, CEO of Priceline
- David Nelms, 1987 - CEO of Discover Financial Services
- David V. Miller - U.S. Air Force Major General
- David Viniar, 1980 - CFO and executive vice president of Goldman Sachs
- Diana Farrell 1991 - president and CEO of JPMorgan Chase Institute
- Dipali Goenka - director of Welspun Retail Ltd
- Donald J. Carty, 1971 - chairman and CEO of American Airlines
- Donna Dubinsky, 1981 - CEO of Palm, Inc.
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- Elaine Chao, 1979 - U.S. Secretary of Transportation and former U.S. Secretary of Labor
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- Erik Engstrom - CEO of Reed Elsevier
- Fred Hassan, 1972 - CEO of Schering-Plough
- Fritz Henderson - former president and CEO of General Motors
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- Grover Norquist, 1981 - president of Americans for Tax Reform
- Gunnar Sønsteby, 1947 - Norwegian World War Two resistance fighter, the most highly decorated person of Norway
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- Jeffrey Immelt, 1982 - chairman and CEO of General Electric
- Jeffrey Skilling, 1979 - former CEO of Enron, convicted of securities fraud and insider trading
- Jennifer Hyman - entrepreneur
- Jim Balsillie, 1989 - co-CEO of Research In Motion and billionaire
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- John Grayken - founder of Lone Star Funds
- John Paulson - president of Paulson & Co., a New York-based hedge fund
- John Thain, 1979 - former CEO of Merrill Lynch
- Joseph R. Perella, 1972 - founder and CEO of Wasserstein Perella & Co. and Perella Weinberg Partners
- Julie Bishop, 1996 - Australian deputy Prime Minister
- Karen Mills, 1977 - 23rd Administrator of the Small Business Administration
- Ken Hakuta - entrepreneur and inventor
- Larry Kramer, 1974 - founder and CEO of Marketwatch, president and publisher of USA Today
- Lawrence Marcus - World War Two veteran and vice president of Neiman Marcus
- Len Blavatnik, 1989 - Ukrainian-American businessman
- Mark Albion, 1982 - author, social entrepreneur and co-founder of Net Impact
- Mark Fields, 1989 - president and CEO of Ford Motor Company
- Mark Pears - CEO of William Pears Group
- Mark Pincus - CEO of Zynga
- Mary Callahan Erdoes, 1993 - CEO of J.P. Morgan Asset Management
- Meg Whitman, 1979 - President and CEO of Hewlett-Packard
- Melvin Gordon, MBA in 1943 - CEO of Tootsie Roll Industries (1962-2015)
- Melvin T. Tukman, 1966 - co-founder and president of Tukman Grossman Capital Management
- Michael Bloomberg, 1966 - mayor of New York City
- Michael Lynton, 1987 - chairman and CEO of Sony Pictures Entertainment
- Michael Mullen - Chairman of the Joint Chiefs of Staff, United States armed forces
- Mitt Romney, 1975 - 70th Governor of Massachusetts, co-founder of Bain Capital and 2012 presidential candidate of the Republican Party
- Morten Friis 1979 - Chief Risk Officer of Royal Bank of Canada
- Muhammad bin Ibrahim 2010 - 8th Governor of Central Bank of Malaysia
- Naina Lal Kidwai, 1982 - Group General Manager and Country Head of HSBC India
- Neil Pasricha, 2007 - author and speaker
- Nicholas Ferguson - chairman of BskyB
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- Philip Caldwell, 1942 - chairman and CEO of the Ford Motor Company
- Prince Maximilian of Liechtenstein, 1998 - president and CEO of LGT Group
- Rahul Bajaj, 1962 - CEO of Bajaj Auto
- Rajat Gupta, 1973 - former managing director of McKinsey & Company and convicted of insider trading in the Galleon Group case
- Rajiv Ghatalia 1993 - Indian-American businessman
- Randy Haykin, 1988 - founder of The Intersection Event and The Gratitude Network
- Ratan Tata, 1975 - chairman and CEO Tata Sons
- Ray Dalio, 1973 - founded Bridgewater Associates
- Raymond W. Baker, 1960 - director of Global Financial Integrity
- Richard Menschel, 1959 - (retired) senior director of Goldman Sachs, 2015 winner of the Carnegie Medal of Philanthropy.
- Richard Urman, 2009 - physician and author
- Rick Wagoner, 1977 - former CEO of General Motors
- Robert B. Stobaugh - Harvard Business School emeritus professor of Business Administration
- Robert Kraft, 1965 - chairman and CEO of The Kraft Group, owner of the New England Patriots and New England Revolution
- Robert McNamara, 1939 - former Secretary of Defense and former President of the World Bank
- Rodney A. Hawes, Jr., 1969 - CEO of LifeRe and benefactor of the Hawes Hall classroom building
- Ron Johnson - former CEO of J. C. Penney
- Sandro Salsano, businessman and philanthropist
- Salman Khan (educator), 2003 - founder of Khan Academy
- Saurabh Gadgil - chairman, president and CEO of PNG Jewellers
- Sheldon Erikson, 1970 - chairman of the board, president and CEO of Cameron International Corporation
- Sherry Coutu - former CEO and angel investor
- Sheryl Sandberg, 1995 - COO of Facebook
- Shikhar Ghosh, 1980 - serial entrepreneur, MBA Class of 1961 Senior Lecturer at Harvard Business School
- Stephen A. Schwarzman, 1972 - founder of Blackstone Group
- Stephen Covey, 1957 - self-help author
- Steve Bannon - Senior White House advisor and former Executive Chairman of Breitbart News Network
- Steven Kandarian - CEO of Metlife Grp
- Stephen D. Lebovitz, 1988 - CEO of CBL & Associates Properties
- Stuart A. Miller, 1979 - president of Lennar Corporation
- Tad Smith - CEO of Sotheby's
- Tarek Ben Halim - investment banker and founder of Alfanar, a venture philanthropy organization
- Teresa Clarke - former managing director Goldman Sachs (2004-2010) and CEO and founder of Africa.com
- Theodor Sproll, 2005 - rector of the Baden-Wuerttemberg Cooperative State University Loerrach
- Timothy I. Ahern - U.S. Air Force Major General
- Tim Draper, 1984 - venture capital investor
- Tom McGrath - chairman of Broadway Across America, prominent Broadway and film producer
- Trevor Fetter, 1986 - CEO of Tenet Healthcare
- Vicente Fox, 1974 - 55th President of Mexico
- Vittorio Colao - current Chief Executive of Vodafone Group
- W. James McNerney, Jr., 1975 - CEO of Boeing
- Walter A. Haas Jr., 1939 - CEO of Levi Strauss & Co.
- Whitney Tilson, 1994 - managing partner of T2 Partners
- Wilbur Ross - Secretary of Commerce (2017-incumbent) under the Trump Administration
- William Ackman 1992 - hedge fund manager
- William Legge, 10th Earl of Dartmouth - UKIP Member of the European Parliament
- William MacDonald, 1942 - Christian preacher and writer in the Plymouth Brethren movement
- Y C Deveshwar - chairman and CEO of ITC Limited
- Yoshito Hori, 1991 - founder of Globis University Graduate School of Management
- Zeeshan Zaidi, 2000 - president and co-founder of Host Committee, lead singer and guitarist for The Commuters
- Zoe Cruz, 1982 - former co-president of Morgan Stanley
- Axel Dumas - CEO of Hermès
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