College Park, Md., Beijing, China & New Delhi, India March 14, 2007 - The University of Maryland's Robert H. Smith School of Business today announced that it has entered into a strategic partnership with the Management Development Institute (MDI) in India and the University of International Business and Economics in China to jointly deliver a Global Consortium MBA program that will simultaneously draw students from the United States, China and India.
The two-year, full-time program, to launch in fall 2008, will be focused on global entrepreneurship and designed to offer global insight and entrepreneurial experience from within the worlds key markets. Students will complete the first year of the program at their respective home institutions. During the second year they will come together to participate in three modules; the first held in the United States, the second in China and the third in India.
As the worlds most significant emerging economies, China and India will have a major impact on 21st century global business, said Howard Frank, dean of the University of Maryland's Robert H. Smith School of Business. The creation of programs that support opportunities for our faculty, students and staff to actively engage internationally represents a vital element of the Smith Schools globalization strategy and support of truly world-leading faculty research and curricula.
MDI has consistently ranked amongst the top five business schools in India and, like the Indian economy, is committed to globalization. It is the first business school in India and the second in Asia to be accredited by the London-based Association of MBA, said Sujit K. Basu, director of the Management Development Institute. In the context of a rapidly growing Indian economy, the proposed program for leaders of family businesses and entrepreneurs jointly with Smith School of Business and UIBE would be a step towards developing thought leaders and change masters in a cross-cultural environment, while also building a global club of first generation and second generation business leaders. To echo the observations of the Honorable President of India, Dr. A.P.J. Abdul Kalam, ignited young minds are a powerful resource. This resource is mightier than any other resource on the earth.
As one of the top business schools in China, we continue to enhance our international features and explore more innovative management education models. said Xinmin Zhang, dean of the School of Business at the University of Business and Economics, China's economy is growing rapidly, more and more entrepreneurs are pursuing investment opportunities in China as well as in other developing and developed markets. With this program, wed like to cooperate with U.S. and Indian partners to build a wider space and open more windows for our students and faculty in a cross-cultural environment. This is very necessary in today's business world.
The Smith School also announced plans to work with MDI to explore the launch of an annual India business plan competition. The competition will be modeled after Smiths highly successful China Business Plan Competition, now in its third year. The Smith School currently delivers custom and Executive MBA programs via an existing partnership with UIBE in China, and it has collaborated on other programs for the past two years with MDI.