Since its inception in 1995, FIIB has worked towards rediscovering and reinventing MBA education by working closely with the industry. Through its commitment to excelling in management education, FIIB has been able to touch the lives of thousands of students. This has helped them realize their dreams of becoming Leaders and Managers, not only in India but across the globe. In all these of existence, the college has been lauded for its efforts – its strong recruiter relationships, top ranking among the B-schools in Delhi NCR and awards from major business school academies and industry associations.
A Great Visionary and Entrepreneur
Feb 21, 1945 – Jan 1, 2005
Mr. R.K Shrivastava (or ‘RK Sir’ as he was fondly called at FIIB) was born to a humble family in a small town in Madhya Pradesh, India. Post completing a B.E. in Electrical Engineering, he went to the Indian Institute of Management, Kolkata to complete his PGDBM (MBA). Coming from humble beginnings, the lasting impact education had on his life success and contributions to society, stayed with him forever and have been a living inspiration for the lives he touched.
He started his professional career with the DCM Group in various capacities, the last one being Executive Director–Exports. Despite spearheading several successful initiatives and his glorious stint as a young professional leader at DCM, he was hungry to contribute and achieve more. His entrepreneurial journey began in 1977 and continued until his last breath (2005). Over 3 decades, he founded and promoted a number of manufacturing and export ventures in industrial machinery manufacturing, mining, pharmaceuticals, textiles, and leather sectors. His efforts as an entrepreneur were duly recognized and he was felicitated on more than 20 occasions by national and international agencies of the highest repute. Some of his key awards include:
Being a staunch believer in the value of education and its role in changing one’s destiny, he founded the Fortune Institute of International Business in 1995 with a vision to providing high-quality management education at par with international standards and relevant to the industry. Through the college, he aimed to develop outstanding managerial talent capable of providing responsible leadership. He dared all who knew him to dream, to work smart, and strive for nothing less than excellence.
Today at FIIB we continue to live by the same set of values. We have a long way to go -dreams to fulfill, heights to reach, and responsibilities to carry out; But with a strong core that was put in place by RK Sir, we are well-positioned to achieve all that we set out to.
The year was 1994, Fortune Society for Development and Promotion of International Business was registered under the leadership of Mr R K Shrivastava as the President. After getting AICTE’s approval for PGDM intake of 60 students, in June 1995 our first batch of RACERs - 41 students (12 Women and 29 Men), started their journey from Vikram Farms, Pushpanjali. The lush green open expanse provided the perfect ambience for young minds to expand their horizons.
The Beginning…1st Academic Advisory Council (AAC) was created under the Chairmanship of Prof Ishwar Dayal - Former Director IIM Lucknow. The council had some major stalwarts such as Dr RK Dhawan - Former DG -FIEO & Advisor-FICCI; Dr Rakesh Khurana - Pro VC-IGNOU; Maj Gen DN Khurana - DG -AIMA; Dr Preetam Singh - Director-IIM Lucknow. The council has thus been a beacon of guidance and support for all key initiatives undertaken by the faculty.
19972002-2004 saw the early efforts of our management and performance of our students come to fruition when AICTE approved the enhancement of intake from 60 to 120 students. This was the boost that was required to further commit to our vision of nurturing quality, market-relevant careers in the years to come. It was the time when the Institute’s 8th batch graduated with 124 students. We received NBA Accreditation and also launched our in-house journal titled - Fortune Journal of International Management (FJIM).
Spreading the wings…After the unfortunate demise of Mr R K Srivastava in 2005, FIIB reigns are handed over to Mr V K Srivastava. Amidst this sadness, a glimmer of hope and recognition comes when we sign the 1st international MOU with Sam Walton College of Business, University of Arkansas. This sets us on a path to develop and nurture many more international partnerships in years to come. In later years, we are joined by Sam M. Walton College of Business, University of Arkansas, USA; Burgundy School of Business, France; Solbridge International School of Business, Woosong University, Republic of Korea; Department of Management & Innovation Systems, University of Salerno, Italy; Swiss Business School, Switzerland; Geneva School of Diplomacy and International Relations, Switzerland; Uniglobe College, Kathmandu, Nepal and more as our international partners.
New home & a global touch…Given the enormous growth and traction that was seen, the Institute shifts its campus to our permanent location in the heart of Delhi. A compact, modern building located in Vasant Vihar. This period also marks the rolling out of our first non-IB specializations (Marketing, Finance, Operations, and HR), and as fortune favours the brave, Institute’s ranking improved to 32nd Overall in India and 3rd in Delhi, as per CSR-GHRDC rankings.
2006-08This was the time where a lot of new changes took place. FIIB was granted AIU Equivalence and the re-launch of FJIM in a new avatar – FIIB Business Review (FBR). A number of signature events are launched: Meraki - a National Level B-Plan Competition; Samavesh - a student-run management fest. The first international business study tour takes place in China and Finland. The Alumni Advisory Board is formed and the 1st Alumni Awards are held. On-campus the Ishwar Dayal Auditorium is inaugurated, and the Internal Quality Assurance Cell (IQAC) is established.
A transition that was epically transcendent…After almost a decade of excellence and exemplary show of our grit and determination, the time had come to solidify our name. To do this, AAC expanded with the induction of new members. Some prominent members being - Maj. Gen. D.N.Khurana - AVSM, Ex-Director - AIMA, Prof Rajen K Gupta - Former Professor - MDI Gurgaon, Mr Rajat Jain - Ex CEO - Xerox India, Ex CEO Disney India, Executive Vice Chairman, Neva Garments Ltd., Mr Amitabh Jhingan - Partner and National Leader - E&Y, Mr Manish Kheterpal - Managing Partner – WaterBridge Ventures, Mr Saurabh Mittal - Sr VP – Fractal Analytics, Maj. (Dr) KPS Sandhu - Alumnus FIIB and Principal Consultant Infosecure Consulting Pvt Ltd., Ms Radhika Shrivastava - ED – FIIB; Ex-World Bank. On the Student and Alumni front, multiple new approaches were taken in this time frame - Students’ Case Writing Competition Katastasi was launched, Alumni Association launches South India Chapter and FIIB Business Review (FBR) indexed with EBSCO and CNKI Scholar to name a few.
Show of Mettle…In 2016-17, the International Management Conference (IMC) was launched along with the inauguration of an IBM Analytics Lab on campus. The numbers had been growing at a good pace and this showed in that year’s intake as well when the 23rd Batch (2017-19) started with 180 students (79 Women and 101 Men). The same time also saw the launch of the FIIB Alumni Association’s 1st International chapter in Dubai. Following an intensive job-market study, FIIB’s signature employability initiative - the B-Involved Programme was introduced. FIIB drafts and adopts its first strategic plan - FIIB 2020 a three-year road map for the Institute’s initiatives.
Growing steadily…FIIB was established with the clear consciousness of providing a better future to its students but more importantly ensuring that we give back to our society as well. To cement this thought further, in 2018-19, FIIB redefined its mission - To advance the practice of management and develop leader-managers of business and social relevance. Taking a step in the same direction, we introduced the tagline ‘Enter to Learn, Leave to Succeed’ introduced. The Racer is formally adopted as our official mascot. The Racer song, written by Manish Bhatt and sung by Siddhartha Basrur is released. Its upbeat rhythm and motivating words remind us that success is not final, failure is not fatal. It's the courage to keep going that matters. FIIB launches its first edition of TEDx@FIIB. We also had the privilege of conducting our first student exchange program in 2018 with the Solbridge International School of Business, Woosong University, Republic of Korea.
Bringing back “how it should be” …With Coronavirus wreaking havoc in the entire world, among the many affected, education was one of the worst-hit sectors. However, we at FIIB stand in solidarity with those on the front lines in our country and the world, by doing our part in ensuring the protection of our community. We successfully conducted our first Virtual Convocation and Orientation Programme in the midst of the COVID-19 pandemic. Our team displayed great ingenuity and a relentless attitude during the testing times and launched the FIIB doctoral programs. A new PGDM-Financial Management Programme is launched. The FIIB Business Review is included in the ABS Rankings and also listed in Web of Science. As is rightly said, “The show must go on”. At the graduation ceremony for batch 19-21, the graduating students take the MBA oath and commit to acting responsibly in their careers and making FIIB proud.
Change is the only constant…FIIB continues to be driven to deliver excellence, and in a world where adaptability and technology are at the core of everything, we are ever so determined to expand the integration of technology to enhance teaching and learning at FIIB. With a #NeverStopLearning attitude, FIIB considers learning to be a continuous process that helps focus on future goals. Our Strategic Plan (FIIB 2025) consists of building internal capabilities for change, emphasizing a series of coordinated interventions to bring about changes in the Institute’s direction, structure, interfaces and performance with a view to effectively respond to the demands of stakeholders of business education.