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Harvard Business School

Harvard Business School

Harvard Business School (HBS) is the graduate business school of Harvard University in Boston, Massachusetts. Consistently ranked among the top most business schools in the world,[2][3] the school offers a large full-time MBA program, management related doctoral programs, HBS Online 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.

Harvard Business School
TypePrivate business school
Endowment$3.8 billion (2017)[1]
DeanNitin Nohria
Academic staff
Administrative staff
(1,859 in MBA)
(150 in Ph.D.)
Allston, Boston
United States

42°22′02″N 71°07′21″W [197]
AffiliationsHarvard University
WebsiteHBS.edu [198]
HBS Horizontal Logo.PNG
Business school rankings
Worldwide overall
Times Higher Education[17]7
U.S. News & World Report[18]3
Worldwide MBA
Business Insider[19]3
Financial Times[21]2
Bloomberg Businessweek[22]3
U.S. News & World Report[24]3


Baker Library

Baker Library

The school was established in 1908.[4] 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).[5] 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.*[6] 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.[7]

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.[8]

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.[9][10][11]

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.[12]

In 2012–2013, HBS administration implemented new programs and practices to improve the experience of female students and recruit more female professors.[13]

International Research Centers

HBS established nine global research centers and four regional offices[14] and functions through offices in Asia Pacific (Hong Kong, Shanghai, Singapore), United States (San Francisco Bay Area, CA), Europe (Paris), South Asia (India),[15] Middle East and North Africa (Dubai, Istanbul, Tel Aviv), Japan and Latin America (Buenos Aires, Mexico City, São Paulo).

MBA program


In 2019, HBS was tied for 3rd with University of Chicago Booth School of Business and MIT Sloan School of Management by U.S. News & World Report's ranking of U.S. business schools[26] and ranked 2nd in the world by the Financial Times.[27]

Student life

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.

Other programs

In 2015, executive education contributed $168 million to HBS's total revenue of $707 million.[28]

Advanced Management Program (AMP)

The Advanced Management Program (AMP) is a seven-week $82,000 residential course with the stated aim of "transforming proven leaders into global executives".[29] It was first run in 1945,[30] and has had 20,000 attendees.[31] There are "no formal educational requirements", and on completion, "you will become a lifetime member of the HBS alumni community".[29] In 2016, the BBC noted that attendees "can have an experience that more closely mimics the MBA degree, with the opportunity to develop closer friendships and almost full access to university alumni minus the rigorous admissions process."[28]

Owner/President Management Program (OPM)

The Owner/President Management Program (OPM) consists of three three-week $44,000 "units" spread over two years, aimed at "business owners and entrepreneurs".[32][33] There are "no formal educational requirements" Notable attendees include model-turned-businesswoman Tyra Banks, who has been criticised for using phrases such as "I went to business school", from which people might infer that she earned a Harvard MBA.[34]

Harvard Business School Online (HBS Online)

HBS Online, previously 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. HBS Online also created HBX Live, a virtual classroom based at WGBH in Boston. The duration of HBS Standard Online CORe course is 10 to 12 weeks and costs $2,250.[35]


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.[36]

Academic units

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.[37]


In the fall of 2010, Tata related companies and charities donated $50 million for the construction of an executive center.[38] The executive center was named as Tata Hall, after Ratan Tata (AMP, 1975), the chairman of Tata Sons.[39] The total construction costs have been estimated at $100 million.[40] 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 students, in addition to academic and multi-purpose spaces.[41]

Kresge Way was located by the base of the former Kresge Hall, and is named for Sebastian S. Kresge.[42] In 2014, Kresge Hall was replaced by a new hall that was 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.[43] The Executive Education quad currently includes McArthur, Baker, and Mellon Halls (residences), McCollum and Hawes (classrooms), Chao Center, and Glass (administration).[44]

Notable alumni (MBA or DBA)


  • William Ackman, 1992 – hedge fund manager[4]

  • Mark Albion, 1982 – author, social entrepreneur and co-founder of Net Impact[45]

  • Joseph L. Badaracco – senior associate dean, chair, and professor of business ethics, HBS MBA program; author[46]

  • Rahul Bajaj, 1964 – CEO of Bajaj Auto[47]

  • Raymond W. Baker, 1960 – director of Global Financial Integrity[48]

  • Jim Balsillie, 1989 – billionaire co-CEO of Research In Motion[49]

  • Steve Bannon – former White House advisor and former chairman of Breitbart News Network[50]

  • Alex Behring – co-founder and managing partner of 3G Capital[51][52]

  • Tarek Ben Halim – investment banker and founder of Alfanar, a venture philanthropy organization[53]

  • Guy Berruyer – French CEO of Sage Group[54]

  • Len Blavatnik, 1989 – Ukrainian-American businessman[55]

  • Michael Bloomberg, 1966 – former mayor of New York City[4]

  • Dan Bricklin, 1979 – inventor of the electronic spreadsheet[56]

  • Charles Bunch, 1979 – CEO of PPG Industries[57]

  • Jean Burelle (born 1938/39) – French billionaire chairman and CEO of Burelle[58][59]

  • Steve Burke – NBCUniversal CEO; Comcast executive vice president

  • George W. Bush, 1975 – 43rd President of the United States and former Governor of Texas[4]

  • Liam Byrne, 2010 - politician, British Labour Party Member of parliament[60]

  • Philip Caldwell, 1942 – chairman and CEO of the Ford Motor Company[4]

  • Chase Carey, 1980 – president of News Corporation[4]

  • Cynthia Carroll, 1989 – former CEO of Anglo American PLC[61]

  • Donald J. Carty, 1971 – chairman and CEO of American Airlines[62]

  • Elaine Chao, 1979 – U.S. Secretary of Transportation and former U.S. Secretary of Labor[63]

  • P. Chidambaram, 1968 – former Union Minister of Finance in India[64]

  • Teresa Clarke – former managing director Goldman Sachs (2004–2010) and CEO and founder of Africa.com[65]

  • Vittorio Colao, 1990 – CEO of Vodafone Group[66]

  • Sherry Coutu, 1993 – former CEO and angel investor[67]

  • Stephen Covey, 1957 – self-help author[4]

  • Zoe Cruz, 1982 – banker; former co-president of Morgan Stanley[68]

  • Philip Hart Cullom, 1988 – U.S. Navy Vice Admiral[69]

  • John D'Agostino, 2002 – managing director of Alkeon Capital and subject of best-selling book Rigged: The True Story of a Wall Street Novice who Changed the World of Oil Forever[70]

  • Daniel A. D'Aniello, 1974 – co-founder of The Carlyle Group[71]

  • Ray Dalio, 1973 – founded Bridgewater Associates[4]

  • Elisabeth DeMarse, 1980 – CEO of Newser[72]

  • Anne Dias-Griffin, 1997 – hedge fund manager for Aragon Global Management[73]

  • Betty Jane Diener, 1964 (and DBA, 1974) – Virginia Secretary of Commerce (1982–1986)[74]

  • Jamie Dimon, 1982 – CEO and chairman of JPMorgan Chase[4]

  • James Dinan, 1985 – founder of hedge fund York Capital Management[75]

  • Tim Draper, 1984 – venture capital investor[76]

  • Colin Drummond – CEO of Viridor and joint CEO of Pennon Group[77]

  • Donna Dubinsky, 1981 – CEO of Palm, Inc.[78]

  • Axel Dumas, 2010 - CEO of Hermès[79]

  • Erik Engstrom, 2015 – CEO of Reed Elsevier[80]

  • Mary Callahan Erdoes, 1993 – CEO of J.P. Morgan Asset Management[81]

  • Sheldon Erikson, 1970 – chairman of the board, president and CEO of Cameron International Corporation[82]

  • Diana Farrell 1991 – president and CEO of JPMorgan Chase Institute[83]

  • Nicholas Ferguson – chairman of BskyB[84]

  • Trevor Fetter, 1986 – Senior Lecturer at HBS; former CEO of Tenet Healthcare[85]

  • Mark Fields, 1989 – president and CEO of Ford Motor Company[86]

  • Barbara Hackman Franklin, 1964 – 29th U.S. Secretary of Commerce[87]

  • Jane Fraser 1994 – CEO of Citigroup Latin America[88]

  • Morten Friis 1979 – Chief Risk Officer of Royal Bank of Canada[89]

  • William W. George – senior fellow and professor, HBS MBA program; author; former chair and CEO of Medtronic[90]

  • Rajiv Ghatalia 1993 – Indian-American businessman[91]

  • Shikhar Ghosh, 1980 – entrepreneur, lecturer at HBS[92]

  • Melvin Gordon, 1943 – CEO of Tootsie Roll Industries (1962–2015)[93]

  • Allan Gray, 1965 – founder of Allan Gray Investment Management and philanthropist[94]

  • John Grayken – billionaire founder of Lone Star Funds[95]

  • Ranjay Gulati – professor, HBS MBA program, author[90][96]

  • Rajat Gupta, 1973 – former managing director of McKinsey & Company; convicted of insider trading in the 2011 Galleon Group case[97]

  • Walter A. Haas Jr., 1939 – CEO of Levi Strauss & Co.[4]

  • Ken Hakuta, 1977 – entrepreneur and inventor[98]

  • Fred Hassan, 1972 – CEO of Schering-Plough[99]

  • Rodney A. Hawes, Jr., 1969 – CEO of LifeRe and benefactor of the Hawes Hall classroom building[100]

  • Randy Haykin, 1988 – founder of The Intersection Event and The Gratitude Network[101]

  • Fritz Henderson, 1984 – former president and CEO of General Motors[102]

  • John B. Hess, 1977 – CEO of Hess Corporation[103]

  • Andy Hill, 1990 – politician, Washington State Senator[104]

  • Douglas Hodge, 1984 - CEO of PIMCO, charged with fraud for allegedly participating in the 2019 college admissions bribery scandal[105]

  • Yoshito Hori, 1991 – founder of Globis University Graduate School of Management[106]

  • Darren Huston, 1994 – CEO of Priceline[107][108]

  • Jennifer Hyman, 2009 – entrepreneur[109][110]

  • Jeff Immelt, 1982 - former chairman and CEO of General Electric[111][4]

  • Abigail Johnson, 1988 – chairman of Fidelity Investments[4][112]

  • Ron Johnson, 1984 – former CEO of J. C. Penney[113]

  • Henry Juszkiewicz, 1979 – CEO of Gibson Guitars Inc.[114]

  • George Kaiser, 1966 – chairman of BOK Financial Corporation[4]

  • Steven Kandarian – CEO of Metlife Group[115]

  • Salman Khan, 2003 – founder of Khan Academy[116]

  • Naina Lal Kidwai, 1982 – Group General Manager and Country Head of HSBC India[117]

  • Seth Klarman – billionaire hedge fund manager; Baupost Group founder

  • Jim Koch, 1978 – co-founder and chairman of the Boston Beer Company[4]

  • Robert Kraft, 1965 – chairman and CEO of The Kraft Group, owner of the New England Patriots and New England Revolution[4]

  • Larry Kramer, 1974 – founder and CEO of Marketwatch, president and publisher of USA Today[118]

  • A.G. Lafley, 1977 – former CEO & chairman of the board of Procter & Gamble[119]

  • Stephen D. Lebovitz, 1988 - CEO of CBL & Associates Properties[120]

  • William Legge, 10th Earl of Dartmouth – UKIP Member of the European Parliament[121]

  • Michael Lynton, 1987 – chairman and CEO of Sony Pictures Entertainment[4]

  • William MacDonald, 1940 – Christian preacher and writer in the Plymouth Brethren movement[122]

  • Stephen Mandel – billionaire hedge fund manager; Lone Pine Capital founder

  • Lawrence Marcus, 1940 – World War Two veteran and vice president of Neiman Marcus[123]

  • Prince Maximilian of Liechtenstein, 1998 – president and CEO of LGT Group[124]

  • Tom McGrath – chairman of Broadway Across America, Broadway and film producer[125]

  • Robert McNamara, 1939 – former Secretary of Defense and former President of the World Bank[4]

  • W. James McNerney, Jr., 1975 – CEO of Boeing[126]

  • Richard Menschel, 1959 - (retired) senior director of Goldman Sachs; 2015 winner of the Carnegie Medal of Philanthropy.[127]

  • Christopher Michel, 1998 – founder and former CEO of Military.com, and founder and former CEO Affinity Labs[128]

  • Karen Mills, 1977 – 23rd Administrator of the Small Business Administration[129]

  • Ann S. Moore, 1978 – CEO of Time Inc.[4][130]

  • David Nelms, 1987 – CEO of Discover Financial Services[131]

  • Grover Norquist, 1981 – president of Americans for Tax Reform[132]

  • Neil Pasricha, 2007 – author and speaker[133]

  • Henry Paulson, 1970 – former U.S. Secretary of the Treasury, former CEO of Goldman Sachs[4]

  • John Paulson – president of Paulson & Co., a New York-based hedge fund[4]

  • Art Peck, 1979 - CEO of GAP, Inc.[134]

  • Joseph R. Perella, 1972 – founder and CEO of Wasserstein Perella & Co. and Perella Weinberg Partners[135]

  • Carl Howard Pforzheimer Jr (1907-1996), 1930 - investment banker[136]

  • Mark Pincus – CEO of Zynga[4]

  • Michael B. Polk - CEO of Newell Brands[137]

  • Bruce Rauner, 1981 – 42nd Governor of Illinois[138]

  • Edwin W. Rawlings, 1939 – U.S. Air Force[139] and President and Board Chairman of General Mills[140]

  • Gary Rodkin, 1979 – CEO and president of ConAgra Foods[141]

  • Mitt Romney, 1975 – 70th Governor of Massachusetts, co-founder of Bain Capital and 2012 presidential candidate of the Republican Party[4]

  • Wilbur Ross, 1961 – Secretary of Commerce (2017–incumbent) under the Trump Administration[142]

  • Sheryl Sandberg, 1995 – COO of Facebook[4]

  • Ann Sarnoff, 1987 – president of BBC America[143][144]

  • Ulf Mark Schneider, 1993 – CEO of Nestlé, and former CEO of Fresenius[145]

  • Stephen A. Schwarzman, 1972 – founder of Blackstone Group[4]

  • Martin A. Siegel, 1971 — former Kidder, Peabody & Co. investment banker and former Drexel Burnham Lambert managing director; convicted for insider trading in 1987[146]

  • Joe Shoen, 1973 - billionaire chairman of AMERCO[147]

  • Jayant Sinha 1992 – Union Minister of State for Finance of India[148]

  • Jeffrey Skilling, 1979 – former CEO of Enron; convicted of securities fraud and insider trading[149]

  • Tad Smith – CEO of Sotheby's[150]

  • Gunnar Sønsteby, 1947 – Norwegian World War Two resistance fighter, most highly decorated person of Norway[151]

  • Guy Spier, 1993 – author and investor[152]

  • E. Roe Stamps 1974 – founding partner of private equity firm Summit Partners[153]

  • Gerald L. Storch – chairman and CEO of Toys "R" Us, Inc.[154]

  • Sandra Sucher – businesswoman; professor, HBS MBA program[155]

  • John Thain, 1979 – former CEO of Merrill Lynch[156]

  • Pamela Thomas-Graham, 1988 – businesswomanm Clorox, Credit Suisse, and Liz Claiborne, author[157]

  • Whitney Tilson, 1994 – managing partner of T2 Partners[158]

  • Gerald Tremblay, 1972 – mayor of Montreal and former Quebec's Minister of Industry, Commerce, Science and Technology[159]

  • Melvin T. Tukman, 1966 – co-founder and president of Tukman Grossman Capital Management[160][161]

  • David Viniar, 1980 – CFO and executive vice president of Goldman Sachs[162]

  • Rick Wagoner, 1977 – former CEO of General Motors[163]

  • John C. Whitehead, 1947 – former co-chairman of Goldman Sachs[164]

  • Meg Whitman, 1979 – President and CEO of Hewlett-Packard[4]


  • Jay Lorsch, DBA, 1964 – professor, HBS MBA program; contingency theory contributor; author, DBA (1964)[165]

  • George Schussel, DBA, 1966 – founder and former chairman of Digital Consulting Institute and founder of Jellicle Investors, Inc.[166][167]

  • Robert B. Stobaugh, DBA, 1968 – Harvard Business School emeritus professor of Business Administration[168]

Executive education course attendees

Advanced Management Program (AMP)

  • Timothy I. Ahern, 1967 – U.S. Air Force Major General[169]

  • Gabi Ashkenazi, AMP, 2004 – Chief of the General Staff of Israel Defense Forces[170][171]

  • Julie Bishop, AMP, 1996 – Australian deputy Prime Minister[172]

  • Rick Burr, 2013 - Chief of the Australian Army[173]

  • Christine M. Day, 2002 – Canadian business executive and former CEO of Lululemon[174]

  • Y. C. Deveshwar – chairman and CEO of ITC Limited[175]

  • Philip Durbrow - chairman and CEO of Marshall Strategy[176]

  • Muhammad bin Ibrahim, 2010 – 8th Governor of Central Bank of Malaysia[177]

  • Antony Leung, 1999 – financial secretary of Hong Kong[178]

  • Christopher McCormick – president and CEO of L.L. Bean[179]

  • David V. Miller – U.S. Air Force Major General[180]

  • Michael Mullen, 1991 – Chairman of the Joint Chiefs of Staff, United States armed forces[181]

  • A. Sivathanu Pillai, 1991 – honorary distinguished professor of Indian Space Research Organisation[182][183]

  • Ajay Piramal, 1992 – chairman, Piramal Group[184]

  • Ratan Tata, 1975 – chairman and CEO Tata Sons[185]

Other executive education

  • Aigboje Aig-Imoukhuede, 2000 – co-founder Access Bank Plc and founder & chairman, Africa Initiative for Governance[186][187][188]

  • Vicente Fox – 55th President of Mexico[189][190]

  • Sandro Salsano, businessman and philanthropist[191][192]

  • Daniel Vasella, PMD, 1989 – president of Novartis AG[193]

  • Howard Zuker a.k.a. Zack Norman, 2005 (OPM 34) – financier, producer and actor

See also

  • Spangler Center

  • Economics

  • Glossary of economics

  • Harvard/MIT Cooperative Society, campus bookstore

  • List of Harvard University people

  • List of Ivy League business schools


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