IU Kelley Receives $4.8M for Global Business Institute
A new institute created through a $4.8 million gift will greatly increase activities by Indiana University’s Kelley School of Business within Central and South America, while also energizing the school’s overall diversity and globalization initiatives, the school announced Tuesday.
The Institute for Global Organizational Effectiveness is being established through a private gift coordinated by The GEO Global Foundation. It is the largest single gift to the school from someone who is not an IU alumnus.
Herman Aguinis (pictured), Dean’s Research Professor in Kelley’s Department of Management and Entrepreneurship, will direct the new institute. He said it will merge the research, teaching and outreach functions in order to enhance the value of a Kelley education in Latin America, both for graduates and the companies that hire them after graduation.
Activities of the new institute will include:
- Global fellowships for up to eight new MBA students annually, who will receive a two-year $25,000 annual stipend.
- Similar global fellowships for Ph.D. students consisting of a $25,000 annual stipend on top of their full tuition fee waiver during the five-year program.
- Research studies based in part on data provided by MBA consulting projects that will result in new “actionable knowledge” on Latin America that will be presented at major conferences and published.
- The institute will serve as a hub for a network for current and former Kelley MBAs throughout Latin America.
“Much like in China, where there are millions and millions of people, quantity’s not the same as quality and for many organizations from Latin America to be able to hire an MBA trained at Kelley who is fully bilingual, fully bi-cultural is a gem,” Aguinis said. “The vision is that Kelley will be the business research and education provider of choice for Latin America 10 to 15 years from now.”
Like its other recent ventures into India and Korea, the new institute eventually will help the Kelley School increase its footprint in Latin America, said Dan Smith, dean of the Kelley School.
“True globalization is now a reality and with it comes new demand for finding, developing and retaining top talent,” Smith added. “Talent is now being sourced from a global marketplace and is the world’s most sought-after commodity. ‘Knowledge workers’ in particular are critical to organizational and national competitiveness.”
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