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Business innovation: Key to educate next generation leaders

Alan W Cramb, President of Illinois School of Technology and M Krishna Erramilli, Associate Dean of Stuart School of Business, talk to Nishtha Balagopal about online courses, business innovation and the visa regulations

Business innovation: Key to educate next generation leaders
M Krishna Erramilli and Alan W Cramb

What makes Illinois Institute of Technology stand out?

Alan Cramb: We are an excellent technical university with some well-alumni, who have made discoveries that have changed the world. At the undergraduate level, our sciences, psychology, architecture and applied technology and management are popular. Also, our educational program helps undergraduates understand design and innovation. Some of our most popular graduate courses are in science specifically computer and mechanical engineering. The science and nutrition course is slowly gaining popularity now.

Do you offer exchange programs with Indian universities?

We have collaborated with many universities in India. Students can finish their Bachelors degree in India and do a Master's degree with us through the 4+1 or 3+2 programs. We also have exchange programs where students can spend a semester at IIT. For example, through our collaboration with Great Lakes Institute in Chennai, students can pursue some of the courses in our Chicago campus.

Does IIT offer online courses for students based in India?

We have many courses but the popular ones are in Computer Science and Computer Engineering. We are now adding more courses in Applied Technology, as it's gaining popularity.

Will President Trump's stand on visa regulations be a concern for Indian students?

Lets take this course which takes two years and then you come to the United States with a H1 Visa with two years of optional practical training, but in four years many things can change. There could be a change in his stand and he has already started to say that with immigration we need to be focused on people who can help the country to make a difference. I think the whole discussion about immigration will change and people will start focusing on what should be the skill set of the people coming in.

What is the MBA course for mid-career professionals and who is the ideal candidate for it?

Krishna Erramilli: Specifically for this course, we have focused on emerging markets. This course is for mid-career working professionals in technical roles. For example, in India we have software and IT professionals who have have a Bachelors degree in Engineering and work in companies who offer them overseas assignments. So the course is ideal for professionals who have spent almost six years in a technical role and are now looking for career advancement. We are looking to upskill these professionals to advance in their career through training in business, or management. This course is ideal for those who want to quit the corporate world and establish their start-up, or for those who want to pursue their MBA without leaving their jobs.

What is different about our online MBA course is that we have taken the advantage of the history of Illinois and Stewart School, and leveraged our strengths by creating a theme around Business Innovation. The world has moved on from technological innovation to business innovation where amazing products are created. These do not necessarily have breakthrough technologies, but they create an amazing amount of value for the customer.

The business model that Apple created was an earth-shattering business innovation where they linked all their devices and created immense value to the customers. Uber, Airbnb and Alibaba have amazing business models.

At our B-school, we think business innovation is where all the action will happen in the 21st century. Our online course will have videotaped lectures, and case studies, which will be taught through interactive discussions. We are using the Blackboard collaborate technique to facilitate this. Many online courses stand separate from the main university so you may not get the lectures from the main professors. But our online courses don't stand separate and are taught by the same faculty and you are in a class like the students in Chicago and doing exactly the same tests. We are rolling out the first online MBA course specifically for India as we have a strong alumni backing us as well as connections with companies here. Also, India has the largest pool of technologically backed professionals, so this is the best place to start.

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