Executive Summary
IMI Kolkata was established in 2011 as part of the International Management Institute (IMI), one of India’s earliest corporate-supported business school groups. The institute combined academic rigour with industry orientation, aiming to strengthen management education in Eastern India.
By the end of the last decade, the institute had established its presence. However, sustaining competitive relevance required a fundamental reset.
When a leadership transition took place in 2020, IMI Kolkata faced several concerns:
- Financial viability was poor
- Infrastructure posed safety concerns
- Regulatory requirements were unmet
- Governance systems were weak or missing
- Accreditation bodies communicated clearly that the continuity of the programme’s accreditations depended on substantive reforms.
As a result, the institute was compelled to make certain choices for survival and revival. The period from 2020 to 2025 was thus marked by survival, stabilisation, and gradual progression. Across functions, there was an increased emphasis on accountability and measurable outcomes.
In 2025, IMI Kolkata achieved a significant improvement in the National Institutional Ranking Framework (NIRF), securing the 42nd position among 1026 management schools in India. This improvement is notable given that the institute was ranked 70th in 2023 and improved to 56th in 2024, marking a 28-place rise in just two years.
This momentum reflects a broader shift in strategy, leadership, and execution. The Whitepaper outlines the strategic decisions that enabled IMI Kolkata’s turnaround. For businesses and leaders, it offers change management insights that are relevant across sectors. It highlights the importance of strategy, operational discipline, and cultural realignment. It also stresses the need for building capabilities and systems to sustain growth.
The Situation in 2020
When IMI Kolkata entered 2020, uncertainty permeated multiple layers of the organisation.
The cumulative effect was a chaotic environment. The leadership at IMI Kolkata recognised that rebuilding could not begin without first addressing basic needs, followed by structured change management efforts.
Financial Ambiguity
There was limited clarity on whether the institute was generating an operating surplus or running sustained losses. Financial systems existed, but without consolidated visibility or disciplined interpretation. Decision-making often occurred in the absence of reliable financial signals.
Infrastructure Risk
Multiple instances of structural distress and damage in the building raised serious safety concerns for students and staff.
Regulatory and Accreditation Pressure
Accreditation bodies communicated clearly that unless substantive academic reforms were undertaken, accreditation would be withdrawn. At the same time, regulatory licences required to operate as an AICTE-approved institution were either missing or inadequately maintained.
Governance and Cultural Breakdown
Formal governance mechanisms, including POSH systems, were absent. Rules existed on paper but lacked implementation.
The Three Phases of Change Management
The change management journey at IMI Kolkata can be broadly understood through three distinct phases.
Phase 1 – Stabilisation (2020–2021)
- Financial discipline and cost control
- Infrastructure safety and operational continuity
- Regulatory compliance and governance
Phase 2 – Integration (2022–2024)
- Clear priorities and measurable outcomes
- Accountability and outcome-based processes
- Focus on value-adding initiatives
Phase 3 – Scaling & Continuity (2025 onwards)
- Distributed leadership and decision-making
- Defined ownership and strong systems
- Industry relevance and future-ready talent
Focusing on the Basics for Stability
2020 – 2021: Phase One
Financial Discipline
Financials became the immediate priority. It was evident that the institute required support from the parent Group to meet certain expenses. A clear roadmap was outlined, IMI Kolkata would cover operating costs and routine capital expenditure independently, while major structural repairs would receive support from the Group.
Focus on Infrastructure
Infrastructure risks required urgent action. Unsafe structures were dismantled, engineers and architects were engaged, and corporate project teams supported the stabilisation of the campus.
Accreditation Alignment
The expectations around outcome-based education intensified from the accreditation bodies. The corporate job market also echoed this demand. The existing curricula and academic processes were not aligned with this approach, and accreditation bodies made it clear that failure to adapt would result in loss of recognition.
The teaching emphasis therefore had to shift from what faculty wanted to teach through textbooks to what students could demonstrably deliver in their jobs.
Shifts in Organisational Culture
The prevailing mindset within the institute had been shaped by years of overprotectiveness. Loyalty and tenure were prioritised over accountability.
Introducing a performance-oriented culture therefore triggered an initial response of shock and denial from the faculty and staff. Some assumed the shift in language would not translate into action. Resistance emerged as it was evident that the expectations had genuinely changed.
The message of accountability and performance was reinforced through formal governance processes and documented, repeated communication, including face-to-face meetings and open-door access for conversations, making it clear that the change could not be dismissed as temporary.
Control Over Governance
Governance mechanisms were either weak or absent. Systems such as POSH were non-existent, and inappropriate behaviour by some members of the administrative staff had permeated campus life. This breakdown had a cascading effect on student conduct, eroding respect for rules and authority. Students openly questioned why regulations applied to them when employees themselves violated norms without consequence.
IMI Kolkata recognised that this was a deep-rooted cultural problem. Addressing it required a fundamental reset in values, expectations, and practise stricter discipline.
Key Takeaways
- Stability is the foundation of transformation: Organisations facing uncertainty must first restore operational and financial stability before attempting strategic growth or innovation. Decision-making improves only when leaders have clear visibility into financials, risks, and accountability structures.
- External pressure often accelerates internal change: Signals from regulators, accreditors, markets, or customers frequently expose gaps that organisations may otherwise postpone addressing.
- Accountability reshapes organisational culture: Moving from comfort-based systems to performance-based expectations naturally generates resistance in an organisation, but it is essential for its long-term effectiveness.
Integration with Organisational Goals
2022 – 2024: Phase Two
Aligning Action with Institutional Value
As reforms began to be laid out and directly affected roles and autonomy, certain sections of employees voiced their displeasure. Changes in performance metrics, engagement expectations, and curriculum design were met with pushback. While the broader changes were initially accepted, resistance increased when personal comfort zones were challenged.
At this stage, IMI Kolkata prioritised execution over consensus. A small core team aligned with the institutional vision took ownership of implementation.
- Academic programmes were restructured, accreditation processes strengthened, and brand-building initiatives were undertaken in parallel.
- Only activities that added value to organisational growth were pursued, while the rest were rejected. This clarity became an essential cornerstone of decision-making and resource allocation.
Over time, individuals moved from compliance to internalisation. This was the beginning of the integration phase, where the system picked momentum on its own rather than through enforcement.
Cultural Integration
As results began to emerge, belief in the growth trajectory of IMI Kolkata strengthened.
- Many faculty and staff members recognised the direction in which the institute was headed and aligned themselves with the work required to sustain that momentum.
- Some individuals were unable to build a meaningful connection with the new expectations. Many of them chose to exit the organisation.
- The institute was given first priority at all times. Individual growth was expected to align with institutional growth. Performance expectations were articulated clearly and applied uniformly across faculty and staff.
Thus, the years 2022 to 2024 marked a phase of stabilisation and progress. Rankings improved, accreditations progressed, programmes strengthened, and institutional credibility increased.
Key Takeaways
- Execution turns intent into results: Once direction is clear, organisations must prioritise action over consensus, accepting that resistance often increases when roles and autonomy are affected.
- Focus drives momentum: Resources should be directed only towards initiatives that clearly add value, while non-essential activities are consciously discontinued.
- Accountability shapes the organisation: Clear performance expectations reduce ambiguity. Some individuals adapt and grow, while others choose to exit, a natural outcome of cultural integration.
Scaling and Continuity
2025: Phase Three
By 2025, IMI Kolkata had stabilised. Rankings improved, credibility strengthened, and organisational confidence returned. However, the institute recognised that the centralised, hands-on leadership style that enabled the turnaround would not sustain long-term growth. The next phase required a greater number of thinking leaders in the team.
Distributed Strategic Capacity and Accountability
In the next phase of growth, the institute needed distributed strategic capacity and leaders who could independently conceptualise, design, and execute initiatives within clearly defined structures.
To facilitate this:
- Centres of Excellence were formed; Vertical Head, Chairperson and Coordinator roles were assigned with clear leadership ownership.
- Formal accountability systems were created.
- Timelines were enforced, and outcomes were monitored.
- The institute deliberately chose to move towards individual accountability.
This transition was again not without resistance. However, IMI Kolkata remained firm in its belief that sustainability of an organisation depends on accountability of its employees. The objective was to achieve continuity and growth beyond individual leadership tenures.
Industry Expectations and Faculty Readiness
A critical shift was also observed in industry expectations, particularly in placements and internships.
- Employers no longer viewed business schools as providers of domain knowledge alone.
- Students were expected to be job-ready from day zero, even for internships.
- Communication skills, contextual intelligence, cultural adaptability, and on-ground problem-solving skills became as important as technical expertise.
This exposed uneven faculty capability in delivering applied learning. While industry professionals were engaged to bridge gaps, a deeper question emerged, how could faculty impart industry readiness to students without equipping themselves first for it?
It led to sharper scrutiny of:
- Curriculum relevance
- Classroom delivery
- Real feedback mechanisms.
Where the established systems failed to gather feedback from students on course intent and delivered value, leadership intervened directly to obtain on-ground insights.
As a result, faculty were encouraged to engage with industry in various forms:
- Faculty externships
- Designing customised training programmes
- Co-designing and co-delivering courses
- Consulting assignments
- Formation of the Industry Advisory Board
These activities are now linked to performance appraisals.
Technology, Transparency, and Quality Systems
The following initiatives were undertaken:
- The institute collaborated with the technical team of Saregama to develop an internal Generative AI architecture that is being trained on the institute’s materials and documents provided by faculty members. The system will support student queries and aid their daily work-life as a teaching assistant.
- Hands-on AI training with industry partners was organised for faculty.
From 2026 onwards, classroom recording has been identified as an important next step for adding to the GenAI architecture.
- The recordings are viewed as a tool for learning and quality improvement, intended to support reflection and better classroom practice, not surveillance.
- Senior faculty will first comply with classroom recording and governance processes.
- Alignment will then be applied across other faculty members.
Expanding the Academic and Career Scope
The institute recognised that imbibing skills like critical-thinking, problem-solving, and risk-taking cannot be confined to the classroom alone.
To address this, initiatives such as the Local Business Accelerator and New Venture Development were introduced:
- This programme connects MSMEs and entrepreneurs directly with students.
- What began as a small pilot has gradually expanded, giving students exposure to entrepreneurship, real decision-making, and the process of building businesses.
- IMI Kolkata sought to prepare students not only for jobs, but also for roles as job creators.
- As part of this approach, pathways related to entrepreneurship, family business, and legacy enterprises are being considered as academic options, in line with national priorities such as Make in India and Viksit Bharat 2047.
Alongside these efforts, the institute has begun reflecting on other ways to broaden its academic and intellectual base. One area under consideration is the Indian Knowledge System. This is still at an early stage and is being explored as a possible way to complement modern management education with insights drawn from ancient Indian philosophies to resolve contemporary business issues.
Refreshing the Recruitment Process
As IMI Kolkata entered the national Top 50 NIRF Ranking, the quality and intent of faculty applicants began to shift.
Key observations include:
- The institute attracted candidates with strong research credentials, relevant industry exposure, and links to leading institutes and research labs.
- Selection panels assessed candidates on academic competence, industry engagement, cross-disciplinary collaboration, and potential contributions to the Centres of Excellence at IMI Kolkata.
- Hiring became more discipline-specific, for example, marketing roles emphasised sales exposure, technical marketing expertise, and the ability to link analytics with execution.
- Expectations were communicated early in the recruitment process, even before final interviews, ensuring stronger alignment with institutional goals.
- Feedback mechanisms were formalised and linked to probation outcomes. Probation became a genuine performance assessment period with early course correction where required.
Key Takeaways
- Leaders across the organisation: Centralised, hands-on leadership is often effective in crisis, but sustained growth requires leaders across the organisation and independent decision-making capability.
- Capability gaps surface as organisations grow: As market and customer expectations evolve, uneven internal capability becomes visible, requiring honest assessment of skills, relevance, and readiness.
- Growth phases demand sharper talent choices: Recruitments and performance evaluations must align closely with future strategic needs of the organisation.
The Road Ahead
With the objective of becoming one of the country’s premier management institutes of choice by 2030, IMI Kolkata is moving beyond stabilisation into a phase of growth and reimagination.
Priorities
- Increasing Outreach
Greater outreach with the academic fraternity and industry for perception building through conferences, for example, the 19th ISDSI Global Conference and the 29th Society of Operations Management Conference, roundtables, and technology fests.
- Curriculum Strengthening
Continuous upgradation of the curriculum to align with evolving industry needs.
- Sharper Faculty Accountability
Faculty performance to be aligned with organisational goals and outcomes, through clear accountability frameworks.
- Focus on Research
Emphasis on high-quality research and funded projects.
- Non-Scholarly Income
Focus on alternative revenue streams like consulting and executive education
At a broader level, this transformation requires:
- Leadership to evolve to implement change effectively.
- Faculty members to adapt with agility to meet the changing requirements of academics and industry.
- Students to be exposed to new ideas, so that their knowledge base widens and mindsets evolve.
Change Management Framework
Understanding How Change Unfolds in Organisations
As seen in the case of IMI Kolkata, organisational change tends to follow a few predictable stages as people respond to disruption and new expectations. Effective leadership adapts its actions at each stage, guiding the organisation from uncertainty to integration.
Here is a framework that explains how organisations typically experience change, and how leadership must respond at each stage.
Stage 1 – Uncertainty
Expected Reactions
- Disruption of familiar systems
- High uncertainty
- Loss of stability
Leadership Actions
- Communicate early
- Provide clarity
- Stabilise structures
Stage 2 – Questioning
Expected Reactions
- Questioning the need for change
- Expectation of status quo
Leadership Actions
- Reinforce rationale
- Share data and consistent messaging
Stage 3 – Resistance
Expected Reactions
- Frustration and pushback
- Passive or active resistance
Leadership Actions
- Hold boundaries firmly
- Avoid personalisation
- Remain consistent
Stage 4 – Acceptance
Expected Reactions
- Change acknowledged
- Compliance begins
Leadership Actions
- Clarify expectations
- Define non-negotiables
- Introduce accountability
Stage 5 – Adaptation
Expected Reactions
- Behavioural adjustment
- Learning through practice
Leadership Actions
- Enable skill building
- Support experimentation
- Reduce micromanagement
Stage 6 – Integration
Expected Reactions
- New systems internalised
- Behaviour becomes instinctive
Leadership Actions
- Shift from control to culture
- Delegate ownership
- Institutionalise processes
Conclusion
IMI Kolkata moved from a difficult phase to a position of credibility through concerted change management and leadership efforts.
Improvements in rankings and reputation followed a strong focus on financial discipline, governance reform, outcome-based education, and clear performance expectations.
Over time, systems and processes were strengthened, people were aligned with the new organisational vision, and results gradually became visible. These actions helped rebuild stakeholder trust.
This journey reflects a common pattern in organisational change. Change is most effective when it is clearly directed and consistently executed.
Looking ahead, IMI Kolkata’s focus will be to sustain progress.
Further growth will depend on shared leadership, sharper accountability, and strong systems that guide everyday decisions.
For more information, please contact:
Dr Mohua Banerjee
Director, IMI Kolkata
