VISAKHAPATNAM: Prof Mylavarapu Chandrasekhar, who took charge as the first director of IIM-Visakhapatnam in March 2017, has been reappointed for the second term and will continue in the office for another five years with effect from Tuesday, March 22.
From taking baby steps from the 2015-16 academic year, the institute of national importance has made its mark and carved out a distinct place for itself among the IIMs.
As the founder director, Prof Chandrasekhar played a key role in building a performance institution, brick by brick, over the last five years. He was instrumental in planning and executing several first-mover endeavors and initiatives.
In an interview to TOI, Prof Chandrasekhar explained his journey in the last five years and his vision for the coming five years.
“Our vision would be to rank among the top 20 business schools of the country in the next five years. We will continue to encourage and incentivise faculty members to pursue activities based on their strength and interests; and excel in teaching, research, and/or allied knowledge areas.
“We have submitted our application under NIRF 2022 and look forward to being benchmarked favorably vis-à-vis industry standards and best practices. Raising the internal resource generation to meet operating expenses, as a step towards self-sufficiency and sustainability, would be yet another priority area,” said the IIM-Vizag director.
The premier business school recently brought out a ‘start-up and innovation policy’, with an allocation of 1% of the expenditure budget towards an innovation fund. “IIM-V is the only IIM to have such a Board-approved innovation policy. It is envisaged that students would avail the benefits of the policy beginning 2022. IIM Visakhapatnam has been encouraging its students to pursue the path of entrepreneurship,” he said.
When asked about the good governance mantra of IIM-Visakhapatnam, Prof Chandrasekhar said that the Institute has put robust checks and balances and internal controls in place, leading to practically ‘nil’ comments in internal audit and CAG audit reports, over the years.
“We were the first IIM to publish the Regulations under the IIM Act, 2017, which were circulated among all the other IIMs as a model to follow. We are the first ever institution to complete the design and engineering and upload 1,800 good-for-construction drawings at the time of tendering itself for selecting the contractor for the construction of our permanent campus. This has resulted in practically ‘nil’ design changes on site,” said Prof Chandrasekhar.
