The definition of a company’s stakeholders has changed over time. As per Milton Freidman, the investors were a company’s key stakeholders, and a business’s purpose was to generate profits. In modern times, it has been increasingly recognized that the stakeholders of a company include investors, customers, suppliers, employees and government/regulatory agencies, and a company needs to balance the interests of all the stakeholders to be sustainable and profitable in the long run. This has resulted in the broad adoption of a balanced scorecard where metrics are developed to measure and balance the interests of different stakeholders. Many times, the interests of different stakeholders are on opposite ends of the spectrum, and thus, a prudent balance is necessary for the organization’s long-term health. For example, investors would like higher profits, while employees would like higher salaries. Similarly, suppliers would like to be paid higher, while customers would like to pay less. A company needs to retain the faith of all its stakeholders and thus the need for a prudent balance.
In 2019, the ‘Business Roundtable’ consisting of CEOs of top 200 companies such as Apple, PepsiCo, Walmart, Accenture, Blackrock & Amazon stated the purpose of a company in society, which emphasized that shareholder value isn’t everything and companies need to also focus on suppliers, customers, employees & the environment. In line with this philosophy, students at IMT undergo core courses in marketing, finance, operations, IT, strategy, innovation, analytics, entrepreneurship & sustainability & social responsibility. This gives them a 360-degree corporate view and prepares them to choose suitable electives and specialise in the areas of their choice. In addition to classroom teaching, Harvard & Ivey cases, simulations, quizzes, live projects, frequent industry sessions & panel discussions make learning exciting, led by our top-class faculty with an international research profile and supported by our world-class library.
IMT Ghaziabad has earned a remarkable position in the FT Masters in Management Global Ranking forthe year 2023, securing a place among the top 100 global institutions. The institute has achieved an impressive ranking of #20 globally and #3 in India for alum career progression. Furthermore, IMT Ghaziabad has made its debut in the QS World Business Master’s Ranking 2024, achieving a remarkable global ranking of 151+ in Master’s in Management, 101+ in Master’s in Marketing, and 151+ in Master’s in Finance.