Krannert School of Management
Encyclopedia
The Krannert School of Management (or simply Krannert) is Purdue University
's school of management. The school was established in 1962 as the Krannert School of Industrial Administration with a $2.7 million endowment
from Herman & Ellnora Krannert
.
The business school offers instruction at the undergraduate, master's, and doctoral levels. The majority of undergraduate classes are conducted in the Krannert Building, which opened in 1964. Rawls Hall
is the home of all the classes in the Masters program. Rawls Hall houses 13 electronically equipped classrooms, a professional career center, a multimedia-based auditorium, 25 breakout rooms, distance learning facilities, and sophisticated computer labs. The building is named for Krannert master's alum, Jerry S. Rawls
. Rawls, the president and chief executive officer of Finisar
Corp., donated $10 million to the Krannert at the Frontier Campaign. The gift is the largest in Krannert history and one of the largest at Purdue. In recognition of his generosity, the Purdue Board of Trustees voted in 2000 to name the new Krannert facility Jerry S. Rawls Hall. The Jerry Rawls Hall was dedicated on October 2, 2003.
The School of Industrial Management at Purdue University was created in 1958 from the merger of the Department of Economics (established in the School of Science, Education, and Humanities in 1953) and the Department of Industrial Management and Transportation (part of the Schools of Engineering since 1956). The Krannert Graduate School of Industrial Administration was founded in 1962 through a gift from Indianapolis industrialist Herman C. Krannert
. The AACSB
accredited the new school in 1967. In the early years, students were required to pursue a second major, in a technical subject, in addition to their coursework in business and management. The curriculum expanded over the following decade and the word "Industrial" was dropped from the schools' names in the mid 1970s. Today, the Krannert name refers to both the undergraduate and post-graduate programs. Krannert was reaccredited by the AACSB in 2008.
(MBA) degrees in a five-year
period.
For 2010, BusinessWeek
ranked Krannert #58 in the nation for its undergraduate programs.
, Master of Science in Finance, and a Weekend MBA. These programs are housed in Rawls Hall
. The school also offers a variety of joint programs with other colleges on campus including the combined Doctor of Pharmacy
(PharmD) and Master of Science in Industrial Administration
(MSIA), the combined Bachelor of Science in Industrial Engineering (BSIE) and Master of Business Administration (MBA), and the combined Bachelor of Science in Mechanical Engineering
(BSME) and Master of Business Administration (MBA)
Krannert also offers 11 month MBA in conjunction with its sister school, the GISMA Business School
in Hannover, Germany. The program is internationally accredited by the AACSB and AMBA. It also offers the International Master's of Management (MBA-IMM)in Conjunction with Tiasnimbas and Purdue. IMM is ranked as top executive programs around the world.GISMA also offers various Executive Education programs.
For 2010, national rankings for Krannert's MBA program included #38 by U.S. News & World Report
and #45 by Forbes, while it was deemed a "Tier 3" school by BusinessWeek
for the same year. Financial Times
ranked the program #54 worldwide (2009), and The Wall Street Journal
ranked the program #12 in a list of U.S. programs of regional influence (2007).
In the 2009 QS Global 200 Business Schools Report
the school was ranked #27 in North America.
, Management (with concentrations in Accounting, Finance
, Management Information Systems, Marketing
, Operations Management
, Quantitative Methods/Management Science, and Strategic Management
), and Organizational Behavior & Human Resource Management (OBHR
).
Krannert's doctoral programs were ranked #23 in the world for 2009 by Financial Times
.
Purdue University
Purdue University, located in West Lafayette, Indiana, U.S., is the flagship university of the six-campus Purdue University system. Purdue was founded on May 6, 1869, as a land-grant university when the Indiana General Assembly, taking advantage of the Morrill Act, accepted a donation of land and...
's school of management. The school was established in 1962 as the Krannert School of Industrial Administration with a $2.7 million endowment
Financial endowment
A financial endowment is a transfer of money or property donated to an institution. The total value of an institution's investments is often referred to as the institution's endowment and is typically organized as a public charity, private foundation, or trust....
from Herman & Ellnora Krannert
Herman C. Krannert
Herman C. Krannert was a businessman and philanthropist in the Midwest. He was married to Ellnora Decker Krannert. He was a successful entrepreneur who made millions in the corrugated fiber products industry and made generous contributions to education and the arts in the Midwest...
.
The business school offers instruction at the undergraduate, master's, and doctoral levels. The majority of undergraduate classes are conducted in the Krannert Building, which opened in 1964. Rawls Hall
Rawls Hall
Jerry S. Rawls Hall is a building on the Purdue University campus, Krannert School of Management. The building is named after Jerry S. Rawls, a Krannert alumnus, who donated $10 million toward its construction. Rawls is currently the Chief Executive Officer of Finisar Corp...
is the home of all the classes in the Masters program. Rawls Hall houses 13 electronically equipped classrooms, a professional career center, a multimedia-based auditorium, 25 breakout rooms, distance learning facilities, and sophisticated computer labs. The building is named for Krannert master's alum, Jerry S. Rawls
Jerry S. Rawls
Jerry S. Rawls currently serves as Finisar Corporation's President & Chief Executive Officer and a member of the Board of Directors since March 1989. Finisar was started by Jerry Rawls and Frank H. Levinson in the year 1988. The Rawls College of Business and The Rawls Course at Texas Tech...
. Rawls, the president and chief executive officer of Finisar
Finisar
Finisar Corporation is a global technology leader in optical communication components and subsystems. These products enable high-speed voice, video and data communications for networking, storage, wireless, and cable TV applications....
Corp., donated $10 million to the Krannert at the Frontier Campaign. The gift is the largest in Krannert history and one of the largest at Purdue. In recognition of his generosity, the Purdue Board of Trustees voted in 2000 to name the new Krannert facility Jerry S. Rawls Hall. The Jerry Rawls Hall was dedicated on October 2, 2003.
History
Herman C. Krannert
Herman C. Krannert was a businessman and philanthropist in the Midwest. He was married to Ellnora Decker Krannert. He was a successful entrepreneur who made millions in the corrugated fiber products industry and made generous contributions to education and the arts in the Midwest...
. The AACSB
Association to Advance Collegiate Schools of Business
The Association to Advance Collegiate Schools of Business was founded in 1916 to accredit schools of business worldwide. The first accreditations took place in 1919. The stated mission is to advance quality management education worldwide through accreditation and thought leadership. It is regarded...
accredited the new school in 1967. In the early years, students were required to pursue a second major, in a technical subject, in addition to their coursework in business and management. The curriculum expanded over the following decade and the word "Industrial" was dropped from the schools' names in the mid 1970s. Today, the Krannert name refers to both the undergraduate and post-graduate programs. Krannert was reaccredited by the AACSB in 2008.
Undergraduate programs
The School of Management offers four undergraduate degree programs. The first three (accounting, management, and industrial management) are built around a common core of professional management courses, while the fourth (economics) combines a broad education in the humanities with an extensive program in economic theory and policy. In keeping with the worldwide scope of the modern manager, all programs include some instruction in the international aspects of business and economics. The "3+2" program is available to outstanding undergraduates in the School of Management. The program allows students to complete their B.S. and Master of Business AdministrationMaster of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
(MBA) degrees in a five-year
period.
For 2010, BusinessWeek
BusinessWeek
Bloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P. It is currently headquartered in New York City.- History :...
ranked Krannert #58 in the nation for its undergraduate programs.
Master's & executive programs
Krannert awards several master's degrees: MBA, EMBA, International Masters in Management, Master of Science in Human Resource Management, Master of Science in Industrial AdministrationMaster of Science in Industrial Administration
The Master of Science in Industrial Administration historically has been a professional Master's degree that provides training in management and business administration....
, Master of Science in Finance, and a Weekend MBA. These programs are housed in Rawls Hall
Rawls Hall
Jerry S. Rawls Hall is a building on the Purdue University campus, Krannert School of Management. The building is named after Jerry S. Rawls, a Krannert alumnus, who donated $10 million toward its construction. Rawls is currently the Chief Executive Officer of Finisar Corp...
. The school also offers a variety of joint programs with other colleges on campus including the combined Doctor of Pharmacy
Doctor of Pharmacy
A Doctor of Pharmacy is a professional doctorate degree in pharmacy. In some countries, it is a first professional degree, and a prerequisite for licensing to exercise the profession of pharmacist.-Kenya :...
(PharmD) and Master of Science in Industrial Administration
Master of Science in Industrial Administration
The Master of Science in Industrial Administration historically has been a professional Master's degree that provides training in management and business administration....
(MSIA), the combined Bachelor of Science in Industrial Engineering (BSIE) and Master of Business Administration (MBA), and the combined Bachelor of Science in Mechanical Engineering
Mechanical engineering
Mechanical engineering is a discipline of engineering that applies the principles of physics and materials science for analysis, design, manufacturing, and maintenance of mechanical systems. It is the branch of engineering that involves the production and usage of heat and mechanical power for the...
(BSME) and Master of Business Administration (MBA)
Krannert also offers 11 month MBA in conjunction with its sister school, the GISMA Business School
GISMA Business School
GISMA Business School in Hannover, Germany, was launched in 1999 as a joint initiative by the state of Lower Saxony and visionary private-sector enterprises. GISMA is a privately funded, self-administering institution of higher education. The School is closely affiliated with the Krannert School of...
in Hannover, Germany. The program is internationally accredited by the AACSB and AMBA. It also offers the International Master's of Management (MBA-IMM)in Conjunction with Tiasnimbas and Purdue. IMM is ranked as top executive programs around the world.GISMA also offers various Executive Education programs.
For 2010, national rankings for Krannert's MBA program included #38 by U.S. News & World Report
U.S. News & World Report
U.S. News & World Report is an American news magazine published from Washington, D.C. Along with Time and Newsweek it was for many years a leading news weekly, focusing more than its counterparts on political, economic, health and education stories...
and #45 by Forbes, while it was deemed a "Tier 3" school by BusinessWeek
BusinessWeek
Bloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P. It is currently headquartered in New York City.- History :...
for the same year. Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
ranked the program #54 worldwide (2009), and The Wall Street Journal
The Wall Street Journal
The Wall Street Journal is an American English-language international daily newspaper. It is published in New York City by Dow Jones & Company, a division of News Corporation, along with the Asian and European editions of the Journal....
ranked the program #12 in a list of U.S. programs of regional influence (2007).
In the 2009 QS Global 200 Business Schools Report
QS Global 200 Business Schools Report
The QS Global 200 Business Schools Report identifies the most popular business schools in each region of the world. It aims to serve employers seeking MBAs at a regional level. It originated in the early 1990s under the partnership Quacquarelli Symonds. The TopMBA Career Guide was made in 1990, and...
the school was ranked #27 in North America.
Doctoral programs
The Krannert Doctoral Programs offer students the opportunity to work closely with first-rate faculty in the areas of EconomicsEconomics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
, Management (with concentrations in Accounting, Finance
Finance
"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...
, Management Information Systems, Marketing
Marketing
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...
, Operations Management
Operations management
Operations management is an area of management concerned with overseeing, designing, and redesigning business operations in the production of goods and/or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as little resources as needed, and...
, Quantitative Methods/Management Science, and Strategic Management
Strategic management
Strategic management is a field that deals with the major intended and emergent initiatives taken by general managers on behalf of owners, involving utilization of resources, to enhance the performance of firms in their external environments...
), and Organizational Behavior & Human Resource Management (OBHR
OBHR
Organizational behavior and human resources is a field of study housed in most business schools that has evolved from the overlap in offerings and objectives from courses taught in organizational behavior and human resource management....
).
Krannert's doctoral programs were ranked #23 in the world for 2009 by Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
.