Stanford Graduate School of Business

The Stanford Graduate School of Business (also known as Stanford GSB or the GSB) is the graduate business school of Stanford University. Located in Stanford, California, it is consistently ranked among the best business schools in the world[3][4] and is widely regarded as the most selective business school in the world,[5][6] admitting only about 6% of applicants.[7]

Stanford Graduate School of Business
TypePrivate
Established1925
DeanJonathan Levin (since 2016)[1]
Academic staff
114[2]
Postgraduates816 MBAs, 83 MS[1]
101 PhDs in residence[1]
Other students
2,284 (Executive education)[1]
Location
Stanford
,
California
,
United States
CampusSuburban
NicknameStanford GSB
AffiliationsStanford University
Websitegsb.stanford.edu

Stanford GSB offers a general management Master of Business Administration (MBA) degree, the MSx Program (MS in Management for mid-career executives) and a PhD program, along with joint degrees with other schools at Stanford including Earth Sciences, Education, Engineering, Law and Medicine. The GSB also offers Stanford LEAD, an online professional certificate program.

History

The school was founded in 1925 when trustee Herbert Hoover formed a committee consisting of Wallace Alexander, George Rolph, Paul Shoup, Thomas Gregory, and Milton Esberg to secure the needed funds for the school's founding.[8] Willard Hotchkiss became the first dean of Stanford GSB.

The library was formally inaugurated on April 3, 1933. The collection was established with 1,000 volumes and assorted reports.[9] The school moved from Jordan Hall to new quarters in the History Corner of the Main Quad in 1937.[10]

Jonathan Levin was appointed as the 10th dean of the school in September 2016.[11]

Campus
Stanford Knight Management Center, seen from Serra Street.

The Knight Management Center is situated within the greater Stanford campus. There are ten buildings at the Knight Management Center: the Gunn Building, Zambrano Hall, North Building, Arbuckle Dining Pavilion, Bass Center, the Faculty Buildings (comprising East and West buildings), the Patterson Building, the MBA Class of 1968 Building, and the McClelland Building.

The Schwab Residential Center was designed by Mexican architect Ricardo Legorreta. The 158,000 square-foot facility consists of 280 guest rooms.

There are three main art installations on campus, including Monument to Change as it Changes, Monument to the Unknown Variables, and Ways to Change.[12]

Stanford GSB maintains very close links with the venture capital, finance and technology firms of nearby Silicon Valley.[13]

Academics

Stanford GSB offers a traditional Master of Business Administration (MBA) program typically completed in two years, a Master of Science ("MSx program") typically completed in one year, and a doctoral (PhD) program.[14][15] The MBA program is a full-time graduate program that enrolls approximately 420 students each year.

The MSx program is intended for students who are mid-career managers. The Stanford MSx was previously called the Stanford Sloan Master's Program, because students in the program are known as Stanford Sloan Fellows. The Stanford MSx is one of the three Sloan Fellows programs, sharing a similar format with the others at the MIT Sloan School of Management and the London Business School. These programs were initially supported by Alfred P. Sloan, Chairman of General Motors from 1937 to 1956, who envisioned the Sloan Fellowship in his alma mater of MIT in 1931.

Academic partnerships

Stanford GSB has a number of relationships with other business schools. It offers a number of Executive Education programs jointly with Harvard Business School. It also offers one of the three Sloan Fellows programs, coordinating with the others at the MIT Sloan School of Management and the London Business School.[16]

Stanford LEAD Professional Certificate

The Stanford LEAD program (LEAD is an acronym for learn, engage, accelerate, and disrupt)[17] is a one-year online business program in the Graduate School of Business offering access to curricular materials and students specialize personal leadership. The teaching components are coordinated 100% online although there are periodic meet-ups hosted at Stanford each year through the me2we program.[18] The annual me2we conferences have grown to become quite large, and the program's 1,800 LEAD alumni can join remotely.[19]

Faculty and research

The school works at the forefront of global business research and teaching. There are three winners of the Nobel Memorial Prize in Economic Sciences on the faculty (William F. Sharpe 1990, Myron Scholes 1997, Michael Spence 2001), five recipients of the John Bates Clark Award, 19 members of the American Academy of Arts and Sciences, and four members of the National Academy of Sciences.[20]

William F. Sharpe's research interests focus on macro-investment analysis, equilibrium in capital markets and the provision of income in retirement.[21] Myron Scholes’ research has focused on understanding uncertainty and its effect on asset prices and the value of options, including flexibility options.[22] Michael Spence's research interests focus on the study of economic growth and development, dynamic competition and the economics of information.[23]

Rankings
Business school rankings
Worldwide overall
QS[24]1
Times Higher Education[25]2
U.S. News & World Report[26]4
Worldwide MBA
Business Insider[27]4
Economist[28]5
Financial Times[29]3
U.S. MBA
Bloomberg Businessweek[30]1
Forbes[31]2
U.S. News & World Report[32]1
Vault[33]1

In recent rankings, GSB was ranked 1st by U.S. News & World Report,[34] No. 2 by Forbes, 3rd by the Financial Times, 5th by The Economist, and 1st by Bloomberg Businessweek.[35] In the ranking aggregator Poets & Quants Stanford's MBA Program was ranked 2nd in the US.[36] The Financial Times Rankings 2019 gave Stanford Graduate School of Business the fourth place in Customised Executive Education. With transparent methodology these rankings help to explore the range, content and quality of options.[37]

The Stanford Graduate School of Business is the most selective business school in the United States.[38] It has maintained the highest ratio of "applicants to available seats" of any business school in the U.S. for the last decade. It has also had the lowest acceptance rates (typically <7%) of any business school. For the Class of 2018 which entered in 2016, 6% of applicants were offered admission, and the average GMAT score of 737 and average GPA of 3.73[39] are the highest of any business school in the United States.

The business school comprises the Knight Management Center, the Schwab Residential Center (named after alumnus Charles R. Schwab, founder and chairman of the Charles Schwab Corporation), and Highland Hall.

Donations
Schwab Residential Center

In August 2006, the school announced what was then the largest gift ever to a business school—$105 million from Stanford alumnus Phil Knight, MBA '62, co-founder and chairman of Nike, Inc.[40] The gift went toward construction of a $375 million campus, called the Knight Management Center, for the business school. Construction was completed in 2011.

In 2011, alumnus Robert King and his wife Dorothy made a $150 million gift to the school—making history as the largest donation to Stanford GSB—to found the Institute for Innovation in Developing Economies (also known as SEED) to focus on poverty relief in emerging markets.[41] A portion of their gift is used as a matching incentive to encourage other donors to give to SEED.[42]

The gifts by King and Knight are marked as the second and third largest philanthropic pledges to a business school.[43]

Also in 2011, investor and economist Marko Dimitrijevic, a 1985 alumni of the Business School, established the Emerging Markets Innovation Fund, to support teaching, research, and other initiatives in the area of emerging and frontier markets.[44]

Alumni
For a more comprehensive list, see List of Stanford GSB alumni.

There are 26,309 living alumni, including 17,803 alumni of the MBA program. Stanford Graduate School of Business is renowned to have produced a remarkable number of successful business leaders and entrepreneurs, many among the world's wealthiest, from its alumni base.

See also

References
  1. As of September 1, 2016
  2. "Stanford Graduate School of Business: School Profile". Stanford University. Retrieved March 12, 2014.
  3. "BLOOMBERG BUSINESSWEEK NAMES STANFORD #1 U.S. BUSINESS SCHOOL IN 2019-20 MBA RANKING". Bloomberg Media. Retrieved September 19, 2020.
  4. "2021 Best Business Schools". US News. April 2020.
  5. Byrne, John A. (April 17, 2020). "Poets&Quants | The Most Selective MBA Programs". Poets&Quants. Retrieved September 19, 2020.
  6. Kowarski, Ilana (April 14, 2020). "10 Business Schools with Lowest Acceptance Rates".
  7. "Stanford MBA Class Profile | Breakdown". www.businessbecause.com. November 6, 2020. Retrieved December 5, 2020.
  8. Stanford University 1916–1941, pg 79–80. J. Pearce Mitchell, 1958
  9. Stanford GSB History of the library gsb.stanford.edu
  10. Stanford GSB Our History gsb.stanford.edu
  11. SGSB Press Release. May 23, 2016 Jonathan Levin Named Dean of Stanford Graduate School of Business
  12. "Stanford GSB Artwork | Stanford Graduate School of Business". Gsb.stanford.edu. Retrieved July 19, 2016.
  13. Lawton-Smith, Helen (August 30, 2006). Universities, Innovation and the Economy. Taylor & Francis. ISBN 9780203358054 – via Google Books.
  14. "Stanford MSx". Retrieved January 6, 2013.
  15. "Stanford MSX Class of 2018 Profile". Retrieved December 25, 2017.
  16. Bradshaw, Della (March 19, 2012). "A degree of choice for the older and wiser student". FT.com. Retrieved July 19, 2016.
  17. Stanford Graduate School of Business. "Stanford LEAD Program". Retrieved March 9, 2020.
  18. Stanford Graduate School of Business. "Stanford LEAD me2we". Retrieved March 9, 2020.
  19. Stanford Graduate School of Business. "In a Quick Pivot, Stanford LEAD's Annual Event Moved from On-Campus to Online". Retrieved March 30, 2020.
  20. Stanford GSB School profile gsb.stanford.edu
  21. Research statement of William F. Sharpe gsb.stanford.edu
  22. Research statement of Myron Scholes gsb.stanford.edu
  23. Research statement of Michael Spence gsb.stanford.edu
  24. "QS Global MBA Rankings 2020". Quacquarelli Symonds. Retrieved September 26, 2019.
  25. "World University Rankings 2019 by subject: business and economics". Times Higher Education. Retrieved September 25, 2019.
  26. "Best Global Universities for Economics and Business". U.S. News & World Report. 2019. Retrieved September 25, 2019.
  27. "The 50 best business schools in the world 2015". Business Insider. Retrieved September 25, 2019.
  28. "Full time MBA ranking". The Economist. 2019. Retrieved January 27, 2020.
  29. "Global MBA Ranking 2020". Financial Times. Retrieved January 27, 2020.
  30. "Best B-Schools". Bloomberg Businessweek. November 8, 2018. Retrieved September 25, 2019.
  31. "The Best Business Schools". Forbes. 2019. Retrieved September 25, 2019.
  32. "2019 Best Business Schools Rankings". U.S. News & World Report. Retrieved September 25, 2019.
  33. "Best Business Schools". Vault.com. 2017. Retrieved September 25, 2019.
  34. "Best Business Schools". U.S. News & World Report.
  35. "Terms of Service Violation". Bloomberg Businessweek.
  36. "Poets and Quants 2015 MBA Rankings". November 18, 2015.
  37. http://rankings.ft.com/businessschoolrankings/executive-education-customised-2019
  38. Zlomek, Erin. (2013-04-18) India's IIM-A, the World's Toughest B-School to Get Into. Businessweek. Retrieved on 2013-08-12.
  39. "Stanford GSB Entering Class Profile". Retrieved November 24, 2016.
  40. "Nike Founder Phil Knight to Give $105 Million to Stanford GSB".
  41. "Stanford business school receives $150m gift". www.ft.com. November 4, 2011. Retrieved September 21, 2020.
  42. Stanford, © Stanford University; California 94305 (August 13, 2012). "Stanford Institute to Alleviate Poverty with $150 Million Gift". Giving to Stanford. Retrieved September 21, 2020.
  43. Byrne, John A. (October 13, 2012). "Poets&Quants | Largest Donors To Business Schools". Poets&Quants. Retrieved September 21, 2020.
  44. "Innovating for Emerging Markets". Stanford Graduate School of Business. Retrieved September 21, 2020.

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