IIMB faculty and senior PhD scholars conduct Foundations of Management (FOM) Programme
The five-day residential programme was organized by the Centre for Teaching and Learning (CTL)
19 May, 2026, Bengaluru: The Centre for Teaching and Learning (CTL) at IIM Bangalore concluded the fourth edition of the Foundations of Management (FoM) programme on 1 May 2026. The five-day residential initiative brought together 49 meritorious final-year undergraduate students from diverse disciplines, including veterinary sciences, engineering, commerce, and business administration, from across India.
The Programme Director, Prof. Sushanta K Mishra, Chairperson, CTL, inaugurated the programme on 27 April and warmly welcomed the cohort. The FoM curriculum featured keynotes by IIMB faculty across core domains and sessions led by IIMB’s senior doctoral scholars.
‘Successful brands sustain relevance through consistency’
The programme commenced with a keynote by Prof. YLR Moorthi, Marketing area, on branding, consumer behaviour and willingness to pay. Through interactive discussions and relatable examples, Prof. Moorthi explained how branding often goes beyond advertising to shape consumer perceptions, preferences and emotional connections. Using brands such as Pears and Lifebuoy, he illustrated how successful brands sustain relevance through consistency, trust and meaningful positioning. The session emphasized that consumers respond not only to functionality, but also to aspiration, symbolism and storytelling associated with brands. A key takeaway was the distinction between awareness and credibility: while advertising creates visibility, enduring brand equity and customer loyalty are built through authenticity and trust.
‘Consumer data is a competitive advantage’
Prof. Jitamitra Desai, faculty of Operations Research in the Decision Sciences (DS) area, delivered a session on data analysis and its strategic role in decision-making, using the grocery delivery ecosystem as a central lens.
Through examples such as Amazon, Reliance and JioMart, he highlighted how data-driven differentiation and cost structures shape competitive advantage. Emphasising that “the greatest edge is consumer data”, he illustrated how long-term strategies, inventory control, and ecosystem thinking create market dominance. The session also underlined the importance of rigorous preparation, analytical thinking and engaging with concepts such as big data, lead time and supply chain responsiveness in managerial decision-making.
Understanding shareholder wealth maximization
Prof. Varun Jindal, faculty in the Finance & Accounting area, discussed the role of shareholder wealth maximization as a central objective of firms operating within well-functioning capital markets during a keynote he delivered on day three of the programme. He explained that firms create value by investing in positive value-added opportunities and, in the absence of such opportunities, should return surplus funds to shareholders.
Prof. Jindal clarified that short-term profit maximization differs from shareholder wealth maximization, which is forward-looking. He also examined the separation of ownership and control, leading to principal–agent conflicts and agency costs. Mechanisms such as board oversight, ESOPs, and market discipline through hostile takeovers were discussed as ways to align interests. Overall, the session emphasized aligning managerial decisions with long-term value creation and future growth expectations.
‘Responsiveness is key to supply chain excellence’
Delivering the keynote on day four of the FOM programme, Prof. Amar Sapra, Production & Operations Management area, explained how supply chains create competitive advantage when aligned with strategy.
Apple, he said, exemplified efficiency through outsourced manufacturing with Foxconn, while Amazon demonstrated scale via robotics-driven fulfilment systems like Amazon Sparrow. Key practices include random inventory placement and accuracy checks. Speed-driven models were illustrated through Zara’s rapid cycles, Asian Paints’ frequent deliveries, and Domino's’ quick service. Prof. Sapra stressed that supply chain excellence depends on strategic alignment, whether it be in terms of efficiency, scale or responsiveness, to deliver sustained performance.
‘Effective organizations are inclusive organizations’
Prof. Mukta Kulkarni, Dean Programmes and faculty in the Organizational Behaviour and Human Resources Management area, delivered the keynote address to the cohort on the fifth day of the FoM programme, examining organizations as dynamic systems shaped by a range of internal and external stakeholders.
Moving beyond conventional understandings of formal organizational structures, she highlighted the role of employees, communities and other stakeholders in shaping organizational identity, goals and decision-making processes. Drawing on examples such as community-led palliative care initiatives and citizen-supported policing models, Prof. Mukta illustrated the growing shift toward more open, participatory and adaptive forms of organizing.
She defined organizational structure as the division and coordination of tasks across people, processes and systems, and emphasized that effectiveness depends on culture, empowerment, and responsiveness, rather than being influenced only by hierarchy. Prof. Mukta also reflected on globalization, sustainability and inclusion, underlining the need for organizations to continuously evolve in alignment with changing societal and institutional contexts.
Sessions by senior doctoral scholars
Strategy – Anirudh S
The session by Anirudh S explored strategy through the lens of profitability in a capitalist system. Profit was defined as the difference between value and cost, driven by levers such as willingness to pay, price, and surplus distribution. The discussion examined why firms differ in profitability, emphasizing the role of industry structure. Using Michael Porter’s Five Forces, participants analysed entry barriers, supplier and buyer power, rivalry, and substitutes, with examples like Netflix. The PESTEL framework highlighted macro-environmental influences, illustrated through cases such as Tesla. The session underscored that both industry forces and external context shape strategic outcomes.
Decision Sciences – Ronit Neogy
The session by Ronit Neogy from the Decision Sciences area provided a clear and engaging introduction to linear programming using practical, real-life examples to simplify concepts. He focused on optimization – maximizing profit or minimizing cost – through structured models. The key components discussed included decision variables, objective function, constraints and non-negativity conditions. A fertiliser optimization example and daily-life exercises helped participants understand model formulation. The session also covered types of constraints (binding, non-binding, redundant) and core assumptions. The participants actively graphed constraints, reinforcing learning. Solution methods such as the graphical approach, simplex and dual simplex were introduced, highlighting practical tools for managerial decision-making.
Economics – Pradyun Rame Mehrotra
The session by Pradyun Rame Mehrotra from the Economics area provided a rigorous and interactive introduction to regression analysis, causality and prediction. Using examples such as wages versus experience, the session explained how relationships are analysed while “holding other factors constant” and highlighted the role of unobserved variables captured through error terms.
A central focus was on distinguishing correlation from causation. Through practical examples, such as discounts affecting sales or delivery time variations in Zomato, participants learned to frame predictive versus causal questions. The session also addressed omitted variable bias and its implications for decision-making. Randomized Control Trials (RCTs) were introduced as the gold standard for establishing causality, alongside real-world constraints where experimentation is not feasible. Concepts like Simpson’s paradox were reinforced through hands-on Excel-based simulations. The key takeaway emphasized that managers must critically interpret data, distinguish between prediction and causation, and “climb the ladder of evidence” before making informed decisions.
Operations Management – Abhishek Bhattacharjee
The sessions by Abhishek Bhattacharjee from the Production and Operations Management area provided a comprehensive view of operations management, highlighting its critical role in process design, capacity planning, quality and supply chain coordination. Using examples such as IndiGo, the discussion illustrated how effective capacity optimization can improve service efficiency. Key concepts from queuing theory, including FIFO/LIFO disciplines, average waiting time, and the psychology of queues (where unoccupied time feels longer), were linked to managerial strategies such as pooling and peak-load demand management.
Inventory management was explored through models like Economic Order Quantity (EOQ), which balances ordering and holding costs under deterministic demand, and the newsvendor model for uncertain, time-sensitive demand. Continuous (Q) and periodic (P) review policies, along with safety stock, were also discussed. A beer supply chain simulation demonstrated the bullwhip effect, emphasizing information distortion and coordination challenges. The session concluded with quality management concepts, including TIMWOODS wastes and analytical tools, reinforcing continuous improvement and operational effectiveness.
Public Policy – Indu Poornima S V
The session by Indu Poornima S V examined why managers must engage with public policy as a strategic interface between business, government and society. It highlighted that policy awareness enables firms to navigate legal compliance, access markets, and align with evolving social norms. Through cases such as the Bhopal Gas Tragedy and the shutdown of Sterlite Copper, the session demonstrated the consequences of non-compliance and the complex question of responsibility across stakeholders. Discussions extended to market access and social positioning, with examples like Bumble and brand responses to shifting norms. The session critically examined policy implementation, using gender diversity mandates on corporate boards to highlight issues of tokenism and gaps between procedural and substantive justice. Broader debates on lobbying, corruption and stakeholder roles were also explored. A central theme was the tension between economic growth and development, drawing on ideas associated with Amartya Sen. The session encouraged participants to question whether growth justifies social and environmental costs, emphasizing that businesses must account for societal impact beyond compliance.
Strategy – Biswapriya Saha
Biswapriya Saha from the Strategy area adopted an interactive, discussion-led approach to examine why firms within the same industry perform differently despite facing similar external forces. Building on Michael Porter’s framework, participants identified firm-specific drivers such as resources, capabilities, governance, technology, branding and partnerships. The session emphasized that while external analysis indicates where to compete, internal analysis determines where a firm can win. Key concepts included competitive advantage, sustainable advantage, parity and disadvantage. Drawing on the Resource-Based View, the discussion highlighted the importance of both tangible and intangible resources, such as intellectual property and reputation. The VRIO Framework was introduced to evaluate resources based on value, rarity, inimitability, and organizational support. Examples like Apple and failures such as Kodak reinforced that strategy is about building and sustaining long-term competitive advantage.
Macroeconomics for Managers – Shweta Sogani
The concluding session by Shweta Sogani examined how macroeconomic forces influence managerial decision-making. It opened with a discussion on expected post-MBA salaries, linking individual aspirations to broader economic conditions such as consumption and standard of living. The session introduced GDP and its components, such as consumption, investment, government expenditure and net exports, highlighting their relevance for business strategy. Government spending was framed as a key signalling mechanism for firms. Examples such as the ban and recovery of Maggi and policy incentives in smartphone manufacturing illustrated the impact of regulation, while global disruptions like the Russia-Ukraine war were discussed through their business implications. Core concepts, including inflation, elasticity, and unemployment, were explored from a managerial lens, alongside interpreting the Union Budget and policy signals. The session emphasized that managers must learn to “read the economy” to make informed, strategic decisions.
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