London Business School

In April 1963 the National Economic Development Council (NEDC) recommended the establishment of a high level business school or institute run on the lines of the Harvard Business School or the School of Industrial Management at the Massachusetts Institute of Technology. In the same year, the Robbins Committee on Higher Education recommended the establishment of two post-graduate schools of business education in the UK.

Following the NEDC Report, Lord Franks was asked to study the problem of establishing a business school or schools. The Franks Report recommended the establishment of two high quality schools, as part of existing universities (London and Manchester) but enjoying considerable autonomy. The schools would offer courses for about 200 post-graduates and 70-100 post-experience students.

A committee was established under Lord Normanbrook to consider the costs and practicalities of establishing two business schools. The committee recommended that the expenditure should be shared between the Government, through the University Grants Commission (UGC), and business. As a result, the government agreed to bear half the capital and running costs of the two schools. The Foundation for Management Education, the Federation of British Industries, and the British Institute of Management sponsored an appeal for £3 million from the business world.

An Academic Planning Board was established for the new London school under the chairmanship of Lord Plowden, with representatives from the London School of Economics (LSE), Imperial College and the business world. The school was to be formally known as the London Graduate School of Business Studies, and informally as the London Business School. The Academic Planning Board first met in June 1964, and the full 21 member Governing Body in November 1964. The two sponsoring institutions, LSE and Imperial College both nominated four members and then approved the full list.

Temporary premises were acquired in Northumberland Avenue, and Dr Arthur Earle, Deputy Chairman of Hoover Ltd was appointed Principal. The first academic appointments, two professors, a senior lecturer and a lecturer were appointed from October 1965.

The School established two post-experience courses, the Executive Development Programme designed for middle managers, which would last 12 weeks and cover the application of analysis and measurement, human behaviour and the environment of business. The Senior Executive Programme would last six weeks, and cover the broad strategy of business. The postgraduate programme was to last two academic years, and lead to the degree of MSc from the University of London. The range of studies was divided into three broad categories, data for decisions, analysis for decisions, and the environment of decisions. Students would also study applied decision-making in the functional fields of marketing, finance, production, personnel and business policy. The first post-experience courses started in February and May 1966, and the first MSc course began with 39 students in October 1966

The School moved to its present home in Sussex Place, Regent's Park in August 1970. New programmes were developed; the doctoral programme began in September 1970, the International Management Programme for MBA students in 1972, the New Enterprise Programme for individuals wishing to start their own businesses in 1979, and the Extended Enterprise Programme or 'Firmstart', aimed at owner-managers of young companies in 1986. The first research institute, the Institute of Finance and Accounting was set up in 1973, the Centre for Management Development followed in 1975, and the Institute of Small Business Management in 1976.

The School is administered by a Governing Body, which discusses major questions affecting the development and work of the School, including financial planning and the appointment of the Dean. The Governors also approve the accounts and perform such other formal corporate business as may be required. The Management Board advises the Dean and Governing Body on the development and implementation of major policies affecting programmes and research activities, staffing, premises and finances. The Management Committee is responsible for taking and implementing administrative and academic decisions necessary for the management of the School. It refers all fundamental academic or constitutional decisions to the Management Board. The School has a network of seven Regional Advisory Boards, covering Africa, Asia and the Pacific, Europe, Latin America, the Middle East, North America and the UK. Each Regional Advisory Board has a Chair, a Faculty Advisor, and a Student Liaison Officer. The School also has an Alumni Board, which represents the views of alumni and makes recommendations on a range of issues to the Governing Body.