Q.
2 : What seems to be the Key Factors (KSF) for this
transformation of IBA?
Sub-Group - II
• Mr. Asad Khan Luni
• Syed Khurram Hussain Naqvi
• Mr. Iqbal Ahmed
Introduction
• The transformation brought about at IBA was a success
• Strategy followed a systematic approach – Five pronged
• Unprecedented Strategy in the Public run Educational Sector -
Development and Implementation
• Dr. Ishrat Hussain’s role as a paramount in transformation of IBA
Key Success Factors (1/9)
• Leadership is Paramount for success of any organization
• Ambitious Goal settings is necessary for attracting donations
• Ability to Crowd Fund for the Institution
• Persuade Board’s Support in decision making
• Vibrant Governance Structure of the Board – Alumni and Business Leaders
Key Success Factors (2/9)
• Faculty Dynamics – Hiring of exuberant Youth
• Generous Faculty Development Plans
• Strategic use of Contract Managers
• Transparent Management System
• Balancing pressure and credibility in implementation strategy
Key Success Factors (3/9)
Dr. Ishrat Hussain as a Person
• A self made high achiever – Academic and Professional Career
• High level of Intellect, emotional and administrative capabilities
coupled with persistent hard work
• Hunger and Passion – Set high standards for himself and for
organization
• Attracted other high performing individuals around him
Key Success Factors (4/9)
Track Record of Dr. Ishrat Hussain
• Success of reforming State Bank of Pakistan behind him
• Five Pronged Strategies of both State Bank and IBA were almost alike
• Aware of the Challenges faced while reforming State Bank
• Capability to handle pressure coming from various angles
Key Success Factors (5/9)
His Exposure to the Developed World
• Worked with World Bank and with Pakistani Government (SBP)
• Aware of Global Best Practices
• Aware of Local Constraints in Pakistan
• His work with HEC conceptualization and other intellectual pursuits
helped him confronting the challenges
Social Capital and Network
• Easy access to decision makers at the top
• Unblemished track record led to generation of Capital for IBA
Key Success Factors (6/9)
Highly Ambitious Goal Settings
• Ambitious Goals backed by determination to raise funds
• Faculty Recruitment
• Student Enrolment
• Better Performance
• High Reputation
• Bold, Hairy and Audacious Goals Policy (BHAG) to attract people
Key Success Factors (7/9)
Support from Board of Governors (BoG)
• Non-interference Policy
• Active engagement of Board in Policy Making
Composition of Board
• Inclusion of Alumni and Business leaders
• Diverse Governance Structure
Key Success Factors (8/9)
Faculty Dynamics
• Recruitment of relatively young faculty members
• Hiring of Senior Faculty on contract basis
Faculty Development
• Generous Faculty Development Plan
• Managed resistance of existing resources through his enlightened vision
Key Success Factors (9/9)
Strategic use of Contract Managers
• Innovative approach to address skill gaps
• Ensured effective administrative leadership
• Attracted capable Managers to contribute in realization of goals
Transparent Management System
• Quarterly reports on Website – Commitment to openness and Accountability
• Balancing pressure in Strategy implementation
Conclusion
The Success of IBA’s transformation was attributed to combination of Strong
Leadership, Ambitious Goal Setting, Robust Support Structures, Faculty
Development, Strategic Hiring and Transparent Management Practices. Key
Success Factors serve as valuable lessons for other academic institutions
seeking transformation, encouraging an open dialogue about their
transformation.
Thank You
