Purdue’s next big move: A new business school

Business degrees blending science, engineering and liberal arts to give future business leaders and entrepreneurs a new competitive edge

WEST LAFAYETTE, Ind. – Purdue’s next big step in a decade-long series of major strategic investments will be to reimagine its current management school into a new business school that will redefine how business leaders are prepared for today’s business-driven world. on technology and the unknowns of tomorrow.

Plans were announced Friday (September 23) for the new school, which will be supported by substantial academic investment as well as a major fundraising effort to revamp a leading business school that will prepare leaders and entrepreneurs for tomorrow, grounded in the hallmarks of a Purdue education, including STEM disciplines and business analytics.

“Students at Purdue’s new business school will receive a comprehensive education, including the history, philosophy, and economic theory of free-market systems, as well as a solid foundation in the liberal arts and communication skills that go with it,” Purdue Chairman Mitch Daniels said. “They will enter the world proud of the careers they have chosen and carefully prepared for leadership and managerial excellence in the most technologically complex fields.”

Amid declining college enrollment rates nationwide, Purdue’s School of Management has grown nearly 33% since 2019. Purdue believes now is the time to capitalize on that momentum. with a new business school, which will further expand the student body and faculty, and double the size of the facility through expansion and renovation.

A rendering of the expansion and renovation plans for the new Purdue School of Business. (Illustration by Ayers Saint Gross) Download image

The school will build on Purdue’s recently inaugurated Integrated Business and Engineering (IBE) degree, highly ranked business analytics programs, new Dean V. White Real Estate Finance program, and the Larsen Leaders Academy, further propelled by a new $10 million gift from Marshall and Susan Larsen celebrated Friday night, to create a competitive advantage for students, empowering them to take the next giant leap into the future of business. .

Long named the Purdue School of Management with the graduate school named after Krannert, the new entity as a whole will initially be known as the Purdue School of Business. Purdue is targeting fall 2023 for its first phase of improvements, involving student enrollment growth and the addition of targeted faculty, as well as additions to curricular and experiential education.

Advances in science in almost every economic sector have created the need for business leaders who can understand not only the data in front of them, but also where the next breakthrough might come from. Students who master the skills of collecting big data and using it to make business decisions become the most valuable professionals of today and tomorrow. Graduates of Purdue’s new School of Business will be in a unique position to bring discoveries to market, scale innovations and effect societal change.

President-elect Mung Chiang said, “Through this relaunch, Purdue will have a world-class business school, which will conduct top-level research and educate many students who will be excellent and proud to create growth and opportunity. commercial. ”

Historically, Purdue has celebrated many graduates who have become CEOs of Fortune 500 companies, with eight alumni currently holding that position, as measured by academic influence. The move to a new business school builds more on a standard of excellence at Purdue, starting with the fields of engineering, where the graduate (4th) and undergraduate (9th) programs are ranked at national scale.

Purdue was the only university recently selected by Fast Company as a “brand that matters”, joining well-known companies such as Ford, McDonald’s, Nike and 3M, and was recently named the #4 most trusted public university in America by Morning Consult. It is also recognized as one of the top ten public universities by The Wall Street Journal/Times Higher Education and one of the top ten most innovative universities for five consecutive years by US News & World Report.

Over the past five years, Purdue University has grown by 23%, with a student population of just over 50,000. It is ranked in the Top 5 of STEM graduates – 71% of its 2022 graduates earned STEM degrees.

About Purdue University

Purdue University is a leading public research institution that develops practical solutions to today’s toughest challenges. Ranked in each of the past five years as one of the 10 most innovative universities in the United States by US News & World Report, Purdue delivers groundbreaking research and breakthrough discoveries. Committed to hands-on, online, real-world learning, Purdue provides transformative education for all. Committed to affordability and accessibility, Purdue has frozen tuition and most fees at 2012-13 levels, allowing more students than ever to graduate debt-free. Learn how Purdue never stops in the persistent pursuit of the next giant leap at https://stories.purdue.edu.

Writer/media contact: Brian Huchel, [email protected]