Bala V. Balachandran

Founder, Chairman of the board and Dean Emeritus, Great Lakes Institute of Management, Chennai, India
J L Kellogg Distinguished Professor (Emeritus in service) of Accounting & Information Management, Northwestern University, USA

Area of Expertise: Finance & Accounting

A teacher by qualification but an academic entrepreneur by choice, Bala Balachandran is one of the best known names in the Indian and American Management Education landscape. His teaching days began as early as in 1960 while as a student at Annamalai University, India from where he moved to Carnegie Mellon, Dayton and finally Kellogg at Northwestern University in the USA where he served as Distinguished Professor for almost 35 years till his retirement in 2008.

With more than 100 research publications and several books to his credit, Prof.Bala’s research interests focus on Strategic Profitability through Customer Centric business strategies. His groundbreaking work in the areas of accounting, forecasting, and strategic decision support systems has earned him numerous scholastic honors, awards, and fellowships. He serves as a consultant to the senior management of many Companies, Educational Institutions as well as the Governments of the United States, India and Malaysia.

He has been at the helm of creating top-rated b-schools and Management programs in the USA, UK, Israel, Thailand, Germany, Malaysia etc. His recent book ‘Living Legends – Learning Lessons’ was published in 2016 profiling 10 leaders (from India and the US) and their distinctive leadership styles. His next book written in collaboration with the legendary T N Seshan titled ‘Yogyathwa’ is about ‘access’ to powerful leadership was released in March 2017.

Prof.Bala has been a key player in revamping the Management education landscape in India since the early nineties. He part of the team that recruited the first set of faculty members for IIM Bangalore in the late 60’s. He has been instrumental in designing the MBA Program at MDI, Gurgaon which was a collaborative effort between the Indian Government, Kellogg School of Management and the UNDP. He was a part of the founding team of the ISB at Hyderabad and chaired the Curriculum and Dean Search committees. Setting up Great Lakes Institute of Management in 2004 in his hometown was the logical next step for the professor turned edu-preneur. Great Lakes now has a presence in Gurgaon as well.

Great Lakes is Prof.Bala’s dream project of putting Chennai on the International Management Education Map. He is a full time faculty member in the area of Accounting and Finance and Chairs the Academic Advisory Council at Great Lakes apart from serving as the Dean and Chairman of the school. The school has grown from strength to strength and is already recognized as one of the top 10 b-schools in the country and has secured prestigious international accreditations such as AMBA, AMDISA etc. The Government of India conferred on him, the ‘Padmashri’ in 2001, in recognition of his contribution towards higher education in India. He is also the recipient of the prestigious AIMA - Kewal Nohria Award for Academic Leadership in Management Education for 2017 and the ‘Jeevan Gaurav Puraskar' at 3rd National Teachers Congress organized by the MIT World Peace University in 2019.


  • “Living Legends – Learning Lessons” (Bala V Balachandran and Kavi Priya), Westland Ltd., 2015
  • “Yogyathwa – Simple Access to Powerful Leadership” (Bala V Balachandran, T N Seshan, Nixon Fernando), Pearsons, 2017

Monographs(white paper)

  • "Reengineering Revisited" (with R. Thiagarajan), Financial Executive Research Foundation, N.Y., May 1999

Peer-Reviewed Journal Articles

  • “Mergers and acquisitions and trade integration : a spatial and temporal study of India" (Bala V Balachandran and Lavanya Chellapilla) - Journal of Global Economics (2016)
  • “Innovation from within - How to energize the organization to reach beyond compliance” (Bala V Balachandran and Mohan Nair) – Journal of Cost Management (2016)
  • “Connecting the Front Line to the Bottom Line: The Next Avatar of Cost Management” (Sudhakar V Balachandran and Bala V Balachandran) – Journal of Cost Management (2016)
  • “Be Distinct or Extinct”, (Bala V Balachandran) – Foreword to the Special Edition of the Journal of Cost Management (2016)
  • "Governance, Risk and Compliance – The Value Driver for good Corporate Governance" Bala V Balachandran and K Shyam Sundar, Journal of Cost Management, December 2012.
  • "Achieving operational excellence through a Strategy Aligned Execution Platform - Extending the ERP Models" Bala V Balachandran and Chandrasekhar Srinivasan, Journal of Cost Management, December 2011
  • "Strategy Aligned, Integrated and Linked Scoring System (SAILS)” (with Keshav Narayan Kantamneni and Mohan Das Pai) in Journal of Cost Management, December 2009
  • "An Investigation of the Informational Role of Short Interest in the Nasdaq Market", Journal of Finance with Desai Hemang; Ramesh, K, Ramu Thiagarajan
  • "Interface Between ABC/M Requirements and Multi-Dimensional Databases", forthcoming in Journal of Cost Management, 2003 with Shyam Sunder
  • "Velocity Costing for a Manufacturing Environment" with David Barter, Journal of Cost Management, January/February 2002, Vol. 16, No. 1.
  • "Optimal Cost Management and Managerial Incentives" with S. Sridhar, Journal of Accounting and Public Policy, Vol. 18, No. 3, Autumn 1999, pp. 193-227
  • "Activity Based Management for Atutomobile - Retail Store", (with Jonathan Booth), Journal of Cost Management, September-October 1999, Vol. 13, No. 5
  • "Activity-Based Management for Systems Consulting Industry" with S. Mahalingam and F. C. Kohli, Journal of Cost Managemnt, May-June, 1999, Volume 13, No. 3
  • "Volume Adjusted Costing: A Quick and Implementable Solution" with Glen Navis, Journal of Cost Management, March/April 1999, Vol. 13, No. 2
  • "Growth Strategies Creating Shareholder Value" (with S. Chaudhuri, Indian Accounting Review, Vol. 3, No. 1, June 1999, pp. 1-17.
  • "What Can Go Wrong with ABC" (with N. Thondavadi), Corporate Controller Journal, Vol. 11, No. 6, Sept./Oct. 1999, pp. 21-28.
  • "On the Efficiency of Cost-Based Rules for Capacity Planning" with (R. Balakrishnan and Siva Konduru), The Accounting Review, Vol. 72, No. 4, October 1997.
  • "Structured Interdependencies and Managerial Control" (with Sri Sridhar), Management Science, Vol. 42, No. 3, March 1997.
  • "Capacity Planning with Demand Uncertainty" (with R. Balakrishnan and Siva Konduru), forthcoming in Engineering Economist.
  • "Multiple Working Basis for Generalized and Variable Upper Boundry Linear Programs", (with A. B. Agbadudu, Operations Research: Methods, Models and Applications, Quorum Books, 1998, pp. 29-48.

Competitive research awards received

  • Indira Gandhi Memorial Award, Chitrahar, July 2001
  • Alumni Faculty Choice Award, 1997
  • Sid Levey Teaching Award, 1996
  • Outstanding Teacher Award, EMP 17, 1988
  • J. L. Kellogg Distinguished Professorship in Accounting, Information Systems and Decision Sciences, 1984
  • Ernst & Young Research Fellowship, 1989, 90,91,92,94,96, 98, 99, 2000, 2001
  • Director, Ernst & Young Center for Leadership and Innovation
  • Coopers and Lybrand Faculty Fellowship, 1978
  • Arthur Andersen Faculty Resident, 1977-78
  • First Prize Recipient of George Nicholson Memorial Award of Operations Research - Society of America, May 1973, (Ph.D. Thesis)
  • William L. Mellon Fellowship, 1971-73
  • U.S. Air Force Scholarship, September 1967-68


Invited News paper/Popular press articles

  • Apr-17 15 coverages including The Hindu / The Hindu Edge/ Times of India/ Deccan Chronicle  Yogyathwa, a book on leadership written by Dr. Bala, Mr. T.N.Seshan (Former Election Commissioner of India) and Mr. Nixon Fernando (lecturer at Great Lakes) was released at a book launch event in Chennai.
  • 14.02.2017 Business Line (On Campus) Entrepreneurship is great, but few students want to take the risk
  • 11.05.2017 Daily News & Analysis Business Schools need to focus on a dyanamic curriculumn
  • 14.05.2017 Business Schools need to focus on a dyanamic curriculumn
  • 14.05.2017 Rediff Online Business Schools need to focus on a dyanamic curriculumn
  • 29.05.2017 Hindustan Times - Education How can Managers handle challenges of an evolving world?
  • 05.06.2017 Business Standard  Embrace Disruption
  • 16.06.2017 Mint  How can Managers handle challenges of an evolving world?
  • 10.07.2017 The Hindu - Edge Nothing is Impossible
  • 14.07.2017 Times of India  80 years young and giving his 100%
  • 17.07.2017 The Hindu - Edge Best of engineering and design
  • 19.07.2017 Business Line on Campus  Great Lakes celebrates Bala 80
  • Oct-17  India Now - Business & Economy  A Bright Chapter
  • 22.10.2017 Business Today  B -School Ranking Special 2017 - Business Schools going green - Green Features
  • 22.10.2017 Business Today  B-School Ranking Special 2017 - Local Turf, Global Reach
  • 22.10.2017 Business Today  B- School Ranking Special 2017 - The Dilemma Of Sharing IP Free
  • 21.11.2017 Business World  B School Ranking : Learning How to Teach
  • 27.11.2017 Financial Express  Way ahead for Management Education in India : Let free market take over says Bala Balachandran
  • 08.12.2017 Entrepreneur Magazine  What's The Future of Entrepreneurship
  • Dec-17  Business India Magazine B School Ranking : Developing a core value system
  • 23.02.2018 5 Coverages - New Indian Express, Dinamalar, India Education Diary,, Daily Pioneer Dr. Bala V Balachandran honored with the prestigious ‘All India Management Association’s (AIMA) – Kewal Nohria Award for Academic Leadership in Management Education for the year 2017’ at the 62nd AIMA Foundation Day & 12th National Management Day that took place in the National capital.
  • 01.01.2018 News7  List of Indians who are making India proud Internationally
  • 26.03.2018 Business Standard  How Bala Swam across oceans to create Great Lakes
  • 07.05.2018 QS Wow News Next practices in Management Education
  • 20.05.2018 Economic Times Magazine  Amazon Vs Google : Battle for India
  • 01.06.2018 Analytics Insight  Great Lakes Analytics – Trend setter in Management Education
  • 27 29.06.2018 Entrepreneur  Technopreneurship: What it is and What it is Not
  • 10.12.2018 Business World Entrepreneurship creating Entrepreneurs
  • 10.12.2018 Business World Focus on the foundation
  • Oct-18 Open Magazine Creating value driven business leaders
  • 25.02.19 6 Coverages - Gulf Times, The Peninsula Qatar, Market Screener, Al Raya, Al Sharq, Al Watan where Dr Bala delivers knowledge sharing session for professionals at Doha Bank, Qatar
  • 19.02.19 India Education Diary, Business Line on Campus  Reflection Book Launch
  • Mar-19  Outlook Magazine Education Icons in South India
  • Jun-19  Careers 360 Students' success, the best medicine for the heart
  • 18th January Careers 360 Inputs from Dr Bala - What B School Directors look for
  • October 2017 Business Today The Infra Push
  • November 2017 Financial Express Learning how to teach
  • November 2017  Careers 360 Live Projects: Enhancing job prospects
  • December 2017 Business India Developing a core value system
  • Jan 2018 Forbes  Lessons to be learnt
  • November 2018 Business World Creating entrepreneurs

Consulting Projects

Rendered multiple consulting projects for the collowing companies:

  • Godrej Consumer Products, Mumbai, India
  • Allsec Technologies, Chennai, India
  • UniRazak, Malaysia
  • Orchid Pharmaceuticals, Chennai, India
  • Karaikal Port Trust, India
  • Solid Systems Engineering, Denver Colorado
  • Air Control Sciences
  • Crisil, India
  • Tata Consultancy Services, (U.S.A. and India)
  • ABC Technologies, Oregon
  • SAP, USA
  • Baxter Healthcare, Deerfield, IL
  • Petrodyne, Dallas, TX
  • Rauland-Borg, Skokie, IL
  • Pennsylvania Blue Shield, Harrisburgh, PA
  • American Crystal Sugar, North Dakota
  • American Health Care Providers, Matteson, IL
  • Felpro Incorporated, Skokie, IL
  • Signature Inc, Div. of Montgomery Ward, Schaumberg, IL
  • Board Member, Solid Systems Engineering Co., Boulder, Colorado
  • FMC Corporation, Corporate Computer Network, Dallas, TX
  • Zacks Investment Research, Chicago, IL

Invited speech/Panel discussion

  • Lecture at the Tech Mahindra Training Center - Mahindra Ecole Centrale, Hyderabad (December 2016)
  • Address to the NMIMS Board of Studies, Mumbai, (December 2016)
  • Address to the Forex team of the RBI as a part of the RBI Staff College program, Chennai, (December 2016)
  • Lecture on Customer Centric Profitability Management, Vellore Institute of Technology, Vellore, (February 2017)
  • Speaker on a live chat show with actor Gautami Tadimalla on Radio city 91.1 FM channel (July 2017)
  • Convocation speaker at the first Convocation Ceremony of MARG Institute of Design and Architecture Swarnabhoomi, Chennai (July 2017)
  • Speaker at the Ashok Leyland Young talent program, Chennai (July 2017)
  • Speaker at the AIMA - 1st Regional Management Conclave, Chennai (August 2017)
  • Guest Lecture to senior management of Lucas-TVS, Chennai (August 2017)
  • Lecture to the faculty, staff and students of the Asian Management University at Kuala Lumpur (December 2018)
  • Address at the YOUR STORY - DISRUPTORS OF TAMILNADU awards ceremony, Chennai (December 2018)
  • Lecture delivered to the senior management team of India Cements Limited on AIMLA (December 2018)
  • Panel Discussion at the launch of the book 'The Made in India Manager' authored by Dr.Ranjan Banerjee and R.Gopalakrishnan, Chennai, (January 2019)
  • Lecture to the students and staff of the Management Department of Annamalai University, (January 2019)
  • Rotary Mid Town - CS Ramachandran Memorial lecture at Chennai, January 2019
  • Lecture to the personnel of Doha Bank, Doha (February 2019)
  • GAVS annual client event, enGAge 2018 at Chicago (October 2018)

Member of Board

  • Member of the Board, Godrej Consumer Products, Mumbai, India (former)
  • Member of the Board, Allsec Technologies, Chennai, India (former)
  • Member of the International Advisory Board UniRazak, Malaysia
  • Member of the Board, Orchid Pharmaceuticals, Chennai, India (former)
  • Member of the Board, Karaikal Port Trust, India (former)
  • Member of the Board, Solid Systems Engineering, Denver Colorado (former)
  • Member of the Board, Air Control Sciences (former)
  • Member of the Board, Crisil, India (former)

Research Grants received

  • Principal investigator for "Cost Effective Uses for High-tech Teaching for Languages," Sloan Foundation, New York.
  • Principal Director for a $1 million endowment Center, "E&Y LIVE: (Leadership Through Innovation and Value Enhancement).
  • Principal Investigator for "Reengineering Revisited" Economics Impact" (with R. Thiagarajan, a $70,000 project funded by Financial Executive Research Foundation, New York.
  • Project Director for the "Management Development Program" in India - a joint collaboration between the Kellogg Graduate School of Management and the Government of India's National Management Program. The United Nations Development Program is sponsoring this program with a three-year grant totaling $547,100.
  • Grant from Peat Marwick Main & Co. in March 1988 and was awarded $150,000 for five years at a rate of $30,000 per year.
  • Wrote a proposal as the Director of the Accounting Research Center to Ernst & Young in February 1989. They awarded the ARC $125,000 for five years at a rate of $25,000 per year.
  • Wrote a proposal to Coopers & Lybrand in New York in March 1989. Expect an award of $60,000 for three years at the rate of $20,000 per year.
  • Principal Investigator for Production and Costs segment of a U.S. Department of Commerce Project on "Consumer Electronics Industry", November 1978-October 1979 ($500,000 for one year).
  • Principal Investigator for a grant on "Electro-Cardiogram and Vector Cardiogram Analysis for Studying the Effects of Air Pollution on the Hears of Animals (dogs, monkeys)" from National Air Pollution Control Administration, HEW, Cincinnati, January 1970-August 1971 ($80,000 for two years).
  • Co-investigator on "System Effectiveness Modeling" from Wright Patterson Air Force Base, 1968-1970 ($127,000 for three years).
  • Co-investigator on "fatigue Damage Analysis for b-58 Air Craft" Wright Patterson Air Force Base, 1967-1968 ($106,000 for three years).
  • "Cost Effectiveness Simulation Model", ORSP, Northwestern University ($2,200, 1 year)


  • IIT Stuart School of Business
  • Babson
  • Bauer
  • Universite De Bordeaux
  • Hkust
  • UMKC
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