With the farsighted vision of Shri. Prof. Dr. Vishwanath D. Karad (Founder, Executive President) for the need of private management schools, the autonomous management program was started in 1987. MAEER's MIT started its autonomous management program under the umbrella of MAEER's group. The degree offered then was "Post Graduate Diploma in Management (PGDM)." The program was continued similar to the "University of Pune" till 2001. Later with the vision of "Vice-President & Executive Director" Shri Rahul V. Karad an alumni of "Harvard Business School" , a need for creating a management school with international standard was felt & in 2000 the MAEER's group started focusing the management education on the following key points:
- Industry oriented education.
- Faculty grooming.
- Student's employability.
- Syllabus review.
In order to find a perfect solution to the ongoing management education Prof. V G. Narayanan (Faculty & Unit Head), Harvard Business School, joined the academic board of MIT School of Business. Then in 2006 MIT School of business was been shifted to the newly constructed state of the art infrastructure building. The syllabus of the PGDM course which is offered by MIT SOB is been reviewed every year by the academic council. The AICTE approval in the year 2009 was been received for an in take of 60 (Marketing), 60 (Finance), 60 (Human Resources) and 60 (General Management) students.
The current intake for the management course is 120 (Marketing), 120 (Finance), 60 (Human Resources) and 60 (General Management) students.
MIT group of institutions was established in the year 1983 as its first institute being MIT COE. Eventually many institutions were born under the same umbrella. The management studies started a decade ago from now. The autonomous program was conducted along with the University of Pune affiliation in MIT SOM College in Kothrud campus. In the year 2005, this program was revamped to HBS (Harvard Business School) pattern with the help of prof. V.G Narayan of Harvard University. The process shifted to making a separate institution for management, MITSOB. The pedagogy was enhanced to case study based learning where the students are given real life case studies for discussion in the class room. This method of learning was very different from MBA in many terms such as:
- Case studies
- Focus on real life situations
- Strict attendance norms
- Flexibility of selecting subjects in second year from among 60+ subjects
- Using computer based tools for subjects like statistics, operations, finance, marketing etc.
The PGDM course in MIT SOB got approval from AICTE in 2009 which was an important milestone in gaining recognition all over India. Since then, the institution has gained high popularity for its value based education and higher rankings in reputed business magazines. The placements have been constantly improvised and many of the MNC's prefer MIT SOB as their first choice. Besides gaining high rankings each year, the institute has taken many initiatives to stand out from the crowd. Some of the initiatives are
- Independent audits for the placements
- Introduction of new subjects
- Innovation in management practices
- Excel based education
- Entrepreneurship development
- Six sigma certification course
- NSE certification course
As a result of sustained efforts from the students, faculty and the alumni, now MITSOB is recognized as "THE TOP B-SCHOOLS OF EXCELLENCE" and thus most sort after B-schools in Pune.