BOSTON – Boston University celebrated the launch of the Ravi K. Mehrotra Institute for Business, Markets & Society at Questrom School of Business on Thursday, September 19, 2024. Made possible by a landmark gift from Ravi K. Mehrotra, the mission of the Institute is to help students, industry leaders, regulators, and the broader public understand and appreciate the role business and markets do, can, and should play in creating lasting prosperity, advancing societal goals, and solving global challenges.
The Launch Celebration included: a conversation with Ravi K. Mehrotra and Questrom School of Business Dean Susan Fournier exploring the important role of business in society; dedication of the Institute by Boston University President Dr. Melissa Gilliam; a panel discussion featuring Anthony Allott, Board Chairperson of Silgan Holdings, James Orlikoff, President of Orlikoff & Associates, Professor Lynn Paine of Harvard Business School, and Om Prakash Bhatt, former Chairman of the State Bank of India, and Independent Non-Executive Director at Tata Motors and Foresight Group; and a keynote dinner by Lawrence H. Summers, former U.S. Secretary of the Treasury and former president of Harvard University.
The aim of the Mehrotra Institute is to drive awareness of the role that business and markets play in contributing to the world economy, societal progress, and individual prosperity. The Institute seeks to work towards a society where the potential of business to affect positive change around the globe is fully realized and harnessed.
Under Director Marcel Rindisbacher, Ravi K. Mehrotra Professor of Business & Finance, the Institute’s initial research pursuits will prioritize current issues within the world of business, but the Institute will also have a focus on non-research efforts designed to spark conversations and increase public knowledge about the role and responsibility of business in a modern, global society.
The Ravi K. Mehrotra Institute will deliver on this vision by creating and supporting:
- Targeted Educational Initiatives tailored to enhance the understanding of students, organizational leaders, policy makers, regulators, and the broader public about the pivotal role of business in society.
- Constructive Dialogue that promotes balanced and insightful discussions on capitalism, with the intent to transcend ideological barriers and raise the level of debate on the societal contributions of business.
- Rigorous, Evidence-Based, and Actionable Research that explores the complex interplay of the tensions that influence the balance between firm prosperity and societal goals.
Ravi K. Mehrotra, the founder of Foresight Group, has been instrumental in revolutionizing the international maritime industry. His visionary approach has not only escalated Foresight Group to new heights but also contributed to setting new standards in corporate philanthropy and social responsibility. “Boston University Questrom School of Business is among the world’s top-ranking schools for business administration and management programs. Questrom makes the ideal home for the institute because of its innovative curriculum, distinguished faculty, the diverse and global perspective it offers to students, and above all, its strategic location in Boston, the world’s most innovative finance, legal, and technology hub. An institute dedicated to exploring the intersections of business, markets, and society plays a pivotal role in bridging gaps in understanding and collaboration between these crucial domains fostering a more informed, ethical, and sustainable approach to commerce and economics.”
Susan Fournier, Allen Questrom Professor & Dean of the Boston University Questrom School of Business, highlights the necessity of exploring the role of business in a global economy, and the responsibility of the Mehrotra Institute to be a leader in this endeavor: “If business schools are to deliver on their missions, we need to confront the realities of public perception of business and the competitive markets in which they operate, especially among young adults. This negativity – the simplified and overarching assumption that business leaders are inherently bad actors in competitive markets that always fail – manifests in sub-optimal policies and regulations, ignores the complexities and trade-offs required in the complex web of stakeholder relations in which businesses operate, and cancels business as a value-creating partner in the ecosystem that attempts to resolve societal grand challenges. We have much work to do as academic institutions of business, and the Mehrotra Institute is positioned to realize and harness the potential of business and markets to affect positive change around the globe.”
The Ravi K. Mehrotra Institute for Business, Markets & Society stands as a beacon of knowledge, aimed at equipping current and future leaders with the understanding necessary to leverage business as a force for good. Learn more about Questrom School of Business’ research institutes here.
About Ravi K. Mehrotra and Foresight Group (Foresight Global Pte Ltd.)
Dr. Ravi K. Mehrotra is Founder and Executive Chairman of the Foresight Group. A marine engineer by profession, he began his career in 1964 with the Shipping Corporation of India. Through hard work and dedication, he rose to the rank of Chief Engineer and was seconded as Managing Director for the company’s international joint ventures. It was through these experiences that he earned the international connections that enabled him to realize his ambitions of running his own shipping company, the Foresight Group, in 1984.
Throughout his long career he has demonstrated the quality that lends its name to the Group, carefully navigating group companies to new opportunities and ensuring the business is equipped with the skills, assets and talent to secure its future for generations to come.
Ravi K. Mehrotra received his Honorary CBE (Commander of British Empire) from Her Majesty Queen Elizabeth II. He is Chairman of European India Chamber of Commerce (EICC), headquartered at the European Union in Brussels and has held several honorary positions, including Director of the Commonwealth Business Council. He has also been a board member with Lloyd’s register. Recipient of Lloyd’s List and Seatrade Lifetime Achievement Award for his contribution to the Offshore and Maritime Industry and is conferred an Honorary Industrial Doctorate from Aries International Maritime Research Institute in Dubai, UAE and in 2021 Royal Holloway University of London conferred upon him the degree of Doctor of Science Honoris Causa.
Ravi K. Mehrotra holds a key to the City of London, continues to be a member of the visiting faculty for the Cambridge Academy of Transport and is a noted speaker at international conferences on issues of shipping and business.
As an entrepreneur and philanthropic by nature, he has created a business empire diversified into oil drilling (offshore and onshore – with a fleet of modern jack-up rigs), energy shipping (fleet of very large LPG carriers), port infrastructure in India, branded retail business and shoe component manufacturing in India, and a maritime training not for profit institute. Ravi K. Mehrotra has set a clear purpose & directive for the Foresight Group to celebrate its centenary in 2084 with good financial health, excellent reputation and all businesses relevant to society. In 2024, Foresight Group is celebrating its 40th year anniversary.
To celebrate the proud occasion of his group’s 40th anniversary and mark his legacy and contributions to international business and society at large, Dr. Mehrotra extended this landmark gift to set up the Ravi K. Mehrotra Institute for Business, Markets & Society at Questrom School of Business.
Learn more about Foresight Group here.
About Boston University
Founded in 1839, Boston University is an internationally recognized institution of higher education and research. With nearly 37,000 students, it is one of the largest private residential universities in the United States. BU consists of 17 schools and colleges, along with the Faculty of Computing & Data Sciences and a number of multi-disciplinary centers and institutes integral to the University’s research and teaching mission. In 2012, BU joined the Association of American Universities (AAU), a consortium of leading research universities in the United States and Canada.
About Boston University Questrom School of Business
Founded in 1913, the Boston University Questrom School of Business is a global top-tier academic research business school. Led by Allen Questrom Professor and Dean, Susan Fournier, Questrom develops business leaders who create value for the world. Questrom redefines transformational business programs, strengthens partnerships with the business community, advances the impact of research on business, and manages the school as a high-performing enterprise committed to excellence with a service mindset. Comprising a renowned full-time faculty of 165 researchers, teaching faculty, and accomplished practitioners, Questrom generates insights to address today’s business challenges and prepares students with the tools they need to succeed from Day 1 in their professional lives. Questrom’s portfolio of academic programs is robust and includes a Top 20 undergraduate program of over 2,200 students; distinctive MBA offerings including 900 students in a full- and part-time MBA, the affordable Online MBA and specialty MBAs in social impact, health, and digital technology; several thriving specialized masters programs in areas including business analytics, mathematical finance, and management studies; and a rigorous PhD program. More than 50,000 Questrom alumni form a powerful global network of leaders driving value creation that changes the world.
