
Prof. Lakshmi Kumar’s journey into academia is not one that was premeditated or planned. Instead, it was an accident—a fortuitous encounter that led her into a lifelong career. With over 35 years of experience in academia, Prof. Kumar is now the Dean and Professor at the Institute for Financial Management and Research (IFMR) at Krea University. Her journey from an accidental academic to a respected leader in the academic community exemplifies the power of adaptability, resilience, and a deep-seated passion for learning and teaching.
Prof. Kumar’s areas of expertise are vast and varied, including macroeconomics, microfinance, poverty alleviation, and entrepreneurship. Her academic and research interests have not only shaped her professional trajectory but have also contributed to the development of the institutions she’s worked at and the students she’s mentored.
The Unplanned Path to Academia
Prof. Kumar’s career in academia wasn’t part of her original plan. In fact, her initial goal was quite different. “I must confess that I was an accidental academic,” Prof. Kumar admits with a smile. Her initial aim was to venture into the corporate world, leveraging her background in mathematics to pursue a career in finance or economics. However, life had other plans for her. A serendipitous encounter with a principal in her residential complex in Bombay changed everything.
The principal, who was aware of Prof. Kumar’s academic background, invited her to give a lecture on economics to a group of students. It was this spontaneous invitation that ignited her passion for teaching. “I realised that I enjoyed the teaching process much more than I expected,” she reflects. The experience in front of the classroom sparked an interest in education that led Prof. Kumar to change course and dedicate herself to academia.
In the early years of her teaching career, Prof. Kumar admits that she didn’t have the enthusiasm or love for teaching that she later developed. Growing up, she found many teachers to be overly rigid and moralistic. However, as she started teaching, her perspective began to change. She realised that the key to effective teaching wasn’t merely imparting knowledge but simplifying complex concepts to make them accessible. This realisation transformed her approach to teaching, and soon, she began to feel a deep passion for her work in academia.
Prof. Kumar’s Academic Journey: A Steady Rise
From her first steps in academia, Prof. Kumar’s career evolved rapidly. She joined the Indian Institute of Technology (IIT) Madras for her PhD, choosing to remain in India instead of studying abroad, despite the allure of international opportunities. This decision marked the beginning of a series of pivotal moments in her academic career. Upon completion of her PhD, she returned to Chennai, where she joined IFMR, a leading institution in financial management and research.
Initially, Prof. Kumar joined IFMR as a faculty member, but her involvement with the institution grew rapidly. In 2000, IFMR launched its full-time MBA program, and Prof. Kumar was brought on board as a research associate. She quickly rose through the ranks, taking on increasing responsibilities. By 2004, she was appointed to lead the part-time MBA program. At this time, the program was struggling, with low enrollment and limited visibility. However, under Prof. Kumar’s leadership, the program experienced a significant turnaround.
Overcoming Challenges: Revitalising the Part-Time MBA Program
When Prof. Kumar took over the part-time MBA program at IFMR in 2004, the program was facing significant challenges. The number of students per batch had dwindled to just 5-10, and the competition from other institutions was fierce. Prof. Kumar took it upon herself to turn the program around. She recognised that a key factor in the program’s stagnation was its lack of strong connections with the corporate world.
Drawing from her own experience and extensive network in the corporate sector, Prof. Kumar reached out to HR departments and corporate leaders, emphasising the value of the MBA program for working professionals. She made a concerted effort to build relationships with industry leaders, offering tailored programs that met their needs while also enhancing the curriculum for students.
Thanks to Prof. Kumar’s innovative approach, the part-time MBA program saw a surge in enrollment. Within a year, the number of students per batch increased to 40, reviving the program and making it competitive once again. This success not only helped IFMR grow its student base but also demonstrated the power of corporate engagement in enhancing academic programs.
Leadership Roles and Building IFMR’s Reputation
Prof. Kumar’s leadership and commitment to improving academic programs were not limited to the part-time MBA program. Her success in revitalising the program led to further leadership roles within the institution. She took on leadership positions in various areas, including admissions, alumni relations, and the management of MBA and PhD programs.
She was instrumental in shaping IFMR’s reputation as a leading institution for management education. Her initiatives to build corporate partnerships and expand the reach of the institution were pivotal in elevating IFMR’s standing in the academic community. Under her leadership, the institution saw increased corporate sponsorship, placements, and recognition.
Moreover, Prof. Kumar’s leadership extended beyond administrative roles. She worked closely with faculty members, encouraging them to take on leadership positions and get involved in the institution’s growth. Her belief in collaborative leadership was central to her approach, as she sought to build an inclusive environment where faculty and students alike could thrive.
The Role of Corporate Engagement in Academia
A defining aspect of Prof. Kumar’s approach to leadership in academia is her belief in the importance of corporate engagement. She views the relationship between business schools and the corporate world as a symbiotic one, where both sides benefit from mutual collaboration.
“In the competitive landscape of business education, institutions must go beyond just teaching students,” Prof. Kumar explains. “They need to understand industry needs, foster relationships with corporate leaders, and offer students opportunities for real-world experience.”
This belief in the importance of corporate engagement has been a hallmark of Prof. Kumar’s leadership. During her time at IFMR, she forged numerous partnerships with corporations, resulting in sponsorships for academic events, internships for students, and collaborative research projects.
For Prof. Kumar, corporate engagement is not just about boosting enrollment or improving rankings; it’s about preparing students for the realities of the business world. Her efforts to bridge the gap between academia and industry have been pivotal in shaping the careers of countless students.
Fostering Entrepreneurship and Women’s Empowerment
Another key area of Prof. Kumar’s work has been her focus on entrepreneurship and women’s empowerment. Throughout her career, she has been deeply interested in the intersection of entrepreneurship, gender, and development. She has conducted extensive research on women entrepreneurs in India, especially in low-income communities.
Prof. Kumar’s studies on microfinance, poverty alleviation, and women’s savings behavior have shed light on the challenges and opportunities faced by women entrepreneurs in India. She has worked closely with grassroots organisations, conducting field studies to better understand how women can overcome the barriers to entrepreneurship.
In 2005-06, Prof. Kumar began studying women entrepreneurs in Kanchipuram, a town known for its thriving beauty parlor industry run by women. Her research revealed fascinating patterns in the behavior of women entrepreneurs, particularly in terms of their approach to savings and financial management. These insights led Prof. Kumar to develop programs aimed at empowering women entrepreneurs and providing them with the resources and support they need to succeed.
Creating the Center for Entrepreneurship at Krea University
At Krea University, Prof. Kumar continued her commitment to entrepreneurship by helping to establish the Center for Entrepreneurship. The center’s mission is to provide a platform for innovation, incubation, and research, focusing on creating sustainable solutions to global challenges.
The center incubates startup ideas that have the potential to create social impact, particularly in areas such as climate change and poverty alleviation. It also fosters innovation through research conferences, hackathons, and business plan competitions. Prof. Kumar’s vision for the center is to create a vibrant ecosystem where entrepreneurs, researchers, and students can collaborate to create real-world solutions.
Balancing Teaching, Leadership, and Personal Life
Prof. Kumar’s ability to balance her responsibilities as a teacher, leader, researcher, and family member is a testament to her exceptional time management skills. She is known for her structured approach to balancing her academic and administrative roles. “The key to managing multiple responsibilities is to allocate specific time blocks for each task and commit fully to them,” she explains.
Prof. Kumar’s time management extends beyond her professional life. She has always made it a priority to spend quality time with her family, despite the demands of her career. As a mother, she ensured that her children had her undivided attention during their formative years, even while juggling her professional responsibilities.
Her ability to balance work and personal life has served as an inspiration to her colleagues and students alike, proving that it is possible to excel in multiple areas without sacrificing one’s personal life.
Leading by Example: Mentoring Future Academics and Entrepreneurs
One of Prof. Kumar’s most significant contributions has been her mentorship of students, faculty members, and future leaders. She has been an advisor and mentor to many students, helping them navigate the challenges of academia and the business world. Her approach to mentoring is rooted in her belief in the power of listening and understanding.
As a mentor, Prof. Kumar encourages her mentees to think critically and challenge conventional wisdom. She believes that the best leaders are those who are not afraid to question the status quo and seek new solutions to complex problems.
Prof. Kumar’s commitment to mentorship has had a lasting impact on the academic community. Many of her former students have gone on to successful careers in business, academia, and entrepreneurship, carrying forward the lessons they learned from her.
A Legacy of Leadership and Dedication
Prof. Lakshmi Kumar’s journey from an accidental academic to a renowned leader in academia is a story of perseverance, passion, and dedication. Throughout her career, she has demonstrated the importance of adaptability, corporate engagement, and mentorship in creating successful academic programs and institutions.
Her leadership at IFMR and Krea University has left an indelible mark on the academic community. She has fostered an environment where students, faculty, and entrepreneurs can thrive, and her work continues to inspire future generations of leaders and scholars. Prof. Kumar’s legacy is one of empowerment, innovation, and excellence, and her contributions to the field of education will continue to resonate for years to come.
Watch the full interview here:
Intake for 2025 will be with a capacity of only 60 seats. Don’t miss the chance to participate in this transformative journey at IFMR GSB! Apply now and save your seat.
Seize the opportunity to join a top business school dedicated to student success and industry relevance. Apply now to secure your future!
Seize the opportunity to join a top business school dedicated to student success and industry relevance. Apply now to secure your future! Connect with current students and IFMR GSB MBA aspirants to get an insider’s view of the journey ahead. Join: [Official] IFMR GSB – Premier Business School in India _ MBA Admission 2025 – 27: Placements, Fees, Selection Process, Eligibility & More