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The London Business School (LBS) is an international business school founded in 1964 in London (United Kingdom). LBS is one of the most prestigious business schools in the world; the school is ranked 1st in Europe by the Financial Times and 1st in the world by the QS ranking. The admission process is extremely competitive and the number of places are limited due to the small size of the campus. The main competitor of LBS in Europe is INSEAD, and in the rest of the world its peer schools are Harvard Business School, Stanford, and Wharton.
According to Brookings Institution, London has largest metropolitan economy in the world with an estimated per capita GVA of £116,800 ($162,200). By way of comparison, London’s economy is roughly the same size as that of Sweden or Iran.
With an estimated 8,615,246 residents in 2015, London is the most populous region, urban zone and metropolitan area in the United Kingdom. London generates approximately 22 per cent of the UK’s GDP. 841,000 private sector businesses were based in London at the start of 2013, more than in any other region or country in the UK. 18 per cent are in the professional, scientific and technical activities sector while 15 per cent are in the construction sector. Many of these are small and medium-sized enterprises.
Although London is home to numerous companies within the United Kingdom, statistics show how important it is to other nations. For example, the most recent data estimates that London exports approximately £92billion worth of products every year while its GDP is greater than the economy of Belgium.
London shifted to a mostly service-based economy earlier than other European cities, particularly following the Second World War. A number of factors contribute to London’s success as a service industry and business centre:
English being the native language and the dominant international language of business;
its position as the capital of the former British Empire;
its location within the European Union, since the EU has a population and GDP larger than the US;
the special relationship between the United Kingdom and United States, and the United Kingdom’s close relationships with many countries in Asia, Africa and the Middle East, particularly those in the Commonwealth of Nations;
its location in a central time zone that allows it to act as a bridge between US and Asian markets;
English contract law being the most important and most used contract law in international business;
relatively low taxes for corporations and non-domiciled foreign individuals;
a business friendly environment (e.g. in the City of London the local government is not elected by the resident population but instead by resident businesses the City of London is a business democracy);
good transport infrastructure particularly its aviation industry;
a high quality of life.
With the objective to increasing its size, the school organised a £100 million funding campaign. At the beginning of 2016, £98 million were collected. £40 million should be used to renovate the Marylebone Town Hall, £28 million for the research, £18 million in scholarships for students, £10 million to increase the school’s endowment, and £4 million that should be used to improve the technology of the school.
The campus is located in Marylebone, on the perimeter of Regent’s Park. The main building, projected by John Nash along with the entire area of Regents Park, was originally built as 26 terraced houses in 1822–23. There are ten pointed cupolas along the roofline. The façade is adorned with Corinthian columns.
LBS maintains a number of facilities, including a sports centre, a restaurant, three cafes and library, that are dedicated for the exclusive use of its community. A privately run pub, The Windsor Castle, is also attached to campus. Most classrooms for the MBA are located in the Sainsbury Wing, the centre of the terrace, most of which are 100-student amphitheatre rooms.
There is no accommodation on campus for students in full-time programmes, although there are rooms on-campus for visiting faculty and executive education participants. Most students choose to live in nearby private residential buildings or in students halls of residence such as the International Students House, London.
LBS is planning on expanding its campus in central London. The business school is in the process of redeveloping the Old Marylebone Town Hall into classrooms and offices.
Courtesy : Wikipedia