DEFINITION of 'International Institute for Management Development - IMD'
One of the top graduate business schools in the world, located in Lausanne, Switzerland. The International Institute for Management Development (IMD) was formed in 1990 following the merger of two management education centers that were originally created by Alcan and Nestle. IMD is set up to be primarily an executive education center and offers no university courses or affiliations.
BREAKING DOWN 'International Institute for Management Development - IMD'
IMD offers both an MBA and EMBA (for more experienced professionals) degree as well as an open executive education program which offers customizable courses. IMD deliberately keeps enrollment numbers very low and recruits applicants from around the world to ensure diverse classroom settings. The institute also publishes the "World Competitiveness Yearbook" which measures the overall economic competitiveness of the world's leading economic nations.