University of management and economics

While creating a special ISM community, ISM University of Management and Economics seeks to become a base for everyone wishing to discover in themselves new abilities and advantages in today’s changing business environment. ISM responsibly encourages every individual to make use of their full powers of wisdom and creativity and never stop along the road of development. 

VISION: a dynamic and modern European university of management and economics, serving lifelong educational needs of individuals, business and society in general.

MISSION:   professional and socially responsible development of high relevance managerial competence and economic thought.

VALUES: are the basis of our activities, the constitution we hold to in our everyday work and proclaim to our clients.

Expertise leadership – creative professionalism
We see expertise as creative professional excellence based on deep knowledge and practical experience and expressed as a holistic vision and as an enabler for insights, alternatives and solutions.

Entrepreneurship – idea, initiative, implementation
We see entrepreneurship as a desire to explore and implement new opportunities to enhance quality and generate a higher value for the organisation as a whole and for each person individually. For us, entrepreneurship is the realisation of creativity.

Social responsibility – harmony of interests of the organisation, its members and society
It is a responsible approach and open relation among the organisation, its staff and society. A socially responsible organisation communicates transparently, is committed to integrity in decision-making and serves the advancement of society.

Sense of community – teaming and cooperation among the staff of the organisation
Working towards a common goal and demonstrating commitment to the University and to each other, as one’s free choice.

ISM University of Management and Economics had its fifteen years anniversary on 11 November this year. The university has come a long way from a school of 400 students to the best business university in Lithuania. It has potential to become a regional leader in the future and share its experience with the world.

Founding a private university in Lithuania fifteen years ago looked like adventurism but we were never afraid of our ambitions. We had a clear goal: to become a regional leader among business schools. Now we have every chance and a great deal of potential to achieve that.

These fifteen years not only allowed the university to learn Western methods of management but also to realise that our region’s experience may be relevant to the world.

If we want to have the edge in the international market we need to be able to offer our unique, authentic contribution. We live in a region undergoing continuous social, political and economic changes. Our experience on how to manage these changes and capitalise on them is relevant and valuable to the world, i.e. to many countries and even whole continents, which anticipate similar transformations. ISM is a place where we reflect on such changes, make sense of and communicate them. Now it is time to go one step further and speak not only on behalf of Lithuania but on behalf of the whole region.

Since starting its activities in 1999, ISM University of Management and Economics had one aim from the very beginning – to offer innovative, qualitative studies and training of management and economics for creative, ambitious young persons and already experienced business managers. Quality and internationality have become the most important priorities of the University’s activities. This aim has been evaluated by International Quality Accreditation (IQA) awarded to ISM in 2006 by the Central and East European Management Development Association (CEEMAN), thus certifying that ISM belongs to universities that offer the most advanced business studies in the region.

Open the ISM door and you’ll find yourselves in an environment where all the conditions to study and develop are created. Spacious, modernly equipped classrooms, computer rooms, the library, which offers the latest business books, and recognised teachers guarantee high quality studies and provide the opportunity to obtain the best results.

ISM in Vilnius and in Kaunas is located in the very centre of the cities, thus the University is easily accessible, and the students have the opportunity to make use of all the advantages of the modern and dynamic cities. The cost of living in Lithuania for foreign students is not very expensive. 

Cost of living 
 
Although the cost of living in Lithuania is not very expensive for foreign students, it 
depends on various factors such as personal habits and lifestyle. Students may reduce living
expenses by using public transport discounts, renting accommodation in groups, etc. 
 
According to the calculations of the Lithuanian Centre for Quality Assessment in Higher 
Education, the average monthly living expenses per student  amount to  LTL 1300 (EUR 
380). 
 
Various discounts are available  to  holders of student cards  (ISIC, EURO<26 and LSP 
(Lithuanian Student Card)). You may obtain a booklet with available discounts¹  at local 
travel agencies.  Please contact the ISM Students’  Association for 
information¹ about the Lithuanian student card. 
 
Accommodation (Kaunas ISM campus) 
 
Since  there is  currently  no ISM dormitory  on the  Kaunas campus, please contact the 
International Relations Office for consultation and assistance  about  housing arrangements 
for all visiting students. Moreover,  at the request of a  student,  the Office may help find 
roommates from among other students.  

Apartment rental.  ISM is located in the centre of the city, close to the old town.  The rental of private apartments depends on the location of  the  housing.  A studio with a kitchen, bathroom,  and  a minimal amount of furniture located in the centre of the city costs approximately LTL 800–1000 (EUR 230–290) per month (excluding  public utilities). A studio further away from the centre costs approximately LTL 400 (EUR 120) per month. 

Public transport. A single bus/trolleybus fare with a student discount is LTL 0.50, a single 
minibus fare is LTL 1.5, and a monthly public transport ticket costs LTL 9. Taxi fare is 
approximately LTL 1.5 per kilometre. 
 
Accommodation (Vilnius ISM campus) 
 
Since  there is currently no ISM dormitory on the Vilnius campus at present, please contact the International Relations Office for consultation and assistance  about  housing arrangements for all visiting students. Moreover, upon the  request of a  student,  the Office may help find roommates from among other students.  
 
Apartment rental. ISM is located in the Vilnius Old Town.  The rental of private apartments depends on the location of  the  housing. A 
studio with a kitchen, bathroom,  and  a minimal amount of  furniture located in the old town/centre of the city costs approximately LTL 850–1000 (EUR 250–290) per month (excluding public utilities). A studio further away from the centre costs approximately LTL 400 (EUR 145) per month. 

Public transport. A single bus/trolleybus fare with a student discount is LTL 0.55, a single 
minibus fare is LTL 3, and a monthly public transport ticket costs LTL 12.  Taxi fare is 
approximately LTL 1.80 per kilometre. 
 
Meals 
 
Breakfast, lunch and snacks are available in the student cafeteria located on the ground floor of the ISM premises in Kaunas. The daily special (one dish) costs approximately LTL 5. The cafeteria offers breakfast, lunch and various snacks until 4 pm. The downtown has a wide 
variety of restaurants and cafes that offer daily lunch specials and is within walking distance. 
 
ISM premises in Vilnius do not have a cafeteria yet, but a lot of downtown cafes and restaurants offering daily lunch specials are within walking distance.  

Facilities for disabled students 
 
ISM premises in Kaunas are equipped with a lift, and there is an access to the building for the disabled directly from the parking lot.  ISM premises in Vilnius do not have any particular facilities for disabled students. 
 
University premises 
 
University premises both in Vilnius and in Kaunas are located in the very centres of the cities. ISM in Vilnius is located in a XIV century building of a former monastery, which has been fully equipped in a modern way.  Being one of the most modern universities in Lithuania, ISM offers a wide range of technical  aids  for the studying process, including multimedia equipment, wireless high-speed Internet, etc. 
 ISM premises in Kaunas have lecture and conference halls, a library, computer rooms, students’ club, administrative offices, and a cafeteria. 

Sports facilities 
 
ISM does not have its own sports facilities on  the  Vilnius  or  Kaunas campuses. Nevertheless, both Kaunas and Vilnius provide an opportunity to do lots of different sports in a variety of sports clubs.  They offer  various  levels of memberships, and most apply discounts for students.  It is possible to enjoy sports like aerobics, tennis, yoga, dancing, skating, swimming,  basketball, etc. 
 
 
 
 

Structure of Services

ISM University of Management and Economics continuously maintains the concept of life-long learning. Whether you are an experienced executive, a prospective master’s degree student, or high school graduate – everyone will find one’s place either at ISM Executive, Graduate or Undergraduate schools. A new generation of researchers is also being developed through Doctoral Studies.

The idea behind the three schools is based upon the principle that strong links bind together the practical goals of business people, the scientific ambitions of graduate students, and the sparkling enthusiasm of undergraduates. The three schools of ISM will meet the needs of future businesses with relevant research and the creative thought of bright ISM graduates and doctoral students.

Doctoral Studies
ISM is the first and the only private university in Lithuania offering a Doctoral Studies Programme in Management and Administration. Doctoral studies are intended for students who are planning their scholarly and academic careers in management and business people who are in need of a theoretical background and new insights into the business environment.

Executive School
The Executive School, joining together academic and training programs, encompasses the broadest experience in business and management education. The Executive School is intended to be the flagship of the rest of the ISM fleet: the Graduate and Undergraduate schools.

Graduate School
The Graduate School encourages aspiring young specialists to follow the direction of today's business needs and foster ideas and better solutions for tomorrow's global economy. The key objectives of this programme are to stimulate innovative decision-making processes and strengthen each student’s ability to identify and respond to management challenges in the international arena.

Undergraduate School
The objectives of the Undergraduate School are to develop the appropriate professional abilities and educate a mature and well-rounded personality. The ISM Bachelor’s Degree provides both a substantial theoretical background and practical experience and also imparts the desire for continuous improvement.

Knowledge for Modern Business
ISM study programmes successfully combine theoretical and practical knowledge. Many of the scientists working here are acknowledged practicians, thus they are well aware of the problems that modern business faces and of the knowledge required to solve them. University teachers are also pursuing active academic activities through researching the phenomena of management in the states of the Baltic Region – ISM is one of the initiators of the Baltic Journal of Management. The University actively participates in the activities of international science organisations, where it exchanges up-to-date knowledge and experience with partners.
International business prospects for students are ensured by the experience of the ISM founder, the Norwegian School of Management BI, and lecturers invited from all over the world. Close integration of science and business is encouraged through modern management of the University – the Senate, the Rectorate and the Business Council, which advises the President on issues of formulating the business strategy of the University and strengthens University and business partnership relations.

Social Responsibility
ISM seeks to educate successful and responsible business leaders. The University was the first in Lithuania to respond to the global call for business schools and academic associations to advance corporate social responsibility worldwide. ISM has committed to adhere to the Principles for Responsible Management Education (PRME), which were unveiled by a group of scholars and leading academic organization at the UN Global Compact Leaders Summit in July 2007. PRME provide a framework for academic institutions to advance the broader cause of corporate social responsibility and incorporate universal values into curricula and research.

ISM is also one of the first universities in Lithuania joining the UN Global Compact and thus becoming a part of the National Network of Responsible Business Organisations. The members of this network and the Global Compact comitted committ to aligning their operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption. By doing so, business, as a primary driver of globalization, can help ensure that markets, commerce, technology and finance advance in ways that benefit economies and societies everywhere.

The University has achieved a lot in enhancing responsible and ethical leadership. The course of Business Ethics is offered to the students of all university cycles. This topic is dealt with in the final theses of bachelor, master and doctoral students. ISM shares knowledge and experience with others. The University collaborates with Alma Adamkienė’s Charity and Support Fund delivers lecturers at the Leaders’ School initiated by the Fund.
The University has supported National Students’ Academy established by M. Rostropovich Charity and Support Fund.  The main objective of the Academy is to take care and to support talented schoolchildren – future research, political and cultural leaders.

Start of ISM
The predecessor of ISM was the Business Training Centre, a well-known executive training institution in Lithuania. It was founded in 1995 by the BI Norwegian Business School and Kaunas University of Technology.
ISM University of Management and Economics was established in Kaunas in 1999 as the first privately owned institution of management education in Lithuania. The main founders of ISM are the BI Norwegian Business School, the largest business school in Europe, and the Innovation Norway (former Norwegian Industrial and Regional Development Fund).

ISM today

First private university in Lithuania

Campuses in Vilnius and Kaunas

Doctoral, graduate and undergraduate studies

ISM Executive School - master of management studies and trainings

Research: knowledge and business development

Over 2000 students

Over 2000 Alumni

84 Partner Universities

Exchange and double degree programmes in 39 different countries