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Lake Forest Graduate School of Management

Lake Forest Graduate School of Management
Established 1946 (1946)
Type Private, Non For Profit
President Jeffrey J. Anderson, President and CEO
Postgraduates 252 (Fall 2012 data)
Location Lake Forest, Illinois, United States
Campus Lake Forest and Schaumburg
Colors Red, and White            
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Lake Forest Graduate School of Management is a not-for-profit business school located in Lake Forest, Illinois. It opened in 1946 and has satellite campus in Schaumburg, Illinois. Until 2004, the school was located near, but unaffiliated with, Lake Forest College. In 2004, the school moved its campus to its present location, near the Tri-State Tollway.


Lake Forest Graduate School of Management was created to respond to a business need in the Lake Forest, Illinois area as a shortage of management talent left local industry in need of leadership.

To address the issue, three companies, Abbott Laboratories, Fansteel Metallurgical Corporation, and Johns-Manville Products Corporation joined with Lake Forest College to form the Lake Forest College Industrial Management Institute (IMI) in 1946. IMI provided management training for returning veterans to help them transition into and succeed in business. This turned out to be a win-win proposition as area business and local veterans benefited from this new partnership.

Since then LFGSM amicably separated from Lake Forest College, changed its name to Lake Forest Graduate School of Management, and established itself as a leading provider of both degree and non-degree business management education in the Chicago metropolitan area. LFGSM operates as an independent, private, not-for-profit organization.

As a graduate school of business, the school is run as a business. High performance, an employee-centric culture and commitment to the customer intimacy model are central to the daily operations.

As an independent, not-for-profit enterprise, LFGSM is accredited by The Higher Learning Commission and a member of the North Central Association, LFGSM is authorized to grant Master’s degrees by the Illinois Board of Higher Education.[1]


  1. ^ "LFGSM History Page". 

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