Institution building is only one phase of the institutional life cycle. After an institution is built, it must grow, and mature with a healthy long life. Thus, aspects of institution maintenance, and arresting of institution erosion, and institution decay for sustained excellence become increasingly more important as an institution grows older. How is IIMA shaping in the regard? Is it being successful in elongating the growth and maturity phase of its life cycle? Does it show the symptoms of emulating, even if to a limited extent, its more long lasting internationally reputed cousins? Is it maintaining its cherished values, norms and practices-in short, the institutional culture-dreamt and built assiduously in the past by its founding fathers with some care and concern? This paper attempts to provide some perspectives in this direction.