Business School Rankings Explained

The U.S. News & World Report is made of of both the objective and subjective figures. The magazine seeks “authority opinion about program value and statistical indicators that assess the excellence of a school’s faculty, academic research, and students.” Opinions are gathered from directors, deans, and senior faculty to quantitatively gauge the quality of each respective MBA school; in addition, recruiters for business schools present his or her judgment based on their interaction with graduates. The statistical figures combines measures of the qualities of the incoming students and as well as the faculty with measures of post graduate success as related to{his or her} degrees. 95% of the 402 business schools responded to the ranking inquiry. The formula used to rank the schools included quality assessment (40%), placement success (35%), and scholar selectivity (25%).The Business Week rankings are published on even years in the month of October; these rankings are based on astudent evaluation, an appraisal by corporate recruiters, and an intellectual capital rating. The studentsgenerally answer an online survey consisting of 45 questions. The recruiter survey quantifies the number of MBAs the recruiter’s company hired and from which school in the past two years. The intellectual capital aspect is based on a formula which compiles journal publications, books published, and professor to student ratio.

Forbes magazine calculated a 5-year ROI (return on investment from tuition) for 2002 graduates. Forbes surveyed a total of 18,500 graduates of 102 MBA programs and used their pre-enrollment and post-graduate business school salary data as a basis for comparing post-MBA compensation with the expense of attending the programs.

Wall Street Journal/Harris Interactive poll was the outcome of an online survey of 4,125 recruiters betweenDecember 13, 2005 and March 16, 2006, based on their experiences at schools where they had recently recruited.It is important to note that the rankings were not based on academic quality, but the survey questions were centered on faculty and curriculum. Distinct from other ranking methodologies, the WSJ poll was based on attributes essential to the long-term success of a businessperson such as communication skills, teamwork skills, personal ethics, problem solving abilities, and work etic. The WSJ includesa national list, European list, as well as a regional list of rankings.

The Economist’s methodology utilizes 80% of the responses given by schools and 20% of the figures providedby students and graduates to formulate a ranking system. Some attributes included in these surveys areaverage GMAT scores, professor to student ratio, diversity among each class, job position rates from the school’s career center, 3 months post-graduation employment rates, salaries before and after the program, and alumni network. Some schools end up being left out of top 100 compared to other lists due to the way the details are sorted.The Financial Times polled over 10,000 alumni of 155 MBA schools. The appraisal began in July 2006 and included accredited programs (all around the world) that are at least five years old. The survey had 3 categories divided into 20 areas. (40% of the weight is from alumni, 55% of the weight from schools, and 5% based on research conducted by FT. The FT also produced a comprehensive “standing of standings” which combines the lists from The Economist, BusinessWeek, Wall Street Journal, Forbes, Financial Times.

European Business Schools Flock to the US

In order to expand geographical presence, as well as recruitment of American students, many business schools in Europe moved to the U.S.

So, in May this year IESE campus was opened in New York. It offers its applicants Executive MBA programs. It is known Manchester Business School Campus scheduled its opening in Miami and focuses on Part-time MBA. French SKEMA Business School also decided not to lag behind and plans opening of its office in the United States in the near future.

What experts think?

– Only super-elite European business schools can afford themselves entry into the U.S. market. In particular, IESE School with more than 30 years of experience of cooperation with Harvard University is a clear leader in Europe in development and use of business cases. IESE has tremendous intellectual and economic potential, occupies leading positions in MBA programs for managers, remains a leader in bilingual English-Spanish MBA programs and EMBA, has an extensive customer base in the U.S. and Latin America, is proud of impeccable reputation for many years, as well as experience with global corporations. All of these characteristics and achievements of IESE can guarantee its success in the U.S. market of business education. At the same time, business school without such impressive array of accomplishments will hardly succeed in a highly competitive U.S. market of business education.For U.S. students, studying in one of leading European business schools that managed to break into U.S. business education market offers a possibility of a closer acquaintance with European culture and business environment and creates favorable conditions for finding and networking with European partners, promotion of American companies into European market.

Building any predictions regarding European business schools activities in the U.S. market is not fully justified, but European MBA programs will probably be in demand among a certain part of target audience in the U.S. Residents of the United States do not like leaving their native country, and therefore a possibility of passing European MBA programs in the U.S. (shorter and cheaper) is likely to be quite popular. In addition, some listeners might be motivated by carrying out a comparative analysis of European and American business schools and their MBA programs.In most cases, a possibility of entering an MBA program in one’s native country without far trips is more attractive to target audience not only in the U.S., but also other countries.

In addition to mentioned characteristics, focus on native audience represents one of the main factors for choosing these programs.

A New Approach to Management Education: ICFAI Business School

To be successful in business it is essential to have the right kind of knowledge. To elaborate on the term “right knowledge”, one must be updated with relevant, contemporary and practical understanding of concepts. Management education consists of a lot of core, integrative as well as functional subjects. However, as important the theoretical knowledge is, it is also essential to give complete importance to the pedagogy of imparting that knowledge. Techniques like case studies, lectures, internships and research provide plenty of scope to develop superlative business skills. The new age business schools need to train the students to develop a keen business acumen and optimist attitude because it is necessary for accurate decision making. Analytical skills are as important asset for any business graduate. Imbibing these skills require a case-based learning strategy. Few colleges perform this job better than the top management college of India, IBS or ICFAI Business School.About IBS

Established in 1995, ICFAI Business School has emerged as one of the top class destinations for management aspirants in recent years. The college is known for its excellent infrastructure and extraordinary academicians who impart the best-in- class education to students. The college is unique since it believes in 100 percent case-study approach. There are many campuses of the college situated at different places in India. However, it’s the Hyderabad campus, which has gained the reputation of being one of the top ten management institutes of the country. A constituent of IFHE (a deemed to be university) in Hyderabad, IBS offers multiple programs in various fields of management to students, executives and professionals across India. All the annual Business school surveys conducted by different magazines and journals agree to the fact that ICFAI Business School, Hyderabad is a ground for developing highly qualified, ethical and intelligent decision makers who can add value to the organization. More than 5000 professionals have passed out from the Hyderabad campus alone and make for the who’s who of the corporate world all across the globe.

Campuses

IBS has around 14 campuses spread across the top economic destinations of the country. Some of these cities include names like Ahmadabad, Kolkata, Bangalore, Gurgaon, Jaipur, Pune and Mumbai. Obvious it is that the ICFAI franchisee has made every buzzing economy hub of the country its home. Out of these the campuses at Gurgaon, Mumbai and Hyderabad deserve special mention since they have been ranked amongst the best B-Schools of the nation many times over year after year by leading business journals.

IBS, Hyderabad: Located in the picturesque Cyber city of India, IBS Hyderabad is one of the first three B-schools from the whole South East Asia to be accredited by AMDISA and UGC as SAQS (South Asian Quality Assurance). Further, to give it a better standing against the top MBA institutes of the world, ICFAI Business School Hyderabad has the membership of the Association to Advance Collegiate Schools of Business (AACSB), USA. It is the pioneering B-School to be graded with a grade of A** by CRISIL at the national level.IBS, Mumbai: There could not be a better place to setup a management institute than the financial capital of the country. Leveraging the direct interaction with industry, IBS Mumbai ensures a smooth transition of students into the managerial roles.

IBS, Gurgaon: The College has been set in the top corporate hub of the northern India. Due to the rigours of the faculty and the students, this institute has seen a meteoric rise in its reputation. It has been ranked as A5 by Buisness Standard IMRB.