New Delhi: Research organization Centre for Forecasting and Research, or C-fore, conducted the Mint C-fore survey to evaluate the performance of business schools in India for the academic year 2007-08.
Click here to see ‘Scores by evaluation’
For the purpose of ranking, the schools were divided into two categories—government- or public sector-funded and private schools. C-fore’s flagship ranking only includes two-year full-time programmes, but one-year programmes, such as those offered by the Indian School of Business, Hyderabad, and the Great Lakes Institute of Management in Chennai, have been ranked separately based on industry perceptions of faculty.
Researchers collected data over the last five months, using a combination of surveys, interviews and the Right to Information Act.
Managing logistics: The XLRI School of Business and Human Resources (above) was one of the 208 business schools that participated in the survey. It ranked first among private management institutes in the country. Indranil Bhoumik/ Mint
The survey was open to all business schools in India at www.indiabschools.com, whe-
re a questionnaire designed for the survey could be downloaded. Invitations were also sent out to more than 700 business schools to participate.
In all, 208 business schools participated in the survey. The validation exercise was carried out by a special team which cross-checked the data by asking for necessary documents such as appointment letters, balance sheets and annual reports, etc. The veracity of the information was also checked by the mystery shopping method (whereby a researcher visits a management school incognito to gather information).
The objective scores were obtained by evaluating business schools against the following five broad parameters:
• Intellectual capital
• Placement performance
• Industry interface
• International linkages
These were further divided into sub-parameters, as shown in the table.
Marks were allotted to a business school against each sub-parameter by normalizing against the topper for that parameter. For example, if Indian median salary is given a weightage of 130 marks for the purpose of this survey, and the highest median salary offered at any institute, irrespective of category, is Rs1.5 lakh per annum, then marks allotted to an institute where median salary offered was Rs3 lakh per annum would be 3/15x130, that is 26.
For publication in reputed international journals, 10 marks per paper were assigned; the maximum limit was 200 marks. For Indian journals, only papers published in refereed journals were considered.
The satisfaction survey of recruiters was conducted online at Indiabschools.com; 694 recruiters participated. Recruiters were asked to rate business school graduates they were familiar with against six parameters, namely, effectiveness in application of knowledge of subject or skills, analytical skills, communication and presentation skills, creativity, proactive attitude and ability to work in a team.
A perceptual survey was also conducted among faculty members of different business schools, who were asked to rate the schools they were familiar with on a 10-point scale against different parameters. The rating they gave to their own institute was not considered.
Sectoral business schools, such as the Institute of Rural Management Anand, were ranked separately under four broad parameters, that is, intellectual capital, industry interface, infrastructure and placements.
Perceptual ranking of university departments was also done separately.