The annual 4Ps B&M ranking of India’s best B-schools is based on a national perception survey among students, parents, faculty and industry voices. The survey itself was conducted by ICMR (Indian Council for Market Research) in two distinct phases:
THE FIRST PHASE: In the first phase of the survey, ICMR generated a list of 500 B-schools across India. The list was prepared based on a secondary study conducted by ICMR. The 500 B-schools were then divided as per geographical zones, i.e. North, South, East and West. (Institutes offering only 1 year certified courses have not been covered under the purview of the survey). The list was then circulated amongst a select set of 25 B-schools professors (having work/industry experience of at least 5 years) to name “India’s Cult Status B-schools.” A list of the top 30 B-schools named by these 25 B-school professors (based on the frequency of responses) was generated.
SECOND PHASE: In this phase each of the 30 B-schools were further scrutinized based on the following parameters:
• Global Exposure: Student/faculty exchange programs, global linkages, et al;
• Fun Factor: Debates, quizzes and other management based curricular activities
• Course Contents: Number of subjects/papers, upgradation of syllabus, et al
• Faculty: Student/faculty ratio, ratio of permanent/visiting faculty, faculty with relevant industry experience, et al
• Infrastructure: Campus area/location, number of classrooms, library, wi-fi campus, laptop facilities, cafeteria, et al
• Personality Development: The school’s focus on overall personality development, role plays, enhancing communication skills, et al
• Student Profiles/Admissions: Student qualification, background, age distribution, et al
• Research and Writings: Internal journals published, newsletters/magazines/books published, faculty contribution
• Industry Interface: Number of Management Development Programmes/ Executive Development Programmes/seminars, joint corporate training workshops, projects undertaken with corporations, et al
• Placement and Packages: Number of students placed each year, domestic vs. international placements, maximum salary, number of companies hiring – both domestic and international – campus visiting by industry luminaries, et al;
• Alumni: Alumni profile/strength, alumni meets, career paths taken up by the alumni, depth of alumni network and other alumni association, et al
• Parental Perspective: Parental perspectives on respective B-schools
The respondents for the parameters given above were students, faculty members, parents and corporate executives, primarily from the HR departments (as they recruit and interact most with B-school graduates) and CMOs (Chief Marketing Officers). The parameters were divided among respondents on the basis of relevance. However, the ratings for parameters of infrastructure and faculty were collected both from students and faculty members.
The sample size of students interviewed pan-India was around 800. Students covered under the purview of the study were primarily current management students and management graduates. Faculty members of esteemed organisations such as IMT (Ghaziabad), IIT-D (Delhi), IIFT and others were interviewed on the parameters of Faculty, Infrastructure, Course Content and Research and Writings. Apart from this, ICMR also conducted interviews with the corporate HR & CMO fraternity to gain inputs on the parameters of Industry Interface, Placement & Packages and Alumni. The industry/HR professionals and CMOs covered under the research were from well known organisations in the industries of banking & financial services, automobiles, telecom, retail, information technology, consulting and various others.
Each of the above mentioned respondent groups were asked to rate the top 30 B-schools on respective parameters on a scale of 1-10 (1 being the worst & 10 being the best). The final ranking is based on the cumulative mean score on each of the parameters. However, since the parameters of faculty & infrastructure were both rated by students & faculty members, we have shown the cumulative scores. The parameter of parental perspective was rated by parents of students who have pursued or are currently pursuing a management course.
A separate perception survey was conducted by ICMR among management students to identify the Power B-schools apart from the Cult Status B-schools as mentioned above. Students were shown a list of 100 B-schools (excluding the top 30 Cult Status B-schools as ranked in the following pages) and were then asked to name their most preferred B-schools.
The students sampled were also asked to rate the business schools named by them on a scale of 1-5 (1 being the worst and 5 being the best). Based on the overall perception scores that ICMR generated (the median score being 3 on the Likert Scale), the ranking of 70 Power B-schools in India was obtained (see page 100).