A GENRAL STUDY OF B-

SCHOOL SURVEYS
INDEX
Chapter – 1 Introduction
1.1 Industry Overview
1.2 Profile of Organization
1.3 SWOT Analysis
1.4 Competitor’s profile
1.5 Problem of Organization

Chapter -2 Objectives and Research Methodology

2.1 Objectives of Study
2.2 Scope of Study
2.3 Significance of study (managerial usefulness)
2.4 Research Methodology – Data Sources, Sample unit, Sample size, Data
Analysis methods

Chapter – 3 Conceptual Discussion

General Theory about the topic and that particular firm

Chapter – 4 Data analysis

4.1 Tables
4.2 Graphs / Charts
4.3 Inference

Chapter -5 Findings and Conclusion

Chapter – 6 Recommendations
Chapter1:
Introduction
EXECUTIVE SUMMARY

Management education is today’s hottest topic across the globe. 93% students* opt for MBA
in various streams after completing their graduation. Today students can find varied
specializations of MBA related to their field in graduation, for example the new
specializations are MBA in Hospital management, MBA in Technology management to name
a few. But because of the job constraints in India for the specialized fields, most of the B
Schools are offering only traditional specializations like Marketing, Finance, HR, Retail
Management, International Business to name a few. As of today there are approximately
2400 B Schools in India, out of which 2000 are AICTE approved and the remaining 400 are
unapproved private B Schools. Together they have nearly 1,90,000 seats for a total pool of
3.5-4 Lakh MBA aspirants who sit for National and State level exams. As the numbers of
seats are fewer than the total pool of available students, getting students to enroll should not
be a problem for these 2400 B Schools, on the face of it.

But the situation is on reverse. Every year since last 2-3 years, an increasing number of B
Schools are finding it tougher to fill the complete intake capacity of their MBA or PGDBM
batches by the time they begin their sessions in the month of June. It’s not about the top 50
best known B Schools, which have enough pull effect to attract excellent numbers and
thereby have the privilege of even providing a waiting list for prospective students.

The second and third tier of B Schools. Almost all of these B-Schools are privately owned
and funded and many were set up with the noble intention of providing management
education to those who cannot make it to the top B Schools. Some were also set up to provide
education to a special section of the society.

The primary reason being that these colleges never figured out the changing dynamics of the
market or the way MBA applicants have been choosing B Schools in the past few years. B
Schools are just focusing on filling up their seats through advertisements and lucrative offers
like free laptops, foreign tour and many more. But they miss out on the basic things that the
students are now a days looking for while taking admissions in any B school i.e. the
placement records with the average and highest salary packages, standard of the companies
participating in the placement session.

Fee structure of some of the B Schools are a bit on the higher end and parents are even
managing the same either through their savings or through educational loans for the bright
future of their wards But in return of that the students and the parents are concerned about the
ROI on the money they are investing. The students wants to get placed with well know
reputed brands and that too with a decent salary package. This is the area where the B schools
are failing in establishing themselves especially after the 2008 slowdown era. Good brands
with good packages mostly fill up their slots through top B Schools and the smaller ones are
neglected. That the reason most of the students now a days prefer to go abroad for MBA
courses considering that they will get at least an International exposure while studying which
will increase their chances of placements after completing the studies.

Also the currency factor comes into picture where the earnings will be more as compared to
India. Apart from International exposure the other factors where the top and International B
Schools score are the Research facilities, Industry interactions, Research projects from
corporate sector which gives students a chance to experience the live situations.

1.1 Industry overview

MDRA has an excellent industry interface. Our experience of working in a variety of

industrial sectors gives us diverse knowledge and an in-depth perspective into the working of
the industry in general and the competence to handle any kind of project. Our client base
encompasses all major industrial sectors, multilateral funding agencies and public sector
organization. Clients of MDRA enjoy the benefit of its expertise and experience in a range of
diverse industry segments. MDRA has helped service providers (retail chains, HR,
infrastructure, exploration, etc.), goods manufacturers (automotive, durables, etc.) and
exporters (of services, goods and investment) equally to gain market and consumer insight
and to strengthen their positioning in their respective markets

Automotive :

With the entry of global players and launch of many new vehicles by existing as well as new
players, the automobile market is getting very competitive. Marketers need to strategize every
act starting from new product concept to after sales service for each of the segments of their
markets. They need a deep understanding of their position in each of the market vis-à-vis that
of competitors.

MDRA has helped automobile companies study the volatile market and helped them in
determining various factors influencing the buying decision.  It is also important to analyse
the effect of the increasingly consumerist lifestyle on automobile buying and sales. MDRA
has done studies in this respect. MDRA has also studied the market for unique products like
car-styling kits. The effects of seasonal changes on automobile sales have also been analysed.
Clients:

 TVS Motor Company

 Honda Motorcycles and Scooters India Ltd. (HMSI)
 NTF India Limited

Consumer Durables and Non- Durables :

India's fast moving consumer goods (FMCG) sector is the fourth largest sector in the
economy. According to an India Trade Centre estimate, the total FMCG market is set to
treble from US$ 11.6 billion in 2003 to US$ 33.4 billion in 2015. The surge in consumer
spending along with the changes in consumer tastes and higher penetration of the organized
sector in several commodities in the future is likely to ensure high growth rate across a range
of FMCG categories.

MDRA has done studies to assess the demand of various consumer goods. With growing
competition and arrival of foreign brands, it is only natural that the domestic and old brands
witness erosion in market share. MDRA has assessed not only brands under study but also the
competitors of the brands to get at the core of understanding the buying process.
Clients:

 Sony India Pvt. Limited

 MTR Foods Limited
 Temptations
 Hariyali Kisaan Bazaar
 DSCL (DCM Shriram Consolidated Limited)
 Fenesta Building Systems

Infrastructure :

Infrastructure is always an important part of the economy in any country. It is not only an
indicator of development but also a vital resource for development. The increasing focus
on roads and highways have seen a revolution in movement of road traffic, leading to an
increase in road safety, speed and user satisfaction with roads. It becomes very important
to measure customer satisfaction to bring about future reforms. Also with growing
awareness and exposure, the expectations of consumers undergo a drastic change. MDRA
has done pioneering work in various road-user satisfaction studies and other infrastructure
related studies for organizations like NHAI, Ministry of Power etc.

Clients:

 NHAI (National Highways Authority of India)

 HPRIDC (Himachal Pradesh Road & Other Infrastructure Development
Corporation)
 RMSI Pvt. Limited

Oil and Natural Gas :

The importance of Oil and Natural Gas in the growth and progress of a developing
economy like India is immense. The demand for both oil and natural gas is increasing
among both, industrial as well as individual users. With environmental concerns
necessitating the use of cheaper and more energy efficient technologies, the government as
well as the public has shown keenness towards natural gas.

MDRA has extensive experience in this sector, having worked for all major oil and natural
companies in the country. It has done extensive market potential assessment and demand
estimation studies, feasibility studies and customer satisfaction studies.

Clients:

 Indian Oil Corporation Limited (IOCL)

 Bharat Petroleum Corporation Limited (BPCL)
 Oil India Limited (OIL)
 Wood group Engineering India Pvt. Limited (formerly JP Kenny Triune
Engineering)
 Hindustan Petroleum Corporation Limited (HPCL)
 IBP Co. Limited (Now merged with IOCL)
 Gas Authority of India Limited (GAIL)
  Oil and Natural Gas Corporation (ONGC)
 Reliance Industries Limited
 Ministry of Petroleum, Government of India

Power

The Indian power sector has essentially been a public-enterprise dominated sector. Only
recently it has opened up to the entry of private players. The sector is presently going
through a process of reform and restructuring. These recent reforms have exemplified
changes in the players' role for providing policy directions in regulating and running the
sector and warranted the need for various surveys on the effectiveness of these reforms.
MDRA has studied the various recently introduced reforms in this sector and analysed
their effectiveness.

Clients:

 Ministry of Power, Government of India

 Asian Development Bank
 CVC (Central Vigilance Commission) Government of India
 Association of Submersible Pump Industry (ASPI)
 Delhi Vidyut Board, Govt of NCT of Delhi

Media and Communication :

MDRA has vast experience in the media and communications sector and has worked with
many of the leading newspapers and television channels in India. MDRA has conducted
extensive surveys in various fields for these media organizations. Some of these studies were
pioneering studies in the country like the first ever B-school rating survey in association with
AIMA (All India Management Association) and Business India as early as in 2000. Similarly,
a number of assignments related to retailing, banking, FMCG, life-style, elections, etc. have
been conducted for these organizations.

Clients:

 Doordarshan News
 Times of India
 Outlook
 Frontline
 Business Today
 Outlook Money (formerly Intelligent Investor)
 Zee TV
 Aaj Tak
 Financial Express
 Economic Times
 Cosmopolitan
 BBC
 SAB TV
 ZEE Turner Limited
 IBF (The Indian Broadcasting Foundation)
  Loral Communication USA
 World space
 Department of Information Technology, Government of India
 Department of Telecommunication, Government of India

Two HMP Communications Pvt. Limited

Retail :

The Indian retail market is the fifth largest retail destination globally and has maintained its
position as the most attractive market for retail investment for three consecutive years- 2006,
2007 and 2008. Mom and Pop stores command a very important share of the retail industry in
India while organised retail comprises only about 4.6%. If this share increases to 10% by
2011, the size of organised retailing could touch US$ 55 billion – a CAGR of over 35%.

At this time of the retail revolution, MDRA can boast of considerable experience and
expertise in this sector. MDRA has provided market insight as well as customer satisfaction
indices to some of the biggest retail ventures in the country. Not only this, MDRA has helped
these companies formulate market strategy by studying the retail scenario in the country.
MDRA’s work in this sector has also been featured as a Harvard Business Review case study.

Clients:

 Hariyali Kisaan Bazaar (DSCL group)

 Foundation for MSME clusters
 Sony India Pvt. Limited
 IBP Company Limited

International Trade :

With globalisation resulting in the diminution or elimination of state-enforced restrictions

on exchanges across borders and with the increasingly integrated and complex global
system of production and exchange that has emerged as a result, international trade attains
new meaning and importance. With the coming up of multinational corporations in all
parts of the world, trade and business among different countries of the world has never
seen such a boom as in recent times. MDRA’s work in this field entails research on various
Indian multinationals.

Clients:
Indian Institute of Foreign Trade (IIFT)
Ministry of Commerce, Government of India
 1.2: Profile of organization

Marketing and Development Research Associates (MDRA) is a premier marketing

research and consulting organization in India with focus on quantitative and qualitative
research. We provide strategic business planning solutions based on research findings and
historical data analyses of our clients' business.

Marketing and Development Research Associates (MDRA) was established in 1993 with

an aim to provide quality research and consultancy services in the country.

Over the years, MDRA has worked with some of the biggest and most reputed organisations
in the country and has done path-breaking and pioneering work, in the process setting high
standards for both itself and for its competitors. The portfolio of activities undertaken by
MDRA encompasses various fields and is multi-disciplinary in character.

MDRA helps organizations bring vital market data into their strategic planning processes in
order to improve customer satisfaction and enhance competitive advantage. It specialises in
customized as well as syndicated research.

In this age of cutthroat competition and complex corporate environment, companies require a
research firm that can go beyond the bounds of conventional practices and adopt unique and
innovative techniques and practises. Our strength lies in custom-designed methodologies that
we use to study, understand and explain the market trends.
Expertise

 Customer driven research tools that capture the voice of the customer.
 A process of translating research information into a clear action plan.
 Helping clients integrate required actions with strategic and organizational  priorities.
 Adoption of unique and custom-designed methodologies to address the needs of
companies in the complex and globalized current market scenario.

MDRA has extensive experience and expertise in carrying out the following types of surveys:

 Household Surveys
 Corporate Surveys
 Institutional Surveys

Key Areas of Research:

 DEL (Defection and leakage) Analysis (MDRA-Proprietary)

 Market Structure and Segment Analysis
 Advertisement and Brand Effectiveness Research
 Consumer Research
 Industry Rating and Performance Studies
 Customer Satisfaction, Retention & Loyalty Studies
 Customer Value Measurement
 Market Potential Assessment and Demand Estimation
 Market Strategy Formulation and Implementation
 Product & Pricing Related Studies
 Impact Assessment Studies
 Opinion Polls/ Exit Polls and Election Analysis

1.3. SWOT Analysis OF MDRA

A SWOT analysis is strategic planning technique used to help a person or organization
identify the Strength ,Weakness , Opportunity ,Threats related to business .it helps a firm to
have awareness of its environment ,Grab opportunity ,tackle threats and thereby ensure its
survival and success .

Strengths :
It includes the component that give a business advantage over the Competitors.
 Brand image at media survey
 Project execution at minimal cost
 Outsourcing
 Expert in C-SAT surveys
Weakness :
It includes the internal components that put a business in a disadvantage with the competitors
 Less human resource administration
 Infrastructure
  Minimal capital
 Weak management
 No expertise in FMGC
Opportunity :
These are the external elements that a business could exploit to its advantage.
 Big data
 Research Project in retail , Automobile ,FMCG sector etc

Weakness :
These are the external elements that could cause trouble and effect business in a negative
manner
 Attrition rate is high
 No corporate tie- up
 Data privacy is low

Porter's five force model :

 intensity is high- following cases
 when the number of player is few oligopoly
 when market growth is slow
 in case of the exit barriers are tough
 customer have low switching cost
Case of MDRA ,The competition is intensive from global as well as domestic
competitors all the factors mentioned above hold to expect one of the market
growth. A little scope is that the market growth which reduces the intensity to
a certain extent .
 Threats of new external entry of new complete in a market weakness of power of the
existing from the threats of new in sentence very high in following case the capital is
required to start a business is low the key technology is not difficult to acquire the
product is not differentiated the switching causes love the market is expected to rise
rapidly in case of a threats to the new entry in either very high not very low because
his business are entering into the markets is there is no barrier to entry and it does a
face on nikal part of the threats that that arises on a basis of profit margin which for
the depend on accuracy of solution provide on effectiveness on a field team threads
are substitute products and services that thats is higher in the following cases will
substitute product or service unavailable customer can easily find the product or
service at the same time at the lower price the quality of subtitle is almost similar to
the quality of existing product in a case of MDR even thought there are many
products successfully completed thought well planned to search the completed it does
not have the high threats of substitute because their products services and database are
effective prices 5bhavan power of the customer it means the extend of control with a
customer has to dribble down the price of a product the beginning power of the buyer
is high in the following situations when there are a few buyers chasing too many
products when the buyer is purchase in bulk the product is not differentiated when the
switching the cost of a customer is law when the buyer is at price sensitive when the
customer is integrated happens in case of a it says the company have a competitive
pricing IT services with the less subscribe it is a higher at over the buyers it is a loyal
client and price sensitive customer who are willing to get the services bargaining
power of supplier means and house from the position of a company is is in negotiation
with the supplier of raw material the power of supplier is high when the number of
 buyers if you are they are concentrated as well as organised in a company is not an
important customer their fuel or even substitutes available of the supplied raw
material if the switching cost of one supplied to the another is high

1.4 Competitor’s are :

by Unknown Author is licensed under

KANTAR IMRB
 Kantar IMRB is a highly reputed market research and consumer consulting
organization. Kantar IMRB partners its clients across the entire brand life-cycle
through a unique mix of innovation and analytical thinking to design customized
solutions that deliver the greatest impact.
 Kantar IMRB’s suites of solutions are designed on frugal, agile innovation and add
value, real value, to help clients make impactful decisions. By leveraging on its
large array of syndicated services and specialist divisions, Kantar IMRB helps
clients in crafting marketing and consumer strategies. Kantar IMRB has created
products and frameworks for global clients using the expertise and knowledge of
emerging markets.
 Kantar IMRB prides itself on developing and setting industry standards and
continued focus on innovation. This ability to blend innovation and analytical
thinking to design custom solutions for its clients has led to strong and rewarding
relationships. Perhaps, this is why its top five clients have been with the company
for over 25 years.
 Kantar IMRB is an eight-time recipient of “Agency of the Year”; Kantar IMRB’s
footprint extends to 49 offices across the world, servicing clients in 67 countries.

The University of Indian Market Research

 1981 - India’s first and only Household Panel
  1986 - India’s first TV Ratings System
 1989 - Created the socio-economic classification
 1996 - India’s first IT and Internet studies iCube and iTOPS
 2005 - Launch of Wallet Monitor
 2007 - Radio Audience Measurement (RAM)
 2010 - Revised SEC system
 2010 - Web Audience Measurement (WAM)

by Unknown Author is licensed

 NIELSEN
under

By connecting clients to audiences, we fuel the media industry with the most accurate
understanding of what people listen to and watch. To discover what audiences love,
we measure across all channels and platforms—from podcasts to streaming TV
to social media. And when companies and advertisers are truly connected to
their audiences, they can see the most important opportunities and accelerate
growth.

 Drshti

 Drshti is a technology enabled Strategic Consulting and Marketing Research firm

headquartered in Mumbai, India, offering our services in India and SE Asia. We
were established in December 1994 and have several awards to our name. We
focus on providing information based strategic perspective, and have a
philosophy of questioning established norms and theory, in our search for
thinking that works. We have assisted various companies in turning around and
in building strong brands.
 What they do ….

 Consumer insights & culture understanding

 Product innovation ,evolution ,user experience
 Human resource & corporate culture
 Brand equity ,positioning & tracking
 Shopper journey
 Communication evolution & testing

 Hansa Research
Hansa Research is the largest Indian consumer insights company undertaking
engagements with clients across 77 countries. We are the first Indian insights and
consulting company to acquire a US-based firm, GCR (formerly called Gartner
Custom Research).
With research offices across India, Singapore and the USA, Hansa Research’s
infrastructure is comparable to the best in the industry. Engaging with clients
across multiple sectors, with an array of packaged and customised offerings,
Hansa Research focuses on innovation and value addition, to help clients make
insightful decisions. Hansa Research has done some path-breaking work which
have become industry standards in India e.g., Indian Readership Survey,
Household Potential Index and Indian Outdoor Survey .With a focus on
innovation, Hansa Research is a pioneer in the use of technology, whether it was
Computer Aided Personal Interviews (CAPI) a decade ago or Virtual Reality based
solutions today. Hansa Research has won numerous industry awards for cutting
edge and actionable research .The R K SWAMY | HANSA companies represent
one of India's leading multidiscipline, multi-location, marketing communications
and services groups, serving the needs of a wide array of companies, in India and
the USA. The Group operates with a simple belief vis-à-vis the field of
Marketing: “WE DON'T NEED A LARGE HAMMER. WE MUST LOOK FOR THE
SHARPER NAIL." Underpinning this belief is the huge premium the Group places
on Intelligence that delivers sharp Creative communications, uncovers the
underlying trends, provides the customer insights, drives advanced analytics and
brings process efficiency and market effectiveness. In sum, ensures that clients
get tremendous value across the board.
 1.5.Problem of Organization

1.5.1 Existing Market Research Methodology

Overwhelming amount of data makes it difficult to separate out from noise. More than 500
websites are being added to the internet space every day. Manually scanning through the data
is cumbersome and tough. Many existing techniques to juggle around add to the challenge of
getting the right data.

1.5.2 Quality

The data being collated manually has a risk of being of poor quality. With volume of data
collated increasing manual errors due to human fatigue can seep in. When the collated data is
of poor quality, the insights into the mined data stands a high risk of being of bad quality as
well.

1.5.3.Research Outcomes (For clients)

The expectations of clients are increasing due to the complex business dynamics. Clients
expect actionable insights from market research companies, which can help them take quick
informed business decisions. Insightful strategic reports delivered within stipulated timelines
is becoming an increasing challenge for market research companies globally.

1.5.4 Differentiate from your competitors

It’s becoming an increasing challenge for a market researcher to demonstrate unique value
and novel contribution in Market Research approaches. The standard market research
methodologies followed by most of market research companies don’t help them stand apart
from the crowd. Staying relevant with changing technology times  is of prime concern now.
With the advent of BIG DATA and analytics, cutting edge techniques should be adopted by
the market research companies to stay ahead of the competition. Also, the need of the hour is
to avoid commodification of the market research projects (which includes reports, surveys
etc.).

1.5.5 Clientele Constraint

With ever increasing competition, the clients need the latest up-to-date insightful information
delivered super-fast. This would help the clients get an edge over their competition and grow
rapidly in the market. The clients often have constraints in terms of the timelines, budget and
scope of work involved.

Solution:
Online Research is an integral part of secondary research. Web data extraction is an essential
component of online research. Automation of web data extraction is becoming increasingly
an inevitable necessity of the near future. Automation of web data extraction can help save
time and effort for the researchers. This has direct impact on increasing the productivity of
researchers and thereby increasing the overall output. Also, manual errors during extraction
can be eliminated largely by automation.

Market researchers can focus more on providing strategic insights from the data extracted,
which would help their clients take business decisions in a better way. Market research
companies can easily differentiate themselves from the competition by providing faster,
accurate and more insightful information to their clients, thereby gaining a major competitive
edge in the market research space. Clients can also expect better insightful market research
analysis, due to the bandwidth of market researcher freed from conducting repetitive
mundane web extraction activities.

To summarize, most of the top challenges faced by market researchers can be addressed and
resolved successfully by automation of online web data extraction activities.
CHAPTE-2
ObjectiveAnd
Research Methodology
2.1:Objective of Survey
Based on these parameters and sub-parameters, objective
questionnaire was fine-tuned after incorporating new elements. B-
schools fulfilling the eligibility criteria were contacted to participate in
the survey through multiple ways: a) sending formal invitation along
with the objective questionnaire, b) putting objective questionnaire on
the websites of Business Today and MDRA to increase awareness, c)
multiple e-mails, telephonic calls to remind the colleges about timely
participation, and d) follow-ups to clarify any doubts related to
participation/questionnaire.
3 During the objective survey, MDRA ensured that all institutes are
fully aware that there is no fee/charge for participation in this
ranking. As an expression of faith in the fairness of ranking
conducted by MDRA, as many as 278 colleges across the country
provided their objective data, significantly higher than last year's
participation of 247 . Out of these 278, only 269 were finally ranked
as three colleges submitted their data after the revised deadline and
three were ineligible. Two institutes provided insufficient data and
one institute withdrew its participation.
5.Regardless of our strict timeline for finalising the ranking, we had
extended the deadline for submission of objective data based on
requests from majority of quality B-schools.
Objective Data: Marks on each sub-parameter were calculated using
the weightages that were suggested by a panel of experts. Thus, marks
for every sub-parameter were arrived at and were then added to get
marks for respective parameters.

2.2 Scope of Study

First important area that is obvious, is the admissions, and application for admissions to the
Institutes from the students’ point of view, and needs. The surveyed B-Schools in the media
offer a list for choices with detailed information for applying right, and going on to be
selected – after the CETs, like CAT, MAT, and even the Institutes’ own entrance exams.  
Even direct in few cases. Fees and affordability and location, along with image (brand) and
course offerings (streams) are some of the major criteria depending on the students’ needs,
are presented for the students to study in the information sourced, surveyed and published in
each of the media.

In the selection, and finally taking of admissions, the surveys and the rankings different
criteria are  reviewed and highlighted for the benefit of the target public, for instance,  ROI of
the institute (student fees and CTC salaries mix), 360 degree development of the personality
and professionalism of students, leadership position of the Institute with faculty and
infrastructural advantages, up-to-date on curriculum, Industry or corporate connections, final
placement in good companies and commensurate salaries (minimum and maximum)  of past
and present students, global orientation if any, and the expected future progress and growth of
the students passing out.

Specifically speaking on the methodology of the research, the concerned medium identifies
and approaches about 400 to 500 B-Schools and Institutes for the survey. But of the number
in reality only about 250 to 300 responds seriously, and out of them about 200 qualify for the
actual survey conducted on the defined parameters of the medium, and offering the benefit
from the ranking and recognition as may be studied by the aspirant readers and stakeholders.
The others, as is obvious, use advertising, promotions, and other media to create awareness
and markets. 
It’s worth mentioning that while the benefits from these surveys and rankings by the media to
a wide range of target students and the participating academic institutes, is of good and
desired  value there are some visible shortcomings and weaknesses as well and may need to
be highlighted here. There are also a number of instances of the B-Schools and Institutions
not participating in the survey process! Or do not qualify in meeting the basic criteria of the
surveyors (media)!

A personal touch in these surveys and studies between the media and the B-Schools is
generally missing. It’s all on the basis of a questionnaire basis. Thus cold facts and figures of
a third party – that is the Marketing Research Company hired to conduct the survey. Only
about one fourth of the final participant list are personally met, verified and scrutinised by the
research agency conducting the survey for the media house! 

The criteria laid down jointly by the research agency, and the media, is hardly revised and
improved regularly over the past. Also one wonders why some of the B-Schools not
participating are not still persuaded to participate? They seem to want to avoid the surveys for
some unknown reasons! This leads to a loss of credibility of the surveys and the media! In the
earlier days as one has known, even the four or five top IMMs avoided the surveys. However,
as of today, they have come back to participate!

All in all, one can say the more you learn, the more you grow, and are better at your business.
The surveys highlight a number of things – from infrastructure, faculty, student placements,
and such elements which are very important for the students, and which are an advantage for
all. This is thus good for both the education sector, and industry recruiting students at
campuses.

There is always scope for more advantages being built into the surveys, and their survey
parameters, in the future. For instance, the B-Schools’ real ability to train and provide
enhanced employability to students, agility in leadership and leadership qualities, and in
today’s context areas like ethics, CSR, and gender equality among the workforce and jobs
with more women joining MBA institutes, and getting to be taking up corporate jobs in a
number of fields! 

Beside the sheer enrolment targets, and their achievement at Institutes with the desired
qualifications sought and available among the students, according to another survey, it was
expressed that there are things that greatly matter at the students end, and which students
must remember for their own benefit when considering the information publishes and
circulated in the surveys and rankings:
 Obtaining a good mix and match with the institute offering the right streams, and it
being preferred brand.
 Its placements record and strength – Industry connect.
  Offering a holistic education – developing required personality and hardcore skills in
students. 
 Not merely because of it being heavily promoted, or because a few friends are
selecting it.

2.3 Significance of study (managerial usefulness)

Listing of B Schools across the country for the Survey
The first module was secondary research. Using various sources like the internet, magazines
and publications, a comprehensive list of B-schools was generated. The following sources
were used for the same –

 List of ranked institutions from previous surveys

 Secondary review of published information across various sources
 Inputs/ suggestions on names obtained during conducting the study

Diligent attempts were made to ensure that a comprehensive list of B-Schools was derived at.
In order to achieve the same, we had the option of adding any new school name in the survey
form if any respondent, during the perceptual survey mentioned any school name outside our
list. Once in effect, this ensured that every B- School had a chance of getting covered in the
survey if their name was mentioned by the respondents.

In totality, a list of 1000 B-Schools along with their contact details was generated. It was
ensured that all schools in the list fulfilled the above-mentioned criteria.

Factual Data Collection

The second module was factual data collection. This was done in order to garner the
perception of the upper management of the B-Schools and their views on the functioning of
the B schools, their infrastructure and the facilities they provided. The following information
areas were delved into –

 Selection Process
 Affiliation/ accreditations / collaboration
 Learning Components
 Curriculum
 Faculty
 Pedagogy
 Future Orientation
 Global exposure
 Industry Interface - Interaction/ live projects/ corporate internship
 Potential to network/ alumni outreach
 Infrastructure and living experience
 Facilities provided
 Extracurricular activities
 Fee structure
 Placements
A dedicated team under the direct supervision of a senior researcher was put on job. Their
tasks entailed sending regular emails and rigorous follow ups in the form of telephonic calls
for timely participation and achieving completeness of information.

Perceptual Survey :
The third module was a perceptual survey which was conducted amongst a selected set of
respondents including faculty and management students. This was done to arrive at a ranking
and rating of all the listed B schools as well as any others that they are aware of. The sample
selection was done using convenience sampling method. However, the sample was spread out
geographically to get better representation. This was done by selecting multiple starting
points spread across the cities.

2.4 Research Methodology – Data Sources, Data Analysis methods :

Research Methodology
The objective of this Study is that while Choosing the B-schools for PGDM and For MBA
specialization we have the consider the some factors are college location, reputation,
quality of students and faculty, job profiles and salary offered in placement, alumni
network, course fees etc. Let us check the parameters to look into while choosing
the right B-school.

2.4.1 : Research Design :

A research design is a step-by-step approach used by a researcher to conduct a scientific

study. It includes various methods and techniques to conduct research so that a research
problem can be handled efficiently.

An impactful research design makes sure the least bias in the data collected and increases
trust in analyzed research information. A research design which leaves the least margin of
errors can be considered the best research design.

Research designs are broadly categorized into two categories:

EXPLORATORY RESEARCH:

An exploratory design is conducted about a research problem when there are few or no earlier
studies to refer to or rely upon to predict an outcome. The focus is on gaining insights and
familiarity for later investigation or undertaken when research problems are in a preliminary
stage of investigation. Exploratory designs are often used to establish an understanding of
how best to proceed in studying an issue or what methodology would effectively apply to
gathering information about the issue.
DESCRIPTIVE RESEARCH:

As the name implies, it is intended to describe the present status of this type of design that
does not require a hypothesis, to begin with. These analyses are generated from existing data.

It is a fact-finding investigation with educate interpretation. It is the simplest type of research.

It is more specific than explanatory study, as it has focused on particular aspect of the
problem studied it is designed to get her descriptive information and provide information for
formulating more sophisticated studies.

CAUSAL RESEARCH:

Causality studies may be thought of as understanding a phenomenon in terms of conditional

statements in the form, “If X, then Y.” This type of research is used to measure what impact a
specific change will have on existing norms and assumptions. Most social scientists seek
causal explanations that reflect tests of hypotheses. Causal effect (nomothetic perspective)
occurs when variation in one phenomenon, an independent variable, leads to or results, on
average, in variation in another phenomenon, the dependent variable

Data collection

Data collection is the process of gathering and measuring data, information or any variables
of interest in a standardized and established manner that enables the collectors to answer or
test hypothesis and evaluate outcomes of the particular collection.

• Primary data is data originated for the first time by the researcher through direct efforts
and experience, specifically for the purpose of addressing his research problem. The data can
be collected through various methods like surveys, observations, physical testing, mailed
questionnaires, questionnaire filled and sent by enumerators, personal interviews, telephonic
interviews, focus groups, case studies, etc.

• Secondary data implies second-hand information which is already collected and recorded
by any person other than the user for a purpose, not relating to the current research problem.
It is the readily available form of data collected from various sources like censuses,
government publications, internal records of the organisation, reports, books, journal articles,
websites and so on.

SAMPLING

Sampling is a process used in statistical analysis in which a predetermined number of

observations are taken from a larger population. The methodology used to sample from a
larger population depends on the type of analysis being performed but may include simple
random sampling or systematic sampling.

SAMPLING TECHNIQUES

Probability:
In this sampling method the probability of each item in the universe to get selected for
research is the same. Hence the sample collected through this method is totally random in
nature. Therefore, it is also known as Random sampling

 Simple Random Sampling

 Systematic Sampling
 Stratified Sampling
 Cluster Sampling
 Area Sampling
 Multi-stage Sampling

Non probability:

In this sampling method the probability of each item in the universe to get selected for
research is not the same. Hence the sample collected through method is not random in
nature. Therefore, it is known as Non-random sampling.

 Judgment sampling
 Convenience sampling
 Quota sampling
 Panel sampling
 Snowball sampling

Descriptive Study was carried out during this study.

Primary data was collected through a questionnaire, addressed to social media users
available

(family and friends). The questionnaire was distributed through an online link.

Secondary data was collected through published articles and reports, books,
information collected through websites, internal company records.

Sampling technique used is Convenience Sampling

Sample unit: A sampling unit is the building block of a data set; an individual
member of the population, a cluster of members, or some other predefined unit. It must
be concretely defined as part of the groundwork for any statistical research or study.

In this Research, sample unit of A school of b-school survey.

Sample size:

Survey was conducted among 45 people .

Responses received: 45
Chapter – 3
Conceptual
Discussion
General Theory about the topic and that particular
firm
Desk Review and Expert Opinion: An extensive desk review of MDRA's
database and secondary research was conducted to select B-schools. To be
ranked, B-schools had to qualify the following criteria:
Offering two-year full-time management courses

Established at least five years ago with at least three batches having passed out
till academic year ending in 2015

A list of over 1,750 plus B-schools fulfilling the above criteria with their contact
details was prepared. Also, a separate list of B-schools offering one-year full-
time Executive MBA/PGP programme was updated, for a separate perception
ranking.

Determination of Weight-ages: Weightage for each parameter has been kept

the same as last year for the sake of consistency and comparability.

Objective Survey: Based on these parameters and sub-parameters, objective

questionnaire was fine-tuned after incorporating new elements. B-schools
fulfilling the eligibility criteria were contacted to participate in the survey through
multiple ways: a) sending formal invitation along with the objective
questionnaire, b) putting objective questionnaire on the websites of Business
Today and MDRA to increase awareness, c) multiple e-mails, telephonic calls to
remind the colleges about timely participation, and d) follow-ups to clarify any
doubts related to participation/questionnaire.
During the objective survey, MDRA ensured that all institutes are fully aware that
there is no fee/charge for participation in this ranking. As an expression of faith
in the fairness of ranking conducted by MDRA, as many as 278 colleges across
the country provided their objective data, significantly higher than last year's
participation of 247. Out of these 278, only 269 were finally ranked as three
colleges submitted their data after the revised deadline and three were
ineligible. Two institutes provided insufficient data and one institute withdrew its
participation.
Regardless of our strict timeline for finalising the ranking, we had extended the
deadline for submission of objective data based on requests from majority of
quality B-schools.

Back-check of the Objective Data: After receipt of the objective data from

institutes, cross-checking of the information provided by participating institutes
was done very carefully through available information and validation (past data,
mandatory disclosure, telephonic check, confirmation through e-mails, website
visits, etc.). Institutes which had submitted insufficient/incorrect data, were
contacted to provide complete and correct information.

Experience-based Perceptual Survey: This module involved administering of

questionnaire to a wide variety of respondents who know the B-schools from
their experience, namely:

 MBA students (in their final year)

 Deans/directors
 Recruiters/industry professionals
 Alumni
A total of 1,451 respondents provided their opinion on top B-schools in 20 cities
across all four zones of India. The respondents comprised 360 final year
MBA/PGDM students, 89 deans/ directors, 674 alumni and 328 recruiters with
rich experience. The following zones and cities were covered in the perceptual
survey:
 

North: Delhi-NCR, Jaipur, Chandigarh, Ludhiana and Lucknow

West: Mumbai, Pune, Indore, Nagpur and Ahmedabad
South: Chennai, Bangalore, Kochi, Coimbatore and Hyderabad
East: Ranchi, Kolkata, Guwahati, Raipur and Bhubaneshwar

In addition, participants from Goa, Mangalore, Tiruchirappalli, Mysore,

Coimbatore, Puducherry, Hubli, Tirupur, Vishakhapatnam, Madurai, Gwalior,
Jalandhar, Patiala, etc., also participated in the survey. See Perceptual Ranking -
Weightages for weightages of various components of the perceptual ranking. To
ensure the maximum coverage of B-schools across states and zones, national
ranking and zonal rankings were taken and the result was clubbed in the ratio of
75:25.

Experiential Survey: The big differentiator between BT's B-school ranking and

others in the market is the experiential survey. A unique concept, BT and MDRA
created this element of the survey to gauge what alumni felt about their B-
school education's contribution to their careers. In order to have relevance of
the B-school contribution to the career, alumni who graduated maximum five
years and minimum two years ago were interviewed.
B-School Physical Audits (verification): Intense measures were taken during
verifying and validating the objective data provided by the colleges. To
authenticate any suspicious data, experienced researchers at MDRA carefully
examined each and every aspect of the details provided by B-schools. To further
verify authenticity of the data submitted, MDRA researchers visited 61 B-schools
across the country. Over the past three years, MDRA's research team has visited
214 campuses to verify various data/ information provided by participating
institutes. The responses on important questions in the questionnaire have
been checked carefully. The data from the audits was then corroborated with
the original documents. The irregularities that were brought to the notice during
the physical audits were removed/ corrected in the final objective data.

{mosimage}Assignment of Ranking: Like last year, MDRA has collected and

evaluated B-schools on the basis of current year data to give stakeholders more
realistic, updated and accurate information about B-schools. The rankings were
assigned based on combined scores of perceptual survey, objective data and
experiential survey.
Objective Data: Marks on each sub-parameter were calculated using the
weightages that were suggested by a panel of experts. Thus, marks for every
sub-parameter were arrived at and were then added to get marks for respective
parameters.
Perceptual Survey: Students, deans/directors, alumni and recruiters from the
industry were identified as the primary stakeholders for the perceptual survey.
The perceptual scores assigned by recruiters, alumni, deans/directors and the
final year students carried weights of 35 per cent, 25 per cent, 20 per cent and
20 per cent, respectively. In addition, national and zonal ranking were given 75
per cent and 25 per cent weightages.
Experiential Survey: The marks on each sub-parameter were calculated using
the same weightages as in the objective survey. This experiential data was
collected from alumni from colleges that submitted their objective data. To avoid
any prejudice, final experiential score were adjusted on the basis of colleges'
combined objective and perceptual score.
Arriving at Combined Total Score: The total scores arrived from objective data,
perception survey and experiential survey were added in the ratio of 50 per cent,
40 per cent and 10 per cent respectively to arrive at the final score. Thus,
objective data contributed 1000 marks, the perceptual survey contributed 800
marks and the experiential survey contributed 200 marks to the total combined
maximum score of 2000 marks.
The total combined score obtained by each institute was arranged in descending
order and the college scoring the highest marks was allotted first rank and so
on.

The ranking of B-schools offering one-year Executive MBA/PGP programs was

based only on the perceptual data received from 328 recruiters/industry
professionals and 89 deans / directors of the colleges. Only colleges offering 11-
15 months Executive MBA/PGP programs were considered for the ranking.

Review of Literature is the review of the past researches which have been conducted in same
field. The review is done in order to have an idea about the extent of research work done in
particular field and to have a glance about the results of the previous researches. This helps in
selecting the tentative objectives for further study. In my study the following research papers
by various researchers from various journals have been referred:

Levitt (2009) studied marketing success through differentiation and suggested that to make a
product or a service unique, certain elements must be added to differentiate it from the
products or a service of a competitor. This influences to choose your product or a service
over the others.

Nargundkar et al (2009) they studied on the conceptual model of branding of B Schools from
an Indian Perspective. The proposed conceptual model is stage one in the process of
understanding what goes into building a B-school brand. Stage two tests the proposed
conceptual model of brand-building. The proposed model is holistic, considering the role of
important stakeholders such as students, faculty and corporate. This conceptual model will
help B-school management to understand the role and importance of branding B-schools. It
will provide an insight into the various parameters on which a B-school brand has to be built.

AIMA Survey (2008) The ratings have been conducted with the help of IMRB International,
a leading Research Agency in India, and published in AIMA’s Indian Management in
Association with Business Standard. The number of Business schools participated were 270.
All participating institutes are rated into three categories - A, B and C. No ranks are given in
the survey. The B-Schools are divided into broad bands with the top 10-15 B-Schools given a
special mention as "Super League". The parameter chosen for rating were:-Intellectual
Capital, Admission and procedure, Infrastructure, Industry interface and Governance. The
nine colleges which were rated under SL were FMS , IIFT, IIM Ahemdabad, IIM Lucknow,
IMT Ghaziabad, MDI Gurgaon, NITIE Mumbai and Xavier Labor Institute Jamshedpur
Business India survey (2008)-This survey took a set of four parameters for rating B- Schools
these were learning ambience (175 points out of total 1000 points), Intellectual capital (430
points), Brand (315 points) and growth (80 points). The maximum weightage was given to
Intellectual capital and brand. Intellectual capital included factors like curriculum (100),
faculty (180 points) and academics (150 points). Brand included factors like Alumni (35 pts),
placements (150 pts) and students (130 pts).The top ten B- Schools were IIM Ahmedabad,
IIM Bangalore, ISB Hyderabad, IIM Calcutta, XLRI Jamshedpur, IIM Lucknow, IBS
Hyderabad, MDI Gurgaon, IMT Ghaziabad, S P Jain Mumbai

Business Today Nielsen Survey (2008) conducted face-to-face interviews with five different
categories of stakeholders, comprising MBA Wannabes, Recruiters, Current MBAs,
Functional Heads and Young Executives. This year, the survey polled 547 stakeholders
across 12 cities—Delhi, Mumbai, Chennai, Kolkata, Lucknow, Delhi NCR (Noida, Gurgaon,
and Ghaziabad), Ahmed-abad, Pune, Indore, Bangalore, Hyderabad and Coimbatore—in
more or less the same proportion. Patna, which has historically been a research location, was
replaced by Delhi NCR to better capture stakeholder Not surprisingly, MBA Wannabes
considered placements as the most important factor (similar as last year), while recruiters
looked at admissions eligibility as the most important factor (versus infrastructure last year
perceptions. The survey, which employs the Nielsen Company’s proprietary Winning Brands
model to arrive at a Brand Equity score for each of the 30 B-schools featured in the cover
package, was conducted in two phases. Compared to our 2007 survey, there are certain
changes to what stakeholders considered important this year. For instance, 44 per cent of
those polled last year had said reputation was the most important factor, but this year
reputation is down to 21 per cent; instead, admissions eligibility has emerged as the most
important factor (26 per cent).

CSR-GHRDC B-School Survey (2008) in this survey also IIM Ahmadabad maintains its
supremacy.the parameters chosen for ranking were Infrastructure (Academic and
Physical),faculty research,consultancy,Mdp and other programs, Admission , Curriculum and
delivery system, Placement (National and International), USP, Social responsibility,
Networking and industry interface. The overall total points were 1400, and maximum weight
of 500 points was given to Placements, USP and

social Responsibility. The categories by which the B schools were classified as :- schools of
Super Excellence > = 60 % Score ,Schools of Excellence 50% = > < 60% Score ,Promising
Schools of Excellence 35% = > < 50% Score ,Schools Doing Very Well 25% = > < 35%
Score, Potential & Doing Well < 25% Score.

Chaturvedi (2007) in this article has discussed about the reliability of B school rating. He tells
how ratings have gained importance overtime. As the number of b- schools goes up, so does
the confusion for the average MBA aspirant .The students, therefore, are becoming more
discerning as the time passes by. They seek ‘more and better’ information on b-schools in
order to short-list their choice of destination. Almost all b-schools have information on their
websites but it is at times, not considered reliable. The approach & methodology used by
various rating agencies have been different .Each rating agency has also been modifying the
methodology, by making suitable amendments, in every subsequent rounds. Broadly
speaking there have been three distinct approaches in B-school ratings. These are (a) Ratings
based on hard facts/objective data obtained from b-schools, (b) Perception survey among
different groups of stakeholders, and (c) a combination of the two. It is natural that the
ultimate output i.e. the ratings will be different if the methodology adopted is not the same.

C fore Outlook (2007), B-schools were segmented into four broad categories viz Government
/ public sector funded autonomous institutes, Private, Sectoral and University departments.
The B-Schools that offered one year programme like Indian School of Business (ISB) and
Great Lakes in Chennai were not included in the survey. In all 216 B-schools participated in
the survey. The validation exercise was carried by a special team which cross-checked the
data by asking for necessary documents like appointment letters, balance sheets, annual
report etc.Rating was done on the basis of six parameters like placements,International
Linkages,Industry interface, Intellectual Capital , Infrastructure and Recruiters satisfaction

Erdem (2007) was found in his study that consumer preference for brand attributes were
modeled to depend on the attributes of brands bought on the previous purchase occasion. The
results indicated that the average consumer was habit persistent in all the product categories
studied. The proposed models were estimated on Nielsen scanner panel data for margarine,
peanut butter etc.

Business India (2007) They had contacted around 1,400 B-schools from their database at
least five times during the entire survey period, which started in May this year.They used the
survey website www.bibschoolsurvey.com extensively to feature the questionnaire and also
contact institutes. The results of the survey was classified into two categories, schools that
were to be ranked numbering the first 20 and the rest of the schools that was

to be rated on in nine grades – A++, A+ A, B++, B+, B,C++,C+,C, presented in alphabetical

order.The Parameters used were :- Background information 50 Academic programmes 150
Faculty details 180 Student profile 130 Infrastructure 100 Placements 150 Curriculum and
pedagogy 55 Income & expenditure 50 Alumni 15 Intellectual interface 70 MDP activity 50
which together makes the Total 1,000.the top 10 bschools were IIM A(799pts), IIM B (763),
IIM C(748), ISB(747) ,IIM L (707), XLRI (667),MDI(665),IBS(621), SPJMR(605), and
MT(555)

Cosmode –BW (2007) survey took the following parameters for bschool rating: living
experience,learning experience,placements,return on investment and industrial exposure.the
maximum weightage was given to learning experience (300 points in total score of 1000)The
IIM Ahemdabad ranked first in top 100 bschools,then IIM Kolkatta and third rank was
begged by Xavier labour institute.IIM Ahemdabad scored 794 points out of 1000,IIM
Kolkata scored 748 points and Xavier labour institute scored 743.5 points.In this year survey
many of the Beyond schools rank shown a fall.for eg.Management Development Institute was
at rank 1 in yr 2005 but in this survey it was at Rank 5 by scoring 733 points out of total 1000
points.

Bose (2006) this article is written on the background of the reputed brand valuation agency
ACNielsen’s qualitative assessment to find out the top ranking B-Schools of India in the year
2005. The study used ACNielsen’s proprietary brand equity measurement tool, ‘Winning
Brands’. Many changes are observed in the rankings of the Indian B-Schools in the light of
the earlier studies of 2004 by leading magazinesviz., Financial Times, Business Today,
Business Week (Asian Edition) and Business World. The MBA wannabes, current students of
these Business Schools, HR and Functional Heads of various companies, etc. were included
in the survey. The survey considered parameters like reputation, success and quality of
placement, teaching methods, infrastructure, faculty, etc. The article contains a number of
tables that highlight the Survey parameters, the Top 10 B-Schools (2005), Comparative
rankings of Top 15 B-Schools (2004), Factors contributing to brand equity, Comparative
rankings of Top 15 Global B-Schools (2004) which are very informative to the reader. In
conclusion, the author feels that it is the perceptions of the sample which mark the results.
The ranking agencies (both international and domestic) have used varying criteria for their
studies. As the studies were all based on the perceptions of the respondents, Business Schools
should concentrate on improving the qualitative parameters used by these surveys.

Literature Review :

Business India (2006) survey methodology included parameters Brand Value (200 pts out of
total 1000 pts), Intellectual Capital (given a maximum weight of 400 pts), Learning
Ambience (250 pts) and Growth (150 points).In this survey the top 10 business schools
selected were IIM Ahemdabad (828 pts), IIM Banglore (817 pts), IIM Calcutta (805 pts),
MDI Gurgaon (783 pts), IIM Lucknow (772 pts) and then ISB Hyderabad (0755), XLRI
Jamshedpur (741 pts), SP Jain Mumbai (718 pts), ICFAI Hyderabad (715 pts) and IMT (708
pts)

Cfore Outlook (2006) survey used the same methodology which means it took the same
parameters for rating of Business schools.The maximum weightage was given to placements
(21%) and Intellectual capital(23%).The marks were allotted to a B- school against a
particular sub parameter by normalizing against the topper for that parameter. The
satisfaction survey of recruiters was conducted online at site indiabschools.com. 685 of them
participated and 12% weightage was given to it.The top three business schools included
names like IIM Ahemdabad,IIM Bangalore and IIM Calcutta.

Jain (2005), the study argues that the use of case studies in management education in now
universal and ubiquitous. So much so, this pedagogy is now taken for granted by the B-
Schools. With ready availability of instructor accessories such as test-banks, case teaching
notes, and slides, instructors often miss out on the philosophical and scientific foundations of
this important teaching pedagogy. This paper highlights the second-curve in the lift of a
typical MBA student and the process of him/her becoming a T-Shaped knowledge-owner and
a problem-solver. It deals with the foundational, philosophical and scientific bases of case
pedagogy.

Narayan (2005), records that the MBA of tomorrow, will be radically different. Many of the
top schools faculty and administration are inculcating a new urgency in rewiring the campus.
Today Indian corporate prefers their prized managed graduates to be just managers and not
leaders. What the country certainly needs are more technocrats, social scientists and liberal
art lovers. The suggestion of this problem is humanize management education to give spirit
of the management world. We have failed in humanizing the curriculum, where we have to
lay a greater emphasis on soft skills and not on pure math’s.

Business India (2005) under this ranking was done with main focus on number of students
enrolled and average salaray package offered to students.The top 10 business schools were
IIM Ahemdabad, IIM Banglore,IIM Calcutta, IIM Lucknow, MDI Gurgaon, XLRI
Jamshedpur, ISB Hyderabad, SP jain Mumbai and Jamnalal Bajaj Mumbai.
Cosmode-BW (2005) survey of top business schools. The rankings were based on five
parameters: living Experience, learning experience, placements, return on investment and
international exposure. But in this survey many of the IIM’s didn’t participate as well as other
b schools also not participated. the b schools which not participated ,were IIM
(Ahemdabad),IIM(Kolkata),IIM(Kozhikode), IIM(Indore), FMS(Delhi),Narsee
monjee(Mumbai) and symbiosis (Pune).The first five top Beyond schools among top 100 b
schools were Management development institute (Gurgaon), Xavier labour institute
(Jamshedpur), Indian institute of foreign trade (Delhi), National institute of Industrial
engineering (Mumbai) and SP Jain Institute of Management (Mumbai). Ubiquitous

Buckley & Finian (2004) they did an international study for evaluating the effectiveness of
management education. The research seek to establish the impact of management education
on individual and organizational outcomes in Ireland. This report outlines the development of
the Management Education Effectiveness Questionnaire. The three-stage research plan
involves data collection as students begin their program of studies, again when they complete
their education and again six months after completion of the program.

Business India (2004) the parameters chosen for this year survey was Number of cases
developed, Revenue Generated, Fees income, MDP income. The top ten business schools
were IIM Ahemdabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, XLRI, FMS, ISB,, SP
jain and ICFAI Hyderabad. ICFAI didn’t participated in previous surveys conducted by
business India but in this year it participated and it had maximum cases developed the no of
cases developed was 678.

C Fore Outlook (2004) was also sent to 950 B-schools to participate. In all 236 of them
responded. The Parameters chosen for this year survey was same as the previous year and
same weights were assigned to them.The top ten business school in this year survey was IIM
Ahemdabad,IIM banglore,IIM Calcutta,IIM lucknow , MDI, FMS,XLRI, NITIE,SP Jain,
IIFT and Narsee Monjee.

Pandey (2004) wrote a paper based on the reflections on issues of autonomy, accountability
and governance in higher educational institutions. Autonomy is the unrestrained freedom of
action within the established norms of an institution. No institution can have effective
institutional and academic autonomy without financial autonomy. Autonomy means
accountability. All institutions, including those of higher education, are accountable to its
stakeholders in particular and society in general. The institutions should strive to strike a
balance between stakeholders’ needs, societal demands, and institutional autonomy.
Governance includes both internal as well as external factors that affect the functioning of the
decision-makers and make an impact on their performance. The author argues that the issues
of autonomy and accountability are, infact, related to the governance of HEIs.

Business India (2003) In this year survey IIM Calcutta, FMS Mumbai and ISB didn’t
participate.And the parameters for rating was taken selection mode,no of students
enrolled,cases developed,Revenue generated.The top business schools were IIM
Ahemdabad , IIM lucknow, IIM Banglore, MDI Gurgaon, XLRI,SP Jain,NMIMS Mumbai.
The rating was done by providing grades A+, A, B, B+ and C,C+

Cosmode-BW (2003) survey of top business schools in IndiaThe survey has been billed as a
data survey that has used an ordinal scale to arrive at relative rankings. The rankings were
based on scores across nine key parameters: placement (that had the maximum weightage of
300 points in a total score of 1,000), faculty (200 points),

academic facilities, industry interface and networking and innovation (100 points each),
programme delivery (75 points), programmes and admissions (50 points each) and academic
expenditure (25 points). FSM has scored 159.21 points on placement, 87.33 points on faculty,
48.58 points on academic facilities, 78.14 points on industry interface, 48.67 points on
networking and innovation, 70 points on programme delivery, 20 points on programmes,
28.14 points on admissions and 19.37 points on academic expenditure. THE IIMs (Indian
Institute of Management) at Ahmedabad, Bangalore, Kolkata and Lucknow have secured the
top rankings in the Top-100 list of a nationwide surveyThe survey conducted among 294
business schools from across the country, which volunteered to take part in the survey.

C Fore Outlook (2003) conducted the survey the methodology and parameters for evaluation
were reviewed by a committee consisting of representatives from industry and academia
which was headed by managing editor of Outlook Sandipan Deb. Two new parameters were
added namely International linkages and extracurricular activities and also only those
institutes/branches were considered from where at least one batch has graduated. The B-
schools were ranked based on objective data and the satisfaction scores of key stakeholders
i.e. industry, students and faculty. The survey was open to all B-schools in India at site
www.indiabschools.com where a questionnaire designed for the survey could be down
loaded. Invitation was also sent to 769 B-schools to participate. In all 226 of them responded.
This year again 65 B- schools had to be dropped from the survey, for fudging data during
validation. The parameters chosen for rating Business schools were placements (24%),
Intellectual Capital (16%),Industry Interface (14%),Infrastructure and Facilities
(12%),Perception Score (20%),Extracurricular activities (5%) and international linkages
(9%).The top ten Business schools were IIM Ahmadabad, IIM Bangalore, IIM Calcutta, IIM
Lucknow, XLRI Jamshedpur,NITIE,FMS Delhi,IIFT,SP Jain and IIM Kozhikode.

Pfeiffer & Fong (2002) argued that with the commercialization of education the quality of
education has declined. The institutes which are running management education pretend as if
they are more concerned with the quality delivery of education, but actually it is not and the
institute focus remains on filling of the seat only. Also, the faculty is not taken care by the
management institutions in terms of regular pay scales and work environment which
ultimately affects the performance and desired output of any B-School.

Chowdhary & Bhattacharjee (2002) wrote that purely western model of management
education based on globalization, core competency and free market economy that is being
widely followed in this country will lead to ecological and social disasters. While we cannot
do without the technique oriented western model of developing the efficient organization, we
should not ignore the impact of such a model on environment degradation and misdistribution
of wealth in a highly populous country like India.

Business India (2002) The Parameters chosen for rating of business schools was Number of
cases developed, Revenue Generated, Fees income and MDI income. It was the third survey
done by it and many of the Business schools didn’t participated. The top ranks were taken by
the IIM’s like IIM Ahemdabad, IIM Lucknow, IIM Calcutta, IIM Banglore, MDI, XLRI, and
SP Jain.
Cosmode-BT rating (2002) dropped perception component as earlier it was taken in their
previous methodology and entire rating was now based on hard facts only. In this round new
information such as industry interface and networking were added and relatively higher
weight was assigned to placement and pedagogy. To pedagogy weight assigned was of
130.And 100 weight was assigned to faculty curriculum and intellectual capital.

Pfeffer & Fong (2002) argued that with the commercialization of education the quality of
education has declined. The institutes which are running management education, pretend as if
they are more concerned with the quality delivery of education, but actually it is not and the
institute’ focus remains on filling of the seats only. Also, the faculty is not taken care by the
management institutes in terms of regular pay scales and work environment which ultimately
affects the performance and desired output of any B-School.

Business India (2001) The very first Business India survey of B-schools teamed with AIMA
attracted an overwhelming response from the country’s B-school campuses, making it the
largest-ever such exercise done in the country. The survey established that the faculty
shortage is sever and the gap between the best and the rest is wide and growing. The policy
lacunae are plenty and so is the apathy of the institutions in finding mutual solutions to
pressing problems. Managing is a serious gap in the management education community.370
Business schools participated in the survey and 310 were used for survey the main parameter
of ranking was faculty student ratio, Qualification of faculty , Intellectual Capital and average
salary package.The 277 business schools were divided into six categories A+,A,B+,B and
C+,C. In 54 per cent of the institutes surveyed, there were less than seven faculties, while the
AICTE norm is itself a minimum of seven permanent faculties. Most institutes claim that
they get by with high quality visiting faculty who are on permanent call. Visiting faculty
charge Rs500 to Rs1,000 per hour for the best. For the others, it could be as low as 160 per
hour.

Kaw (2001) suggested that the management institutions should teach the students how to
manage material objects like wealth, property, investments, business and to some extent,
human being treating them as another material object which is called a resource or a factor of
production. Secondly, the goal of life is not to earn as much money as we can, in any way we
can. The goal of life is to move up the evolutionary ladder so that we become better and
better human being. Thirdly there should be fine balance between money and prestige, work
and leisure, office and family, rest and running around, selfish interest and social interest.
Lastly, there should be sense of loyalty to the Indian way of lift, The Indian style of thinking,
India as nation-India’s cultural heritage, our food, our clothes and our national interest.

Minitzberg & Lample (2001), study puts across a billion dollar question that not necessary
that MBAs can be best CEOs. As per the study, management institute play great role in
shaping the apprehension that MBA is an excellent degree to start with an excellent carrier.
The factors with influence this apprehension are: Quality of B- School, Mind setting of the
students, Need of the students, Channelsing Methods, Futuristic approach, development of
Career initiatives etc.

Paton(2001) under his study he found that MBA programmes, especially those not provided
by the recognised premier league business schools, are often criticised as being “all things to
all men”. They are essentially product driven and “sold” to the potential client. When
organisations think about developing people to fulfil organisational goals and roles, there is a
tendency to assume that MBAs offer personal
development, not necessarily business or organisational benefits. This article examines the
MBA supplier buyer divide from a business and people development perspective. The
“product” driven approach, as it relates to the needs of the client, be they corporate or
individual, is examined. An alternative business focused model is suggested. A practical case
is provided to illustrate design, partnership and implementation issues.

Cosmode-BT rating (2000), the ratio in favour of hard facts/data was 7:3. Out of 1000
points , a total of 700 points were allocated to the factual information, which included new
parameters like governance, evaluation system and placements. The perception survey was
conducted among corporate recruiters, students, teachers and alumni. These perceptions were
supplemented by hard information on facilities, course content, and placement ratios to arrive
at the final rankings. Highest weightage was given to academic infrastructure(150) and then
the physical infrastructure (100).

Rao (2000) Management Education must develop in the students’ skill that would enable
them to take the decisions on the basis of limited information in situations marked by
uncertainties, relate their studies to the need of society and seek to inculcate value-based
learning and ethics by laying conceptual foundations that could be applied in any situation.
They must be applicable to any situation in which someone takes decisions that will help to
achieve the objectives of the organization.

Crummer & Schatz (1993) they tried to find the accuracy of B schools rating. Crummer used
a measurement of the frequency with which the faculty published in academic journals as his
basis to rank the schools, and questioned business school faculty about which schools they
thought were best, and MBA Magazine had the deans of the business schools vote on the best
programs. Although those who were knowledgeable about business schools at the time were
skeptical of the procedure, the results were not generally available to the public and,
therefore, made little difference to the schools. In recent years, however, ranking of all
colleges has become popular with the press, and has been highly publicized.

After going through the various above mentioned research papers and journals related to the
studies conducted in the field of management education system, opinion of the interest groups
for example students, faculty and HR executives regarding existing management education
system is not studied comprehensively. The environment today is dynamic and continually
changes are taking place, therefore in the current study, a dent has been made to study the
view point of teachers, students and the HR executive who recruit students for the B- Schools
to understand the existing management education system, its functioning eventually find
some areas of improvement to cope up with the ever changing needs and requirements of the
corporate world.
CHAPTER – 4 DATA
ANALYSIS
Q.1 Preferred Location when choosing a B- schools ?

Options Number of Respondent Percentage

Within the city 29 64.4 %
Outside the city 15 35.6%
Border of the city 0 0%

Interpretation :

From the above Pie chart and table it has been that out of the total 64.4% want college within
the city and remaining 35.6% are want the college from outside the city.
Q.2 : On the Scale 1 to 5 how much placement Matters ?

On a scale of 1to Number of Respondent Percentage

5
1 1 2.2%
2 0 0%
3 4 8.9%
4 14 31.1%
5 26 57.8%

Interpretation :
On the scale of 1-5 ,only one respondent said that the placement doesn’t matter and 0% gave
it 2 out of 5 while 8.9% gave it 3 marks out of 5. The highest score was for four and five
marks out of five which was 31.1% and 57.8% respectively.
Q.2 : On the Scale of 1 to 5 how much Infrastructure/Campus matters ?

On a scale of 1to Number of Respondent Percentage

5
1 1 2.2%
2 2 4.4 %
3 9 20%
4 18 40%
5 15 33.3%

Interpretation :
On the scale of 1 to 5 , the one respondent says that
On a scale of 1to Number of Respondent Percentage
5
1 1 2.2%
2 1 2.2 %
3 7 15.6%
4 13 28.9%
5 23 51.1%
On a scale of 1to Number of Respondent Percentage
5
1 2 4.4%
2 0 0%
3 4 8.9%
4 18 15.6%
5 32 71.1%
On a scale of 1to Number of Respondent Percentage
5
1 0 0%
2 1 2.2 %
3 11 24.4%
4 11 24.4%
5 22 48.9%
On a scale of 1to Number of Respondent Percentage
5
1 3 6.7%
2 3 6.7%
3 7 15.6%
4 18 40%
5 14 31.1%
On a scale of 1to Number of Respondent Percentage
5
1 1 2.2%
2 0 0%
3 6 13.3%
4 13 28.9%
5 25 55.6%
On a scale of 1to Number of Respondent Percentage
5
1 0 0%
2 3 6.7 %
3 12 26.7%
4 13 28.9%
5 17 37.8%
On a scale of 1to Number of Respondent Percentage
5
1 0 0%
2 3 6.7 %
3 3 6.7%
4 13 28.9%
5 26 57.8%
On a scale of 1to Number of Respondent Percentage
5
1 2.2%
1
2 0 0%
3 2 4.4%
4 14 31.1%
5 28 62.2%
On a scale of 1to Number of Respondent Percentage
5
1 0 0%
2 4 8.9 %
3 4 8.9%
4 18 40%
5 19 42.2%
CHAPTER – 5
FINDING AND
CONCLUSION
5.1 Findings :
In order to get robust data, the study was completed in the following phases –
 The first module was secondary research. Using various sources like the internet,
magazines and publications, a comprehensive list of B-schools was generated. The
following sources were used for the same –

 List of ranked institutions from previous surveys

 Secondary review of published information across various sources
 Inputs/ suggestions on names obtained during conducting the study

Diligent attempts were made to ensure that a comprehensive list of B-Schools was derived at.
In order to achieve the same, we had the option of adding any new school name in the survey
form if any respondent, during the perceptual survey mentioned any school name outside our
list. Once in effect, this ensured that every B- School had a chance of getting covered in the
survey if their name was mentioned by the respondents.

In totality, a list of 1000 B-Schools along with their contact details was generated. It was
ensured that all schools in the list fulfilled the above-mentioned criteria.

 The second module was factual data collection. This was done in order to garner the
perception of the upper management of the B-Schools and their views on the
functioning of the B schools, their infrastructure and the facilities they provided. The
following information areas were delved into –

 Selection Process
 Affiliation/ accreditations / collaboration
 Learning Components
 Curriculum
 Faculty
 Pedagogy
 Future Orientation
 Global exposure
 Industry Interface - Interaction/ live projects/ corporate internship
 Potential to network/ alumni outreach
 Infrastructure and living experience
 Facilities provided
 Extracurricular activities
 Fee structure
 Placements

A dedicated team under the direct supervision of a senior researcher was put on job. Their
tasks entailed sending regular emails and rigorous follow ups in the form of telephonic calls
for timely participation and achieving completeness of information.
The third module was a perceptual survey which was conducted amongst a selected set of
respondents including faculty and management students. This was done to arrive at a ranking
and rating of all the listed B schools as well as any others that they are aware of. The sample
selection was done using convenience sampling method. However, the sample was spread out
geographically to get better representation. This was done by selecting multiple starting
points spread across the cities.

ANALYSIS OF FINDINGS
The findings from the 3 modules were combined to get a ranking of the most prominent B
schools functioning across the country. Equal weightage was given to factual and perceptual
scores. The final ranking was given basis a combination of both theses scores.

The following steps were followed to reach to the same –

Calculation of Perceptual Score

The perceptual scores were derived in stages by following the below mentioned methodology
-

 Ratings on various parameters for each B- School

 Calculating importance of various parameters to arrive at weights for each
parameter – regression model was used to arrive at the importance of various
parameters
 Calculation of raw scores and weighted scores for each parameter
 Calculation of overall score for each B- School using importance weightage

Calculation of Factual Score

The factual scores were derived in stages by following the below mentioned methodology -

 Collecting information corresponding to similar parameters as in the perceptual

survey
 Developing a detailed scoring system for each parameter
 Post assigning scores to each parameter, calculating the raw scores
 Measuring raw scores by their importance to arrive at weighted scores

The final score for a B- School was weighted average of Perception Score and Factual Score -
equal weightage given to both.

Post assigning ranks, a list of top 117 B schools was given at an overall level and zone wise
and the list of institutes who have not shared factual questionnaire.
5.2: Conclusion
In the today time MBA or PGDM
CHAPTER – 6
RECOMMENDATIONS
 CHAPTER 7
BIBLOGRAPHY
https://timesbschoolsurvey.org/mba/research-methodology.html
https://www.businesstoday.in/magazine/cover-story/story/india-best-b-schools-2015-
methodology-56542-2015-11-10
http://bweducation.businessworld.in/article/Benefits-of-B-School-Surveys-and-Ranking-/30-
01-2019-166603/
https://www.questionpro.com/blog/research-design/
https://www.topmba.com/admissions/key-factors-consider-when-choosing-mba-program
https://www.scribbr.com/dissertation/methodology/#:~:text=The%20methodology
%20section%20should%20clearly,central%20purpose%20of%20your
https://www.mbacrystalball.com/blog/2019/07/22/researching-business-school-mba-
programs/
 ANNEXURE -1

1.Email
On the parameter of 1 to 5
2.Name 1.Insignificant
2. A little significance
3.Some significance
3.Preferred location for B-school 4.Significant factor
 Within the city 5.Most important factor
 Outside the city
 Border of the city

4. On the Scale of 1 to 5 how much Infrastructure/Campus matters?

5. On the Scale of 1 to 5 how much fees Structure Matters?

6. On the scale of 1 to 5 how Faculty experience matters?
7. On the scale of 1 to 5 how much curricular Activity Conduct by the College matters?
8. On the scale of 1 to 5 Collaboration With Foreign Institute Matters?
9. On the scale of 1 to 5 Industry links matters?
10. On the scale of 1 to 5 Specialization matters?
11. On the Scale of 1 to 5 Class diversity like Gender and graduation Specialization matters?