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By Prof.
Dr.Khawaja Amjad Saeed
Jul 31 - Aug 06, 2000
This piece reviews top business schools of US and Canada.
Relating to US, the following aspects have been reviewed:
A. Top US Business Schools
B. Methodology used for developing ranking
C. Entry into top US Business Schools
D. New trends in Top Business Schools
E. Specialties: US Scene
Later a review of Canadian Business Schools has been carried out.
However, this relates to under graduate programs.
Us business schools
A: TOP US BUSINESS SCHOOLS
In the latest US News and World Report, April 10, 2000, 49 best and top
US Business Schools have been ranked. Table No. 1 has been prepared to show top ten US
Business Schools.
B: METHODOLOGY FOR DEVELOPING RANKING
The following points are worth noting regarding overall ranking of
business schools in USA:
1. The overall rankings for USA 325 accredited MBA
Programs were based on a weighted average of the eight measure of academic quality.
2. The specialty rankings are based solely on reputation.
3. Break up of factors used in ranking include the
following:
Factor
i) Reputation
40
ii) Placement Success 35
iii) Student Selectivity 25
100
Details are available on Page 70 of US News and World Reports (April
10, 2000).
C: ENTRY INTO TOP US BUSINESS SCHOOLS
Some of the interesting facts about the admission to the top 49
business schools listed in US News and World Report, April 10, 2000 are summarized below:
1. Average undergraduate GPA (Grade Point Average) for
1999 ranged between 3.60 (University of California LA) to 3.11 (Rice University Texas) out
of 4.00.
2. Average GMAT Score for 1999 ranged between 725
(Stanford University) to 608 (Thunderbird Graduate School) out of 800.
3. Acceptance rate for 1999 ranged between 6.6%
(Stanford University) to 7 4% (Thunderbird Graduate School).
4. Average starting annual salary and bonus for 1999
ranged from $ 105,102 (Harvard University, MA) to $ 66,063 (University of Illinois -
Urbana Champaign).
5. Graduates employed at graduation for 1999 ranged
between 99.1% (Colombia University, NY) to 61.7% (University of Illinois - Urbana
Champaign).
6. Employed graduates three months after graduation
ranged between 100% (University of Pennsylvania - Wharton, North Western University,
Kellog, IL, Colombia University, NY, University of Michigan, Ann Arbor and Washington
University, St. Louis) to 85.1% (University of Notre Dome).
7. Annual Tuition and Fees for 1999 ranged between $
29,224 (New York University, Stern) to $ 12,604 (University of Georgia).
8. Total full time enrolment for 1999 ranged between
137 (University of California, Davis) to 1774 (Harvard University, MA).
D: NEW TRENDS IN TOP US BUSINESS SCHOOLS
Business programs are undergoing significant changes in their
offerings. Listed below are some of the new trends:
Vanderbilt University
The name of this University's business school is Owen Graduate School
of Management. It launched the Country's first E-Commerce specialization five years ago.
Only one student offered to register himself. Now half the school is pursuing the above
subject. To meet the growing challenge of teaching E-Commerce, a centre has been devoted
to E-Research. Nineteen Courses are being offered with dozen professors teaching
E-Commerce.
Chicago Graduate School of Business
As against 65 seats for E-Business course 225 students tried to
register.
University of California.
Berkley Fire Marshals had to be called to avoid the stampedes erupting
from too many students trying for too few seats in E-Commerce direction.
MIT Sloan School of Management
One-third of the student body has signed for the E-Commerce track.
Harvard Business School
The student with an Internet laden offering entitled
"Entrepreneurial Management" will be required to study this in the first year.
This will water down the impact of flagship of general management approach pursued
earlier. No need to create a special E-Commerce concentration is felt in this School.
University of Pennsylvania's Wharton School
The school has developed E-Commerce concentration.
Carnegie Mellon University
This university unveiled US first M.S. in E-Commerce in May, 1999.
Applicants numbered 3000 for 36 seats.
General Trends
a) The general approach followed by top business
schools of US (Chicago, Harvard, Virginia, Stanford, etc.) is weaving E-Commerce
throughout the Curriculum. Emphasis is on hands on experience.
b) The students are required to tackle actual problems
for real organizations.
c) Students are used by Corporations to access the
markets for their products or to develop E-Commerce business plans.
d) Computer Science departments and Business Schools
are jointly coordinating for MBA Programs.
e) Harvard has established a Silicon Valley Research
Outpost. This has enabled Harvard to prepare 50 case studies of new economy companies in
the past 18 months.
f) Stanford is planning to establish an E-Business
Research Centre with a sum of $20 million.
E: SPECIALTIES: US SCENE
Ten specialties were considered popular. These included Accounting,
Finance, General Management, Management Information System (MIS), International Business,
Entrepreneurship, Marketing, Production/Operation Management, Quantitative Analysis and
Non-Profit Organizations. It is very interesting to note that MBA started as a management
generalist program but with the passage of time, it has moved to specializations.
Incidentally Hospitality Management specialty has not been included in the above list.
This specialty is very popular in Singapore and Hong Kong. Many European Universities,
specialty Switzerland are also offering this specialty. Table No. 2 lists full time MBA
Programs with ten specialties. Nine to Ten business schools have been ranked in the
respective specialties.
Seven Universities were honored representing business programs ranked
as the best by Deans and Program Heads. Massachusetts Institute of Technology (MIT-Solan
Business School) has the distinguished honor to be ranked as the best in three specialties
namely, Management Information System (MIS), Production/Operations Management and
Quantitative Analysis. Table No. 3 shows the programs ranked as the best in ten
specialties.
There is vast market for part-time executive MBA Programs in USA. These
programs are operated in a flexible manner and are considered highly profitable for Career
Enhancement. Ten business schools have earned the top ten ranks. These Business Schools
are given in Table No. 4
Canadian universities
The Gourman Report has released ranking of Canadian Universities. This
was down loaded on March 04, 2000. Eighteen point criteria was used in the evaluation of
institutions and programs.
Statistical data was collected and reduced to a simple 3-digit figure.
This was called as the Gourman Score for determining overall rank. Information was
collected from public records, the evaluated Universities and agencies.
Criteria included considered elements given in Table No. 5.
Sixty (60) universities / colleges were ranked. Table No. 6 presents
top ten ranked Canadian Universities.
The maximum Gourman Score was 4.64 (McGill University) and the minimum
score was 2.47 (Saint Paul University).
Table No. 7 presents the analysis in a frequency table.
It would be apparent that 13% institutions were in the range of 3.51 to
4.64 and remaining ones (87%) were ranked ranging between 2.47 to 3.50.
The foregoing analysis has been carried out from the Gourman Report,
Undergraduate Programs, 10th Edition 1998. This was published by Dr. Jack Gourman,
Princeton Review Publishing, New York, USA.
Conclusion
Business Schools in Pakistan must take a serious cognizance of new
trends. Investment in faculty, equipment, curriculum, motivational system and checks and
balances at entry points is the crying need. Market economy trend is the global wave.
E-Commerce is growing spectacularly. New era is emerging. Students with dynamic and
creative ideas need to enter Business Schools for ornamenting themselves with new skills,
innovative knowledge and enlightened and forward looking attitudes to enable Pakistan to
play an excellent role in the Competitive world. This challenge must be met by us.
*Dean Executive Programs, Punjab College of Business Administration, Lahore.
Table
No. 1
Top Ten US Business Schools |
| S.No. |
Institution |
Rank |
Reputation Rank
by Academicians |
Reputation Rank
by Recruiters |
| 1. |
Harvard University (MA) |
1 |
1 |
1 |
| 2. |
Stanford University (CA) |
2 |
1 |
7 |
| 3. |
University of Pennsylvania
(Wharton) |
3 |
1 |
2 |
| 4. |
Massachusetts Institute of |
4 |
4 |
6 |
| |
Technology (Sloan) |
|
|
|
| 5. |
North Western University
(Kellog)
(IL) |
5 |
5 |
3 |
| 6. |
Colombia University (NY) |
6 |
8 |
10 |
| 7. |
University of Chicago |
7 |
5 |
8 |
| 8. |
Duke University
(Faqua) (NC) |
8 |
8 |
5 |
| 9. |
University of Michigan (Ann
Arbor) |
9 |
7 |
4 |
| 10. |
University of California Berkley
(Hass) |
10 |
12 |
16 |
| Source: Excerpted
from US News & World Report, April 10, 2000, P-68. |
Table No. 2
Specialties: Full Time MBA Program |
| Rank |
Specialty |
Number of School Ranked |
| 1. |
Accounting |
9 |
| 2. |
Finance |
10 |
| 3. |
General Management |
10 |
| 4. |
Management Information System |
10 |
| 5. |
International Business |
10 |
| 6. |
Entrepreneurship |
10 |
| 7. |
Marketing |
10 |
| 8. |
Production/Operations Management |
10 |
| 9. |
Quantitative Analysis |
10 |
| 10. |
Non-Profit Organizations |
9 |
| Source: Excerpted
from US News & World Report, April 10, 2000, P-70. |
Table No. 3
Specialties: Full Time MBA Programs Ranked best by Deans and MBA |
| Rank |
Field |
University |
| 1. |
Accounting |
University of Chicago |
| 2. |
Finance |
University of Pennsylvania
(Wharton) |
| 3. |
General Management |
Harvard University (MA) |
| 4. |
Management Information System |
Massachusetts Institute of
Technology (Sloan) |
| 5. |
International Business |
Thunderbird Graduate School (AZ) |
| 6. |
Entrepreneurship |
Babson College (MA) |
| 7. |
Marketing |
North Western University, Kellog
(IL) |
| 8. |
Production/Operations Management |
Massachusetts Institute of
Technology (Sloan) |
| 9. |
Quantitative Analysis |
Massachusetts Institute of
Technology (Sloan) |
| 10. |
Non-Profit Organizations |
Yale University |
| Source: Excerpted
from US News & World Report, April 10, 2000, P70. |
Table No. 4
Specialties: Part Time MBA Programs |
| Rank |
Name of Business
School |
| 1. |
New York University
(Stern) |
| 2. |
University of Chicago |
| 3. |
North Western
University (Kellog - IL) |
| 4. |
University of
California, Los Angeles (Anderson) |
| 5. |
DePaul University |
| 6. |
University of
Michigan - Ann Arbor |
| 7. |
University of
Southern California (Marshall) |
| 8. |
University of
California, Berkley (Haas) |
| 9. |
Georgia State
University (Robinson) |
| 10. |
Babson College (MA) |
| Source:
Excerpted from US News & World Report, April 10, 2000, P70. |
Table No. 5
Criteria for Evaluation for Ranking Canadian
Universities |
| 1. |
Institutional
auspices, Control and Organization. |
| 2. |
Number of education
programs and degrees conferred. |
| 3. |
Experience level
(age) of an institution. |
| 4. |
Faculty quality,
experience, intellectual pursuits and research productivity. |
| 5. |
Quality of students'
scholastic works and records of graduates in post-graduate studies and their field of
practice. |
| 6. |
Admission requirement
and basis. |
| 7. |
Number of students
enrolled. |
| 8. |
Curriculum content. |
| 9. |
Quality of
instruction and teaching load. |
| 10. |
Quality of
administration. |
| 11. |
Quality and access to
career placement servicing and counseling. |
| 12. |
Quality of physical
plant (buildings, surrounding). |
| 13. |
Finance, budget,
investment and funding. |
| 14. |
Quality of library
(size, material relevance and access) |
| 15. |
Computing facilities
and resources. |
| 16. |
Funding for research
equipment and infrastructure. |
| 17. |
Number of teaching
and research opportunities. |
| 18. |
Athletic - academic
balance. |
| Sixty
(60) universities / colleges were ranked. Table No. 6 presents top ten ranked Canadian
Universities. |
Table No. 6
Top Ten Canadian Universities |
| Rank |
Institution |
Gourman Score |
| 1 |
McGill University |
4.64 |
| 2 |
University of Toronto |
4.61 |
| 3 |
University of British Colombia |
4.22 |
| 4 |
McMaster University |
3.89 |
| 5 |
University of Alberta |
3.63 |
| 6 |
York University |
3.61 |
| 7 |
Carlton University |
3.58 |
| 8 |
Simon Fraser University |
3.55 |
| 9 |
University of Manitoba |
3.50 |
| 10 |
University of Ottawa |
3.45 |
| The maximum
Gourman Score was 4.64 (McGill University) and the minimum score was 2.47 (Saint Paul
University). |
Table No. 7
Sixty Canadian Universities Scores |
| Gourman Score |
Frequency |
% |
| 2.47 - 2.99 |
17 |
28 |
| 3.00 - 3.50 |
35 |
59 |
| |
52 |
87 |
| 3.51 - 4.00 |
5 |
9 |
| 4.01 - 4.50 |
1 |
1 |
| 4.51 - 4.64 |
2 |
3 |
| |
60 |
100 |
|
