Business Today-Nielsen B-school Survey ‘08: IIMs on top; XLRI moves into top 5

Leading business magazine Business Today has come out with its annual B-school survey – India’s Best B-Schools 2008 in its issue dated July 13, 2008.

Survey puts Indian Institute of Management Ahmedabad (IIM-A), Indian Institute of Management Bangalore (IIM-B) and Indian Institute of Management Calcutta (IIM-C) in top 3 slots. The survey was conducted by global market research agency -- The Nielsen Company.

Pune based Symbiosis Institute of Business Management (SIBM) is pegged at # 4 rank. Indian Institute of Management Lucknow (IIM-L) and Xavier’s Labour Relations Institute (XLRI) are placed jointly at # 5 slot. XLRI has moved up 3 places. It was ranked # 8 in 2007 rankings.

While this may sound predictable, the surprise comes from the strong showing from Faculty of Management Studies Delhi (FMS Delhi) and Greater Noida based Birla Institute of Management Technology (BIMTECH). FMS which had slipped to #12 in 2007 ranking, and have moved up to # 9. BIMTECH has gained six placed to move to # 15.

The Business Today – Nielsen survey ranks top 30 B-schools.

In a marked departure from other B-school surveys, the BT- Nielsen survey is based on a ‘poll’ of MBA-stakeholder. Says the survey, “We are a market-focused survey. By market-focussed we mean we survey the “stakeholders” of a B-school – MBA wannabes, current MBAs, HR Heads and functional Heads. Therefore, we don’t try to rate parameters like the number of academic papers written by B-school faculty or how many books it has in its library.” Most other B-school surveys are based on data collected on parameters like institute’s infrastructure, intellectual capital and placement records.

How can aspiring B-schools move up the pecking order of BT survey? Survey offers some clues: “The survey suggests that they should focus on eligibility criteria for admissions, quality of placements, quality of faculty and reputation.”

Survey is based on Nielsen’s proprietary ‘Winning Brands’ model. This considers eight different attributes- reputation, teaching methodology, infrastructure, placement, admission eligibility, faculty, specialist units, and quality of placements. The survey is based on data collected from 853 respondents in phase 1 and 547 respondents in phase 2.

How top 10 B-schools stack up in BT survey 2008:

Institutes 2008 Rank 2007 Rank 2006 Rank

IIM-A 1 1 1

IIM-B 2 2 2

IIM-C 3 3 3

Symbiosis-Pune 4 4 4

IIM-L 5 5 5

XLRI 5 8 6

JBIMS-Mumbai 7 6 7

IIM-I 8 6 8

ICFAI-Hyd 9 9 13

FMS Delhi 9 12 8

‘Road to CAT 2008’: MBAUniverse.com Aspirant Zone special series for MBA aspirants

So you want to bell the CAT, this November, and enter into the prestigious B-schools like IIMs, JBIMS, XLRI and MDI? But you have several questions about entrance test preparations and life at B-School?

Who better to answer these questions than the CAT toppers themselves, who are now studying at top B-school!

India’s leading management portal MBAUniverse.com presents a new series ‘Road to CAT 2008’ which will guide and inspire CAT aspirants at every stage. In this series, begin with a chat with students from top B-schools on their journey, and life at B-school.

The B-school students that we interviewed for this series are from institutes like IIM-B, IIM-I, IIM-K, JBIMS, FMS Delhi and IIT Bombay’s SJMSOM.

After presenting the chats with students of IIM B and IIM I, MBAUniverse.com present a chat with Vivek Mandhata, student of IIM-K’s Post Graduate Programme, where he shares with MBAUniverse.com his experience while into IIM-K, and campus life.

Q- What is the importance of 'preparation' for a candidate wanting to crack management entrance exams like CAT, XAT and others? How important was preparation in your personal journey to your campus?

A- Preparation is of utmost importance when it comes to such high pressure, competitive examinations. These are the exams which could play a decisive role in the actual career path that an individual takes. Although a lot of stuff which is tested in these exams is elementary, preparation plays a vital role in how one handles pressure on the examination day (augmented with so much of hype and media coverage associated with it) and also how quickly a person can think through such aspects. Preparation did play a vital role in my cracking of the CAT.

Q- How did you prepare for management entrance exams like CAT, XAT and other exams? Please elaborate. (Kindly share a detailed answer for this question)

A- I started my preparation 3 months ahead of the D-day and had a systematic routine in place where I would spend at least 2-3 hours a day on the exam preparation. I believe that such planned and continuous preparation could go a long way in maximizing ones chances (although there are no guarantees in life!!)

My preparation routine used to be focused on practice in simulated conditions. I used to take regular tests and attend mock tests conducted by institutes to get myself into the mould of taking up such exams.

Q- Did you enroll into a coaching or test-prep institute? How did it help?

A- Yes, I did enroll into a coaching center for a crash course in the 3 months that I did my preparation in. I went through morning classes over weekends. I also regularly took mock tests. The classes gave me a platform to discuss with people and also meet likeminded people heading in the same direction. The material given by the institute and tests were of great help in giving my preparation proper direction and also helped me identify the areas which required improvement and working. Especially since I was working this provided the fast path to good preparation.

Being a CA, I had lost touch with mathematics after my CA Foundation course. Hence the classes were an important avenue for me to get back the speed.

Q- How should an aspirant choose the right test-prep institute? What should be the parameters for making this choice?

A- The three important criteria which anyone should apply for choosing an institute are quality of faculty, quality of the material they provide, quality of the feedback system. I feel these are the important factors which should be considered. Quality of faculty and material determine the extent of technical support one would receive. The importance of the feedback system is paramount because if the errors and points of improvement are not identified it would be difficult.

Q- How is life in a top B-school from a student's point of view? What are the highs and lows!

A- For me this is a first college experience (since CA does not warrant a college) and it has been fabulous. I have enjoyed every moment of it – both the ups and the downs. I have cherished being a member of the Students' Council and working for the betterment of student life on campus. Some of the highs are:

· Meeting so many people and developing a healthy network of contacts.

· The launch of www.iimklive.com the student's portal at IIMK (the first of its kind).

· The parties and the events such as Horizons, Backwaters, AIMS, seminars, leadership talks, etc. on campus which happen at such frequent intervals.

The only low point has been when my focus on all the extra-curricular activities let down my academics a bit.

Overall however it has been an amazing journey.

MDI inaugurates its management programmes; adds more seats

Gurgaon based Management Development Institute (MDI) has inaugurated its Post Graduate Programme in Management (PGPM) on June 20, 2008.

According to the information shared by MDI with MBAUniverse.com, "MDI's 15^th Post Graduate Programme in Management (PGPM) was launched on Friday with fanfare along with two other key programs, Post Graduate Programme in Human Resource Management (PGP-HR) and Post Graduate Programme in International Management (PGP-IM)."

Mr Arun Maira, Chairman, Boston Consulting Group, Mr Aadesh Goyal, CMD of People Strong Services and Mr. Aquil Busrai, Executive Director (HR), IBM India addressed and inspired the students of the new batch.

MDI has added more seats to its programmes this year. Says MDI, "Keeping in view the rising demand of participants in the three courses, MDI has increased the number of seats this year. For PGPM, the seats have gone up to 240, for PGP-HR to 60, and for PGP-IM 50."

Talking about profile of PGPM participants, MDI says, "This year, out of 225 students enrolled in PGPM so far, 21 are females. In PGP-HR among 57 enrolled till date, there are 27 women participants. In PGP-IM 36 boys and three girls have been enrolled while one more male student is likely to join shortly."

Addressing the students, Mr Maira said, "In view of the rising global competition, there was no room for complacency. India needs faster change in order to reach the level of the developed nations. Here the students of management can play a pivotal role. All positive signals and climate is available – there is greater availability of capital, distances have been blasted thanks to technology, and there is no dearth of talent."

Mr Maira further also urged the new participants to decide and chalk out a definite strategy and wok towards the goal with concentration.

Mr Busrai dwelt upon the necessity of bringing a rapid change in view of the availability of the vital resources – capital, jobs, and resources. He said, "It now depends upon the management students how to achieve the target growth."

He also emphasized on the greater coordination between industry and academia so that the institutions of learning could formulate their curriculum as per the growth requirements. New theories have to replace the old and people have to keep themselves updated as knowledge is immense and rapidly developing.

Mr Goyal asked students to cultivate qualities of leadership. "A successful leader has to inspire, motivate, and collaborate. He called upon them to achieve highest standards of integrity, ethics and forgiveness," said Mr Goyal.

On the occasion Prof C V Baxi, Director, MDI said, "Globalization and emerging markets economy posed a new challenge for the corporate managers as they had to find ways to confront realities. Learning should be transformed in a proper and appropriate manner to different levels. Industry had to play a significant role in dissemination of knowledge. Knowledge management was important as mindset of Indian corporate had to embrace the new changes smoothly and willingly."

Talking on the occasion, Prof Subir Verma, PGPM Chairperson said, "The course nurtures the social, economic, political, ideological and ecological environment of modern society and their characteristic values. The curriculum design and pedagogy emphasize the development of students' skills and abilities to apply management theories and concepts to live problems in business and industry. Students achieve high standards of excellence with a global mindset and all round personality with integration of Indian values."

MDI has student exchange arrangements with 45 universities and B-schools across the world. There are agreements with ESCP-EAP, Paris, EDHEC Business School, IAE Aix-en-Provance France and HHL Leipzig Graduate School of Management, Leipzeg, Germany for dual degree program.

A Tale of two B-Schools......

Things have never been better for MBA aspirants. With the economy on a roll and corporate India on an expansion spree, the demand for managers has been growing. Placement season this year saw salaries soar as demand far outstripped supply. While the IIMs were the most sought after, second-rung colleges, too, were in demand.

Take the case of the two Delhi-based business schools that have actually slipped in our rankings this year-the Faculty of Management Studies (FMS) and the Indian Institute of Foreign Trade (IIFT). While FMS has dropped four places to 12 in our overall rankings, IIFT has fallen to the 16th position (from 10 in the previous year).

Both the colleges, though, had a successful placement season this year. FMS saw average salaries shoot up by 35 per cent this year to over Rs 12 lakh per annum. As many as 105 companies queued up, but only 36 managed to recruit.

And a virtual who's who was there, including IBM, Cognizant Technologies, Standard Chartered Bank, ICICI Bank and HSBC. IIFT placements, too, had an impressive turnout of blue-chip recruiters. Average salaries were up over 23 per cent to Rs 8.5 lakh. The recruiters included private banks like Citibank and ICICI Bank to FMCG giants HUL and Dabur to tech majors like Infosys and HCL.

And yet both these colleges have slid in our rankings. Clearly, they are facing increased competition from the other B-schools that have not only caught up with them, but also outscored them on the parameters on which the colleges were ranked.

These include infrastructure, reputation, faculty and quality of placement. Says Shiv Agrawal, CEO, ABC Consultants: "The gap between the top B-schools, including the IIMs, has narrowed. So if some schools have slipped in the rankings, it may not be because the performance of these schools has not been up to mark. It's just that other schools might have done better than them in the last one year."

Gearing up

Both B-schools are already moving to reclaim their positions. FMS, for instance, has been busy for some time now in improving the infrastructure at its disposal. A department of the University of Delhi, there has always been a question mark over its ability to generate adequate funds to provide quality basic amenities like a well-equipped library and excellent it infrastructure to its students.

It's an issue that the University of Delhi is now trying hard to address. Recently, it spent about Rs 8 crore in stocking the library and putting an online journals system in place. FMS now claims to have access to over 33,000 journals.

Efforts are also underway to build on the technology resources of the institute. The North Campus of FMS is now fully Wi-Fi enabled-in the last year the institute has added state-of-the-art hp computers for its students. And that's not all. A University Grants Commission (UGC) grant of Rs 36 crore has been approved for FMS to further tone up its infrastructure. Also in the pipeline are plans to build a bigger integrated campus for FMS in Delhi University's South Campus over the next two years.

IIFT is also moving to get its basic infrastructure in place. A deemed University approved by the UGC, the institute gets aid from the Ministry of Commerce. In fiscal 2007-08, it has been given a grant of Rs 1 crore to improve its it infrastructure, Rs 70 lakh for stocking its library and Rs 40 lakh for its other training facilities. Just the same, IIFT claims that the facilities provided by the institute to its students is second to none. "What we give the students is just fine. We are better than the IIMs in infrastructure," says Satinder Bhatia, Chairperson, IIFT.

B-school watchers agree that in a few years, most of the frontline institutes would be on par. Says Ronesh Puri, MD, Executive Access, an executive search firm: "Quality of infrastructure has improved in most of the institutes recently. In two-to-three years, there will be little to choose between them."

There are other areas where the two B-schools are trying to improve. IIFT, for instance, is looking to become a research-driven institute. The institute, which was established in 1963, initially functioned as a think tank for the government on policy matters related to foreign trade.

That still continues to be its core competence, but it's now planning to broadbase its research initiatives and focus more on industry-specific research. Says Bhatia: "We have to do more research to give us the edge over other institutes." Adds K.T. Chacko, Director, IIFT: "The research done, in turn, will be taken to the classrooms and will enrich the course content."

FMS, on the other hand, has recruited about eight faculty members last year to further improve its faculty-student ratio (which is now less than 1:10). It's also looking to revamp its course curriculum and build the institute as a Centre for Academic Learning. The thrust, the school says, is to build leaders for the future with focus on corporate and social responsibility.

Value for money

But even as FMS and IIFT grapple with problems in the short to medium term, most experts agree that both these institutes are centres of learning that have a lot to offer to budding MBAs and India Inc. They have a rigorous process of selection, which ensures that only the very best make it to these institutes. IIFT, for example, received 40,000 applications for 180 seats (a ratio of over 220 candidates per seat).

At FMS, the numbers were even more staggering-this year, over 50,000 students applied for 130 seats (that's 380 applicants for one seat). Then these institutes ensure regular co-ordination between students and the industry through seminars, conclaves and guest lectures. This not only helps the students in getting exposure, but also helps them in getting placement offers. Says Arka Bhattacharya, an IIFT student of the 2006-08 batch: "We have a packed student activity calendar. We get regular opportunity to network with experts and leaders from corporate India."

What makes an MBA from these two schools even more of a bargain is their reasonable course fee. FMS takes pride in the fact that it is the least expensive management school in the world. It charges a measly Rs 20,000 for its two-year MBA programme. IIFT is more expensive at Rs 1.75 lakh per annum, but is among the few institutes in the country to offer a two-year course in International Business.

Points out Chacko: "International business education is our USP. With India's integration into the global economy, it's a handicap if business executives don't understand international business variables." Adds Agrawal: "Institute rankings have become dynamic with all the institutes striving to be the best. But it still does not take away from the fact that both FMS and IIFT are on a good wicket." Indeed, it's just that they'll have to work a bit harder to go up the rankings.