FICCI Business Schools Rating aims to be India’s First Industry Focused Comprehensive Ratings of Business Schools that aims to define the roadmap for progress and enhancement of employability of management graduates
Management Education in India enjoys a high level of respect with graduating students aspiring better career options. The best and brightest students apply themselves vigorously in pursuit of MBA programs and there is a booming demand for professional managers.
Some of these programs also come under criticism for ranking low on management skills, leadership, innovation and ethics. The multiplicity and heterogeneity of the B-Schools in India makes it difficult for students to comprehend and assess a school’s standing before applying to an appropriate institution. With aspiring students across various disciplines including Engineering, Accounting, Science, Arts, Law & Medicine, there is a need to create transparency to an Institution’s rating across specializations, Industry focus & Interface, Innovation and Future Orientation.
We are all aware that the reputed and most recognized three Global Rankings – ARWU, QS and THE in their current form don’t consider some of the key objectives of our Indian Educational System. To add to the woe, almost every media agency publishes a ‘Business School Ranking’ thereby furthering the complexity for Stakeholders. The Management Schools Rankings of NIRF by MHRD has not helped either. Business Schools now run the risk that is currently being faced by Technical Institutions in the country that is constantly churning out of Unemployable Graduates whose skills are outdated.
To help bridge the gap in evaluation and in the process, FICCI in association with ICARE Ratings, have designed a framework that will gradually propel our Business Schools to the global arena. FICCI, as a preeminent and apex Industry body is well positioned to champion a cause – that will act as a competitive, objective and a global benchmark for our Indian Business Schools, to define the roadmap for progress and direction for competing globally.
The first meeting of the Governing Council, which had the participation of senior Industry leaders, was held on December 19, 2017. The council deliberated upon the framework and suggested a road map for impactful implementation. An interactive meeting with few leading Business School leaders was also held to get their perspective on the subject. FICCI is in the process of announcing the launch date of this rating exercise.