A good B-school should emphasise on high quality faculty, supported by real research, and a credible student intake process
While there are many rankings by business magazines and other institutions, we are yet to see a real benchmark acceptable to all and benefitting aspiring students, their parents and corporate India. The current rankings do not answer most of the questions employers need to make an informed decision when selecting a B-school for placements. The three critical factors that a ranking should focus on include, whether or not a B-school has capable faculty, adequate research capability, without which the school will stagnate, and a credible student intake process. Subsequent weightage can also be given to infrastructure, corporate connectedness, and extra-curriculum activities. The present rankings lack any benchmark or professionally vetted methodology, which can check the authenticity of the frameworks used by various agencies. Rankings can be reliable for employers only if the ranking process follows a transparent and well-defined methodology, which is executed by thoroughly trained assessors and adequately published, and avoids any chance of relationship influence.
The ranking process can also lead to gap analysis for the B-School concerned to undertake an action initiative towards bridging the gaps part of a roadmap defined over 1-3 years. Such a ranking process could also serve as a clear base for companies to align their recruitment campaigns e.g. many companies may aim to recruit from medium ranked B-schools. Hence there should not be a blind race to be in the top ten or twenty ranks. I think in the long-term it will serve the education and capability development process towards building the real talent pipeline in the country.