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IIMs Snub MBA Rankings by Indian Media In a significant development, directors of all IIMs (Ahmedabad, Banglore, Calcutta, Lucknow, Indore and Kozikode) have decided not to participate in ranking exercises carried out by various media outfits in India, however, IIMs will continue to participate in Global Ranking Surveys carried out by leading publications including Financial Times & Economist. IIMs are reported to have taken this stand in view of questionable methodology adopted in these surveys. This move has raised considerable heat in local media industry as it is going to impact the credibility of surveys with all six IIMs out of it, and hence, will impact a sizeable advertising income being generated through these issues. At present around five B-Schools ranking surveys are published in India by leading publications including Business-Standard, Business World, etc., which try to rank Indian B-schools on various parameters. As per one industry observer, MBA Ranking Survey issues sell 3-4 times over normal circulation and have 4-5 times more advertising income compared to a standard issue. Infact, the MBA ranking market is so big that even a general-interest magazine like Outlook fishes out a B-school survey every year in order to tap the MBA Market. In a country obsessed with education, these issues are lapped-up by an army of MBA aspirants & B-school students, since more than 3 lakh students appear for CAT (Common Entrance Test for MBA admission) every year. Hence, this move by IIMs is heavily criticized by media groups (one of the leading financial newspaper even went ahead to write main editorial criticizing the move). |
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