In late 2007, when the Financial Times (FT) released its annual ranking of the best business schools in the world, there was an uproar in Indian B-school circles.
While the Indian School of Business (ISB) Hyderabad's one-year Post Graduate Programme for executives made it to the 20th position in the FT Global MBA 2008 ranking list, the Indian Institute of Management Ahmedabad (IIM-A's) Post Graduate Programme in Management for Executives (PGPX) was not included.
Next year, IIM-A could use the same ranking to gain a global footprint.
Having entered its third year, the PGPX will now be eligible to be listed for the FT MBA rankings.
The FT MBA ranking is considered one of the most prestigious B-school ratings in the world and uses over 20 parameters to determine the rankings. The criteria include weighted salary, placement success rank, alumni recommendation rank, international mobility rank, doctoral rank and research facilities.
To be eligible to participate, a business school must be internationally accredited by a body such as the AACSB, Amba or EQUIS; it must have a full-time MBA programme operational for at least five years; and its first class must have graduated at least three years ago.
When PGPX did not find a place in the FT MBA list, institute director Samir Barua had written an e-mail to all alumni members.
In the email, he said: "If the same criteria were to continue for inclusion in the list for ranking MBA programmes, the PGPX would qualify only in 2010. Till then, no programme of IIMA would qualify for ranking of MBA programmes by the FT.
For the PGP, the Institute has been informed by the FT that the programme qualifies for inclusion in the list of programmes for ranking as Masters Programme in Management. If the institute decides to participate in this (Masters Programme in Management) ranking by the FT, then the PGP will be included under this category."
The institute has just bagged the European Quality Improvement System (EQUIS) accreditation, the international system of quality assessment, improvement and accreditation of higher education institutions in management and business formed by the European Foundation for Management Development (EMFD), becoming the first B-school in the country to have obtained the same.
"Since we are completing three years of the PGPX programme, we will be eligible for the FT-MBA global rankings. Once listed, we are confident of placing the programme on a global map," said Arvind Sahay, chairperson, PGPX, IIM-A.
IIM-A had also taken up internet marketing initiatives considering that for most executives across the world, the web would be the first information access point. It had also designed separate brochures for Indian and overseas students.
