In a competitive Higher Education environment, stakeholders especially Students, Parents and Educational consultants are more concerned about the quality of educational institutions. There is a need for Higher education institutions initiatives to enhance high quality.Two widely adopted mechanisms of ensuring quality are Accreditation and Ranking. Any Institution operates in India, needs to obtain approval from regulatory body or authority either with AICTE- All India Council for Technical University or UGC- University Grant Council. Obtaining approval will not ensure the quality of the institution, hence it is most important for an education institute to obtain accreditation through an accreditation body or agency like Association of Indian Universities, National Assessment and Accreditation Council (NAAC), National Board of Accreditation, Bar Council of India, etc. From the last two-decade the Indian economy has shown a rapid growth and the sustainability of rapid economic growth can happen only through skilled Managers. For this reason, many Business Schools offering Management Education in India. Business Schools are offering various Management program approved by AICTE/UGC. AICTE approved Business Schools required to obtain NBA Accreditation whereas UGC approved institutions need to obtain NAAC accreditation.
NAAC accreditation is a comprehensive assessment of institutions as a whole. NBA accreditation is for a particular program rather than Institution as a whole. Once the Business School Accredited for 3 or 5 years based on absolute grade, it may not be performing the same as the previous year. The ranking considers relative grade, which assessed yearly performance and reflects where the institution standing in comparison to other institutions.
National Institutional Ranking Framework is a methodology to rank Educational Institutions across the country. Ministry of Human Resource Development set up a core committee on 29th September 2015 and identified broad parameters to assess the quality of intuitions. Parameters include; Teaching Learning & Resources, Research & Professional Practice, Graduation Outcome, Outreach & Inclusivity, and Perception. Each parameter consists of sub-parameters which computes a score based on the proposed data provided by Institutions. The institution can obtain an overall ranking or Discipline-specific ranking will be published. The maximum score set by NIRF is 100 with weight in five different parameters. The same applies to Management Institutions, each parameter and sub-parameters were given weightage.
TLR – Teaching Learning & Resources consists of Four sub-parameters; Students strength (SS 0.2), Permanent Faculty-Students ratio (FSR 0.3), Combined metrics for Faculty (FQE 0.2) and Financial Resources utilization (FRU 0.3). RP – Research and professional practices consist of Three sub-parameters; Publication (PU 0.4), the Quality publication (QP 0.4), Projects/Professional practice & Executive development Program (FPPP 0.2). GO – Graduation outcome consists of Three sub-parameters; Placement & Higher education (GPH 0.4), Examination (GUE 0.2) and Median Salary (GMS 0.4), OI –Outreach & Inclusivity consist of Four sub-parameters; Diversity ( RD 0.3), Women (WD 0.3), Economically & socially challenged students (ESCS 0.2) and Facility for Physically Challenges students (PCS 0.2). Perception of Employer and Academic Peers (1).
4 Maharashtra and Tamil Nadu states, 2 Haryana, Uttar Pradesh, and Uttarkhand and remaining 11 states each management institutions obtained ranking in the year 2019.
Table 3. Top 25 Management Institutions for the year 2019.
Indian Institute of Management, Bangalore got 1stRank with 81.31 and Indian Institute of Management Kashipur ranked 25thwith 52.76 Score with a mean score of 25 institutions 61.58.
The research & Professional parameter has a lower mean score of 36.0666 and Graduate Outcome has the highest mean score of 88.092. Research has a minimum score of 8.47 and Perception has a maximum score of 100.
In a competitive Management Education environment, every institution needs to analyze their present status on various parameters. 16 state management institutions appeared in the Top 25 Management Institutions and 4 Maharashtra and 4 Tamil Nadu institutions appeared in the top 25 Management Institutions. Based on 2019 information, every Management Institutions Graduate Outcome is outperforming and require to revamp their Research and Professional Practices. Indian Institute of Management- Bangalore is India’s Bagged Top 1 position in Management education with a 100% perception score.
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