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The U.S. News & World Report is made of of both the objective and subjective figures. The magazine seeks “authority opinion about program value and statistical indicators that assess the excellence of a school’s faculty, academic research, and students.” Opinions are gathered from directors, deans, and senior faculty to quantitatively gauge the quality of each respective MBA school; in addition, recruiters for business schools present his or her judgment based on their interaction with graduates. The statistical figures combines measures of the qualities of the incoming students and as well as the faculty with measures of post graduate success as related to{his or her} degrees. 95% of the 402 business schools responded to the ranking inquiry. The formula used to rank the schools included quality assessment (40%), placement success (35%), and scholar selectivity (25%).

The Business Week rankings are published on even years in the month of October; these rankings are based on astudent evaluation, an appraisal by corporate recruiters, and an intellectual capital rating. The studentsgenerally answer an online survey consisting of 45 questions. The recruiter survey quantifies the number of MBAs the recruiter’s company hired and from which school in the past two years. The intellectual capital aspect is based on a formula which compiles journal publications, books published, and professor to student ratio.

Forbes magazine calculated a 5-year ROI (return on investment from tuition) for 2002 graduates. Forbes surveyed a total of 18,500 graduates of 102 MBA programs and used their pre-enrollment and post-graduate business school salary data as a basis for comparing post-MBA compensation with the expense of attending the programs.

Wall Street Journal/Harris Interactive poll was the outcome of an online survey of 4,125 recruiters betweenDecember 13, 2005 and March 16, 2006, based on their experiences at schools where they had recently recruited.It is important to note that the rankings were not based on academic quality, but the survey questions were centered on faculty and curriculum. Distinct from other ranking methodologies, the WSJ poll was based on attributes essential to the long-term success of a businessperson such as communication skills, teamwork skills, personal ethics, problem solving abilities, and work etic. The WSJ includesa national list, European list, as well as a regional list of rankings.

The Economist’s methodology utilizes 80% of the responses given by schools and 20% of the figures providedby students and graduates to formulate a ranking system. Some attributes included in these surveys areaverage GMAT scores, professor to student ratio, diversity among each class, job position rates from the school’s career center, 3 months post-graduation employment rates, salaries before and after the program, and alumni network. Some schools end up being left out of top 100 compared to other lists due to the way the details are sorted.

The Financial Times polled over 10,000 alumni of 155 MBA schools. The appraisal began in July 2006 and included accredited programs (all around the world) that are at least five years old. The survey had 3 categories divided into 20 areas. (40% of the weight is from alumni, 55% of the weight from schools, and 5% based on research conducted by FT. The FT also produced a comprehensive “standing of standings” which combines the lists from The Economist, BusinessWeek, Wall Street Journal, Forbes, Financial Times.

The ultimate goal for those who enroll in an MBA program is career advancement. What form this advancement will take depends completely on each individual’s personal agenda. One student may plan to return to work for a former employer in a more sophisticated context, while another may seek to change careers entirely, transferring to a field that is more challenging or fulfilling. Other more entrepreneurial students may attempt to launch an independent business. Whatever the case may be, MBA programs are designed to guide the student toward the path of their choosing while providing the skills that will be required when they reach their destination.

How do they do this you ask? Well, the most successful MBA programs strive to gather groups of students with diverse backgrounds and goals and then facilitate the sharing of their experiences in the context of the study of theoretical business applications. Before we get in to the academic elements of the MBA program, let’s first take a look at some of the different techniques schools are currently using to cultivate leadership qualities in their students (besides the standard lectures, papers, exams, etc?).

1) Problem-Based Learning (a.k.a Case Studies)

Rather than simply conveying material to the students through lectures, business schools are now using the problem-based learning format to force students to think for themselves rather than regurgitate material that they’ve memorized.

Classes are subdivided into small groups and each group is presented with a particular management issue or problem.

As a team, the students must research the case they’ve been presented with and apply what they’ve learned from their studies to come up with a solution to the particular problem.

This type of exercise forces students to become “horizontal thinkers” who must consider ALL factors related to a particular decision rather than simply looking at an issue from on particular perspective (ie. accounting vs. marketing vs. finance).

2) Studies in the Field

Many schools are now supplementing class lectures and individuals study time with studies in the field

Although most students coming into MBA programs already have significant work experience, schools continue to stress the importance of “learning from doing”

The interpersonal skills that are crucial to strong leadership cannot be taught in the classroom setting but rather must be observed first hand in the field.

3) Team-Based Learning

While many of the projects assigned in business school require students to work in groups, team-based learning focuses specifically on how to work as team.

The goal isn’t so much to complete a particular assignment or project on some managerial issue, but rather the to learn how to work closely with others.

Setting goals, assigning responsibilities, and learning to rely on others are some of the skills involved.

Because team project and work groups have become so common in the business world, the schools are stressing teamwork abilities now more than ever..

The Curriculum

Now of course, underlying all of these different teaching techniques, is the curriculum itself. The first year courses of most MBA programs make up what is known as the core curriculum. While each school tries to present the material in what they believe is a unique or progressive manner, there remains minimal variation in these courses from school to school because every MBA student must ultimately have a fairly extensive level of knowledge in the following areas:

Business Strategy Analysis

Financial and Managerial Accounting

Management Statistics and Data Analysis

Managerial Economics

Marketing Management

Managerial Finance

Managing Organizations

Operations Management

For a detailed description of any or all of these courses, please browse through the course calendar or website of the particular business schools you are considering.

Once this core curriculum has been completed, most business schools allow their students to spend the remainder of their course time on electives. Many schools are recognized for particular programs that they offer and this recognition tends to revolve around these second year elective courses. Often business schools will have faculty who are eminent leaders in their field lecturing for these courses, providing the class with cutting edge research and the latest advancements in the area. Some of the areas that a second-year MBA student can specialize in include:

Accounting

Arts Management

Educational Administration

Entrepreneurial Ventures Finance

Government

Health Care Administration

Human Resource

Management

Management Consultants

Management Information

Technology

Manufacturing Management

Marketing

Not-for-Profit Organizations

Operations Management

Small Business Management

So as you can see, it’s no longer possible to pigeonhole business schools as gathering places for society’s elite, who put in a couple of years before taking over the family empire. A degree from a reputable business school can now place you on the fast track for a leadership position in any one of an incredibly diverse number of career paths. The MBA has become just as important in public service domains such as education, government, and healthcare administration as it is in the more traditional corporate sectors.

What to Expect for the Costs you have Sunk In?

Having established that going to business school represents a pretty serious financial burden, let’s see what you’re actually getting for all those dollars your laying out. What are the “frills” schools are using to attract students, and the impact that the program can have on your ability to attract employment and your earning potential once you’ve found the job you’ve been seeking.

Facilities:

Talk about plush. Be prepared to work extremely hard when you get to business school, but if your at one of the better ones, take solace in the fact that you’ll be doing it in style. The fact is that many of the schools (and not just the powerhouses) are investing heavily in infrastructure to woo you. Remember, there’s a definite element of reciprocity in the relationship between schools and applicants. To put it simply, they want you to like them just as much as you want them to like you. As a result a significant proportion of a business school’s dean’s time is spent fundraising. Many schools are building brand new buildings, with brand new classrooms, libraries, conference rooms, cafeterias and students lounges all supplied and state-of-the-art technology. Just as one example, Cornell’s Johnson Graduate School of Management has built a simulated trading floor with the exact same technology being used by real analysts.

Connections:

The business world is ALL about connections. We’re not going to feed you the line that “it’s who you know not what you know” but rather that it’s “who you know AND what you know”. For that reason, an MBA program has become incredibly important for young people trying to get their foot in the door. At business school you’re going to educated in the “what” and immersed in the “who.” Without even realizing it, you’re going to be spending two full years networking. Whether it’s faculty who have pivotal roles in major corporations, corporations who’ve formed alliances with the school, or fellow students, over the course of the program you’re going to be in close contact with individuals who are currently, or will be in the future, extremely influential in the business community. Imagine your new best friend happens to be the next Bill Gates, Warren Buffet, David Filo, or Jerry Yang just waiting to surface. Well that’s the kind of relationship that fortunes are built on.

Jobs:

The following excerpts come directly from the Business Week Guide to the Best Business Schools (6 th ed.). It summarizes the relationship between MBAs and corporate hiring so well that felt we should pass it straight on to you completely unadulterated. We further recommend that you find the complete article from which this excerpt was taken (available on the web) for supplementary reading and that you use the guide as one of your resources for choosing the right business school for you (in our opinions it’s one of the most informative).

As we approach the millennium, the MBA is unquestionably the hottest degree you can hold, particularly from an elite school. The stats prove it: At virtually all of the best schools, GMAT scores and starting pay packages are setting records. Applications are too, although a large part of the boom is coming from overseas…The 61 schools surveyed by business week for its 1998 rankings waded through 116,912 applications for the Class of 2000, and the average GMAT score was 667 for those attending the Top 25 schools, up from 649 just two years earlier.

Today, the MBA is on its way to becoming a requirement for anyone who hopes to build a career in Corporate America, and, indeed, much of the world… Certainly, it’s true that corporate recruiters can’t seem to hire enough MBAs these days. The 259 recruiters who participated in business week’s 1998 survey of the best business schools hired 10,348 MBAs in total, a 28 percent rise from 1996. And they would have hired even more if they could have: Grads of the Top 25 business schools averaged 3.2 job offers each, up from 2.3 in 1992, and compensation exploded. The median pay package (salary, bonus, and extras such as stock options or moving expenses) at the Top 25 hit $111,420, up 19 percent from just two years ago. Another telling figure: Median pay topped $100,000 at 18 of our Top 25-versus 5 two years ago.

For more about online mba degrees, visit us online.

Okay, so it may sound a little funny but fashion business school is something that many fashion students are looking into now more than ever. Their school does sound a bit ludicrous, but if you consider the reasons why people attend school in the first place the idea of fashion and business together only make sense.

These degrees are about learning the ins and outs of the business and refining your skills whereas business courses are for people who want to manage or start one of their own. For those out there already attending school, it is a safe assumption to say that many of them dream of having their own line some day. A fashion line is a business, and that is where fashion business school courses can come into play.

Who Needs Business School…Right?

Who cares if you are a pro at making A-line dresses fit even the sloppiest of figures if you can’t run your business properly? It is insane to think that so many people are failing to consider the vital role that this business industry plays in their chosen field.

What would the industry be if it weren’t for fashion business schools? If nobody knew how to run a business there would be no Versace, no Louis Vuitton or Donna Karen. Fashion in itself is a business, and those students out there who are serious about their success will put some consideration into fashion school [http://www.fashion-school-info.com/best-fashion-schools.html] business courses.

Deciding if Business School is Right for You

It is important to realize that while it may seem like common sense, not all schools are going to offer courses in business. School courses are designed for one thing or another, but not always both. Find out what type of coursework your chosen school offers and see if you can get some good courses in it in while you are in attendance.

This means that not only will you be able to learn everything that you have ever needed to know about the industry, but you can also learn the ins and outs of it as well and how to handle certain things that your business may throw at you. If you become a millionaire you can hire a manager but in the meantime, you are going to have to learn something or other about business in this industry. School may be the way to help you do just that.