Every two years, the popular business news magazine BusinessWeek compiles a ranking of MBA programs, primarily in
Question:
According to BitsinesslWeek, their rankings are determined as follows:
This year, we sent a 50-question survey to 16,565 Class of 2006 MBA graduates . . . [and] received 9,298 responses for the same response rate of 56% as in 2004. Graduates were asked to rate everything from teaching quality to the effectiveness of the career services at their schools on a scale of 1-10... . |These] scores received a 45% weight in the overall ranking.
We invited corporate MBA recruiters [to participate in a survey] ... Of the 426 companies surveyed, 223 answered, for a response rate of 52% . . . Recruiters were asked to rate their top 20 schools according to the quality of a B-schools grads and their companys experience with MBAs past and present. Companies could only rate schools at which they actively recruited ... Recruiter polls accounted for 45% of the final ranking.
/Note: The remaining 10% weight in the rankings is for intellectual capita/," which is not needed to answer this question.]
Required:
Discuss the usefulness of these rankings. More specifically, consider the reliability of the results from the two surveys (student and recruiter) that determine the rankings. Pay particular attention to the incentives of each group of survey respondents.
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