30+mba-第72部分
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It surveys some 10;000 students; 500 recruiters and; using a third
survey; conducted online; asks schools for statistical information about their
programmes。 Current surveys count for half the score and the previous
two the balance。 Intellectual capital; one of the measures; is arrived at by
calculating how many publications a school gets in 20 key journals and
how many of their books are reviewed in the New York Times; or similar
papers。 It ranks the top 30 US schools followed by a ‘second tier’ of 10 US
schools and finally a further 30 US schools ‘also considered’。 Then e
304 Appendix
10 non…US schools followed by a ‘second tier’ of 5 non…US schools and 5
non…US schools ‘also considered’。 The ranking bines students’ and
recruiters’ views; with an academic rating; job placement; teaching quality;
starting salary; campus facilities and a number of other measures to arrive
at a final place in the league tables。 You can re…cast the rankings yourself;
emphasizing the criteria that ma。。er most to you。 If you want to study
outside the United States or that country’s immediate sphere of influence
(the readership range of Business Week would be a good approximation);
then this ranking will be of only limited use。
Economist Intelligence Unit
This magazine in the Economist stable produces the annual Which MBA
Guide (h。。p://mba。eiu)。 Its top 100 schools are about 45 per cent
American; 45 per cent European and 10 per cent from the rest of the world。
Student and alumni ratings make up 20 per cent of the total ranking; and
80 per cent is based on data provided by schools。 History has been built
into the rankings by taking a weighted average; with the current year
accounting for 50 per cent; the previous year 30 per cent and the year before
that 20 per cent; in an effort to produce a more rounded evaluation。 Opening
new career opportunities; personal development/educational experience;
increase in salary and potential to network are the five categories used to
rank schools。 Sub…headings within each area drill down to examine quality
of staff; of fellow students and of the diversity of students and the overall
education experience。
Financial Times
The FT (。。 》 Business education 》 Business school rankings)
produces a top 100 global business school ranking as well as a top 60 European
Business Schools。 It produces separate and bined rankings for
schools with full… and part…time MBA programmes; Masters in Management
and Executive Development Programmes。 The FT ranking is a highly
plex mixture prising earnings increase; satisfaction; percent of staff
with doctorates; percent employed at three months; number of women
as students and on the faculty; proportion of international students and
faculty; foreign language provision and research ranking。 To make any
sense of the ranking takes time; but fortunately you can revise the ranking
by eliminating some criteria。 However; all that doing that will achieve is
a reordering of the existing schools; it won’t bring any more deserving
candidates to your a。。ention。 Rankings are available back to 2002 so you
can see who’s in and who’s out。
Appendix 305
THE STANDARDS FOR BUSINESS SCHOOL
APPLICANTS
While you may not want to go to a top business school – hopefully a。。er
spending 30 days working through this book you won’t need to either – you
may find it forting to know that you could have got in had you wished。
To get into Wharton; Harvard or Chicago in the United States; INSEAD;
London Business School or Cranfield in Europe; or Nanyang Business
School (Singapore) and Ipade (Mexico) you need to make the grade。 But
what grade; exactly?
Top business schools are looking for students with money; talent and
ideally hard practical experience。 The precise standards vary; but a good
first degree and at least three to five years working a。。er university; ideally
with some managerial experience or exposure; are mandatory。 But as the
top schools consider themselves to be in a world market for students; the
challenge has been to find a world standard。 That’s where the Graduate
Management Admissions Test (GMAT) es in。 For 1;800 business schools
worldwide; the GMAT has been recognized for over 50 years as a proven
and reliable measurement; to assess candidates’ skills and predict their
success on MBA programmes。
The GMAT is administered in 94 centres around the world and given
under standard conditions with the highest level of security; to ensure that
scores are parable across applicants。 It costs 250 to take; wherever the
test is taken。 The test itself takes 2。 hours and prises tests in three areas:
analytical writing (analysis of an issue and of an argument); quantitative
section (problem solving and data sufficiency); and verbal (reading prehension;
critical reasoning and sentence correction)。 The test is designed
to measure verbal; mathematical; and analytical writing skills developed
throughout education and work。 It does not measure business knowledge;
job skills or any specific ability or university course work。 The test doesn’t
a。。empt to assess subjective qualities such as motivation; creativity and
interpersonal skills。 These areas are usually explored during the interview
at the business school。
So what score are top business schools looking for and how important
is the test to ge。。ing in? Well; in the first place the scores are a moving goal
post。 You are up against everyone else taking the test; so as the average
scores move up so does the required score。 The average score is currently
around 500。 Less prestigious business schools look for a GMAT score of
550; and a score around 650 on the GMAT will make you a petitive
candidate at most business schools。
306 Appendix
Do business schools place much reliance on
this test?
Chicago Graduate School of Business looks for between 640 and 760; for
example。 But a high score won’t guarantee a place; nor will a low one
preclude admission。 As the Associate Dean of Student Recruitment &
Admissions at one of the top five business schools says of the GMAT score;
‘It’s just one piece of a plex puzzle。’ Harvard’s website says much the
same。 ‘Every application is reviewed as a whole package。 We are admi。。ing
candidates with personalities; not scores。’
Still; despite these remarks; business schools will always ask for a
GMAT score。 The fact is that the test has worked well over time as a
predictor of student quality and success。 GMAT is administered by the
Graduate Management Admissions Council (gmac); whose list
of governing schools includes around 200 of the world’s highest…ranking
business schools; so this is in effect their own test。
Improving a GMAT score
You can improve your GMAT score and; as business schools will usually
only ask to see your latest GMAT; you can take it as o。。en as you need to
get the right score for your chosen school。 Around a fi。。h of GMAT tests
are taken by people who have taken the test more than once within a year
and; if you want; you can take the test up to five times within a 12…month
period。 Unsurprisingly; a higher proportion; one in three; of people scoring
between 500 and 540 are repeat test takers; indicating that they are looking
for a place at a top school。
Mike Byron’s excellent book; How to Pass the GMAT: Unbeatable Preparation
for Success in the Graduate Management Admission (2007; Kogan Page); is
remended reading。 As well as warm…up tests and tips on preparation;
this book is full of helpful advice that goes well beyond just upping your
score。 It’s vital to know; for example; that business schools will look beyond
the single total score; looking for any significant imbalance。 So being
absolutely brilliant at problem solving and useless in the verbal area could
bar entry to some schools; even though the average score is high enough。
Business schools’ individual tests
Many schools have their own tests mirroring the GMAT。 The only logic for
having these is to allow them to evaluate the small number of applicants
who for any reason can’t take the GMAT before being interviewed。
academia 214; 286; 302
accountants 14; 17–18; 21; 23; 65; 67; 73;
129; 190
accounting glossary 37
accounts; ge。。ing 49
acquisitions 52; 92; 132; 163; 185
Advance Collegiate Schools 301–02
advertising
effectiveness 105
strategies 103–04
Alternative Investment Market (AIM) 68
Altman Z…Score 47
Amazon 82; 268; 280
amortization 35
Ansoff; Igor 270; 294
Antai College of Economics & Management
(ACEM) 7
Apple puters 48; 63; 98; 219; 234; 241;
262; 266; 280
appraisals 154–55; 184
Ashridge Business School 219; 285
Aspen Institute 12; 303
Asset Based Finance Association 60
asset…stripping game 65
Association
to Advance Collegiate Schools of
Business 301–02
of MBAs (AMBA) 286; 301
Audi 85; 97
audit 23
auditors 23; 67; 224
average collection period 44
Babson College 175; 215
balance of payments 212
balance sheet 3; 14; 17–18; 27–28; 32–35;
37–39; 42; 49; 55; 61
balanced score card 150
bank accounts 56; 61
Bank of England 261
banking crises 163
Bankruptcy Acts 176
Barclays 93
behaviour 69; 138; 166; 178; 185; 191; 201;
221; 224–05; 247; 301
below the line (BTL) 104
Berkeley University of California 280
Best Social Accounts 217
beta factor 71–72
Big Mac Index (BMI) 201
Bilimoria; Karan (Lord) 73; 220
Birch; David 4; 214
Blake; Robert R 148
blogs 117; 262; 280; 295
Blooming Marvellous 86; 105; 146
blue chip clients 110
BMW 266; 299
Bocconi 8; 233
Body Shop International 82; 87; 97; 186; 188
bonds 5; 57–58; 64; 69; 206
bonus 14; 54
bookkeeping 23–25; 165–66
boom 201–02; 204
boss 102; 109; 142; 144; 146; 168; 185
Boston College 280
Boston Consulting Group (BCG) 265
Boston Matrix 271–72
brainstorming 258
brand
loyalty 269
value 97
break…even analysis 14; 51
British Airways 199; 204
budget 77–80; 97; 112–13; 192; 207; 240
Buffe。。; Warren 220; 266
bureaucratic environment 133
business
angels 5; 62–63
cycles 201; 204–05; 207
environment 2; 4; 121; 166