BUSINESSWEEK’S LAST RANKING ‘MISCALCULATED’ INTELLECTUAL CAPITAL SCORES FOR 50 SCHOOLS
Announcing the suspension, Levy insisted that the magazine remains “committed to reporting on the full spectrum of business school programs and the education and career prospects of undergraduates, but measuring the vast undergrad B-school population presents unique challenges. To ensure a reliable and rigorous methodology, we will use the coming months to evaluate potential improvements to our rankings process and product. When this evaluation is complete, we will let you know whether and when we expect to re-launch Bloomberg Businessweek’s undergraduate business school ranking.”
The last time BusinessWeek published its full-time ranking it had to re-issue the list because the magazine made significant errors in how it calculated the ranking. The screwup resulted in some especially dramatic changes in the intellectual capital portion of the ranking given to some schools. Yale University’s School of Management, for example, zoomed up eight places to 9th from an inaccurate ranking of 17th. The University of Chicago’s Booth School of Business plunged to 11th from fifth. Harvard Business School dropped 10 places to 19th from ninth. Rice University’s Jones School climbed to 21st from 27th. And Notre Dame moved up six places to 31st from 37th.
All told, BusinessWeek admitted that “miscalculated intellectual capital scores” were made for 40 American business schools and 10 international schools. The mistake had less of an impact on the overall rankings, which more heavily weighs surveys from MBA graduates and corporate recruiters. BusinessWeek said that only two schools had their overall position changed by two positions–the University of Minnesota’s Carlson School and Rice University’s Jones Graduate School of Business–while a dozen other schools suffered a one position change in their overall rank.