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Priya's Probability of Getting into a B-School Introduction Every student dreams of obtaining a management degree from a top ranked Business School (B-School). However. selecting such a B-school is a complicated process. Choosing a B-school is based on a variety of selection factors like placements, programme authorisation, local reputation, the current students' quality, its academic rigour and the quality of its faculty. Based on these factors, surveys are conducted and colleges are ranked accordingly. In our case, a student Priya shortlists colleges based on the college rankings. However, she observed that most of the colleges' rankings vary from one another in different surveys. This added all the more confusion and by using Bayes' theorem, she estimated her chances of joining a particular B-school. B-schools Ranking Most of the graduates attend different career guidance fairs in their colleges. Priya is no exception. Wanting to pursue a career in management, she plans to take different management entrance examinations. But she is in a dilemma as to which exam to give and which college to apply for. Almost all the colleges try to entice the students with their advertisements. But students, without getting attracted to these advertisements, should emphasise on the B-school's ranking. Even though these rankings cannot be the final verdict to decide which college to join, they do help in decision- making process of the students. The students should also do the required homework by actively seeking the requisite information and weighing in their mind various aspects of the B-schools with reference to their own strength, weakness and ambition.Priya's Probability of Getting into a B-School Priya's Probability of Getting into a B-School Priya is in a fix because she relied on these rankings. Some colleges, which were in a decent position previously now, took a drop in number in some business magazine's rankings whereas they Exhibit I are in a better position in some other magazine's rankings. Therefore, Priya has to evaluate new B-schools Classified into eight clusters information i.e., new rankings and revise all the previously given rankings. Career Launcher, a leading Cluster education service provider, evaluated B-schools based on seven different parameters. They are: B-school Location Link Placement records of the last 3 years Indian Institute of Management (IIM-A) |Ahmedabad www.jimand.emnet.in Infrastructure: School and learning environment Indian Institute of Management (TIM-B) |Bangalore www.limb.emet.in Faculty Indian Institute of Management (JIM-C) Kolkata www.jimcal.ac.in Geographical Location: Proximity of B-schools to business hubs Indian School of Business (ISB) Hyderabad www.isb.edu Entrance exams applicable Indian Institute of Management (IIM.L) |Lucknow www.iimlac.in Interaction with alumni Xavier Labour Research Institute Jamshedpur www.x/ri.ac.in Interaction with Career Launcher students, studying at these B-schools. Cluster I Career Launcher, after visiting few of these B-schools and assessing the relevant inputs, grouped B-school Location Link these schools into eight clusters in order of their preference (Exhibit 1). Indian Institute of Management (IIM-[) Indore www.jimidrac.in Indian Institute of Management (IIM.K Kozhikode www.jimkac.in Faculty of Management Studies (FMS)-MBA & New Delhi www.fms.edu MBA.MS, Delhi University SP Jain institute of Management & Research (SPJIMR) Mumbai www.spjimr.org Management Development Institute (MDI) Gurgao www.midi.ac.in National Institute of Industrial Engineering (NITIE) Mumbai www.nitie.edu Indian Institute of Foreign Trade (LIFT) New Delhi www.jill.edu Jamnalal Bajaj Institute of Management Studies (JBIMS) Mumba www.jbims.edu Tata Institute of Social Sciences (TISS) Mumba www.tiss.edu Institute of Rural Management (IRMA) Anand www.irma.ac.in Mudra Institute of Communications (MICA) Ahmedabad www.mica-india.net Contd.Cluster III B-school Location Link B-school Location Link Indian Institute of Technology - Shailesh J Mehta FORE School of Management School of Management Mumba www.som.uitb.ac.in New Delhi www.fsm.ac.in Nirma University - Institute of Management Indian Institute of Technology -Department of New Delhi www.fild.ac.in'academics Ahmedabad www.nim.ac.in Master of Finance and Control (MFC), University of Delhi Management Studies mba. html (South Campus) Delhi www.mic.edu Great Lakes Institute of Management (GLIM) Chennai www.glakes.org Indian Institute of Technology - Department of Management Institute of Management Technology (IMT) Ghaziabad www.imt.ed Studies Roorkee www.nitr.ac.in Symbiosis Centre for Management and HRD IBS Gurgaon www.ibsindia.org (SCMHRD Pune www.scmhrd.edu Loyola Institute of Business Administration (LIBA) Chennai www.liba.edu Symbiosis Institute of Business Management (SIBM)| Pune www.sibm.edu Lal Bahadur Shastri Institute of Management (T.BS) Delhi www.lbsim.edu TA Pai Management Institute (TAPMI) Manipal www.tapmi.org Indian Institute of Forest Management (IIFM) Bhopal www.lifm.org International Management Institute (IMI Delhi www.imiedu Cluster VI Xavier Institute of Management (XIM) Bhubaneshwar www.ximb.ac.in B-school Location Link Narsee Monjee Institute of Management Studies Amity Business School NMIMS NOIDA, UP www.amity.edu/abs Mumba www.nmims.ed Institute of Technology and Management (ITM) Goa Institute of Management (GIM) Navi Mumbai www.itm.edu Goa www.gim.ac in Alliance Business Academy (ABA) Bangalore Cluster IV www.alliancebschool.org B-school Location Link Indian Institute of Social Welfare and Business Symbiosis Institute of International Business (SIIB) Pune www.sub.ac.in Management (IISWBM) Kolkata www.liswbm.edu University Business School (UBS Chandigarh www.ubschandigarh.org NT. Dalmiya Institute of Management Studies and Sydenham College of Commerce & Economics Research Mumbai Mumbai www.sydenham.edu ww.midalmiamemt.org Welingkar Institute of Management Institute of Financial Management & Research (IFMR) www.ifmr.ac.in Mumbai Chennai www.welingkar.org K J.Somaiya Institute of Management Studies Mumbai ittp:/simsr.somaiya.edu Cluster VII & Research (SIMSR) B-school Location Link Hyderabad www.ibsindia.org Master of Human Resource and Organizational Development Delhi www.du.ac.in Indian Institute of Technology - Department of Chennai (MHROD) Department of Commerce, Delhi School of www.doms.litm.ac.in Management Studies Economics Bharathidusan Institute of Management (BIM) Army Institute of Management (AIM) Kolkata www.aim.ac.in Tiruchirapally www.bim.edu Xavier Institute of Management & Entrepreneurship (XIME) Bangalore www.xime.org Coned.. Cluster VIII B-school Location Link DLQ Q + 0 Institute for Integrated Learning in Management (IILM) New Delhi www.film.edu Compiled by the authorPriya now compared career launcher rankings with the rankings published in an MBA-centric site called www.pagalguy.com (Exhibit II). Xavier Institute of Management and Entrepreneurship, Bangalore Loyola Institute of Business Administration, Chennai Exhibit II Bharathidasan Institute of Management, Trichy Ranking of B-Schools Lal Bahadur Shastri Institute of Management, Delhi Master of Finance and Control, University of Delhi Ranking B-School University Business School. Chandigarh Indian Institute of Management (JIM-A) Institute of Financial Management and Research, Chennai Indian Institute of Management (IIM-B) Indian Institute of Forest Mana ement, Bhopal Indian Institute of Management (IIM-C) Sydenham Institute of Management Studies, Research and Entrepreneurship Education. Indian School of Business (ISB) Mumbai Indian Institute of Management (IIM-L) IBS, Mumbai Xavier Labour Research Institute (XLRI) Master of Human Resource and Organizational Development, University of Delhi Faculty Management Studies (FMS) Alliance Business Academy, Bangalore Indian Institute of Management (IIM-I) Institute of Technology and Management, Navi Mumbai Indian Institute of Management (JIM.K Amity Business School, Noida Indian Institute of Foreign Trade (IIFT) National Institute of Integrated Learning and Management, Delhi SP Jain Institute of Management & Research (SPJIMR) Indian Institute of Social Welfare and Business Management, Kolkata Management Development Institute (MDI) NL Dalmia Institute of Management Studies and Research, Mumbai Jamnalal Bajaj Institute of Manag ent Studies (JBIMS) Army Institute of Management, Kolkata Narsee Monjee Institute of Management Studies (NMIMS) Institute of Management Technology (IMT). Ghaziabad Compiled by the author National Institute of Industrial Engineering (NITIE) Symbiosis Institute of Business Management (SIBM) When these rankings were compared to that of career launcher's, Priya noticed that eight B- schools had same ranks, 22 B-schools had an improvement and 23 B-schools had a decline in their Xavier Institute of Management (XIM), Bhubaneshwar. rankings. Tata Institute of Social Sciences (TISS) Indian Institute of Technology - Shailesh J. Mehta School of Management (IIT MUMBAI Priya observed that the chances of B-schools having the same ranks in both the surveys are 0.15 (8/53), the chances of decline in their ranks when compared to the previous survey are 0.415 (22/53) Indian Institute of Technology - Department of Management Studies (HIT DELHI) and the chances of improvement in their ranks are 0.433(23/53). The possibility of Priya joining a B- Symbiosis Centre for Management and HRD (SCMHRD) school which has maintained same rank in both the surveys is 0.125 (1/8); she joining a B-school if Mudra Institute of C communications (MICA) there is a decline in the ranks when compared to the previous survey is 0.043 (1/23) and she joining K.J. Somaiya Institute of Mana gement Studies & Research (SIMSR) B-school if there is an improvement in the rank is 0.045(1/22). Symbiosis Institute of International Business (SIIB) Priya, after seeing the discrepancies in the rankings in both the surveys, again gets confused TA Pai Institute of Management, Manipal about which school to join. International Management Institute (IMI), Delhi a. What are the possibilities of Priya joining a B-school which has maintained its rank in both Institute of Rural Management (IRMA), Anand the surveys and which is also amongst the top 6 B-schools? Nirma Institute of Management, Ahmedabad b. What are the possibilities of Priya joining a B-school which has an improvement in its IBS. Hyderabad ranking when compared to the previous survey and which is either SP Jain or MDI? Goa Institute of Management, Goa c. What is the probability that Priya is joining SP Jain given that she is not joining MDI, if there Department of Management Studies, IIT Roorkee 7 /8 > Q L Q Q + 0 is an improvement in the B-school ranking? Great Lakes Institute of Management, Chennai d. What are the possibilities of Priya joining a B-school which has a decline in its ranking Welingkar Institute of Management, Mumbai when compared to the previous survey and which is either NITIE or TISS? . What is the probability that Priya is joining TISS given that she is mol joining NITIT, if there is decline in the B-school ranking