Issue link: https://www.e-digitaleditions.com/i/438743
DIMENSION DEFINITIONS SAMPLE METRICS 5. STUDENT LEARNING AND OUTCOMES—The extent to which students acquire relevant knowledge and attain associated career outcomes, including personal competency development, student career outcomes, economic outcomes, and learning outcomes n Students' self-ratings of career readiness n Alumni ratings of job mobility n Recruiter ratings of the quality of job interview responses n Percent of graduates who pass CFA or CPA exams or other certifications n Average raise obtained during first five years post-graduation 6. INSTITUTIONAL RESOURCES—The overall quality of resources available to the institution and constituents, in- cluding facilities, financial resources, investment in faculty, tuition and fees, and student support services n Stakeholder ratings of tech-related instructional resources n Faculty ratings of facility quality n Percent of endowment spent on operating budget n Percent of revenue from continuing education n Incentive pay for faculty and staff n Ratio of academic advisors to students 7. PROGRAM/INSTITUTION CLIMATE—The overall edu- cational context, consisting of prevailing values, attitudes, and norms within the institution, including the robustness of the educational environment and attitudes toward diversity n Number of minority-focused MBA recruiting events n Student ratings of the value of diversity n Percent of faculty involved in extracurricular activities n Presence of faculty committees to monitor educational development of students n Extent of formal student feedback 8. STUDENT COMPOSITION—The overall makeup and corre- sponding quality of the student population with respect to academic achievement and professional experiences n Extent of student managerial experience n Performance levels in assessment centers n Percent of honor students with prior educational experiences n Level of participation in regional and national educational competitions 9. STRATEGIC FOCUS—The overall quality of the institution's articulated mission and its strategic plan to achieve that mission n Percent of programmatic or institutional growth n Participation of students in continuous improvement efforts n Extent of curricular alignment with mission University's Kellogg School of Manage- ment, located in nearby Evanston, recent- ly teamed up to offer executive leadership programs. If all schools recognize that they have unique value propositions, they might be more eager to cooperate and learn from others to improve quality. 4. Participate in the creation of a broad rating system. Gaining consensus on the right metrics might be a challenging and iterative process, but it's not an impossi- ble one. Moreover, a rating system can be updated and expanded constantly without disrupting previous data, because the criteria are not weighted by the system, but by end users. We believe all business schools would benefit by contributing to the development of metrics to measure the success of their educational missions. COURAGE AND CONVICTION Schools that are highly ranked are often fearful of losing their lofty status if they rail against the media rankings that have benefited them so greatly. This is not an irrational fear. But if stakeholders want a system that provides a more meaningful evaluation of school quality, it is our view that deans—particularly deans of schools that achieve elite status in the rankings— will have to be among the first to support it. By doing so, these deans can signal to others a true readiness for change and usher in a new era of transparency and improved quality assessment. Our hope is that schools of business can lead the way in the national movement for improved quality in higher education. In this regard, we must be champions of change. There is simply too much at stake. Robert S. Rubin is an associate profes- sor of management and co-director of BusinessEducationInsider.com at DePaul University's Driehaus College of Business in Chicago. Frederick P. Morgeson is the Eli Broad Professor of Management in the Eli Broad College of Business at Mich- igan State University in East Lansing. Their research on MBA program quality appears in Disrupt or Be Disrupted: A Blueprint for Change in Management Education from Jossey-Bass/Wiley. JANUARY | FEBRUARY 2015 BizEd 51