Business School Rankings for the 21st Century (Jan 2019)

Written by David Pitt-Watson and Dr Ellen Quigley under the UN Global Compact with support from Aviva Investors, this January 2019 report examines how business school rankings and accreditation systems influence management education. The authors argue that existing ranking criteria—developed years or decades ago and focused on metrics like salary progression—inadequately measure what students actually learn and fail to incentivize sustainability integration. The report contends that because rankings significantly motivate business schools, they represent a critical lever for reform. It explores how current evaluation systems might be redesigned to encourage schools to equip future leaders with knowledge and skills for building inclusive, sustainable economies. The analysis reviews both accreditation agencies (AACSB, AMBA, EFMD) and media-driven league tables (Financial Times, The Economist, US News), identifies unintended consequences of existing criteria, and highlights emerging alternative models that weight sustainability more heavily. Ultimately, the report positions business school evaluation as central to the broader debate about business education's purpose and relevance to 21st-century challenges, offering constructive pathways for responsible business leaders to influence this critical system.