Ranking of business schools is an exercise closely followed worldwide, with institutions keen to ensure their programmes maintain the highest standards. 'In recent years, students who enrol for Master of Business Administration programmes tend to come from all parts of the globe, and they look to enrol in the best institutions. There is a need to rank these business schools too, to become more global in nature,' said Larry Wynant, professor of finance and associate dean for Asia of the Richard Ivey School of Business and executive director of the school's Cheng Yu Tung Management Institute in Hong Kong. 'Previously, publications tended to rank educational institutions in their own countries. Now they have moved with the times, and the surveys rank the best 100 full-time MBA programmes. 'The Financial Times ranks the leading business schools in the world according to the quality of their MBA programmes, and 50 major criteria,' he said. This year, FT ranked Ivey as the 'number one' school based on the 'value for money' criterion. 'Here, it looks at a manager's salary before enrolling for Ivey's MBA programme, and the gain in salary after completing the course,' Professor Wynant said. FT also ranked Ivey 'number three' for 'general management'; and 'number 19' for the second consecutive year in its annual survey of the top business schools worldwide. The Wall Street Journal judged Ivey as the 'number one' business school outside the United States, and 'number nine' among all large business schools worldwide. The ranking was based on interviews with more than 1,600 MBA recruiters. 'Richard Ivey's Executive MBA has come to be viewed as a premium programme, with people applying for a seat based on the quality of the programme and the quality of the people who enrol for these courses,' Professor Wynant said. 'Once they complete their programme, the qualification is seen to open doors to companies of the graduates' choice, as opposed to an EMBA programme from an unranked school. The distinctive quality of our MBA programmes lies in the emphasis on a global approach. Companies are looking for managers with a global vision. 'Our courses develop managers who can appreciate the best business practices across the world; the programmes focus on pragmatic business environments, and the students' diverse backgrounds appeal to those who want to learn alongside an international peer group.'