Abstract

This study used a multiple-constituency approach to evaluate the effectiveness of business schools. The critical questions that formed the focus of this effort were (a) is there a consensus in perceptions of business school effectiveness from the perspectives of the three distinct constituencies: the business community, faculty, and students and (b) what are the infrastructural factors that a business school can focus on to increase the level of effectiveness as perceived by each of the three groups? In an empirical examination of 20 U.S. business schools, it was found that students' perceptions of effectiveness of their institutions were divergent from the assessments of effectiveness provided by faculty and the business community. MBA program level factors such as diversity of student body and acceptance rate were found to significantly influence the satisfaction of the student community. Faculty seemed to be more concerned about business school characteristics such as class size and faculty-student ratios. However, the findings relating to the business community were less clear.