EIU MBA League Table - Top 20 List

In 2008, the Economist Intelligence Unit (EIU) released its prestigious rankings of the world’s top 20 full-time MBA programs, which brought significant attention to the shifts in the global business education landscape. A striking development that year was the rise of IMD (International Institute for Management Development) of Switzerland, which moved up to the number one spot, climbing from fifth place the previous year. This ascent marked a major achievement for IMD and highlighted its ability to adapt to evolving demands in global business education. IMD’s newfound position at the top of the rankings was closely followed by IESE Business School of Spain in second place, with the University of Chicago’s Graduate School of Business (now the Booth School of Business) in third, and Stanford Graduate School of Business in fourth.

IMD

IMD’s leap to the top of the MBA rankings in 2008 was remarkable, considering the school’s previously modest position in the rankings. The Swiss institution, known for its intense, hands-on approach to management education, had long been recognized for producing leaders in international business, but it had typically been overshadowed by larger, more established institutions in the United States and the United Kingdom. However, in 2008, IMD’s focus on providing a highly personalized, globally oriented MBA program, combined with its emphasis on leadership, innovation, and entrepreneurship, was particularly well-received by employers and students alike. IMD’s rise in the rankings can be attributed to several key factors, including its small cohort size, the personalized attention each student received, and the emphasis on global leadership, particularly in high-level executive roles.

IMD’s MBA program offered a rigorous and highly immersive educational experience, with an emphasis on practical learning. Students were expected to engage directly with real-world business challenges through consulting projects, leadership development programs, and international exposure. These hands-on experiences gave IMD graduates an edge in the global job market, as they were not only exposed to cutting-edge business theory but also required to implement that knowledge in real-world scenarios. This applied learning was particularly attractive to employers, who sought candidates capable of navigating complex global markets with strong leadership and strategic decision-making skills.

Moreover, IMD’s relatively small class size fostered a collaborative, highly interactive environment where students could develop close relationships with peers, professors, and industry leaders. This tight-knit community allowed for more personalized instruction and tailored career advice, enhancing the overall educational experience. The school's strong connections with multinational corporations and its location in the heart of Europe also provided students with access to a wide array of career opportunities across industries, particularly in consulting, finance, and technology. IMD’s ability to blend academic rigor with practical experience contributed to its rapid rise in the rankings, making it a clear contender for the number one spot.

IESE Business School

IESE Business School, ranked second in the 2008 EIU MBA rankings, was another standout institution that continued to prove its mettle on the global stage. Located in Barcelona, Spain, IESE had long been known for its strong international focus, ethical leadership curriculum, and diverse student body. IESE’s MBA program was structured to prepare students for leadership roles in global organizations, with a particular emphasis on values-driven decision-making and ethical business practices. The school’s approach to business education was grounded in the belief that business leaders should not only excel in the technical aspects of management but also possess the integrity, social awareness, and leadership qualities necessary to navigate the complexities of today’s business world.

The program offered a rigorous, case-based curriculum that emphasized experiential learning and practical application of business theories. IESE was also renowned for its global reach, with campuses in Barcelona, Madrid, New York, São Paulo, and Munich. This global network allowed students to gain valuable international exposure through study trips, internships, and exchanges with top business schools around the world. The international dimension of IESE’s MBA program was further reinforced by its highly diverse student body, which was composed of individuals from over 40 different countries. This diversity enhanced the learning environment, enabling students to learn from each other’s experiences and perspectives, while also providing a global network that would serve them throughout their careers.

Another major strength of IESE’s MBA program was its strong emphasis on leadership development. The school’s leadership curriculum focused on developing personal effectiveness, interpersonal skills, and strategic vision, helping students to become ethical and socially responsible leaders. The school’s leadership programs, combined with its rigorous academic training, contributed to its high rankings in 2008 and its continued success in shaping global business leaders.

The University of Chicago Booth School of Business

The University of Chicago’s Graduate School of Business, now known as the Booth School of Business, was ranked third in the 2008 EIU MBA rankings, a slight slip from its position as the top-ranked school in 2007. Despite this small decline, Chicago Booth remained one of the most prestigious and influential business schools in the world. Known for its analytical approach to business education, Chicago Booth focused on providing students with the tools to think critically, make data-driven decisions, and develop a deep understanding of business strategy and economics.

Chicago Booth’s MBA program was particularly valued for its flexible curriculum, which allowed students to tailor their education to suit their specific career goals. This flexibility was complemented by the school’s world-class faculty, many of whom were leaders in their fields of research, and its strong emphasis on quantitative skills, economics, and finance. The school’s analytical approach, coupled with its commitment to intellectual rigor, made it particularly attractive to students seeking careers in finance, consulting, and other data-driven industries.

Chicago Booth’s global reputation for excellence was also supported by its strong alumni network, which included influential business leaders and innovators across industries. The school’s extensive network provided students with access to career opportunities in top organizations worldwide, making it an attractive choice for ambitious candidates seeking to make a significant impact in the business world.

Stanford Graduate School of Business

Stanford Graduate School of Business, ranked fourth in 2008, had long been considered one of the world’s leading business schools, and its position in the top five reflected its consistent excellence. Stanford’s MBA program was renowned for its focus on entrepreneurship, innovation, and leadership development, with a particular emphasis on preparing students to lead in fast-paced, dynamic industries. The school’s proximity to Silicon Valley, the global hub of innovation and entrepreneurship, provided students with unparalleled access to a network of entrepreneurs, venture capitalists, and industry leaders.

Stanford’s MBA program was known for its rigorous academic curriculum, its emphasis on collaborative learning, and its strong culture of innovation. The program’s flexible structure allowed students to explore a wide range of interests, from finance and marketing to social entrepreneurship and technology management. Additionally, Stanford’s commitment to fostering ethical leadership and responsible decision-making ensured that its graduates were equipped to lead with integrity and contribute positively to society.

2008 Ranking of World Top 20 Full-time MBA programs by Economist Intelligence Unit (EIU):

Rank (2007 position in brackets), School, Country
1 (5) IMD - International Institute for Management Development Switzerland
2 (3) IESE Business School—University of Navarra Spain
3 (1) Uni of Chicago—Graduate School of Business US
4 (2) Stanford Graduate School of Business US
5 (4) Dartmouth College—Tuck School of Business US
6 (6) Univ of California at Berkeley—Haas School of Business US
7 (7) Univ of Cambridge—Judge Business School UK
8 (8) New York Univ—Leonard N Stern School of Business US
9 (15) London Business School UK
10 (9) IE Business School Spain
11 (20) Hong Kong Univ of Science and Technology—School of Business and Management Hong Kong
12 (13) Harvard Business School US
13 (11) Cranfield School of Management UK
14 (22) Vlerick Leuven Gent Management School Belgium
15 (24) York Univ—Schulich School of Business Canada
16 (14) Northwestern Uni—Kellogg School of Management US
17 (21) Uni of Pennsylvania—Wharton School US
18 (16) Massachusetts Institute of Technology—MIT Sloan School of Management US
19 (17) INSEAD France/Singapore
20 (10) Henley Business School UK

Source: EIU 2008