What started as the rating and ranking of 14 business schools in 2013 as the National-Business Schools Rating-Ranking-Awards has now become the most esteemed awards ceremony in the education fraternity of Nepal. The NewBiz B-schools Rating-Ranking Awards has earned recognition as an impartial and biased-free programme and a prominent platform where educators, members of academia, business leaders, top professionals from the private sector and eminent government officials come together to discuss about enhancing the quality of management education and celebrate the excellence in education achieved by Nepali B-schools. This enthusiasm of the participants was displayed in the 4th NewBiz B-schools Rating-Ranking-Awards 2018 held at Radisson Hotel on June 22. The growing esteem of the event was highlighted by the fact that many participating colleges receiving the accolades expressed that they have been trying their best to maintain their rating-ranking status. Speaking on the occasion, chief guest of the ceremony, Khaga Raj Baral, secretary (Education), Ministry of Education, Science and Technology also suggested the colleges to give their all to come out as the best in next year’s event. “Rating-ranking of institutions is not a big thing, but maintaining the status in a sustainable manner is a bigger deal,” he said. 

The first two editions of NewBiz B-schools Rating-Ranking-Awards were held successfully in 2013 and 2014 respectively. However, the unfortunate twin shocks of the earthquake and border blockade in 2015 cancelled this important event in 2015 and 2016 respectively. In 2017, New Business Age Pvt Ltd, the organiser of the NewBiz B-schools Rating-Ranking-Awards, geared up its efforts to continue the programme and improve it. With each passing year, this event has become bigger and better. The latest edition was different from previous editions. This year saw 37 colleges from across Nepal honoured for their excellence. In line with the country’s federal system, the 4th NewBiz Rating-Ranking-Awards 2018 also honoured the colleges in provincial levels. The selection process for the awards started with a list of 1,274 colleges. Among the educational institutions, the top 10 colleges each in the categories of BHM, BBA, BBS, MBS and MBA have been honoured with certificates. Of the colleges, six were awarded with trophies and certificates. Similarly, six top colleges from all provinces, except Province 3, and six top public colleges from across the country were honoured with certificates and trophies.  “Organising the 4th NewBiz Rating-Ranking-Awards 2018 is the result of the collective effort of 25 professionals working in Kathmandu and outside the capital valley. They have spent one year in studying and evaluating the colleges,” said Madan Lamsal, chairman and editor-in-chief New Business Age and Aarthik Abhiyan National Daily in his welcome speech during the awards function.

The programme has created a platform where representatives from the country’s management, education and corporate sectors can converge and interact to share their experiences and discuss the difficulties and their needs in terms of producing and recruiting the much needed skilled human resource. Satish Kumar More, senior vice president, Confederation of Nepalese Industries (CNI) was relieved that the workforce needed in the industrial sector can be sourced from the best B-schools of Nepal. “The event has given a message that there are quality educational institutions in the country at a time when Nepali students are flying abroad to pursue their higher studies,” he said. 

At present, a gap seems to exist between the job market and the education sector. Employers argue that the human resource being produced by the colleges do not meet their expectations, while educational institutions insist that they have been putting all their efforts into providing quality education to produce skilled workforce. NewBiz B-schools Rating-Ranking-Awards has been effectively playing the role to identify and narrow the gaps by bringing the stakeholders together for communication and cooperation. Sunil KC, CEO, NMB Bank found the programme to be very important and interesting. “This type of programme can be beneficial for both banks and financial institutions (BFIs) and management colleges to come together and discuss about the production of required human resource,” he said. Lata Sharma, director, Sharma & Company shared similar views. “This programme delivers a platform for business houses and B-schools to come together and interact for positive outcomes,” she mentioned.

The reputed individuals who attended the awards ceremony as guests praised the event and enthusiastically expressed their views about its effectiveness. “Being free of controversies and being able to enter into its fifth year, this important programme is indeed a matter of pride for the organisers,” noted Dr Rewat Bahadur Karki, chairman, Securities Board of Nepal (SEBON), the securities market regulator.