If hotels have their stars, business schools have their palmes, handed out by Eduniversal, a global higher education ranking agency based in Paris, France. It has developed an evaluation system that classifies what it considers the world's 1,000 best business schools in 154 countries into five categories.
The top category, the 5 Palmes of Excellence, is given to schools considered "universal business school with strong global influence". Examples include Harvard Business School, Yale School of Management and the MIT Sloan School of Management. The lowest category, 1 Palme of Excellence, is awarded to a "business school with considerable local influence."
Eduniversal's latest rankings for 2016 included six business schools in the Philippines. These were led by the Asian Institute of Management, one of Asia's first graduate business schools, which was awarded 4 Palmes, signifying it was considered a "top business school with significant international influence." (See infographic for the names of the other five business schools in the list.)
Each year, Eduniversal selects the best 1,000 business schools worldwide. An 11-member International Scientific Committee, composed of two Eduniversal executives and nine independent higher education experts, classifies the schools into any of the five categories of excellence. The committee considers the extent of the schools' "internationalization" by examining their accreditations, major rankings and memberships in academic associations.
After all of the business schools have been divided into the five categories, the deans of the 1,000 business schools are then asked to rate the other schools by listing what they thought are the best business schools in each of countries covered by the rankings.
Pauline Macaraeg is Entrepreneur PH's data journalist. Follow her on Twitter @paulinemacaraeg