Discussion about this post

User's avatar
stevesailer's avatar

Wealthy Washington U. of St. Louis was following that strategy when I was applying to college in the 1970s. It seems to have helped its reputation over the last generation. Of course, it's not a newcomer: it was founded by T.S. Eliot's grandfather.

Expand full comment
anonyxmousse's avatar

Barring a strategic misstep by the top player, the order of a hierarchy of this type seems very hard to change. This is because the organization's primary asset is reputation, held in the collective minds of all potential customers. How long have Harvard, Yale, and Princeton held their positions at the top of the university hierarchy? Decades at least. The same dynamic is observed in elite law firms., investment banks, elite advertising firms, elite preperatory schools, etc. Any brand whose primary value is in its reputation is incredibly hard to unseat, again barring a strategic misstep (damaging the brand and creating space for a competitor) or a change in the underlying situation. If the overall market grows, there is room for more players near the top, see Stanford for example as rising to near Harvard levels of reputation yet without diminishing Harvard's rep. If the the overall market shrinks, as it did for banks and elite law firms in the recent financial recession, players may exit / get acquired (see Lehman, Merril Lynch), or downsize out of elite status (several law firms). There has always been an element of the "the best wants to associate with the best", "A"-level players don't work for "C" level players" (Jack Welch). However for large organizations, reputation is how most people keep mental track of the rankings, which is all that matters.

Expand full comment
21 more comments...

No posts