This study surveyed faculty at the top business schools based on rankings in "Business Week" and "U.S. News and World Report" concerning their views on the "Business Week" rankings of business schools. The study used e-mail surveys which queried: (1) what level of satisfaction the faculty had with their school's current ranking; (2) whether the ranking had affected the institution's fiscal resources, student applications, or faculty recruitment; (3) whether rankings affected faculty research; and (4) how rankings affected teaching. The 734 usable responses were evaluated using both descriptive and multivariate analyses. Findings indicate that the rankings were important to respondents with 70 percent reporting that their school would like to improve its current ranking. However, faculty were unsure as to whether fiscal resources or faculty recruitment were affected by rankings. Differences in responses were also found according to faculty rank, sex, and school rank. Analysis of responses to an open-ended question identified four themes: less rigorous coursework as a result of feeling pressured to keep students satisfied; a resource shift away from PhD programs to Master's programs; a belief that the ranking methodology was flawed; and support for "Business Week" rankings. The questionnaire is appended as are tables analyzing responses. (Contains 57 references.) (DB)