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With all due credit
It is over 100 years since the founding in 1916 of the Association to Advance Collegiate Schools of Business (AACSB) in the US, which launched the first formal audit of business schools in 1919. Closer to home, the London-based Association of MBAs (AMBA) celebrated its 50th anniversary in 2017, which also marked 20 years of EQUIS, from Brussels-based European Foundation for Management Development (EFMD) Quality Improvement System. With an initial outlay of £100K+, triple accreditation – the holy grail – requires approval from all three of these international associations, widely regarded as the largest and most influential. Last year, AMBA’s accreditations reached a record high of 241 (up 22% in the past five years), while AACSB has amassed 799 accredited business schools in 53 countries and territories, most recently in Azerbaijan, Palestine, Kyrgyzstan, Liberia and Uganda. So, why does it matter?
A graduate premium: Recognised worldwide by employers, accreditation provides an assurance that students learn the most appropriate material and gain relevant, up-to-date skills. The highest graduate salaries, evidenced in all the main league tables, are achieved by those who attend the ‘best’ business schools. 20% of business school deans* surveyed by AACSB are aware of companies that only recruit from AACSB-accredited programmes.
*Based on responses from deans at 305 AACSB-accredited and in-process institutions from Asia, Europe, North America, South America, and Oceania How we can support your Business School