With eminent management institutions in different corners of the country, it is essential to check the quality of a business school before enrolling in one. A reputed management institution is one which delivers an exceptional exposure, curriculum knowledge and overall efficient experience to the future aspirants.
Moreover, with a change in the general workforce pattern of the corporate industry and the hunt for better practical approaches have pushed management authorities to adopt reformed strategies and deliver the best to their students.
However, accreditation from a prominent and reputable institution is a great way to learn about the quality of a management institution or any b-school.
Several accreditation centres develop a standard guideline for business schools. This is done to keep a check on overall activities related to the management school’s teaching facilities, administration and faculty blocks, exposure and services, current students and graduates and other such aspects.
The evaluation carried out by the accreditation organisations help in attaining an insightful view about how an institution works and the quality of learning and exposure it delivers to the students.
Since an MBA is an investment, therefore it is necessary to learn about the place where the money is kept at stake. Moreover, it also helps in knowing whether the investment would deliver fruitful results or not.
The three most-acclaimed and coveted accreditation organisations for MBA institutions are AACSB (Association of Advance Collegiate Schools of Business), AMBA (Association of MBAs) and EQUIS (EFMD Quality Improvement System).
These organisations award accreditation to numerous institutions providing a management degree to the aspirants. However, there are several other domestic and internationally acclaimed accreditation centres which award several institutions as well. Therefore, it is necessary to learn about the accreditation organisation that focuses on your preferred college.
In the year 2019, a list consisting of about 90 business schools from different corners of the world was released by the three international accreditation centres- the AMBA, AACSB and the EQUIS. This association is often referred to as the “triple crown”.
The methodologies and the key aim of these accreditation organisations are described below. However, it is recommended that an individual must learn about the accreditation organisation, which focuses on his preferred management institution.
- AMBA – Association of MBAs
AMBA has successfully accredited several MBA programs in around 70 countries of the world. The London- based organisation has been accrediting management programs since the year 1980s.
Moreover, in the year 2019, about 50 per cent of the MBA institutional programs and other business schools accredited by AMBA were located in the United Kingdoms and Europe.
Also, the organisation has successfully accredited 30 per cent of MBA programs in Latin America and Asia. 2 per cent of the total MBA programs in North America are accredited by AMBA.
AMBA awards accreditation to other programs like the Doctor of Business Administration (DBA) and Master of Business and Management (MBM) in several countries.
The organisation evaluates an institution on the basis of the quality of business strategies implemented, the mission of the organisation, curriculum, exposure, faculties and the assessment process.
AMBA has set up standard guidelines for institutions, and the evaluation is carried out on the basis of guidelines. For instance, according to the AMBA guidelines, a student admitted to an accredited management institution must possess east a three-year work experience.
Moreover, three-quarters of the institution’s faculty must possess a masters or doctoral degree in a relevant specialised field.
- EQUIS- EFMD Quality Improvement System
EQUIS is managed by the Brussels- based EFMB management development network. The European Quality Improvement System or the EQUIS offers accreditations certificates and evaluates institutions offering undergraduate, graduate and doctoral programs.
The organisation evaluates on the basis of certain parameters like administration board, management authorities, faculty, students, ongoing researches, resources and services, community contribution and other aspects.
The evaluation is also carried out on the basis of international connection, corporate network, executive education and exposure sources to students.
EQUIS has successfully accredited about 180 business schools based out in the United Kingdoms and around 15 business management schools located in the United Schools. However, the organisation awards accreditation to other management institutions based out in France and China.
- AACSB- Association of Advance Collegiate Schools of Business
AACSB is the United States and Singapore based organisation which evaluates and awards different management institutions across the globe. It mainly evaluates and focuses on institutions offering distinct graduate and undergraduate programs to prominent students.
This organisation came into existence in the year 1919, and since then it accredited innumerable institutions on the basis of guidelines and other prominent parameters.
Till day, the organisation has successfully covered various management schools located in 51 distinct countries. Moreover, the organisation began accrediting several accounting programs as well since the year 1980.
The AACSB evaluation is done on the basis of distinct factors and the organisation’s key aim. The organisation represents an evaluation focusing on the key aim of –school’ moto and mission, operations of the authorities, qualification and experience of the teaching faculties, their contribution, planned programs, exposure resources, learning pathways, strategies and other crucial factors.
The evaluation is carried out every five years, and new reports are released effectively. This ensures the evaluating organisation does not miss out any detail and releases an efficient report. This, in turn, helps students to know which institution would offer a better experience.
As per the 2019 reports, the AACSB has successfully awarded accreditation certificates to up to 800 institutions focusing on management and other graduate and post-graduate programs. These 800 educational institutes cover around 75 per cent of the total institutes based out in the United States.
Apart from this, the organisation has also offered accreditation awards to educational institutes based out in countries like Canada, France and Great Britain.
The AASCB, EQUIS and the AMBA are the internationally acclaimed accreditation centres and hole key importance. The reports provide an insightful view of how an organisation works. This information is of great help to enrolling students who wish to know about their preferred colleges and whether the institution would be able to fulfil their requirements or not.
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Source: Find MBA.