Tomorrow’s business education—today
Which business accreditation is right for your institution?
A comparison of AACSB, AMBA, and EQUIS standards
GLOBALIS
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Which business accreditation is right for your institution?
Copyright 2014, GLOBALISED. All rights reserved.
GLOBALIS
ED
Tomorrow’s business education—today
January 2014
Dear Colleague,
The single most important asset of any college or university is accreditation.
Accreditation signifies quality. It impacts the ability of an institution to recruit outstanding
students, stellar faculty, and exceptional administrators. It also impacts its ability to ascend
the college rankings, increase enrollments, generate revenues, and attract capital.
In business education, three accreditations matter most:
• Association to Advance Collegiate Schools of Business (“AACSB”)
• Association of MBAs (“AMBA”)
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Though embracing similar values, each accreditation adopts a different approach to
management education. In addition, each accreditation has a peculiar focus and emphasis.
AACSB, for example, focuses on continuous quality improvement through innovation,
engagement, and impact. Toward advancing this goal, it places great weight on a school’s
mission, faculty profile, and assessment of learning process.
AMBA focuses on high quality programmes that reflect changing trends and innovation in
postgraduate management education. Unlike the other two accreditation bodies, it
emphasizes programme management, mode and duration, and the profile and quality of a
school’s student body.
EQUIS focuses on ethics, responsibility, and sustainability, corporate connections, and
internationalisation. In contrast to AACSB and AMBA, it has set forth major standards
devoted exclusively to the latter two topics.
Whereas AMBA accreditation is programme-specific, AACSB and EQUIS are institutional in
scope. Whilst all three accreditations emphasize scholarship, AACSB and EQUIS elaborate
on “acceptable categories of scholarship.” Of all business accreditations, AACSB is most
concerned with faculty credentials; AMBA, with student quality; and EQUIS, with
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internationalisation. All three accreditations address the following core issues, albeit in
different ways and with different emphasis:
• Curriculum and programmes
• Ethics, responsibility, sustainability
• Faculty development and management
• Faculty sufficiency and quality
• Financial and other resources
• Institutional characteristics
• Institutional mission
• Learning assessment
• Learning equivalency
• Learning outcomes
• Planning and strategy
• Policies, processes, and procedures
• Programme management and services
• Programme mode and duration
• Programme specifications
• Scholarship policy
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This document elaborates on these similarities and differences. It presents a comparative
analysis of AACSB, AMBA, and EQUIS accreditation processes and standards, with
particular emphasis on the above core issues. Its purpose is to serve as a useful guide to
current and prospective clients on matters that could impact their accreditation status.
Through professional engagement, GLOBALIS
ED
can provide additional
information and advice that can steward you through the accreditation process.
Two final notes. First, the analysis that follows is based exclusively on the following
sources:
• AACSB:
o 2013 Business Accreditation Standards
o AACSB International Policies on Accreditation Processes, Actions and Time
Frames
• AMBA:
o MBA Accreditation Guidelines and Criteria
o AMBA Accreditation Guidance for Business Schools, May 2013
• EQUIS:
o EQUIS Standards and Criteria, January 2013
o The EQUIS Process Manual, January 2013
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Beyond these sources, each association has issued guidelines for other types of
accreditation (e.g., accounting, DBA programs). They have also published documents that
elaborate on, and interpret the foregoing references. This approach is intended to highlight
criteria to which all three accreditation bodies attach similar weight and relevance. Doing so
will invariably enhance the comparability of the analytical results.
Second, in conducting this comparative analysis, we express no preference for one type of
business accreditation over another. Nor do we recommend a particular type as being more
advantageous or beneficial. Each set of accreditation standards must be evaluated in terms
of their own stated purpose and objectives. Each must be also be evaluated in terms of the
peculiar purpose, profile, and objectives of the educational institution.
The professionals at GLOBALIS
ED
are both knowledgeable and
experienced in business accreditation. If we can help your institution enhance the value of
its single most important asset, please let us know, and we would be happy to arrange a
meeting or conference call.
Respectfully,
GLOBALIS
ED:
Which business accreditation is right for your institution?
Copyright 2014, GLOBALISED. All rights reserved.
I. Business Accreditation Process
Depending on the type of business accreditation pursued, the process for applying for initial
business accreditation generally takes 2 to 5 years. Each accreditation association has its
own application procedure. Each has its own prerequisites, basic requirements, time frame,
and review process. Despite these differences, what they all have in common are the
following features:
• Eligibility determination
• Self-assessment
• Peer review
• Site visit
• Appeals process
The pages that follow summarise the AACSB, AMBA, and EQUIS processes for initial
business accreditation. Once accredited, an institution must adhere to the relevant
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•Applicant submits eligibility
application.
•If application is in order, staff refers
it to Initial Accreditation Committee
("IAC").
•IAC reviews application and either
•Accepts it
•Mentor appointed. Proceed to
Standards Alignment
•Rejects it
•Applicant may resubmit after a
year
•Proposes revision
•Applicant may resubmit after
specific time
1. Eligibility Review
•Applicant has 2 years to prepare
Standards Alignment Plan.
•With mentor input, IAC reviews plan
and either
•Accepts it. Proceed to Plan
Implementation
•Rejects it. Options:
•Voluntary withdrawal: Applicant
may resubmit after a year
• Involuntary withdrawal:
Applicant must wait 5 years
•Proposes revision
•Applicant must address concerns
and resubmit
2. Standards Alignment
•Applicant has 3 years to implement
plan and submit progress reports
•If reports accepted, IAC may either
•Invite school to apply for initial
accreditation. Proceed to
Self-Evaluation.
•Ask school to continue
implementation
•If reports rejected, IAC may advise
•Revise and resubmit
•Voluntary withdrawal: Applicant
may resubmit after a year
•Involuntary withdrawal: Applicant
must wait 5 years
3. Plan Implementation
AACSB Accreditation Process I
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•Applicant has 2 years to prepare
Self-Evaluation Report ("SER").
•Peer review team reviews SER and
recommends either
•Proceed with team visit , or
•Do not proceed with team visit
•Applicant may address deficiencies
and appeal
•Voluntary withdrawal: Applicant
may resubmit after a year
•Involuntary withdrawal: Applicant
must wait 5 years
4. Self-Evaluation
•Peer review team conducts campus
visit; based on review, may
recommend either
•Grant accreditation
•Defer accreditation
•Applicant has a year to address
deficiencies
•Deny accreditation
•Applicant must address
deficiencies and may appeal
•Recommendation ratified by
•IAC
•Board of Directors
5. Peer Review
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• Applicant submits
letter of intent and
application form to
AMBA Accreditation
Manager.
• Following
satisfactory review,
Applicant invited to
be a candidate for
accreditation.
Proceed to
Pre-Assessment Stage.
1. Initial Stage
• Applicant prepares
and submits
Self-Assessment Form
("SAF").
• Following
satisfactory review
and possible
pre-assessment visit,
Eligibility
Committee confirms
eligibility and
allows Applicant to
proceed to
Assessment.
2. Pre-Assessment
• At least 9 weeks
following
confirmation,
Applicant submits
Self-Audit Report
for review by Peer
Assessment Panel.
• At least 12 weeks
following
confirmation, panel
conducts
accreditation visit..
Proceed to
Post-Assessment.
3. Assessment
• Within 6 weeks
following visit,
panel issues final
report, with
recommendation:
• Grant
accreditation:
• 3-year
• 5-year
• Defer
accreditation
• Deny
accreditation
• Endorsement
Committee reviews
report and
endorses (rejects)
recommendation.
• Applicant may
appeal decision
within 2 weeks of
receiving report.
4. Post-Assessment
AMBA Accreditation Process
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• EQUIS official
provides to
Applicant
preliminary advice
on process and
prospects.
1. Enquiry
• Applicant prepares
and submits formal
application and
datasheet.
2. Application
• Within 2.5 months
of submission,
EQUIS expert
conducts eligibility
briefing visit.
• EQUIS criteria
explained
• Preliminary
assessment made
• Key issues
identified
• Expert submits
briefing report with
recommendation to
EQUIS Committee
3. Briefing
• After 3 months of
submission, EQUIS
Committee decides
eligibility.
• If eligible,
Applicant
proceeds to
Self-Evaluation.
• If ineligible,
Applicant
• May appeal
• Must wait 2
years before
reapplying
4. Eligibility
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• Within 2 years of decision,
Applicant prepares and
submits Self-Assessment
Report.
5. Self-Assessment
• After 6 weeks of
submission, Peer Review
Team conducts school visit.
• Team submits Peer Review
Report to EQUIS Awarding
Body with
recommendation:
• Grant accreditation
• 3-year
• 5-year
• Deny accredit
ation
6. Peer Review
• At least 10 weeks after
visit, EQUIS Awarding
Body acts on Peer
Review Team
recommendation.
7. Determination
EQUIS Accreditation Process II
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GLOBALIS
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was founded by Richard J. Joseph to help
•
Colleges and universities get accredited
•
US business schools
o
Develop international programs, and
o
Enter non-US markets
•
Non-US business schools
o
Develop American programs, and
o
Enter the US market
•
Corporations develop skills-based programs to train their managers
•
Government agencies establish American-model schools that cater to the education needs of their citizens
As a business school accreditor and former Dean and Provost of Hult International Business School with over 25 years’ higher
education experience, Mr. Joseph realized that without expert advice and assistance, the colleges and universities of today will
struggle to meet the growing demand for a quality American education fueled by the forces of globalization.
A graduate of Harvard, Oxford, and The University of Texas School of Law, Mr. Joseph played a major role in transforming a small
Boston-based management program into the seventh largest business school in the world, ranked #1 for international
experience by the Financial Times.
1
In this role, he helped set up branch campuses in China, the Middle East, Europe, and North
America; developed seven new degree programs, and successfully led his institution through nine accreditation reviews.
Before entering academia, Mr. Joseph served as an investment banker at Lehman Brothers, Bear Stearns, and Becker Paribas,
and a mergers and acquisitions specialist for the Bass Group. He is co-editor of the Handbook of Mergers and Acquisitions (Oxford
University Press), co-author of Prentice Hall’s Federal Taxation (Pearson), and author of The Origins of the American Income Tax
(Syracuse University Press).
1
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AACSB
AMBA
EQUIS
2013 Business Accreditation Standards MBA Accreditation Guidelines and Criteria EQUIS Standards and Criteria, January 2013
Continuous quality improvement through innovation, engagement, and impact
Programmes of the highest standards that reflect changing trends and innovation in postgraduate management
education
Internationalisation; corporate connections; ethics, responsibility, and sustainability
Institutional Programme-specific Institutional
Pre-accreditation application: US$1,000; pre-accreditation (business program): US$4,500; initial business
accreditation application: US$12,000
Application: £2,000; registration and pre-assessment:
£5,000; assessment visit: £15,000 Application: €9,375; review: €15,625; 3-year accreditation: €9,375; 5-year accreditation: €15,625
(AACSB does not have a standard devoted exclusively to corporate relations.)
Institution should have a clear and effective policy regarding relations with the organisational and managerial world. Results from research, consultancy, and contact with the corporate world should be incorporated in the programme.
School should have a policy and strategy for corporate connections. It should develop students with a practical understanding of business/management through corporate interaction. Corporate input should be a key feature of the school's activities.
ACCREDITATION STANDARDS REFERENCE
ACCREDITATION FOCUS
ACCREDITATION SCOPE
APPLICATION AND OTHER FEES
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AACSB
AMBA
EQUIS
Degree-granting entity or independent academic unit, that offers business /management education programs. AACSB member. Commitment to core values of (1) ethical behaviour, (2) collegiate environment, (3) corporate and social responsibility.
Autonomous degree-awarding institution that (1) offers MBA (and other post-graduate management) programmes, (2) has graduated at least 3 MBA classes, (3) has met most AMBA criteria for at least 3 years
Institution must have (1) degree-awarding powers, (2) appropriate higher education mission, (3) business/ management education focus, (4) autonomy in academic affairs, (5) clear institutional boundaries, (6) academic staff in key disciplines, (7) graduated at least 3 classes, (8) operated for 10+ years, (9) institutional stability, (10) national standing, (11) international reputation, (12) broad portfolio of activities, (13) sufficient core faculty.
The school must encourage and support ethical behaviour by students, faculty, administrators, and professional staff, and must demonstrate commitment to corporate social responsibility issues.
Students should acquire a significant understanding of the impact of sustainability, ethics, and risk management on business decisions and performance.
School should understand its role as a "globally responsible citizen." Its contribution to ethics and sustainability should be reflected in activities relating to education, research, interaction with business, community outreach, and internal operations. Responsible and ethical behaviour should be an integral part of the school's values and strategy.
If offered, executive education should complement degree program teaching and intellectual contributions; institution should have processes to ensure high quality and continuous improvement.
(AMBA does not have a standard devoted exclusively to executive education.)
If offered, executive education, should be (1) integrated into school's strategy and management systems, (2) viewed as central to strengthening connections with companies/ organisations, (3) contribute to faculty development and teaching/research relevancy, (4) improve business practice by placing school's expertise at the disposal of practising managers.
Institution must have processes to (1) manage and support faculty over their careers, and (2) enhance teaching effectiveness. Such processes must be consistent with school's mission, outcomes, strategies.
Institution should have a well-founded faculty
development policy and should ensure faculty collegiality, availability, integration, and quality assurance.
School should recruit, develop, and manage faculty according to its strategic objectives. Faculty should be involved in current management practice through research and consultancy with corporate partners. Processes should be in place for faculty recruitment, deployment, evaluation, and development.
Four faculty categories: (1) Scholarly Academics - SA, (2) Practice Academics - PA, (3) Scholarly Practitioners - SP, (4) Instructional Practitioners - IP. 90%+ must be SA, PA, SP, IP. 40%+ must be SA. 60%+ must be SA, PA, SP. In addition, school's blend of SA, PA, SP, IP must be consistent with its mission, outcomes, strategy.
(AMBA does not have a standard devoted exclusively to faculty profile.)
The prescribed faculty profile will depend on the mix of the school's activities. The overall profile should qualify the faculty to operate adequately in the international arena. ELIGIBILITY REQUIREMENTS ETHICS, RESPONSIBILITY, SUSTAINABILITY EXECUTIVE EDUCATION FA C U LT Y DEVELOPMENT AND MANAGEMENT PROFILE
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AACSB
AMBA
EQUIS
Faculty should be (1) qualified across programmes, disciplines, locations, delivery modes; (2) sufficient to ensure programme outcomes; fulfill functions of curriculum development, course development, course delivery, assurance of learning; and achieve mission, and (3) academically and professionally engaged to sustain intellectual capital. Participating faculty should be 75%+ of total (60%+by discipline, location, delivery mode, program).
MBA faculty should be sufficient to fully resource the programme. At least 75% of teaching staff should have relevant post-graduate degree(s); the majority, a doctorate. Faculty should be aware of current business practice and management debates.
School should have an academic staff for whom it is the principal employer and whose main allegiance is to the school; a sufficient core faculty to cover major disciplines and constitute a viable body of distinctive expertise. At least 25 members.
Institution should have adequate financial resources for infrastructure, student services, academic advising, career development, faculty development; and technological, instructional, and scholarship support.
Institution should be financially viable. Level of resourcing should be appropriate for post-graduate, post-experience students.
School should demonstrate financial viability and institutional continuity. Its resources should be sufficient to support a high quality learning environment. Its physical facilities should be sufficient to support the particular pedagogical approach of each programme.
School must be authorized to award bachelor's (or higher) degrees in business or management education, or a business academic unit within a larger degree-awarding institution. It should be (1) sufficiently independent in branding, market perception, financial management, and decision-making; (2) structured to ensure proper oversight, accountability, and responsibility; (3) supported by continuing resources; and (3) have continuous improvement policies and processes.
Institution should have an appropriate mission, credible and coherent strategy, policies for governance, continuous improvement, and external relations, market legitimacy, financial viability, institutional continuity, discrete identity, decision-making autonomy, effective integrated
organisation, and sense of the market.
School should have reasonable autonomy in setting its strategic agenda and in managing its budget, its own dedicated teaching and administrative staff, an effective and integrated organisation for the management of its activities based on appropriate processes, with a significant degree of control over its own destiny.
(AACSB does not have a standard devoted exclusively to internationalisation.)
MBA programme should have an international dimension and foster an understanding of diverse cultural and regional management styles/practices.
School should have (1) policies and strategies for internationalisation, (2) be committed to educating students for management in an international environment, (3) actively collaborate with international partner institutions, (4) attract students and faculty from other countries, and (5) conduct research of international relevance and scope. It should offer programmes that provide an internationally oriented education with sufficient outreach beyond its own borders.
Institution should have processes for (1) determining and revising learning goals; (2) designing, delivering, and improving curricula to achieve such goals; and (3) demonstrating that these goals have been met. Faculty and other stakeholders should be involved in these processes.
Institution should have mechanisms for eliciting and responding to student feedback on course delivery and programme content. Assessment schemes should (1) test the degree to which (a) students achieved learning objectives, and (b) the programme added value to their careers; (2) elicit input from alumni, employers, sponsors; (3) provide feedback to students; and (4) assist in individual and group learning. Employers should contribute to programme development.
School should have rigorous assessment processes for monitoring the quality of students' work. Programmes should be regularly evaluated through feedback from students and other stakeholders.
ASSESSMENT SUFFICIENCY AND
QUALITY
FINANCIAL AND OTHER RESOURCES
INSTITUTIONAL FEATURES
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AACSB
AMBA
EQUIS
Institutions offering the same programme through
different modes must ensure learning equivalency. Institutions offering the same programme through different modes must ensure learning equivalency.
School should have formal mechanisms for quality assurance, consistent with standards set by external bodies. It should provide evidence of learning equivalency.
Learning goals should comport with institution's mission, outcomes, and strategy, and reflect currency of knowledge and stakeholder expectations. General management and specialist degree programs at the bachelor's, master's, and doctoral levels should facilitate learning experiences that address certain skill areas.
MBA should enhance prior experience; prepare students for leadership roles; impart strategic, innovation,
entrepreneurial, and "soft" skills; foster an understanding of global business issues; enhance the ability to resolve complex issues; convey knowledge of organisations, their management and environment, responsible risk
management, sustained value creation; encourage life-long learning and personal development. Programme should have clearly stated learning outcomes relating to business/ management.
Programmes should have clearly stated objectives and learning outcomes, including the development of intellectual skills, key managerial skills, skills relevant to international management; ethical values, personal and professional qualities.
Institution must have (1) clear and distinctive mission, (2) outcomes consistent with mission, and (3) strategies for achieving mission. It must also be committed to continuous improvement and innovation.
Institution must have appropriate mission that reflects key strengths.
School should have a clearly articulated mission that reflects its role in ethics, responsibility, and sustainability. Mission should be understood and shared throughout the institution.
Institution should have financial strategies to provide resources sufficient for achieving its mission.
Institution must have a well-defined, credible, and coherent strategy that reflects resources, constraints, and mission
School should have a defined, clear, and coherent strategy, realistically reflecting its market positioning, resources, and constraints, including a strategy for managing corporate connections.
Admissions, academic progression, career development, and other policies and procedures should be aligned with institution's mission, outcomes, strategies. The school should have policies and processes to enhance faculty teaching effectiveness and ensure quality control.
Institution should demonstrate satisfactory outcomes from internal/external audit processes. It should have governance and continuous improvement policies formulated with corporate participation. Institution should have rigorous admissions standards. No admission to full-time programme with credit, advanced standing, or exemptions.
School should have high quality processes sufficient to support the range of its activities. It should have processes to ensure the quality of its programmes, encompassing the relevance of course content, the quality of teaching, and the effectiveness of learning.
EQUIVALENCY
OUTCOMES
MISSION
PLANNING AND STRATEGY
POLICIES, PROCESSES, AND PROCEDURES
LEA
R
NI
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AACSB
AMBA
EQUIS
Curricula should facilitate faculty and student-student interaction, as well as academic and professional engagement. Content should encompass certain business/management areas and be appropriate for expectations regarding degree type and learning goals. Programme structure should be appropriate for degree level.
MBA programme should be generalist; balance theory and practice, integrative and functional teaching; develop cognitive, critical, intellectual, personal, interpersonal, and other "soft" skills; provide opportunities for collaborative learning, personal development, and subject integration; have an international dimension; and encompass major management areas.
Programmes should be designed with clear learning outcomes, and a balance between knowledge- and skills-acquisition. Curriculum should emphasise learning and allow for practical work. Institution should support student personal and professional development beyond knowledge acquisition and help students define their professional orientation.
The institution should provide career development and other support services for students, consistent with degree programme expectations and its mission, outcomes, and strategies. Processes for managing and directing professional staff and services should be well-defined and effective.
Institution should provide pastoral care, student support, academic assistance, career development opportunities, and facilities to assist with graduate placement. The existence of an alumni association is expected.
School should ensure (1) the quality of its students through the provision of appropriate student services and (2) the quality of graduate placement through a well-resourced career service.
Local, provincial, or national norms, as well as the practice of other AACSB-accredited institutions, provide guidance as to what constitutes normal time-to-degree. Programmes should be structured to ensure consistent, high quality education for the same degree, regardless of differences and changes in technology and delivery modes.
Programme duration should be equivalent to 90 ECTS credits, 1800+ learning effort hours, and 500+ contact hours. Programme delivery may be full-time, part-time, distance/open learning, or blended.
Delivery methods should be diverse and reflect up-to-date educational practise. School should employ a range of teaching and learning methods to maximise learning and the practical application of learning outcomes.
Undergraduate or post-graduate degree programmes in business/ management awarded by the degree-granting institution. For bachelor's degrees: at least 25% of teaching must relate to traditional business subjects; for post-graduate degrees: at least 50% of teaching must relate to traditional business subjects.
MBA and other post-graduate management programmes sponsored or co-sponsored by the degree-granting
institution Business and management education
Scholarship should foster innovation and directly impact the theory, practice, and teaching of business and management. Institution must produce high-quality intellectual contributions that (1) are consistent with mission, outcomes, and strategies, and (2) impact the theory, practice, and teaching of business and management.
Most MBA faculty should be involved in management research, scholarship, and consultancy, the results of which should be incorporated into the MBA programme. Research should have an international dimension.
School should regularly produce original contributions to knowledge that (1) are effectively disseminated, and (2) impact strategically important constituencies.
P RO G RA M M E S A N D C U RRI C U LA DESIGN AND CONTENT MANAGEMENT AND SERVICES MODE AND DURATION SPECIFICATIONS A R SHIP POLICY TOWARD
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AACSB
AMBA
EQUIS
Three categories of peer-reviewed or validated scholarship: (1) basic or discovery, (2) applied, integration/ application, (3) teaching and learning
(AMBA does not have a standard devoted exclusively to scholarship categories.)
Three categories of scholarship with "relevance, impact, and contribution to teaching quality": (1) academic research, (2) practise-oriented research, (3) pedagogic development and innovation
Institution should deploy professional staff/services sufficient to support student learning, instructional development, information technology, intellectual contributions, academic assistance and advising, career advising and placement, alumni and public relations, fundraising, admissions, executive education, and otherwise ensure quality outcomes across programmes and achieve mission.
Institution should develop a level of administrative support appropriate for programme size. Leadership roles and responsibilities should be clearly defined.
Programmes should be adequately staffed, managed, and administered. School should have sufficient high quality staff to support the range of its activities.
(AACSB does not have a standard devoted exclusively to student profile and quality.)
Students admitted to MBA programme must be proficient in English and have 3+ years relevant work experience. Student body should be diverse and have 5+ average work experience. There should be no cohort intakes with less than 20 students.
School should ensure (1) student quality through appropriate selection processes, progression management, and student services; (2) placement quality through well-resourced career services; and (3) a balanced student body representing diverse backgrounds and nationalities. Student quality encompasses motivation, commitment, seriousness of purpose, and employability after graduation.
Tomorrow's business education—
today
Richard J. Joseph, President
Tel:
+1 617-803-3865
Website:
http://www.globaliseducation.com
Linkedin:
http://www.linkedin.com/pub/richard-joseph/7/768/9b8
Twitter:
https://twitter.com/RichardJJoseph
STUDENT PROFILE AND QUALITY
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