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Accreditation systems help institutions foster international partnerships, and this can increase their impact on society.
A good reputation and high rankings are no longer enough for business schools. In a globalized economy, international accreditation and quantifiable benchmarks are important ways of providing an internationally recognized framework that testifies to a school’s quality, its long term viability as a partner, and its potential for development and growth.
According to Professor Eric CORNUEL, the President for EFMD Global (EFMD), a rigorous accreditation system does not just rely on a few criteria that vary from year to year. A good system gives an accurate and comprehensive picture of a school’s offerings, its ethos, and its value for students and partners, he says.
“It allows us to identify leading institutions in terms of their perceived excellence, and also in terms of their commitment to continuous improvement and the impact imperative,” Cornuel explains.
Accreditation also encourages business schools to hold themselves accountable for improving business practices through a commitment to strategic management, learner success, thought leadership, and societal impact, says Caryn BECK-DUDLEY, President and CEO of AACSB International (AACSB). Founded in 1916, AACSB is one of the world’s oldest and most recognized accreditation bodies.