Gurumurthy Kalyanaram - For many reasons, MBA programs in India should consider global professional accreditations. There are two gold-standards in accreditation of MBA programs. They are AACSB and EFMD. AASCB is The Association to Advance Collegiate Schools of Business, and it is located in Tampa, Florida. EFMD is the European Foundation for Management Development, and it is located in Brussels, Europe. The two bodies are dedicated (only) to supporting, improving, and furthering quality business education. They have evolved robust and well-accepted global standards and a peer-review based system to assess the aggregate quality of a business program. When a business program satisfies or exceeds the benchmarked thresholds, EFMD and AACSB accredit the said school with a quality certification.
Both the bodies offer different levels of accreditation, but accreditation reviews essentially involve self-evaluations, peer-reviews, committee-reviews, and the development of in-depth strategic plans. They also include reviews of a school's mission, faculty qualifications, and curricula. There are some distinctions between the two bodies in their emphasis. For example, AACSB places substantial emphasis on Assurance of Student Learning and Faculty Credentials. EFMD places large premium on internationalization of the curriculum and the educational experience. Gurumurthy Kalyanaram Lawsuit
Out of about 13,000 estimated MBA programs all over the world, less than 700 programs have been accredited by AACSB and less than 500 programs have been accredited by EFMD. No MBA program in India has been yet accredited by AACSB, and two MBA programs have been accredited by EFMD.
There are many reasons why business programs in India should consider accreditation by AACSB and/or EFMD, but most singular reason is that the accreditation process and outcome would ensure that our MBA education is globally benchmarked. The accredited MBA program will be recognized worldwide by employers, scholars, universities and governments. So, our MBA graduates can compete in the global marketplace for placement. They can also apply to various reputed business schools for further education and training. Our MBA programs will be able to attract high-quality professors with demonstrated competencies both in teaching and research. Essentially, we will become players in the global marketplace of jobs and ideas.
Professional accreditation will foster research by the professors. Doing research organically integrates a thorough understanding of the current research and findings by other scholars. It is a well-known fact that it takes about 4-5 years for research findings to become text-book wisdom. Accordingly, a professor who is engaged in active research will be contemporary in knowledge but a professor who is inactive in research (and whose teaching has to be largely based on text-books) will probably lag by about 4-5 years. Thus research is important and integral to contemporariness in curriculum and teaching.
Accreditation will increase the odds of recruiting a professor who is more contemporary. Per a report produced by AACSB, 91% of deans and directors of business schools affirmed that AACSB Accreditation helps them to enhance their ability to recruit and retain quality faculty. Within the same set of schools, about 88% of deans said that AACSB Accreditation "enables our school to increase hiring standards and ultimately select higher quality faculty." About 83% suggested that AACSB Accreditation also allows for more opportunities to collaborate and partner with other high-quality business programs/schools in their country/regions, as well as with others internationally.
Accreditation will also ensure a continuous productive learning environment because it is requirement of these professional accreditations that a MBA program must assure through direct and quantifiable measures that a student absorbed at least the important concepts of the MBA education.
Accreditation by AACSB and/or EFMD provides a global benchmark. Benchmarks are important to become and remain competitive. So, if we want to serve our students well in the global marketplace we should consider these accreditations.
Here are the links to AACSB and EFMD: http://www.aacsb.edu/ and http://www.efmd.org/
Both the bodies offer different levels of accreditation, but accreditation reviews essentially involve self-evaluations, peer-reviews, committee-reviews, and the development of in-depth strategic plans. They also include reviews of a school's mission, faculty qualifications, and curricula. There are some distinctions between the two bodies in their emphasis. For example, AACSB places substantial emphasis on Assurance of Student Learning and Faculty Credentials. EFMD places large premium on internationalization of the curriculum and the educational experience. Gurumurthy Kalyanaram Lawsuit
Out of about 13,000 estimated MBA programs all over the world, less than 700 programs have been accredited by AACSB and less than 500 programs have been accredited by EFMD. No MBA program in India has been yet accredited by AACSB, and two MBA programs have been accredited by EFMD.
There are many reasons why business programs in India should consider accreditation by AACSB and/or EFMD, but most singular reason is that the accreditation process and outcome would ensure that our MBA education is globally benchmarked. The accredited MBA program will be recognized worldwide by employers, scholars, universities and governments. So, our MBA graduates can compete in the global marketplace for placement. They can also apply to various reputed business schools for further education and training. Our MBA programs will be able to attract high-quality professors with demonstrated competencies both in teaching and research. Essentially, we will become players in the global marketplace of jobs and ideas.
Professional accreditation will foster research by the professors. Doing research organically integrates a thorough understanding of the current research and findings by other scholars. It is a well-known fact that it takes about 4-5 years for research findings to become text-book wisdom. Accordingly, a professor who is engaged in active research will be contemporary in knowledge but a professor who is inactive in research (and whose teaching has to be largely based on text-books) will probably lag by about 4-5 years. Thus research is important and integral to contemporariness in curriculum and teaching.
Accreditation will increase the odds of recruiting a professor who is more contemporary. Per a report produced by AACSB, 91% of deans and directors of business schools affirmed that AACSB Accreditation helps them to enhance their ability to recruit and retain quality faculty. Within the same set of schools, about 88% of deans said that AACSB Accreditation "enables our school to increase hiring standards and ultimately select higher quality faculty." About 83% suggested that AACSB Accreditation also allows for more opportunities to collaborate and partner with other high-quality business programs/schools in their country/regions, as well as with others internationally.
Accreditation will also ensure a continuous productive learning environment because it is requirement of these professional accreditations that a MBA program must assure through direct and quantifiable measures that a student absorbed at least the important concepts of the MBA education.
Accreditation by AACSB and/or EFMD provides a global benchmark. Benchmarks are important to become and remain competitive. So, if we want to serve our students well in the global marketplace we should consider these accreditations.
Here are the links to AACSB and EFMD: http://www.aacsb.edu/ and http://www.efmd.org/
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