MBA Accreditation - Why is Accreditation Important?
Attending an MBA program is a large committment in terms of both time and money spent. As such, students wish to get the most out of their committment by receiving a high quality education. Accrediting MBA bodies insure the quality of an MBA program and give students peace of mind that they are participating in a superior quality and meticulously tested program. These accrediting institutions make certain that the student gets the highest return on their MBA investment.
Employers are looking for future managers that have received the best possible education. Attending an accredited MBA program ensures that the education meets the demands of the business world. Often times, accredited MBA programs hire the best and brightest managers in their field, giving the students contextual examples of business scenarios.
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Three main accrediting bodies: AMBA, AACSB and EQUIS
Generally speaking, EQUIS accrediation focuses on a school's diversity and international applicability. EQUIS' scope covers all programs offered by an institution from an undergraduate bachelor's degrees up to Ph.D. programs. This accreditation is usually refered to as the European standard.
The AACSB accreditation focuses on how a school uses its resources for continuing educational improvements and ecompasses broad aspects regarding the school's quality. AACSB accreditation is largely considered the North American standard. Finally, the AMBA accreditation targets specific MBA programs and specializations, focusing on the individual quality of the program, rather than the school in its entirety.
AACSB - Association to Advance Collegiate Schools of Business
Established in 1916, the AACSB assesses key factors that influence the quality of a business school such as their mission, operations, faculty, facilities and other critical areas. The AACSB accreditation is known as the longest standing, most recognized form of professional accreditation a business school can earn. The AACSB now accredits 567 institutions on six continents.
EQUIS - European Quality Improvement System
EQUIS is an accrediting institution under the European Foundation for Management Development. EQUIS accredits schools based on general quality and school's level of internationalization. Unlike the AMBA accreditation, EQUIS accredits institutions as a whole, not on a program by program basis. Currently, EQUIS accredits 127 business schools in 35 countries.
AMBA - Association of MBAs
The AMBA was established in 1967 and offers impartial accreditation of specific MBA, DBA, and MSc programs - not entire schools like AACSB and EQUIS. AMBA accredits programs internationally and currently accredits programs at 180 different business schools in 72 different countries.
A triple accreditation from each of these accrediting bodies means that all aspects of the school have been evaluated and the school meets the highest educational standards.
A triple accredited school means that the individual program's curriculum exceeds the standards in place by the AMBA; the entire institution is both international and diverse as stipulated by EQUIS; and it meets the criteria set by AACSB in continually pursuing educational improvements. Of the 3,900 business schools worldwide, only 50 have recieved triple accreditation.
Triple accredited MBA providers on searchmba.com
- Aston University - Aston Business School
- City University - Cass Business School
- Cranfield School of Management
- ESADE Business School
- HEC Paris
- IE Business School
- Lancaster University Management School
- London Business School
- MIP Politecnico di Milano
- University of Manchester - Manchester Business School
- University of Warwick - Warwick Business School
- Shanghai Jiao Tong University - Antai College of Economics & Management
- Maastricht University School of Business and Economics