Similar to pursuing any course say Accountancy, the selection of the “right” MBA School or programme is indeed a very challenging process.
Many prospects would cite factors like cost, reputation, location and type of MBA.However please do not forget one critical factor during the selection of the right MBA which is the ACCREDITATION of the MBA programme.
You may ask why bother to know about accreditation. To answer this we need to understand what’s accreditation is all about.
In simple term, accreditation is like a certificate received by the MBA School whereby it is acknowledged that the MBA School or programme has met certain strict criteria or certain standard required. To achieve accreditation, extensive quality control process is normally carried out by teams of professionals and assisted by senior management from the respective business schools to ultimately determine whether the school or programme has achieved a certain standard. Of course the more accreditation by various international accreditation bodies, the more credibility it has.
A little bit of history of accreditation:
In the early years when the first MBA was established in 1901 there were no real accreditation bodies to determine the quality of such MBA programmes.
- Until 1906, the Association of Advance Collegiate Schools of Business(AACSB) in the United States was established with the main objective of raising the standard of management education worldwide.
The following are three well-known accreditation bodies :
(a) Association of Advance Collegiate Schools Of Business (AACSB)
Accreditation assures the stakeholders that
- The business schools provide high caliber teaching, curricula and at the same time, cultivate meaningful interaction between students and a qualified faculty
- The business school manages its resource to achieve a vibrant mission together with producing graduates who have achieved specified learning
(b) The Association of MBAs
Based in Britain. Established in 1967 with the aim of promoting MBA to institutions, prospective students and employers.
- Ensures the accredited MBA programmes produce professional managers.
- Accredition is valid for up to five years after which the school must submit for re-accreditation.
© EQUIS under the European Foundation for Management Development (EFMD)
Founded 30 years ago, EQUIS is recognized as one of the leading international accreditation bodies for business schools.
- It ensures accredited institutions attain high standards in the national market and is also credible in the international arena.
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