Association to Advance Collegiate Schools of Business
AACSB International--The Association to Advance Collegiate Schools of Business (AACSB), founded in 1916, has
granted specialized business school accreditation to more than 500 degree-granting institutions in 30 countries. It is generally
regarded as one of the world's most prestigious accreditors of business school programs, alongside EQUIS and the Association of MBAs.
AACSB was known as the American Assembly of Collegiate Schools of Business until 1997.
Background
AACSB International―The Association to Advance Collegiate Schools of Business is the world’s first and largest accrediting organization for undergraduate, master’s, and doctoral degree programs in business schools around the world, having granted international accreditation to more than 500 business schools in 30 countries. The Tampa, Florida (USA)-based organization is a non-profit association of educational institutions, corporations, and other organizations involved with business education.
AACSB Organization
AACSB was organized by a consortium of 16 business schools including Columbia University, Dartmouth College, Harvard University, New York University, Northwestern University, Ohio State University, Tulane University, University of California at Berkeley, University of Chicago, University of Illinois, University of Nebraska, University of Pennsylvania, University of Pittsburgh, University of Texas, University of Wisconsin-Madison, and Yale University. In addition to accrediting schools around the world in both business and accounting, the association also is the professional development organization for the business education community, conducting a wide array of conference and seminar programs at various locations around the world. For many students seeking a quality business education and some companies seeking high-caliber business talent, one of the most important criteria to consider is international accreditation. By choosing an AACSB-accredited school, students can be more certain they have access to high quality faculty, continually updated curricula, and real-world relevance that prepares student for the job market. Prospective employers know that graduates of AACSB-accredited schools are better prepared to perform.
Stated Missions, Flexible Standards
It is important to understand that application of AACSB’s 21 accreditation standards are based on the stated mission of each institution. While standards must be met, they are flexible enough so that they can be applied to a wide variety of business schools in many locations with different missions. It takes between three and five years for a school to go through the entire accreditation process. Delivery method of programs has nothing to do with a school's ability to earn AACSB accreditation. AACSB's mission-based accreditation allows for a wide variety of business schools to earn accreditation, including many institutions that offer online and other distance learning programs, as well as the more conventional on-campus programs.
Benefit To Business Students
With more than 500 schools accredited by AACSB around the world, there are many diverse approaches to business education. Accreditation assures prospective students that each school has a clearly defined mission, a faculty that is engaged in research and/or professional development, and clearly defined learning objectives and processes in place to measure whether or not students are achieving those objectives. Furthermore, all accredited schools must annually review their own operations to ensure that they are in line with their mission and long-term strategic plan. From a student's perspective, mission-based accreditation emphasizes the importance of conducting thorough research when going through the school selection process. While accreditation is an assurance that the school can deliver a quality education, it is incumbent upon the student to see if the mission of the school matches his/her goals and objectives.
Global Perspective
Accreditation also ensures that students prepare to confront the challenges of a global economy, conflicting values, changing technology and demographic diversity—issues that every business leader will face. AACSB-accredited business schools aim to prepare students to address these challenges and lead organizations in an increasingly complex world. Institutions with AACSB International business and accounting accreditation express their commitment to quality and continuous improvement through a rigorous and comprehensive peer review process.
Review Process
Every five years, AACSB-accredited schools are required to go through a rigorous review process. This means that each school is evaluated on each standard within the context of the established mission. For example, expectations for meeting faculty qualification standards would be different for a school offering only undergraduate programs than for a school which also offers research-intensive doctoral programs. Additionally, some schools prepare their students for business integral to the local community; while others may focus more on the global economy.
Related Activities
In addition to accrediting business schools and accounting programs worldwide, the association provides professional development for the business education community, conducting a wide array of conferences and seminars at various locations throughout the world. AACSB also supports a base of more than 1,000 constituents who, through membership status, have access to the special reports on the business education industry, discounts to conferences and seminars, a bimonthly magazine, monthly electronic newsletter and other benefits.
Benefits to Finance Majors and Minors of AACSB Schools
Due to global recognition agreements with the AACSB which accredits hundreds of the top business school programs internationally, the board certification of MFP Master Financial Planner Professional from the American Academy of Financial Management is available to AACSB business school graduates with a finance or financial planning concentration.
External links
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