Accreditation Is Not a Mere Standard
The European Foundation for Management Development (EFMD) is a global, membership driven organization, based in Brussels. As Europe''s largest network association in the field of management development, with some 470 members from academia, business, public service and consultancy in forty countries of Europe and the World, EFMD plays a central role in shaping an international approach to management education.
Maintaining Quality Standards
When it comes to studying for an MBA, choosing a business school and an MBA program with a good reputation among MBA recruiters has got to be a major consideration. The marketplace for MBAs is increasingly international and employers want to know where to recruit top talent. Accreditation is one way in which employers can differentiate between the large number of business schools around the world offering MBA programs.
Organized in 1916, AACSB is the premier accrediting agency for bachelor's, master's and doctoral degree programs in business and accounting. It conducts development programs for faculty and administrators; engages in research /survey projects; maintains relationships with disciplinary associations; interacts with corporations on initiatives; and produces publications on management education trends.
The Main Accreditation Services
AMBA (Association of MBAs)
is a U.K.-based organization developed in 1967 to examine only the content of an MBA program. Unlike the other two, it focuses on the program itself and not the school. Thus, it is common for business programs to have AMBA accreditation alongside another standard.
EQUIS (Europeean Quality Improvement System)
was launched in 1997 to characterize the European approach to management education.
AACSB (Association to Advance Collegiate Schools of Business)
International was founded in the U.S. in 1916 and began its accreditation function with the first adoption of standards in 1919. It has continued to evolve by including new measures for business schools through rigorous review.