European Foundation for Management Development

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European Foundation for Management Development
MottoActing as a catalyst to promote and enhance excellence in management development internationally
TypeNot-for-profit organization
PurposeEducational accreditation
HeadquartersBrussels, Belgium
Region served
over 800 in 80 countries
Chief Executive Officer
Eric Cornuel

The European Foundation for Management Development (EFMD) is an international not-for-profit association, based in Brussels, Belgium.[2] Europe's largest network association in the field of management development,[3] it has over 890 member organizations from academia, business, public service and consultancy in 88 countries (as of September 2017). EFMD provides a forum for networking in management development.[4]

EFMD operates the EFMD Quality Improvement System (EQUIS), which is one of the leading international systems of quality assessment, improvement, and accreditation of higher education institutions in management and business administration. It is comparable to its American equivalent Association to Advance Collegiate Schools of Business and provides a forum for information, research, networking and debate on innovation and best practice in management development.[5]

The foundation also runs the EPAS accreditation system for programmes as well as the EFMD Deans Across Frontiers development programme (EDAF) and the Business School Impact System (BSIS).[6]

Types of accreditation[edit]

While the EQUIS accreditation process, which is valid for an entire school (or faculty), is the main type of accreditation EFMD offers, there are a variety of other accreditations available. With EPAS[7] it is possible for business schools to have certain degree programs accredited rather than the entire school. This variant somewhat resembles the AMBA (Association of MBAs) accreditation, as the London-based Association accredits the school's entire portfolio of MBA programs, but does not accredit the entire business school. EFMD also offers an accreditation for online courses (EOCCS) and for corporate learning (CLIP).

Triple Accreditation[edit]

In business and management education, acquiring multiple accreditation by EQUIS, AACSB and AMBA is often considered the "gold standard" because a business school must go to through a rigorous certification process by each of the three accreditation bodies. Schools that acquire all three are often referred to as having a Triple accreditation or Triple Crown accreditation.[8]

EFMD activities[edit]

EFMD is the European partner in the China Europe International Business School (CEIBS), a joint venture with Shanghai Jiaotong University established as the first international business school with autonomous status in 1994 under an agreement between the European Commission and the Chinese Ministry of Foreign Trade and Economic Cooperation.[9] EFMD is also founding partner of the Global Foundation for Management Education (GFME), which is a joint venture with the US-based Association to Advance Collegiate Schools of Business (AACSB International).[10] EFMD organizes conferences and seminars around the world for management development industry and published the Global Focus magazine.

In 2009, EFMD received an EU grant worth €2.2m[11] for a project that aims to improve the efficiency of Cuban companies by providing training to senior managers. This project, called Consolidating and Strengthening Cuban Managerial Capabilities,[12] is to be implemented under the leadership of EFMD together with ESADE, a business school in Barcelona, and the Cuban Ministry of Higher Education.


  1. ^ "EFMD EUROPEAN FOUNDATION FOR MANAGEMENT DEVELOPMENT". 17 January 2013. External link in |journal= (help)
  2. ^ "L'European Foundation for Management Development (EFMD)". External link in |journal= (help)
  3. ^ "European Foundation for Management Development: EQUIS Accreditation: A Level of Quality". MBA Courses Worldwide. Sandringham Publishing Ltd. Retrieved August 19, 2010.
  4. ^ "European Foundation for Management Development". External link in |journal= (help)
  5. ^ "Hayleys case study by INSEAD wins top award in Europe". The Daily Mirror. Sri Lanka. 3 June 2010. Retrieved August 19, 2010.
  6. ^ "European Foundation for Management Development (EFMD)". External link in |journal= (help)
  7. ^ "EPAS Accreditation EFMD Programme accreditation System (EPAS)". Retrieved November 1, 2010.
  8. ^ "Grandes écoles: les labels enfin décryptés". 13 March 2014. External link in |journal= (help)
  9. ^ "Global Initiatives" (PDF). Retrieved May 24, 2012.
  10. ^ "Global Initiatives" (PDF). Retrieved May 24, 2012.
  11. ^ "2009 Annual Action Programme for Non-State Actors and Local Authorities in Development" (PDF). Retrieved November 1, 2010.
  12. ^ "Consolidating and Strengthening Cuban Managerial Capabilities". Retrieved November 1, 2010.

External links[edit]