Accreditations & rankings are important for Business Schools to benchmark performance. The so-called Triple accreditation refers a business school that holds accreditation from the three leading associations. The associations are:
- AACSB - The Association to Advance Collegiate Schools of Business (based in Tampa, Florida, with an Asia office in Singapore) (recognised accreditation by CHEA)
- AMBA - The Association of MBAs (based in London) (private unrecognised accreditation)
- EQUIS - European Quality Improvement System (based in Brussels) (private unrecognised accreditation)
Of the 13,670 schools offering business degree programs worldwide, only 68 have triple accreditation as of December 2014. The diagram on the right shows the 55 triple-accredited schools outside of North America as of March 2012. Two triple-accredited schools are based in Canada and a further in Sheffield, UK not included in this diagram, bringing the worldwide total to 58. Most recently, Bradford University School of Management, UK has been added to this list.[E.g. for AACSB, the diagram interpretation is as follows: 53 schools are accredited only by AACSB; a further 7 are accredited by AACSB and AMBA; another 23 are accredited by AACSB and EQUIS; and 55 are accredited by all three accrediting bodies.]
A major reason for the small number of triple-accredited institutions in the world is the requirement of the Association of MBAs that AMBA-accredited business schools should only admit MBA applicants with at least three years of full-time post-graduation work experience. Some analysts claim that most top US business schools cannot meet this criterion as they sometimes (though rarely) admit applicants with only a bachelor's degree and little or no work experience. They claim that it is why triple-crown accreditation is pursued primarily by European institutions. However, it is not the case when some (former) triple accredited institutes, City University of Hong Kong for example, only require applicants having "relevant work experience is desirable (though not specifically required)".
- 1 Differences in accreditation
- 2 Schools
- 2.1 Argentina
- 2.2 Australia
- 2.3 Austria
- 2.4 Belgium
- 2.5 Brazil
- 2.6 Canada
- 2.7 China
- 2.8 Colombia
- 2.9 Denmark
- 2.10 Egypt
- 2.11 Finland
- 2.12 France
- 2.13 Germany
- 2.14 Ireland
- 2.15 Italy
- 2.16 Mexico
- 2.17 The Netherlands
- 2.18 New Zealand
- 2.19 Norway
- 2.20 Peru
- 2.21 Poland
- 2.22 Portugal
- 2.23 South Africa
- 2.24 Spain
- 2.25 Switzerland
- 2.26 UK
- 2.27 Venezuela
- 3 Top schools without triple accreditation
- 4 See also
- 5 References
Differences in accreditation
- Scope of accreditation
- AACSB has the broadest scope, as it accredits management and accounting programs at the entire university (e.g. management programs at the business school and the school of engineering) and grants university-wide accreditation.
- AMBA has the most focused scope as it accredits only the business school's portfolios of MBA programs (full-time, part-time, executive, distance-learning), MBM programs (including MSc International Management) and DBA (also known as DMgt in China).
- EQUIS's scope ranks in the middle, as it accredits the business school but not the university and not specific portfolios of programs.
- Duration of the accreditation process
- AACSB: 2–7 years
- AMBA: 9–18 months
- EQUIS: 2–3 years
- AACSB: full re-accreditation every 5 or 10 years (the 10-year accreditation is being phased out)
- AMBA: full re-accreditation every 3 or 5 years (1-year accreditation is a possible outcome of reaccreditation in exceptional circumstances)
- EQUIS: full re-accreditation every 3 or 5 years
- School audit team
- AACSB's peer review team includes deans and business school administrators.
- AMBA's assessment team includes deans, associate deans, program directors and one AMBA representative.
- EQUIS's team includes only deans.
- Evaluation report content
- AACSB's report reflects compliance with the AACSB standards
- AMBA's report includes compliance with criteria, commendations and recommendations
- EQUIS's report reflects compliance with the EQUIS standards
- Criteria/Standards size
- AACSB: 77 pages for Business Accreditation; 36 pages for Accounting Accreditation
- AMBA: 24 pages (9 pages for MBA; 9 pages for MBM; 6 pages for DBA)
- EQUIS: 67 pages
- Quantitative vs Qualitative
- AACSB has more quantitative criteria (checklists)
- AMBA has more qualitative criteria
- EQUIS is in the middle (between AACSB and AMBA)
- AACSB conducts the evaluation against the school's own mission, so AACSB has no internationalization requirement unless internationalization is part of the school's mission.
- AMBA has internationalization criteria for research, curriculum and student enrolment. However, these are reviewed in a regional context for less internationalized regions (e.g. Latin America and Russia).
- EQUIS has strict requirements on internationalization.
- Faculty numbers
- AACSB: prescribed faculty ratios (AQ/PQ ratio)
- AMBA: no prescribed faculty-to-students ratio
- EQUIS: prescribed minimum numbers of faculty
- Visiting faculty
- AACSB disapproves of heavy use of visiting faculty.
- AMBA allows the visiting faculty model, as long as the visiting faculty are managed by the core faculty (and as long as the quality and course content is monitored).
- EQUIS disapproves of heavy use of visiting faculty.
- AACSB requires research in line with the mission of the school.
- AMBA requires research and publications in international refereed journals or proof of impactful research at national level.
- EQUIS requires research with an international dimension.
- Program-specific criteria
- AACSB has no program-specific standards since it evaluates the entire university.
- AMBA has program-specific criteria such as:
- at least 3 years of full-time work experience for all admitted MBA students;
- at least 500 contact hours (scheduled class hours) for a full-time MBA curriculum and a minimum of 120 contact hours for a distance-learning MBA;
- at least 20 students enrolled in an MBA program;
- EQUIS has no program-specific standards since it evaluates the entire business school.
- Accreditation fees
- AACSB: 17,500 USD for initial business accreditation (or 26,800 USD for both business and accounting accreditation). In addition, an annual business accreditation fee is charged: 4,500 USD annually for a 5-year accreditation cycle or 2,500 USD annually for a 10-year accreditation cycle.
- AMBA: 22,000 GBP for initial accreditation or 15,000 GBP for re-accreditation.
- EQUIS: 38,675 EUR for a 5-year initial accreditation or re-accreditation and 32,725 EUR for a 3-year initial accreditation or re-accreditation.
- IAE Universidad Austral, Buenos Aires
- Antai College of Economics and Management, Shanghai Jiao Tong University, Shanghai
- Faculty of Business, The Hong Kong Polytechnic University, Hong Kong
- School of Business, The Hong Kong Baptist University, Hong Kong
- Sun Yat-sen Business School, Sun Yat-sen University
- Lingnan (University) College, Sun Yat-sen University
- Zhejiang University
- Universidad de los Andes, Facultad de Administración, Bogota
- Audencia Nantes, Nantes
- KEDGE Business School – Created by BEM & Euromed Management
- EDHEC (École des hautes études commerciales du nord), Lille & Nice
- EMLYON Business School, Lyon
- ESCP-Europe (École supérieure de commerce de Paris — Europe), Paris
- Grenoble School of Management, Grenoble
- HEC Paris (Ecole des Hautes Etudes Commerciales), Paris
- INSEAD (Institut Européen d'Administration des Affaires), Fontainebleau & Singapore
- NEOMA Business School – Created by Reims Management School & Rouen Business School
- Toulouse Business School, Toulouse
- ESC Rennes School of Business, Rennes
- ESCP Europe, Berlin
- European School of Management and Technology, Berlin
- Mannheim Business School, Mannheim
- University College Dublin, Michael Smurfit Graduate School of Business/UCD Quinn School of Business, Dublin
- EGADE Business School, Tecnológico de Monterrey, Monterrey and Mexico City.
- Instituto Tecnológico Autónomo de México, Mexico City.
- Maastricht University, School of Business and Economics, Maastricht
- Rotterdam School of Management, Erasmus University Rotterdam, Rotterdam
- University of Auckland Business School, Auckland
- University of Waikato Faculty of Management, Hamilton
- Victoria University of Wellington, Victoria Business School, Wellington
- Kozminski University, Warsaw
- CATÓLICA-LISBON, School of Business & Economics, Lisbon
- Nova School of Business and Economics, Lisbon
- University of Cape Town Graduate School of Business, Cape Town
- University of Stellenbosch Business School, Cape Town
- ESADE Business School and ESADE University Faculties, Barcelona
- ESCP Europe, Madrid
- IE Business School, Madrid
- IESE Barcelona
- IMD Lausanne
- Adam Smith Business School, University of Glasgow, Glasgow
- Ashridge Business School, Berkhamsted
- Aston Business School, Aston University, Birmingham
- Birmingham Business School, University of Birmingham, Birmingham
- Bradford University School of Management, University of Bradford, Bradford
- Cass Business School, City University London, London
- Cranfield School of Management, Cranfield University, Bedfordshire
- Durham University Business School, Durham University, Durham
- University of Edinburgh Business School, Edinburgh University, Edinburgh
- ESCP Europe, London
- Henley Business School, University of Reading, Henley-on-Thames and Reading
- Hull Business School, University of Hull, Hull
- Imperial College Business School, London
- Lancaster University Management School, Lancaster University, Lancaster
- Leeds University Business School, University of Leeds, Leeds
- London Business School, London
- Loughborough University School of Business and Economics, Loughborough University, Loughborough
- Manchester Business School, University of Manchester, Manchester
- Newcastle University Business School, Newcastle University, Newcastle upon Tyne
- Open University Business School
- University of Sheffield Management School, University of Sheffield, Sheffield
- Strathclyde Business School, University of Strathclyde, Glasgow
- Warwick Business School, University of Warwick
- IESA, Caracas
Top schools without triple accreditation
Many of the world's top business schools are not triple-accredited, while several schools that appear low in the rankings have triple accreditation.
One reason for this is that some of the top business schools choose not to incur the financial cost of international accreditation and rely only on accreditation by their national accrediting body (usually the country's education ministry).
Another reason is that the top schools in some regions do not meet one or more of the detailed criteria of the accrediting institutions and choose not to amend their policy. Notable examples are all top US business schools: Harvard Business School, Wharton, Stanford GSB, Columbia Business School, Chicago Booth, etc., which do not meet AMBA's mandatory three-year student-work-experience requirement for all MBA applicants.
A third reason is that the 509 schools that have obtained AACSB accreditation in the US and Canada (either via the standard accreditation process or via the granting of accreditation based on their reputation as top schools) do not look outside of North America for further validation, such as through European or British accreditation.
- "Triple accredited business schools (AACSB, AMBA, EQUIS)". MBA Today.
- The Economist. Oct 15th 2011. "Is time running out for business schools that aren’t quite elite?"
- AMBA Criterion 5.4, P. 5 - http://www.mbaworld.com/administrator/file_sys/uploaded_files/1299681060-MBA%20critieria_web.pdf
- "Andreas Kaplan: European Management and European Business Schools: Insights from the History of Business Schools, European Management Journal, 2014".
- "MBA Admissions Requirements, City University of Hong Kong".
- AACSB Standards http://www.aacsb.edu/accreditation/standards.asp
- AMBA Criteria http://www.mbaworld.com/accreditationcriteria
- EQUIS Standards and Criteria http://www.efmd.org/accreditation-main/equis/equis-guides
- AMBA-accredited schools: http://www.ambaguide.com/find-an-accredited-programme/schools/
- AACSB-accredited schools: http://www.aacsb.edu/accreditation/accreditedmembers.asp
- EQUIS-accredited schools: http://www.efmd.org/accreditation-main/equis/accredited-schools