It can take several years for a business school to achieve accreditation.
The three institutions assess business schools according to their different criteria and scope. Their accreditation panels typically include deans, associate deans, programme directors, and business school administrators.
To achieve accreditation, a business school will send information on its programmes and processes to the accreditation body. After reviewing the information, the accreditation panel then spends time at the school. As part of their assessment, the panel will talk to people at every level of the business school – from board members to lecturers to students.
When a business school receives Triple Crown accreditation from AACSB, AMBA, and EQUIS, it means they have met three sets of rigorous, international quality standards. Triple Crown accreditation has been awarded to only 90 business schools globally, out of more than 13,670 schools offering business degree programmes worldwide.
AACSB – The Associate to Advance Collegiate Schools of Business (USA)
Regarded as the benchmark for high-quality business school education, AACSB assesses schools on everything from strategic management and innovation, to academic and professional engagement.
All of an institution’s business and management programmes must be reviewed in order to achieve accreditation. AACSB’s aim is to challenge business schools to pursue excellence and continuous improvement in their programmes.
AMBA – The Association of MBAs (UK)
AMBA accredits a business school’s MBA programmes specifically, allowing them to examine course details in depth. Their focus is on a business school’s impact, employability, and learning outcomes.
AMBA-accredited business schools only admit MBA applicants with at least three years of full-time, postgraduate work experience and they also require substantial interaction between faculty and students.
EQUIS – The European Quality Improvement System (EU)
EQUIS accredits business schools based on their general quality of education, rather than specific programmes. Their focus is on a business school’s academic quality, interaction with the corporate world, and internationalisation. They require international diversity on both the governing and advisory boards of their accredited business schools.