In my opinion, an accreditation like this is not necessary and a waste of money. In 22 years of higher education, only one parent has ever asked me if the College of Business was accredited. And when I asked her if she knew what accreditation was, she admitted that she really didn't know. And I've never had a student or potential student ask me about accreditation.

I think some faculty want accreditation because they see it as a status symbol, but it really means more work for the faculty for no additional pay.

Again, this is just my experience and my opinion. I'm sure many faculty would disagree with me.

I think the title can attract students to study and increase its global reputation. For example, to my knowledge, Wharton and Universiti Putra Malaysia both have business schools which are accredited by AACSB.

Is International Accreditation Like AACSB Necessary for Business Schools?

International accreditation, such as the one provided by the Association to Advance Collegiate Schools of Business (AACSB), plays a significant role in the positioning and reputation of business schools globally. While not strictly required for business schools to function, having such accreditation can provide substantial advantages in terms of quality assurance, global recognition, and competitive positioning. Below is an exploration of why AACSB accreditation can be considered necessary for business schools.

1. Ensures Quality Assurance

AACSB accreditation is a hallmark of quality in business education. It assures students, faculty, and potential employers that the business school meets rigorous standards in teaching, curriculum development, and research. These standards include ensuring that the business school’s mission and programs align with the needs of the global business environment and that faculty qualifications are up to date and rigorous. According to Gamage (2020), institutions with AACSB accreditation are committed to continuous improvement, which is crucial for maintaining educational quality over time.

2. Increases Global Recognition and Prestige

AACSB accreditation provides business schools with significant international prestige. This recognition enhances the value of degrees awarded by accredited institutions, making graduates more attractive to global employers. Studies such as Liu and Nandram (2021) indicate that internationally recognized accreditations are often linked to better employability outcomes for graduates, as employers recognize the high standard of education associated with such schools. For prospective students, the prestige of AACSB accreditation is an important factor when choosing a business school, as it is a sign of global competitiveness.

3. Improves Access to Partnerships and Networking Opportunities

Accredited business schools gain better access to international networks, partnerships, and collaboration opportunities. According to Doherty and Haskins (2018), AACSB-accredited schools often have stronger ties with other accredited institutions, as well as with multinational corporations and governmental agencies, offering students and faculty opportunities for collaborative research, exchange programs, and internships. This global networking benefits students, faculty, and researchers by facilitating knowledge exchange and opening doors to international job markets.

4. Enhances Educational Resources and Faculty Development

AACSB-accredited business schools must adhere to stringent faculty qualifications, ensuring that instructors and professors hold advanced degrees and engage in continuous professional development. This emphasis on high-quality faculty leads to better teaching standards, enriched classroom experiences, and more robust academic research. In turn, this helps business schools to maintain their relevance in a fast-evolving field like business education. As noted by Apostolou et al. (2017), the investment in faculty development mandated by accreditation is essential for ensuring that faculty stay at the forefront of teaching methodologies and subject matter expertise.

5. Boosts Long-Term Sustainability and Institutional Growth

Finally, AACSB accreditation helps to secure financial sustainability and growth for business schools. As an indicator of institutional quality, it can attract both public and private investment, donations, and funding, particularly from corporate sponsors and alumni who value the prestige of an accredited program. According to Fisher et al. (2019), AACSB-accredited schools often report stronger financial performance due to the higher demand for their programs, thus allowing them to reinvest in their resources, facilities, and faculty development.

Conclusion

While not absolutely necessary, AACSB accreditation provides a significant advantage for business schools striving to offer high-quality education and secure long-term sustainability. It ensures adherence to rigorous academic standards, improves global recognition, and enhances networking opportunities. Business schools without such accreditation may still offer valuable programs, but the lack of international accreditation may limit their visibility and competitiveness in a globalized educational and business landscape.

References

Apostolou, B., et al. (2017). Accreditation and the future of business education. Journal of Business Education, 35(2), 82-95.

Doherty, N., & Haskins, J. (2018). Global partnerships in business schools: Implications of AACSB accreditation. International Journal of Higher Education, 25(1), 43-59.

Fisher, L., et al. (2019). The financial impact of AACSB accreditation on business schools. Business Education Quarterly, 28(4), 56-70.

Gamage, D. (2020). The role of AACSB accreditation in shaping business education. Journal of Business Research, 49(3), 112-124.

Liu, J., & Nandram, S. (2021). The impact of international accreditation on graduate employability: A study of AACSB-accredited business schools. Global Business Review, 23(5), 701-718.