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Interested to study in a top B-School? Here is why an AACSB accreditation matters
Published: Times Of India | Date : August 06, 2019
After institutes such as the Indian Institutes of Management (IIMs), Indian School of Business (ISB) and IFIM Business School already awarded the Association to Advance Collegiate Schools of Business (AACSB) accreditation, the Indian Institute of Foreign Trade (IIFT) is now just a step away from gaining this recognition.
Although aggressive competition has triggered the relevance of accreditation in India, of around 5,500 Indian business schools, only 10 are accredited to AACSB, an American professional organisation that has been offering accreditation to business schools since 1916.
The parameters of AACSB is based on three major themes - engagement, innovation and impact, which is further divided into various categories such as strategic management and innovation, faculty and professional staff, academic and professional engagement.
In a chat with Education Times, Tom Robinson, CEO and president of AACSB, spoke about the increasing interest among Indian B schools to acquire the accreditation. "India has several prestigious business schools; hence it is a large market for us. These schools are producing highly skilled professionals, but our accreditation will render them a global reputation."
Upskilling is gaining popularity in India, and so the demand for executive education is also increasing. Most corporates opt for business schools with AACSB accreditation to partner with. "The nature of the jobs is changing due to technological development. Several technology companies reimburse programme fee of AACSB accredited courses opted by the executives," he adds.
WHAT STUDENTS MUST KNOW
Most of the students aspiring to enter the domain of business education are unaware of the relevance of accreditation. Robinson says, "Despite quality business schools, the candidates do not know the value of accredited institutes. They often select an institute on the basis of the general perception of an institute and peers' suggestions."
Besides the accreditation, students must also look at its global interventions, partnerships and placement records, he adds.
Recruiters have mixed reception of the accreditation. Though many of the firms are focussed on the quality and knowledge of a student, some often select institutes on accreditation basis for campus hiring. "Recruiters follow accreditations indirectly, especially during mass recruitment. To ease the hiring process, they often end up selecting institutes with a strong global reputation and multiple accreditations," says Robinson.
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