| While the modalities are being chalked out, it is believed that such a body would give an international push and recognition to B-schools in India.
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| Academicians from various B-schools are seriously mulling the introduction of a private and independent accreditation body, which will recognise Indian management institutes and give them accreditation on the lines of a CRISIL or an ICRA.
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| At present, India has two government-run accreditation bodies — the National Board of Accreditation (NBA), constituted by the All India Council for Technical Education (AICTE) and National Assessment and Accreditation Council (NAAC), an autonomous institution established by the University Grants Commission (UGC).
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Accreditation in India, like the world over, is voluntary. Of a total of 1,600 engineering institutes, NBA so far has accredited around 700 institutes and among 1,200 management institutes, it has accredited around 150 institutes. On the other hand, NAAC has recognised around 140 universities and 3,492 colleges so far. For any management institute to get recognised, two management batches (four years of operation) should pass out from the institute. For an engineering institute, too, two batches (six years of operation) should pass out.
| GETTING ACCREDITED |
| S P Jain Institute of Management Studies |
AMBA |
| Narsee Monjee Institute of Management Studies |
AACSB International |
| MDI Gurgaon |
EQUIS and AACSB International |
| Xaviers Institute of Management, Bhubaneshwar |
AMDISA |
| Xavier's Institute of Labour Relations |
SAQAS and EQUIS |
| ICFAI |
AACSB International and EQUIS |
| ISB |
AACSB International |
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| While the modalities of forming the new accreditation body are still being worked out, the academia thinks it is a step in the right direction. Says M R Rao, dean, Indian School of Business, Hyderabad: “An independent accreditation body could work well for Indian institutes like CRISIL and ICRA work for corporate entities. Accreditation has a lot of advantages and B-schools could use it for the same.” ISB has applied for the Association to Advance Collegiate Schools of Business (AACSB) International accreditation.
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| Accreditation or global recognition has multiple benefits. It helps B-schools notch up global placements; tie-up with international management schools; get potential international recruiters; student exchange programmes and recruit internationally qualified faculty. Students, on the other hand, can mine for the right B-school by logging on to the website of the accrediting bodies.
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| Says Bijoy K Sahoo, dean, School of Business, North Carolina Central University: “Having accreditation is like having an MBA degree with good education. It is a quality stamp. When I once asked my faculty why they join my school, most of them said it was because of our AACSB accreditation.”
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| Internationally, there are five recognised accrediting bodies. These include: US-based, Association to Advance Collegiate Schools of Business (AACSB) International; European Foundation for Management Development (EFMD); Association of Management Development Institutions in South Asia (AMDISA) and Association of MBAs (AMBA). AMDISA has formulated the South Asian Quality Accreditation System (SAQS), Asia’s first global accreditation system.
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| However, getting accreditation from AMBA, EQUIS and AACSB is considered the ultimate goal. AACSB, till last year, had granted accreditation to 527 B-schools in 30 countries, which is less than 15 per cent of the world’s B-schools.
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| Some Indian B-schools that have applied to international accreditation bodies for a quality certification include S P Jain Institute of Management Studies for AMBA; Narsee Monjee Institute of Management Studies for AACSB International; MDI Gurgaon for EQUIS and AACSB International; Xaviers Institute of Management, Bhubaneshwar for AMDISA; Xavier’s Institute of Labour Relations for SAQAS and EQUIS and ICFAI has applied for AACSB International and EQUIS.
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| Accreditation certificate to management schools is given at two levels — for the two-year MBA programme and for the campuses. AMBA, a UK-based body, accredits schools for management programmes.
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| Gurgaon-based Management Development Institute (MDI) has already received an accreditation from Association of MBAs for its two-year MBA programme.
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| Pritam Singh, professor of eminence, MDI Gurgaon, says: “Accreditation is a powerful way of knowing your strengths and weaknesses. More than an idea of brand-building and getting a reputed stamp, it is about knowing how to build a world-class B-school.”
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| A few B-schools like MDI, SPJIMR, XLRI and ICFAI, which have already set shops abroad, understand that international certification is crucial to compete globally. |
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