IIM (Indian Institute of Management) Indore has become the 10th business education institute in India to earn the accreditation from AACSB International (AACSB), the global accrediting body for business schools.
The accreditation in essence gives the B-school an international stamp of approval.
AACSB accreditation recognizes institutions that have demonstrated a focus on excellence in all areas, including teaching, research, curricula development, and student learning,” said Stephanie M. Bryant, executive vice president and chief accreditation officer at AACSB International.
In India, SPJIMR Mumbai, IIM Udaipur, School of Business Management at NMIMS Mumbai, ISB, IIM Calcutta, XLRI, IMT Ghaziabad, TAPMI and IFIM have received the AACSB accreditation so far.
“IIM Indore is delighted to be a part of the coveted group of institutions accredited by AACSB, and this is a result of our sustained effort to be a contextually relevant and socially conscious world-class institution” Himanshu Rai, director at IIM Indore said.
Earlier this month, IIM Indore won the Association of MBAs (AMBA) Business Excellence Award 2019 in the category of Business School Impact on Community and Society for its Rural Immersion Programme which is an initiative from the institute to help students understand the problems faced by the rural areas and then help solve them.
Synonymous with the highest standards of quality, AACSB accreditation inspires new ways of thinking within business education globally and, as a result, has been earned by only five per cent of the world's schools offering business degrees at the bachelor level or higher. Today, 836 institutions across 55 countries and territories maintain AACSB accreditation. Furthermore, 189 institutions maintain a supplemental AACSB accreditation for their accounting programmes.
Founded in 1916, AACSB established is the longest-serving global accrediting body for business schools, and the largest business education network connecting students, educators, and businesses worldwide. It first adopted standards for degree programs in business administration in 1919 and adopted additional standards for undergraduate and graduate degree programs in accountancy in 1980. Throughout the years, the standards have continued to be revised to ensure quality and continuous improvement in collegiate business education.
AACSB accreditation provides a framework of 15 international standards against which business schools around the world assess the quality of their educational services. These standards ensure continuous improvement and provide a focus for schools to deliver on their mission, innovate, and drive impact. AACSB-accredited schools have successfully undergone a rigorous review process conducted by their peers in the business education community, ensuring that they have the resources, credentials, and commitment needed to provide students with a first-rate, future-focused business education.
AACSB also announced that Lahore University of Management Sciences, Texas A&M University–Texarkana, the University of Agder, and the University of Macau have earned accreditation in business.