MBA Education: Accreditation
Today, many universities and business schools give MBA degrees. How to make the right choice of a school? How to navigate in a sea of diverse, not always reliable information?
According to surveys of potential MBA programs listeners, which are regularly conducted by Begin Group company project, 47% of respondents consider school reputation one of the most important factors. Applicants confirm availability of school accreditation serves an important component of its image.
Both schools and individual programs may be considered accredited and relevant to international standards. If an institution is qualified to offer business education, this means all its programs meet standards. Following organizations involved in accreditation are best known: AACSB International (USA), AMBA (Europe), EQUIS (Europe) and ECBE (Europe).
Different countries also have national organizations that accredit schools and programs in terms of compliance with standards. For example, Middle States Association of Colleges and Schools is one of well-known institutions of this kind in the U.S.
Organizations providing services for accreditation of education:
- AACSB International (The Association to Advance Collegiate Schools of Business)
- AMBA (Association of MBAs)
- EQUIS (European Quality Improvement System)
- ECBE (European Council for Business Education)
- RABE (Russian Association of Business Education)
AACSB
AACSB International (The Association to Advance Collegiate Schools of Business) - the main U.S. organization operating in the said area. AACSB was created in 1916. Its goal is improving the quality of higher education in business administration and management. At this time, the Association accredited 426 organizations around the world.
Only nine of more than one hundred business schools in the UK are accredited by three leading organizations in the UK, Europe and the USA.
International Organization of AACSB (The Association to Advance Collegiate Schools of Business) gives accreditation only to those schools which meet expectations of business and academic communities on a wide range of quality standards.
AACSB International Accreditation ensures stakeholders a business school:
- manages resources so as to perform appropriate vital mission;
- develops knowledge in business and management using higher-education teaching personnel;
- conducts training at quality education programs at the highest level;
- creates conditions for fruitful interaction between students and faculty;
- graduates students who completed specific training plans.
AMBA
Association of MBA (AMBA) deals with problems of education in management for university graduates and promotes formation of professional manager class, addressing two major challenges:
- Promote MBA in academic institutions, interest prospective students and employers with the program and increase supply and demand for MBA programs.
- Check the quality of MBA programs has a sufficiently high level to train highly qualified managers.
Accreditation was introduced to ensure these objectives are met and assess business schools and their programs to meet certain criteria. Criteria established by the Association are constantly improved, and business schools and employers make their invaluable contribution to this process. Currently, the Association has to increase demand for education in the field of management among university graduates, and in addition, the Association deals with issues related to the fact MBA market is becoming more international.
Executive MBA Programs
Executive MBA (EMBA) programs are designed for professionals that are already specialists in their field or industry are willing to Improve and sharpen their management skills to strengthen their expertise and continue rising up the corporate ladder.
The importance of Executive MBA has been rising in the recent years with more and more Employers asking their top managerial personnel to attain Executive MBA to sharpen and hone their Skills. In fact many of the Working Executives Pursuing EMBA Course is company sponsored as Global companies see a low-risk, high-return investment in sending their managers to executive MBA programs.
B schools are offering these unique Executive MBA training programs for working executives that are looking to advance to the highest levels of the corporate ladder to get in C-suite (CEO, CFO, and COO etc.) or entrepreneurial roles. EMBA Programs are available in full-time, part-time, campus-based, or online formats Depending on the business school.
To pursue EMBA Students may apply for Graduate Management Admission Council MBA loans, but however most EMBA participants are not eligible for more traditional graduate-school Stafford loans or grants.
The major Advantage of EMBA Course is that the curriculum is role-specific and focuses on developing a selected range of management skills resulting in immediate upgrade in title and salary. Although these programs are not meant for emerging business managers who want a well-rounded, comprehensive managerial degree and also not for those who lack considerable workplace experience.
One more Challenge related to EMBA Programs is need to maintain a balance due to Heavy Stress of Corporate Workload and mandatory Attendance at the weekends at classes. This may restrict family lives and add more stress to their Lives. Thus a need to Maintain Balance is a must that again is a managerial Skill. Thus the working managers can improvise by these Executive MBA Programs to keep rising up the Corporate Ladder.
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