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Triple accreditation

Triple accreditation (or Triple Crown accreditation) is the accreditation awarded to 77 business schools worldwide as of October 2017 (up from 74 in May 2016)[1] by the three largest and most influential business school accreditation associations:

Number of schools with single, double and triple (AACSB-AMBA-EQUIS) accreditation outside North America.[when?]

Of the 13,670 schools offering business degree programs worldwide,[2] only 70+ have triple accreditation as of April 2016.

The diagram on the right shows the 54 triple-accredited schools outside of North America as of March 2012. Another two triple-accredited schools used to be found in Canada, bringing the worldwide total to 56 in 2012. For AACSB, the diagram interpretation is as follows: 53 schools are accredited only by AACSB; a further 7 are accredited by AACSB and AMBA; another 23 are accredited by AACSB and EQUIS; and 54 are accredited by all three accrediting bodies (outside of North America).

A major reason for the small number of triple-accredited institutions in the world is the requirement of the Association of MBAs that AMBA-accredited business schools should only admit MBA applicants with at least three years of full-time post-graduation work experience.[3] Some analysts claim that most top US business schools cannot meet this criterion as they sometimes (though rarely) admit applicants with only a bachelor's degree and little or no work experience. They claim that it is why triple-crown accreditation is pursued primarily by European institutions.[4] However, it is not the case when some (former) triple accredited institutes, City University of Hong Kong for example, only require applicants having "relevant work experience is desirable (though not specifically required)".[5]

Differences in accreditation

Each of the three institutions assesses a business school according to different criteria and scope:[6][7][8]

Scope of business school accreditation for AACSB, EQUIS and AMBA
  • Scope of accreditation
AACSB has the broadest scope, as it accredits management and accounting programs at the entire university (e.g. management programs at the business school and the school of engineering) and grants university-wide accreditation.
AMBA has the most focused scope as it accredits only the business school's portfolios of MBA programs (full-time, part-time, executive, distance-learning), MBM programs (including MSc International Management) and DBA (also known as DMgt in China).
EQUIS's scope ranks in the middle, as it accredits the business school but not the university and not specific portfolios of programs.
  • Duration of the accreditation process
AACSB: 2–7 years
AMBA: 9–18 months
EQUIS: 2–3 years
  • Reaccreditation
AACSB: full re-accreditation every 5 or 10 years (the 10-year accreditation is being phased out)
AMBA: full re-accreditation every 3 or 5 years (1-year accreditation is a possible outcome of reaccreditation in exceptional circumstances)
EQUIS: full re-accreditation every 3 or 5 years
  • School audit team
AACSB's peer review team includes deans and business school administrators.
AMBA's assessment team includes deans, associate deans, program directors and one AMBA representative.
EQUIS's team includes three deans and one corporate representative.
  • Evaluation report content
AACSB's report reflects compliance with the AACSB standards
AMBA's report includes compliance with criteria, conditions and recommendations
EQUIS's report reflects compliance with the EQUIS standards
  • Criteria/Standards size
AACSB: 77 pages for Business Accreditation; 36 pages for Accounting Accreditation
AMBA: 24 pages (9 pages for MBA; 9 pages for MBM; 6 pages for DBA)
EQUIS: 71 pages
  • Quantitative vs Qualitative
AACSB has more quantitative criteria (checklists)
AMBA has more qualitative criteria
EQUIS is in the middle (between AACSB and AMBA)
  • Internationalization
AACSB conducts the evaluation against the school's own mission, so AACSB has no internationalization requirement unless internationalization is part of the school's mission.
AMBA has internationalization criteria for research, curriculum and student enrolment. However, these are reviewed in a regional context for less internationalized regions (e.g. Latin America and Russia).
EQUIS has strict requirements on internationalization.
  • Faculty numbers
AACSB: prescribed faculty ratios (AQ/PQ ratio)
AMBA: no prescribed faculty-to-students ratio
EQUIS: prescribed minimum numbers of faculty

Feb 2014 Survey Results among MBA applicants, in response to the question: "Which of the following accreditations is/was most important to you when choosing a business school?" [9]

  AMBA (45.81%)
  AACSB (18.23%)
  ACBSP (7.88%)
  EQUIS (12.32%)
  EPAS (4.43%)
  Other (11.33%)
  • Visiting faculty
AACSB disapproves of heavy use of visiting faculty.
AMBA allows the visiting faculty model, as long as the visiting faculty are managed by the core faculty (and as long as the quality and course content is monitored).
EQUIS disapproves of heavy use of visiting faculty.
  • Research
AACSB requires research in line with the mission of the school.
AMBA requires research and publications in international refereed journals or proof of impactful research at national level.
EQUIS requires research with an international dimension.
  • Program-specific criteria
    AACSB has no program-specific standards since it evaluates the entire university.
    AMBA has program-specific criteria such as:
    • at least 3 years of full-time work experience for all admitted MBA students;
    • at least 500 contact hours (scheduled class hours) for a full-time MBA curriculum and a minimum of 120 contact hours for a distance-learning MBA;
    • at least 20 students enrolled in an MBA program;
    EQUIS has some program-specific standards in the context of the evaluation of the entire business school.
  • Accreditation fees
AACSB: 47,000 USD for initial business accreditation (or 63,500 USD for both business and accounting accreditation). In addition, an annual business accreditation fee is charged: 4,500 USD annually for a 5-year accreditation cycle or 2,500 USD annually for a 10-year accreditation cycle.[10]
AMBA: 22,000 GBP for initial accreditation or 15,000 GBP for re-accreditation.
EQUIS: 52,800 EUR for a 5-year initial accreditation or re-accreditation and 46,200 EUR for a 3-year initial accreditation or re-accreditation.[11]

Schools

There are 75 triple-accredited schools based in 30 countries and territories as of July 2016:[12][13][14]

Argentina

 Argentina

Australia

 Australia


Austria

 Austria

Belgium

 Belgium

Brazil

 Brazil

Canada

 Canada

Chile

 Chile

China

 China

Colombia

 Colombia

Denmark

 Denmark

Egypt

 Egypt

Finland

 Finland

France

 France

Germany

 Germany

India

 India

Ireland

 Ireland

Italy

 Italy

Mexico

 Mexico

The Netherlands

 Netherlands

New Zealand

 New Zealand

Norway

 Norway

Peru

 Peru

Poland

 Poland

Portugal

 Portugal

Slovenia

 Slovenia

South Africa

 South Africa

Spain

 Spain

Sweden

 Sweden

Switzerland

  Switzerland

UK

 United Kingdom

Venezuela

 Venezuela

Top schools without triple accreditation

Many of the world's top business schools are not triple-accredited, while several schools that appear low in the rankings have triple accreditation.

One reason for this is that some of the top business schools choose not to incur the financial cost of international accreditation and rely only on accreditation by their national accrediting body (usually the country's education ministry).

Another reason is that the top schools in some regions do not meet one or more of the detailed criteria of the accrediting institutions and choose not to amend their policy. Notable examples are all top US business schools: Harvard Business School, Wharton, Stanford GSB, Columbia Business School, Chicago Booth, Tuck School of Business, etc., which do not meet AMBA's mandatory three-year student-work-experience requirement for all MBA applicants.

A third reason is that the 509 schools that have obtained AACSB accreditation in the US and Canada (either via the standard accreditation process or via the granting of accreditation based on their reputation as top schools) do not look outside of North America for further validation, such as through European or British accreditation.

See also

References

  1. ^ "Triple accredited business schools (AACSB, AMBA, EQUIS)". MBA Today. 
  2. ^ The Economist. Oct 15th 2011. "Is time running out for business schools that aren’t quite elite?"
  3. ^ AMBA. "MBA Accreditation Criteria 2016". p. 3. 
  4. ^ "Andreas Kaplan: European Management and European Business Schools: Insights from the History of Business Schools". European Management Journal. 32: 529–534. doi:10.1016/j.emj.2014.03.006. 
  5. ^ "MBA Admissions Requirements, City University of Hong Kong". 
  6. ^ AACSB Standards [www.aacsb.edu]
  7. ^ AMBA Criteria [www.mbaworld.com]
  8. ^ EQUIS Standards and Criteria [www.efmd.org]
  9. ^ CarringtonCrisp report titled "Tomorrow's MBA", February 2014
  10. ^ [www.aacsb.edu]
  11. ^ [www.efmd.org]
  12. ^ AMBA-accredited schools: [www.ambaguide.com]
  13. ^ AACSB-accredited schools: [www.aacsb.edu]
  14. ^ EQUIS-accredited schools: [www.efmd.org]
  15. ^ [bss.au.dk]
  16. ^ [handels.gu.se]