AACSB floats new accreditation norms for B-schools
With a focus on innovation, impact and engagement, Association to Advance Collegiate Schools of Business (AACSB) International upped their accreditation norms after an entire decade.
The fast-paced changes in global scenario call for more leadership roles in management education and hence the move, said a source inside the apex body.
AACSB, through its proposed accreditation standards is calling on business schools to lead the change in the development of ethical, sustainable, and socially responsible leaders and enterprises, said a release.
The new AACSB standards have given a three-pointer impetus to innovation, impact and engagement. Innovation refers to create and sustain value for students, employers, and the communities they serve; impact means to go beyond quality and ensure that business schools also have an impact through both scholarly education and the creation of new knowledge; and engagement refers to interaction between faculty, students, and business professionals, fostering meaningful intersections to create and share knowledge that is both scholarly and relevant to practice.
"Business schools are at a time of unprecedented change. To remain current, leaders within the industry had to stand back and evaluate where management education needed to go," said Joseph DiAngelo, chair of the AACSB Board of Directors and dean of the Erivan K Haub School of Business at Saint Joseph's University. "Throughout this process, we looked deeply at the marketplace to determine new routes to relevance, to ensure business schools are developing the type of leaders that society needs for the future. The changes will keep business schools at the heart of global commerce."
