Understanding MBA Accreditation: A Guide For Students
Whether you’re studying on campus or online, if you're pursuing a Master’s of Business Administration, it’s always worth ensuring you know what you’re getting. How do you do this? Accreditation. When a course is accredited it means that it’s been vetted for quality and the qualification of its instructors and lecturers.
But how can you be sure that the course you’re enrolling in is accredited? What do you look for? What does it mean? And is there much difference between an online MBA, and an accredited online MBA program ?
This short guide aims to answer all those questions and more.
Accredited MBA Programs
With business courses being some of the most competitive in the field, accreditations are sought after to give a particular MBA course a certain level of prestige and reputation. Accreditations are typically sought after by universities in an attempt to gain global exposure and as a result draw from a wider and more varied talent pool. Earning an accreditation is an indicator of success for many schools, and is a testament to the education body’s quality of education, resources, and lecturers.
Who Does The Accrediting?
There are several accreditation bodies, and schools that want to stand out as the cream of the crop will pursue approval from three in particular. This so-called "triple crown" accreditation is the golden standard for an educational institution to aspire to. As of June 2023, there are 124 triple-crowned educational bodies.
Considering the magnitude that this accreditation wields, you may be wondering who exactly is performing these accreditations. What are the standards? Whose seal of approval am I looking for?
Association to Advance Collegiate Schools of Business (AACSB)
The first name you should familiarize yourself with is the AACSB. This organization is global and nonprofit. It has been a recognized establishment since 1916 and is known for providing excellence in quality assurance, business education intelligence, and learning and development services to many business schools all over the world. The AACSB is sanctioned by the International Organization for Standardization (ISO), an independent, nongovernmental organization that establishes global standards for educational facilities all around the world.
European Quality Improvement System (EQUIS)
The EQUIS is an accreditation board that evaluates Peer Review reports on institutions applying for EQUIS accreditation. It is an organization founded by and composed entirely of respected individuals who provide a vast amount of experience in the management education sphere. The EQUIS Accreditation Board consists of a minimum of 12 and a maximum of 20 individuals at any given time. This accreditation board also provides the final decision as to whether or not an applying educational institution meets the rigorous standards required for EQUIS accreditation.
Association of MBAs (AMBA)
Established in 1967, the AMBA has been dedicated to "spearheading excellence and trailblazing innovation." It was formed by eight UK students who graduated from Ivy League universities in the USA. It was launched in London to improve the quality of education that students acquire in Business Schools around the world, as well as growing the number of institutions offering business education on a global scale.
Being successfully accredited by any one of these organizations is a huge achievement in and of itself, but to earn the coveted triple crown means infinitely more than a fancy certificate in a fancy frame. It means that not only does your school believe in its educational delivery, staff, resources, and faculties enough to have it rigorously tested by three different organizations; all of whom determine the legal standards of excellence in their field - it means that they passed those standards from all three bodies.
To earn the triple crown is no easy feat, and can take years of preparation, learning, and adaptation. When looking at a university for your MBA, if you see accreditation from any one of the organizations it is a testament to the value of their course - but to see all three truly separates the organization as a true maverick in the realm of business education.
A Seat At The Table
In summary, accreditation is crucial when choosing an MBA program. It's a quality mark, assuring that the education, faculty, and resources adhere to high standards set by global bodies like AACSB, EQUIS, and AMBA. Accredited MBAs offer better career opportunities and recognition in the job market. As a student, focus on accredited programs to ensure a valuable investment in your education and future career. This guide underscores that choosing an accredited MBA program is a key step towards a successful and rewarding career in business, providing a solid educational foundation to excel professionally.