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Top honors for business schools around the world: Why are there only 129 schools with triple accreditation?
In the global arena of business education, triple accreditation (also known as the triple crown of business school honors) represents the standard of excellence and top status. This accreditation is obtained through three major international accreditation bodies: the Association to Advance Collegiate Schools of Business (AACSB) in the United States, the Association of MBAs (AMBA) in the United Kingdom, and the European Quality Improvement System (EQUIS) in Belgium. According to the latest data, as of April 2, 2024, only 129 business schools worldwide have achieved this standard of excellence.
The triple accreditation is not only a mark of the school's quality, but also its commitment to students, society and academia.
Triple Certification Standards
Each certification body has its own unique assessment criteria and scope, below is a brief introduction to the three bodies:
AMBA accreditation focuses on Master of Business Administration (MBA) programs, evaluating their teaching quality, curriculum design and students' career development.
AACSB accreditation is for the entire business school, with the goal of highlighting its commitment to strategic management, learner success, thought leadership and societal impact. Since 2020, the institution has placed a greater emphasis on diversity and inclusion.
EQUIS accreditation also assesses the overall quality of business schools, emphasizing the school's sustainability and commitment to self-improvement.
Certification in the United States
Despite the global presence of all three organizations, many U.S.-based business schools choose to pursue AACSB accreditation alone. This choice was influenced by the perception within the United States of the adequacy of AACSB accreditation. For example, US business schools usually do not meet the AMBA's admissions criteria for MBA students who have three years of work experience.
Top Business Schools in Various Countries
There are currently 129 triple-accredited business schools in the world, located in many countries. The following are representative schools in some of these countries:
- Argentina: IAE Universidad Austral, Buenos Aires
- Australia: Queensland University of Technology, Monash University, University of Sydney Business School
- China: Antai College of Economics and Management, Shanghai Jiao Tong University, Beijing Institute of Technology, etc.
- United States: Hult International Business School, Miami University Herbert School of Business, etc.
- UK:Adam Smith Business School, University of Glasgow, University of Manchester, etc.
Triple accredited schools
It is worth noting that there are eleven business schools that once had triple accreditation but no longer meet the standard, such as City University of Hong Kong and ESCP Business School in France. This shows the challenges and efforts business schools face in maintaining accreditation.
ConclusionObtaining triple accreditation is a significant honor for a business school, however, behind this achievement, there are also countless challenges and review processes. In the future, as the education market changes and demands become increasingly diversified, how can business schools continue to improve their education quality and influence?
