New Delhi: The Indian Institute of Management (IIM) is now the tenth Indian institution to acquire the Association to Advance Collegiate Schools of Business (AACSB) accreditation.
The AACSB, also known as the Association to Advance Collegiate Schools of Business, is an organisation that certifies business schools all around the world and recently, the IIM Indore has bagged the AACSB accreditation.
Expressing his satisfaction, IIM Indore's director, Himanshu Rai, said that IIM Indore is honoured to be one of the select few to hold AACSB accreditation.
He continued by saying that it was the consequence of their consistent efforts to create a world-class institution that was both culturally relevant and socially responsible.
Among the most important criteria used in the AACSB assessment and accreditation process are academic quality, research infrastructure, and curriculum development.
The AACSB accredits B-Schools all around the world and is one of the oldest existing business school accreditation systems still in use today.
Only 5% of the management institutes across the globe have AACSB accreditation.
The only institutions in India to have previously received the prestigious accreditation are SPJIMR Mumbai, IIM Udaipur, ISB Hyderabad, IIM Calcutta, Narsee Monjee Institute of Management Studies (NMIMS Mumbai), Xavier School of Management (XIME), T. A. Pai Management Institute (TAPMI), IFIM Business School and IMT Ghaziabad.
Since AACSB is considered the highest standard for business school quality, just 836 institutions from 55 different countries continue to hold this accreditation.
AACSB, which was founded in 1919, bases its 15 evaluation criteria on the mission, innovation, and social effect of business schools. Institutions are motivated to work harder toward innovation and academic achievement by this status quo.
Prior to receiving AACSB accreditation, IIM Indore received the Association of MBAs' 2019 Business Excellence Award for its contributions to research and efforts to promote business growth in rural areas.
The University of Macau, Texas A&M University-Texarkana, Lahore University of Management Sciences, and the University of Agder have all recently received accreditation from AACSB for their expertise in business education.
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