IIM (Indian Institute of Management) Indore becomes the 10th institute in India to get accreditation from AACSB. Association to Advance Collegiate Schools of Business, popularly known as AACSB, is an organisation that accredits business schools globally.
Himanshu Rai, Director of IIM Indore exclaimed with joy that IIM Indore feels delighted to be a part of the limited number of institutions accredited by AACSB. He also added that it was a result of their sustained effort to be a contextually relevant and also socially conscious world-class institution.
Academic quality, research facilities and curricula development are some of the key parameters of AACSB assessment and accreditation process. AACSB accredits B-Schools globally and is the oldest existing Business school accreditation system that operates even today. Only 5% institutes across the globe have AACSB accreditation.
In India, institutes like SPJIMR Mumbai, IIM Udaipur, ISB Hyderabad, IIM Calcutta, School of Business Management (NMIMS Mumbai), Xavier School of Management, T. A. Pai Management Institute, IFIM Business School and IMT Ghaziabad are the only institutions in India to receive the prestigious accreditation previously.
AACSB is identified as the highest standard of b-school quality thus, only 836 institutions from 55 countries maintain this accreditation. Founded in 1919, AACSB’s 15 evaluative standards focus towards b-school’s mission, innovation and impact on society. This status quo inspires institutions to work more towards innovation and academic excellence.
Before AACSB accreditation, IIM Indore also won Business Excellence award in 2019 from the Association of MBAs for contributing to research and works towards business development in rural areas.
AACSB has recently announced that Texas A&M University–Texarkana, Lahore University of Management Sciences, the University of Macau and the University of Agder has also earned accreditation for excellence in business education.