Indian School of Business Wins AACSB Accreditation
The Association to Advance Collegiate Schools of Business (AACSB) last week accredited the Indian School of Business (ISB), making the Indian school the first in South Asia to be recognized by the American-based accrediting organization.
“We are delighted to have received the prestigious AACSB accreditation, which is regarded as the hallmark of excellence in business education,” ISB Dean Ajit Rangnekar said in a statement. “We are confident that this recognition will translate into increased interest by the international community comprising of faculty, students and recruiters, and help us chart Asia’s and India’s growth as the global management education hub,” added.
AACSB accreditation has been earned by less than five percent of the world’s business schools, ISB reports. Of the 643 business schools currently accredited by the global organization, the vast majority are in the United States. To achieve AACSB accreditation, schools must undergo a process of rigorous internal review, evaluation and adjustment and meet a series of high standards, including demonstrating a high quality teaching environment, a commitment to continuous improvement and curricula responsive to the needs of businesses.
According to the Financial Times, ISB’s accreditation could pave the way for increased competition between the two principle international accreditation bodies, AACSB from the United States and Equis from Europe. Equis already accredits two Indian business schools, the Indian Institutes of Management in Ahmedabad and Bangalore. The FT anticipates that the two accrediting bodies are likely to see a surge in applications from other institutions as Indian business schools try to carve a role on the global stage.