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AACSB Business Accreditation Standards: Updates 2023

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AACSB Business Accreditation Standards: Updates 2023

AACSB significantly updated its Business Accreditation Standards in 2020.  Since then it issues annual amendments and updates – usually on 1 July.

QED’s overview of the updates made as part of the 2023 publication, together with an assessment of the significance of the change can be found in this downloadable PDF file.

The updates reflect clarification and additional explanation. These should not provide any significant change for schools.

As always, QED recommends that all schools within an AACSB accreditation process (whether initial or renewal) should review and ensure they have understood the changes and clarifications – particularly to ensure the updates do not highlight any potential internal misunderstanding of AACSB principles and standards.

NB: QED’s material represents QED’s interpretation of the AACSB Updates.  We always recommend that you view the updated standards directly – which are available from AACSB’s website in the following formats: 

As above, QED’s summary of the updates across the key documents is available in this downloadable PDF file.

For advice and further details on any of the above, please contact the QED Accreditation Team at info@QEDaccreditation.com.

EFMD Programme Accreditation: Updates 2023

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EFMD Programme Accreditation: Updates 2023

EFMD revises the documentation supporting EFMD Programme Accreditation periodically and updates are usually provided in the first third of each calendar year.  QED’s overview of the updates made as part of the 2023 publication, together with an assessment of the significance of the change can be found in this downloadable PDF file.

The 2023 updates are not significant and focus on providing additional clarity and guidance in key areas.

NB: This document represents QED’s interpretation of the EFMD Accredited Updates.  We recommend that you view the updated documents directly – which are available from EFMD’s website

As above, QED’s summary of the updates across the key documents is available in this downloadable PDF file.

 

For advice and further details on any of the above, please contact the QED Accreditation Team at info@QEDaccreditation.com.

EQUIS: Updates to standards and guidance 2023

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EQUIS Standards and Guidance: Updates 2023

EFMD revises the documentation supporting EQUIS periodically.  QED’s overview of the updates made as part of the 2023 publication, together with an assessment of the significance of the change can be found in this downloadable PDF file.

  • There are no significant changes to the EQUIS Standards and Criteria, though clarification and guidance points have been added in several areas.  However, there are some process changes which should be noted by Schools:
    • The traditional Base Room has been replaced by an Online Document Repository (ODR)
    • In several discreet areas, additional documents are now specifically required in English, rather than a School’s native language (These were optional in previous years).
    • In some key areas, EFMD has confirmed that it is appropriate to cross-reference from the SAR to the Datasheet (where information may be duplicated).

    Other points of potential significance are:

    • In exceptional circumstances, the post-eligibility period may be extended from two years to four years.
    • References to the EFMD Guidelines and Position Papers have now been removed from the Standards. In addition, these documents have been removed from the section of the website dealing with EQUIS accreditation.
    • Key EQUIS fees have increased by 10% (Application Fee, Eligibility Fee, Review Fees.

As above, QED’s summary of the updates across the key documents is available in this downloadable PDF file.

For advice and further details on any of the above, please contact the QED Accreditation Team at info@QEDaccreditation.com.

Image for article on MBA degrees

New article – Managing MBA Degree Offers as a Portfolio

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Image for article on MBA degreesRead a recent article that calls for greater focus on degree connectivity when managing MBA offerings. The article has been co-authored by Ulrich Hommel (Xolas), Joanne Powell (QED) and Sarah Hardcastle (Hardcastle and Associates); and published in MBA International Review, Nr. 82, pp. 14-16.   A copy of the article is also available here.

This article focuses on the advantages of managing a portfolio of MBA degrees as a portfolio. Whilst this might sound tautological, it reflects our experience that many business schools continue to run MBA programs on a relatively stand-alone basis, which can be explained by path dependency or internal governance arrangements. More typical is what we term the traditional portfolio approach, a focus on increasing gross revenue returns via market segmentation and realizing cost economies by pooling activities across programs.

We suggest a complementary and generally overlooked viewpoint that offering MBA programs with within portfolio connectivity in mind can help to realize revenue (and additional cost) synergies that increase gross returns in the aggregate. They will “carry the day” if outweighing the opportunity cost of de-segmentation of the overall offer.

Email QED to learn more

QED Advisor nominated for LIFT Award

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QED advisor,  Joanne Powell, has been nominated for a LIFT (https://liftireland.ie/) award in the leadership category of Competence. Her nomination included reference to her “love for learning and self improvement and implementing change for the betterment of the organisation” and also noted that she “is highly respected and hugely trusted because of her competency.

LIFT Ireland is a social enterprise aimed at increasing the level of positive leadership in Ireland.  All nominations are being reviewed in the coming weeks, with the shortlist being announced in early January, before the live awards ceremony (date tbc).  To learn more about the LIFT values and LIFT process, visit https://liftireland.ie/about/

Email QED to learn more

Accreditation Fees & Costs – Nov 2022

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Accreditation Costs

There are several facets to the costs of accreditation:
  1. Payments made to the relevant accreditation bodies and comprise a mix of membership fees, accreditation fees and other expenses etc.  These are relatively fixed and easy to estimate (see link below).
  2. Staffing and advisory costs to support accreditation.  These are harder to estimate, and depend on several factors. For example:
    • Will there be an accreditation team with sufficient time and experience to manage the full accreditation process?
    • Are there additional faculty allowances given to accreditation?
    • Will the School require some external input, to support the internal resources?
  3. Investment Costs:  These vary hugely from school to school and naturally depend on each School’s strategic priorities.  Of course, strategic investment costs are not always linked to accreditation: Some strategic decisions will be made regardless of accreditation plans.  Others may only be made as a consequence of accreditation.

QED has listed the costs and fees associated with each of the accreditation bodies (#1 above), valid as of 11 November 2022.  These can be viewed here.

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