EFMD and AACSB Announce Strategic Alliance Agreement

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ec-jfEFMD and the Association to Advance Collegiate Schools of Business (AACSB), two of the most influential voices in management education, have joined together for a second strategic alliance agreement, to improve the effectiveness and efficiency of the accreditation process for schools holding both AACSB and EFMD's EQUIS accreditation.

In the past ten years, management education has become a leading global industry with over 14,000 business degree granting institutions in more than 200 countries. During this period, AACSB and EFMD (with EQUIS & EPAS accreditation) have emerged as the most prestigious and sought after business school accreditations around the globe.

AACSB and EFMD began their original agreement in 2002, with both organizations pledging to periodically hold joint educational programs, share data, and cooperate on initiatives. Three initiatives were held and in 2004, the Global Foundation for Management Education (GFME) was formed to identify and address challenges and opportunities in management education worldwide, as well as advance its quality and content.

This second agreement, effective 1 October 2012, calls for AACSB and EFMD to refine their priorities of furthering global management education by continuing to conduct joint educational offerings, sharing data, and advancing the efforts of the GFME. "Our primary objective is to advance global management education quality through research, guidance, and information," said John J. Fernandes, president and chief executive officer of AACSB International.

"The last 10 years has seen remarkable growth in the management education sector and EFMD & AACSB have played a major role in the development of management education around the world. As the two leading global networks, we offer many opportunities for business schools and companies to exchange, share, form partnerships, collaborate on research and engage in quality improvement via accreditation and mentoring. Our alliance is strong and we hope it brings lasting value to our community and also opens our networks to many new business schools around the world," said Prof. Eric Cornuel, CEO & Director General of EFMD.

Since the 2002 agreement, the role of business as a sustainable and socially-responsible enterprise comprised of ethical stakeholders, has risen consistently with the world's demand for accountability. AACSB and EFMD, through their accreditations and services, are important stakeholders in addressing society's objectives of sustainability, social responsibility and ethical leadership.

About AACSB International
AACSB International (The Association to Advance Collegiate Schools of Business), founded in 1916, is an association of more than 1,300 educational institutions, businesses, and other organizations in 83 countries and territories. AACSB's mission is to advance quality management education worldwide through accreditation, thought leadership, and value-added services. As the premier accreditation body for institutions offering undergraduate, master's, and doctorate degrees in business and accounting, the association also conducts a wide array of conferences and seminar programs at locations throughout the world. AACSB's global headquarters is located in Tampa, Florida, USA and its Asia Pacific headquarters is located in Singapore.

About EFMD
EFMD is an international membership organization, based in Brussels, Belgium. With more than 800 member organizations from academia, business, public service and consultancy in 82 countries, EFMD provides a unique forum for information, research, networking and debate on innovation and best practice in management development. EFMD is recognized globally as an accreditation body of quality in management education and has established accreditation services for business schools and business school programmes, corporate universities and technology-enhanced learning programmes.

For more information, please visit: www.aacsb.edu or www.efmd.org