Tuesday, August 19, 2014

IIM-Calcutta first to enter elite B-schools club

The Indian Institute of Management, Calcutta (IIM-C) is now in the elite list of 716 B-schools globally as Association to Advance Collegiate Schools of Business (AACSB) announced the new members of this exclusive club. With this IIM-Calcutta becomes the first IIM to receive this accreditation, which is considered to be the gold standard of by B-schools and less than 5% of the global business programme being accredited by it. IIM-C is only the third Indian B-school to be accredited by AACSB -- two other are Indian School of Business, Hyderabad and T A Pai Management Institute, Karnataka.

In all there are 716 B-schools across 48 countries which have received AACSB accreditation. Apart from AACSB, the other global accreditation bodies are Association of MBA (AMBA), European Quality Improvement System (EQUIS). IIM-Calcutta is already accredited by UK's AMBA.

Terming this as a big opportunity for the B-school, Saibal Chattopadhyay, Director, IIM-Calcutta said: "We have been waiting for this for a long time. To be assessed globally and then be a part of the exclusive club of 716 B-schools is a great opportunity. Therefore this is a major breakthrough for us."

IIM-Calcutta underwent five years of assessment by AACSB, and based on 21 standard assessments of which 19 are applicable to the B-school, as it don't offer any undergraduate programme, has been given accreditation for a period of five years.

"We all like to be a global player, to have international faculty and students and with this accreditation we will be a part of the top international network of B-schools. What helped us is that we think differently in our continuous improvement. We were assessed on our international research and their relevance, faculty and student quality, infrastructure, financial stability, among other. With this accreditation our responsibility has become many manifold. And indeed this is a huge opportunity for us to go global," added Chattopadhyay.

All accredited schools must go through a peer review process every five years in order to retain their accreditation. AACSB International also announced that ESPAE-Graduate School of Management (Ecuador), National Central University (Chinese Taipei), Newcastle University (United Kingdom) and the University of Canterbury (New Zealand) have earned accreditation in business, and Northumbria University (United Kingdom) has earned accreditation in accounting.

Source: The Times of India, August 19, 2014

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