Business Achieves Prestigious Equis Accreditation
25 November 2004
Otago School Of Business Achieves Prestigious Equis Accreditation
The University of Otago’s School of Business has been awarded the prestigious EQUIS accreditation by the European Foundation for Management Development (efmd) joining an elite group of international business schools.
EQUIS, the quality assurance body of efmd, has awarded full accreditation to the School of Business based on rigorous assessment criteria including research and development, students, programme quality, corporate connections, alumni and internationalisation. In its quest for accreditation the School of Business produced a self-assessment document which was assessed by a peer review of EQUIS academic and corporate officials. During the peer review the EQUIS delegation met with faculty and administrative staff from the School of Business and the University of Otago, students, alumni and corporate partners of the School of Business.
In its final report the EQUIS Peer Review team unanimously recommended the granting full accreditation to the University of Otago, School of Business stating: “the overall quality of the institution and the guarantee that its strategy and its policies are sustainable in the long-term fully justify the recommendation of the Peer Review Visit”. It went on to report the School of Business was “a fine institution which met EQUIS standards and deemed the School’s personal development for staff and students above standard”.
“With companies recruiting world-wide, students choosing to get their education overseas, and increasing international education alliances, there is a growing need for students and companies to be able to identify institutions in other countries that deliver high quality education in international management. EQUIS accreditation provides this stamp of international quality,” says Professor David Buisson, Dean of the School of Business.
The EQUIS accreditation offers the School of Business a formal international benchmark and ranks it among the best business schools world-wide. It is awarded with two distinctions – partial accreditation (three years) and full accreditation (five years). The School of Business has received the full five years accreditation.
There are currently less than 80 business schools globally that have EQUIS accreditation. These include London Business School (UK), Richard Ivey School of Business (Canada), Rotterdam School of Management (Erasmus University, Holland), HEC School of Management (France), and ESADE Business School (Spain). The School of Business has existing exchange programmes with many EQUIS schools.
As a member of the EQUIS accredited cluster, the School of Business will benefit from increased status and recognition internationally, excellent graduate opportunities, and improved international research opportunities. School of Business students and alumni will benefit from having an internationally recognised degree from an accredited business school.
“The School of Business’s EQUIS accreditation is part of its move towards the internationalisation of business education. There is anecdotal evidence from internationally accredited schools of a marked improvement in the quality level of staff applying for positions at the respective business school and trends are emerging of cohorts of international students who will only consider accredited schools to attend for their postgraduate study,” says Prof Buisson.
“Accreditation is a rigorous and demanding process – with no assured outcome. Institutions that earn accreditation confirm their commitment to quality and continuous improvement through a rigorous and comprehensive peer review.”
The School of Business is also seeking accreditation from the US-based Association to Advance Collegiate Schools of Business.
About EQUIS accreditation The European Quality Improvement System (EQUIS) is the quality assessment system run by the Brussels-based European Foundation for Management Development (efmd).
The scheme was set up by efmd to raise the standard for management education worldwide and to provide a benchmark for business schools in Europe. It is now one of the leading international systems of quality assessment, improvement and accreditation of tertiary business and management institutions.
Accreditation from this organisation effectively stamps business schools with a mark of international ‘peer reviewed’ quality and high standing in the global business school market.