Accreditations will ensure that a B-school meets the standards in maintaining quality course content, teaching quality and providing facilities to the enrolled students.
International Accreditations
Association to Advance Collegiate Schools of Business (AACSB) is the primary accreditation body in the USA. EQUIS is the accreditation body in Europe while the Association of MBA (AMBA) is the accreditation body in the UK. Out of the three bodies mentioned, two accredit entire business schools – AACSB and EQUIS – while AMBA accredits individual programs.
Accreditations in India
In India, two Government accreditation bodies namely National Board of Accreditation (NBA) represented by he All India Council for Technical Education (AICTE) and the National Assessment and Accreditation Council (NAAC) are responsible for MBA accreditations.
AICTE is the main accreditation body for management schools all over India. Founded by the Ministry of HRD, it recognizes programs based on certain parameters such as resource availability, course-structure, infrastructure and credibility of Institutional Management providers and other factors.
An important point to be considered; since AICTE is acknowledged internationally, management programs accredited by it will have international recognition and status. Students planning to pursue a PhD or a Fellowship abroad in future, it is important that they make sure that they opt for an AICTE approved course.
List of All India Council for Technical Education (AICTE) B-Schools in India include:
• Audyogik Shikshan Mandal’s Institute of Business Management & Research, Pune
• K.J. Somaiya Institute of Management Studies and Research, Mumbai
• MET Institute of Management, Mumbai
• M. G. M. Institute of Management, Aurangabad
• N. L. Dalmia Institute of Management Studies and Research, Mumbai
• Welingkar Institute of Management Development & Research, Mumbai
Set up in 1994 and Headquartered in Bangalore, NAAC is an autonomous body founded by the University Grants Commission (UGC) of India to evaluate and accredit institutions offering higher education in the country. Many top-ranked business management schools in India are accredited by National Assessment and Accreditation Council. Keeping quality at the centre, NAAC emphasises the central element of higher education in India through promotion, self and external quality evaluation and sustenance initiatives.
List of Business schools that are NAAC accredited include:
• Narsee Monjee Institute of Management Studies, Mumbai
• Sree Saraswathi Thyagaraja College
Importance of Accreditations
An MBA accreditation is a stamp of quality of a B-school. It tells about the reputation and resourcefulness of an institution. Companies perceive this to be recognition from the trusted body which assures quality.
Top employers not only look for an MBA degree but its worth in terms of program quality and reputation than peers. This gives them a measurability and impact of a candidate’s MBA degree in the market and they can be assured of their hiring investment.
However, this does not certify that if a B-school does not endorse its accreditations or even if they do not have any accreditations, the school is inferior. Like with MBA rankings, a program’s suitability for each individual applicant depends entirely on what that applicant hopes to achieve.
Accreditation is not the only criteria to choose an MBA program but an indication that a B-school is reputed with right quality one should consider.
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