ACCREDITATION OF MBA & BUSINESS SCHOOLS
There is no denying to the fact that around the globe business studies is one of the most expensive branches of study. So, when you have planned to spend so much money on your education, you should make the choice wise enough to get good return from it. MBA degree is a passport to an international corporate career. Thankfully, you can study for a part-time MBA degree in Singapore as there are many part-time MBA programs which cater to busy working executives. Choosing the right business school Singapore is the first step towards securing a bright future. While choosing a business school Singapore, the following questions should have crossed your mind.
- Is this a reputed business school Singapore?
- Are their programs up to the standard?
- Is their Master Programs Singapore well recognized by the companies?
- How much value would this institute add to my CV?
Universities and MBAs in Singapore are gaining recognition worldwide, not only are there more students in Singapore embarking on postgraduate education, the number of international students are also increasing every year in these institutes. More MBA courses are expected to be launched in the near future but greater choices meant that prospective students needs to do more research before making their decision to ensure they select a recognized and ACCREDITED MBA in Singapore.
Students participating in the Executive Master or Part-time MBA Programs may also worry about – how much participating in the program would help them in advancing in their career? Or, what impression would it create on the employers? Apart from the above issues, affordability and accreditation of the course are other worries for students considering MBA in Singapore. Master Programs Singapore are expensive courses and costs are also likely to vary even between the Universities in Singapore. Apparently, the most prestigious courses tend to be more expensive.
Whilst Accreditation is not compulsory for business schools who offer MBA, proper Accreditations does served its role as the academic watchdog of university business programs and an endorsement of the academic quality and relevance of its qualification.
Currently whilst there is no single independent source of reference for recognition of MBA Programs across the world, business schools that are accredited by one of the 5 leading premier accreditation bodies in US, Europe and UK are often highly regarded by employers and academia. A business degree or MBA emblazoned with one of the 5 international accreditation body will be extremely valuable passport to a high flying career in the highly competitive corporate environment
There are 5 premier accreditation bodies are as follow.
AACSB: AACSB stands for Association to Advance Collegiate Schools. AACSB International was founded in 1916 and began its accreditation function with the adoption of the first standards in 1919 the accreditation of AACSB is widely recognized and all the top business schools of the USA seek accreditation from AACSB. It is also widely recognized amongst industries as the hallmark of a quality graduate education.
EQUIS: The European body to recognize excellence and ensure standard of the business schools. EQUIS stands for European Quality Improvement System; accreditation is done through its parent accreditation body, European Foundation of Management Education, highly respected as the leading authority in Europe for Management Education.
Executive MBA Council: It was established with support from the AACSB with the objective of ensuring advancement of the Executive Master Programs through partnership and research. Currently there are over 200 schools approved and accepted by Executive MBA Council. Aventis School of Management, the premier business school in Singapore, is also a member of this prestigious association.
ACBSP: Founded in 1988, ACBSP was recognized by the U.S. Department of Education as a specialized accreditation agency for business education. ACBSP key focus is on accrediting business schools with an emphasis on teaching and learning. ACBSP accredited status requires an ongoing effort to provide excellent teaching & learning resources for students.
Last but not least, Association of MBAs (AMBA) is the only recognized UK Based accreditation bodies in Singapore that recognized and accredit business schools offering MBAs, as a UK Oriented Accreditation body, most of the MBA programs in UK are accredited by Association of MBA.
More Accreditation = Best?
Whilst having accreditation status does offer prospective students assurance of the quality and recognition of a MBA program. It does not necessary meant that schools with multiple accreditations are more recognized than those with only 1 or 2 accreditation. Accreditations are voluntary, business schools and universities focus and pursue specific accreditations that best serve their mission. Typically most public universities are research-oriented and will pursue accreditation such as AACSB and AMBA which emphasize on research publications and citation. Private Universities which are teaching oriented focusing on the learning outcome of its graduates will pursue accreditations such as ACBSP and EQUIS which includes
Each accreditation body is independent and has a specific set of benchmark and guidelines that are representative of the peer consensus of the geographic region , thus renowned US MBAs are either AACSB or ACBSP accredited, whilst MBA in Europe are typically EQUIS Accredited and UK universities, AMBA accredited. As with good food, more accreditations typically meant that the university has to meet the different accreditation requirements of different countries which might constrain and clipped the wings of business schools that are bounded by the stringent requirements of different accreditation bodies and affects the delivery quality or program curriculum.