Newswise — Babson College has received a full five-year EQUIS accreditation from EFMD. Currently, only three U.S. schools are accredited by EQUIS. This action brings the number of accredited schools to 115 across 33 countries.
"We are pleased to received accreditation for a five-year period from EQUIS. This honor, the highest level of accreditation, recognizes Babson's commitment to excellence in all facets of global business management education," said Babson President Leonard Schlesinger.
"The EQUIS global accreditation is a testament to the academic success of Babson College. This highest honor from EQUIS comes only after an extensive examination of Babson's educational operation," said Babson Prof. Shahid Ansari, Dean of Faculty and Acting Provost.
"The EQUIS accreditation reflects Babson's achievements and recognition in this interdependent, global society," said Thomas T. Stallkamp, Chairman of the Babson Board of Trustees.
Prof. Eric Cornuel, CEO of EFMD, said, "From its inception, EQUIS has targeted top-quality international business schools. EQUIS started as a European initiative for the benchmarking and accreditation of business schools but it is now the leading global accreditation system. EQUIS has had an enormously positive impact on the quality of management education worldwide."
EQUIS was created in 1997 by a mandate of EFMD's member business schools including Bocconi, HEC Paris, IESE, IMD, INSEAD, ESADE, London Business School, and Rotterdam School of Management and was inspired by the need to develop an international accreditation system for those business schools, wherever they were in the world, that were trying to make an impact beyond their domestic frontiers.
EQUIS is not primarily focused on the MBA or any other specific program. Its scope covers all programs offered by an institution from the first degree up to the Ph.D. Institutions that are accredited by EQUIS must demonstrate not only high general quality in all dimensions of their activities, but also a high degree of internationalization. With companies recruiting worldwide, with students choosing to get their education outside their home countries, and with schools building alliances across borders and continents, there is a rapidly growing need for them to be able to identify those institutions in other countries that deliver high quality education in international management.
Another distinctive feature of EQUIS is closely related to its European origin: appreciation for diversity. While it might be thought that the EQUIS model would be based on the typical European business school, there is in fact no such a thing. A consequence of this is that EQUIS does not flood a school with requests for a lot of specific data provided in a regulated way. EQUIS is more like a consultant trying to assess the magnitude of a problem or an achievement.
EQUIS also believes that business schools should be as closely connected to the real world of business as schools of medicine are to working hospitals. There must be a balance between high academic quality and the professional relevance provided by close interaction with the corporate world. EQUIS attaches particular importance to the creation of an effective learning environment that favors the development of students' managerial and entrepreneurial skills, and fosters their sense of global responsibility.
Prof. Julio Urgel, the Director of EQUIS, said, "Graduates who choose to study at an EQUIS accredited school can be assured they are attending an institution with high international standards of quality, a significant level of internationalization, a balance between high academic quality and professional relevance and that the needs of the corporate world are well integrated into programs, activities and processes. Finally and most importantly, students can be assured that they will receive international recognition for their qualification, which is extremely important in today's global environment."
More information is available at http://www.efmd.org/equis.
About EFMD
EFMD advances excellence in management development in Europe and worldwide by building links between leading business schools and companies, creating and disseminating knowledge on best practices and changing trends and providing access to benchmarking tools and accreditations (EQUIS, EPAS, CEL, CLIP). With more than 700 member organizations from academia, business, public service and consultancy in 80 countries, EFMD provides a unique forum for information, research, networking and debate on innovation and best practice in management development.
About Babson
Babson College in Wellesley, Mass., is recognized internationally as a leader in entrepreneurial management education. Babson grants BS degrees through its innovative undergraduate program, and grants MBA and custom MS and MBA degrees through the F.W. Olin Graduate School of Business at Babson College. Babson Executive Education offers executive development programs to experienced managers worldwide. For information, visit www.babson.edu.
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