Changing Perceptions About Business Education & The

"CHANGING PERCEPTIONS
ABOUT BUSINESS EDUCATION

& THE WAY AHEAD"
A FOCUS ON RECENT CHANGES AT AACSB
INTRODUCTION & BACKGROUND
INFORMATION
• ASSOCIATION TO ADVANCE COLLEGIATE SCHOOLS OF BUSINESS(AACSB)
• A HUNDRED YEAR-OLD INSTITUTION
The Association to Advance Collegiate
Schools of Business (AACSB) Accreditation
• 2013 AACSB Accreditation Standards are important as reference material including
• Updated again in 2017(July)
• Key changes introduced to address criticisms of experts
• Idea is to inculcate business leadership qualities in candidates
• Balance of hard & soft skills
• 15 standards each addressing a key area; we discuss 1-9 today
• http://www.aacsb.edu/-/
media/aacsb/docs/accreditation/standards/business-2017-update.ashx?la=en
• Working/conference papers, & documents of Arkansas State University, &
Sacramento State Univ.
RIVAL ORGANIZATIONS IN THE
BUSINESS OF ACCREDITATION
• ACBSP (Accreditation Council for Business Schools and Programs),
• NASPAA (Network of Schools of Public Policy, Affairs, and Administration)
• Competition, & accreditation for accreditation organizations: instances of
govt. agencies derecognizing them; & clients abandoning them by deciding
not to seek accreditation due to difference of opinion
• Trade-offs in the business of accreditation: Dilution of strict standards &
transparency requirements have led to federal govt. withholding recognition;
while inability to work with diverse clients(applicants to accreditation) at
different locations of the globe is loss of business opportunity for the non-
profit
DETAILS OF STANDARDS
• The Purpose of AACSB accreditation is to encourage business schools to hold

themselves accountable for improving business practice through scholarly
education and impactful intellectual contributions
AACSB Standards for Business
Accreditation
• I. Strategic Management and Innovation
• Standard 1: Mission, Impact, Innovation
• Standard 2: Intellectual Contributions, Impact, and Alignment with Mission
• Standard 3: Financial Strategies and Allocation of Resources
• II.Students, Faculty, and Professional Staff

• Standard 4: Student Admissions, Progression, and Career Development
• Standard 5: Faculty Sufficiency and Deployment
• Standard 6: Faculty Management and Support
• Standard 7: Professional Staff Sufficiency and Deployment
STANDARDS CONTD.
• III. Learning and Teaching

• Standard 8: Curricula Management and Assurance of Learning
• Standard 9: Curriculum Content
• Standard 10: Student-Faculty Interactions
• Standard 11: Degree Program Educational Level, Structure, and Equivalence
• Standard 12: Teaching Effectiveness
STANDARDS CONTD.
• Academic and Professional Engagement

• Standard 13: Student Academic and Professional Engagement
• Standard 14: Executive Education .
• Standard 15: Faculty Qualifications and Engagement
ANALYSIS & IMPLICATIONS
• three major areas: Engagement, Innovation, and Impact

• Call for continuous improvement
• Standard No. 13 holds the key: Student Academic and Professional
Engagement
• This bears on urgent need to: (a) Strengthen curricula, & (b) at the same time,
get smart with the larger community
• (a) is facilitated by theory & literature, (b) by systematic & gainful interaction
with the larger community i.e. profit & non-profit enterprises
WHAT IS ENGAGEMENT?
• AACSB acknowledges and values the diversity among its membership, but it
also recognizes that all members share a common purpose –the preparation of
students for meaningful professional, social, and personal lives. This bears on
attitudes which are cultivated on campus by emphasis on all-round criteria(not
the traditional hands-off approach hitherto being followed- enroll , write
exams, get placed , & join alumni group if you care to). Arkansas State Univ.
has institutionalized internships which are all voluntary consultancy
assignments
• AACSB encourages an appropriate intersection of academic and professional
engagement that is consistent with quality in the context of a school’s mission
What is Innovation?
• focus on the quality of education and supporting functions
• Business schools to innovate, and inspire educators to pursue continuous

improvement in educational programs
• E.g. discussions on economic survey
What is Impact?
• assurance of learning into their curriculum management processes
• intellectual contributions that make a positive impact on business theory,

teaching, or practice.
IMPACT CONTD.
• Mission Alignment Impact

• Academic Impact
• Bachelor’s/Master’s/Doctoral Level Education Impact
• Practice/Community Impact: voluntary institutional outreach towards profit &
non-profit org. through professionally conducted internships
• Executive Education Impact
• Research Center Impact: e.g.working paper series, faculty seminars
Teaching/Instructional Impact
• Textbooks, teaching manuals, etc., that are widely adopted

• Publications that focus on research methods and teaching
• Research-based learning projects with companies, institutions, and/or non-profit
organizations
Learning and Teaching (Standards 8 -12)
• processes for determining for each degree program learning goals that are
relevant and appropriate, as well as for designing and delivering curricula to
maximize the potential for achieving the expected outcomes.
• Constant discussion among instructors to evolve a consensus towards the
expected outcomes: emphasis on leadership & value addition through out-of-box
thinking
• Standard 8: systematic processes for determining and revising degree program
learning goals; designing, delivering, and improving degree program curricula to
achieve learning goals; and demonstrating that degree program learning goals
have been met. [CURRICULA MANAGEMENT AND ASSURANCE OF LEARNING]
Standard 8: Curricular Management
• content (theories, concepts, skills, etc.), pedagogies (teaching methods, delivery

modes), and structures (how the content is organized and sequenced to create a
systematic, integrated program of teaching and learning).
• Curriculum is also influenced by the mission, values, and culture of the school.
• E.g. ‘meritum ethicus’ , social & community concerns & balance between theory &
practice
Standard 8 contd.
• To assure external stakeholders that the school meets its goals.
• processes for demonstrating that students achieve learning expectations for

the programs
• Ensures brand-value & reputation that all-round experience has been
rewarding & worthwhile for stakeholders
.
Standard 9: Curriculum content
• appropriate to general expectations for the degree program type and learning goals.
• E.g. bachelor’s programme stresses on fundamentals of hard & soft skills through
diverse courses like IBS does with its BBA/BA courses
• Curriculum content refers to theories, ideas, concepts, skills, knowledge, etc., that make
up a degree program
• Learning goals describe the knowledge and skills students should develop in a program
and set expectations for what students should do with the knowledge and skills after
completing a program –e.g. join as an executive trainee
Standard 9: Curriculum Content –General
Skill Areas
• Written and oral communication (able to communicate effectively orally and in
writing)
• Ethical understanding and reasoning (able to identify ethical issues and
address the issues in a socially responsible manner) :’ethics is good business’
i.e. inclusive approach to exercising decision choices
• Analytical thinking (able to analyze and frame problems)
• Information technology (able to use current technologies in business and
management contexts)
Skill Areas contd.
• Interpersonal relations and teamwork (able to work effectively with others and in
team environments)
• •Diverse and multicultural work environments (able to work effectively in diverse
environments)
• Reflective thinking (able to understand oneself in the context of society)
• Application of knowledge (able to translate knowledge of business and
management into practice)
Business Knowledge Areas
• Economic, political, regulatory, legal, technological, and social contexts of
organizations in a global society
• Social responsibility, including sustainability, diversity and ethical behavior
and approaches to management
• Financial theories, analysis, reporting, and markets
• Systems and processes in organizations, including planning and design,
production/operations, supply chains, marketing
Standard 9: Curriculum Content –General Business
Knowledge Areas
• Group and individual behaviors in organizations and society

• Evidence-based decision making that integrates current and emerging
business statistical techniques, data management, data analytics and
Information technology in the curriculum.
• Other specified areas of study related to concentrations, majors, or emphasis
areas

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"CHANGING PERCEPTIONS

ABOUT BUSINESS EDUCATION

• The Purpose of AACSB accreditation is to encourage business schools to hold

• II.Students, Faculty, and Professional Staff

• III. Learning and Teaching

• Academic and Professional Engagement

• three major areas: Engagement, Innovation, and Impact

• focus on the quality of education and supporting functions

• Business schools to innovate, and inspire educators to pursue continuous

• assurance of learning into their curriculum management processes

• intellectual contributions that make a positive impact on business theory,

• Mission Alignment Impact

• Textbooks, teaching manuals, etc., that are widely adopted

• content (theories, concepts, skills, etc.), pedagogies (teaching methods, delivery

• To assure external stakeholders that the school meets its goals.

• processes for demonstrating that students achieve learning expectations for

• Group and individual behaviors in organizations and society

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