April 2, RMBS received an official notice from EFMD (European Foundation for Management Development), congratulating that after a rigorous on-site assessment by EQUIS (EFMD Quality Improvement System) Peer Review Team in December 2018, the School has been officially re-accredited by the EQUIS Awarding Body for a further period of five years, the maximum length for which EQUIS issues re-accreditation.
EQUIS is one of the two (the other is AACSB) most authoritative international systems of quality assessment, improvement and accreditations for higher education institutions in management and business administration run by EFMD. It strives to raise the standard of management education worldwide. Business schools must pass rigorous, comprehensive processes and procedures including eligibility benchmarking, pre-surveys, formal applications, qualification studies, self-assessment reports, international peer assessments (including on-site reviews) etc. to be granted the accreditation certification. As of February 2019, there are only about 180 top business schools across around 40 countries or regions have been accredited by EQUIS.
To be accredited, institutions must demonstrate not only high quality in all dimensions of their activities, but also a high degree of internationalization. RMBS obtained its three-year initial accreditation in December 2010 and the first five-year re-accreditation in 2014. Following a thorough review process in December 2018, its re-accreditation was confirmed in April, 2019.
The Awarding Body took particular note of the quality of the School as reflected in its outstanding leadership, program portfolio, faculty expertise, high quality students and alumni relations, excellent corporate links and social responsibility and was greatly impressed with the significant progress made since its two accreditation periods and the seriousness with which it has addressed its areas for improvement. Suggestions have also been provided by the PRT in identifying areas that need improvement and effort.
In the spirit of continuous improvement, the School recognizes that the accreditation process has been beneficial for RMBS in terms of spurring innovation and improving governance. Attainment of the five-year EQUIS re-accreditation, together with the five-year AACSB accreditation earned in April 2018, places RMBS in an elite group of business schools globally and testifies to its commitment to the highest international standards of excellence and continuous improvement, for less than 1% of all institutions that offer management education worldwide have earned both accreditations.
EFMD News: https://blog.efmdglobal.org/2019/04/04/four-business-schools-re-accredited-equis/