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Why Accreditation?
Simply put, accreditation is a verifiable way of establishing the excellence of an educational program. It is like a third-party verification of the standard of the programs that a university offers. Accrediting agencies follow some established criteria to develop a method of assessment and apply the method to audit a program. These audits are rigorous and unbiased.
Accreditation Council for Business Schools and Programs (ACBSP), Association to Advance Collegiate Schools of Business (AACSB), and International Accreditation Council for Business Education (IACBE) are the top three accrediting organizations. ACBSP and IACBE are recognized by the Council for Higher Education Accreditation (CHEA), a US organization which reviews accrediting organization.
All of these accrediting organizations are dedicated to excellence in business education, each with a somewhat different focus, for example, while ACBSP focuses on teaching excellence, AACSB focuses on research. Universities have to consider their vision and mission while selecting accrediting organizations.
Benefits of Accreditation
Accreditation being a verifiable way of establishing the excellence of a program or institution, it legitimizes programs and institutions and brings visibility and recognition. Currently, Bangladesh has 103 private universities, and only three universities are accredited by ACBSP. Accreditation is the only way to be included in that elite group. This will attract quality students in increasing numbers to your campus.
Accrediting agencies set the criteria and provide guidance to fulfill those criteria. It provides you with a plan for success.
Going for accreditation is a big step toward a commitment to excellence. Accrediting agencies through mentoring, and by requiring a self-study, on-site campus visitation and assessment, challenges your commitment and ensures your success.
Each accreditation organization has a model of excellence. These models, developed from leading-edge educational management practices, ensure excellence in your business programs.
Accreditation provides global recognition to your business programs. It brings global credibility to your program and sets you apart from your competition. Now you have a program with global distinction.
Graduation from an accredited program provides better marketability for your students, giving them a competitive advantage in the hiring process. Your graduates will also have a better chance of pursuing higher education abroad. All the more, accreditation may facilitate credit transfer.
Teaching experience in accredited universities adds value to the credentials of the faculty. Faculty recruiters often prefer faculty with teaching experience in accredited universities.
Accreditation makes it easier for universities to enter into articulation agreements with other accredited universities. This will foster faculty and student exchanges, and program development.