Triple accreditation, also known as Triple Crown accreditation, is the combination of accreditations held by 100 business schools worldwide (less than 1% of all business schools in the world), awarded by the three largest and most influential business school accreditation organizations:[1]
AACSB - The Association to Advance Collegiate Schools of Business (United States)
The Indian School of Business became the 100th Triple Accredited institution in the world upon achieving AMBA accreditation on May 12, 2020.[2]
Accreditation comparison
Each of the three institutions assesses a business school according to different criteria and scope:[3][4][5]
Scope of business school accreditation for AACSB, EQUIS and AMBA
Scope of accreditation
AACSB has the broadest scope, as it accredits management and accounting programs at the entire university (e.g. management programs at the business school and the school of engineering) and grants university-wide accreditation.
AMBA has the most focused scope as it accredits only the business school's portfolios of MBA programs (full-time, part-time, executive, distance-learning), MBM programs (including MSc International Management) and DBA (also known as DMgt in China).
EQUIS's scope ranks in the middle, as it accredits the business school but not the university and not specific portfolios of programs.
AMBA accreditation director George Iliev described the size and scope of the three accreditations in a seminar for British and Irish business schools in London in January 2020 with the following metaphor:
- AACSB is the elephant in the savannah. It is the biggest animal;
- EQUIS is the rhino. It is the second biggest;
- AMBA is the giraffe. It grazes from the top.
Duration of the accreditation process
AACSB: 2–7 years
AMBA: 9–18 months
EQUIS: 2–3 years
Reaccreditation
AACSB: full re-accreditation every 5 or 10 years (the 10-year accreditation is being phased out)
AMBA: full re-accreditation every 3 or 5 years (1-year accreditation is a possible outcome of reaccreditation in exceptional circumstances)
EQUIS: full re-accreditation every 3 or 5 years
School audit team
AACSB's peer review team includes deans and business school administrators.
AMBA's assessment team includes deans, associate deans, program directors and an AMBA director (serving as rapporteur).
EQUIS's team includes three deans and one corporate representative.
Evaluation report content
AACSB's report reflects compliance with the AACSB standards
AMBA's report includes compliance with criteria, conditions and recommendations
EQUIS's report reflects compliance with the EQUIS standards
Criteria/Standards size
AACSB: 77 pages for Business Accreditation; 36 pages for Accounting Accreditation
AMBA: 24 pages (9 pages for MBA; 9 pages for MBM; 6 pages for DBA)
EQUIS: 71 pages
Quantitative vs Qualitative
AACSB has more quantitative criteria (checklists)
AMBA has more qualitative criteria
EQUIS is in the middle (between AACSB and AMBA)
Internationalization
AACSB conducts the evaluation against the school's own mission, so AACSB has no internationalization requirement unless internationalization is part of the school's mission.
AMBA has internationalization criteria for research, curriculum and student enrolment. However, these are reviewed in a regional context for less internationalized regions (e.g. Latin America and Russia).
EQUIS has strict requirements on internationalization.
Faculty numbers
AACSB: prescribed faculty ratios (AQ/PQ ratio)
AMBA: no prescribed faculty-to-students ratio
EQUIS: prescribed minimum numbers of faculty
Feb 2014 Survey Results among MBA applicants, in response to the question: "Which of the following accreditations is/was most important to you when choosing a business school?" [6]
AMBA (45.81%)
AACSB (18.23%)
ACBSP (7.88%)
EQUIS (12.32%)
EPAS (4.43%)
Other (11.33%)
Visiting faculty
AACSB disapproves of heavy use of visiting faculty.
AMBA allows the visiting faculty model, as long as the visiting faculty are managed by the core faculty (and as long as the quality and course content is monitored).
EQUIS disapproves of heavy use of visiting faculty.
Research
AACSB requires research in line with the mission of the school.
AMBA requires research and publications in international refereed journals or proof of impactful research at national level.
EQUIS requires research with an international dimension.
Program-specific criteria
AACSB has no program-specific standards since it evaluates the entire university.
AMBA has program-specific criteria such as:
at least 3 years of full-time work experience for all admitted MBA students;
at least 500 contact hours (scheduled class hours) for a full-time MBA curriculum and a minimum of 120 contact hours for a distance-learning MBA;
at least 20 students enrolled in an MBA program;
EQUIS has some program-specific standards in the context of the evaluation of the entire business school.
Accreditation fees
AACSB: 47,000 USD for initial business accreditation (or 63,500 USD for both business and accounting accreditation). In addition, an annual business accreditation fee is charged: 4,500 USD annually for a 5-year accreditation cycle or 2,500 USD annually for a 10-year accreditation cycle.[7]
AMBA: 22,000 GBP for initial accreditation or 15,000 GBP for re-accreditation.
EQUIS: 52,800 EUR for a 5-year initial accreditation or re-accreditation and 46,200 EUR for a 3-year initial accreditation or re-accreditation.[8]
Schools List by Country / Regions
There are 100 triple-accredited schools based in 36 countries / Regions as of May 2020:[9][10][11]
A major reason for the small number of triple-accredited institutions in the world is that the top schools in some regions do not meet one or more of the detailed criteria of the accrediting institutions and choose not to amend their policy. Notable examples are some top US business schools: Harvard Business School, Wharton, Stanford GSB, Columbia Business School, Chicago Booth, Tuck School of Business, etc.
Another reason is that most of the schools that have obtained AACSB accreditation in the US and Canada do not look outside of North America for further validation.
^Biswas, Preeti (13 May 2020). "ISB is 100th business school in the world to receive 'Triple Crown' accreditation". The Times of India. Retrieved 11 January2021.
^AACSB-accredited schools: "Archived copy". Archived from the original on 2012-09-03. Retrieved 2011-11-09.((cite web)): CS1 maint: archived copy as title (link)
