Less than five percent of Business Schools in the world AACSB-accredited
SERDANG, July 30 - Universiti Putra Malaysia (UPM) is the first university in Malaysia to obtain accreditation from ACCSB in business education. This accreditation is awarded to the Faculty of Economics and Management (FEP) and Putra Business School or PBS (formerly known as the Graduate School of Management or GSM).
The achievement of UPM and seven other international universities was announced by the President and Chief Executive Officer of AACSB International, John J. Fernandes at Tampa, Florida via www.aacsb.edu recently.
Other international universities accredited by AACSB are the University of Texas at Brownsville (US-TX), Chonnam National University (South Korea), Dongguk University (South Korea), Istanbul University (Turkey), Peking University (China), Providence College (US-RI) and West Texas A&M University (US-TX).
The Peer Review Team (PRT) from AACSB came to audit UPM from 27 to 30 May 2012.
AACSB International or Association to Advance Collegiate Schools of Business, which was established in 1916, is the longest serving global accrediting body for business schools that offer undergraduate, masters and doctorate degrees in business and accounting.
Fernandes said, “The accreditation from AACSB represents the highest achievement for an educational institution that awards business degrees.”
AACSB accreditation is the hallmark of excellence in business education, and less than five percent of the world’s business programmes have been resognized by this prestigious accreditation body. Today, 655 business schools in 44 countries are AACSB-accredited.
Universiti Putra Malaysia is only the sixth university in South East Asia with such accreditation.
The accreditation process involves rigorous internal review, evaluation, and adjustment and can take several years to fulfill 21 requirements that have been set by AACSB International. All accredited schools must go through a peer review process every five years in order to maintain their accreditation.
UPM Vice Chancellor, Dato’ Ir. Dr. Radin Umar Radin Sohadi, said this latest success of UPM has recorded a new benchmark for quality higher education in Malaysia.
"The process of accreditation is complex and long. Since 2005, various improvements have been made until the final audit process was carried out and completed in June 2012," he said at the AACSB Accreditation press conference here.
Also present were the Dean of FEP, Prof. Dr. Mohd Shahwahid Othman and PBS President, Prof. Dr. Arfah Salleh.
“UPM’s success in earning the AACSB accreditation required a lot of evaluation, dedication and commitment. Congratulations to the management staff, faculty members and support staff of Putra Business School and Faculty of Economics and Management. I would also like to put on record our appreciation to the Ministry of Higher Education of Malaysia for their strong support.
“With this accreditation, UPM has met the very stringent AACSB requirements, and we promise continuous commitment to provide high quality education to students,” he said.
Dato’ Ir. Dr. Radin Umar revealed that the accreditation process involved rigorous internal review, evaluation, and adjustment that took several years to fulfill the 21 requirements that have been set, some of which include:
- Quality teaching activities;
- Challenging but realistic set of standards to ensure continuous improvement in business education, and to provide a challenge to lecturers to pursue on-going improvement;
- Quality academic environment through open communication among faculty members and students in a systematic programme fully supported by the institution, and
- Existing qualities in the education system.
“This AACSB accreditation is closely related to the Strategic Planning for Public Institutions of Higher Education (PIHE), the two main principles of which are autonomy and Top Business School (TBS).
“Both criteria are essential to receive AACSB accreditation. UPM achieved the TBS award by the Ministry of Higher Education (MOHE) in 2008,” he said.
Dato’ Ir. Dr. Radin said in order to maintain the TBS award, it is important for the university to achieve other international accreditation to further enhance UPM’s quality, image, and reputation.
“For UPM to move forward, we have made a strategic decision to accelerate the autonomy of Putra Business School by establishing the Putra Business School Foundation.
“The foundation’s aim is for education and not for profit. It will have the autonomy operate and function without having to go through the various processes that involve the Universities and University Colleges Act (UCCA).
“Only through this will PBS be able to attract captains of industry as faculty members and together with existing expertise within the university UPM will be able to attract more international students and generate more income,” he commented.
“We believe by being a pioneer in human governance as the niche area will enable UPM to achieve even more important and meaningful outcomes. Currently, there are many staff members of GLCs or Government-Linked Companies and international bodies undergoing training at the Putra Business School,” Said Dato’ Ir. Dr. Radin.
With this recognition, UPM joins an elite group of outstanding business schools, among which are the London Business School, INSEAD, University of Pennsylvania, Harvard University, Yale University, Columbia University, EDHEC Business School, Warwick Business School and University of Toronto.
News report by Khairul Anuar Muhamad Noh, 03-89467469 and Muhamad Najkhan Mazlan, 03-89466011. Photo by Mohd Hasrul Hamdan, 03-89466189