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The Value of AACSB Accreditation

 


Latest Update from Dean Li on 4/29/16-

Dear Faculty, Staff, Students, Advisory Board Members and Friends:

It is official! 

The Raj Soin College of Business is now awarded the extension of AACSB accreditation for the next 5 years for both the Business and Accounting programs. Congratulations on this very significant achievement.  It is YOU that made that happen.  Today, we celebrate the great result of a teamwork involving the faculty, staff, students, advisory boards, administrators as well as all our friends and supporters. 

It is my privilege to inform you that AACSB Continuous Improvement Review Committee has met, voted, and concurred with our AACSB visiting team’s recommendation for the extension of accreditation for the business programs offered by your school on April 21st. Also, the Accounting Accreditation Committee met and concurred with our AACSB visiting team’s recommendation for the extension of accreditation for the accounting programs offered by your school on April 19th.  Both recommendations are now ratified by the AACSB Board of Directors. 

Our AACSB visiting peer review team commended the College on five different items, which is a fairly rare occurrence. We received commendations on the following: (i) level of engagement by all college stakeholders; (ii) the development of the student-run Rey-Rey Café providing a “perfect example of the experiential learning that the college promotes”; (iii) the Data Analytics and Visualization Environment (DAVE) lab for its cross-curricular potential driven by the needs of regional business; (iv) the Soin Trading room which is recognized as a top finance trading lab in the nation for its function and design; and (v) the college’s mature assessment and assurance of learning process that adopts the innovative faculty-developed Assess My Program (AMP) software.

I would like to thank all of you who participated tirelessly in this process over the last few years. This would not have been possible without your participation. Whether you were part of the AACSB non-standing committees, or participated during the peer review team visit, or in the assurance of learning process, you were all part of this, you all played a role in this success. As we celebrate this success, I encourage you to participate in the many on-going dialogues and provide us feedback on how to make the Raj Soin College of Business the best business school in the region and beyond.  Your help and efforts will allow us to continue our vision and mission to provide the best learning experience for our students. 

Thank you to everyone – YOU are the Raj Soin College of Business!

Dean Joanne Li


AACSB Accreditation (6).jpgThe Raj Soin College of Business is currently preparing for our upcoming AACSB Continuous Improvement Review (CIR).   As the Dean of the College, I would like to make sure you understand what this accreditation means and why this is important to our programs and valuable to employers.  Here are some facts provided by AACSB International on its website.

* AACSB International (AACSB) is the longest serving global accrediting body and membership association for business schools worldwide. 
* AACSB Accreditation is known, worldwide, as the longest standing, most recognized form of specialized/professional accreditation an institution and its business programs can earn.  
* AACSB provides internationally recognized, specialized accreditation for business and accounting programs at the bachelor’s, master’s, and doctoral level.
* The AACSB Accreditation Standards challenge post-secondary educators to pursue excellence and continuous improvement throughout their business programs.
* There are 736 business schools in 48 countries and territories that have earned AACSB Accreditation.
* Similarly, 182 institutions hold an additional specialized AACSB Accreditation for their accounting programs.

You can find the global listing on its website.  The Raj Soin College of Business is one of the 182 schools in about 15,000 business programs in the world that have earned the AACSB Accreditation in both its business and accounting programs.   We are the first in the region to be accredited by AACSB International.

The Continuous Improvement Review process for AACSB Business and Accounting
Accreditation is not a standard-by-standard review. By focusing the review on educational improvement, strategic management, and fulfillment of mission, the members of Peer Review Teams for business and accounting will be particularly attuned to educational quality issues and problems that may be revealed in the process. The CIR process relies on extensive and effective communications between the host business school and the accounting academic unit and the peer review teams for business and accounting. In addition, the value of the CIR process is enhanced with the business and accounting team collaboration in the review process and resulting report preparation.

If you have any questions, please do not hesitate to contact me or Associate Dean Arijit Sengupta for AACSB Accreditation.

AACSB CIR Process

Important dates and facts:

* AACSB Continuous Improvement Review (CIR) – Feb 21-23, 2016
* The CIR process relies on extensive and effective communications between the host business school and the accounting academic unit and the peer review teams for business and accounting.

Visit Team:

* Lance A. Nail (Chair), Dean, Rawls College of Business, Texas Tech University
* Casper E. Wiggins (Accounting Chair), Big Five Distinguished Professor of Accounting, Belk College of Business, The University of North Carolina at Charlotte
* Raju Balakrishnan (Business Member), Dean, University of Michigan, Dearborn.
* William D. Stout (Accounting Member),  Associate Professor and Director, School of Accountancy, University of Louisville

Four (4) non-standing committees are to lead this visit:

* Strategic management and innovation committee (Standards 1-3)
* Participants committee - student faculty and professional staff (Standards 4-7)
* Learning and Teaching Committee (Standards 8-12)
* Academic and Professional Engagement Committee (Standards 13-15)

Timeline to the RSCOB 2016 Continuous Improvement Review Visit:

FY 2013 (Spring 2013-Fall 2013) – Assurance of Learning Cycle 1 (completed)

FY 2014 (Spring 2014-Fall 2014) – Assurance of Learning Cycle 2 (completed)

Fall 2014 – Inform all faculty our refined timeline and seek input (completed)

Spring 2015 – Completion of Assurance of Learning tasks including closing the loop (completed)

Summer 2015 – First draft of Self-Evaluation Report (completed)

Aug 2015 – Team chair visit (informal) to review progress (August 13 & 14) (completed)

Sep 2015 – Second draft of Self-Evaluation Report incorporating chair suggestions

Sep-Nov 2015 – AACSB-themed faculty workshops
 

Associate Dean Sengupta is conducting a series of workshops for faculty to come and be informed about our progress, as well as contribute their feedback as we prepare the final version of the CIR and the associated material. The list and dates of the workshop are as follows:

Sept 18 1-2:30PM: AACSB Workshop 1 – AMP and DM for New faculty (Bring a laptop or tablet if you can!) (completed)
Oct 2 1-2:30PM:   AACSB Workshop 2 – Building and Verifying your AACSB Vita with Digital Measures
Oct 16 1-2:30PM:  AACSB Workshop 3 – AACSB Standards and our Continuous Improvement Report
Oct 30 1-2:30PM:  AACSB Workshop 4 – AACSB Schedule discussion and open Q&A session
Nov 13 1-2:30PM: AACSB Workshop 5 – Making AACSB work faculty-driven what we have done right and what we could do better

Sep-Nov 2015 – review and revision of SER by faculty and board

Nov 24 2015 – Final version of SER for submission via myAccreditation

Dec 21 2015 – SER submission deadline

Feb 21-23 2016 – Continuous improvement review visit


Important Links to resources:

Our Assessment System:   https://amp.rscob.wright.edu

Digital Measures for activity tracking:  http://www.digitalmeasures.com/login/wright/faculty

AACSB Website:  http://www.aacsb.edu

2013 AACSB Standards:  http://www.aacsb.edu/accreditation/standards/2013-business.aspx

AACSB

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The Raj Soin College of Business is fully accredited at both the undergraduate and graduate level by the AACSB International - The Association to Advance Collegiate Schools of Business, which is the highest accrediting body for business colleges in the world. Less than five percent of business programs in the world achieve this standard of excellence. This means that our faculty, curriculum, and all other educational resources are thoroughly and professionally evaluated by an independent board of educators and have been found to be of exceptional quality.  As an added distinction, the Department of Accountancy's programs are separately accredited by AACSB International. The accreditation applies to the department's undergraduate major and its Master of Accountancy program. Only 178 accredited institutions have separately accredited accounting programs. The Raj Soin College of Business faculty and staff are committed to exceeding the standards advanced by the AACSB.

Here's a quick profile of AACSB accredited business programs. 12,623 institutions grant business degrees worldwide 1,621 of these are in the U.S.

The Raj Soin College of Business provides leadership and innovation to:

  • Less than 30% of US business schools are AACSB accredited
  • Less than 5% of schools worldwide hold AACSB accreditation
  • 178 AACSB accredited schools having both Business and Accounting accreditation:  167 are in the US and 6 are outside the U.S
  • 10% of US schools have achieved both Business and Accounting accreditation

To learn more about the value of AACSB accreditation, visit the Best Business Schools website

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ABET

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In 2006, our Bachelor of Science program in Management Information Systems became the first business school program in Ohio to be accredited by the Computing Accreditation Commission of ABET. We were also among the first twenty business programs in the U.S. to achieve this accreditation.