The University of Macau (UM) Faculty of Business Administration (FBA) has earned accreditation from the prestigious Association to Advance Collegiate Schools of Business (AACSB), becoming the first business school in Macao to be accredited by the association. The accreditation shows recognition of the FBA’s pursuit of continuous improvement in teaching and research as well as its calibre as a leading business school in the world.
Founded in 1916, the AACSB is the oldest global accreditation body for business schools, as well as the largest business education network connecting students, educators, and businesses worldwide. Out of the more than 16,000 business schools in the world today, only about 5 per cent of them, which is about 836 institutions in 55 countries and regions, have been accredited by the AACSB.
‘The AACSB Accreditation recognises institutions that have demonstrated a focus on excellence in all areas, including teaching, research, curriculum development, and student learning,’ says Stephanie M Bryant, executive vice president and chief accreditation officer of AACSB International. ‘UM’s commitment to earning accreditation is a true reflection of their dedication—not only to their students, alumni network, and greater business community, but also to the higher education industry as a whole. Today’s students are tomorrow’s business leaders, and the addition of the FBA to the network of AACSB-accredited business schools will have a lasting positive impact for their institution, both locally and globally.’
UM Rector Yonghua Song says that the AACSB Accreditation is one of the highest achievements for business schools in the international community and extends his appreciation to all UM members for their contributions in earning this prestigious accreditation. ‘The achievement will have a significant impact on the business community and the society of Macao,’ says Song. ‘It has demonstrated our excellence in business education.’
FBA Dean Jean Chen says that the attainment of the AACSB Accreditation has placed the faculty among the league of top business schools in the world. ‘It demonstrates that our achievement has been recognised by business schools worldwide and will greatly increase our competitiveness in the higher education market,’ she says. ‘It has also placed FBA in an excellent position to attract more talented staff and students.’
AACSB Accreditation provides a framework of 15 international standards against which business schools around the world assess the quality of their educational services. These standards ensure continuous improvement and provide a focus for schools to deliver on their mission, innovate, and drive impact. AACSB-accredited schools have successfully undergone a rigorous review process conducted by their peers in the business education community, ensuring that they have the resources, credentials, and commitment needed to provide students with a first-rate, future-focused business education.