European Foundation for Management Development - Website: EQUISWELCOME

efmd European Foundation for Management Development A Network Organisation 400 Member Organisations in over 40 countries Business Schools & Universities Large Companies Executive Development Centres Consultancies Public Service Agencies Professional Associations Self-financing through Membership Fees & Conference Charges

European Foundation for Management Development - Website: efmd Mission: - The International Network - The Forum for the Profession - The Ambassador for European Management Development Activities: - Networking events & seminars - Information services - Special projects - Quality services

European Foundation for Management Development - Website: Update EQUIS/EQUIP EQUIS: 64 Schools Accredited - of which 15 outside Europe: AIM, CapeTown, Curtin University of Technology, EAESP/FGV- Fundação Getulio Vargas, Egade, HEC Montreal, Stellenbosch, HKUST, Richard Ivey, University of Florida, Uniandes, University of Washington, Thunderbird, UQAM and Wake Forest - of which 6 re-submissions 35 Schools in the Pipeline - of which 14 outside Europe EQUIP: 7 Schools audited - phased out by new EQUIS process Updated 28/03/2003

European Foundation for Management Development - Website: To Provide an Instrument for Comparison and Benchmarking To Promote a Shared Vision of Quality Standards Convergence upon best practice without sacrificing diversity To Accelerate Quality Improvement in international management education To Provide Market Information To Establish an Accreditation Process through the Award of a European Quality Label Objectives of EQUIS For schools individually For the Management Education System

European Foundation for Management Development - Website: EQUIS Committee EQUIS Awarding Body Board EQUAL EQUIS efmd EQUIS Management System

European Foundation for Management Development - Website: Basic Principles: –Respect for Diversity  Diversity of national educational systems  Diversity of programme formats  Diversity of expectations and values –Start with an understanding of the local context –No one model –A transnational approach The EQUIS Approach

European Foundation for Management Development - Website: A Single System Institutional Diversity National Education Systems Status and Organisation of Higher Education Institutions Programme Diversity First-Degree Programmes Postgraduate Programmes Executive Education Geographic and Cultural Diversity The EQUIS Challenge Coverage of Vast Diversity

European Foundation for Management Development - Website: 1- Institutional Assessment 2- Driven by the Management Development Profession 3- Involves both Academic and Corporate Stakeholders 4- Respect for Diversity 5- Managed by a Multicultural Group 6- Three Dimensions: - General Quality - Internationalisation - Interface with the Professional World 7- Balance between Academic and Professional Dimensions Key Characteristics of EQUIS

European Foundation for Management Development - Website: Benefits of International Accreditation Recognition in the international marketplace for management education (BS, students and companies) Possibility for schools to measure themselves against criteria that are internationally recognised i.e. access to International Benchmarking A way of integration in the international community of business schools An instrument of strategic institutional development An accelerator of quality improvement and innovation (agenda for change)

European Foundation for Management Development - Website: CONTEXT AND MISSION STUDENTS AND PARTICIPANTS FACULTY PHYSICAL RESOURCES INTERNATIONAL ISSUES CORPORATE CONNECTIONS Executive Education Programme Quality Personal Development Research & Development Contribution to the community The EQUIS Criteria Framework

European Foundation for Management Development - Website: 0. Inquiry1. Application2. Eligibility 3. Self- Assessment 4. Peer Review 5. Awarding Body 6. Guided Development End Strategic Advice EQUIS Accredited No Not ready No Yes Ready Yes The EQUIS Accreditation Process The EQUIS Accreditation Process

European Foundation for Management Development - Website: – First Contact: Generic Interest – Information and Preliminary Advice on EQUIS – Information on efmd membership Stage 0: Inquiry Stage 1: Application –Standard package of EQUIS documents sent –Formal Application and Data Sheet received –On-site Briefing Visit

European Foundation for Management Development - Website: –Decision by EQUIS Committee Determine if the institution has a reasonable prospect of achieving accreditation within 5 years Identify problem areas Help School assess gap in relation to EQUIS standards –Outcomes Eligible (Go to Stage 3) –Unconditionally –With a clear indication of the risks Not eligible –EQUIS offers strategic advice Stage 2: Eligibility

European Foundation for Management Development - Website: –Preparation of Self-Assessment Report –Assistance by EQUIS –Preparation of Peer Review Visit Stage 3: Self-Assessment

European Foundation for Management Development - Website: Clear communication of objectives throughout the institution Involvement of all the main actors:- stakeholders - wide cross-section of staff Definition of methodology Setting up of a structure: - project leader - working parties Information gathering : facts and figures, documents Analysis/Diagnosis: balanced, comprehensive, realistic, self- critical Drafting of a report: descriptive, diachronic, analytical Internal Communication Basis for Peer Review Self-Assessment The Process Self-Assessment

European Foundation for Management Development - Website: Learning Process for the Entire Institution –historical awareness –strategic awareness –awareness of quality-related issues –“continuous improvement” concept Strategic Self-Audit –opportunity to take stock –strengths and weaknesses –constraints, threats, opportunities –competitive positioning –relevance/coherence/feasibility of current strategy Measurement of the school’s activities against external quality standards - benchmarking Self-Assessment The Objectives Self-Assessment

European Foundation for Management Development - Website: Stage 4: Peer Review Visit International Peer Review - 4-member team 1 Academic representing the local environment 2 Academics from different countries 1 Corporate representative - 3-day visit: Assessment of the whole institution - Drafting of a report …/...

European Foundation for Management Development - Website: Outcomes –Peer Review Report Evaluation against the EQUIS criteria Recommendations for future development –Requirements for achievement of accreditation –Suggestions for improvement –The Report may recommend immediate submission to the Awarding Body Stage 4: Peer Review Visit

European Foundation for Management Development - Website: - Full accreditation: Reaccreditation in 5 years (Stage 3) Improvement reports –Half way –Annually - Conditional accreditation Reaccreditation in 3 years (Stage 3) Annual reports - Non accreditation Withdrawal from process (Back to Stage 3, >2 yrs) Guided development (Stage 6) Stage 5: Awarding Body

European Foundation for Management Development - Website: Initiating a development plan (EQUIS Adviser) –Strategy –Resources –Action plan –Time frame Guided development package –Annual report –Annual visit (1 day) –Additional a la carte The EQUIS Directors will advise the School on when to make a second application for accreditation (Stage 3) Stage 6: Guided Development Stage 6: Guided Development

European Foundation for Management Development - Website: Eligibility or beginning of reaccreditation –6,000 Euro After Self Assessment Report sent –10,000 Euro After Awarding Body decision –10,000 Euro if full accreditation –6,000 Euro if conditional accreditation –0 Euro if no accreditation This final payment can be made in annual installments of 2,000 Euro, if the School prefers to do so FeesFees

European Foundation for Management Development - Website: Standard package –2,000 Euro initial fee –1,500 Euro annual fee (1 day visit) –Save 6,000 Euro when formally applying (>2 years) A la carte –1,500 Euro per day Travel and lodging paid by school Fees: Guided Development