Business schools’ accreditation A strategy to improve the quality of recruitment

The issue All the major business schools in Europe have applied for international academic accreditation (AACSB, Equis, etc…) The accreditations increase notoriety and are influent in the rankings (FT, Wall Street J., etc.) The recognition of accredited BS by employers may increase the selection rate of the students. Can professional qualification like RICS play the same role through accreditation ?

References Change in graduate management education and new school strategies for the 21st century. By: Friga, P. N., Bettis, R. A., & Sullivan, R. S. Academy of Management Learning and Education Challenges of AACSB international accreditation for business schools in the United States and Europe. By: Scherer, Robert F.; Javalgi, Rajshekhar (Raj) G.; Bryant, Michael; Tukel,Oya. Thunderbird International Business Review,Nov/Dec2005. Challenges of AACSB international accreditation for business schools in the United States and Europe. Strategic Implications of Specialized Business School Accreditation: End of the Line for Some Business Education Programs? By: Tullis, K. J.; Camey, John P. Journal of Education for Business, Sep Strategic Implications of Specialized Business School Accreditation: End of the Line for Some Business Education Programs?

Brand strategy and attractiveness Among main motivations of European and Australian BS to be accredited by AACSB are cited: enhance their reputation/image by differentiating themselves from non-accredited schools; increase intellectual capital in teaching and research by hiring qualified faculty; produce competent graduates. Source: Consequently, the accredited BS become more attractive for the students.

Is RICS accreditation in the same scope? RICS does not accredit BS but programs with a real estate specialization*; RICS seeks to recruit graduates from accredited programs to become members; RICS standards do not interfere with the pedagogical project of the programs, nor with their organization; RICS proposes to the students a way to obtain a professional qualification through the accredited programs. * In fact RICS is about to create partnerships with the whole universities

The case of ESSEC and the MMI ESSEC Business School was accredited by AACSB in The Master Management Immobilier (MMI) has been created in 1997 and was accredited by RICS in The MMI is a one year executive program (participants are 34 year old and have 10 year experience in average). The MMI is a part of the Real Estate Pole developed at ESSEC (Chair in Real Estate Economics, Master in Urban Management).

Some data Year Number of applicants3474 Number of students2037 % at bachelor level50%30% % at master level50%70%

Recognitions and results The MMI has been selected among ESSEC executive programs to be ranked by the FT in It got the 26th place among the 40 best executive programs in the world (11th place for the ease with which new skills are implemented). No applicants renounced to enter the MMI by choosing a competitor in % of the students have changed of positions 18 months after the MMI and their salary progressed by 25% in average.

Conclusions RICS accreditation contributes to enhance the global reputation of the BS. The increasing attractiveness of the real estate program is a way to improve the quality of the students. As a consequence, RICS accreditation may be considered as a part of the strategy of the BS and makes sense to increase differentiation with its competitors.