EQUIS WELCOME European Foundation for Management Development Website

EQUIS WELCOME European Foundation for Management Development - Website: http: //www. efmd. be/

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: http: //www. efmd. be/

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: http: //www. efmd. be/

Update EQUIS/EQUIP • EQUIS: 64 Schools Accredited - of which 15 outside Europe: AIM, Cape. Town, 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 European Foundation for Management Development - Website: http: //www. efmd. be/ Updated 28/03/20 03

Objectives of EQUIS • 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 For schools individually For the Management Education System • To Provide Market Information • To Establish an Accreditation Process through the Award of a European Quality Label European Foundation for Management Development - Website: http: //www. efmd. be/

EQUIS Management System Board EQUIS Committee EQUIS Awarding Body efmd EQUAL European Foundation for Management Development - Website: http: //www. efmd. be/

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

The EQUIS Challenge A Single System Coverage of Vast Diversity 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 European Foundation for Management Development - Website: http: //www. efmd. be/

Key Characteristics of EQUIS 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 European Foundation for Management Development - Website: http: //www. efmd. be/

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: http: //www. efmd. be/

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

The EQUIS Accreditation Process End 0. Inquiry 1. Application 2. Eligibility No Strategic Advice Yes 3. Self. Assessment 4. Peer Review Ready 5. Awarding Body Yes No Not ready 6. Guided Development European Foundation for Management Development - Website: http: //www. efmd. be/ EQUIS Accredited

Stage 0: Inquiry – First Contact: Generic Interest – Information and Preliminary Advice on EQUIS – Information on efmd membership 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: http: //www. efmd. be/

Stage 2: Eligibility – 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 European Foundation for Management Development - Website: http: //www. efmd. be/

Stage 3: Self-Assessment – Preparation of Self-Assessment Report – Assistance by EQUIS – Preparation of Peer Review Visit European Foundation for Management Development - Website: http: //www. efmd. be/

Self-Assessment The Process • 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, selfcritical • Drafting of a report: descriptive, diachronic, analytical Internal Communication Basis for Peer Review European Foundation for Management Development - Website: http: //www. efmd. be/

Self-Assessment The Objectives • 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 European Foundation for Management Development - Website: http: //www. efmd. be/

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: http: //www. efmd. be/

Stage 4: Peer Review Visit • 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 European Foundation for Management Development - Website: http: //www. efmd. be/

Stage 5: Awarding Body - 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) European Foundation for Management Development - Website: http: //www. efmd. be/

Stage 6: Guided Development • 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) European Foundation for Management Development - Website: http: //www. efmd. be/

Fees • 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 European Foundation for Management Development - Website: http: //www. efmd. be/

Fees: Guided Development • 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 European Foundation for Management Development - Website: http: //www. efmd. be/