The Suleman Dawood School of Business (SDSB) at Lahore University of Management Sciences (LUMS) has become the first business school in Pakistan to be awarded the prestigious AACSB accreditation.
Founded in 1916, the AACSB International (Association to Advance Collegiate Schools of Business) is one of the premium accreditation authorities for business schools in the world and has a current membership number of 1,600. However, not all of its members receive the AACSB accreditation, as the accreditation has only been awarded to a little over 800 members of this highly influential and exclusive club.
AACSB was formerly known as the American Assembly of Collegiate Schools of Business and was set up an accrediting body in 1916 by a group of seventeen American universities and colleges. Its initial mandate was to offer accreditation to US business schools and colleges only, but the organisation expanded its wings in 1968, offering the first non-US accreditation to University of Alberta.
According to AACSB, as well as others who revere it, the AACSB Business Accreditation “signals to the world that an institution has met the most rigorous standards of excellence in business education”. Business schools that are awarded the AACSB accreditation are known for and acknowledged for maintaining excellent quality of their programmes at the undergraduate and graduate degree levels.
The AACSB accreditation if offered to only the best institutions that exhibit all-round prowess in imparting business education through various steps of self-evaluations, peer reviews, committee reviews, and the development of in-depth strategic plans.
Schools that receive the accreditation are subject to performance reviews every five years and gauged for putting in place process for continued improvement.
LUMS Vice Chancellor Dr Arshad Ahmad said achieving the “AACSB International accreditation is a resounding external validation of the quality of business programmes offered at LUMS”. “This recognition strengthens our collective resolve to achieve excellence through continuous improvement by taking teaching, research, and service to new heights.”