LBS achieves landmark global accreditation
The Lagos Business School (LBS) has become the first institution in West Africa to be accredited by the Association to Advance Collegiate Schools of Business (AACSB). With effect from December 1, 2016, LBS joined the league of less than five percent of business schools globally to be accredited by this body.
AACSB is the leading global accreditation body for business schools offering undergraduate, masters and doctorate degrees in Business and Accounting. Founded in 1916, AACSB has its headquarters at Tampa, Florida, United States of America and is the largest business education network, linking students, academia and businesses to advance the cause of business education around the world.
By the feat of AACSB Accreditation, LBS has once more distinguished itself as a management education provider of high repute in Africa. Only four other schools in the entire continent have this accreditation; three in South Africa and one in Egypt.
The accreditation process is designed to validate business schools that are committed to global standards of excellence in strategic management and innovation, student experience and quality of both teaching and non-teaching staff.
This accreditation affirms LBS’s undeniable commitment to world-class standards in teaching, learning, research, academic and professional management over the last 25 years. The rigorous accreditation process of AACSB International and the LBS’ ability to scale all the hurdles by sheer determination and strong leadership, have more than ever confirmed LBS’ status as one of the most distinguished business schools in Africa.
In his congratulatory message, the Vice President and Chief Accreditation Officer of the global accrediting body, Robert D. Reid said: “Congratulations, Lagos Business School and Dean, Enase Okonedo on being the first institution in Nigeria to earn accreditation. We welcome them into the family of AACSB-accredited business schools. AACSB Accreditation represents the highest achievement for an educational institution that awards business degrees. The entire Lagos (LBS) team – including the administration, faculty, directors, staff and students – are to be commended for their roles in earning accreditation.”
The AACSB International accreditation, among other benefits, accords students of accredited schools the opportunity to participate in international student exchange programmes with other accredited schools. It also increases students’ competitiveness in the domestic and international labour markets, helping them get recognised worldwide by top employers and other universities.
In addition, the accreditation provides faculty members of these business schools with opportunities for in-depth research and global recognition. Faculty and staff of accredited schools are assured of the school’s visibility and increased capacity to attract top quality students for their programmes. Alumni of accredited schools can be proud of their alma maters’ global visibility and recognition – a validation of the quality of their certificates.
LBS earned this global accreditation mainly because of its commitment to the core values of professionalism and ethics and in passionately pursuing its objectives of providing high potential professionals with a general management education which stresses professional ethics and service to the community through the practice of management; making a positive impact on the professional and ethical standards of business management in Nigeria as well as making intellectual contributions that support the practice of management; contribute to the advancement of the management disciplines; and create high quality teaching materials.
AACSB accredited schools are hubs of learning that guarantee high quality teaching, have a distinguished team of lecturers, deliver relevant and challenging curriculum, and provide educational and career opportunities that are not found at other business schools. These schools also have students with high-graduating GPA’s who are more internationally recognized and are likely to earn higher levels of education.
Some schools which already are accredited by the AACSB are Harvard University – Harvard Business School (United States of America), IMD (Switzerland), Imperial College London – Imperial College Business School (England), IESE Business School (Spain), University of Cape Town – Graduate School of Business (Cape Town, South Africa) and Yale University – Yale School of Management (Connecticut, USA).
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