The Hindu Business Line : ICFAI biz school seeks global accreditation

The Hyderabad-based ICFAI Business School (IBS) is focusing on improving its ratings by gaining accreditation from globally reputed management education bodies.

The school has recently applied for accreditation from the Association to Advance the Collegiate Schools of Business (ASCSB) and expects the verification process to begin soon, S. K. Sharma, Director, IBS, told Business Line.

The ASCSB is an apex body that certifies business schools in the US; it has been jointly set up by 16 American Universities.

"It is the top certifying agency in the world," said Sharma.

The accreditation process, he said, is long and complex.

"Unlike other agencies, ASCSB engages with the institutions before making its decision on granting accreditation. It appoints a senior faculty member as an associate faculty in the institution concerned to personally study the systems and practices being followed," he explained.

The IBS expects the process to begin shortly. "The entire process will take over two years to complete," said Sharma.

The school has recently received accreditation from the Association of Management Development Institutions in South Asia.

"This body is recognised by the European Federation for Management Development (and will give us better mileage in Europe," he said.

On the domestic front, IBS was not particular about getting accreditation from the All-India Council of Technical Education (AICTE), Sharma said.

"Instead, we are in the process of receiving approval from the University Grants Commission for our universities.

As more and more States allow private universities, we will ramp up our universities in different States, " he said.

According to Sharma, the corporate world was not particular about institutes having AICTE approval.

"Campus recruitments this year attracted 270 companies and 2,551 students bagged placements. The average salary offered was Rs 5.4 lakh," he said.

For 2007-08, IBS has 4,000 students on its rolls.

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