News Release

REF NO.: 96

SUBJECT: Memorial's business faculty renews international accreditation

DATE: May 30, 2017

Memorial University’s Faculty of Business Administration has successfully renewed its international accreditation to hold its place among the top business schools in the world.

The faculty was among 81 business schools across the globe to extend their accreditation by the Association to Advance Collegiate Schools of Business (AACSB) International, the longest-serving global accrediting body for business schools that offer undergraduate and graduate programs in business and accounting. Founded in 1916, AACSB accreditation offers a professional standard to recognize a high-quality teaching environment, a commitment to continuous improvement and curricula that is responsive to the needs of businesses.

Considered the hallmark of excellence in business education, less than five per cent of business schools worldwide have earned this distinction. Currently, 789 business schools in 53 countries and territories maintain AACSB accreditation.

The Faculty of Business Administration was first accredited in 2002 – the first business school in Atlantic Canada to achieve this distinction – and is currently one of 22 schools in Canada to hold AACSB accreditation. It’s the third time Memorial’s accreditation has been successfully renewed.

“AACSB accreditation enables us to focus on continually improving our programs while planning strategically for our future, and renewing our accreditation three times demonstrates our continued commitment to being one of the best business schools in Canada,” said Dr. Wilfred Zerbe, dean of the business faculty. “It indicates that we on the right path in providing a top quality business education for students in Newfoundland and Labrador, and that our programs are on par with any business program in the world.”

AACSB accreditation requires a rigorous process of internal and peer review. Maintaining accreditation involves a multi-year continuous improvement process and strategic planning that aligns with accreditation standards. These standards require excellence in areas relating to strategic management and innovation: teaching and learning; engaging students, faculty and staff as active participants; and academic and professional engagement.

The Faculty of Business Administration currently offers three undergraduate programs and four graduate programs, including a PhD in management, and is the only post-secondary institution in Atlantic Canada to offer a master of science in management. It has 2,178 undergraduate students, 201 graduate students and more than 10,000 alumni worldwide.

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