EFMD Quality Improvement System, popularly known as EQUIS, is a leading international system of quality assessment, improvement and accreditation of business schools. Its rigorous peer-review process communicates a B-schools overall quality and self-improvement commitment to students, employers and academic partners worldwide.
EQUIS is an accreditation offered by European Foundation for Management Development (EFMD), which was founded in 1972 as a global, non-profit, membership-driven organisation dedicated to management development. EFMD states that its mission is to “Act as a catalyst to promote and enhance excellence in management development globally.”
As of January 2023, there are 209 EQUIS accredited schools across 45 countries globally. As of January 2023, there are only six EQUIS Accredited Business Schools in India.
EQUIS accreditation process is based upon “a conceptual framework of quality criteria which are reviewed continuously by an international committee of EFMD members.” The EQUIS evaluation considers each component of the framework and the inter-relationships between them. Standards have been developed for each component.
EQUIS Accredited Business Schools in the World - 2023
EFMD being a European organization, it is no surprize that the greatest number of EQUIS accredited B-schools are from Europe.
Here is a breakup of EQUIS Accredited Business Schools in the World:
- Europe: 110
- Asia: 46
- Oceania Australia: 18
- North America: 17
- Central / South America: 10
- Africa: 4
- Middle East: 4
EQUIS Accredited Business Schools in India – 2023
In India, There are six Business Schools who have received EQUIS accreditation in India. EQUIS Accredited Business Schools in India include top IIMs like IIM Ahmedabad, IIM Bangalore and IIM Kozhikode. Indian School of Business (ISB) is also EQUIS accredited.
EQUIS Accredited Business Schools in India are:
- Indian Institute of Management Ahmedabad (IIMA) (5 years)
- Indian Institute of Management Bangalore (IIMB) (5 years)
- Indian School of Business (5 years)
- Indian Institute of Management Calcutta (IIMC) (3 years)
- Indian Institute of Management Kozhikode (IIMK) (3 years)
- Indian Institute of Management Indore (IIMI) (3 years)
EFMD Programme Accredited Business Schools in India – 2023
While the EQUIS accreditation process offered by EFMD is valid for an entire Business school, with EFMD Accreditation it is possible for a Business Schools to have certain degree programs accredited rather than the entire school. Only two B-schools namely Woxsen University's School of Business and SDMIMD Mysore have received the EFMD Program Accreditation. While Woxsen received this accreditation for MBA program, SDMIMD received it for its PGDM program. Both accreditations are initially for three years.
EFMD Programme Accredited Business Schools in India
- Woxsen University's School of Business (3 years)
- SDMIMD Mysore (3 years)
According to EFMD, “EFMD programme accreditation is the most thorough programme accreditation system for business and/or management degrees and courses, including face-to-face, blended and online provisions. It constitutes a benchmark for what is considered an internationally recognised and peer-reviewed programme.”
As more Indian B-schools make efforts to internationalize, the number of EQUIS Accredited Business Schools in India are expected to increase in coming years. Above are six Business Schools who have received EQUIS accreditation in India.
Stay tuned to MBAUniverse.com for more updates on EQUIS Accredited Business Schools in India.