MACAU, July 4 – The Faculty of Business Administration (FBA) at the University of Macau (UM) has officially received the EFMD Quality Improvement System (EQUIS) accreditation from the European Foundation for Management Development (EFMD). With the achievement of this prestigious accreditation, the FBA now joins an exclusive group of business schools around the world that have obtained accreditations from the three main international accreditation bodies: EQUIS in the European Union, the Association to Advance Collegiate Schools of Business (AACSB) in the United States and the Association of MBAs (AMBA) in the United Kingdom. There are only 116 triple-accredited business schools in the world.
FBA is the first and only business school in Macau to have received EQUIS accreditation. There are currently 207 EQUIS accredited schools in 45 countries around the world. 45 of them are located in Asia and include Peking University, Zhejiang University, University of Hong Kong, Hong Kong University of Science and Technology, and National University of Singapore.
According to UM Rector Yonghua Song, FBA obtaining EQUIS accreditation is of significant significance: “First, with this accreditation, FBA can better compare itself with international standards and promote further development. Secondly, the FBA can provide more innovative courses which are important for the promotion of economic diversification and regional integration of Macau in the Greater Bay Area, especially in the fields of finance, accounting, tourism management and data science. Third, the FBA can further improve the quality of its teaching and produce more outstanding professionals for Macau and China.
Reflecting on the journey of EQUIS accreditation, Professor Ge Wei, Acting Dean of FBA, says, “FBA has already obtained accreditation from AACSB and AMBA. Obtaining EQUIS accreditation will put the faculty further on the map of the best business schools in the world. This is a new start for our faculty.
EQUIS is the leading international system for assessing, improving and accrediting the quality of higher education institutions in management and business administration. Institutions accredited by EQUIS must demonstrate not only high general quality in areas such as management, teaching and research, but also a high degree of internationalisation. With the aim of providing an excellent framework for quality assessment in very diverse institutional and cultural contexts, EQUIS was created in 1997 by a mandate from the member business schools of the EFMD, with the specific active support of schools of commerce ranked among the best in Europe.