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Business Administration ( Fredericton ) Should Pursue Third Party Accreditations As Part Of Its Strategy

Decent Essays

Purpose:
The purpose of this memo is to share my thoughts and recommendations with my team member whether the UNB Faculty of Business Administration (Fredericton) should pursue third party accreditations as part of its strategy.

Summary:
Based on the discussions, analyses and interviews, the Faculty of Business Administration (Fredericton) faces real challenges whether they should pursue third party accreditations in particular the well-known AACSB accreditation in light of the following points:
1) UNB Faculty of Business Administration (Saint John) is already working on achieving the AACSB accreditation,
2) The direct and indirect benefits and costs of AACSB accreditation,
3) The recent changes in the AACSB Accreditation Standards for Business and Accounting,
4) The impact and view of the stakeholders on the accreditation value, and
5) The consideration of the being accredited by AACSB on the short and long-term strategy of the Faculty of Business Administration (Fredericton).
The final decision in regard to AACSB accreditation should take into consideration the overall cost/benefit for all stakeholders, the impact on long-term for the Faculty of Business Administration (Fredericton), and how this initiative will support the strategic direction and plan. Discussion:
The current situation: On January 3, 2014, UNB Faculty of Business Administration (Saint John) became a member of AACSB. Although joining the AACSB does not confer accreditation and should not be interpreted

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