AACSB International

AACSB International was founded in 1916 and began its accreditation function with the adoption of the first standards in 1919. Additional standards for programs in accountancy were adopted in 1980. AACSB International members approved mission-linked accreditation standards and the peer review process in 1991. In 2003, members approved a revised set of standards that are relevant and applicable to all business programs globally and which support and encourage excellence in management education worldwide.

Accreditation is a process of voluntary, non-governmental review of educational institutions and programs. Institutional accreditation reviews entire colleges and universities. Specialized agencies award accreditation for professional programs and academic units in particular fields of study. As a specialized agency, AACSB International grants accreditation for undergraduate and graduate business administration and accounting programs.

AACSB International accreditation represents the highest standard of achievement for business schools, worldwide. Institutions that earn accreditation confirm their commitment to quality and continuous improvement through a rigorous and comprehensive peer review. AACSB International accreditation is the hallmark of excellence in management education.

AACSB International accreditation assures stakeholders that business schools:

• • Manage resources to achieve a vibrant and relevant mission.
• • Advance business and management knowledge through faculty scholarship.
• • Provide high-caliber teaching of quality and current curricula.
• • Cultivate meaningful interaction between students and a qualified faculty.
• • Produce graduates who have achieved specified learning goals.

YSB’s Efforts Toward Accreditation

YSB and its constituencies consider the accreditation process a pivotal opportunity to improve its educational programs. To successfully fulfill the school's mission and to excel in the current competitive environment, YSB initiated the process of seeking the AACSB accreditation in October 2003, immediately after becoming independent from the College of Business and Economics.

In early 2004, YSB submitted its Eligibility Application which was approved by the AACSB PreAccreditation Committee in May 2004. In August 2004, Dr. Arthur Kraft, the Dean of the College of Commerce at DePaul University was appointed as Mentor for the accreditation process. In March 2005, YSB submitted the Accreditation Plan (AP), and in April 2005, Dean Kraft raised an issue of the accreditation scope and advised YSB to rename the degrees IMBA and DBA in the Graduate School of International Studies (GSIS) at Yonsei University. YSB has worked closely with the GSIS to address the concerns of the AACSB, and eventually formed an agreement with the GSIS, which led to the cessation of the IMBA and DBA programs in June 2005. Subsequently, IAC accepted the AP on August 29, 2005, and YSB submitted annual reports four times until February 2007. Subsequently, on April 27, 2007, the IAC accepted the last annual report and invited YSB to begin the initial accreditation process

YSB has prepared the Self Evaluation Report and submitted to the AACSB International in April 2008. The IAC is expected to meet in July/August, to send its pre-visit letter to YSB, and the Peer Review Team will visit YSB from November 9 to 12, 2008. Based upon the recommendation of the team, the IAC will make a final decision by December 2008. YSB is confident that it will achieve accreditation for all business degree programs in 2008.

Since YSB entered the AACSB accreditation process in 2004, every aspect of YSB has been improved. YSB has become mission-driven and established a clear set of strategic objectives and action items. Faculty size has dramatically increased during the past five years and a strong culture of pioneering research has been enhanced. Learning goals of each degree program are now well aligned with the mission. A course-embedded assurance of learning system is in place, and effectively linked to curriculum development. As a result of the four-year preparation for accreditation, YSB not only has satisfied all the standards for accreditation, but also improved its education program quality and contributed to the advancement of the knowledge.

Chronology of YSB’s Efforts toward Accreditation

Date	Activities
March 2004	YSB submitted the Eligibility Application
August 2004	Dean Arthur Kraft visited YSB as Mentor
March 2005	YSB submitted the Accreditation Plan.
May 2005	YSB revised and resubmitted the Accreditation Plan
August 2005	Accreditation Plan was accepted by IAC
December 2005	1st Annual report was accepted by IAC
April 2006	2nd annual report was accepted by IAC
September 2006	3rd annual report was accepted by IAC
April 2007	Final annual report was accepted by IAC YSB was invited to apply for initial accreditation
June 2007	YSB submitted an application for initial accreditation and peer review team nomination.
October 2007	Dean Thomas G. Gutteridge was appointed peer review team chair
February 2008	Dean Yar M. Ebadi and Dean John Seybolt were appointed peer review team members
April 2008	YSB submitted the Self-Evaluation Report
November 2008	The Peer Review Team will visit YSB
December 2008	YSB plans to achieve the initial accreditation for all business degree programs