Global accreditations help underline value of studying in an emerging market, say experts.
The University of Cape Town Graduate School of Business (UCT GSB) in South Africa and 14 other business schools from around the world have been re-accredited by the European Foundation for Management Development (EFMD) with the EQUIS stamp of approval.
The EFMD awarded its European Quality Improvement System (EQUIS) to the UCT GSB because the school has shown continuous quality improvement in line with international standards regarding governance, programmes, students, faculty, and research as well as internalisation, ethics, responsibility and sustainability.
“The UCT GSB is honoured to share the EQUIS accreditation with world-class business schools from around the world,” says UCT GSB Business Acting Director Kosheek Sewchurran. “It shows that our commitment to internationalisation as well our efforts to keep the business school at the cutting edge of management education in Africa is really paying off.”
The UCT GSB is one of 14 schools to be re-accredited and joins just 180 business schools across 44 countries that have EQUIS accreditation. The school was the first business school in South Africa to achieve EQUIS in 2001 and has successfully maintained this over 17 years. It is also one of only three business schools in Africa to have triple-crown accreditation, meaning it is also accredited by the Association to Advance Collegiate Schools of Business (AACSB) and The Association of MBAs (AMBA).
“Accreditations aim to enhance standards in business education and promote excellence in management development and schools need to reapply for accreditation every three to five years, so it is an exercise in continuous self-assessment and improvement,” says Associate Professor Sewchurran.
Sewchurran adds that international mobility in today’s global business world is a key requirement and accreditations help schools in emerging markets to demonstrate international relevance, allowing them to attract international students and faculty who are looking to differentiate themselves in today’s competitive climate.
The QS GlobalEmployer SurveyReport
found that more than 80% of 10,000 employers in 116 countries on five continents actively look for graduates who have studied overseas. In a global economy, international experience, intercultural skills, adaptability and practical experience are highly valued.
“An MBA in a fast-growing emerging market economy offers all this and more to international students,” says Sewchurran. “Because of the high degrees of complexity and uncertainty these markets present, it makes them fertile ground for business students looking for an edge.”
“An MBA in an emerging market is a rich experience in innovating solutions – the life-blood of modern business,” agrees Amena Hayat Career Services Manager at the UCT GSB. And because much of the innovation in emerging markets is driven by a very real need to solve challenges such as a lack of healthcare or education, it is, by definition, concerned with sustainability – which offers another interesting facet to the degree, she adds.
Studying in an emerging market can also help students cultivate can-do attitudes, strengthen their ability to collaborate across cultures, and build their humility.
“While many top ranked schools around the world offer study tours and semester abroad options for students – the value of a full, year-long immersion in this environment prepares you for the real world of business like nothing else can,” says Hayat.
An MBA in an emerging market can also offer students good value for money as fees in local currencies compare favourably to those in dollars, euro or pounds.
“When you combine this with solid the accreditation and the immersion in business on the frontier, there is tremendous advantage offered to international students,” says Hayat.
Issued by: Rothko PR on behalf of the UCT Graduate School of Business