The Indian Institute of Management (IIM), Bangalore has become the second business school in India to obtained the European Quality Improvement System (EQUIS) accreditation, a quality assessment system of business schools. Granted by the European Foundation for Management Education (EFMD), the accreditation is currently granted to 128 business schools in 35 countries. IIM Ahmedabad received the accreditation in 2008, the first Indian b-school to get one.
According to EFMD, “EQUIS looks for a balance between high academic quality and the professional relevance provided by close interaction with the corporate world. A strong interface with the world of business is, therefore, as much a requirement as a strong research potential. EQUIS attaches particular importance to the creation of an effective learning environment that favors the development of students managerial and entrepreneurial skills, and fosters their sense of global responsibility. It also looks for innovation in all respects, including programme design and pedagogy.”
The accreditation is granted after successful self-assessment procedure carried out by the institution, followed by a peer review visit by an international team of auditors. Apart from the quality of education in the school, EQUIS also looks for the ability of the school to forge international alliances and the ability of students to find jobs outside their home countries.