April 25, 2003
ISU School of Business receives
TERRE HAUTE, Ind. — The Indiana State University School of Business received word recently of its reaffirmation of accreditation by the AACSB International (Association to Advance Collegiate Schools of Business).
"This announcement reaffirms the long history of exceptional quality demonstrated by the Indiana State University School of Business," said Steven K. Pontius, provost and vice president for academic affairs.
"The School of Business faculty, staff and administrators strive for continuous improvement and the review process is just one way to achieve that goal."
The AACSB International is hosting a recognition reception honoring schools that are reaffirmed or receiving initial accreditation Thursday (April 24) in New Orleans.
The school underwent review for about three years, working with a team from the AACSB International. The School of Business remained accredited while under review for reaffirmation and has been accredited by the AACSB for the past 20 years.
"This has been a very healthy process for the School of Business to go through," said Ronald F. Green, dean of the School of Business. "We have implemented or changed a number things from revisiting our mission statement to looking at curriculum and student outcomes. There is still the issue of our building, which the AACSB recognizes is simply inadequate and doesn't support the learning environment the School of Business is trying to create."
The School of Business is hoping to move to the Federal Building at Seventh and Cherry streets, which would situate it between the ISU campus and downtown business community.
Details are being worked out between ISU, the General Services Administration and the U.S. Postal Service.
“Moving the School of Business to the Federal Building is important in the nurturing of the school’s relationship with the downtown business community,” said ISU President Lloyd W. Benjamin III. “It will be beneficial to the many outreach efforts of the School of Business through NetWorks, the Gongaware Center, the Small Business Development Center and CREED. The School of Business and the Terre Haute business community have much to offer one another. Whether it’s research opportunities, internships and co-ops for students, or business leaders speaking to a class, there are so many ways we can pool our knowledge and resources for the betterment of everyone involved.”
A search is being conducted now for an executive director of CREED, the Center for Research, Enterprise and Economic Development. CREED replaces the Center for Research and Management Services (CRAMS) and will act as a coordinating arm between the various external activities of the School of Business, to include the Small Business Development Center, the Gongaware Center and NetWorks. CREED will provide for a mechanism to support, encourage and coordinate the applied research mission of the School of Business as it relates to external outreach activities. CREED will have a three-pronged emphasis on applied research, enterprise development and economic development.
The reaffirmation of accreditation and the starting of CREED are only two of the many signs that the future continues to look bright for the School of Business, Green said.
“The ISU School of Business has many successes to be very proud of,” he said. “That success continues to grow over time because of the dedication of our faculty and staff, our excellent students and the constant drive to improve community outreach.”
Reaffirmation of the school’s accreditation provides external validation that the school and its faculty are preparing business students well for the future, said Connie McLaren, who worked closely with the review team.
"The AACSB expects an accredited school to understand its mission and continuously improve the processes that support it,” said McLaren, who is program coordinator in quality and decision systems and professor of decision sciences. “Our programs combine student experience with faculty expertise to develop graduates who will become exceptional business leaders.”
According to the AACSB International's website, 2,000 institutions in the United States offer degree programs in business, in which case 17.8 percent (or 355 of 2000) have achieved AACSB accreditation.
Accreditation is a process of voluntary, non-governmental review of educational institutions and programs. 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 accreditation is the hallmark of excellence in management education.