FEB UI Received Commendations on Strengths, Unique Features, and Effective Practices from Association to Advance Collegiate School of Business (AACSB)
After receiving international accreditation from Association to Advance Collegiate School of Business (AACSB) last October, the Faculty of Economics and Business, Universitas Indonesia (FEB UI) received commendations given by Peer Review Team (PRT) of AACSB for its excellence, namely Commendations on Strengths, Unique Features, and Effective Practices. This commendation was given for the initial accreditation of bachelor, master, and doctoral programs of FEB UI which was approved by the Board of Directors of AACSB at the end of 2022.
Based on the report from the PRT of AACSB assessment, these commendations were given for the four excellent aspects of FEB UI, which are industry impact and engagement; culture and leadership; quality of students; and resourcing and autonomy. FEB UI is considered highly respected by the Indonesian government, industry, and society. Its presence is also supported by a strong and large alumni network resulting in high inbound demand. In other words, FEB UI does not need to try too hard to reach out to the industry because FEB UI has established relationships with various parties and made positive contributions in its 72 years of history.
In the assessment of culture and leadership, FEB UI is seen as having a strong organizational culture and being supported by capable leaders. Furthermore, FEB UI is also considered a very selective business school so as to produce good quality students and produce outstanding alumni. In addition, FEB UI is considered to have good autonomy or authority in carrying out its operations and has sufficient resources.
Dean of FEB UI Teguh Dartanto, Ph.D. said, “We are definitely very grateful and happy for this positive feedback. However, as I have often said before, AACSB accreditation is a way, not a goal. It means that a way of how we transform ourselves and how we continue to make continuous improvement. AACSB accreditation is a means of FEB UI to continue to build a legacy in the future to produce inclusive, relevant, and reputable leaders. Hence, we must not be complacent and stop making improvements. We still have to strive together to maintain the existing accreditation.”
AACSB accreditation is one of the most prestigious accreditation agencies in the world of business schools, and this accreditation has been obtained for the first time by FEB UI, which is called Initial Accreditation. This accreditation is valid for five years, from October 2022 to October 2027. After five years, the PRT of AACSB will carry out a continuous improvement review (CIR) in 2027.
There are two areas of further concern for the CIR process, which is that FEB UI must increase the number of lecturers with Doctoral degrees and increase the classification criteria for Scholarly Academics. Furthermore, FEB UI also needs to differentiate competencies for each program as well as the expected achievements of graduates at each bachelor, master, and doctoral program.
“The struggle to maintain accreditation has more difficult challenges with the spirit of continuous improvement. We definitely no longer just stick to the same standards as before or in other words, we have to raise the bar. However, we believe that with good cooperation from the entire academic community of Universitas Indonesia, we can face the next challenges,” said Teguh.
