Institute of Business Studies (IBS-Moscow) Becomes the First Business School in Russia to Earn AACSB International Accreditation

Tampa, Fla., USA (25 April 2019)—AACSB International (AACSB) is pleased to announce that the Institute of Business Studies (IBS-Moscow) of the Russian Academy of National Economy & Public Administration (RANEPA) is the first business school in Russia to earn business accreditation from AACSB. Founded in 1916, AACSB is the longest-serving global accrediting body for business schools, and the largest business education network connecting students, educators, and businesses worldwide.

“AACSB accreditation recognizes institutions that have demonstrated a focus on excellence in all areas, including teaching, research, curricula development, and student learning,” said Stephanie M. Bryant, executive vice president and chief accreditation officer of AACSB International. “We congratulate IBS-Moscow Dean and RANEPA University vice-rector Sergey Myasoedov on earning accreditation, and applaud the entire IBS-Moscow team—including the administration, faculty, staff, and students — for their roles in earning this respected honor.”

Synonymous with the highest standards of quality, AACSB accreditation inspires new ways of thinking within business education globally and, as a result, has been earned by only 5 percent of the world's schools offering business degrees at the bachelor level or higher. Today, 845 institutions across 56 countries and territories maintain AACSB accreditation. Furthermore, 189 institutions maintain a supplemental AACSB accreditation for their accounting programs

“I am proud that a business school of RANEPA has become the first Russian business school to earn AACSB accreditation. RANEPA is the leader of both public policy and management education in Russia, with well developed and intensive International cooperation,” said Vladimir Mau, Rector of RANEPA. “I am sure that AACSB accreditation will help us to establish cooperation with the new partners from the reputable AACSB family, and to develop new, innovative, and mutually beneficial international projects.”

“IBS-Moscow deservs to be the first one in the Russian history to get AACSB accreditation. It has expertise in both global and local management practice, and provides education that helps,” said Maxim Kuznetsov, CEO of Phillips in Russia and the Commonwealth of Indepenent States, and alumnus of RANEPA. “I am working for Philips — a leading health technology company in the world focusing on consumer electronics and professional medical equipment. It is hard to underestimate the role quality and relevant business education has on our shared performance. I am a proud RANEPA alumnus and I am thankful to my alma mater for the business-driven curriculum and an open mindset it instilled in me. I believe this accreditation is just another testament of the great work and passion IBS-Moscow team has for what they do. Well done, and congratulations once again on the great achievement!”  

“AACSB accreditation is best evidence of the fact that IBS has achieved a major strategic objective and has joined the global family of social responsible leaders of high quality management education,” said Sergey Myasoedov, Vice-Rector of RANEPA, Director of IBS-Moscow of RANEPA. 

“This is an important milestone for IBS-Moscow of RANEPA. Becoming AACSB accredited is a truly great accomplishment. For more than 20 years, IBS-Moscow has been our trusted partner for the joint Executive MBA program in Moscow, a program which has been ranked in the Financial Times for many years. Our intense cooperation has proven to be beneficial for both,” said Koen Vandenbempt, Academic Director of Strategic Partnerships for the double-degree EMBA program of Antwerp School of Management and IBS-Moscow, and Dean of the Faculty of Business and Economics at the University of Antwerp, Belgium. “With IBS-Moscow becoming AACSB accredited, our relationship will further grow and develop. With its focus on developing a global mindset, on strengthening the personal development of its participants and on fostering a more sustainable managerial practices, IBS-Moscow is leading in the continuous development of the Russian business schools. I’m proud to be their partner.” 

AACSB accreditation provides a framework of 15 international standards against which business schools around the world assess the quality of their educational services. These standards ensure continuous improvement and provide focus for schools to deliver on their mission, innovate, and drive impact. AACSB-accredited schools have successfully undergone a rigorous review process conducted by their peers in the business education community, ensuring that they have the resources, credentials, and commitment needed to provide students with a first-rate, future-focused business education.  

“As the first in Russia, IBS-Moscow’s commitment to earning accreditation is a true reflection of their dedication — not only to their students, alumni network, and greater business community, but to the higher education industry as a whole,” said Bryant. “Today’s students are tomorrow’s business leaders, and the addition of the IBS-Moscow to the network of AACSB-accredited business schools will have a lasting positive impact for their institution, both locally and globally.”

AACSB also announced that the American University of Kuwait (Kuwait), Brooklyn College of the City University of New York (United States), La Trobe University (Australia), Mahidol University International College (Thailand), Radboud Universiteit Nijmegen (the Netherlands), the University of Exeter (United Kingdom), the University of Kent (United Kingdom), and the University of Turku (Finland) have earned accreditation in business. 

About AACSB International 

As the world’s largest business education alliance, AACSB International (AACSB) connects educators, students, and business to achieve a common goal: to create the next generation of great leaders. Synonymous with the highest standards of excellence since 1916, AACSB provides quality assurance, business education intelligence, and professional development services to more than 1,600 member organizations and over 800 accredited business schools worldwide. AACSB’s mission is to foster engagement, accelerate innovation, and amplify impact in business education. The global organization has offices located in Tampa, Florida, USA; Amsterdam, the Netherlands; and Singapore. For more information, visit aacsb.edu.

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