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headlines AACSB Members Approve New Standards Members of AACSB International, headquartered in Tampa, Florida, voted to implement a new set of accreditation standards designed to help business schools meet the changing needs of business and society. The vote took place April 8 at the association's International Conference and Annual Meeting in Chicago. AACSB's Blue Ribbon Committee on Accreditation Quality (BRC) drafted the standards after two years of study and collaboration with the global management education community. The new standards focus on three themes: driving innovation at business schools; ensuring that business schools make an impact through both scholarly education and the creation of new knowledge; and encouraging significant engagement among faculty, students, and business professionals. Because the committee eliminated overlap between existing standards, the number of standards has also been reduced from 21 to 15. The association has developed a plan to support member schools as they transition to the new standards, which are expected to be fully in place by July 2016. Under the new standards, schools will intensify their focus on their distinctive missions and value proposi- tions, says Richard E. Sorensen, chair of the BRC and dean of the Pamplin College of Business at Virginia Tech in Blacksburg. He notes, "Students, employers, and society as a whole expect a great deal from business schools—especially when it comes to addressing the most challenging issues of the world. In this context of constant change, the new accreditation standards will not only validate quality management education and impactful research, but also help business schools provide the leadership, skills, and knowledge necessary to the communities they serve." It is a time of unprecedented change for business schools, adds Joseph DiAngelo, chair of the AACSB board of directors and dean of the Erivan K. Haub School of Business at Saint Joseph's University in Philadelphia, Pennsylvania. "To remain current, leaders within the industry had to stand back and evaluate where management education needed to go," he says. "Throughout this process, we looked deeply at the marketplace to determine new routes to relevance, to ensure business schools are developing the type of leaders that society needs for the future. The changes will keep business schools at the heart of global commerce." To learn more about AACSB's newly adopted standards, visit Earlier this year, His Royal Highness The Prince of Wales attended the opening of the new wing of the University of Oxford's Saïd Business School in the United Kingdom. The new building, completed in summer 2012, includes lecture theaters, flexible classrooms, boardroom-style meeting spaces, and a Club Room where executives and faculty can network. The sustainably designed building uses geothermal and solar energy, harvests rainwater, and sports a green roof. During the prince's visit, he met with faculty and center directors to hear about their research on topics such as social entrepreneurship. He also met with Steve New—with whom he is seen shaking hands in the picture at right—Sue Dopson and Michael Fischer to discuss a study about knowledge mobilization among healthcare leaders. 10 May/June 2013 BizEd Davi d Fish e r Photog raphy The Prince Takes Care of Business

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