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Headlines AACSB Tackles Critical Issues As part of its expanded role as a thought leader for management education, AACSB International has issued two papers on critical topics. One articu- lates the value of management edu- cation today; the other addresses the problems posed by media rankings and how to solve them. Each report was issued by a task force of the Committee on Issues in Management Education (CIME). In "The Business School Rankings Dilemma," the committee members acknowledge that media rankings have helped promote business schools in general and theMBA in particular. However, they say the ranking methods used by Wall Street Journal, BusinessWeek, Financial Times, Forbes, U.S. News &World Report, and other media outlets can have "serious negative impacts on business education." According to the report, problems with the rankings include a reliance on inconsistent data and subjective opinions; too much emphasis on short-term performance; use of blan- ket criteria that do not differentiate among schools with varying missions or orientations; and emphasis on full- time rather than part-time programs. The committee members offered four recommendations: sThat AACSB develop a global communications program to engage the media, educate the public about the limitations of the rankings, and assist business school leaders in deal- ing with issues related to rankings. sThat AACSB define and collect better indicators of program quality, such as academic qualifications of fac- ulty and research. AACSB is already collaborating with theMBA Career 12 BizEd NOVEMBER/DECEMBER 2005 Services Council and the Graduate Management Admission Council to organize data for media surveys. sThat AACSB strengthen the ex- ternal value of accreditation through a media campaign and a partnership with accredited institutions. sThat AACSB commission studies about themethods, validity, and im- pact of rankings, as well as the link be- tween research, teaching, and practice. The task force was chaired by Robert Duncan ofMichigan State University. Other CIME members who participated were Sung Joo Park of KAIST, Andrew Policano of the University of California Irvine, Sharon Smoski of State Farm Insurance Companies, and Dan LeClair, vice president and chief knowledge officer of AACSB International. The report is available online at www.aacsb.edu. In another report prepared by a second CIME task force, committee members outline the contributions management education has made to the world. The paper, "WhyManage- ment EducationMatters," points out that business has transformed the world over the past century. The report goes on to look at how management education offers Also from AACSB As part of a campaign to promote the value of accreditation worldwide, AACSB International has produced a new set of materials designed to communicate with a range of management education stakeholders. A brochure titled "Excellence. The Best Business Schools in the World" is targeted at members of the business community, including CEOs, human resources profession- als, recruiters, and advisory boards. It is accompanied by a pamphlet titled "The Best Business Schools in the World," which is a compilation of all schools accredited by the association. For students, AACSB has produced a brochure called "Choosing the Right Business School," which emphasizes that AACSB accreditation should be among the most important criteria used in making this decision. For information about and copies of these accreditation materials, call AACSB at 813-769-6500. value to three distinct groups. Management education benefits individuals by giving them practical skill and offering them the means to create personal wealth. Management education benefits organizations by providing cutting-edge ideas that help improve efficiency and by offer- ing a fertile environment for the development of new ideas. It bene- fits society because it facilitates eco- nomic development and provides opportunities to an increasingly diverse population. The task force was co-chaired by Patrick Liverpool of Delaware State University and PatriciaMeyers of the University of Dayton. Other CIME members who worked on the report include Ángel Cabrera of Thunderbird; Lee Caldwell of Dixie State College; Paul Danos of Dartmouth College; Fred Evans of California State University in Northridge; Stuart Greenbaum of Washington University; Andrew Policano; Stephen Watson, scholar in residence at AACSB; and Anne Graham, executive vice president and chief operating officer of AACSB. Information about obtaining the report is available from AACSB at 813-769-6500 or www.aacsb.edu.