Indian Institute of Management Indore (IIM Indore) has been awarded the EFMD Quality Improvement System (EQUIS) accreditation by EFMD, the globally recognized international organization for management development. The EQUIS Accreditation Board voted to confer EQUIS Accreditation on IIM Indore on December 10, 2019. IIM Indore is now the second IIM in the nation to receive triple accreditations, bringing glory to the Institute with a ‘Triple Crown’, i.e. receiving all the three prominent accreditations — Association of MBAs (AMBA, UK); The Association to Advanced Collegiate Schools of Business (AACSB, USA); and EQUIS, European Union. This combination of accreditations is held by less than one percent of business schools in the world, granted by the largest and most influential business school accreditation agencies. As of March 2019, the ‘Triple Crown’ was received by only 90 business schools globally, out of the 13,000+ schools offering business degree programmes.
Speaking on this occasion, Professor Himanshu Rai, Director IIM Indore, said, “This puts us on the world stage among less than 100 Institutions who have the distinction of having the triple Accreditation. This marks the culmination of years of hard work put in by our institute, with a single minded determination to be a world class institution that aspires to global benchmarks to contribute to nation building.”
“Business schools around the world are looking at IIM Indore for the socially conscious courses and programs that we offer. We were awarded the prestigious Rural Engagement Programme and the Himalayan Outbound Programme, and students across countries want to join us in our endeavors. The EQUIS accreditation and the triple crown will make us a favored destination for schools across the globe”, he added.
EQUIS accreditation is the most comprehensive institutional accreditation system for business and management schools. It is acknowledged worldwide by potential students, faculty, employers, corporate clients and the media; often a pre-requisite for an entry into the ranking system. EQUIS accreditation ensures a rigorous quality control that benchmarks a school against international standards, in terms of governance, programmes, students, faculty, research, internationalization, ethics, responsibility and sustainability, as well as engagement with the world of practice. EQUIS covers all the activities of a school, including degree and non-degree programmes, knowledge generation and contribution to the community. Currently, there are just 40 schools in Asia that has received the EQUIS accreditation.
Established in 1996, IIM Indore has completed 23 glorious years and has achieved multiple milestones, and proudly stands at NIRF Rank 5 in the year 2019. The institute has also bagged a rank in the top 100 FT Rankings 2019 and has been placed in the 101+ bands in the World QS Rankings 2019 for Indian Business Schools.
The first accreditation was received from the Association of MBAs, a UK-based accreditation agency, for four of its full-time programmes. The accreditations were received for the Two Year Post Graduate Programme in Management (both at Indore and Mumbai); One Year Full Time Executive Post Graduate Programme in Management (EPGP); and Five Year Integrated Programme in Management (IPM, 4th and 5th Year) in the year 2016. IIM Indore received the re-accreditation from AMBA for next five years in November 2019.
The second prestigious accreditation was received from the Association to Advance Collegiate Schools of Business International (AACSB) in January 2019. The AACSB is the longest-serving global accrediting body for business schools, and the largest business education network that connects students, educators, and businesses worldwide. Today, 831 institutions across 54 countries and territories maintain AACSB accreditation.
The third accreditation received from EQUIS, not only makes IIM Indore a ‘Triple Crown’ school, but also, only the second IIM to receive this accreditation, after IIM Calcutta.
With an aim to impart high quality management education and training, IIM Indore seeks to be a contextually relevant business school with world class academic standards that develops socially conscious managers, leaders and entrepreneurs. With this objective, the Institute ensures that faculty members and participants receive global exposure for research and via student exchange. In the year 2019, IIM Indore has signed multiple MoUs with renowned foreign institutions such as: University of Queensland (Faculty of Business, Economics & Law); MIP Politecnico di Milano Graduate School of Business, Italy; and with Lal Bahadur Shastri National Academy of Administration, Mussoorie, India. The Institute has also signed a MoU with Times Professional Learning under Bennett, Coleman & amp; Co. Ltd. and VCNow, under Unified Collaboration Services, a knowledge initiative of one of the leading providers of education in the domain of executive education.
The Institute believes in the ideology of innovation and hence became the first ever IIM to offer an undergraduate programme – Five Year Integrated Programme in Management. Further, the Institute won the Association of MBAs (AMBA) Business Excellence Award 2019 in the category of Business School Impact on Community and Society on February 01, 2019 for its Rural Engagement Programme (REP) which is focused to help the participants learn leadership, decision making, and team-work in real life situations. IIM Indore also received a certificate of commendation for the Himalayan Outbound Programme under the MBA Innovation category. IIM Indore currently has campuses in Mumbai and Indore, offering multiple academic and executive programmes. The Institute has also launched a General Management Programme for Executives in Dubai – which is conducted on weekends, similar to the one in Indore campus.
IIM Indore believes in contributing to the society and nation as a whole. From protecting the environment by conducting tree plantation drives and making the campus plastic-free, to contributing to the improvement of the traffic system along with the Madhya Pradesh Government in the city, the institute has and will always be proactive in creating meaningful changes.