Despite established standards, no single approach to meeting standards for accreditation is suggested by AACSB. Programs with AACSB accreditation are encouraged to promote the standard using it to externally validate their quality and to market their programs to external groups including students, employers, and contributors (The Association to Advance Collegiate Schools of Business, n.d.-b). Earning this quality seal of approval, business programs can verify they have met the 21 AACSB standards that cover strategic, participant, and assurance of learning achievements and processes. Recent emphasis demanding external validation on the quality of Business Schools has resulted in the promotion of AACSB accreditation as the de facto quality standard. It is important to note, however, that membership does not imply that the program is accredited (The Association to Advance Collegiate Schools of Business, n.d.-a). An institution must be a member of AACSB in order to apply for accreditation. This number represents schools in 38 countries where the majority of programs incorporate both undergraduate and graduate education covering business, accounting, or both. As of December 2010, only 5%, or 607, of the academic business programs globally were accredited by AACSB. Being AACSB accredited means a business school is able to continuously pass a strict set of standards that. According to information at (n.d.), AACSB accreditation represents the highest standard of achievement for business schools worldwide. The Association to Advance Collegiate Schools of Business (AACSB) describes their accreditation as the hallmark of business education.
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