IIM Raipur has been awarded the associate membership of European Foundation for Management Development (EFMD). EFMD is a not-for-profit network association in the field of management development. EFMD has over 800 member organizations in 82 countries. The membership to EFMD affords IIM Raipur an opportunity to exchange information, network, research and debate on innovation and management practices with other member colleges.
Business school members of EFMD include INSEAD, LBS, IMD, IE, RSM, Cranfield, TUCK, HEC – Montréal, CEIBS, Antai, Pontificia Universidad Católica de Chile, INCAE, Korea University, University of Sydney, University of Cape Town, IIM Ahmadabad and many other leading schools from around the world. Company membership has a more European feel and includes companies like Alcatel-Lucent, Allianz, BBC, Capgemini University, Deutsche Bank, IBM, Intel, etc.
EFMD also drives the European Quality Improvement System (EQUIS) that is a leading system of quality assessment, improvement and accreditation for B-schools worldwide. EQUIS accreditation is awarded on the basis of the school’s general quality. It is somewhat different from other accreditations like AACSB as it emphasizes the school’s level of internationalization. About 150 schools around the world have been accredited by EQUIS. Of these, only two Indian schools have so far been accredited – IIM-A and IIM-B.
Membership of the EFMD is a step forward in what is a long drawn process of quality improvement leading to accreditation by EQUIS. With this membership, IIM Raipur joins the list of select few Indian B-schools who would work towards the EQUIS accreditation.
For a school that has an International strategy and is looking to connect and engage with the other leading schools and companies around the world this membership offers several other benefits besides the EQUIS accreditation. EFMD organizes activities targeted towards Deans, MBA, Executive Education, Undergraduate, Masters, Doctoral, External Relations, Career Services, Research, Public Sector, Entrepreneurship, Responsible Leadership (CSR / Sustainability), Management education in Africa, the Middle East & North Africa & Asia. EFMD also organizes a host of advisory seminars covering key issues for school that includes publications, research, international project, the business school impact survey (BSIS), case writing & doctoral research awards, etc.
IIM Raipur is already an associate member of AACSB and is pursuing its accreditation. Acquiring accreditation from AASCB, EFMD and AMBA is often regarded as a ‘Gold standard’ for a B-school as these require it to undergo a rigorous process of scrutiny and quality improvement.