The Association to Advance Collegiate Schools of Business (AACSB), the longest-serving global accrediting body for business schools, has announced its accreditation of the School of Business at Stevens Institute of Technology.
The announcement caps a years-long period in which Stevens sought to earn accreditation from the most prestigious accrediting body of business schools worldwide. Less than 5 percent of business schools around the globe enjoy this distinction.
“It takes a great deal of self-evaluation and determination to earn AACSB accreditation, and I commend Stevens Institute of Technology for its dedication to management education, as well as its leadership in the community," said Robert D. Reid, executive vice president and chief accreditation officer of AACSB International, in a prepared statement. “Stevens has not only met specific standards of excellence, but has also made a commitment to ongoing improvement to ensure that the institution will continue to deliver high-quality education to its students.”
The accreditation announcement comes as Stevens transitions its narrowly focused school of technology management to a business school with technology at its core.
“Becoming a School of Business is an important step for us as we aim to inspire people about the roles of technology and analytics in business,” said Dr. Gregory Prastacos, dean of the School of Business at Stevens. “Earning accreditation from AACSB is an important milestone as we continue to define how a business school should educate students and conduct research in ways that are meaningful and valuable to organizations in the greater New York area and around the world.”
A plan to guide growth
To that end, the School of Business has been following a five-year strategic plan intended to guide its growth while reinforcing its mission to create impact in a technology-driven economy. The school has expanded its undergraduate business offerings to include majors in Marketing, Economics and Information Systems, among others, while graduate programs in Business Intelligence & Analytics and Finance have been added in recent years.
The university’s location in Hoboken, NJ, just across the river from Manhattan, has helped it create lasting research and consulting partnerships with businesses in New York, and has brought many of those companies to Stevens for recruiting; 95 percent of graduates in the Class of 2014 were placed in jobs or graduate school within six months of commencement.
The school’s success owes much to the foresight and generosity of the Howe family, especially Wesley J. Howe B.E. ’43, M.S. ’53, Hon. D. Eng. ’81, Hon. M.T.M. ’97, and his family. Dr. Prastacos said the Howe legacy will live on as the Howe Program of Technology Management at the School of Business.
“The Howe family’s generosity was critical in creating an important foundation as the Howe School of Technology Management,” Dr. Prastacos said. “Today, as a School of Business, we are building upon that foundation to create a unique institution for technology-focused business education and research. Our accreditation from AACSB is an important signal of our commitment to becoming a top business school and teaching tomorrow’s leaders to embrace the changing role of technology in the workplace.”