The Road to AACSB International Accreditation – Interview with Dr. Beáta Fehérvölgyi

The Faculty of Business and Economics (FBE) of the University of Pannonia has joined the Premier League of business schools, ranking among the top six percent worldwide with its AACSB international accreditation. While the finishing touch has just been placed, as in many cases, the journey to this achievement was just as significant as the goal itself. We spoke with Dr. Beáta Fehérvölgyi, Dean of FBE, about the process and outcomes.

The Accreditation Process

This international accreditation is the result of several years of preparatory work. How does such a process unfold?

Accreditation is similar to corporate auditing processes. Essentially, it is a quality assurance certification that verifies whether the applicant meets the strict standards set by the accrediting body. The AACSB (Association to Advance Collegiate Schools of Business) was founded in the early 1900s, originally for American business schools. Today, AACSB is the most recognized accreditation for business schools, and only six percent of universities worldwide have achieved it. In Hungary, the University of Pannonia's Faculty of Business and Economics is the second institution to receive this accreditation.

The process itself is quite lengthy for every institution. For FBE, it took seven years. This is because the accreditation is highly strategy-focused and mission-driven, requiring us to align our operations accordingly. The starting point is always an honest self-assessment and a precise definition of where we want to be within a given timeframe. The accreditation process is flexible in the sense that it considers cultural differences, national higher education regulations, and institutional policies. All our reports were evaluated by a three-member international committee, who provided feedback based on our 60-80 page submissions. The process allows institutions to refine and improve their reports based on the committee’s recommendations before moving on to the next stage. For FBE, this meant revising certain sections and submitting supplementary reports multiple times before our final report was approved.

Dr. Beáta Fehérvölgyi, Photo: Marcell Fux

The On-Site Visit

In November last year, the committee visited in person...

Yes, in November 2024, a site visit committee came to us, and we had been preparing for this meeting for more than a year. The committee members—hailing from Germany, Slovenia, and the United States—were all deans at their respective institutions. They had studied our materials in advance and asked clarifying questions during the visit, which we had to answer. I believe our guests were very kind and supportive, but they were also well-prepared. From our reports, they knew our internal and external processes in detail and asked many questions. It was not an easy experience.

The three-day visit followed a strict schedule. The committee dictated the agenda, deciding whom they wanted to speak with and about what matters—whether it be the dean, vice dean, program directors, undergraduate, master’s, or PhD students, or even external partners. There was also an event called a "cocktail party," where we invited 12 corporate partners, and the committee members engaged with them as well.

The first standard they examined was our vision, mission, and strategy, followed by a thorough review of our financial situation. The AACSB accreditation is a student-centered quality assurance system, with the primary focus on developing students' competencies. Naturally, the committee was particularly interested in how we create a supportive environment to help students acquire the skills necessary for their success. Not surprisingly, out of the nine standards, four are directly related to students.

We were delighted to see that our students enthusiastically participated in meetings with the committee. We prepared them in advance by organizing AACSB-themed events where we informally introduced how the system works and the purpose behind various processes. We even placed key vision and mission words on the faculty building’s staircases to help students and staff internalize how the faculty aligns with our strategic goals.

The Impact on Education

Have students already benefited from the recommendations and observations made during the accreditation process?

Yes. One noticeable change is that teaching has become much more interactive. Let me give you an example. We identified the core competencies we aim to develop in our students—communication skills, critical thinking, and teamwork for undergraduates.

Previously, the "Business Communication" course was taught in a lecture hall with 400 first-year students attending a two-hour weekly lecture where the instructor shared their views on business communication. However, competency assessments revealed that students’ communication skills were not strong enough. Learning from the accreditation process, we restructured the course methodology. Now, only the first seven weeks involve lectures. After that, students work in groups of 25, engaging in communication exercises and situational role-playing activities to enhance their skills. Feedback from current master’s students suggests that this new approach has significantly improved their presentation abilities. This type of success is a direct outcome of our revised processes.

Our corporate partners also indicated that students need to be able to work both independently and in teams. However, teamwork is not something that can be learned from a textbook. That’s why in many courses, students are assigned group projects that last the entire semester. This allows them to experience different team roles early on, helping them develop essential collaboration skills for their future careers. At the same time, they also gain deeper self-awareness.

The Accreditation Decision

What was the outcome of the committee’s evaluation?

We had to wait a long time for the site visit, as several institutions worldwide were at the same stage, placing a heavy workload on the committee. Since multiple visits happen simultaneously, final decisions are only made at predetermined periods when institutions are evaluated collectively. Although we had received positive preliminary feedback from the committee, we still had to wait patiently for AACSB’s final, official decision. This waiting period was nerve-wracking for all of us.

In their closing evaluation, the site visit committee highlighted several of our best practices. They found our third-mission activities remarkable, praised our external partnerships and talent management program, and acknowledged our achievements in the National Scientific Students' Associations Conference (TDK) as well as the numerous competitions we organize.

Why Is Accreditation So Important on an International Level?

One of the main reasons we embarked on the accreditation process is that we have been closely monitoring the demographic trends in Hungary for quite some time. We knew that relying solely on Hungarian students would no longer be enough to fill our available spots, so we had to place even greater emphasis on our already well-developing and strengthening internationalization efforts. It is important to recognize that, as a medium-sized Faculty of Business and Economics at a medium-sized university in a medium-sized city, the only way we can stand out with high-quality education and student services is if a globally recognized organization—such as AACSB—certifies it. This is how we can stay competitive.

For us, accreditation essentially means continuous development. We have only received accreditation for six years, which means there is no room for complacency. Our team continues to move forward, constantly seeking new and innovative solutions in education. The AACSB logo carries significant weight in international student recruitment, and we want to use it strategically. It is also true that graduating from an AACSB-accredited university grants a certain level of recognition worldwide. Some universities only accept graduates from other AACSB-accredited institutions for their master's programs. In our international projects, we have specifically sought out AACSB-accredited partners because it serves as a strong passport for international networking.

Is AACSB Accreditation Primarily a Selling Point for International Students, or Does It Add Value for Hungarian Students as Well?

I believe it benefits Hungarian students as well. The quality of the programs we offer has been measured and recognized at an international level. Abroad, AACSB is a highly regarded quality seal. Sooner or later, companies operating in Hungary will also recognize the significance of hiring an AACSB-accredited business professional. I believe Hungarian students also gain a significant advantage by studying at an AACSB-accredited university.

You Mentioned That You’re Not Stopping Here. What’s the Next Goal?

There are other accreditations available for business and management programs, but we have not yet decided which one to pursue next. What we do know is that the next accreditation process will not be for the entire faculty but for a specific program—one of our management courses. This process is expected to be shorter, but given that many universities are competing for business accreditations, the competition is extremely strong on an international level.

I believe that throughout the accreditation process, we have learned a great deal, studied numerous universities, and gathered many best practices. But we cannot stop here! We must continue working and improving because the world is changing at an incredibly fast pace!