The Association to Advance Collegiate Schools of Business (AACSB) was founded in 1916 to accredit schools of business worldwide. The first accreditations took place in 1919. The stated mission is to advance quality management education worldwide through accreditation, thought leadership, and value-added services. It is regarded as the benchmark for business school quality among the academic community. In 1991, the AACSB adopted new accreditation standards that were more flexible.
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