European Foundation for Management Development
The European Foundation for Management Development ( EFMD ) is an international organization in the legal form of an association based in Brussels , which deals with the accreditation of business schools and individual management training programs.
Members
The non-profit organization founded in 1972 has over 760 members from the fields of business, education and training, public service and consulting in 81 countries. British members dominate quantitatively. The London School of Economics is a prominent member . The fee for active members is at least 5,000 euros per year.
In Germany, EFMD has around 44 members, including mainly DAX 30 companies, public and private universities, business schools and technical universities. The organization also serves to exchange best practice and benchmarking in the areas of management education and training.
Working method
The EFMD is recognized as a worldwide accreditation body for business schools and their study programs as well as for technically supported forms of learning. With EQUIS ( European Quality Improvement System ) it created a European accreditation standard in 1997, which many business schools use as proof of quality. It corresponds roughly to the American standard of the AACSB . In Germany, the Scientific University for Corporate Management in Koblenz and the University of Mannheim were first accredited according to the EQUIS standard. In October 2015, the ESMT European School of Management and Technology received EQUIS accreditation. Currently (September 2011) 131 schools in 38 countries are accredited. The prerequisite is that three years have already completed the program.
With CLIP ( Corporate Learning Improvement Process ) a procedure has been developed with which in-house corporate universities can have the quality of their work recognized. By January 2015, 17 corporate universities had received this accreditation. The CEL ( Certification of e-Learning ) certifies that companies and educational institutions have a level of their e-learning measures that meets scientifically based quality criteria. With the EPAS seal ( European Program Accreditation System ), business schools have been able to have individual internationally oriented management programs accredited since 2006. In Germany, the MBA program "International Business Management and Leadership" at the Kempten University of Applied Sciences and the Bachelor "International Management" program at the Berlin School of Economics and Law have received this accreditation. Specialized Executive Master’s courses have also been accredited since 2013.