The Davis School of Business can soon say that they are in the top 6% of schools worldwide. Since becoming head of the Business Department last fall, Dr. Carlos Baldo has worked to ensure that the school finishes a prestigious accreditation process. The designation is on track to be official by fall 2024.
The Association to Advance Collegiate Schools of Business (AACSB) offers what is widely regarded as the “gold standard” of quality business accreditation. The department hopes that by 2024, they will be able to officially boast an AACSB declaration, and in turn see the benefits of doing so.
Business students who graduate from CMU with this accreditation will have an edge in the job market over others who graduated from non-AACSB accredited schools. CMU would join Fort Lewis College as the only other institution on the Western Slope with this designation.
“We could say that we’re doing things as well as the front range schools, maybe better, but minimum as well as some of them. So it helps us to reach some minimum standards in quality in regards to education that we give” Baldo said.
Not only will students compete for the best jobs, but the Business School and CMU itself should benefit from an increase in business students and faculty applying to the university.
“There is a lot of faculty that we were able to bring here because they see that the school is pursuing the AACSB. In fact, around 50% of our faculty is new from when we first started this process,” Baldo said
A core tenet of AACSB is solving problems in the community. To this end, the Business Department requires substantial work with local business owners and leaders from the students and faculty.
For example, Associate Professor of Economics Dr. Nathan Perry creates a quarterly economic report and newsletter for much of western Colorado. Additionally, students and faculty create internationalization plans for Colorado-based businesses, file taxes for locals who may not be able to afford a typical service and assess and respond to community needs across the Western Slope.
“These are little things that some might not think are so impactful, but in reality, the continuum of things we do for the community adds up to a bigger impact than some might realize. AACSB focuses a lot on connecting with the community. The idea is to develop more relationships with the stakeholders beyond the school boundaries. The days of being in an ivory tower are long gone,” Baldo said.
Although Baldo has overseen this process recently, the accreditation process has actually been ongoing for the last seven years. In November, a peer review team will make a final visit to confirm that CMU is adhering to AACSB standards. If everything checks out, an official designation will be made in early 2024.
“It is the premium standard of business colleges all around the globe. We will be in the first class of university colleges; it will take us to a new level,” Assistant Professor of Hospitality Management Tevfik Demircifti said.
