Following an intensive accreditation process lasting several years under the leadership of Eva Frommelt, Head of Quality and Accreditation, the Liechtenstein Business School and the Liechtenstein Business Law School have now been awarded the internationally recognised AACSB accreditation. The award recognises the high level of quality of both schools. The Liechtenstein School of Architecture has already been accredited by the renowned RIBA (Royal Institute of British Architects) agency. This means that the quality of all three schools is confirmed by internationally recognised accreditation agencies.
The Association to Advance Collegiate Schools of Business, or AACSB for short, is one of the most important independent accreditation organisations for universities in the field of business studies, based in Tampa, Florida.
The AACSB accreditation promotes and supports business and economics educational institutions in continuously improving quality in all areas - research, teaching, continuing education and transfer. Only a few universities in the region can boast AACSB accreditation: Six educational institutions in Switzerland, three in Austria and thirteen in Germany are currently accredited by AACSB. These include the University of St. Gallen (HSG), the University of Zurich, the Technical University of Munich and the Vienna University of Economics and Business. Worldwide, only six per cent of university business schools meet the AACSB accreditation standards.
Focus on continuous quality improvement
As part of its AACSB accreditation, the University of Liechtenstein benefited greatly from several years of continuous engagement with internationally recognised quality standards. This contributed to the systematic implementation of processes and the reorganisation of both quality management and quality assurance.
"The careful and intensive preparation phase and the entire development process that the University of Liechtenstein has undergone represents perhaps the most lasting value of this accreditation. It has not only moved us forward on the path of quality assurance, but also offers significant added value for our students and researchers," emphasises Lothar Ritter, President of the University Council.
International team of experts confirms quality
A key moment in the accreditation process was the visit by an international expert team consisting of Deans from various universities in the USA, Belgium and Germany. During their visit in summer 2023, they interviewed around 80 representatives from all areas of the university on topics such as mission and strategy, teaching and lecturers, research activities, practical relevance and impact on the economy and society.
Marco Menichetti, Dean of the Liechtenstein Business School, reported on the impressions of the team of experts: "They were particularly impressed by the outstanding position of the University of Liechtenstein within the country and the region. They also praised the close network with companies and state partners in Liechtenstein, the collegial atmosphere and the highly committed academic and administrative staff. The team of experts also emphasised their encounters with committed and enthusiastic students who are proud of the University and who can look forward to a wide range of career opportunities in Liechtenstein companies."
Alexandra Butterstein, Dean of the Liechtenstein Business Law School, adds: "The international panel of experts also provided valuable feedback and pointed out constructive development perspectives for the continuous further development of both schools. The exchange with the team of experts was equally pleasing in that our study programmes are internationally competitive thanks to their high quality standards."
Increasing international visibility
This internationally recognised quality label increases the international visibility of both the Schools and the University as a whole. Rector Christian Frommelt is pleased: "The AACSB accreditation emphasises the appeal of the University of Liechtenstein in teaching and research. The country of Liechtenstein and the region can benefit from this reputation as a business, education and innovation centre."
For our students, the quality label ensures that their studies meet the highest international standards, which contributes to the reputation and recognition of their degrees. For national and international employers, partner universities and research partnerships, AACSB accreditation is a quality label and proof of academic excellence.
Sebastian Stöckl, Academic Director of the Liechtenstein Undergraduate & Graduate School and official representative of the university to the AACSB, emphasised: "This accreditation is not only a sign of our high educational standards, but also proof of our relentless commitment to providing our students with the best possible education. In addition, the accreditation strengthens the global recognition of our students' academic achievements and opens up new opportunities for exchange semesters at renowned, equally accredited institutions worldwide."
Continuous advancement ensures international exchange
The continuous development of the University of Liechtenstein will continue in the future, as it is due for re-accreditation in five years' time.
In addition to this incentive for continuous improvement, AACSB also promotes the exchange between accredited business universities worldwide through its international network, from which both the University of Liechtenstein and its students benefit.
Continuous further development ensures international exchange
The continuous development of the University of Liechtenstein will also be pursued in the future, as it is due for re-accreditation in five years' time. In addition to this incentive for continuous improvement, AACSB also promotes the exchange between accredited business universities worldwide through its international network, from which both the University of Liechtenstein and its students benefit.