European Foundation for Management Development

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European Foundation for Management Development
AbbreviationEFMD
Formation1972 [1]
TypeNot-for-profit organization
Purpose Educational accreditation
Headquarters Brussels, Belgium
Region served
Global
MembershipOver 800 in 80 countries
Chief Executive Officer
Eric Cornuel
Website efmdglobal.org

The European Foundation for Management Development (EFMD) is an international not-for-profit association based in Brussels. It is Europe's largest network association in the field of management development with over 990 member organizations from academia, business, public service and consultancy in 95 countries (as of August 2025). EFMD provides a forum for networking in management development. [2] [3]

Contents

EFMD operates the EFMD Quality Improvement System (EQUIS), which is one of the major international systems of quality assessment, improvement, and accreditation of higher education institutions in management and business administration. [4] It is comparable to its American equivalent Association to Advance Collegiate Schools of Business and provides a forum for information, research, networking and debate on innovation and best practice in management development. [5]

The foundation also runs other accreditations and certifications for business schools, including the EFMD Programme Accreditation System (formerly EPAS) for individual programmes, the EFMD Deans Across Frontiers development programme (EDAF), and the Business School Impact System (BSIS). [6] For corporate learning functions, it offers the Corporate Learning Improvement Process (CLIP) accreditation and the Learning Impact for Today and Tomorrow (LIFT) certification. [7]

History

EFMD was established in 1972 as the result of the merger of two earlier initiatives: the European Association of Management Training Centres (EAMTC), founded in 1959, and the International University Contact for Management Education (IUC), created in 1952. [8] From the outset, its aim was to strengthen management education and development in Europe and beyond, and to build bridges between academia and business practice. The first meeting of deans and directors took place in 1973, and by then EFMD had already reached 193 members. [9] In 1980, EFMD launched its first international project in China (CEMI), which led to the creation of the China Europe International Business School (CEIBS) in 1994. [10]

The organization expanded in the following decades. It introduced the Case Writing Awards in 1989 and the EFMD Quality Improvement System (EQUIS) in 1997. [11] [12] The Corporate Learning Improvement Process (CLIP) followed in 2003. [13] [14] EPAS, launched in 2005, evolved into EFMD Accredited in 2020. [15]

In the 2010s, EFMD created the EFMD Deans Across Frontiers (EDAF) programme (2011) [16] and established the EFMD Global Network (2012), with offices in Hong Kong, Miami, Geneva, and Prague. New regional projects were developed in Latin America and Africa. [17] The Business School Impact System (BSIS) was launched in 2014. [18] Online Course Certification System (EOCCS) followed in 2016, [19] while the Executive Academy was created in 2017. [20] EFMD celebrated its 50th anniversary in 2022. [21]

Activities

EFMD’s activities connect academia, business, and policy to improve management education globally.

Membership

Membership began with around 193 European member institutions in 1973. [9] By 2025, its membership had grown to approximately 990 organisations across 95 countries. Membership categories are tailored to academic institutions, corporations, and other organisations, and provide access to accreditation, events, research, and knowledge sharing. [22]

Governance

EFMD is governed by a Board of Directors, elected from its membership, which defines the organization's general policy and strategy. It includes a Chair, Vice-Chairs, and members from academia and business sectors across the globe.

Day-to-day operations are led by the President of EFMD Global, Eric Cornuel, who has held the position since 2000. [23]

Accreditations and certifications

EFMD provides accreditation and certification frameworks for both business schools and corporate learning organisations. Its main systems include EQUIS (institutional accreditation for business schools). [24] The evaluation considers governance, faculty qualifications, research, degree portfolio, student services, internationalisation, ethics, and connections with the corporate world. [25] Accreditation is normally granted for three or five years, depending on the strength of the school’s performance. EQUIS is one of the major global benchmarks for business school quality. [26] [27] EFMD Programme Accreditation, a programme-level accreditation, and BSIS (Business School Impact System), which assesses the societal and economic contributions of institutions. It also offers EDAF (EFMD Deans Across Frontiers), which provides developmental mentoring for schools, as well as CLIP (Corporate Learning Improvement Process) and LIFT (Learning Impact for Today and Tomorrow), which evaluate corporate learning functions. [28]

Events

EFMD organises a range of global conferences and seminars, including annual, deans, and other thematic gatherings, to convene leaders in management education and corporate learning. [29] [30]

Professional development

Since 2002, EFMD has organised professional development programmes for academic leaders, administrators, and career service staff. These programmes are structured around leadership skills, institutional management, and knowledge exchange among participants. [31]

International projects

EFMD’s International Projects Department manages externally funded projects, many supported by the European Union. Since its creation, it has coordinated over 70 projects in more than 60 countries. These initiatives focus on topics such as digitalisation of higher education, internationalisation strategies, inclusivity, gender equality, and entrepreneurship. [32] [33]

Publications

EFMD publishes Global Focus, a magazine covering trends, research, and commentary in management education and corporate learning. [34] [35] It also maintains the EFMD Blog, which reports on activities, case studies, and updates from the network. [36] In addition, EFMD collaborates with knowledge producers such as CarringtonCrisp, GMAC, and other research organisations to produce reports on developments and trends in management education. [37] [38] [39]

References

  1. ↑ "EFMD EUROPEAN FOUNDATION FOR MANAGEMENT DEVELOPMENT". 17 January 2013. Archived from the original on 4 June 2014.{{cite journal}}: Cite journal requires |journal= (help)
  2. ↑ Publications, Europa (24 July 2025). The Europa International Foundation Directory 2025. Taylor & Francis. ISBN   978-1-040-39192-1.
  3. ↑ "EFMD Annual Report 2024" (PDF). EFMD Global. 2024. Retrieved 23 September 2025.
  4. ↑ Sheppard, Emma (28 January 2020). "'You're buying into an incredibly smart group of people': the enduring pull of the MBA". The Guardian. ISSN   0261-3077 . Retrieved 23 September 2025.
  5. ↑ Beckett, Francis (17 September 2003). "Take over bid". The Guardian. ISSN   0261-3077 . Retrieved 23 September 2025.
  6. ↑ International, AACSB (9 February 2011). Globalization of Management Education: Changing International Structures, Adaptive Strategies, and the Impact on Institutions. Emerald Group Publishing. ISBN   978-0-85724-941-8.
  7. ↑ Plompen, M. (23 June 2005). Innovative Corporate Learning: Excellent Management Development Practice in Europe. Springer. ISBN   978-0-230-28879-9.
  8. ↑ Davies, Julie; Thomas, Howard; Cornuel, Eric; Cremer, Rolf D. (2023). "The Evolution of Management Education (1972–2022): EFMD's Journey, Changes in Business Models and Deanship Roles". Leading a Business School (1st ed.). Routledge. doi:10.4324/9781003178125-1. ISBN   9781003178125 . Retrieved 23 September 2025.
  9. 1 2 "Learn more about EFMD Global". 31 May 2018. Retrieved 23 September 2025.
  10. ↑ "EFMD Annual Report 2012" (PDF). EFMD Global. 2012. Retrieved 23 September 2025.
  11. ↑ Marcussen, M.; Torfing, J. (14 November 2006). Democratic Network Governance in Europe. Springer. ISBN   978-0-230-59628-3.
  12. ↑ Urgel, Julio (9 January 2007). Thomas, Howard (ed.). "EQUIS accreditation: value and benefits for international business schools". Journal of Management Development. 26 (1): 73–83. doi:10.1108/02621710710721698. ISSN   0262-1711.
  13. ↑ Plompen, M. (23 June 2005). Innovative Corporate Learning: Excellent Management Development Practice in Europe. Springer. ISBN   978-0-230-28879-9.
  14. ↑ "EFMD Corporate Dictionary" (PDF). EFMD Global. 13 December 2018. Retrieved 23 September 2025.
  15. ↑ Sporn, Barbara; Galliers, Robert; Tøndel, Jens Petter (15 February 2021). "EFMD Programme Accreditation: Past, present and future". globalfocusmagazine.com. Retrieved 23 September 2025.
  16. ↑ "GF Vol 6 Issue 01". Issuu. 31 January 2012. Retrieved 23 September 2025.
  17. ↑ "Looking Back, Thinking Forward: 15 Years of Global Focus" (PDF). EFMD Global. 2020. Retrieved 23 September 2025.
  18. ↑ "EFMD Global Report 2017" (PDF). EFMD Global. 2017. Retrieved 23 September 2025.
  19. ↑ "EFMD Annual Report 2017" (PDF). EFMD Global. 2017. Retrieved 23 September 2025.
  20. ↑ "EFMD Corporate Dictionary" (PDF). EFMD Global. 13 December 2018. Retrieved 23 September 2025.
  21. ↑ "Client Challenge". www.ft.com. Retrieved 23 September 2025.
  22. ↑ "EFMD Annual General Meeting 2025" (PDF). EFMD Global. 2025. Retrieved 23 September 2025.
  23. ↑ "Governance - EFMD Board - EFMD Global". 12 February 2018. Retrieved 23 September 2025.
  24. ↑ Beckett, Francis (10 December 2003). "Helping them to help themselves". The Guardian. ISSN   0261-3077 . Retrieved 23 September 2025.
  25. ↑ Gitsham, Matthew (22 June 2012). "Rio+20: reasons to be cheerful". The Guardian. ISSN   0261-3077 . Retrieved 23 September 2025.
  26. ↑ Street Journal, Rhea WesselSpecial to The Wall (28 April 2004). "Lack of Funding Inhibits Growth Of Regional M.B.A. Programs - WSJ". Wall Street Journal. ISSN   0099-9660 . Retrieved 23 September 2025.
  27. ↑ Sheppard, Emma (28 January 2020). "'You're buying into an incredibly smart group of people': the enduring pull of the MBA". The Guardian. ISSN   0261-3077 . Retrieved 23 September 2025.
  28. ↑ Thomas, B. L.; Wilson, Alexander; Thomas, Howard (21 January 2013). Promises Fulfilled and Unfulfilled in Management Education. Emerald Group Publishing. ISBN   978-1-78190-714-6.
  29. ↑ "Standing alone in business". The Guardian. 14 July 2004. ISSN   0261-3077 . Retrieved 23 September 2025.
  30. ↑ "El Instituto Internacional San Telmo acoge la celebración de la '2012 EFMD Executive Education Conference'". La Vanguardia (in Spanish). 2 October 2012. Retrieved 23 September 2025.
  31. ↑ Cornuel, Eric; Thomas, Howard; Wood, Matthew (1 March 2022). The Value & Purpose of Management Education: Looking Back and Thinking Forward in Global Focus. Routledge. ISBN   978-1-000-58604-6.
  32. ↑ "EFMD Global". IBE. Retrieved 23 September 2025.
  33. ↑ admin (15 April 2021). "Interview with Eric Cornuel, President, EFMD Global". Global Consulting 2000. Retrieved 23 September 2025.
  34. ↑ BAM. "Looking Back,Thinking Forward: Celebrating 15 years of Global Focus - EFMD's Global Focus Magazine". www.bam.ac.uk. Retrieved 23 September 2025.
  35. ↑ Pouza, Laura (24 March 2023). "Global Focus Magazine - The EFMD Business Magazine". globalfocusmagazine.com. Retrieved 23 September 2025.
  36. ↑ "EFMD Global Blog". blog.efmdglobal.org. Retrieved 23 September 2025.
  37. ↑ Pouza, Laura (24 March 2023). "Global Focus Magazine - The EFMD Business Magazine". globalfocusmagazine.com. Retrieved 23 September 2025.
  38. ↑ Stacey, Viggo (2 May 2024). ""Changing MBA demand" requires market to adapt". The PIE News. Retrieved 23 September 2025.
  39. ↑ Ethier, Marc (1 July 2025). "Employers Are Still Eager To Hire MBAs, GMAC Finds — Especially Those With AI Skills". Poets&Quants. Retrieved 23 September 2025.
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