Singaporeans Study: Business (What is Triple Crown?)

[:en]We’re glad to see you again! Let’s learn something new about the field of business, shall we? Read this blog and learn what Triple Crown is and how you can benefit by choosing a business course that has triple accreditations.

1. What is Triple Crown? Is accreditation important to a business degree?

Triple crown or Triple accreditation is one of the most recognized and valuable accreditations. The three accreditations are:

Association of MBAs (AMBA)	For MBA degrees Denoting the highest standard of achievement in postgraduate business education
Association to Advance Collegiate Schools of Business International (AACSB)	USA standard Ensures that business schools provide a curriculum that is relevant to the current trends in the business sector
EFMD Quality Improvement System (EQUIS)	European standard Established by The European Foundation for Management Development Comprehensive institutional accreditation system for business and management schools Ensures rigorous quality control, benchmarking the school against international standards in terms of governance, programmes, students, faculty, research, internationalization, ethics, responsibility and sustainability, as well as engagement with the world of practice.

 
AACSB & EQUIS accreditations are harder to get and therefore any business school that has these accreditations is guaranteed to hold a reputable position.

2. How important or useful are these accreditations in choosing a business degree?

These accreditations ensure that the degrees are of a high standard in terms of educational experience and other key factors such as duration, programme content, location and cost. Only 1% of all business schools in the world have triple accreditation.

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New Zealand has only 8 universities and 4 of them have triple accreditation! They are as follows:

University of Auckland Business School
University of Waikato Faculty of Management, Hamilton
Victoria University of Wellington, Victoria Business School, Wellington
University of Canterbury Business School

3. Aren’t universities in the USA more famous for pursuing business degrees than other countries like Australia and New Zealand?

Universities in Australia like QUT Business School, Monash University & The University of Sydney Business School and those in New Zealand have triple crowns. Their business degrees can open your career doors to a wide range of opportunities as they are well recognized in both the US and European firms.

4. What advice do you have if I am only interested in a particular major in a business degree such as Marketing or Human Resources?

Well, it is great that you have decided on a business major to specialize in. You will be pleased to know that different universities have dedicated research centers for different business majors. For example:
The University of South Australia - Marketing

A global leader in the field of Brand Management research.
Business courses are among the top 1% worldwide.
Students can take up the 3+1 Pathway to Masters package and finish both their undergraduate and postgraduate degrees within four years.
Benefit from the Business Internship Program and experience an integrated learning experience.
Has an in-house Marketing Clinic supervised by marketing experts who offer advice to small and medium-sized businesses.

The University of Western Australia - Human Resources

Accredited by the Australian Human Resources Institute.
This course integrates both theory and practical work.
Offers flexibility - students can manage both work and studies.

5. Is it a must to pursue a master’s degree? When would one require a master’s degree?

No, it’s not a must. However, a master’s degree will help you to develop a deeper understanding of a particular field, and thereby increases your proficiency and gives you the added advantage to build your skillset. Furthermore, it provides you with the essential skills that will increase your chances of landing in a higher position instead of an entry-level position.

6. I’m keen on studying engineering, but my parents want me to study Business. What do I do in this case?

You should start with Engineering as your first degree because you can always go for a Master's in Business as your second degree. It will be quite hard to take up business as your first degree and then pursue engineering as your second degree because engineering degrees are usually accredited by professional bodies as an undergraduate degree. Degrees like MBA and MEngineering Business are more suitable for students like these. There are also some universities that offer business engineering as a double degree program.

7. Do I need to have a business degree to start a business?

Not everyone who runs a business holds a degree in business. Nonetheless, earning a business degree will help you gain a better understanding of the business field. According to Lauren Grech, CEO and co-founder of international event management firm LLG Events, people wishing to pursue a career in the business sector should have sufficient knowledge about the field and know basic concepts of the sector so that they could have better career prospects.

Are you interested in pursuing a career in business? If you are confused about how to get started, get in touch with education counsellors at AECC Global Singapore today. Contact us now >>>

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