In the morning of October 18th, 2012 (Beijing time), the results of the “2012 Best Business Schools in the World” were announced in Lima, Peru. According to the rankings, Fudan University School of Management stood out to win the honor of No.1 Business School in the Far East. The rankings were decided based on the votes by deans from 1,000 business schools in over 150 countries. Previously in both 2010 and 2011, the School was the only business school in mainland China to rank among Top 3 Business Schools in the Far East. This year, the School advanced to No.1 status, followed by Business School of The Hong Kong University of Science and Technology and Business School of National University of Singapore.
The Rankings of Best Business Schools in the World were initiated by Eduniversal with the goal of providing information of the best business schools for every interested student in the world. The Rankings evaluate not only the overall quality and competence of a business school but also its internationalization level, particularly in terms of international recognition and influence. Based on the voting results, the participating business schools are divided into different star levels. In addition, top-3 schools are selected in each of the nine major zones in the world: Africa, North America, Latin America, Central Asia, Eurasia and the Middle East, Eastern Europe, Western Europe, the Far East, and Oceania.
The Rankings are region-wise rather than cross-regional; therefore, the ranking results can reflect more correctly and objectively the development levels of the business schools in different regions of the world. The Top 3 Business Schools in Western Europe in 2012 are Copenhagen Business School, INSEAD, and London Business School. The Top 3 in North America in 2012 are McGill University-Desautels Faculty of Management, Harvard Business School, and Yale School of Management.
“The honor of being elected by the deans of 1,000 business schools worldwide as No.1 Business School in the Far East indicates that our School has a relatively high international presence, reputation and influence. It is also proof that we have won widespread respect from the other business schools globally. Participation in the Rankings is also an indication of School’s confidence. We have the confidence and competence to pass the evaluations and scrutiny of our peers around the world,” indicated School Dean Xiongwen LU.
The Rankings by Eduniversal are objective indicators of the comprehensive quality and competence of the schools. Since its reestablishment, the School has developed exponentially over the past three decades. In particular, over the past five or six years, it has experienced a leapfrog development in its teaching and academic research levels. In 2010, the School was officially accredited by AACSB and EQUIS, becoming the only business school in the world to receive both international accreditations within just 2 years.
Such outstanding achievements are the sweet fruits of its long-term persistence in the internationalization direction. The School has held many international partnership programs with several prominent business schools in other countries and regions, such as the S3 Asia MBA Program in cooperation with National University of Singapore and Korean University in South Korea; the Finance Master’s Degree program with UCLA and Princeton University in the US; the Double Master’s Degree in International Management Program with Bocconi University and Luiss Guido Carli in Italy; and the Fudan-NTU EMBA with Taiwan University. Moreover, the School sends a lot of students abroad for exchange programs each year. It has been proactive in expanding its international cooperation and exchange by building a wide variety of exchange and cooperation ties with over 60 prominent universities and research institutes in over 20 countries and regions, such as the US, the UK, France, Germany, Italy, Norway, Singapore, South Korea, Taiwan, and Hong Kong.
In addition, the School has been keen in joining many high-level international partnership organizations in order to have access to more global resources and strengthen its connections with the other outstanding business schools around the world. For example, in 2007, it officially became a member of the Partnership in International Management (PIM). In 2009, it was officially admitted to the Graduate Management Admission Council (GMAC). In 2011, the Council on Business Society: A Global Alliance of Schools of Management was established with our School as one of its five founding business schools. In 2012, Dean LU was elected a new member of the GMAC’s Board of Directors, making him the first dean of a business school in mainland China to be on the GMAC’s board.
Because of its continuously improved competence and internationalization level, the School has been not only winning honors for China in the international academic arena but also showcasing to the world China’s progress in business education. Four days before the announcement of Eduniversal’s 2012 Rankings of Best Business Schools in the World, the School was also highly recognized in Finical Times’ 2012 EMBA/MBA Rankings. The Fudan-Washington University EMBA Program was ranked the 9th place in the world this year. Since its first entry in the FT’s Rankings, the Program has been ranked among Top 20 in the world. Also, the all-Chinese Fudan EMBA Program entered the Rankings for the first time this year and was ranked the 35th place in the world and the 1st among all the Chinese-speaking EMBA programs worldwide. Last but not least, the Fudan-HKU IMBA Program also entered the Rankings for the first time this year and was ranked the 54th place globally and the 6th place among all the part-time MBA programs in the world.
Established in 1994 in France, Eduniversal is a highly influential consultation and rating agency in the field of higher education of the world. Since 2007, it holds an annual conference in which the results of the worldwide business school rankings are announced.