As a business school, or as any institution, it is normal to think about what we do, and why we exist. Sometimes we try to write these ideas down so that others also might know. “Others” might be those we employ, those we serve, or maybe just interested parties ranging from government entities to our nearest competitor. Generally, that document evolves into what we call our “mission,” and put simply, the mission of a business school tells everyone what we do, and what we want to achieve.

Standard 1 of AACSB’s Accreditation Standards concentrates on the institution’s mission, and calls for a business school to focus its resources and efforts toward a defined mission as embodied in its mission statement. For schools who are reevaluating their mission statement or that are in the pre-accreditation process AACSB provides A Self Assessment Primer, a valuable document which suggests that a “good” mission should answer key valuable questions. Some of these questions are:

• Does the mission identify why we exist?
• Who do we serve? Who are our stakeholders?
• How do we address those stakeholder needs?
• Does the mission help us in setting priorities if offered potential initiatives?

Though this information is not new to business educators, evaluating these and other questions demonstrates the importance of convening our stakeholders to ask the difficult question of how the institution’s mission translates into actions. Can we see evidence that actions occur in line with this overall guiding document? Does the mission provide for the orderly development of educational goals of programs? Sometimes, more pointedly, a mission sets the scene for students to understand what they can gain from pursuing educational programs at a particular institution. And, suggesting such a link between the mission, actions, and outcomes is precisely what makes business schools accountable.

Some new ideas related to an institution’s mission are emerging from the work of the Blue Ribbon Committee on Accreditation Quality (BRC), which is currently reviewing the accreditation standards. These ideas include a more focused look at a business school’s mission, which is a result of evidence that has come from peer review teams who indicate that many missions are lacking differentiation and do not seem to drive actions or linkages to programs. Therefore, the BRC is considering how business schools should further or enhance the focus of their mission.

In 1991, AACSB introduced mission based-accreditation standards, and since then, the number of accredited members has grown in number, richness, and diversity—allowing for many points of learning. However, the BRC is evaluating if the time has come for AACSB to further enhance the need for mission differentiation by taking a fresh look at standards and processes around this important area. Most likely, this increased focus on mission will inevitably mean a fresh look at review processes for all remaining standards.

Whether or not accreditation standards in this area are amended, the issue of the role of a mission statement in an institution is vital. It is often a school’s defining statement. It is a public statement, and it can be a differentiator. A clearly defined mission tells your stakeholders what you are, and also determines other items such as the framework for your strategic plan, the learning goals for your programs, the measure of indicators of success, your priorities for funding, priorities for hiring, your target initiatives, etc.

Of course accreditation can fit into those plans. Accreditation can assist and play a role in planning, can be a developmental model for change, and can serve as a commitment device to sustain change. Through accreditation, schools also can take advantage of a pre-defined framework which can serve as an important guide to ensuring adherence to mission.