Chief executive officer of the European Foundation for Management Development speaks about the importance of MBA in international business.


EFMD – the European Foundation for Management Development based in Brussels, Belgium is an organization that is engaged, among other activities, in the development of schemes and criteria for prestigious European accreditation systems such as EQUIS* and EPAS**. Gaining these accreditations is a strategic priority of IAB for 2014-2016.

During his visit Eric Cornuel gave a lecture for IAB students on “Changes and Challenges in Business and Society”, and the latter had an opportunity to ask questions on international management, entrepreneurship and the role of business in society.

During a round-table discussion on “Management education in a changing world” held on the same day IAB professors and employees shared their opinions on topical issues, where greatest interest was drawn to interaction of business and higher education institutions and the role of education, knowledge and innovation in the changing world.

Being a member of the European Foundation for Management Development since 1989 the International Academy of Business is currently implementing a number of initiatives in the sphere of accreditation and internationalization.


Dr Cornuel started his career as entrepreneur and being still a student established a hydro power plant in France. Later in life he held the leading position in the HEC Paris Institute. In 1997-2000 he was a dean in KIMEP and was given a title of an honored professor for its achievements.

Eric Cornuel is a member of the Executive Board of EIASM (European Institute for Advanced Studies in Management), EABIS (European Academy of Business in Society), ISBM (International School on Business Management), CEIBS (China Europe International Business School), and GFME (Global Foundation for Management Education).

*EQUIS (European Quality Improvement System) — is a school accreditation system. It specializes in higher education institutions of management and business administration, run by the European Foundation for Management Development (EFMD). EQUIS is often considered to be a European version of American AACSB or an analogue of prestigious AMBA accreditation.

**EPAS – is and international accreditation program run by EFMD. It is designed to evaluate the quality and grant accreditation to business and/or management programs with international status.