Organization:European Foundation for Management Development

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European Foundation for Management Development
AbbreviationEFMD
Formation1972[1]
TypeNot-for-profit organization
PurposeEducational accreditation
HeadquartersBrussels, Belgium
Region served
Global
Membership
Over 90 in 95 countries
Chief Executive Officer
Eric Cornuel
Websiteefmdglobal.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]

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. http://www.asfor.it/aree-attivita/asfor-informa/item/247-efmd-european-foundation-for-management-development. 
  2. ↑ Publications, Europa (2025-07-24) (in en). The Europa International Foundation Directory 2025. Taylor & Francis. ISBN 978-1-040-39192-1. https://books.google.com/books?id=XqdxEQAAQBAJ&dq=%22EFMD%22+international&pg=PT121. 
  3. ↑ "EFMD Annual Report 2024". EFMD Global. 2024. https://www.efmdglobal.org/wp-content/uploads/EFMD_AR-Report-2024-Web.pdf. Retrieved 23 September 2025. 
  4. ↑ Sheppard, Emma (2020-01-28). "'You're buying into an incredibly smart group of people': the enduring pull of the MBA" (in en-GB). The Guardian. ISSN 0261-3077. https://www.theguardian.com/education/2020/jan/28/youre-buying-into-an-incredibly-smart-group-of-people-the-enduring-pull-of-the-mba. 
  5. ↑ Beckett, Francis (2003-09-17). "Take over bid" (in en-GB). The Guardian. ISSN 0261-3077. https://www.theguardian.com/education/2003/sep/17/mbas.highereducation. 
  6. ↑ International, AACSB (2011-02-09) (in en). Globalization of Management Education: Changing International Structures, Adaptive Strategies, and the Impact on Institutions. Emerald Group Publishing. ISBN 978-0-85724-941-8. https://books.google.com/books?id=_xKGpYzQEJMC&dq=%22EFMD%22+%22EFMD+Programme+Accreditation+System%22&pg=PA64. 
  7. ↑ Plompen, M. (2005-06-23) (in en). Innovative Corporate Learning: Excellent Management Development Practice in Europe. Springer. ISBN 978-0-230-28879-9. https://books.google.com/books?id=1uWGDAAAQBAJ&dq=%22EFMD%22+%22Corporate+Learning+Improvement+Process%22&pg=PA213. 
  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. https://www.taylorfrancis.com/chapters/oa-mono/10.4324/9781003178125-1/evolution-management-education-1972%E2%80%932022-julie-davies-howard-thomas-eric-cornuel-rolf-cremer. Retrieved 23 September 2025. 
  9. ↑ 9.0 9.1 "Learn more about EFMD Global" (in en-GB). 2018-05-31. https://www.efmdglobal.org/about-efmd-global/. 
  10. ↑ "EFMD Annual Report 2012". EFMD Global. 2012. https://efmdglobal.org/wp-content/uploads/efmd_annualreport_2012.pdf. Retrieved 23 September 2025. 
  11. ↑ Marcussen, M.; Torfing, J. (2006-11-14) (in en). Democratic Network Governance in Europe. Springer. ISBN 978-0-230-59628-3. https://books.google.com/books?id=K8IWDAAAQBAJ&dq=%22EFMD%22+%22EQUIS%22&pg=PA206. 
  12. ↑ Urgel, Julio (2007-01-09). Thomas, Howard. ed. "EQUIS accreditation: value and benefits for international business schools" (in en). Journal of Management Development 26 (1): 73–83. doi:10.1108/02621710710721698. ISSN 0262-1711. http://www.emerald.com/jmd/article/26/1/73-83/243616. 
  13. ↑ Plompen, M. (2005-06-23) (in en). Innovative Corporate Learning: Excellent Management Development Practice in Europe. Springer. ISBN 978-0-230-28879-9. https://books.google.com/books?id=1uWGDAAAQBAJ&dq=%22EFMD%22+%222003%22+%22Corporate+Learning+Improvement+Process%22&pg=PP1. 
  14. ↑ "EFMD Corporate Dictionary". EFMD Global. 2018-12-13. https://efmdglobal.org/wp-content/uploads/Corporate_Dictionary_EN_13.12.18_final.pdf. Retrieved 23 September 2025. 
  15. ↑ Sporn, Barbara; Galliers, Robert; Tøndel, Jens Petter (2021-02-15). "EFMD Programme Accreditation: Past, present and future" (in en-GB). https://globalfocusmagazine.com/efmd-programme-accreditation-past-present-and-future/. 
  16. ↑ "GF Vol 6 Issue 01" (in en). 2012-01-31. https://issuu.com/efmd/docs/global_focus_vol_06_issue_01. 
  17. ↑ "Looking Back, Thinking Forward: 15 Years of Global Focus". EFMD Global. 2020. https://www.globalfocusmagazine.com/wp-content/uploads/2020/10/EFMD_GF15_INTERNAL_Online.pdf. Retrieved 23 September 2025. 
  18. ↑ "EFMD Global Report 2017". EFMD Global. 2017. https://efmdglobal.org/wp-content/uploads/EFMD_Global_Report_2017.pdf. Retrieved 23 September 2025. 
  19. ↑ "EFMD Annual Report 2017". EFMD Global. 2017. https://efmdglobal.org/wp-content/uploads/efmd_annualreport_2017.pdf. Retrieved 23 September 2025. 
  20. ↑ "EFMD Corporate Dictionary". EFMD Global. 2018-12-13. https://efmdglobal.org/wp-content/uploads/Corporate_Dictionary_EN_13.12.18_final.pdf. Retrieved 23 September 2025. 
  21. ↑ "Client Challenge". https://www.ft.com/content/f9271188-dd38-4035-8da2-8bbce77f5234. 
  22. ↑ "EFMD Annual General Meeting 2025". EFMD Global. 2025. https://www.efmdglobal.org/wp-content/uploads/2025-EFMD_AGM.pdf. Retrieved 23 September 2025. 
  23. ↑ "Governance - EFMD Board - EFMD Global" (in en-GB). 2018-02-12. https://www.efmdglobal.org/about-efmd-global/governance/. 
  24. ↑ Beckett, Francis (2003-12-10). "Helping them to help themselves" (in en-GB). The Guardian. ISSN 0261-3077. https://www.theguardian.com/education/2003/dec/10/mbas.highereducation. 
  25. ↑ Gitsham, Matthew (2012-06-22). "Rio+20: reasons to be cheerful" (in en-GB). The Guardian. ISSN 0261-3077. https://www.theguardian.com/sustainable-business/rio-20-reasons-cheerful-business-leaders. 
  26. ↑ Street Journal, Rhea WesselSpecial to The Wall (2004-04-28). "Lack of Funding Inhibits Growth Of Regional M.B.A. Programs - WSJ" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/SB108309497207694956. 
  27. ↑ Sheppard, Emma (2020-01-28). "'You're buying into an incredibly smart group of people': the enduring pull of the MBA" (in en-GB). The Guardian. ISSN 0261-3077. https://www.theguardian.com/education/2020/jan/28/youre-buying-into-an-incredibly-smart-group-of-people-the-enduring-pull-of-the-mba. 
  28. ↑ Thomas, B. L.; Wilson, Alexander; Thomas, Howard (2013-01-21) (in en). Promises Fulfilled and Unfulfilled in Management Education. Emerald Group Publishing. ISBN 978-1-78190-714-6. https://books.google.com/books?id=w7jP_NGHsykC&dq=%22EFMD%22+%22Deans+Across+Frontiers%22&pg=PA23. 
  29. ↑ "Standing alone in business" (in en-GB). The Guardian. 2004-07-14. ISSN 0261-3077. https://www.theguardian.com/education/2004/jul/15/mbas.highereducation. 
  30. ↑ "El Instituto Internacional San Telmo acoge la celebración de la '2012 EFMD Executive Education Conference'" (in es). 2012-10-02. https://www.lavanguardia.com/20121002/54351513475/el-instituto-internacional-san-telmo-acoge-la-celebracion-de-la-2012-efmd-executive-education.html. 
  31. ↑ Cornuel, Eric; Thomas, Howard; Wood, Matthew (2022-03-01) (in en). The Value & Purpose of Management Education: Looking Back and Thinking Forward in Global Focus. Routledge. ISBN 978-1-000-58604-6. https://books.google.com/books?id=LMRfEAAAQBAJ&dq=%22EFMD%22+%22professional+development+programmes%22&pg=PA186. 
  32. ↑ "EFMD Global" (in en-US). https://ibe-reglomi.eu/about-us/partners/efmd-global/. 
  33. ↑ admin (2021-04-15). "Interview with Eric Cornuel, President, EFMD Global" (in en-US). https://globalconsulting2000.com/interview-with-eric-cornuel-president-efmd-global/. 
  34. ↑ BAM. "Looking Back,Thinking Forward: Celebrating 15 years of Global Focus - EFMD's Global Focus Magazine" (in en). https://www.bam.ac.uk/resource/looking-back-thinking-forward-celebrating-15-years-of-global-focus-efmd-s-global-focus-magazine.html. 
  35. ↑ Pouza, Laura (2023-03-24). "Global Focus Magazine - The EFMD Business Magazine" (in en-GB). https://globalfocusmagazine.com/. 
  36. ↑ "EFMD Global Blog" (in en-GB). https://blog.efmdglobal.org/page/27/. 
  37. ↑ Pouza, Laura (2023-03-24). "Global Focus Magazine - The EFMD Business Magazine" (in en-GB). https://globalfocusmagazine.com/. 
  38. ↑ Stacey, Viggo (2024-05-02). ""Changing MBA demand" requires market to adapt" (in en-GB). https://thepienews.com/changing-mba-demand-requires-educators-to-adapt/. 
  39. ↑ Ethier, Marc (2025-07-01). "Employers Are Still Eager To Hire MBAs, GMAC Finds — Especially Those With AI Skills" (in en-US). https://poetsandquants.com/2025/07/01/employers-are-still-eager-to-hire-mbas-gmac-finds-especially-those-with-ai-skills/?pq-category=business-school-news&pq-category-2=mba-jobs. 



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