The IACBE promotes and recognizes excellence in business education in institutions of higher education worldwide. However, excellence in business education is multidimensional and may be interpreted in different ways depending on the educational, historical, cultural, legal/regulatory, and organizational environments in which the academic business unit operates. The IACBE recognizes and respects this fact, but however it is interpreted, excellence in business education normally exhibits the following common characteristics:

• The academic business unit acts with integrity and responsibility in its interactions with all of its stakeholders.
• The academic business unit has a clearly-defined mission and broad-based goals that are consistent with those of the institution of which it is a part.
• The academic business unit strives for higher levels of performance consistent with its mission as reflected in the student learning outcomes in its business programs, its operational effectiveness, and the accomplishment of its mission and broad-based goals.
• The academic business unit engages in a strategic planning process that is driven by its mission and broad-based goals, is consistent with the mission of the institution of which it is a part, and incorporates processes for involving external stakeholders from business and industry.
• The academic business unit has developed and implemented an outcomes assessment process that promotes continuous improvement in its business programs, and is linked to the strategic plans of both the academic business unit and the institution of which it is a part.
• The academic business unit develops students, both personally and professionally, into well-educated, ethical, and competent business professionals.
• The academic business unit encourages and fosters innovation and creativity in business education.
• The academic business unit has meaningful and effective linkages between the classroom and practitioners in the business community, thereby contributing to the assurance of currency in and relevance of its business programs.
• The academic business unit encourages external cooperative relationships with other educational units and institutions that are consistent with its mission and broad-based goals and that contribute to the academic quality of its business programs.
• Faculty members in the academic business unit integrate ethical viewpoints and principles in their teaching activities.
  Faculty members in the academic business unit strive to be effective teachers who are current in their professional fields and are active in contributing to their institutions and disciplines.
• Members of the business faculty are positively engaged within their academic business unit and contribute to its mission and broad-based goals through appropriate faculty development and faculty evaluation processes.
• The mix of academic and professional credentials of the business faculty is worthy of the respect of the academic and business communities.
• The resources allocated to the academic business unit are adequate to support its business programs and to accomplish its mission and broad-based goals.
• The curricula in business programs reflect the missions of the academic business unit and the institution of which it is a part, and are consistent with current, acceptable business practices and the expectations of professionals in the academic and business communities.
• The curricula in business programs ensure that students understand and are prepared to deal effectively with critical issues in a changing global business environment.
• The content of business courses, modules, subjects, etc. is delivered in a manner that is appropriate, effective, and stimulates learning.
• The academic business unit is accountable to its stakeholders for the value and quality of the education that it provides.