A year full of milestones: the VŠE celebrates historic achievements in 2024

As we look back on the year 2024, we have many reasons to be happy and proud. The Prague University of Economics and Business has experienced one of the most remarkable years in its history. We have gained prestigious international accreditations, consolidated our position among Europe’s top schools and opened up new opportunities for our students in their future careers. If we are to highlight a specific achievement, the greatest benefit for the entire academic community is primarily the acquisition of the prestigious AACSB accreditation, which made us the first Czech university to be ranked among the world’s top universities in business, management and economics education.

Historic milestone: the AACSB accreditation

AACSB (Association to Advance Collegiate Schools of Business) represents the highest benchmark in business, management and economics education. Founded in 1916, it is the world’s largest alliance in business and management education, and its accreditation is considered the “gold standard” for quality business education.

In good company

• Worldwide, just under 6% of universities with management programmes have achieved this accreditation.
• Only 1,013 educational institutions worldwide can boast this accolade
• VŠE is the first Czech university ever to receive this accreditation

Benefits for students and graduates

• Significantly improved opportunities for employment in the international labour market
• Access to a network of elite global employers who prefer graduates of AACSB schools
• Affirmation of educational quality on a global level As Stephanie M. Bryant, AACSB Executive Vice President, points out, “AACSB accreditation is awarded to higher education institutions that have demonstrated exceptional quality in all areas of their operations, particularly in the areas of pedagogy, scholarship, curriculum development, and student learning.”

Triple Crown for the Faculty of Business Administration

By obtaining AACSB accreditation, the Faculty of Business Administration of the VŠE has achieved the prestigious “Triple Crown” accreditation (AACSB, AMBA and EQUIS). This exceptional achievement places it among 129 business schools worldwide that boast all three major international accreditations.

AMBA (Association of MBAs) is a prestigious international accreditation institution based in the UK that specialises in the assessment and accreditation of Master of Business Administration (MBA) and related management programmes worldwide. Achieving AMBA accreditation means that a programme meets strict quality criteria in terms of content, faculty, students, processes and outcomes.

EQUIS (European Quality Improvement System) is an international accreditation system for universities and faculties focused on management and business. It is run by EFMD (European Foundation for Management Development), a prestigious international association of business schools and companies based in Brussels.

EQUIS assesses the quality of the institution as a whole, not just individual study programmes.

Receiving EQUIS accreditation is a sign of the global quality and prestige of the institution. Schools that have it are among the world’s best business schools. Accreditation is usually granted for a limited period of time and must be renewed regularly, ensuring the school’s continued quality and development.

Other major achievements in 2024

Best in Central and Eastern Europe

VŠE has once again maintained its position as the best business school in Central and Eastern Europe in the prestigious Eduniversal Best Business School Ranking 2024. In the competition of schools from 21 countries in the region, VŠE retained the first place.

Rise in the Financial Times ranking

In the Financial Times’ European Business Schools 2024 ranking, VŠE is ranked 49th, an improvement of 3 places from the previous year and 13 places from 2022. A significant contributor to this is the CEMS Master in International Management programme, which is ranked 16th among the best Master’s programmes of its kind in the world.

International cooperation and the social role

The year 2024 was also exceptional in terms of important visits and social events. A highlight was undoubtedly the visit of the President of the European Parliament Roberta Metsola in February, who led an inspiring discussion with the students of the VŠE on the topic “Deciding together: what kind of Europe do we want?”. This exceptional meeting underlined the importance of involving the young generation in deciding the future of Europe.

During the year, VŠE was also actively involved in the Universities for Enlightenment (U4E) initiative, bringing together leading universities from nine European countries. Our university has established itself as an important venue for society-wide debate, as evidenced by two important debates broadcast live from our campus: the Focus of Václav Moravec on the adoption of the euro, where the Vice-Rector of the VŠE Pavel Hnát took part as one of the main debaters together with former finance ministers, and the pre-election Superdebate of the leaders of the candidates for the European Parliament, which was broadcast live from our Academic Club by Czech Radio Radiožurnál. These prestigious broadcasts confirm the position of the VŠE as a key venue for the discussion of major social and economic issues.

Sustainability as a priority

The year 2024 was also a turning point for sustainability at the VŠE. A significant step was the signing in September of a memorandum of cooperation with the Business Leaders Forum (BLF), the leading national platform for responsible and sustainable business leaders. This strategic partnership opens up new opportunities for our students, including access to the prestigious ESG Leadership Conference, free invitations to BLF events and expert ESG support. The collaboration also includes the creation of a Lean In Talent development programme to support talented female ESL students.

The Faculty of Business Administration introduced the prestigious Master in Sustainability Management programme, which prepares future managers for the challenges of ESG and sustainable development.

Another significant achievement of the entire VŠE is its involvement in the NPO Green Deal project through the CZK 42 million Sustainable Education and Environmental Development (SEED) initiative. This project will enable the creation of new degree programmes focusing on green transformation and the revision of existing courses. The Institute of Sustainable Finance in the Faculty of Finance and Accounting has also expanded the range of specialised courses in ESG for students and professionals.

Modernisation for the future.

The year 2024 also brought significant changes to the premises of the VŠE. In September, we opened the unique Quattro Modulare modular classroom in the Italian Building, a CZK 13 million investment. This state-of-the-art classroom with its variable layout and cutting-edge pro-cognitive lighting sets a new standard for interactive learning, professional programmes and specialised courses.

In early 2024, we also opened the new Idea Fair coworking space in the Old Building, which has quickly become a popular place for studying, networking and teamwork. This innovative space is one of the first coworking spaces of its kind at Czech universities. In less than a year of its existence, Idea Fair has become a popular meeting and collaboration place for our students.

A glimpse into the future

Rector of VŠE doc. Petr Dvořák sums up the importance of these achievements: “We are proud to be the first university in the Czech Republic to receive the prestigious international accreditation of the AACSB. Our efforts to continuously improve quality do not end with the accreditation. We see this prestigious accreditation as a commitment and motivation for further development of the VŠE. We believe that in the spirit of our motto we are moving in the right direction.”

These achievements, and in particular receiving AACSB accreditation, confirm that VŠE is building an increasingly strong position among the leading European educational institutions and providing its students with a truly world-class education.

The modernisation of the premises, together with prestigious accreditations and international achievements, clearly show that the VŠE is actively responding to the changing needs of 21st century education. We are creating an environment that supports innovative approaches to teaching and learning, while maintaining the highest international standards of educational quality.

It is with joy and anticipation that we enter 2025 – having achieved AACSB accreditation, modern facilities and a strong international position, we are well placed to continue to push the boundaries of quality education and prepare the next generation for the challenges of the future.