Blurred lines between knowledge-based and wisdom-based learning are vanishing, as testified to and confirmed by the post-pandemic mode of surviving.
Business studies, among other disciplinary fields, are undergoing a revolution to keep abreast of challenges, crises, and the disruption of business operational processes, as well as advancing growth amid a global economic recovery.
Chulalongkorn Business School (CBS), one of Thailand's leading business educational institutes, is the sole faculty in Thailand offering undergraduate, post-graduate and Phd programmes accredited by the Association to Advance Collegiate Schools of Business (AACSB), a world-acclaimed institution granting evaluation of educational standards of faculties of business administration around the world.
The AACSB Asia Pacific Annual Conference was recently hosted for the first time in Thailand in collaboration with Chulalongkorn Business School to declare its commitment to enriching educational standards and inspire new academic alliances to increase regional education competency and scale up to becoming one of the world's top universities.
AACSB aims to enhance global business educational quality by encouraging universities around the world to build growth alongside quality development.
Universities accredited by AACSB bear widely respected internationally approved certification. Today's business-school trends are moving towards Asia. The largest markets include China and India while Singapore, Hong Kong, Korea and Japan make up the tier of the second most popular markets.
Thailand is among the tier of third most popular markets. Here the accreditation can be a catalyst for universities to apply which will drive the country to achieve its economic and social development goals.
"In co-hosting the event under the theme 'Business Schools Fight and Lay the Groundwork to Solve Devilish Problems: Framing and Measuring Impact', CBS is honoured as the world centre to build networks and pave the way for universities in Thailand to shine on the global stage," said Dr Wilert Puriwat, Dean of Chulalongkorn Business School, Chulalongkorn University.
"Provoked by misleading business conduct, universities in Thailand are urged to equip their students not only with knowledge but also wisdom-based learning, thereby delivering well-groomed, well-rounded graduates," he said.
While principal-based learning remains the core value of education, distinguishing rights and wrongs, wisdom-based teaching is the key driver in the transition to a fully digitally-driven world in which business curricula no longer adhere solely to cultivating analytical and systematic skills but also experiences, intelligence and street smarts so that learners gain maximum capability and opportunities to grow.
"As the pioneering institution in Thailand accredited by AACSB, CBS will share its experiences in attaining this prestigious credential with fellow universities," Dr Wilert said.
"With a dedication to improving the educational system, Thailand will gain new knowledge as well as management guidelines in line with the social context, economy and changing trends which it can apply to curriculum reformation that will drive it to the forefront of global standard education management," he added.
AACSB accreditation is an extensive peer-review process based on internationally accepted practices in business schools. The accreditation process promotes continuous improvement and effective business education services. The process involves careful reviews of work processes and documents, augmented with interviews, field visits and surveys of students, staff and board members, all conducted by the AACSB accreditation review team.
During the accreditation process, artefacts collected by the AACSB review team are measured against AACSB practice standards.
The evaluation encompasses strategic management and innovation; interactions among students, faculty and staff; research, learning and teaching; and academic and professional engagement.
Overall, the AACSB peer-review team found CBS an effective business school delivering high-quality education and services to its students.
Quality control has always been key to CBS's educational model; one that ensures students receive the best quality education. CBS decided to adopt and apply the prestigious AACSB standards of excellence to its management and operational processes, including high-quality lecturers who graduated from top-ranked schools and produce research published in top-tier academic journals.
Students win recognition and plaudits at several prestigious national and international academic competitions. International programmes are reformed to ensure high percentages of internationally-equipped students. Notable numbers of CBS graduates go on to study at many of the world's top business schools.
"The AACSB assessment will evaluate partnerships in the network every three years. As such, CBS sees its current success as the beginning of earning a long-term world reputation," Dr Wilert said.
"The AACSB Asia Pacific Annual Conference set the centre stage for experts in the education industry to contribute their experiences to empower academic quality, reminding us to re-evaluate our focus and keep improving and shifting to youth-centric education."
CBS valued Thailand Business School's educational reformation as a role model Lifeline learning, academically supported investment portal that includes a stock-trading lab, along with a performing arts theatre, where observation and learning passion are cultivated.
The revolution in education aims to inculcate a polished mindset approach in students relevant to the real world and which doesn't drop humanity in the shadow of business competition and the relentless drive to profit.
"Theory without a tangible approach to the real world is going extinct. In its place, new paths of learning are growing through students with a responsible mindset," according to Dr Wilert.
"Responsibility is no longer defined by assigned positions but by graduates prepared with strategic thinking who can lead development for the entire organisation and society as well as have the ability to judge what is necessary to proceed, solve or stop."
CBS affirmed its stance as a leader in world-class quality standards for business administration education. Learning in the age of digital disruption is about more than just conventional learning methods and online learning.
Knowledge and experience sharing among students, faculty and practitioners also matter as they push the boundaries of collaboration and innovation forward.
Meanwhile, CBS declared itself fully committed to encouraging intellectual power, cultivating emotional intelligence and empowering the spirit of giving and social responsibility.