ABEST21 Annual Report 2013

ABEST21 Annual Report 2013 March 2014 ABEST21 THE ALLIANCE ON BUSINESS EDUCATION AND SCHOLARSHIP FOR TOMORROW, a 21st century organization Tokyo 1

Contents Message from the President I. Highlights 2013 4 II. ABEST21 Activities 2013 7 III. ABEST21 Commitment 10 IV. ABEST21 Governance 12 V. ABEST21 Membership 18 VI. Quality Assurance Services 23 VII. Network Services 29 VIII. Research Services 37 IX. Publications 40 X. ABEST21 Financial Statements 2013 separate sheet 2

Message from the President In 2014, ABEST21 has welcomed its nineth year since its foundation on July 1, 2005. We started with 16 business schools from Japan and abroad, but during the past eight years the number of member schools has more than quadruple from our original size, and now amounts up to 59 business schools from 18 different countries. We conducted business accreditation of eight Professional Graduate Schools of Business in Japan, one business school in Malaysia, one business school in Singapore and one business school in Indonesia. Furthermore, we are currently reviewing nine business schools in the Asia-Pacific region for business accreditation. Now, we have been recognized as an international business accreditation agency for business schools in the Asia-Pacific region. Our mission is to advance management education in business schools on a global basis by encouraging the mutually beneficial collaboration among our member institutions. Therefore, our business accreditation activities and promotion of mutually beneficial collaboration together can be seen as a car s wheels, combining the efforts to move the vehicle forward. The current age of globalization creates the challenges for educators, which have never been greater. No single institution can recruit, develop or retain all the resources required to cover every aspect of management education. As such, business schools are challenged as never before to develop and maintain first-class management programs. Therefore, we have enforced five Joint Research Projects with member institutions in order to encourage mutually beneficial collaboration among us. In the last four years we have conducted an international joint research project on Improving Quality of Management Education as a Research Project-3 in 2009, Competencies in Management Professionals as Research Project-4 in 2010, and Developing Management Curriculum in Business Schools as Research Project-5 in 2011. Now, we are conducting Case Writing-CSR as a Research Project-6 and Developing ASEAN Business Accreditation System Model as a Research Project-7. As the number and diversity of ABEST21 members increase, we feel the need for deeper cultural understanding to build stronger bond between our members. Globalization is a process of mutually respecting and accepting each other s culture and values not dissimilar to individualism. The background of individualism is often religious beliefs, and the knowledge of religious beliefs around the world is essential in understanding this concept. This process demands that we look at ourselves from a different point of view. At ABEST21, we like to keep this in mind and wish to continue to foster the idea of collaboration, cooperation and mutual understanding. We are still at an infant stage of our development and have yet to mature as an organization. However, I believe that through the opportunity to conduct accreditation and encourage collaboration, we have accelerated our pace towards the established organization. ABEST 21 will continue to ensure and enhance the quality of management education, which will foster the professionals who will contribute to peace and prosperity of our world. 3 March 1, 2014 Fumio ITOH, President

I. Highlights 2013 1. Toshiba Lecture On March 8, a lecture on Toshiba HR Practices was given by Mr. Takeyuki Miyazaki, Group Manager, Human Resources Development Group, Global Human Resources Office, Human Resources and Administration Division of Toshiba Corporation. Toshiba Corporation has a total 198,356 employees as of 2012, of which 22,984 are based in China and 29,504 in Asia excluding China and Oceania. In total, they account for 27% of the total number of employees. Toshiba s practices aiming to develop global human resources were introduced, including Innovation Leader Training, Liberal Arts Training, and Global Integrated Programs with INSEAD. Fostering of Global Talents aiming at diverse human resources was also mentioned. 2. Toshiba Fuchuu Complex Visit On March 8, we visited the Fuchu Complex located in Fuchu City, Tokyo. The Complex started its operation in 1940. About 10,000 employees work on this site with total land space of 665,000 sq. meters. In the Smart Grid Presentation Room where Smart Community model is presented, the Community was explained as a model to realize an integrated optimized control system for infrastructure including electricity, water, transportation, logistic, medical service and information. Based on this model we imagined our future living area. At the Elevator Development Center, the cutting-edge technology used in making the elevators at Tokyo Skytree was explained. 3. International Symposium 2013 On March 9, ABEST21 International Symposium for 2012 academic year on Educational Quality Assurance and Accreditation System was held at the International Conference Hall of Aoyama Gakuin University. Keynote speech was given by Mr. Kazunobu Asada (Director, Higher Education Policy Planning Division, Higher Education Bureau, MEXT) based on the material University Education Quality Assurance and Higher Education Policy on various measures for global development of higher education in Japan. Special speech was given by Mr. Takeshi Hibiya (Full-time Corporate Auditor, Fuji Xerox Co., Ltd.) on CSR and Fuji Xerox based on the material CSR Management at Fuji Xerox and Future Management (in the 21 st Century). Another special speech was given by Dean Dato Mohamed Mustafa Ishak (Universiti Utara Malaysia, Malaysia) on Situation of Higher Education in Malaysia. 4

4. Accreditation Seminar in Malaysia On May 20, the Seminar was held at Management and Science University (MSU), MSU City Campus, MSU Learning Centre, Malaysia, for the schools applying for accreditation in 2013. The submission deadline for Accreditation Plan and Self-Evaluation Report is June 30. The Seminar called for a final check on the reports one month before the final submission date. The Seminar was attended by 26 participants from 10 schools, from Indonesia, Russia, and Malaysia. 5. Joint Workshop with APMMI On June 22, APMMI (Asosiasi Program Magister Manajement Indonesia) Workshop was held at Universitas Bengkulu, located in Sumatra, Indonesia. APMMI is a solidarity body of Indonesian universities offering management program in their master s courses. The association is chaired by Professor Arief Daryanto (Director, Graduate Program of Management and Business, Bogor Agricultural University). In the Workshop, President Itoh of ABEST21 delivered a keynote speech on Quality Assurance of Graduate Business Education in a Globalized World. 6. Chiang Mai Conference 2013 Chiang Mai Conference 2013 was held from July 4 to 6 at Chiang Mai University, Thailand. Keynote speech was given by Dr. Sooksan Kantabutra of Mahidol University on Philosophy of Sufficiency and Its Implications on Management Education, which introduced the Sufficiency Economy concept, referred to in the message of HM King Bhumibol Adulyadej of Thailand. As for Fuji Xerox CSR-Case Writing, research results were presented by the country representatives. Presentation on Joint Research Project-7 was given by President Itoh with detailed explanation on Asia Business Accreditation System Model. 7. Application for General Incorporated Association Following the decision to change the status of ABEST21 from an NPO to a general incorporated association which was ratified at the extraordinary general assembly held on July 5, we submitted the application to the Ministry of Justice on August 19. Three ABEST21 board members based in Japan were stated as founding members required for application: Mr. Kazuo Tanigawa (Toshiba Corporation), Mr. Yoshihiro Tokuga (Kyoto University), and Fumio Itoh (President). 5

8. ABEST21 Global Knowledge Network Seminar The Management Seminar was held by ABEST21 Network Division on November 8, 2013, at Toshiba Education and Training Institute. We invited Mr. Kazuhito Endo, Senior Advisor, Global HR Development Department, Human Resources & General Affairs Division, ITOCHU Corporation, to give lecture on Global Talent Enhancement ITOCHU s Case. ITOCHU Corporation was established in 1858 by Chubei Itoh. The Company now has approximately 130 bases in 66 countries, approximately 4200 employees, with capital stock of 202.2 billion yen. 9. Establishment of Network for Subject Accreditation Agencies On December 16, 2013 at ABEST21 office, the network for conducting subject quality assurance and accreditation of professional graduate schools was established, consisting of three accreditation agencies: Japan Law Foundation, Japanese Institute of International Accounting Education, and ABEST21. Together with these agencies specializing respectively in law and accounting, ABEST21 as a business accreditation institution will exchange opinions on specific issues that organizations conducting subject quality assurance and accreditation of professional graduate schools face. 6

II. ABEST21 Activities 2013 Time flies, and the year 2013 is ending as quick as a blink of an eye. The speed of time we experience seems to confirm the speed of ABEST21 growth. In 2013 academic year, ABEST21 had come to practice reviews on 14 schools, as a result of widely spread efforts for quality assurance of management education in Asia. We would like to look back to the activities in 2013 and get ready for 2014, which will be a milestone for ABEST21. 2014 will mark the 20 th anniversary of ABEST21 origin, Global Classroom International Conference which was launched in October 1994. In 2015, ABEST21 will celebrate its 10 th year since its reorganization in July 2005. January 2013 7 th - Magister Management Program on-site interview at Universitas Indonesia 8 th - Visit to BAN-PT 11 th - Peer Review Committee-Group A in Tokyo 28 th - ABEST21 Quality Assurance (AQA) Seminars at Chiang Mai University and Naresuan University, Thailand 30 th - Visit to Malaysia Qualification Agency (MQA) 30 th - AQA Seminar at Universiti Putra Malaysia 31 st - AQA Seminar at Bandung, Indonesia, co-sponsored by AFEBI and ABEST21 February 2013 12 th - Visit to Sony Corporation Head Office 15 th - 22nd meeting of Council for Human Resources Development 20 th - The 2 nd Project-7 Country Chair Meeting in Kuala Lumpur 25 th - Coordinating Committee for Accreditation in 2012 26 th - Visit to Toshiba Corporation Head Office March 2013 5 th - Visit to MEXT 6 th - Visit to Fuji Xerox Co., Ltd. 7 th - Peer Review Steering Committee in Tokyo 8 th - Accreditation Committee at Toshiba Head Office 8 th - Visit to Toshiba Fuchu Complex 9 th - ABEST21 Board Meeting and General Assembly at Aoyama Gakuin University 9 th - International symposium at Aoyama Gakuin University 14 th - Visit to MEXT 18 th - Visit by SBI Graduate School 19 th - Visit to Toshiba Human Resources Development Corporation April 2013 10 th - Visit to MEXT 10 th - Visit by Graduate School of Innovation and Technology Management, Yamaguchi University 11 th - Visit to MEXT 11 th - Visit to Fuji Xerox Co., Ltd. 7

24 th - Visit to Fuji Xerox Co., Ltd. 25 th - Visit to Center for National University Finance and Management May 2013 5 th - Audit by ABEST21 auditor Nobue Susie Brown (University of Texas at Austin) 7 th - Visit to MEXT 17 th - 23th meeting of Council for Human Resources Development 17 th - AQA Seminar in Tokyo 20 th - AQA Seminar in Kuala Lumpur 21 st - Visit to International Islamic University Malaysia June 2013 12 th - Visit to Graduate School of Innovation and Technology Management, Yamaguchi University 18 th - Board Meeting of Council for Human Resources Development 20 th - Interview by Education and Science Journal 22 nd - Attended APMMI Workshop in Indonesia 23 rd - Visit to Bogor Agricultural University, Indonesia July 2013 1 st - Establishment of ABEST21-QMC 5 th - ABEST21 Local Conference at Chiang Mai University, Thailand 5 th - ABEST21 Extraordinary General Assembly at Chiang Mai University, Thailand 18 th - The 1st ABEST21-QMC Executive Meeting 25 th - Peer Review Team Network Committee in Tokyo 30 th - Visit to Toshiba Corporation August 2013 5 th - The 2nd ABEST21-QMC Executive Meeting 7 th - Visit to Graduate School of Management, Kyoto University 16 th - Visit to MEXT 19 th - The 3rd ABEST21-QMC Executive Meeting 19 th - Applied for change to general incorporated association 26 th - The 4th ABEST21-QMC Executive Meeting September 2013 13 th - 24th meeting of Council for Human Resources Development 19 th - The 5th ABEST21-QMC Executive Meeting 24 th - The 6th ABEST21-QMC Executive Meeting 26 th - The 7th ABEST21-QMC Executive Meeting October 2013 1 st - Attended EFMD Asia Advisory Board Meeting in Phuket, Thailand 1 st - Attended Higher Education Quality Assurance Forum in Tokyo 4 th - The 8th ABEST21-QMC Executive Meeting 4 th - Visit to Higher Education Policy Planning Division, Higher Education Bureau, MEXT 9 th - The 9th ABEST21-QMC Executive Meeting 15 th -The 10th ABEST21-QMC Executive Meeting 22 nd -The 11th ABEST21-QMC Executive Meeting 8

24 th - Visit to Matsumoto University 25 th - Visit to Toshiba Education and Training Institute 25 th - Visit by SBI Graduate School 30 th - Visit to Kansai University of International Studies November 2013 1 st - MOT Study Group Preliminary Committee in Tokyo 7 th - Peer Review Committee at Toshiba Education and Training Institute 8 th - Global Knowledge Network Seminar at Toshiba Education and Training Institute 11 th -The 12th ABEST21-QMC Executive Meeting 18 th - The 13th ABEST21-QMC Executive Meeting 21 st - Orientation on Maintenance Accreditation 25 th - The 14th ABEST21-QMC Executive Meeting 29 th - The 25th meeting of Council for Human Resources Development December 2013 2 nd - The 15th ABEST21-QMC Executive Meeting 5 th - The 1st ABEST21-QMC Seminar 9 th - The 16th ABEST21-QMC Executive Meeting 11 th -Visit to Toshiba Education and Training Institute 12 th -Visit to Maebashi Kyoai Gakuen College 13 th -On-site interview at Graduate School of International Corporate Strategy, Hitotsubashi University 16 th -Establishment of Specialized Accreditation Institutions Network Organization 16 th -The 17th ABEST21-QMC Executive Meeting 16 th - Improvement Report Assessment Coordinating Committee 9

III. The ABEST21 Commitment 1. ABEST21 Origin - Global Classroom International Conference 1994 ABEST21 was founded in 2005, but its origins go back to 1994, when 7 business schools from Japan and abroad joined together in a Global Classroom Conference - a cross-border, virtual classroom using online real-time TV conference system, which enabled the business schools to hold the joint lectures based on the cutting-edge information communication technology. The first Global Classroom Conference was held on October 28, 1994. In the following years, the number of schools participating in the Global Classroom Conference increased, and on June 28, 2002 it was reorganized as the Global Knowledge Network. The main goals of this new organization were to conduct research aimed at developing the educational methods for the Global Classroom, and to further improve the quality of business education. It also aimed to build a system to guarantee the quality of management education based on a global perspective. The schools participating in the Global Knowledge Network concluded the International Cooperative Partnership agreement and developed a substantial international knowledge exchange system for promoting the globalization of the management education. Seven business schools joined together in a Global Classroom Conference held on October 28, 1994. 2. The Establishment of ABEST21 Global Knowledge Network considered it an urgent issue to develop a system to enhance the quality of management education at the business schools. With this idea in mind, on June 28, 2004, at the Hakone Conference, the establishment of network aiming at the enhancement of management education at member schools was discussed, and the preparation to establish THE ALLIANCE ON BUSINESS EDUCATION AND SCHOLARSHIP FOR TOMORROW, a 21st century organization (ABEST21) was started. A year later, on July 1, 2005, assisted by 16 business schools from the world, the Network decided to establish ABEST21 as a mutual evaluation institution. The 16 business schools are as follows. Applied Finance Centre, Mcquarie University, Australia School of Management, Fudan University, China College of Business Administration, Northeastern University, China Mona Institute of Business, University of The West Indies, Jamaica Graduate School of International Management, Aoyama Gakuin University, Japan Institute of Business and Accounting, Kwansei Gakuin University, Japan Graduate School of Business Administration, Nanzan University, Japan Graduate School of Business Sciences, University of Tsukuba, Japan College of Business Administration, Seoul National University, Korea 10

Faculty of Management, Multimedia University, Malaysia School of Business, Al Akhawayn University, Morocco Graduate School of Business Administration, Moscow State University, Russia Tepper School of Business, Carnegie Mellon University, USA School of Business, The College of William and Mary, USA McCombs School of Business, University of Texas at Austin, USA Rady School of Management, University of California San Diego, USA 3. ABEST21 Mission Statement We believe that there are many areas where we can explore and interact in the interest of international cooperation in the XXI century. We will advance business school education on a global basis by encouraging the mutually beneficial collaboration among member institutions. We, therefore, have come to the conclusion that we shall use our efforts to establish THE ALLIANCE ON BUSINESS EDUCATION AND SCHOLARSHIP FOR TOMORROW, a 21st century organization. The mission of ABEST21 is to advance education in business schools on a global basis by encouraging the mutual cooperation among its member institutions. The mission can be accomplished through the following goals: 1. Sharing the information on curricular and teaching materials between the member institutions. 2. Promoting joint research projects, joint courses, international symposium and global classroom opportunities. 3. Providing advice and coordination for the member institutions in the research activities and encouraging the members to continually strive to advance the global business education. 4. Facilitating the continuous improvement of the business education through accreditation. 4. An Accrediting Agency for Professional Graduate School of Business and Intellectual Property in Japan ABEST21 has been approved as an accrediting organization for Professional Graduate School of Business and Professional Graduate School of Intellectual Property by the Minister of MEXT of Japan as follows; On October 12, 2007, the certificate issued to ABEST21 by the Minister of MEXT as accrediting agency for Professional Graduate School of Business. On October 31, 2011, the certificate issued to ABEST21 by the Minister of MEXT as accrediting agency for Professional Graduate School of Intellectual Property. 11

IV. ABEST21 Governace 1. ABEST21 Administration Appointment of new Board members for 2013 On March 9, 2013, ABEST21 Board Meeting 2012 was held at the International Conference Hall of Aoyama Gakuin University. The Board organized a Nominating Committee chaired by Vice President Ilker Baybars (Carnegie Mellon University) for electing the next President. After full deliberation, the Committee appointed Fumio Itoh as the next President, which was ratified by the General Assembly. Based on ABEST21 Bylaw, President Itoh appointed four Vice Presidents and the Executive Secretary. After full deliberation, it was ratified by the General Assembly. Appointment of board members was left to the Executive Committee consisting of President, Vice Presidents and Executive Secretary. The Executive Committee decided to reshuffle half of the board members so that many ABEST21 members will experience the position. The following members were appointed: 1) Executive Committee (Term:April 1, 2013 to March 31, 2015) ABEST21 President Fumio Itoh ABEST21 Vice Presidents Ilker Baybars Deputy Dean Emeritus, Tepper School of Business, Carnegie Mellon University, USA Xiongwen Lu Dean, School of Management, Fudan University, China Robert S. Sullivan Dean, Rady School of Management, University of California San Diego, USA Oleg Vikhanskiy Dean, Lomonosov Moscow State University Business School, Moscow State University, Russia ABEST21 Executive Secretary Ming Yu Cheng Professor, Faculty of Accounting and Management, Universiti Tunku Abdul Rahman, Malaysia 2) Board Members (Term:April 1, 2013 to March 31, 2015) Fumio Itoh (ABEST21 President) Ilker Baybars (ABEST21 Vice President) Deputy Dean Emeritus, Tepper School of Business, Carnegie Mellon University, USA Xiongwen Lu (ABEST21 Vice President) Dean, School of Management, Fudan University, China Robert S. Sullivan (ABEST21 Vice President) Dean, Rady School of Management, University of California San Diego, USA Oleg Vikhanskiy (ABEST21 Vice President) Dean, Lomonosov Moscow State University Business School, Moscow State University, Russia Ming Yu Cheng (ABEST21 Executive Secretary) Professor, Faculty of Accounting and Management, Universiti Tunku Abdul Rahman, Malaysia 12

Tae-Sik Ahn Professor, College and Graduate School of Business, Seoul National University, Korea John Benson Head, School of Management, University of South Australia, Australia Siriwut Buranapin Dean, Faculty of Business Administration, Chiang Mai University, Thailand Candra Fajri Ananda Dean, Faculty of Economics and Business, Universitas Brawijaya, Indonesia Ali Khatibi Dean, Faculty of Business Management & Professional Studies, Management & Science University, Malaysia Qinhai Ma Dean, School of Business Administration, Northeastern University, China Ari Kuncoro Dean, Faculty of Economics, Universitas Indonesia, Indonesia R. Taggart Murphy Program Chair, MBA Program in International Business, Graduate School of Business Sciences, University of Tsukuba, Japan Lawrence B. Pulley Dean, Mason School of Business, College of William and Mary, USA Kazuo Tanigawa Advisor, Toshiba Corporation Principal Office, Japan 3) Auditors Nobue Susie Brown Associate Dean, McCombs School of Business, University of Texas at Austin, USA Kouichi Saitoh Professor, School of Business Administration, Nanzan University, Japan 2. ABEST21 Divisions 1) Membership Division (Term: April 1, 2013 to March 31, 2015) Director Ilker Baybars Deputy Dean Emeritus, Tepper School of Business, Carnegie Mellon University, USA Deputy Director Gugus Irianto Senior Lecturer, Faculty of Economics and Business, Universitas Brawijaya, Indonesia Membership Committee Chair John Benson Head, School of Management, University of South Australia, Australia Vice Chair A. Seetharaman Dean, SP Jain School of Global Management, Singapore 2) Network Division Director Xiongwen Lu Dean, School of Management, Fudan University, China Deputy Director Noor Azizi Ismail Dean, Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia, Malaysia 13

Network Committee Chair Popy Rufaidah Associate Professor, Faculty of Economics and Business, Universitas Padjadjaran, Indonesia Vice Chair Alberto L. Buenviaje Dean, Ateneo Graduate School of Business, Ateneo de Manila University, Philippines 3) Accreditation Division Director Robert S. Sullivan Dean, Rady School of Management, University of California San Diego, USA Deputy Director Yoshihiro Tokuga Dean, Graduate School of Management, Kyoto University Accreditation Committee Chair Takeshi Hibiya Audit & Supervisory Board Member, Fuji Xerox Co., Ltd. Vice Chair Ruslan Prijadi Asssociate Professor, Faculty of Economics, Universitas Indonesia, Indonesia Peer Review Committee Chair Hiroe Tsubaki Vice Director-General, The Institute of Statistical Mathematics, Japan Vice Chair Arfah Salleh Dean, Putra Business School, Universiti Putra Malaysia, Malaysia 4) Research Division Director Oleg Vikhanskiy Dean, Lomonosov Moscow State University Business School, Moscow State University, Russia Deputy Director Ken Kaminishi Dean, Graduate School of Innovation & Technology Management, Yamaguchi University, Japan P6-Case Writing Committee Chair Siriwut Buranapin Dean, Faculty of Business Administration, Chiang Mai University, Thailand P7-Accreditation System Committee Chair Ruslan Prijadi Associate professor, Faculty of Economics, Universitas Indonesia, Indonesia 5) ABEST21 Advisors (April 1, 2011 to March 31, 2013) Kiyoshi Kobayashi Professor, Graduate School of Management, Kyoto University, Japan Kai Li Professor, School of Business Administration, Northeastern University, China 14

3. ABEST21 Team President & CEO, Fumio Itoh Executive Secretary, Ming Yu Cheng Manager, Yuka Nakagawa Risa Arisue Youko Ishikawa Miho Fuchida Advisors Kiyoshi Kobayashi Professor, Graduate School of Management, Kyoto University, Japan Kai Li Professor, School of Business Administration, Northeastern University, China Sadayuki Horie Licensed Tax Accountant Office: 5-4-29 Minami-Aoyama, Minato-ku, Tokyo 107-0062, JAPAN TEL. 03-3498-6220; FAX. 03-3498-6221; URL. http://www.abest21.org/ 4. Organization 15

3. Board Meeting 2013 On March 9, 2013, ABEST21 Board Meeting 2012 was held at the International Conference Hall of Aoyama Gakuin University. The following items were discussed and ratified. On borrowing Loan from Japan Finance Corporation On approving the ABEST21 Business Accreditation 2012 School of Business and Management, Institut Teknologi Bandung, Indonesia Master of Management program, Faculty of Economics, Universitas Indonesia, Indonesia. On approving ABEST21 Financial Statement 2011 / 2012 On publicizing ABEST21 Annual Report 2012 On electing ABEST21 President The Board organized a Nominating Committee chaired by Vice President Ilker Baybars for electing next President based on ABEST21 Bylaw-Article 5-Section 3, and the Committee appointed Fumio Itoh as next President. After full deliberation, the General Assembly ratified Fumio Itoh as next President. The term is two years from April 1, 2013 to March 31, 2015. On appointing the Vice President, the Executive Secretary and Auditors Depending on ABEST21 Bylaw-Article 5, President Itoh appointed four Vice Presidents for the term starting April 1, 2013 till March 31, 2015: Director, Ilker Baybars (Carnegie Mellon University) Director, Xiongwen Lu (Fudan University) Director, Robert S. Sullivan (University of California San Diego) Director, Oleg Vikhanskiy (Moscow State University) Executive Secretary, Ming Yu Cheng (Universiti Tunku Abdul Rahman) Auditor, Koichi Saito (Nanzan University) Auditor, Ms. Nobue Susie Brown (University of Texas at Austin) On appointing the Board members The Executive Committee decided to reshuffle half of the board members so that many ABEST21 members will experience the position. On revising ABEST21 Business Accreditation Fees On appointing Chairs of the Accreditation Committee and Peer Review Committee On hotel accommodation fees and transportation fees On holding the Chiang Mai Conference in Chiang Mai University on July 4-6, 2013 4. General Assembly 2013 On March 9, 2013, ABEST21 General Assembly 2013 was held at the International Conference Hall of Aoyama Gakuin University. The General Assembly was chaired by Professor Ming Yu Cheng and the following items were ratified. On borrowing Loan from Japan Finance Corporation On approving the ABEST21 Business Accreditation 2012 School of Business and Management, Institut Teknologi Bandung, Indonesia Master of Management program, Faculty of Economics, Universitas Indonesia, Indonesia. On approving ABEST21 Financial Statement 2011 / 2012 On publicizing ABEST21 Annual Report 2012 On electing ABEST21 President 16

The General Assembly ratified Fumio Itoh as next President. The term is two years from April 1, 2013 to March 31, 2015. On appointing the Vice President, the Executive Secretary and Auditors Depending on ABEST21 Bylaw-Article 5, President Itoh appointed four Vice Presidents for the term starting April 1, 2013 till March 31, 2015: Director, Ilker Baybars (Carnegie Mellon University) Director, Xiongwen Lu (Fudan University) Director, Robert S. Sullivan (University of California San Diego) Director, Oleg Vikhanskiy (Moscow State University) Executive Secretary, Ming Yu Cheng (Universiti Tunku Abdul Rahman) Auditor, Koichi Saito (Nanzan University) Auditor, Ms. Nobue Susie Brown (University of Texas at Austin) On appointing the Board members On revising ABEST21 Business Accreditation Fees On appointing Chairs of the Accreditation Committee and Peer Review Committee On hotel accommodation fees and transportation fees On holding the Chiang Mai Conference in Chiang Mai University on July 4-6, 2013 17

V. ABEST21 Membership 1. Membership Committee Membership Committee was set up to achieve ABEST21's goal to increase the number of school/affiliate members and at the same time to enhance the quality of activities. The Committee takes over the screening process on school/affiliate applicants from the Board of Directors. After screening, the Committee recommended the following applicants to the ABEST21 President, which grant approval for membership. The new school members are as follows: 1) Master of Management program, Satya Wacana Christian University, Indonesia We are pleased to announce that Master of Management program, Satya Wacana Christian University has joined ABEST21 as a school member. The school was recommended by ABEST21 Indonesia Network Committee and its membership was ratified by the Membership Committee. Satya Wacana Christian University was originally established in 1956 by nine churches as Indonesian Christian Teaching Educational Tertiary Institution. The campus of the private university is located in Salatiga, a highland city in the suburb of Jogjakarta, Java, Indonesia. There are approximately 380 faculty members and 12,560 students. The new ABEST21 member Master of Management was established in 2000. The school is represented by Professor Christantius Dwiatmadja. The school website: www.uksw.edu 2) School of Business and Economics, University of Management and Technology, Pakistan School of Business and Economics, University of Management and Technology has joined ABEST21 as the first school member from Pakistan, after being approved by the Membership Committee. University of Management and Technology was established in 1990 in Lahore, Punjab State, on the border with India. The school was originally founded as Institute of Leadership and Management, a medium-sized private university. There are approximately 5,500 students and 300 faculty members. The new ABEST21 member, School of Business and Economics, was established in 1990 and currently educates approximately 1,200 students. The School of Business and Economics is represented by Dr. Rukhsana Kalim. The School website: http://www.umt.edu.pk/ 3) Faculty of Economics and Business, University of Lampung, Indonesia Faculty of Economics and Business, Universitas Lampung is located at Bandar City, the capital of Lampung State in the southern part of Sumatra, Indonesia. The Faculty of Economics and Business was established in 1965 as the predecessor of the Faculty of Economics of a National University founded in 1960 as a branch of University of Sriwijaya. Universitas Lampung has a campus of 67.5 hectares and 24,511 students. There are about 2,200 students studying at the Faculty of Economics and Business. The Dean is Professor Satria Bangsawan. School website: www.unila.ac.id 18

4) Faculty of Economics and Business, Hasanuddin University, Indonesia Hasanuddin University is located in Makassar, South Sulawesi. It is a national university founded in 1956 when it became independent from the University of Indonesia. The University has approximately 28,880 students. The Faculty of Economics and Business, one of the oldest faculties in Indonesia, was launched in 1947 before the establishment of Hasanuddin University. The Faculty has approximately 2,430 students. The Dean is Professor Ali H. Muhammad. School website: www.unhas.ac.id 5) Graduate School of Business Administration, Kobe University The Graduate School of Business Administration, Kobe University (Professional Graduate School) is located in Kobe City, Hyogo Prefecture. In 1989 the school established its daytime-and-evening MBA program for practicing managers and professionals, the first of the national universities in Japan. The School has 57 full-time faculty members and approximately 150 students in total. The Kobe Business School has a unique educational system called Project Method (or Kobe Method) with Research-based Education, which is a different style from the MBA programs of the Western business schools. For the convenience of the students, there are weekday evening courses at Osaka Campus and intensive courses on Saturdays at Kobe Campus. The Dean is Professor Fumitoshi Mizutani. The School website: http://mba.kobe-u.ac.jp/ 6) SBI Graduate School SBI Graduate School (professional graduate school) is a correspondence business school established by SBI Holdings, Inc. in 2008. The School has 21 full-time faculty members and 160 students in total. The educational characteristics of the School include emphasis on moral education based on Chinese classical philosophy which influenced the people of Japan, as well as e-learning system using Internet which was built to achieve advanced educational effects. The Dean is Professor Takao Shigeta. The School website: http://www.sbi-u.ac.jp/ 7) University Teaching & Learning Centre, Universiti Utara Malaysia Teaching & Learning Centre, Universiti Utara Malaysia (UUM) has joined ABEST21 as the first affiliate member from Malaysia, after being approved by the Membership Committee. Since Othman Yeop Abdullah Graduate School of Business, one of the graduate schools from Universiti Utara Malaysia, is already a school member of ABEST21, the Teaching & Learning Centre will be the second ABEST21 member from the same university. Established in 1984 as the sixth national university in Malaysia, UUM specializes in management education in accordance with the government policy. Approximately 31,000 students study on the campus at Sintok, Kedah State, near the border with Thailand. The new ABEST21 member University Teaching & Learning Centre is a research center organizing workshops on different topics such as Open Educational Resources. University Teaching & Learning Centre is represented by Deputy Director Zulikha Binti Jamaludin. The School website: http://www.uum.edu.my/index.php/en/ 2. Membership status We now have 70 members in total. On July 1, 2005 ABEST21 started with 16 school members consisting of business schools in Japan and abroad. In the past 8 years, the number of 19

ABEST21 school members has increased by 3.7 times - to 59 schools, plus affiliate, individual, reciprocal and honorary members. July 1, 2005 March 1, 2014 School members 16 59 Affiliate members - 8 Individual members - 8 Reciprocal members - 3 Honorary members - 1 Total 16 79 *18 countries 3. ABEST21 Members (as of March 1, 2014) 1) School Members AUSTRALIA Faculty of Business & Law, University of Newcastle School of Management, University of South Australia CHINA School of Business Administration, Dongbei University of Finance and Economics School of Management, Fudan University School of Management, Harbin Institute of Technology School of Management, Huazhong University of Science and Technology School of Management, Jilin University School of Business, Nanjing University School of Business Administration, Northeastern University School of Business Administration, South China University of Technology GERMANY Faculty of Management, University of Applied Sciences Hof. INDIA Bharathiar School of Management and Entrepreneur Development, Bharatiar University INDONESIA Graduate Program of Management and Business, Bogor Agricultural University Faculty of Economics and Business, Universitas Brawijaya School of Business and Management, Institut Teknologi Bandung Faculty of Economics and Business, Universitas Diponegro Faculty of Economics and Business, Universitas Gdjah Mada Faculty of Economics and Business, Hasanuddin University Faculty of Economics and Business, Universitas Indonesia Faculty of Economics and Business, Universitas Lampung Faculty of Economics and Business, Universitas Padjadjaran Faculty of Economics and Business, Satya Wacana Christian University Faculty of Economics, Universitas Sebelas Maret Faculty of Economics and Business, Telkom University 20

JAMAICA Mona School of Business, University of West Indies JAPAN Graduate School of International Management, Aoyama Gakuin University Graduate School of International Corporate Strategy, Hitotsubashi University Institute of Business and Accounting, Kwansei Gakuin University Graduate School of Business Administration, Kobe University Graduate School of Management, Kyoto University Graduate School of Business Administration, Nanzan University SBI Graduate School of Management, SBI University Graduate School of Business Sciences, University of Tsukuba Waseda Business School, Graduate School of Commerce, Waseda University Graduate School of Innovation and Technology Management, Yamaguchi University KOREA College of Business Administration, Seoul National University MALAYSIA Graduate School of Management, International Islamic University Malaysia Graduate School of Business, Universiti Kebangsaan Malaysia Faculty of Business Management & Professional Studies, Management & Science University Graduate School of Business, Faculty of Business and Accountancy, Universiti Malaya Yayasan Putra Business School, Universiti Putra Malaysia School of Management, Universiti Sains Malaysia Graduate School of Business, Universiti Sains Malaysia Arshad Ayub Graduate Business School, Universiti Teknologi MARA Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia MEXICO EGADE, Tecnológico de Monterrey MOROCCO School of Business Administration, Al Akhawayn University in Ifrane PAKISTAN School of Business and Economics, University of Management and Technology PHILLIPINES Ateneo Graduate School of Business, Ateneo de Manila University RUSSIA Lomonosov Moscow State University Business School, Moscow State University SINGAPORE S P Jain School of Global Management SRI LANKA Faculty of Management & Finance, University of Colombo THAILAND Faculty of Business Administration, Chiang Mai University Faculty of Business, Economics and Communication, Naresuan University 21

USA Rady School of Management, University of California San Diego Tepper School of Business, Carnegie Mellon University School of Business Administration, University of San Diego McCombs School of Business, University of Texas at Austin Mason School of Business, College of William and Mary 8) Affiliate Members FUJI Xerox Co., Ltd., Japan The Institute of Statistical Mathematics, Japan Japan Patent Attorneys Association, Japan Nissan Motor Co., LTD., Japan Sony Corporation, Japan Toshiba Human Resources Development Corporation, Japan Institute for Complex Strategic Studies, Russia University Teaching and Learning Centre, Universiti Utara Malaysia, Malaysia 9) Individual Members Chet BORUCKI, Associate Dean, MBA Programs of Nazarbayev University, Kazakhstan Ming-Yu CHENG, Professor, Faculty of Accountancy and Management, Tunku Abdul Rahman University Douglas DUNN, Former Dean, Tepper School of Business, Carnegie Mellon University, USA Yuji IJIRI, Professor, Tepper School of Business, Carnegie Mellon University, USA Sang-Koo NAM, Professor Emeritus, Korea University, Korea Ishak Ismail, Professor, School of Management, Universiti Sains Malaysia, Malaysia Hasnah Haji Haron, Professor, Graduate School of Business, Universiti Sains Malaysia, Malaysia Roberto M. Arguelles, Associate Dean, School of Accountancy and Business Management, Saint Louis University, Philippines 10) Reciprocal Agreetment Members European Foundation for Management Development (EFMD) National Accreditation Agency for Higher Education of Indonesia (BAN-PT) Assosias Fakultas Ekonomi & Bisnis Indonesia (AFEBI) 11) Honorary Members Sang-Hyung Ahn, Professor, College of Business Administration, Seoul National University, Korea 22

VI. Quality Assurance Services ABEST21 was authorized by the Ministry of Education, Culture, Sports, Science and Technology (MEXT) as an accrediting agency for the Professional Graduate Schools of Business (Business Schools) on October 12, 2007 and for Professional Graduate School of Interllectual Property on October 31, 2011 in Japan. 1. Accreditation Committee On March 8, the Committee was held at Toshiba Corporation Head Office. PRT Chairs reported on Accreditation result (draft) assessed by the Peer Review Committee, and various opinions were exchanged. Accreditations for School of Business and Management, Institute Teknologi Bandung, Indonesia, and Master of Management, Faculty of Economics, Universitas Indonesia, were approved through votes. The result was submitted to the ABEST21 Board Meeting. They were approved at the ABEST21 Board of Directors held on March 9, 2013. Accreditation Certificate was granted to the following schools, after the approval of ABEST21 Board Meeting and the General Assembly: Master of Management, Faculty of Economics, Universitas Indonesia, Indonesia School of Business and Management, Institute Teknologi Bandung, Indonesia. The certificate was handed together with Good Practice Award by President Itoh and Vice President Dr. Ilker Baybars. Together with Universitas Brawijaya, there are now three schools in Indonesia accredited by ABEST21. 2. Peer Review Committee - Period 4 ABEST21 announced the members of the Peer Review Committee for the 4th period. In forming this Committee, ABEST21 improved the review system in order to implement the basic rules for mutual assessment based on our accumulated experience and knowledge. The Committee which traditionally consisted of mainly review members now consists of 25 to 30 representatives of ABEST21 members, considering the opinions raised at the Peer Review Committee in November 2012 and Chiang Mai Conference in July 2013. The function of the Committee is now clearly separate from the Accreditation Committee. Peer Review Committee judge the quality assurance and educational enhancement level based on an academic viewpoint, by discussing the review reports prepared by the Peer Review Teams. The term of the Peer Review Committee members is from September 1, 2013 to March 31, 2014. The Committee shall hold two meetings per year, basically in November and March. The members for Period 4 are as follows. Peer Review Committee Chair 23

Hiroe Tsubaki Vice Director-General, Institute of Statistical Mathematics, Japan Vice Chair Arfah Salleh Dean, Putra Business School, Universiti Putra Malaysia, Malaysia Members Candra Fajri Ananda Dean, Faculty of Economics and Business, University of Brawijaya, Indonesia John Benson Head, School of Management, University of South Australia, Australia Alberto L. Buenviaje Dean, Ateneo Graduate School of Business, Ateneo de Manila University, Philippines Siriwut Buranapin Dean, Faculty of Business Administration, Chiang Mai University, Thailand Arief Daryanto Director, Graduate Program of Management and Business, Bogor Agricultural University, Indonesia Nury Effendi Dean, Faculty of Economics and Business, Universitas Padjadjaran, Indonesia AAhad Osman-Gani Director, Graduate School of Management, International Islamic University Malaysia, Malaysia Izani Ibrahim Dean, Graduate School of Business, Universiti Kebangsaan Malaysia, Malaysia Che Ruhana Isa Dean, Faculty of Business & Accountancy, Universiti Malaya, Malaysia Noor Azizi Ismail Dean, Othman Yeop Abudullah Graduate School of Business, Universiti Utara Malaysia, Malaysia Ken Kaminishi Dean, Graduate School of Innovation and Technology Management, Yamaguchi University, Japan Wihana Kirana Jaya Dean, Faculty of Economics and Business, Universitas Gadja Madah, Indonesia Hiroshi Kanno Dean, Graduate School of International Corporate Strategy, Hitotsubashi University, Japan Ali Khatibi Dean, Faculty of Business Management and Professional Studies, Management & Science University, Malaysia Qinhai Ma Dean, School of Business Administration, Northeastern University, China Ari Kuncoro Dean, Faculty of Economics, Universitas Indonesia, Indonesia R. Taggart Murphy Program Chair, MBA Program in International Business, Graduate School of Business Sciences, University of Tsukuba, Japan Mohamad Nasir Dean, Faculty of Economics and Business, Universitas Diponegoro, Indonesia Tatsuyuki Negoro Director, Waseda Business School, Graduate School of Commerce, Waseda University, Japan Uichiro Nishio Dean, Institute of Business and Accounting, Kwansei Gakuin University, Japan Jaafar Pyeman 24

Director, Graduate Business School, Faculty of Business Management, Universiti Teknologi MARA, Malaysia A. Seetharaman Dean, Academic Affairs, SP Jain School of Global Management, Singapore Toshihiko Shiraki Dean, Graduate School of Business Administration, Nanzan University, Japan Sudarso Kaderi Wiryono Dean, School of Business and Management, Bandung Institute of Technology, Indonesia Sofri Yahya Dean, Graduate School of Business, Universiti Sains Malaysia, Malaysia Peer Review Committee for 2013 On November 7 and 8, the Committee was held by ABEST21 Accreditation Division at Toshiba Education and Training Institute in Shin-Yokohama. The meeting was chaired by Professor Hiroe Tsubaki and Professor Arfah Salleh. The results of report review by respective Peer Review Teams were reported by the Team Chairs, followed by Q&A. Pass/Fail for each report was decided by vote. The reports submitted by the following 21 schools passed successfully. 1) Accreditation Plan Faculty of Economics and Business, Universitas Diponegoro, Indonesia Graduate School of Business, Universiti Kebangsaan Malaysia, Malaysia Yayasan Putra Business School, Universiti Putra Malaysia, Malaysia Arshad Ayub Graduate Business School, Universiti Teknologi MARA, Malaysia Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia, Malaysia Faculty of Business, Economics and Communication, Naresuan University, Thailand 2) Self-Evaluation Report School of Business Administration, Northeastern University, China Faculty of Economics and Business, Universitas Padjadjaran, Indonesia Graduate School of Management, International Islamic University Malaysia, Malaysia Graduate School of Business, Universiti Sains Malaysia, Malaysia 3) Progress Report Graduate School of International Management, Aoyama Gakuin University Graduate School of International Corporate Strategy, Hitotsubashi University Graduate School of Business Administration, Kobe University Graduate School of Business Sciences, University of Tsukuba 4) Improvement Report Institute of Business and Accounting, Business School, Kwansei Gakuin University Graduate School of Management, Kyoto University Graduate School of Business Administration, Nanzan University Waseda Business School, Waseda University Faculty of Business Management & Professional Studies, Management & Science University, Malaysia 25

SP Jain School of Global Management, Singapore Faculty of Economics and Business, Universitas Brawijaya, Indonesia 3. Accreditation Seminar 1) Malaysia Accreditation Seminar On January 30, 2013, ABEST21 Accreditation Seminar was held at Universiti Putra Malaysia (UPM) located in Putrajaya. Details of ABEST21 Accreditation were explained by the Malaysia Committee Chair, Dean Ali Khatibi (Management and Science University) and the Accreditation system was explained by Executive Secretary Dr. Ming Yu Cheng (Universiti Tunku Abdul Rahman). Then President Itoh explained about some details of the assessment item analysis which became an issue in the past. This was followed by an active Q&A session focusing on specific items. The seminar was attended by many participants, including the Deans of business schools at International Islamic University Malaysia (IIUM), Universiti Teknologi MARA (UiTM), Universiti Kebangsaan Malaysia (UKM), Universiti Putra Malaysia (UPM), Universiti Sains Malaysia (USM), and Universiti Utara Malaysia (UUM). 2) Indonesia Accreditation Seminar On January 31, 2013, at Universitas Padjadjaran (UNPAD) in Bandung, Indonesia, a joint Accreditation Seminar was held co-sponsored by AFEBI (ASOSIASI FAKULTAS EKONOMI DAN BISNIS INDONESIA) and ABEST21 Indonesia Committee. Chaired by AFEBI General Secretary and UNPAD Vice Dean Popy Rufaidah, the Indonesia Committee Chair, Dean Sudarsono Kaderi Wiryono (Institute Teknologi Bandung) provided detailed explanation on ABEST21 Accreditation system and process. President Itoh also explained about the objectives of accreditation, the significance of Self-Evaluation, and various issues concerning enhancement of management education and accreditation, based on actual cases. Views on accreditation issues were exchanged actively with the AFEBI members. Their interests toward international accreditation were raised. 3) Maintenance Accreditation Seminar in Tokyo On May 17, Maintenance Accreditation Seminar was held at Minami Aoyama Kaikan with Professor Hiroshi Takamori (Chair, Peer Review Team). Quality assurance period for accreditation in Japan is five years. The schools initially accredited in 2009 are required to obtain accreditation stipulated by the School Education Act by 2014. The Seminar was held to explain about maintenance accreditation to those schools. In maintenance accreditation, the schools are expected to provide better quality of education compared to the level achieved at the initial accreditation, because in the past five years, kaizen issues should have been solved to enhance the quality of education. ABEST21 decided to request the applicant schools to prepare the Maintenance Report in English, so that it could be examined by an international Peer Review Team. The level and method of maintenance accreditation will be the key for international development of the Japanese accreditation institution. 26

4) Joint Accreditation Seminar in Malaysia On May 20, the Seminar was held at Management and Science University (MSU), MSU City Campus, MSU Learning Centre, Malaysia, for the schools applying for accreditation in 2013. The submission deadline for Accreditation Plan and Self-Evaluation Report is June 30. The Seminar called for a final check on the reports one month before the final submission date. The Seminar was attended by 26 participants from 10 schools, from Indonesia, Russia, and Malaysia. After opening remarks by Dr. Fumio Itoh, ABEST21 President, coaching for applicants was given on the following accreditation issues. 1. ABEST21 Peer Review System Dr. Ruslan Pridjadi (Vice Chair, Accreditation Committee, Universitas Indonesia) 2. Mission Statement Dr. Arfah Salleh (Vice Chair, Peer Review Committee, Universiti Putra Malaysia) 3. Educational Programs Dr. Ruslan Pridjadi (Vice Chair, Accreditation Committee, Universitas Indonesia) 4. Students Dr. Ali Khatibi (Chair, Malaysia Network Committee, Management & Science University) 5. Faculty and Staff and Infrastructure Dr. Ming Yu Cheng (ABEST21 Executive Secretary, Universiti Tunku Abdul Rahman) The seminar was followed by Q & A session. The closing remarks were given by Dr. Ming Yu Cheng, Professor, Faculty of Accounting and Management, Universiti Tunku Abdul Rahman, Malaysia. 5) Maintenance Accreditation Seminar On Thursday, November 21, 2013, AQA Seminar on 2013 Maintenance Accreditation was held at Minami Aoyama Kaikan. The approach to analysis for maintenance accreditation, which renews the accreditation period effective April 2015, was explained to the schools accredited in March 2010 (2009 academic year). The guidance focused on the preparation of Progress Report which analyzes the extent of improvement in educational quality in the past five years since the initial accreditation. 4. Accredited Schools JAPAN Graduate School of International Management, Aoyama Gakuin University Graduate School of International Corporate Strategy, Hitotsubashi University Graduate School of Business Administration, Kobe University Institute of Business and Accounting, Kwansei Gakuin University Graduate School of Management, Kyoto University 27

Graduate School of Business Administration, Nanzan University Graduate School of Business Sciences, University of Tsukuba Waseda Business School, Graduate School of Commerce, Waseda University INDONESIA Faculty of Economics and Business, Universitas Brawijaya, Indonesia Faculty of Economics, Universitas Indonesia, Indonesia School of Business and Management, Institute Teknologi Bandung, Indonesia. MALAYSIA Faculty of Business Management & Professional Studies, Management & Science University, Malaysia SINGAPORE SP. Jain School of Global Management, Singapore 28

VII. Global Knowledge Networking 1. Establishment of Country Committee Establishment of Network for Subject Accreditation Agencies On Monday, December 16, 2013 at ABEST21 office, the network for conducting subject quality assurance and accreditation of professional graduate schools was established, consisting of three accreditation agencies: Japan Law Foundation, Japanese Institute of International Accounting Education, and ABEST21. Together with these agencies specializing respectively in law and accounting, ABEST21 as a business accreditation institution will exchange opinions on specific issues that organizations conducting subject quality assurance and accreditation of professional graduate schools face. 2. Visit to School Members 1) Visit to the Graduate School of Management, International Islamic University Malaysia (IIUM) On Tuesday, May 21, we visited Director AAhad Osman-Gani (the fourth from left in the picture) and the ABEST21 Accreditation Task Team at Graduate School of Management, International Islamic University Malaysia located at Gombak, Kuala Lumpur. Progress on self-evaluation analysis was reported, and some advice on solving the problems was provided. IIUM is set under a different system from other Malaysian business schools. We regard it necessary to support the enhancement of the School s distinctive education in order to deepen the understanding of the diversity of the Asian cultures. 2) Visit to MB-IPB, Bogor Agricultural University On Sunday, June 23, we visited the campus of Graduate Program of Management and Business, Bogor Agricultural University, at Bogor, Java, guided by Professor Ujiang Sumarwan. Various educational and research facilities for agricultural and veterinary studies stand on the vast land. A total of 480 students study in the Agribusiness Program of the business school. Additional buildings are being built. Founded in 1963, Bogor Agricultural University has 5 campuses and 9 faculties, with approximately 40,000 students in total. Graduate Program of Management and Business was launched in 1991. The dean is Professor Arief Daryanto, who is also the head of APMMI. 3. Visit to Companies 1) Visit to Sony Corporation On February 12, we visited Sony Corporation Head Office in Shinagawa, Tokyo, to discuss accreditation for business school education quality assurance with Ms. Makiko Yoneda, General Manager, Recruiting Department, Human Resources Division, and Mr. Narihiko Uemura, Deputy 29

Head of Human Resources Division and Vice Dean of Sony University. We asked for Sony s cooperation to provide views based on industry-academia relationship, because this viewpoint is important in accreditation and quality assurance for business school education system which aims to nurture management professionals. Accreditation process in general tends to focus on assessment based on individual criteria for educational research activities. However, with respect to the added value to be provided by a business school to its stakeholders we regard it necessary to assess the educational system as a whole. To practice such assessment, review by the peers involved in education is not enough. This is why we discussed how to practice substantive accreditation based on industry-academia cooperation. 2) Visit to Toshiba Corporation On February 26, we visited Toshiba Corporation Head Office to discuss the role of ABEST21 Accreditation Committee with Mr. Tadashi Okamura, Toshiba s advisor (also Chairman of the Japan Chamber of Commerce and Industry). Currently the substantive assessment process of ABEST21 accreditation is undertaken by the Peer Review Committee. We discussed the need to further clarify the respective roles of the Peer Review Committee and the Accreditation Committee, for the business schools to satisfy the needs of their stakeholders in educational quality assurance based on industry-academia relationship. On March 8, following the Accreditation Committee, a lecture on Toshiba HR Practices was given by Mr. Takeyuki Miyazaki, Group Manager, Human Resources Development Group, Global Human Resources Office, Human Resources and Administration Division of Toshiba Corporation. Toshiba Corporation has a total 198,356 employees as of 2012, of which 22,984 are based in China and 29,504 in Asia excluding China and Oceania. In total, they account for 27% of the total number of employees. Toshiba s practices aiming to develop global human resources were introduced, including Innovation Leader Training, Liberal Arts Training, and Global Integrated Programs with INSEAD. Fostering of Global Talents aiming at diverse human resources was also mentioned. Following the Toshiba Lecture, we visited the Fuchu Complex located in Fuchu City, Tokyo. The Complex started its operation in 1940. About 10,000 employees work on this site with total land space of 665,000 sq. meters. In the Smart Grid Presentation Room where Smart Community model is presented, the Community was explained as a model to realize an integrated optimized control system for infrastructure including electricity, water, transportation, logistic, medical service and information. Based on this model we imagined our future living area. At the Elevator Development Center, the cutting-edge technology used in making the elevators at Tokyo Skytree was explained. 3. Visit to Accreditation Agencies 1) Visit to BAN-PT On January 8, 2013, President Itoh, Professor Ruslan Prijadi and Lecturer Yasmine Nora (both from Universitas Indonesia) visited Secretary Dr. Dwiwahju Sasongo (second from the left) of BAN-PT. 30

Professor Ruslan Prijadi, the Joint Research Project 7 coordinator, discussed the progress of the Project 7. We exchanged views on relationship between BAN-PT and the model of accreditation system to be developed as a result of this Project. The model will be presented at the international symposium to be held on March 9, 2013. 2) Visit to Malaysian Qualifications Agency (MQA) On January 30, 2013, President Itoh and Professor Ming Yu Cheng (ABEST21 Executive Secretary) visited the Malaysian Qualifications Agency (MQA) to meet Mr. Mohamad Dzafir Mustafa (Head of Public and International Affairs Unit). After reporting the progress of Joint Research Project-7, opinions were exchanged on the progress of Research Project 7 in Malaysia. Since it was recognized that the Project requires support from AQAN (ASEAN Quality Assurance Network), we will work on coordination with AQAN. On December 12, 2012 we visited the Malaysian Qualifications Agency (MQA) to meet Deputy Chief Executive Officer Professor Zita Mohd Fahml (second from the right in the picture). We explained the details of Joint Research Project-7 and its schedule, exchanged opinions on on-site interview in Malaysia, and asked for MQA support for research survey of Joint Research Project-7. Since 8 major universities in Malaysia are ABEST21 members who will be involved in this research survey, we will share the survey results with MQA. 9. International Symposium 2013 On March 9, ABEST21 International Symposium for 2012 academic year on Educational Quality Assurance and Accreditation System was held at the International Conference Hall of Aoyama Gakuin University. The symposium was chaired by Dr. Popy Rufaidah (Universitas Padjadjaran, Indonesia), with opening remarks given by Mr. Ken-ichi Semba, President of Aoyama Gakuin University, Fumio Itoh, President of ABEST21, and Ilker Baybars, Vice President of ABEST21 (Carnegie Mellon University). Keynote speech was given by Mr. Kazunobu Asada (Director, Higher Education Policy Planning Division, Higher Education Bureau, MEXT) based on the material University Education Quality Assurance and Higher Education Policy on various measures for global development of higher education in Japan. Accepting foreign students from universities in ASEAN region was strongly requested. Special speech was given by Mr. Takeshi Hibiya (Full-time Corporate Auditor, Fuji Xerox Co., Ltd.) on CSR and Fuji Xerox based on the material CSR Management at Fuji Xerox and Future Management (in the 21 st Century). Another special speech was given by Dean Dato Mohamed Mustafa Ishak (Universiti Utara Malaysia, Malaysia) on Situation of Higher Education in Malaysia. In the School Presentation session, the Deans of the two business schools introduced their respective MBA programs: Dean Dr. Izani Ibrahim (Graduate School of Business, Universiti Kebangsaan Malaysia, Malaysia) Dean Dr. Wisnu Untoro (Faculty of Economics, Universitas Sebelas Maret, Indonesia). In panel discussion, country-specific reports on the Asian accreditation system for business administration field currently developed by ABEST21 as Project 7 were presented, followed by Q&A session with the participants. 31

Chair: Dr. Ruslan Prijadi (Head of Department of Management, Universitas Indonesia, Indonesia) Panelists: Dr. Fumio Itoh (President, ABEST21) Dean Dr. Nury Effendi (Faculty of Economics and Business, Universitas Padjadjaran, Indonesia) Dean Dr. Ali Khatibi (Faculty of Business Management & Professional Studies, Management & Science University, Malaysia) Dean Dr. Sujinda Chemsripong (Faculty of Business, Economics and Communication, Naresuan University, Thailand). Venue Mr. Kazunobu Asada Mr. Takeshi Hibiya Dr. Dato Mohamed Mustafa Ishak 12. Local Conference Chiang Mai Conference 2013 Chiang Mai Conference 2013 was held from July 4 to 6 at Chiang Mai University, Thailand. Day 1 (Thursday, July 4): Welcome reception was held at night safari park hosted by Chiang Mai University. We observed closely the life of tropical nocturnal animals. Day 2 (Friday, July 5): Following the keynote speech, reports on CSR-Case Writing and Joint Research Project-7 Asia Business Accreditation System Model were given. Active discussions were made among 50 participants including deans of business schools in Asia. Keynote speech was given by Dr. Sooksan Kantabutra of Mahidol University on Philosophy of Sufficiency and Its Implications on Management Education, which introduced the Sufficiency Economy concept, referred to in the message of HM King Bhumibol Adulyadej of Thailand. As for Fuji Xerox CSR-Case Writing, research results were presented by the country representatives, Dr. Yuji 32

Maeda (Kwansei Gakuin University) of Japan, Dr. Azlan Amran (Universiti Sains Malaysia) of Malaysia, Warat Winit (Chiang Mai University) of Thailand, and Dr. Arief Daryanto (Bogor Agricultural University) of Indonesia. Presentation on Joint Research Project-7 was given by President Itoh with detailed explanation on Asia Business Accreditation System Model. The presentation was followed by the discussion and the group reports. The issues raised will be discussed by the committee by way of preparation for partial amendment of Accreditation Outline scheduled in 2014. Day 3 (Saturday, July 6): We attended the Witness Suthep Hill Trekking departure ceremony on the campus at 7:00 a.m., seeing off the new students wearing their departments colors. 13. Joint Conference Attending the APMMI Workshop On Saturday, June 22, APMMI (Asosiasi Program Magister Manajement Indonesia) Workshop was held at Universitas Bengkulu, located in Sumatra, Indonesia. APMMI is a solidarity body of Indonesian universities offering management program in their master s courses. The association is chaired by Professor Arief Daryanto (Director, Graduate Program of Management and Business, Bogor Agricultural University). In the Workshop, President Itoh of ABEST21 delivered a keynote speech on Quality Assurance of Graduate Business Education in a Globalized World: The Role of ABEST21, followed by Dr. Illah Sallah (Director of Academic and Student Affairs for Higher Education) on Accreditation and Quality Assurance in MM/MBA Programs: The Role of Independent and Autonomous National Accrediting Body. In the session on International Accreditation and Quality Assurance in Practices, Dr. Tengku Ezni Balqiah (Universitas Indonesia) reported on ABEST21 project research. Since APMMI plans to establish an accrediting institution, ABEST21 is ready to support APMMI by sharing quality enhancement efforts for business schools in Indonesia. 14. Management Seminar 1) ABEST21 Global Knowledge Network Management Seminar 33

The Management Seminar was held by ABEST21 Network Division on November 8, 2013, at Toshiba Education and Training Institute. We invited Mr. Kazuhito Endo, Senior Advisor, Global HR Development Department, Human Resources & General Affairs Division, ITOCHU Corporation, to give lecture on Global Talent Enhancement ITOCHU s Case. ITOCHU Corporation was established in 1858 by Chubei Itoh. The Company now has approximately 130 bases in 66 countries, approximately 4200 employees, with capital stock of 202.2 billion yen. As one of the leading sogo shosha, ITOCHU is engaged in domestic and overseas trading of various products such as textile, machinery, metals, minerals, energy, chemicals, food, information and communications technology, realty, general products, insurance, logistics services, construction, and finance. Its total sales for the 1st and 2nd quarter for 2013 marked 2,592.6 billion yen. The seminar was a great opportunity to learn about the human resources development program of the Company. 2) The 1st ABEST21-QMC Seminar On Thursday, December 5, 2013 at Minami Aoyama Kaikan, the 1st ABEST21-QMC Seminar was held with the theme University Reform in Urgent Need: How to Enhance Educational Ability. Keynote speech was given by Mr. Takafumi Goda (ABEST21-QMC Advisor, former Director-General, Lifelong Learning Policy Bureau, Ministry of Education, Culture, Sports, Science and Technology). He referred to the essence of ideal reform and mentioned that in the past there have been two opportunities for university reform, and now is the third opportunity. Then special speech was given by President Atsushi Hamana (Kansai University of International Studies) on Direction of University Reform and Assessment, discussing the practice of active learning. Another special speech was given by President Hiroyuki Sumiyoshi (Matsumoto University) on creating a university as a Regional (intellectual) Hub based on induction approach. Both speeches introduced new methods for university reform aiming at enhancement of educational ability. The 2nd ABEST21-QMC Seminar will focus on Globalization of University Reform and Educational Research Environment with keynote and special speeches on this theme. It is planned that the special speech will refer to the case of Maebashi Kyoai Gakuen College, which was selected as one of the Global Human Resources Development Projects 2012 by MEXT. 15. The Council for Human Resources Development The 23 rd meeting The meeting was held on Friday, May 17, 2013 at Minami Aoyama Kaikan. The meeting started with election of the President due to the expiration of the term, and President Itoh was re-elected. Then Dean Yoshihiro Tokuga of the Graduate School of Management, Kyoto University, provided a report on industry-academia partnership at Kyoto University Business School, as a second case report for Industry-academia relationship in business school education, followed by an active Q&A 34

session. Finally, Mr. Kotaro Takahashi, Promotion Unit Chief, Office for Professional Graduate School, Technical Education Division, Higher Education Bureau, MEXT, provided explanation on The Concept of Future University Education draft of Third Phase Proposal Outline by the Education Rebuilding Council based on the materials. The 24th Meeting The Council meeting was held on Friday, September 13, 2013 at Minami Aoyama Kaikan. First, the President explained based on materials the change of board members and draft of Council Rules amendment. New board members were ratified (see below). Amendment of Rules will be discussed in the following meeting in November. Secondly, Dean Ken Kaminishi of Graduate School of Innovation and Technology Management (MOT), Yamaguchi University reported on the School s project - the third case research in the Third Phase Report Industry-academia relationship in management education. MOT of Yamaguchi University was established in 2005 as a professional graduate school of technology management, with the educational philosophy to nurture personnel with systematic knowledge and practical skills to continually create innovation. Classes are given mainly on Saturdays for working students at three campuses in the cities of Ube, Hiroshima and Fukuoka. The report presented practical solutions developed to enhance the industry-academia relationship. Then Mr. Akihiro Sato, Deputy Director, Technical Education Division, Higher Education Bureau, MEXT reported on Graduate school for adult relearning based on materials. The Council will next meet on Friday, November 29, 2013, from 14:00 to 16:00 at Minami Aoyama Kaikan. Report on the fourth case research on Industry-academia relationship in management education is scheduled. Board members of the Council for Human Resources Development for Term 3 (April 1, 2013 to March 31, 2015) President: Fumio Itoh (ABEST21) Vice President: Toshihiko Shiraki (Nanzan University) Vice President: Youichi Furuno (Recruit Management Solutions Co., Ltd.) Director: Yoshihiro Tokuga (Kyoto University) Director: R. Taggart Murphy (University of Tsukuba) Director: Narihiko Uemura (Sony Corporation) Director: Kazutaka Yoshimura (Toyota Motor Corporation) Auditor: Takeshi Hibiya (Fuji Xerox Co., Ltd) Auditor: Tatsuyuki Negoro (Waseda University) The 25th meeting The Meeting was held on November 29 at Minami Aoyama Kaikan. The first agenda was partial amendment of the Council Rules, which was ratified. Then Professor Toshihiko Shiraki, Dean of Graduate School of Business Administration, Nanzan University, provided an intriguing report on Case Project 4, which deals with the new product development project based on 35

industry-academia cooperation among Nanzan Business School, Pokka Corporation, and Chubu-Nippon Broadcasting Co., Ltd. 36

VIII. Research Services 1. Joint Research Projects 1) Projects 1- Establishment of International Peer Review System in Asia In order to establish a peer review system to guarantee the quality of management education offered by business schools in Asia, on-site surveys were conducted in Asian countries on management education system and quality guarantee system. (2007 academic year) 2) Project 2- Developing International Peer Review System Model in Asia Peer review cases of business schools in Asia were accumulated. Based on comparison of these cases peer review model suitable for various types of education system was developed. (2008 academic year) 3) Project 3- Corporate Needs for MBA Education ABEST 21 conducted a research on corporate expectation on business school education as a joint international project supported by Ministry of Education, Culture, Sports, Science and Technology (MEXT). This was done as a part of strategy for collection of data for diversity, collaboration and development of international model of evaluation systems. This was conducted to acquire necessary data to improve the quality of business school education thorough questionnaire to 7 schools on what is expected of business school education from company s prospective in each countries. The seven schools are Tsukuba University, Japan, Seoul National University, Korea, Moscow State University, Russia, Fudan University, China, Management & Science University, Malaysia, Tecnlogico de Monterrey, Mexico. The result of this research was published from Moscow University under the title of Improving Quality of Management Education (not on sale). 4) Project 4- Competencies of Management Professionals The survey on management competencies was done with the participation of 13 business schools from 8 Asian countries. On July 2 and 3, 2010, final presentations on management competencies survey were given at the Conference held at S.P. Jain School of Global Management in Singapore. Survey was conducted on competencies of management professionals nurtured at business schools in Asia. The result was published under the title Competencies of Management Professionals (ISBN 978-4-905204-00-8). (2010 academic year) 5) Project 5- Developing Asian MBA Curriculum Based on the result of Joint Research Project 4, a survey was conducted on the ways of developing MBA curriculum which fosters the competencies of management professionals at business schools. 37

Joint Research Project-5 was conducted with participation of 14 universities from 10 Asian countries. The results of the research were published on February 28 under the title of "Enhancing the Quality of Business Management Education in a Globalized World" (ISBN 978-4-905204-01-5, not for sale).the results of, with members of the Research Project-5 are as below. (2011 academic year) Chair: Professor Ming Yu Cheng (University of Tunku Abdul Rahman University, Malaysia) Members: Associate Professor Siriwut Buranapin (Chiang Mai University, Thailand) Professor Hong Joo Jung (Sungkyunkwan University, Korea) Associate Professor Amir Mahmood (Newcastle University, Australia) Professor Ruslan Prijadi (University of Indonesia, Indonesia) Professor Qinhai Ma (Northeastern University, China) 6) Project 6- Business Management Case Writing The main purpose of the Joint Research Project 6 is to develop teaching materials to be used by ABEST21 member schools. To realize this goal, we decided to work on structuring of Proactive Knowledge Sharing Platform for business school education and deepening of Academic-Industry Collaboration. Joint Research Project-6 Case Writing started with CSR, supported by Fuji Xerox Co., Ltd. The Case Writing project focuses on CSR issues that Fuji Xerox and its subsidiaries face in Japan, Thailand, Malaysia and Indonesia, where cultural, social and economic backgrounds vary. The 1st Country Chair meeting for Research Project-6 was held at Management & Science University on December 13, 2012. The meeting was chaired by Coordinator Dean Siriwut Buranapin, who provided explanation about the research method and schedule for Business Management Case Writing. The meeting was attended by the following members. Senior Manager-Marketing, Mr. Tetsuri Yamaguchi (Fuji Xerox Asia Pacific Pte Ltd) Senior Quality Executive, Mr. Marcellinus Bin Frederick Lamhai (Fuji Xerox Asia Pacific Pte Ltd) CEO & President Fumio Itoh (ABEST21) Executive Secretary Professor Ming Yu Cheng (Universiti Tunku Abdul Rahman) Senior Lecturer Hen Kai Wah (Universiti Tunku Abdul Rahman) Coordinator Dean Siriwut Buranapin (Chiang Mai University) Malaysia Team Chair Professor Azlan Amra (Universiti Sains Malaysia) Indonesia Team Chair Director Arief Daryanto (Bogor Agricultural University) Japan Team Chair Associate Professor Yuji Maeda (Kwansei Gakuin University) 38

7) Project 7- Developing ASEAN Quality Assurance System Model Research Project 7 is implemented as a part of the Research Project for Overseas Development of Sectoral University Assessment under the Advanced University Reform Promotion Project in 2012 by MEXT. The project conducts a survey on quality assurance system of higher education in ASEAN countries in particular, aiming to develop our accreditation activities in Asia. ABEST21 teams in Japan, Thailand, Malaysia and Indonesia respectively conducts a research on education quality assurance system. Educational quality assurance is a prerequisite for business schools to promote industry-academia collaboration and cooperation among universities, for globalization of management education and establishment of consortium. To meet the needs of the economic globalization age, we believe it is necessary to conduct a research on advanced education quality assurance/accreditation system in Asia and develop a model for the assessment system. The 1st Country Chair meeting for Research Project-7 was held at Management & Science University on December 12, 2012. At the 1 st meeting, President of ABEST21 explained the contents of Research Project-7 in detail, followed by exchange of various opinions. The 1 st meeting was attended by the following members. Fumio Itoh (CEO & President, ABEST21) Professor Ming Yu Cheng (Executive Secretary /Universiti Tunku Abdul Rahman) Senior Lecturer Hen Kai Wah (Universiti Tunku Abdul Rahman) Malaysia Team Chair Dean Ali Khatibi (Management & Science University) Indonesia Team Chair Dean Nury Effendi (Universitas Padjadjaran) Thailand Team Chair Sujinda Chemsripong (Naresuen University) 8) Advanced University Reform Promotion Project by MEXT ABEST21 submitted a bid for the public tender for Research Project for Overseas Development of Sectoral University Assessment, a research theme under the Advanced University Reform Promotion Project by MEXT. The tender was opened on July 24 and the technical proposal submitted by ABEST21 was successfully accepted. In the proposal ABEST21 suggests to promote international development in accreditation for business schools which aim to nurture management professionals in Asia. Specific steps are 1Conduct research study and demonstration analysis of educational quality guarantee/assessment system at business schools in ASEAN countries, especially Indonesia and Malaysia, 2 Compare the guarantee/assessment system of Japan, Thailand, Indonesia and Malaysia based on the results of demonstration analysis, and 3Develop a model of quality guarantee/assessment system for business school accreditation which corresponds to the cultural diversity among ASEAN countries. 39

IX. Publications 1. Improving Quality of Management Education ABEST 21 has been asked by Japanese Department of Education and Science ( MEXT) to run a research on corporate expectation on business school education as a joint international project. This was done as a part of strategy for collection of data for diversity, collaboration and development of international model of evaluation systems (130 million yen budget project) This was conducted to acquire necessary data to improve the quality of business school education thorough questionnaire to seven schools on what is expected of business school education from company s prospective in each countries. The seven schools are Tsukuba University, Japan, Seoul National University, Korea, Moscow State University, Russia, Fudan University, China, Management & Science University, Malaysia, Tecnlogico de Monterrey, Mexico. The result of this research was published from Moscow University under the title of Improving Quality of Management Education (ISBN 978-5-903148-31-3). We also hosted a study group on topic of international comparison of corporate demands on management education. (2009 academic year) 2. Competencies of Management Professionals The results of the survey on Competencies of Management Professionals was published by ABEST21 in October 2010. The survey on management competencies was done with the participation of 13 business schools representing 8 Asian countries. The respondents - MBA students, MBA holders and company personnel managers - were asked what competencies are required for management professionals, and the gap analysis on their expectations and the actual state of competency levels was conducted. All statistical analyses were entrusted to The Institute of Statistical Mathematics, Research Organization of Information and System, an Inter-University Research Institute Corporation of Japan. The publication covers overall analysis of the survey results as well as country-specific analyses. (ISBN978-4-905204-00-8) 40

3. "Enhancing the Quality of Business Management Education in a Globalized World" Since last year ABEST21 international Joint Research Project-5 on Asian MBA Curriculum Development was conducted with participation of 14 universities from 10 Asian countries. The results of the research were published on February 28 under the title of "Enhancing the Quality of Business Management Education in a Globalized World" (ISBN 978-4-905204-01-5, not for sale). The reseach focuses on "corproate needs for business education", "competencies required for management professionals" based on the needs, and extends to "curriculum development for Asian MBA". We believe that this research will contribute to promotion of exchange among Asian universities. For details please contact ABEST21 Office. 3. Aiming to Nurture Management Professionals- Second Phase Report On October 26, 2012, President Itoh visited Mr. Kazunobu Asada, Director, Higher Education Policy Planning Division, Higher Education Bureau, MEXT, and also visited Ms. Kumiko Bando, Director-General of the Higher Education Bureau on December 5, and submitted Aiming to Nurture Management Professionals - Second Phase Report. In explaining the present situation and future development of business schools in Japan, we emphasized the need to examine the system for professional graduate school for business administration, as well as the need to discuss issues including degrees, professionally qualified faculty members, placement of DBA programs, faculty personnel expenses, etc. We pointed out that Establishment Standard for Professional Graduate School may need to be revised from an international perspective, to develop the professional graduate school system aiming to nurture world-class management professionals, which is especially urgent in Asia. 41

ABEST21 ANNUAL REPORT 2013 ABEST21 THE ALLIANCE ON BUSINESS EDUCATION AND SCHOLARSHIP FOR TOMORROW a 21 st century organization 5-4-29Minami-Aoyama, Minato-ku, Tokyo 107-0062, JAPAN TEL.:03-3498-6220 / FAX:03-3498-6221 http://www.abest21.org CABEST21 All Rights Reserved 42