1. Accreditation Review Result
ABEST21 International Accreditation Result of the Master of Business Administration Program,
Graduate School of Business and Finance, Waseda University, Tokyo, Japan is as follows:
“ABEST21 International certifies that the School’s educational and research activities satisfy all or most accreditation standards. The School’s Kaizen plans are excellent, and quality maintenance and improvement of education and research are very promising and excellent.
Accreditation commences April 1, 2025 for a five-year period.”
2. Comprehensive Review
The School’s commitment to delivering high-quality education and research outputs is highly commendable. The strong emphasis on industry relevance, international perspectives, and experienced faculty makes the School’s MBA programs unique.
To further enhance the PDCA cycle, the School should look into the process to establish a systematic approach of collecting regular feedback from key stakeholders, to ensure continuous alignment with evolving educational needs, changing internal and external environment and stakeholder expectations.
Zemi is widely recognized by staff, students, and alumni as a key strength of the MBA programs. However, its implementation lacks consistency, as it relies heavily on individual faculty members to design and deliver it. To provide all students with a consistent Zemi experience, the School should develop a standardized framework for its delivery across the programs. This framework should include assessment and feedback mechanisms, along with clear guidelines, allowing students to provide structured feedback that can be reviewed for continuous improvement.
In addition, the School should enhance how it measures and communicates the outcomes of its humanizing initiatives. By tracking and reporting measurable changes, the School can more effectively highlight the social impact and success of its ERS-driven efforts.
Given the increasing demand for executive programs and existing resource constraints, the School should develop a strategic approach to balance the expansion of executive education with maintaining the strength of its MBA programs. This strategy should ensure that increased focus on executive education does not compromise the quality, or resources dedicated to the MBA programs. The School could explore offering flexible, targeted learning opportunities for experienced professionals, such as micro-credential programs, to align with evolving industry needs and provide more specialized options for career advancement.
- The WBS MBA program is renowned for being highly competitive attracting top talent from around the world. What sets this program apart is its strong emphasis on industry relevance and global perspectives.
One of the most valuable aspects of the WBS program was the opportunity to learn directly from Industry relevant professors, CEOs and industry leaders through lectures, guest lectures, workshops, and networking events. This exposure not only provided insights into current industry trends but also allowed students to understand the intricacies of global business practices while respecting and incorporating local cultures.
The curriculum is designed to be driven by industry needs, ensuring that students graduate with practical skills and knowledge that are immediately applicable in the workplace. I have observed that the WBS’s commitment to providing world-class facilities and support systems further enhances the learning experience. From state-of-the-art classrooms to cutting-edge research resources, everything is tailored to meet the needs of ambitious professionals.
Overall, I can conclude WBS MBA program is a perfect blend of academic rigor, industry relevance, and global perspective. It equips students with the tools to succeed in a rapidly changing business environment while fostering a deep understanding of both global needs and Japanese cultures. - The Master of Business Administration, Graduate School of Business and Finance, Waseda University is a very good school. Focus on developing global leader, the school has a good reputation as one of the best school in Japan. This is shown in the management process, education system, quality of the faculty member and the students. All this also supported with a good infrastructure that is supported by the university. The support of university also very important as it provide WBS with some level of independency in managing the school.
However, there is always room for improvement to prepare WBS with future challenge. The mechanism of having international advisor board, WBS education committee and international accreditation has provide WBS with all the advice or suggestion.
Several important issues that need to be address by WBS are:- Program development
- Funding source
- Faculty and students’ quality improvement in the future.
- Increasing its engagement with the alumni
- Maintaining the network and relationship with industry.
The School’s Feedback:
Thank you for comments. The strength of WBS is based on a balance of diverse elements, and we would like to consider improvement measures with reference to the points raised above. In particular, we will promote the improvement loop based on feedback, with AoL at the center.
PRT Response:
No further comments.
3. Compatibility with the ABEST21 Standards
Chapter 1: Internal Quality Assurance and Management
- Standard 1: Academic Unit Management
- Standard 2: Governance System
- Standard 3: Self-Check/Self-Evaluation
- Standard 4: Staff-Development
The School operates a multi-layered decision-making system, supported by various committees and a well-structured governance system.
- Regarding the autonomy of the dean or senior management team in decision-making, it is essential to consider the governance structure of WBS. While autonomy can expedite decision-making processes, major strategic decisions may still require review and approval by higher levels of authority, depending on the institution’s policies and hierarchy.
- The school has a good internal quality assurance and management. Policy, standard, guideline and system is already in place, not only following the one from university level but also the one that developed by the school itself.
Issues to be improved:
- The composition, roles and responsibilities of the committees should be clearly defined. The relationship between the School and the Institute of Business and Finance should be explicitly outlined to develop clear lines of communication and accountability.
- The School should develop the mechanisms for systematically and periodically collecting feedback and input from key stakeholders.
- To enhance the effectiveness of the University’s job rotation system for administrative staff, the School may consider offering targeted training based on identified needs and improving communication with staff selected for rotation to ensure better preparedness and alignment with new job scopes.
- Typically, decisions of significant impact may need to be vetted through multiple levels to ensure alignment with the institution’s strategic goals and values. However, empowering the non-academic staff to contribute to innovation and some suggestions will help competitiveness, better services, maintain transparency, accountability, and a cohesive decision-making framework within the organization.
- The school has a good internal quality assurance and management. Policy, standard, guideline and system is already in place, not only following the one from university level but also the one that developed by the school itself.
The School’s Feedback:
We will have an opportunity to reconfirm the leaders of each committee and their roles.
The Business and Finance Center obtains feedback from companies and participants for each program, and this is reviewed at the monthly strategy meeting. This is a set process, and the improvement loop is also in operation, but we will continue to explore possibilities for making this process better.
PRT Response:
No further comments.
Chapter 2: Mission Statement
- Standard 5: Mission Statement
- Standard 6: Financial Strategies
The School’s mission statement aimed at creating a dynamic learning community and global leaders is aligned with the University’s vision.
- Fostering the character development of individuals within modern global and Japanese society is a core aim of students’ candidature at WBS. The mission statement is to not only provide a top-tier academic education but also to offer a diverse range of ideas that promote holistic growth.
- The school has a solid mission statement that is in line with the university mission. This mission and learning goals become the background of the graduate profile. The school has a good reputation that need to be supported so it will be sustain in the future with all environment dynamic.
Issues to be improved:
The School recognizes the need to secure sufficient resources to support the expansion and enhancement of its MBA programs. A targeted plan or strategy should be developed to address this priority.
- While ethics play a crucial role in the curriculum development process, it is essential to align this emphasis directly with the mission statement. Given that ethics are often linked with responsibility, a suggestion would be to explicitly integrate ethical principles and the concept of responsibility into the core values or mission statement of the institution.
The alignment of ethics and mission statement would reinforce the WBS’s commitment to ethical conduct and social responsibility, ensuring that these values are not only emphasized in the curriculum but also reflected in the organization’s overarching mission and vision. - The school can put the mission visible in the school for example put standing banner in several public area such as class room or hallway.
The school need to increase the performance of The Institute for Business and Finance as it will support the funding for WBS program that will not be covered by University budget.
With the School reputation, The IBF could seize the opportunity of expanding its market outside Japan. For the resources, The IBF can make a collaboration with alumni to be additional resources for executive education.
The School’s Feedback:
Thank you for your comments. As for the visibilities of the mission statement, it is written on the back side of each student’s name plate used in every class. Ethics are reflected in the phrase “Responsible Leader,” in it. We will continuously consider the definition of this.
We will improve the performance of the Business Finance Center to a reasonable extent.
PRT Response:
No further comments.
Chapter 3: Curriculum
- Standard 7: Learning Goals
- Standard 8: Curriculum Policy and Management of Curriculum
- Standard 9: Quality Improvement of Curriculum
- Standard 10: Online Education
- Standard 11: Diploma Policy and Learning Outcomes
- Standard 12: Globalization of Curriculum
The School offers a range of MBA programs that meet the needs of a diverse student population. However, managing these programs presents challenges in optimizing resource allocation and ensuring strategic alignment with the School’s long-term goals.
- The curriculum was designed with a focus on theories that align with industry requirements, business ethics, and efforts to humanize the learning experience.
- Regarding the plan to review the current program and curriculum structures, due to the complexity and limited resources, The School should thoroughly review the current program and curriculum structure.
As the school has two programs (full time MBA/International MBA and Part time MBA) the globalization of the curriculum will be an important issue.
Issues to be improved:
- The School should implement a systematic approach to regularly engage key stakeholders, particularly alumni and employers while creating an integrated platform that consolidates relevant information. This would streamline access, eliminate the need to navigate multiple websites and provide valuable insights to inform curriculum development.
- To further enhance the School’s globalization efforts, the School could consider incorporating more international case studies, facilitating joint discussions between local and international students, and inviting guest lecturers from diverse cultural and professional backgrounds.
- The School should explore the development of innovative programs, particularly online and blended learning options for MBA students, and closely monitor the effectiveness of the W-IOI learning method.
- Incorporating feedback from alumni who are leaders across diverse sectors is a valuable approach to curriculum development. Their insights and experiences can offer a unique perspective, ensuring that the curriculum remains relevant and responsive to the evolving needs of the industry.
By engaging with successful alumni, educational institutions can enrich their programs and better prepare students for the challenges of the professional world. - To decide what program and curriculum structure that can be simplified, the school should ask for advice from the WBS Faculty Committee, International Advisory Board and Alumni as they can provide insight on what will be the trend in the future and what kind of competency that important for future graduates.
In the issue of globalization of curriculum, having bilingual courses in both English and Japanese will be very difficult to manage by the faculty member. The school should consider only using English language to prepare Japanese students for English communication which will be important if they will be future global leaders.
The school can focus on online education for executive programs by developing a mixed method, such as several online sessions combined with offline sessions at the school.
The School’s Feedback:
Thank you for feedbacks. We will consider making greater use of alumni in improving the curriculum. We already have several alumni who are willing to cooperate, so we will start by making use of them. In addition, we recognize the importance of English communication. However, it is difficult to make all communication solely in English. This is particularly because many full-time students do not require communication in English.
PRT Response:
The School’s recognition of the importance of alumni engagement and English communication is commendable. Leveraging the expertise of alumni could enhance student learning and program development. To further support internationalization efforts, the School may also consider exploring ways to gradually expand communication in English.
Chapter 4: Students
- Standard 13: Admission Policy and Student Selection
- Standard 14: Student Encouragement and Support
- Standard 15: Student Body Diversity
The School has established a rigorous admission process to ensure qualified students are admitted to its programs. The supports provided to students are generally considered appropriate.
- Students appreciate the approachability of professors who are always willing to offer support and guidance, fostering a sense of belonging and community in the learning environment. Students also enjoy the flexibility of the ZEMI systems.
- The school has a good quality of students because the admission process and selection are very challenging. After that the school must provide more programs and activities that will improve their basic quality and become a better leader in the future.
Issues to be improved:
More opportunities should be provided for international and Japanese students to interact to enhance the educational experience for all students and better prepare them for a globalized world. In addition, there should be a systematic mechanism for students to receive regular feedback on their assessments. This would promote continuous improvement and support student development throughout their academic journey.
- Students require ongoing support and feedback on their tasks. However, assessing managerial competencies and decision-making can introduce complexities. Therefore, it is crucial for professors to establish platforms that facilitate feedback on students’ work, ensuring continuous support and guidance.
- A suggestion regarding the English proficiency requirement for Japanese students. If the goal is to develop insightful and responsible global leaders, then it is necessary for Japanese students to have minimum English proficiency. It does not have to be as fluent or high English proficiency level, as long as it can help the students to communicate and discuss better at the class with their fellow students.
The School’s Feedback:
Thank you for comments. From AY 2026, we will recommend applicants include their English proficiency test scores on the application form for all programs.
PRT Response:
No further comments.
Chapter 5: Faculty
- Standard 16: Faculty Structure
- Standard 17: Faculty Qualifications
- Standard 18: Maintenance of Education and Research Environment
- Standard 19: Faculty Development
- Standard 20: Faculty Diversity
The School provides a supportive educational and research environment for its faculty. While the School acknowledges the need to increase faculty diversity, specific plans to address this issue have yet to be clearly outlined.
- With a faculty composed of seasoned professionals from diverse industries, WBS stands out for its world-class MBA program that offers students unparalleled access to expert knowledge and industry best practices.
At WBS, students benefit from a faculty of distinguished professors who not only possess impressive industry credentials but also have a unique proposition to deliver a world-class MBA education that is relevant, innovative, and cutting-edge. - Number of faculty member is an important issue that have to be discuss by the school. At on point (stated in the document) the number of faculty member is considered sufficient, however there is an issue regarding the simplification of program and curriculum structure because of the number of faculty member considered not enough.
Issues to be improved:
There should be a mechanism for the faculty members to update their information timely, systematically and periodically. At the same time, the School should enhance its communication with faculty to increase awareness of the support provided by the University.
The need for faculty diversity should not be on increasing the number of international visiting faculty only, but also on including faculty from a broader range of diverse backgrounds.
- In the Japanese context, meeting the diverse backgrounds of professors in terms of age, gender, expertise, and nationality is a challenging task. Nevertheless, WBS must strategically plan and actively work towards achieving this diversity. It should be an integral part of the improvement plan for the institution.
- The school could try to find additional faculty members as it will deal with several issues such as providing resources to support the school program in having a flexible curriculum structure and diversity gap.
The School’s Feedback:
To gain a deeper understanding of each faculty member, we began conducting face-to-face interviews in 2024, in addition to the online data collection we have been doing so far. We plan to interview 20-30% of the faculty members each year.
PRT Response:
No further comments.
Chapter 6: Educational Infrastructure
- Standard 21: Maintenance of Educational Infrastructure
- Standard 22: Globalization of Educational Infrastructure
The School provides appropriate educational infrastructure that caters to the diverse needs of faculty and students from various cultural backgrounds, although limited space and facilities remain a significant challenge for the School.
- The state-of-the-art facilities at WBS are designed to meet global standards, providing a conducive environment for teaching, learning, and social activities.
- The school has a good educational infrastructure even though most of them are facilities provided by the university.
Issues to be improved:
The School should develop specific plans to address the limited space issue. For instance, to optimize current spaces and leverage technology to develop more flexible learning environments.
- WBS need to recognize the importance of providing diverse food options to meet the dietary needs of international students, offering a selection of Halal and global cuisines that align with the preferences of multicultural communities.
I would suggest the WBS ensure that all students have access to culturally diverse and nutritious meals around the classes, especially during evening classes. The WBS can consider having a café around the classes. - The school should consider to provide the educational infrastructure exclusively for the school (additional facilities than already provided by the school). It is understood that this will not be easy for the school, as it will take more investment and there is a university policy to provide centralize educational infrastructure. For example, the school could provide small room for praying room.
The School’s Feedback:
Thank you for your feedback. The student cafeteria provides very limited choices on Halal food, and there are multiple café and convenience stores on campus to provide students with different choices. There is still plenty of room for improvement, and the WBS will continue to coordinate with the university headquarter to provide a satisfactory environment for the students.
PRT Response:
Noted on the School’s effort to improve the learning environment for students. No further comments
4. Good Practice in the School’s Educational Programs
Title: “Zemi for Collaborative Learning and Professional Growth”
Reason: As a unique feature of the MBA programs at the School, Zemi fosters a collaborative learning environment where students gain deeper insights into academic and professional topics under the guidance of professors. Through small group discussions, students exchange ideas, perspectives, and insights with their professors and peers, forming lasting connections that often extend well beyond graduation. These relationships provide a valuable network for professional development and support.
5. Matters to be improved
The School should prioritize critical areas for improvement and develop a three-year action plan with specific timelines to address these issues. There is a need to look into the process of collecting regular feedback from key stakeholders, to ensure continuous improvement efforts can be sustained. In addition, to balance the need to strengthen executive education and complement it with its MBA programs is critical for maintaining the School’s competitiveness.
- An industry-immersive approach signals that the program is forward-thinking and adaptable to the changing demands of the business world, preparing students for success in dynamic industries. However, WBS need to consider the digital learning environment and blended learning to enrich the learning experiences.
MBA programs can be intense and demanding, leading to high levels of stress and pressure. Fostering a culture of well-being can help students manage stress, reduce burnout, and maintain good mental health throughout the program. WBS need to design such activities to assist the students in managing academic stress and pressure.
WBS need to prioritize student well-being and are likely to have alumni who feel a strong connection to their alma mater. Alumni who had a positive experience during their MBA program are more likely to stay engaged with the university, potentially leading to increased support and donations in the future. - How the school can increase its source of fund by increasing the number of executive programs especially using online learning and targeting market outside Japan.
The school could consider set up a minimum level English proficiency level for Japanese students Increasing the number of faculty member perhaps will not be a current issue, however in the future, this can be a challenging issue because it will relate with other issues such as providing resources (faculty member) for executive program and providing more program and flexible curriculum structure for students.
The School’s Feedback:
Thank you for thoughtful comments. The DX Committee is considering the use of digital technology, but we would also like to consider sharing best practices among teachers and examining new methodologies. One of the values of an MBA is that students learn how to manage their workload and time in their busy lives. On the other hand, the mental and physical health of students is also important. We will continue to discuss with students what kind of measures are appropriate. We will also continue to seek opportunities to expand our executive courses.
PRT Response:
The School’s commitment to leveraging digital technology and prioritizing student well-being is commendable. Keep up the good work.
6. Peer Review Schedule
ABEST21 assessed the School’s ABEST21 Management Accreditation by conducting substantial assessment on “Self-Check/Self-Evaluation Report (SCR)” by the Desk Review and the Peer Review Visit according to the Review Schedule below.
- Jun.30, 2023 : Acceptance of the “QIS”
- Sep.12, 2023 : Online Interview
- Nov.28-29, 2023 : Ratification of the “QIS” by the Peer Review Committee
- Jun.28, 2024 : Acceptance of the “SCR”
- Sep.18 and 19, 2024 : Peer Review Visit
- Oct.16, 2024 : Informal Announcement of the Draft of the PRT Review Report
- Oct.16-Nov.5, 2024 : Coordination of opinions between the PRT and the School
- Nov.27-28, 2024 : Ratification of the “PRT Review Report”
- Jan.14, 2025 : Recommendation of the Accreditation Committee
- Feb.26, 2025 : Ratification of the ABEST21 Accreditation by the Board of Trustees