From a vision that once seemed out of reach to today’s international recognition, the story of the Faculty of Business Administration and Accountancy at Khon Kaen University (KKBS) is not merely an organisational triumph. It is a true reflection of determination, vision, and the power of collaboration. This significant journey was commemorated at the “KKBS Global Journey Gratitude Night,” held in March 2026 at the KICE Convention Centre, Khon Kaen. The event served to reflect on the lessons learned from the accreditation process by the Association to Advance Collegiate Schools of Business (AACSB) and to express gratitude to all stakeholders who played a pivotal role in this achievement.
The atmosphere of the event radiated a spirit of collaboration among all involved parties. Key executives and network partners shared their perspectives on this success. Associate Professor Charnchai Panthongviriyakul, M.D., President of Khon Kaen University, extended his congratulations and emphasised the importance of elevating educational standards to an international level. He was joined by Associate Professor Pensri Jaroenwanit, Ph.D., Vice President for Student Affairs and Innovation Commercialization (former Dean of the Faculty of Business Administration and Accountancy from 2016–2020 and 2020–2024), who recounted the faculty’s journey toward international standards. Assistant Professor Pongsutti Phuensane, Ph.D., Dean of the Faculty of Business Administration and Accountancy, delivered the opening remarks and expressed his gratitude to all contributors. Mr. Watcharaphon Kamonnaruemeth, President of the Federation of Thai SME Associations, Region 5 (FA SME) and a faculty alumnus who was interviewed by the AACSB Peer Review Team, also shared his reflections and congratulated the faculty on its success.
Amidst an atmosphere of pride, the story of this journey to global standards was told through the perspectives of key figures from each stage. A particularly insightful account was shared by Associate Professor Pensri Jaroenwanit, who initiated and laid the crucial groundwork for the faculty’s pursuit of AACSB accreditation.
(Associate Professor Pensri Jaroenwanit, Ph.D., Vice President for Student Affairs and Innovation Commercialization and former Dean of the Faculty of Business Administration and Accountancy)
The Dawn of a Challenge: Aiming to Join the World’s Top 5%
The path to AACSB accreditation for KKBS did not begin with readiness but with limitations and a great distance from the required standards. Associate Professor Pensri Jaroenwanit recounted the early efforts to align the faculty, then known as the Faculty of Management Science, with AACSB standards. Under the leadership of then-Dean Associate Professor Mantana Samart, the faculty began sending staff for training on AACSB criteria. At that time, AACSB’s evaluation consisted of 21 standards, of which the faculty estimated it met only four or five. Furthermore, only 5% of business schools worldwide had achieved this accreditation, making the goal seem almost impossible.
However, a significant turning point came in 2016 when Associate Professor Jaroenwanit became Dean of the Faculty of Business Administration and Accountancy and decided to pursue accreditation earnestly. Inspired by leading institutions in Thailand, such as the Chiang Mai University Business School (CMUBS) and the College of Management, Mahidol University (CMMU), she was driven by the determination “not to remain in the 95% for the rest of my life.” Despite opposition from those who felt discouraged and viewed the goal as unrealistic for a regional university, a committee was established to comprehensively review the path to international standards. Ultimately, a resolution was passed to fully commit to pursuing AACSB accreditation.
A Path Not Strewn with Roses: Obstacles, Lessons, and Perseverance
Although the goal was clear, the journey to AACSB was fraught with formidable challenges. Associate Professor Jaroenwanit explained that one major obstacle was the faculty’s past history with AACSB. It had previously applied for membership but failed to maintain continuous progress, resulting in being blacklisted. This required extensive clarification and a firm commitment that such a lapse would not happen again. Additionally, submitting the Eligibility Application (EA) was a significant challenge, as the faculty had to clearly explain to AACSB why accreditation was sought only for the programmes within the Faculty of Business Administration and Accountancy, excluding business programmes from other departments at Khon Kaen University—a complex issue in terms of both administration and shared physical locations.
“Amidst these difficulties, the process was like planting a tree that takes at least seven years to grow and bear fruit. Although I was aware that I might not be Dean to witness the final success, the most important thing was that future generations of staff and students would stand on this achievement and reap the rewards that would blossom in the future,” said Associate Professor Jaroenwanit, reflecting on the long-term commitment required for the AACSB accreditation process.
(The AACSB Accreditation Process)
Systemic Transformation: From Adaptation to Innovation
Achieving AACSB standards was not about minor adjustments but a complete systemic overhaul. Associate Professor Jaroenwanit explained that the faculty focused on developing its human resources while transitioning from a paper-based system to a digital one. A key innovation was the creation of the Assurance of Learning (AoL) system to systematically track and evaluate student learning outcomes. The faculty collaborated with the Office of Academic Administration and Development at Khon Kaen University and a team of programmers to design and build the system from the ground up. This AoL system not only helped the faculty pass the evaluation but was also hailed as an “innovation,” receiving a 50-year copyright. It has since become a vital tool for driving the long-term quality of the faculty’s education.
(The original version of the Assurance of Learning (AoL) system)
(The current version of the Assurance of Learning (AoL) system)
In terms of academic output, the faculty realigned its scholarly contributions to meet AACSB criteria, prioritising Intellectual Contributions (IC) and publications in internationally recognised business journals, such as those ranked by ABS and ABDC, instead of general Scopus-indexed journals. This elevated the quality of research to international standards. Beyond academic enhancements, the faculty expanded its horizons through study visits and exchanges with international institutions, including Universiti Utara Malaysia (UUM), National Chung Hsing University in Taiwan, and Ritsumeikan Asia Pacific University (APU) in Japan. These institutions provided crucial guidance, ensuring the faculty’s development was systematic and aligned with global standards.
The Day Efforts Bloomed: Voices of Success and KKBS’s Future on the World Stage
After more than eight years of dedicated effort, the Faculty of Business Administration and Accountancy at Khon Kaen University saw its hard work come to fruition. In November 2025, the faculty officially received AACSB international accreditation, joining the ranks of the world’s leading business schools. It became the first institution in the northeastern region and the ninth in Thailand to achieve this prestigious global standard. Less than 6% of business schools across more than 70 countries have earned AACSB accreditation, which is regarded as the highest hallmark of educational quality worldwide.
(Associate Professor Charnchai Panthongviriyakul, M.D., President of Khon Kaen University)
This achievement was not only a major goal for the faculty but was also affirmed by key figures in the journey. Associate Professor Charnchai Panthongviriyakul, President of Khon Kaen University, stated, “The success of the Faculty of Business Administration and Accountancy is a source of shared pride for both the faculty and Khon Kaen University as a leading national institution. Achieving AACSB accreditation reflects a strong commitment to elevating educational quality to international excellence, as well as the dedication of faculty, staff, and all stakeholders who have worked tirelessly. This standard confirms that the education provided by the Faculty of Business Administration and Accountancy at Khon Kaen University is on par with leading global institutions. The university offers its full support to the faculty in maintaining this world-class standard to continue producing high-quality graduates for the domestic and international business industries.”
(Assistant Professor Pongsutti Phuensane, Ph.D., Dean of the Faculty of Business Administration and Accountancy)
Assistant Professor Pongsutti Phuensane, Dean of the Faculty of Business Administration and Accountancy, reflected on his role in continuing the work: “This success in achieving AACSB accreditation was not the result of short-term efforts but of the continuous foundation-laying that began in 2017 when I was Assistant Dean for Planning and Quality Development under the leadership of then-Dean Associate Professor Pensri Jaroenwanit. This achievement is the culmination of over eight years of collaboration and dedication from all personnel, which has proudly elevated our educational quality to a global standard. The faculty is committed to maintaining this standard and has developed long-term plans to become a Premier Business School on the international stage.”
(Mr. Watcharaphon Kamonnaruemeth, President of the Federation of Thai SME Associations, Region 5 (FA SME) and a faculty alumnus)
Meanwhile, the voice of the alumni network clearly underscored the value of this success. Mr. Watcharaphon Kamonnaruemeth, an alumnus who was interviewed by the AACSB Peer Review Team, commented, “I am immensely proud of the faculty’s achievement in receiving AACSB accreditation. This standard provides significant assurance to the business sector that KKBS graduates possess the capabilities to meet the demands of the modern business world. I am ready to support and collaborate with the faculty, both as an alumnus and as a representative of the private sector, to help drive its continued growth on the international stage.”
Amidst the reflections from all sectors, this success is not an end but another beginning on the path to the future. Looking back to the start of the journey, Associate Professor Jaroenwanit highlighted a meaning deeper than tangible success: the greatest source of pride is not just the international recognition, but the power of unity, determination, and collaboration among all personnel who laid the foundation, prioritised the interests of students, and continuously drove the faculty forward.
The success of KKBS has proven that even though the faculty and university are located in a developing country and a regional area, with vision, determination, and cooperation from all sectors, it is possible to elevate education to a world-class standard. KKBS is now poised to become a “Premier Business School,” creating sustainable value for society and the economy on an international level.
Article/Photos: Bawornphat Pila-pan Photos: Chakkaphan Wonphunga
