Demand for business management education programmes has grown
exponentially. With a desire to tap the huge market potential quickly, management
institutes most often ignore the quality aspect. At present quality in higher
professional management education is facing numerous challenges which can
be attributed to the intense competition at all levels in the delivery of higher
management education and also to the increase in the expectation levels among
the key stakeholders namely the students, their parents, institute itself, corporates
and social environment. Managing expectation of various stakeholders still
remains a challenge and a key area of concern. Going by the international trends
India will be moving towards an era where accreditation from independent
agencies will be mandatory with the introduction of the National Accreditation
Regulatory Authority for Higher Educational Institutions Bill. This research paper
attempts to present the theoretical framework and concepts involving challenges
in managing the key stakeholders’ expectations and also the role accreditation
process plays in managing the expectations and quality in higher management
educational delivery with reference to India