AACSB founded initially as the Association of Collegiate Schools of Business (ACSB); constitution is adopted June 17, 1916. Founding members include the following: Columbia University • Cornell University • Dartmouth College • Harvard University • New York University • Northwestern University • Ohio State University • Tulane University • University of California, Berkeley • University of Chicago • University of Illinois • University of Nebraska • University of Pennsylvania • University of Pittsburgh • University of Texas • University of Wisconsin–Madison • Yale University.
Association postpones all activities due to U.S. involvement in World War I.
At annual meeting, membership decides executive committee should encourage separate teacher associations to join AACSB.
At annual meeting, membership discusses whether meetings should remain more of a "deans' conference" or should be open to teaching staffs. They resolve that a winter meeting will be held in addition to a spring meeting, and winter meetings will be open to include instructional staffs.
AACSB's Committee on Standardization of Degrees thinks it unwise for the association to change educational programs of member schools but specifies five types of programs in existence in order to guide schools setting up collegiate business programs in the future:
The Executive Committee encourages the development of one honor society formed from two—Beta Gamma Sigma and Gamma Epsilon Pi—that will admit both men and women.
The association approves changes to section 5 of standards for school admission to AACSB, to require at least three instructors of full professorial rank to give full-time instruction in business or economics courses. The change was made to prevent schools from counting professors in other departments among their numbers.
At annual meetings, some members argued that too much emphasis in business schools was placed on research, rather than teaching, for the purpose of determining salary increases and promotions. Members also noted a lack of good teachers who were also good researchers and that better methods were needed to allow instructors to do both research and excellent teaching.
(milestone 9 of 20)
John D. Rockefeller, founder of the Standard Oil Company, becomes the world's first billionaire.
First non-stop flight across the Atlantic Ocean is flown by British aviators, Captain John Alcock and Lieutenant Arthur Whitten Brown.
New York's WEAF broadcasts the first radio ad.
New York Stock Exchange Crash occurs, prompts U.S. Great Depression.
International Financial Crisis begins.
(milestone 9 of 20)
Harvard establishes the Harvard Business School Bureau of Business Research, which undertakes organized research in the field of business administration.
Harvard Business School introduces the "case method."
Centre de Perfectionnement aux Affaires (CPA) opens in Paris, curriculum is modeled after the case-study approach used at Harvard Business School, and is aimed at experienced managers and engineers.
First woman is inducted into Beta Gamma Sigma. Until then, Gamma Epsilon Pi had served as the scholastic honor society for women. Women who were members of Gamma Epsilon Pi prior to 1933 were retroactively admitted into Beta Gamma Sigma in 1933.
Benjamin Graham and David Dodd of Columbia Business School publish Security Analysis, which helped lay the foundation for what would later be called value investing.
Delta Pi Epsilon founded by New York University to serve as national graduate honorary society for those involved in business education.
(milestone 9 of 20)