The London School of Business and Finance (informally LSBF) is a private business school based in London, United Kingdom. It offers Master's degree programmes in management, finance and marketing; bachelor degrees; executive and corporate training; and professional qualification training for the ACCA, CFA, CIM and CIMA qualifications. LSBF's programmes are currently validated by partner institutions including the University of Bradford, the University of Central Lancashire, Grenoble Graduate School of Business and London Metropolitan University.
LSBF is based in Holborn, with two campuses in central London. In addition the school has campuses in Manchester and Birmingham, United Kingdom; Toronto, Canada; and Singapore. LSBF's teaching and education philosophy is based on offering students the opportunity to pursue both an academic degree and a professional qualification simultaneously.
History
The London School of Business and Finance was founded by Aaron Etingen in 2003. It began as a provider of accountancy and finance programmes and training for professional qualifications such as ACCA and CIMA, later expanding to provide undergraduate and postgraduate degrees in partnership with other higher education institutions.
LSBF opened its first campus outside of the UK in Toronto, Canada, in February 2011. In June 2011, LSBF opened an institute in Singapore, the first Asia-Pacific campus of a UK-based business school. At both international campuses, the school provides accounting programmes and professional qualification training.
In October 2011, the British television channel BBC Three featured the LSBF School of English in a documentary about a group of young immigrants who went to the UK to realise their professional ambitions. One of the students was an LSBF student who enrolled for an English course to be prepared for an important job interview.
In December 2011, the comedian Jo Brand interviewed a group of LSBF business students at the LSBF's London campus as part of a programme which was broadcast on BBC4 in February 2012.
The school also has a partnership with the India-based education provider CL Educate.
In 2012, LSBF formed a partnership with London Metropolitan University, as part of which a suite of new London Metropolitan University-validated undergraduate, postgraduate and professional programmes will be delivered by LSBF at its UK campuses, for both UK and international students.
In August 2012 after a visit from the concerns team LSBF faced wide ranging criticism from the Quality Assurance Agency for Higher Education over its academic standards and quality of delivery. The report referred to a disputed agreement between the LSBF Group and the University of Wales, which has now ended.
Academics
Programmes
LSBF collaborates with Grenoble Graduate School of Business to provide two year Master’s degree programmes including MBA, MSc in Finance, and Master of International Business (MIB) and MSc Fashion and Luxury Management in addition to one undergraduate degree, the Bachelor in International Business. The school also provides dual MBA programs, which combine an MBA degree with another program, such as ACCA, CFA or CIMA.
In partnership with the London Metropolitan University, LSBF offers a range of undergraduate, postgraduate and professional programmes, including MBA Global, MSc Finance & Investment, BSc Business Management and Diplomas in Accounting & Finance and Strategic & Financial Management.
With the University Of Central Lancashire (UCLAN), LSBF delivers a range of undergraduate programmes including Bachelors in Business Administration, Bachelors in Accounting & Financial Studies and LLB Law.
LSBF offers an LLM in International Business Law in association with Bradford University.
LSBF is also certified by the ACCA for tuition for the Diploma in Financial Management
Online programmes
LSBF delivers a wide range of programmes through the e-learning platform InterActive. This includes MBA, MSc in Finance, MSc in Marketing, ACCA, CIMA, CFA and a range of over 20 online Postgraduate Certificates. Through InterActive, students have access to online classrooms, discussion forums and a range of resources including live and recorded video lectures, 24-hour technical support service, online library and Harvard Business School 'Case in Point' publications to support their learning activities.
In 2010 LSBF developed two applications using the social media platform Facebook: The LSBF Prep Centre for ACCA, a comprehensive study resource for students of ACCA, and the LSBF Global MBA, the world's first Master’s degree that is delivered entirely on Facebook, in a ‘try before you buy’ manner. Both applications offer study material that is available for all to view, free of charge.
Students of the LSBF Global MBA have an additional option to opt in for evaluation and pay for their qualification.
Scholarships and bursaries
LSBF's patron, Prince Michael of Kent, sponsors a scholarship scheme at the LSBF for students from emerging markets countries. LSBF's other scholarship programmes include a Corporate scholarship, with a focus on connecting students directly with corporate employers via the LSBF Corporate Division, and The Women in Business Scholarship, intended to help more females to become corporate leaders. There are also scholarships sponsored by LSBF's Principal and Vice Rector.
LSBF offers bursaries to Singaporean students who have completed the ACCA to pursue Master's degrees online, or in the UK.
QAA assessment
LSBF were visited by the QAA as part of an investigation into ultimately well-founded concerns about the poor standards and quality of higher education offered at LSBF. The report was released to the public on 9 August 2012. The investigating team found that a partnership between LSBF and the University of Wales had recruited more students than its resource base justified, placing an intolerable burden on physical and human resources. The report stated that LSBF had recruited students to pathways which were not validated (no award would be received from the University) despite advertising these courses as validated. They also expressed deep concerns over the technical and English language competence of some staff, a lack of transparency over bottom-line fees, alleged misinformation over visa working restrictions, confusion over the availability of some pathways, the non-availability of some textbooks, and the limited usefulness of the evaluation and representative systems. It went on to state that a number of weaknesses were attributable to a range of factors including institutional immaturity and an inadequate understanding of the expectations of a higher education provider in the UK. It found that in one intake 54% of the students had complained about the poor quality of LSBF education. Furthermore, it stated that the admissions process (largely devolved to FBT/LSBF from the University) was insufficiently closely managed, and led to the acceptance of many inappropriate students. It concluded that more recently LSBF had put in place measures to strengthen its quality management arrangements, but nonetheless requested it to report within 6 weeks an action plan to address the issues. In reference to the QAA report in 2012 the Times Higher Education reported that "Watchdog sniffs out business school failures". The article relates to the Birmingham-based Finance Business Training, which is jointly run with the London School of Business and Finance (LSBF), accepted "many inappropriate students" and at one point had a student complaint rate of 54 per cent, the agency found during an investigation between January and April. The report says that there have been "significant improvements" in a number of areas, including teaching quality. However, claims that the problems had been "decisively corrected" understate "the nature and extent of the challenges". The two colleges have the same principal and academic framework, and began validation agreements with London Metropolitan University in April after the Wales partnership ended in November 2011. LSBF's new academic partner London Metropolitan Universities tier 4 sponsor license was suspended in July 2012. London Met said that it had been aware of a "range of concerns" at the institutions when it announced a "large-scale" validation scheme in April, and that it was working to ensure compliance with the QAA. LSBF are not a degree awarding power and therefore rely on UK Universites to validate and award their qualifications.