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Appreciating the continuous efforts of the Faculty of Engineering Economics and Management (FEEM) of Riga Technical University (RTU) to raise the quality of higher education, build the business ecosystem and enhance it in the region and beyond, the Baltic Management Development Association recognizes it for significant impact in the Baltic Sea region and highly appreciates the faculty’s achievements.
The award was given at the annual conference of the Baltic Management Development Association (BMDA), which gathered more than 100 participants from 14 countries.
FEEM is the largest faculty of RTU, where more than 3,500 students obtain higher education in various fields of management, administration, economy, security, technology, systems and industry management. The study programs implemented in the faculty are directly oriented towards achieving Latvia’s sustainability goals, they promote full commercialization of engineering inventions and innovations created by other RTU faculties, which is essential for the development of innovation, production and industrial economics in Latvia.
The faculty is represented in the world’s largest innovation and technology networks, it participates in the work of various professional associations. During the last two years, the faculty’s administration and academic staff have been involved in the development of more than 20 professional standards and professional qualification requirements, as well as have participated in significant processes related to the improvement of the quality of education both at the national and international level.
Its goal is excellence in the study process, research, organizational management and creating the academic environment. By ensuring the quality of research and study programs and compliance with labour market requirements, the faculty has established successful long-term cooperation with companies, industry associations and state organizations, as well as multilateral cooperation with foreign universities and international institutions, such as the European Foundation for Management Development (EFMD), Global Business Development Network (BUSINET), Education Quality Accreditation Agency (EQUAA), Conference of European Schools for Advanced Engineering Education and Research (CESAER), International Association for Management Development in Dynamic Societies (CEEMAN), World Customs Organization, etc. The wide cooperation network ensures that every year FEEM hosts more than 120 visiting lecturers from companies of various industries, while students go on internships every year: more than 300 companies participate in the process.
The faculty has been highly evaluated internationally, which is confirmed by various ratings. FEEM is included in the prestigious four-palm league of the world’s best business schools ranking «Eduniversal Business Schools Ranking», which denotes a particularly high level of academic institution, excellent quality and strong international impact in business and management education. The international competitiveness of education and the high evaluation by employers is also confirmed by the fact that all master’s degree programs offered by the faculty are included in the world TOP, and the faculty is recognized as the most prestigious business education institution in Latvia. In 2020, it was recognized as the most innovative faculty in the Baltics.
BMDA was founded in 2002 at the initiative of several Baltic universities, business schools, professors and business professionals to establish a regional business management development network. The association currently brings together 70 members from 25 countries around the world, providing an opportunity for partners to share experience and adopt the best practices among universities and business schools of the Baltic region and the world.