Global business accreditors and leaders of recognized business schools in Latin America and the Caribbean have expressed concern about the absence of a capable workforce. In February of 2014, the researcher invited two of the most accepted global business accreditors in America--the Accreditation Council for Business Schools and Programs (ACBSP) and the Association to Advance Collegiate Schools of Business (AACSB)--to participate in the study. The purpose of this qualitative descriptive case study was to understand and analyze the significance for business schools and their stakeholders in Latin American countries to obtain and maintain a global business accreditation, as well as to learn about obstacles they have to overcome and what strategies they must meet to fulfill the accrediting body's standards and criteria of leadership. Findings showed that in Peru, business school stakeholders believe recognized global business accreditations are significant to competitiveness in a global market. Academic excellence and quality education appear to be related to student and employer retention, performance, and global competitiveness. In Peru, the most significant barrier to organizational culture was related to personnel resistance to change and a lack of resources for educational training of the faculty to achieve academic excellence. Further studies should include more than one global accredited business school, more than one international business accrediting body, and more than one recognized university that is not accredited by any global accrediting body. Finally, global business accrediting bodies should incentivize more studies related to the phenomenon in Latin America. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]