Higher educational (HE) institutions have always been considered as a major building block for the progress and prosperity of modern societies. Quality HE institutions are perceived to behave in a socially responsible manner and to build knowledgeable and ethical societies that confront the challenges of the future. Today, these institutions are faced with several challenges, such as the ... [Show full abstract] increasing number of universities to accommodate market requirements, commercialization, and financial restrictions; to list a few, that affect the quality of education, and the universities’ responsibilities towards society. Thus, to sustain their competitiveness among rivals, these institutions are sensitive to external assessment criteria of worth (certification, accreditation, etc.) which grant them legitimacy (Meyer and Rowan, 1983). The Association to Advance Collegiate Schools of Business (AACSB) is one of the reputable accreditation bodies for business schools fulfilling this role in the higher education sector in general and business schools in particular. It ensures legitimacy and help business schools to fulfil their primary role properly and ensure sustainable development of the whole community (Dzięgiel & Wojciechowska 2016). However, a consequence of such accreditation trend leads to the creation of isomorphism (DiMaggio and Powell, 1983) and homogeneity in business schools that could impact the sought legitimacy on the long run. The purpose of this paper is to investigation of the influence of the accreditation path towards legitimacy, inducing a double-edge end between isomorphism and social responsibility in higher education. A qualitative method is used to analyze the AACSB accreditation process in three Lebanese business schools aiming at revealing a new role of CSR in this process. The proposed method is validated, research questions were answered, implications were discussed, and recommendations for future research were presented.