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This paper aims to describe an internal quality enhancement system based on peer reviewing and summarizes the first results of application at the Budapest University of Technology and Economics Faculty of Economic and Social Sciences.

A peer review framework has been developed to evaluate and further develop the teaching programs and practices. The questionnaire-based peer review program included 22 courses and involved almost 100 lecturers. Peer review outcomes are completed by end-of-semester student course evaluations.

The results allow us to map differences between lecturers and courses and to identify correlations between the assessment criteria applied for peer reviewing.

The implemented framework implies individual, faculty and organizational development to enhance a deeper understanding of how to create quality in teaching programs and processes. Secondly, the peer review program contributes to the establishment of a learning community with a growing common understanding of what is considered good quality in business education.

The paper is valuable as a guide to faculty management wishing to implement a peer review framework within their own institution. The novelty of the presented approach is that it focuses on a semester-long teaching performance including classroom performance, course outlines, teaching materials, course requirements and processes and means of student performance assessments.

The Department of Management and Corporate Economics as the flagship of teaching and researching quality management at the Budapest University of Technology and Economics has conducted an extended survey among students in five different business courses in order to get deeper knowledge about the factors influencing student (dis)satisfaction. The papers aims to discuss this.

Initially students were asked to fill out a course evaluation questionnaire of 11 questions. After processing the questionnaires, problem solving techniques with strong student involvement were applied in order to lay the foundation for long‐term course improvement actions. The main objective was to identify the factors that were given the greatest importance by the students, but where the performance of the course was low in order to reveal the potentials of development.

Improving student satisfaction is a must at all courses as the financial issues of the faculty and the department are strongly affected by students' course ratings. By extending the application of this type of course, evaluation to faculty and university level would be a step forward regarding the development of satisfaction questionnaire in use at this moment.

This kind of questionnaire structure and the validation of the presented dual approach would not only highlight the areas needing to be developed, but also student deliverance could have more aspects.