The AACSB 2020 business standards update provides a "principle-based" approach to the continuous improvement process for a business school. This approach provides great flexibility for business schools to define faculty sufficiency and maintenance of faculty qualifications in a way that is congruent with their mission and expectations for faculty performance. In the following discussion, we dispel the folklore associated with faculty sufficiency and qualifications (Standard 3). Moreover, we provide a step-by-step process to guide business school administrators in maximizing guideline ratios related to the standard. Finally, examples are provided to illustrate specific strategies for navigating the standard.