EFMD, our 2014 Annual Conference partner, has launched a new option
for business schools to better understand their impact on their community in a
multitude of ways. As our CEO Guy
Pfeffermann said in his post about his resolution for 2014, research
into the impact of management education, and the schools that provide it, is a
much neglected and highly critical area of research. We’re encouraged by the attention being paid
to the impact of business schools and look forward to a better understanding in
the education, civil society, government and business sectors of the importance
of these institutions for the betterment of their communities.
Info from EFMD on the Business School Impact Survey:
The BSIS scheme is designed to determine the extent and nature
of a Business School’s Impact upon its local environment - the city or region
in which it is located. The BSIS scheme
identifies the tangible and intangible benefits that a Business School brings
to its local environment in the pursuit of its educational activities. The
School spends money in the impact zone; it purchases goods and services, it
provides jobs and pays salaries that are partially spent in the zone. It
attracts students from outside the zone who also spend money for board and
lodging and for their current service needs.
Beyond the purely financial impact
that the School has upon the economic life of the local environment and that
can be measured or quantitatively estimated, there are numerous ways in which
it contributes to the economic and cultural life of the community. Its faculty
generate new business creation through entrepreneurial projects and support
local business needs through professional training and managerial development.
Its students are a source of dynamism in the life of the region and are a
valuable talent resource when they graduate. Through its research agenda and
the many events that it organizes each year the School provides an important
intellectual forum for the introduction of new ideas in a wide variety of
crucial areas of concern not just to business but also to all the political and
social organizations within the region. Last but not least, the School
contributes to some degree to the image of the city or region.
What does the survey measure?
The heart of the BSIS measurement process is a framework
of around 120 indicators covering three dimensions:
Financial and Economic Impact
statistical data regarding money spent by the School, salaries paid, student
expenditures, number of new business start-ups, etc.
impact both direct (budget) & indirect
impact (missions of the students, business creation)
Impact on the Community
upon the managerial community within the zone through the intellectual output
of the School’s faculty and through executive education
to the intellectual life of the community at large through conferences, public
of the faculty and students in public life within the community
of new ideas, new managerial methods.
School's role in raising ethical awareness of global responsibility to society.
Attractiveness & Image impact
of the Business School to the attractiveness of the impact zone and its image.
How does it work in practice?
business school has applied to enter the BSIS process
the first stage is to define the impact zone for the analysis. The next stage
is the data collection process during which the school works closely with
the BSIS experts to prepare
the documentation required before the on-site visit.
heart of the BSIS process is
a two-day on-site visit during which the team of experts interviews a carefully
selected group of key players within the school and a range of external
stakeholders. These meetings are the occasion to confront internal perceptions
regarding the school’s impact and external expectations. Measuring the gap
between the two is a significant outcome of the process. Following the on-site
visit the BSIS experts draft
a report setting out the findings related to the assessment framework, the
school’s own input and the input from the interviews. The report will highlight
areas in which the school’s impact is strong while also drawing attention to
the areas in which it remains limited.
For more information about BSIS, go to www.efmd.org/index.php/business-schools/bsis
schools wishing to inquire about participation in the BSIS process should email
stating their interest.