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EFMD Releases Business School Impact Survey

Posted By Administration, Thursday, February 20, 2014

EFMDEFMD, 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

  • Quantifiable statistical data regarding money spent by the School, salaries paid, student expenditures, number of new business start-ups, etc.
  • Financial impact both direct (budget) & indirect
  • Economic impact (missions of the students, business creation)

Impact on the Community

  • Impact upon the managerial community within the zone through the intellectual output of the School’s faculty and through executive education
  • Contribution to the intellectual life of the community at large through conferences, public lectures, etc.
  • Involvement of the faculty and students in public life within the community
  • Dissemination of new ideas, new managerial methods.
  • The School's role in raising ethical awareness of global responsibility to society.

Attractiveness & Image impact

  • Contribution of the Business School to the attractiveness of the impact zone and its image.

How does it work in practice?

Once a 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.

At the 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. Business schools wishing to inquire about participation in the BSIS process should email bsis@efmd.org stating their interest.

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