BSIS Benefits
What is BSIS?
The Business School Impact System (BSIS) is the first comprehensive impact assessment tool for business schools, covering more than 130 indicators across seven dimensions of impact. It provides a tailor-made data collection system for monitoring, assessing, and developing the impact of business schools. The BSIS process involves the definition of the impact zone and institutional scope, data collection, impact assessment, and the report with recommendations for future development. Demonstrating the school's impact on internal and external stakeholders, the system serves as a communication and negotiation tool externally and fosters an impact culture within the school. Schools that undergo BSIS are awarded the BSIS label for a three-year period.
What are the benefits of obtaining the BSIS label for business schools?
The EFMD BSIS label demonstrates that a business school places great importance on its local, regional and global impact. The system offers several key advantages, including:
Impact Assessment
BSIS provides a comprehensive and customisable system for assessing an institution's impact, allowing it to gather relevant data and information efficiently. This enables a school to clearly demonstrate the outcomes and effectiveness of its initiatives to both internal stakeholders, such as faculty and staff, and external stakeholders, such as funding bodies and community partners.
Negotiation Tool
With BSIS, an institution possesses a powerful tool to engage in negotiations with regional authorities and other external stakeholders. By showcasing tangible evidence of the school's contributions and benefits to the community, it can strengthen its position in negotiations, leading to more favourable outcomes and partnerships that support its overarching mission and goals.
Powerful Influencer
By leveraging BSIS, an institution has a potent means of communicating its value and impact to various audiences, including students, strategic partners, and the media. By effectively highlighting the school's positive outcomes and societal contributions, it can shape perceptions, build credibility, and foster stronger relationships with key stakeholders, ultimately enhancing its reputation and influence.
Impact Culture
BSIS fosters a culture of impact awareness within a business school by emphasising the importance of measuring and understanding the outcomes of its activities. By engaging in the impact assessment process, faculty, staff, and students gain a deeper appreciation for the significance of their work, leading to a more purpose-driven and socially responsible organisational culture.
Internal Recognition
Through BSIS, teams gain clearer insights into the value and purpose of their roles within the institution. By better understanding how their efforts contribute to the school's overall impact, employees feel a greater sense of recognition and fulfilment in their work, leading to increased motivation, productivity, and job satisfaction.
Continuous Improvement
BSIS facilitates continuous improvement by providing expert recommendations and insights derived from the impact assessment process. By regularly evaluating an institution's impact and implementing suggested improvements, it can enhance the effectiveness and efficiency of its initiatives, ensuring that the school remains responsive to evolving challenges and opportunities in a dynamic environment.
Why is the EFMD BSIS label beneficial to a business school’s students and alumni?
The EFMD BSIS label offers significant benefits to current and prospective students and alumni who choose a specific business school to attend, including:
Strengthened Reputation and Influence
A business school that obtains the BSIS label has enhanced its reputation and influence by highlighting its tangible contributions to the local environment. Through the assessment process, the school can showcase its positive outcomes and societal contributions, positioning itself as a valuable partner for regional development initiatives and attracting students and alumni who value socially responsible education.
Fostering Ethical and Responsible Management Education
The BSIS label underscores a school's commitment to positive impact. By engaging in the BSIS assessment process, schools are challenged to demonstrate their contributions to the improvement of management education and practice, thereby addressing wider societal concerns about the impact of management education on global responsibility and ethical leadership.
Empowering Students and Alumni
Students of a business school with the EFMD BSIS label benefit from a more enriched educational experience that emphasises real-world impact and community engagement. They become part of a learning environment that prioritises accountability and transparency, empowering them to contribute meaningfully to society and pursue careers aligned with their values and ethical principles.
Networking and Partnership Opportunities
The EFMD BSIS label exposes students to additional networking and partnership opportunities, as the school's demonstrated impact and reputation attract collaborations with local organisations, businesses, and community groups. This provides students with valuable experiential learning opportunities, internships, and potential career pathways that are rooted in making a positive difference in the communities they serve.
Continuous Improvement and Innovation
Pursuing the EFMD BSIS process ensures continuous improvement and innovation within a business school, benefiting students and alumni through an ongoing internal reflection and evaluation of its impact on the local environment. By identifying areas for enhancement and implementing recommendations from BSIS experts, the school can continually monitor and adapt its strategies and initiatives to better serve the needs and expectations of the community and its students, ensuring its relevance and effectiveness in a dynamic socio-economic landscape.