In the evolving landscape of business education, the Positive Impact Rating (PIR) seeks to redefine how we evaluate business schools and reshape their role in society. Its ambition is for business schools to be recognised not just for their academic prowess, but also for their important societal contributions and to celebrate institutions that are making a real difference in the world.

Societal impact as a measure of success

At the core of PIR is a belief that societal impact should be an important measure of success. By shifting focus from rankings to ratings, PIR offers a more nuanced and comprehensive assessment. It also resonates with the increasing global call for ethical and responsible business practices.

Another key differentiator is PIR’s student-driven methodology. It assesses a business school through the eyes of those it impacts most directly – the students. Not only does this empower students but it also provides invaluable insights for a school’s continual improvement.

In addition to offering an innovative form of assessment, PIR aligns closely with global standards, such as those relating to the (PRM) and provides data designed to help schools meet their societal impact goals. For business schools that are interested in continual improvement, such as members of the Business Graduates Association (BGA), PIR offers a way to quantify progress on an annual basis and a vital tool for societal impact reporting.

The benefits of working with the PIR system

Participation in PIR can open up a myriad of opportunities for business schools. For example, as touched on above, the detailed feedback and data gained from PIR’s student-focused assessment is invaluable for identifying areas of strength and opportunities for development. Such insights can subsequently inform curricula review, ensuring that programmes are not only academically rigorous but also socially relevant. Ultimately, this helps ensure that graduates are well-equipped to tackle the challenges of the modern business world.

In addition, the involvement of students in the process contributes towards fostering a culture of engagement and empowerment. In particular, it encourages a sense of ownership and responsibility among students, shaping future leaders who are conscious of their societal impact.

Achieving a high PIR rating also stands to enhance a school’s reputation, distinguishing it as an institution that prioritises societal impact. Positive branding of this kind is crucial in today’s education market and facilitates the attraction of quality applicants and partnerships.

In short, the PIR allows business schools to not only join a global movement that is committed to providing business education that is synonymous with societal responsibility and progress, as well as ethical leadership, but also to reap tangible benefits that propel them towards excellence in all facets of their operations.

What do students think about your school’s societal impact?

Do you want to find out how your students perceive your school’s current impact orientation?  The 2024 PIR edition is happening right now and students can assess their schools until the end of March 2024. Register now so that we can help you set up a survey at your school. The process is straightforward and participation can significantly elevate your institution’s role in shaping a sustainable future. Join us in creating a world where educational institutions are celebrated for their positive impact on society.

Headline image credit: Crystal de Passillé-Chabot on Unsplash