The Positive Impact Rating 2023 Report entitled “Accelerating the societal impact of business school” was launched at the UN PRME Global Forum. The societal impact levels of 69 business schools from 25 countries were announced by Prof Thomas Dyllick of the Positive Impact Rating Association and Lauriane Dietrichs, Vice-President of oikos International.

Overview and summary

The Positive Impact Rating (PIR) is a rating conducted by students and for students. For the fourth time, students worldwide assessed their business schools on how they perceive their positive impact on the world. The positive impact of business schools goes beyond their contribution to business and the economy; it addresses the need for a positive societal impact.

“One of the most promising insights from the PIR is that schools from the developing economies are performing significantly better than the schools from developed economies. It is promising, as this result might strengthen the discussion on Business Schools in the Global South and their contribution to Sustainable Development.”

Urs Jäger, Prof. at INCAE Business School, Costa-Rica, Executive Director, Viva Idea, and Member of the PIR Advisory Board

In this fourth edition of the PIR, business schools from the developing economies perform better than their peers in the developed economies. This is a trend we have been seeing for some years already. Seven schools reach the highest level 5 as “Pioneering Schools”, six come from Asia, one from South America. Five schools are in India and include Goa Institute of Management, IIM Bangalore, S. P. Jain Institute of Management & Research, Woxsen University School of Business, and XLRI Xavier School of Management. One school comes from Hong Kong, China – HKUST Business School – and one from Peru – CENTRUM PUCP. The two latter schools have accomplished a jump from Level 4 to Level 5, a significant achievement.

The data collection was organized by student associations, which distributed surveys across campuses. The PIR gives the students a platform to assess the positive impact of their schools, providing a unique opportunity for their voice to be heard. The PIR is the only rating worldwide in which students assess their business schools on their positive impact.

The PIR was created by concerned business school experts together with global NGOs – WWF, Oxfam, and UN Global Compact. The PIR partners with international student associations – oikos International, AIESEC, Net Impact, SOS UK, Studenten vor Morgen NL – it collaborates with the Global Business School Network (GBSN) and the Principles for Responsible Management Education (PRME), and it is supported by VIVA Idea (Costa Rica), and The Institute for Business Sustainability Foundation (Switzerland).

Accelerating the societal impact of business schools

The fourth edition of the Positive Impact Rating (PIR) appears at a time when societal impact and purpose have become the new focus not only for business, but also for business schools. This reflects in many developments in education, research, school governance, and management. Most importantly, EQUIS and AACSB, the two leading international business school accreditation systems, have recently integrated societal impact and sustainability into their respective demands for accrediting business schools. EQUIS demands that schools should have a clear understanding of their role as a “globally responsible organization” which is to be reflected in the school’s mission, strategy, and activities. AACSB spells out its vision that “business education is a force for good in society” and that all accredited schools are expected “to make a positive contribution to society”. Their respective demands are very clear: “The school demonstrates positive societal impact through internal and external initiatives and/or activities, consistent with the school’s mission, strategies, and expected outcomes.”

The new focus on impact and purpose for business schools and the revised accreditation standards have changed the demands on management education. Business schools are called to define a clear impact focus to pursue. They must define goals, strategies, and programs to achieve the goals. Finally, they must measure their progress, and make sure, they remain flexible and adaptive to improve their impact continuously.

In this, the PIR supports the schools in three different ways:

• It measures the societal impact of business schools, as seen through the eyes of their students, animportant but much neglected stakeholder of business schools.
• It clarifies what students want from their schools and provides a basis for collaboration betweenstudents and school management.
• And it provides living examples from other schools, how they have managed to accelerate theirsocietal impact.

“It is great to see how students actively take part in transforming their business schools. They are key stakeholders of our future, and their voice is of crucial importance for curriculum change.”

Carolin Lemke, Vice-President of oikos International and PIR Supervisory Board member

The schools were ranked according to five levels, with 5 being the top level and 1 the lowest:

Level 1 *  Beginning efforts at schools that are either getting started or are considering to get started or have difficulties getting off the ground despite a stated commitment or vision

Level 2 **  Emerging schools starting to translate a stated commitment to positive action in one or more domains

Level 3 ***  Progressing schools demonstrating evidence of results across some impact dimensions

Level 4 ****  Transforming schools with a positive impact culture, embedded in governance and systems, with visible results progress in many impact dimensions

Level 5 *****  Pioneering schools with unique, sustaining global leadership progress in all impact dimensions

The Top Schools in 2023

Download the list of the 69 schools here

LEVEL 5 – PIONEERING SCHOOLS

• CENTRUM PUCP Business School, Peru
• Goa Institute of Management, India
• HKUST Business School, Hong Kong, China
• IIM Bangalore, India
• S. P. Jain Institute of Management & Research, India
• Woxsen University School of Business, India
• XLRI Xavier School of Management, India

LEVEL 4 – TRANSFORMING SCHOOLS

• Aalto University School of Business, Finland
• Antwerp Management School, Belgium
• Audencia Business School, France
• BSB Burgundy School of Business, France
• Colorado State University College of Business, USA
• Drake University – Zimpleman College of Business, USA
• Drexel University LeBow College of Business, USA
• EADA Business School, Spain
• EAE Business School, Spain
• ESADE Business School, Spain
• Excelia Business School, France
• Fairleigh Dickinson University Silberman College, USA
• Fordham University Gabelli School of Business, USA
• GIBS Gordon Institute of Business Science, South Africa
• Glasgow Caledonian University Glasgow School for Business and Society, UK
• Gordon S. Lang School of Business and Economics, Canada
• Grenoble Ecole de Management, France
• IESEG School of Management, France
• IIM Indore, India
• IMC University of Applied Sciences Krems, Austria 
• Imperial College Business School, UK
• INCAE Business School, Costa Rica
• IPADE Business School, Mexico
• Iscte Business School, Portugal
• ISEG Lisbon School of Economics & Management, Portugal
• Kozminski University, Poland
• Monash Business School, Australia
• Nova School of Business and Economics, Portugal
• Rennes School of Business, France
• Saint Joseph’s University Haub School of Business, USA
• Sobey School of Business Saint Mary’s University, Canada
• Sprott School of Business, Canada
• Strathmore University Business School, Kenya
• University of Exeter Business School, UK
• University of St Andrews, UK
• University of Vermont Grossman School of Business, USA
• UPF Barcelona School of Management, Spain
• Wits Business School, South Africa
• XJTLU International Business School Suzhou, China

LEVEL 3 – PROGRESSING SCHOOLS

• Amsterdam School of International Business, Netherlands
• BI Norwegian Business School, Norway
• Concordia U John Molson School of Business, Canada
• Rowe School of Business Dalhousie University, Canada
• EDHEC Business School, France
• EHL Hospitality Business School, Switzerland
• HHL Leipzig Graduate School of Management, Germany
• Jyväskylä U School of Business and Economics, Finland
• KEDGE Business School, France
• Leeds School of Business U of Colorado Boulder, USA
• Luiss Business School, Italy
• Maastricht U School of Business and Econ., Netherlands
• Montpellier Business School, France
• Newcastle Business School, UK
• Sasin School of Management, Thailand
• SGH Warsaw School of Economics, Poland
• Universal Business School, India
• University of Economics and Human Sciences Warsaw, Poland
• University of Gothenburg School of Business, Econ. and Law, Sweden
• University Namur Faculty of Ec., Social Sc. and Business Adm., Belgium
• University of Turku School of Economics, Finland
• Wroclaw University of Economics and Business, Poland
• ZHAW School of Management and Law, Switzerland