Two Indian Business schools, Indian Institute of Management (IIM) Bangalore and XLRI- Xavier School of Management, have been featured in the first edition of Positive Impact Rating 2020, launched today at the World Economic Forum in Davos. The two Indian Business schools have been listed along with top management institutes in the likes of London Business School (UK), Esade Business School (Spain), Eada Business School Barcelona (Spain) and Edhec Business School (France).
IIM Bangalore has been featured in the level 4 (Transforming schools) while XLRI found its place in level 3 (Progressing schools) of the rating.
The purpose of this Positive Impact Rating 2020 is to measure how business schools contribute to solving societal challenges by energizing the school and its culture, by educating current and future leaders, by providing relevant research results and offers for continuing education, by participating in the public debate and by being a role model institution.
In this first edition of the Positive Impact Rating, which is, according to the officials, a new rating conducted by students and for students, it sets out to learn from a varied set of top schools around the world. The Positive Impact Rating features 30 leading schools that have performed well in this student rating.
For this, international student organizations reached out to students at the top 50 schools in the Financial Times Masters in Management 2018 ranking (FT) and the top 50 school in the Corporate Knights Green MBA ranking (CK).
51 business schools participated in the rating.
While no school made the top level 5, nine schools are featured in level 4. These "transforming schools" show a positive impact culture, embedded in governance and systems, with visible results in a number of impact dimensions.
A further 21 schools feature in level 3. These "progressing schools" show results across some impact dimensions. In the spirit of reinforcing good practice, the rating does not feature schools that were rated below level 3.
The nine transforming schools at level 4 are rated significantly better in the impact dimensions governance (23% higher) and culture (18% higher) than the rest of the schools, showing the importance of these dimensions in the change process.
Among the 51 participating schools, 26 appear in the FT and 19 in the CK rankings. Among the leading 30 schools, there are 13 FT and 11 CK schools. It is interesting to note that there are no top 25 FT schools among the level 4 schools, while level 4 includes three top 10 CK schools. The FT and CK rankings measure quality differently, with the "green" CK ranking a notch closer to measuring impact.
The Positive Impact Rating was initiated in 2017 by a large global group of academics and institutional leaders from the management education field (GRLI, PRME, HESI, GBSN) with the intention to support fundamental change in the business school sector with regards to the schools' societal responsibility and impact.
Its activities are endorsed and supported by WWF Switzerland (Environment), OXFAM (Society), Global Compact Switzerland (Business) and it is operated in close collaboration with student organizations - Oikos International, Net Impact, AIESEC, SOS UK, StudentenvoorMorgen.
"We are happy to see that XLRI has featured in the list of 30 leading Global Business Schools in the First Edition of Positive Impact Report 2020. This PIR rating would inspire us to work more diligently towards attaining our Vision and Mission. The millennial B-School students have clearly expressed their views on the importance of Positive Impact on society at large. This benign realization marks a paradigm shift and would foster a collaborative ecosystem and make the process of management education more meaningful and purpose-oriented," Fr. P. Christie S.J., Director, XLRI - Xavier School of Management commented on the achievement.
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