A More Targeted Approach to Societal Impact

• When business schools spread resources too thinly, they can struggle to demonstrate clear societal impact or link their activities directly to their missions.
• For that reason, Institut Mines-Télécom Business School turned to two existing frameworks for guidance, before shifting its strategy from focusing on all 17 of the United Nations Sustainable Development Goals to concentrating on two: SDG 4 and SDG 9.
• As part of its new societal impact strategy, the school has strengthened its partnerships, enhanced its apprenticeship program, placed greater emphasis on digital innovation, and created a dashboard to track its progress.

 
Many business schools view achieving societal impact as a comprehensive and wide-ranging endeavor. Because faculty and students have the capacity to positively affect their communities across multiple dimensions, it can be easy for schools to focus their efforts on multiple issues and global challenges.

But schools that spread their resources too thinly might struggle to demonstrate clear impact in any one area or track outcomes over time. Moreover, they might also find it challenging to link their activities directly to their missions for the purposes of accreditation.

Several years ago, administrators and faculty at Institut Mines-Télécom Business School (IMT-BS), located near Paris, realized their societal impact strategy was based on broad, slightly unfocused initiatives. In 2022, the school embarked on a significant transformation journey. This journey included the creation of its new IMPACT 2027 strategic plan, which emphasizes a more targeted approach to societal impact based on the United Nations Sustainable Development Goals (SDGs).

The case study below explores how IMT-BS overhauled its approach to societal impact under its new dean, Herbert Castéran (a co-author of this article). As a result, the school has set the stage for achieving more strategic, measurable, and mission-driven societal impact outcomes.

Inspired by Two Frameworks

Before beginning this process, administrators at IMT-BS chose two existing sets of benchmarks to guide the school’s strategic shift:

AACSB’s Standard 9. Under this section of the AACSB Business Accreditation Standards, schools must demonstrate how they achieve positive impact on society in ways that align with their missions and strategic objectives. Schools also must document and report how they integrate societal impact into their strategies, curricula, research, and community engagements, often through partnerships with external organizations.

As IMT-BS crafted its strategic plan, the school received critical guidance from its peer review team. Members of the PRT knew the school’s ecosystem well and had faced similar challenges. They especially pressed the importance of focusing on some SDGs, not all.

The Times Higher Education (THE) Impact Rankings. This framework assesses universities based on their contributions to SDG 17 (“Partnership for the Goals”) and three other SDGs of their choosing. Schools submit data based on metrics and evidence-based policies that focus on research, stewardship, outreach, and teaching. The THE’s rankings helped IMT-BS move toward achieving focused, measurable, holistic, and strategy-driven impact.

In addition to using these frameworks as reference points, the school consulted extensively with faculty, students, alumni, partners, and government bodies. This inclusive approach ensured that the plan would address all stakeholders’ needs and align with the school's mission. Input from faculty and industry partners helped administrators and faculty link educational programs to market needs and integrate digital technologies into the curriculum.

The goal of the management team was to ensure that every adjustment it made was strategic, measurable, and focused on areas that would enhance the school’s societal impact.

Released in December 2023, IMPACT 2027 focuses on three thematic areas:

• Enhancing the school’s research capabilities and transforming its educational programs.
• Expanding its executive education programs and increasing its international presence.
• Adapting to digital transformation and the growing demand for digital skills.

With these goals in mind, the school’s management team then undertook a systematic approach to tracking its activities in alignment with AACSB Standard 9 and the THE Impact Rankings.

First, the school thoroughly reviewed its existing programs, research, and community engagements. This process involved mapping current activities against the requirements of both frameworks, while noting how each initiative aligned with the SDGs.

Next, IMT-BS compared these activities to the benchmarks set by AACSB Standard 9 and the THE rankings, identifying gaps and areas of improvement. Finally, the school implemented a detailed online spreadsheet, which the management team used to track progress related to specific key performance indicators (KPIs) and to ensure that all actions were in line with the IMPACT 2027 goals.

At all points of the process, the goal of the team was to ensure that every adjustment it made was strategic, measurable, and focused on areas that would enhance the school’s societal impact.

Transitioning to a Focused Strategy

This in-depth examination revealed several areas where the school could improve. Initially, for example, IMT-BS referenced all 17 UN-SDGs in its societal impact plan. Guided by the PRT’s input and Standard 9, the school began to monitor its societal impact and measure its progress toward each goal. The objective was not only to see how each activity aligned with the mission, but also to evaluate whether the activity’s contributions to the mission were focused and measurable.

Administrators and faculty determined that IMT-BS should focus its societal impact strategy on two SDGs: 4 and 9. SDG 4 was selected because of the school’s commitment to providing inclusive and equitable quality education. SDG 9 was chosen because innovation, particularly in digital intelligence, is a key area of expertise for the school’s faculty.

The school now plans to dedicate resources to three activities under each goal:

Several other SDGs, such as gender equality (SDG 5), remain an important part of the school’s activities. However, as part of its more focused strategic approach, IMT-BS does not emphasize its efforts in those areas for the purposes of Standard 9, instead highlighting criteria that provide long-term strategic value aligned closely with its mission and goals.

Making Four Strategic Shifts

Overall, the requirements of Standard 9 and the THE Impact Rankings inspired the school to change its societal impact approach in four significant ways:

It has become more mission- and market-driven. In addition to focusing its initiatives on SDGs that align with its strengths and objectives, IMT-BS also is more deliberately linking its research and educational offerings with modern pedagogical approaches and market demands.

It has strengthened its strategic partnerships. IMT-BS is expanding its international collaborations and double degree programs with partners that specifically support sustainability and corporate social responsibility initiatives that align with the SDGs.

It has expanded its apprenticeship program. By collaborating with companies that prioritize digital transformation and sustainable business practices, the school has increased the number of apprenticeships available to students and has more effectively integrated these apprenticeships into its curriculum. The school now tracks specific KPIs related to the impact of these apprenticeships on student outcomes and societal contributions.

It monitors and reports its progress. The school now regularly benchmarks its societal contributions against global standards, reviews its progress through a management dashboard, and adapts its plans as necessary.

Both Standard 9 and the impact rankings have highlighted areas for improvement for the school, guiding its future strategic decisions and underscoring its commitment to societal impact.

So far, these efforts have shaped the academic and professional journeys of the school’s alumni, several of whom have set up successful companies designed to promote social innovation and create social impact. These companies include, for example, Meetmymama, a catering business that offers training opportunities that empower women to pursue entrepreneurship. 

Educational institutions can achieve and sustain excellence, as well as make more impactful societal contributions, through focused strategic planning and dedicated execution.

In addition, IMT-BS alums have answered calls from the European Union government, as well as France 2030, an initiative that has set aside 54 billion EUR (more than 60 billion USD) to invest in impactful research. Over the last two years, the school has seen a 100 percent increase in funding from the European Union to support research focused on sustainability and societal impact.

The results so far have validated the school’s more focused approach. These outcomes also have signaled clearly to stakeholders that IMT-BS is dedicated to quality education and innovation.

Investing Resources More Intentionally

Because IMPACT 2027 sets clear priorities for the school’s allocation of resources, IMT-BS has been able to implement a comprehensive strategy for managing its financial and human resources. The school now prioritizes investment in two areas:

Digital infrastructure. This includes investment in new enterprise research planning (ERP) software to manage the digitalization of processes across the campus and better integrate digital tools into teaching and learning. The school is currently working through technical issues to ensure the platform meets quality standards before its implementation.

Faculty development. The school has allocated significant resources to hiring research-focused faculty, as well as to providing faculty with training in digital technologies, sustainable practices, and new pedagogical approaches.

The school will continue to adjust its faculty development programs to better align with the evolving needs of the digital curriculum—including increasing support for faculty research in digital and sustainable practices.

Continuing the Journey

IMT-BS has implemented several essential initiatives under its IMPACT 2027 strategic plan, each with specific milestones and KPIs. These initiatives have included supporting the digital transformation of educational programs, expanding executive education, and increasing internationalization efforts.

Two such milestones include plans to deploy the new education ERP software mentioned above and introduce new master’s programs in innovation—including the school’s recent addition of a new master’s major in Innovation Design and Engaged Entrepreneurship. Through the new KPIs, the school will measure increases in research output and growth in the number of international partnerships. It also will track the impact of its apprenticeships.

IMT-BS also has enhanced its educational offerings with new digital tools and pedagogical methods to ensure students can access high-quality education regardless of location. Additionally, the school’s “Tuesdays on Campus” lecture series has played a key role in promoting innovative thinking and sustainable practices among students and within the broader community.

With its new plan in place, IMT-BS will continue to monitor its progress, adjust its strategies, and set ambitious goals for future societal impact. The evolution and dedicated execution of the IMPACT 2027 plan demonstrates how educational institutions can achieve and sustain excellence, as well as make more impactful societal contributions, through focused strategic planning and dedicated execution.

The school’s experience underscores the critical role of focused strategic planning, especially when it comes to achieving true societal impact. It serves as a model for other educational institutions that would like to transform their impact strategies, ensure their initiatives have measurable outcomes, and drive more meaningful change in society.