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Goa based Goa Institute of Management (GIM) was recognized for its social impact and sustainability achievements at the announcement made at the United Nations Principles for Responsible Management Education (UN-PRME) Global Forum held virtually from New York, USA.

The Positive Impact Rating (PIR) Report 2021 saw GIM emerge leaders and was one of 46 business schools from 21 countries worldwide that took part in the rating this year and achieved Level 5, making it a Pioneering school within the PIR. Only 04 B-schools globally made it to the top ranked ‘Pioneering’ list of which 03 hail from India.

The social impact levels of the 46 business schools were announced by Prof Thomas Dyllick of the Positive Impact Rating Association and Sophie Charrois, President of oikos International.

The Indian trio of Goa Institute of Management (GIM), S P Jain Institute of Management and Research (SPJIMR), XLRI – Xavier School of Management and the University of Business and Technology Kosovo all achieved the highest level of the PIR as “Pioneering Schools”. They did this thanks to innovative community-based actions, environmental and socially responsible culture and governance, and a strong teaching focus on responsible leadership.

The PIR is a rating conducted by students and for students. For the second time, students worldwide assessed their business schools on how they perceive their positive impact in the world.

Students assessed how GIM addresses societal and sustainable challenges and prepares its students to be responsible business leaders. The data collection in GIM was organized and led by students, who distributed the PIR survey across campus to their fellow students. This is the first time GIM participated and this year151 students from GIM responded to the survey. A student team comprising of Ashima Mathur, Ameya Ambike, Jessica Roy and Shivani Bhatia at GIM coordinated with PIR. Participating in the PIR demonstrates the value GIM gives to student feedback and voice.

Ajit Parulekar, Director, GIM said, “PIR rates B schools globally based on ‘Best For the World’ rather than on ‘Best in the World’. We at GIM are honored and delighted to be named among the top 04 B-schools globally in leading pioneering change in the prestigious Positive Impact Rating (PIR) Report 2021 which is looked up to by management institutes globally. GIM has always stayed consistent to its mission to nurture leaders for sustainable business of the future. Ethics, values and corporate governance has been at the core of our pedagogy. PIR is the voice of students around the globe and what is most satisfying for us is that our main stakeholders – our students have acknowledged institute commitment towards sustainability, responsibility and impact and encouraged us to design and execute more such initiatives for positive long-term impact in future”.

Professor Dyllick of the Positive Impact Rating Association said: “Business school rankings are often out of touch and distanced from sustainability issues. The PIR shows how student perspectives can shift the thinking of schools.”

The PIR is the first rating in which students worldwide assess their business schools on their positive impact. Sophie Charrois, President of oikos International and PIR Supervisory Board member, said at the launch event: “More and more students all over the world seek an education that prepares them as change agents and leaders of tomorrow. oikos International is proud to have been part of the PIR from the beginning to provide them with a global assessment of schools that focus on these competencies”.

“Business can be a force for good, and this is strengthened by students who are the next generation of business leaders. The PIR supports business schools to prioritize responsible management education – UN Global Compact and PRME principles strongly support these ambitions.  Antonio Hautle, Executive Director, UN Global Compact Switzerland

The rating survey asks students 20 questions in seven relevant impact dimensions that sit within three areas: Energizing, Educating, and Engaging. The overall PIR score of the business school is used to position the schools across five levels. The PIR levels were defined using a decreasing size of a level on the 10 point scale, to express an increasing challenge to reach higher levels. GIM scored 9 at the 10 point scale. The different levels refer to the developmental stage of the business school, rating it by a certain level of achievement. Business schools are provided with a defined social impact and a tool that they can use for change.

Katrin Muff, President of the Positive Impact Rating Association, said: “PIR is designed as a tool to improve and transform business education. It enables schools to understand what a positive impact for society is, according to their students. The PIR highlights the potential for improvement, even for leading schools.”

The PIR was created by concerned business school experts together with global NGOs – WWF, Oxfam, and UN Global Compact. International student associations oikos, AIESEC and Net Impact are also part of the PIR, which is supported by VIVA Idea and Fehr Advice.

What is noteworthy that participating schools across the globe  have started to use the PIR as a measurement and reporting tool for reporting on their progress and social impact towards PRME (SIP Report), EQUIS (Self-Assessment Report), or AACSB (Self-Evaluation Report). Some other schools have started to use it as a management tool for improving their social impact.