Prof. Himanshu Rai, Director of IIM Indore, expressed his delight over the Level 4 PIR rating, stating, “We are delighted to be listed among the Level 4 PIR Ratings. This serves as an empowering force, inspiring us to strive for excellence in our endeavors. By recognizing and promoting positive societal impact, this rating system encourages us to actively contribute towards a better world”, he said. At IIM Indore, we focus on taking all the initiatives that contribute to the well-being of the student, society, nation, and world as a whole. This motivates us to embrace more responsible practices, expand our innovative solutions, and multifold our sustainable approaches, ensuring that our actions align with the greater goal of creating a positive and inclusive future. “Apart from various sustainable practices and green initiatives on campus, we also focus on providing grassroots opportunities for our students to understand the significance of creating a positive impact through our Rural Engagement Programme (REP). Our students get a chance to stay in the villages of Madhya Pradesh state, thereby identifying and understanding the problems faced by rural India, thereby making our curriculum relevant and encouraging the students to come up with innovative solutions”, he said. The Himalayan Outbound Programme helps our students get exposure to extreme situations enhancing their leadership, decision-making, and team spirit, and events like Utsaha help them learn about grassroots marketing. “Our institute is a no-single-use-plastic zone, we plant more than 2.5 thousand trees annually, have an efficient rainwater harvesting system, and a waste management system that treats thousands of kilos of waste daily. Our students also play a significant role in enhancing our sustainable activities”, he added.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.Triple Crown accredited IIM Indore also received various awards related to its green practices. The institute received Silver at the Business Education Awards for Best Corporate Social Responsibility Initiative for ESG Activities in 2022. Recently, the institute also shone in the Membership Spotlight at the 2023 EFMD Annual Conference for its commitment to a green and sustainable campus.“We have an organic garden that produces tonnes of chemical-free veggies and fruits, and our horticulture cell, Sanjeevani, cultivates medicinal herbs that are distributed free of cost. With so many ongoing initiatives, and many in the pipeline, we are determined to continue to create a positive impact and look forward to being included in the Level 5 Pioneering institutions in the coming years”, said Prof. Rai.
The Positive Impact Rating (PIR) introduces a comprehensive classification system with five distinct levels, each representing different stages of schools’ progress and impact dimensions. At the “Beginning” level, schools are at the initial phase, either considering or facing challenges in launching their positive impact initiatives. As schools transition to the “Emerging” level, they begin translating their commitment into action, making tangible strides in one or more impact domains. “Progressing” schools showcase evidence of results across select impact dimensions, signifying their advancing journey towards positive impact. The “Transforming” level signifies schools with a thriving positive impact culture, deeply ingrained in their governance and systems, resulting in visible outcomes and remarkable progress across multiple impact dimensions. Finally, the “Pioneering” level highlights schools that exemplify outstanding global leadership, consistently excelling in all impact dimensions, and serving as beacons of inspiration for others. This nuanced framework allows for a comprehensive assessment of schools’ positive impact journeys while encouraging continuous growth and innovation in creating a better future.
PIR recognizes that business schools play a crucial role in fostering positive societal impact, going beyond economic contributions. Students assess institutions based on energizing dimensions such as governance and culture. Educating dimensions include programs, learning methods, and student support. Engaging dimensions involve the institution as a role model and public engagement. These assessments shape future leaders committed to positive societal impact.
“One of the most promising insights from the PIR is that schools from developing economies are performing significantly better than 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.”, said Urs Jäger, Prof. at INCAE Business School, Costa Rica, Executive Director, Viva Idea, and Member of the PIR Advisory Board.
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 voices to be heard.
With an unwavering determination, IIM Indore eagerly anticipates future progress and aspires to be recognized as a Level 5 pioneering institution, continuing to create a lasting positive impact.
