Towards impact culture: Three schools renew BSIS label

We are delighted to announce that Corvinus University of Budapest, Sasin School of Management, & Tallinn University of Technology, School of Business and Governance have renewed the Business School Impact System (BSIS) assessment and received the BSIS label. Warm congratulations to the schools!

François Bonvalet, Director of BSIS, commented, ‘The renewal of the BSIS label goes along with the schools’ enriched impact culture. They have been diligent in implementing the recommendations of past BSIS assessments, which is noted in the substantial increase of positive impact in many of the examined areas. We look forward to seeing their future developments in their impact journey!’

Corvinus University of Budapest

Corvinus University decorates Budapest’s landscape with three iconic campuses that host the academic training of over 10 000 students. It is Hungary’s most prestigious higher education institution in the fields of business, management, and economics, being recognized nationally and internationally for its excellence in teaching and research. Corvinus has an outstanding alumni representation in top decision-making positions in Hungary, having provided all Governors of the National Bank of Hungary in the past 30 years, and most of the CEOs of companies listed on the Hungarian Stock Exchange.

Corvinus University is a highly influential force in Hungary’s business ecosystem. Its positive impact is underpinned by its robust direct and indirect financial contribution to the impact zone; increased research output, including PhD defences, authored and co-authored books and conference presentations in collaboration with the private and public sectors; and commitment to sustainability through initiatives such as the recently established ERS Hub.

‘Corvinus was among the first institutions to participate in the BSIS process as it was part of the pilot system in 2013 and has continuously held the label since then. Ten years later, we are delighted to announce that the Corvinus University of Budapest renewed the label once again. BSIS is a great tool to structure how we think about the impact we create with our work. The strength of BSIS is that it has a comprehensive understanding of impact, it covers many different aspects with the seven impact dimensions. Being part of the process helped us to realize the many ways we can measure and communicate the impact of our Institution. The BSIS renewal also prompted us to think through how some of our recent organizational changes and new initiatives affect the impact we create in the world around us, and how these effects change as we develop as an institution. For example, we are in the middle of the construction of a new campus with two large buildings in addition to our current ones, and the BSIS experts gave us very good suggestions to take stock of the entire impact of this large-scale strategic investment project’ commented Péter Fehér, Vice-President for International Relations and Accreditations & Antal Piross, Senior Expert Quality Enhancement and Accreditations, Corvinus University of Budapest.

Sasin School of Management

Part of Chulalongkorn University, Sasin School of Management is a highly recognised contributor to the business ecosystem in Thailand and the Asia Pacific region. Sasin was the first business school in Thailand to have obtained international accreditations such as EQUIS in 2011. It offers a diverse, research-based programme portfolio grounded in lifelong learning, academic excellence, and business and social relevance.

The positive impact produced by Sasin’s academic offering, students, alumni, and research activities is visible nationally and internationally, having a strong focus on sustainability. Through initiatives such as the Sustainability & Entrepreneurship Center and Action Learning Labs, the school converges the concepts of entrepreneurship and sustainability to benefit Thailand and the region. Since its first BSIS assessment in 2019, Sasin has matured its culture of impact, reflected in its growing research output, and persisting high employability of graduates.

Tallinn University of Technology, School of Business and Governance

Taltech is the second-largest public university in Estonia, offering a wide range of educational programmes at all levels to over 9000 students. The university is known for its innovation-driven strategy embedded in its curricula and use of new and digital technologies in the classrooms that have contributed to achievements such as the creation of the first self-driving car in Estonia. This strategy is also an integral part of its School of Business and Governance, which is recognised as a leading business and economic education provider nationally.

Taltech SBG is a major source of positive impact in Estonia. Its academic, social, and research activities greatly benefit internal and external stakeholders. Remarkably, Taltech has considerably increased its intellectual impact since the last BSIS assessment in 2019. Its influence at policy and societal levels through research is highly impressive.

‘The initial assessment focused on identifying the school’s position and impact in the region, for which the BSIS framework is an excellent tool. The first evaluation did not only help us identify our strengths and weaknesses but also provided us with a clear roadmap to increase our impact and how to measure it. Throughout the re-evaluation process, our progress in the educational, intellectual, and societal aspects was assessed. The evaluation process proved that we had taken long steps towards developing an impact culture. E.g., there has been a notable shift from the three years back focus on the quality of research towards the impact of research. The final report gave us valuable external views and new ideas for better focusing on the activities that have a more educational, intellectual, and societal impact’, commented Mari Avarmaa, Dean, Tallinn University of Technology School of Business and Governance.

About BSIS

The Business School Impact System (BSIS) scheme is designed to determine the extent of a school’s impact on its local environment – the city or region in which it is located. The BSIS process is offered in collaboration between EFMD Global and FNEGE (Fondation Nationale pour l’Enseignement en Gestion des Entreprises), as a service to EFMD members in any part of the world. The impact of the business school is analysed based on the following seven areas of impact: financial, educational, business development impact as well as intellectual, societal, image, and impact within the impact zone selected by the school and its regional ecosystem.

There are currently 62 schools across 19 countries that have received the BSIS label.

To learn more about the impact assessment system, please visit the BSIS website or contact

BSIS was launched ten years ago and has come a long way. Learn more about recent changes with the appointment of a new Director and the establishment of a Steering Committee.