“What gets measured gets managed.” – Peter Drucker.
XJTLU International Business School Suzhou made history once in 2016, and again in 2018, by becoming the youngest business school in the world to become AACSB and EQUIS accredited in those two years respectively. This year, IBSS took a further step towards becoming a locally and internationally recognized business school, becoming one of only two Chinese business schools
to become European Foundation for Management Development’s (EFMD) Business School Impact System (BSIS) labelled, and only 53 worldwide to hold this title. The BSIS process is designed to determine the extent and nature of a business school’s impact on its local region, and was initially designed by the French National Foundation for Management Education.
In September 2020, IBSS received a visit from a panel of BSIS experts, who assessed the business school for its impact on China’s Yangtze River Delta region across 7 different criteria. These included areas such as IBSS’s financial impact on the region, its impact on the local business community, and the impact it has through its teaching and initiatives related to ethics, responsibility and sustainability (ERS). IBSS was commended on the significant progress it has achieved in its relatively short history, as well as initiatives such as the Suzhou Executive Academy that serve as learning and sharing platforms for local businesses. The school was also praised for the work it has done building a strong alumni network and the impact in ERS it has generated over the past three years.
With this assessment now complete, IBSS possesses a more comprehensive picture of its relationships with regional stakeholders, in addition to key recommendations from the BSIS expert team on how IBSS could generate even more value for these stakeholders. Not only has the business school demonstrated its quality with this latest achievement in accreditation, but the BSIS process itself has been invaluable in creating a measurable foundation to build upon for IBSS to create further impact in the future.