This blog was kindly authored by Jack Harrington, CEO, Emma Parry, Chair and Katy Mason, President, British Academy of Management.
Chartered ABS recently published its Business Schools as Engines of Growth report. This work provides a much needed look at the social and economic value of Business Schools. It paves the way for likely changes in the policy landscape.
Here, we focus on why Business Schools are so well placed to deliver on so many policy priorities. Among other things, Business Schools are a channel through which social science research can change lives for the better.
Business Schools across the UK are situated in very different kinds of regional economy. At a time of immense disruption – from climate shocks to technological transformation – our business schools must reimagine their role in helping shape the future of regional economies. The ‘Business Schools as Engines of Growth, Opportunity and Innovation’ report, published as a supplement to Universities UK’s 2024 Blueprint for Change, rightly positions business schools as more than excellent educators. Crucially, they are also strategic collaborators in place-based transformation, driving a new kind of socio-economic growth.
The report calls to deepen research partnerships between business schools, local businesses, and policymakers. This is not just a question of economic necessity (though the productivity gap between UK regions remains stark). It is, most importantly, a question of social responsibility. We must place people and planet at the heart of our research agendas, building new understandings of inclusive, sustainable growth that reflect the urgent challenges of our time.
From knowledge to impact: research that makes a difference
Business and management research is often undervalued in national Research & Development debates. This is surprising, given it plays such a pivotal role in enabling the adoption and use of technical innovations as viable, scalable, and ethical elements of our everyday organisational practices and social lives. Research insights from UK business schools are already helping local firms adopt digital tools, improve leadership, decarbonise operations, and engage communities more inclusively.
Programmes such as the Help to Grow: Management course, delivered by Small Business Charter-accredited schools, demonstrate how research-informed education can empower SME leaders to drive digital adoption and productivity. IPSOS evaluation shows 91% of participants report improved leadership and growth capabilities.
This is just the tip of the iceberg. Research conducted through Knowledge Transfer Partnerships (KTPs), place-based innovation catalysts, accelerator and labs offers a roadmap for changing the way business schools can act as “anchor institutions” in their regions to drive positive change.
A new narrative for business research
If we are serious about creating a fairer economy and a more inclusive society, then the UK’s business schools and their research must be seen as essential infrastructure for inclusive and sustainable regional development.
Fortunately, this is largely a matter of valuing what we already have. As the white paper shows, Business Schools often provide the most visible way in which the social sciences inform decision-making and operational life in organisations across the UK. Business Schools offer the networks, the expertise, and the commitment to act as coordinators between science, society, and markets, and the skills to drive the co-production of new kinds of knowledge and imaginaries for a better future.
There is still more that business schools can do. We need to be much better at enabling and valuing interdisciplinary, engaged research that supports public and private sector leaders navigating complexity. We need to help early-career researchers to collaborate beyond the academy. And we need to rethink impact, not just as ‘REF returns’, but in terms of supporting the development of better jobs, fairer systems, and stronger communities.At a time when the Higher Education is in financial crisis, and the economy is struggling to grow, investment has never been so urgent.