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The Impact of the COVID-19 Crisis on Business Schools

The BSIS Impact Survey was undertaken between October and November to learn about the challenges which business schools face across the world as a consequence of the COVID-19 pandemic. The survey seeks to build a picture of the impact of the pandemic, how the sector is responding to these unprecedented challenges, and how business schools see the future.

The pandemic’s most significant impact to date has been a financial one, with a drop in student numbers and employability opportunities, and increasing pressure on student fees. The move to remote learning has presented an immediate challenge with a need for investment in technology and staff capability in order to meet student expectations of a remote learning environment. International student recruitment and student mobility are key external challenges for business schools, together with central government Higher Education (HE) policies. In terms of future scenarios, the business schools in the survey recognised the urgent need to change their business models as disruptive change is becoming a feature of their working environment. They believe it is increasingly important to demonstrate the impact which business schools make on the world around them, along with the need to engage in more widespread collaboration. There is an overwhelming belief that schools will work to regenerate themselves and the economy. 

The data generated by the survey will be used to inform and further develop the business school Impact System (BSIS) tool, both enhancing the assessment of schools undertaking BSIS, and also to develop the programme of BSIS events and activities including the forthcoming webinar ‘Demonstrating Impact: Exploring how business schools can demonstrate their impact on the world around them’ as well as the upcoming online symposium.

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