PART 4

Beyond the Strategy


Responsible Management (PRME)

During the term of a strategic plan, sometimes mission-aligned priorities emerge that do not fall within the plan due to an unforeseen confluence of time, change of circumstance and energy. Such an opportunity arose when Sobey School’s faculty voted unanimously to sign on to the United Nations Principles of Responsible Management Education (PRME) in 2014. This action aligned with the spirit of several elements in our mission, and fulfilling our commitment to PRME has added a new dimension to other work we have undertaken within the plan.  A second opportunity arose with our acceptance into EFMD providing access to an impact framework, and an opportunity to measure what we increasingly recognized was our crucial contribution to Nova Scotia's prosperity.  

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PRME touches on all areas of the strategic plan, and beyond.

In the area of internalization, PRME has seen us join an international community committed to carrying out the 17 UN Sustainability Goals. 

In the area of engagement, we have created a PRME library of resources designed to serve the academic, research and broader community.

In the area of growth and development, it has served to reinforce our commitment to embedding innovative approaches to responsible business throughout our curriculum, as with our service learning initiatives and MBA capstone course. 

View our reports on PRME activities at the PRME website

One of our key achievements and contributions to the PRME community was our PRME resource collection, a library guide that links to articles, projects, cases, teaching tools and more, for the use of schools and organizations engaged in PRME and working to achieve the Sustainable Development Goals (SDGs).

Impact


With our acceptance as a full member of the European Foundation for Management Development, which had been pursued as a key element in our internationalization commitment to broaden our international reach, we were introduced to the Business School Impact System.

The BSIS was a newly developed tool that promised to help schools identify, quantify and analyze their impact on the communities they served. Impact was measured along seven axes, including financial, intellectual, ecosystem and image. The Sobey School of Business unveiled its first impact report in October of 2016, revealing a $329 Million input into the local economy in direct, indirect and induced spending. The report also indicated the importance of our students and graduates on the local workforce, our impact on the knowledge of the region, and more. As a result of this undertaking, we came to recognize that our impact was a strategic differentiator. We have enfolded it into our brand statement, “Making an impact with purpose.” (‘Purpose’ speaks directly to responsible management and the desire to improve the world, as evidenced through our PRME commitment.)


"Saint Mary’s Sobey School of Business Unveils Economic Impact to Region"

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We have since adapted the BSIS process to a custom dashboard and sought to deepen our tracking across the school. With staff now having deep knowledge of this process, Sobey School has been contacted to provide training and mentoring for other schools wishing to pursue this process. 

Impact lives as a dimension outside the strategic plan because it defines the aspirations we have for the pillars of the strategic plan: through internationalization, we hope to create an impact on the employment, immigration, import/export and cultural sectors of the region, as well as on the intellectual development of our students and alumni. Through engagement, we seek to have an impact on our students and alumni, our communities of practice, our fellow researchers, and the business community. Through innovation and development, we hope to have an impact on the reputation of the university and the region. 

 
 

Creating Impact Event

In October 2016 we released the Creating an Impact with Purpose report at a breakfast event in Halifax. We were joined by government, business, student and alumni representatives, as well as donors and friends of the Sobey School.

 

Looking Forward


Upcoming themes beyond this current Strategic Plan:

→ Entrepreneurship

→ Indigenous Business

→ Intensifying our Research 

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If you have any questions about this report, get in touch with us at the Sobey School of Business.

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