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Cardiff School of Management Receives Prestigious BSIS Award for Economic Impact

News | 19 April 2024

Cardiff School of Management has become the first university in Wales and just the third in the UK to receive the Business School Impact System (BSIS) label from the European Foundation for Management Development for the positive economic impact the School has on the Cardiff Capital Region.

The award comes after the Cardiff School of Management, which is the business school at Cardiff Metropolitan University and based in state-of-the-art facilities at the University’s Llandaff campus, was visited by assessors earlier this year. The rigorous evaluation process undertaken by independent assessors resulted in a comprehensive report highlighting CSM’s substantial annual financial impact on the Cardiff Capital Region. According to the report, CSM contributes a staggering £169 million to the regional economy each year – before the School’s wages paid out to staff are added – highlighting its pivotal role as a driver of economic growth and prosperity.

“We are immensely proud to receive the prestigious BSIS Award, which serves as a validation of our unwavering commitment to fostering economic development and prosperity within the Cardiff Capital Region,” said Professor David Brooksbank, Dean of Cardiff School of Management. “This accolade underscores the dedication of our staff, students and stakeholders who continually strive to make a positive impact on our community.”

The BSIS assessment highlighted the Educational Impact of the School’s programmes. In particular, they were characterised as accessible, supportive, creative, flexible, professional and forward-looking. They were also shown to be diverse (in students and degrees), with strong mentions of welcoming.

In terms of Business Development Impact, the assessment showed the School is known as the go-to place for business development expertise and advice. It provides a life-cycle of support through from start-up to scale-up and onwards, with expertise in bringing organisations together to develop communities of business development practice.

The School’s place in the Regional Ecosystem was recognised through creating impact as an acknowledged soft power and was seen as an important referral point for regional stakeholders. It demonstrates strong civic and public sector engagement alongside employers, schools, and colleges.

Finally, the BSIS assessment highlighted how the School generates a virtuous circle of impact through its teaching, enterprise and research activities.

Professor Brooksbank said: “The BSIS impact assessment moves us beyond simply having a mission, to actually understanding and communicating how we are making that difference across a range of dimensions and the positive impact we have on both our region and more globally. The BSIS assessment has helped us to identify our key strengths and highlight the areas of distinctiveness that make Cardiff School of Management unique. Of course, we are also delighted to be the first business school in Wales (or more widely, in any UK devolved nation) to receive the BSIS label.

“We decided to approach BSIS for an impact assessment because we wanted to see where we stand in terms of impact and find ways to enhance it. With expansion plans well underway, the School is keen to place impact assessment at the centre of its strategy and to differentiate itself by demonstrating the value it adds to the Cardiff Capital Region and beyond.

“I am grateful to my CSM and wider University colleagues and to the range of external stakeholders who took part. Together I believe they have helped us evidence and highlight the true impact of the School across the BSIS dimensions. In turn, this will allow us to re-position the School to address the needs of the region more responsively and exploit the many opportunities that still exist to showcase our work.”