Universities are confronted with a growing reputation challenge, as public expenditure for research is increasingly scrutinised and questioned for its tangible benefit to society.
This declining public trust for the sector has made apparent the need for universities to restore their social licence and gain public trust once more. As is the case for business schools, government funding agencies, and communities are increasingly calling for evidence of relevance and tangible outcomes to see a clear ‘societal return on investment’ for academic research.
In response to this need, the Australian Business Deans Council (ABDC) has launched its ABDC Societal Impact Framework for Business Research (ABDC SIF) white paper to support business schools consider how to best capture, communicate, and amplify their valuable research.
This ABDC SIF white paper is the culmination of an extensive consultation process resulting in a rigorous theoretical framework that provides a strong foundation for capturing and communicating societal impact. This framework involves mapping scholarly and impactful activities along the societal impact pipeline, differentiated by the diverse stakeholders with whom business schools engage with.
While business school research clearly produces societal impact, we have not always been effective at showcasing these contributions or articulating the benefits accruing to industry, community and society more generally.
The White Paper provides some examples of societal impact such as research at UNSW which has tackled financial injustice to those experiencing tax and financial distress and escalated systemic issues by driving policy change. Research at QUT has transformed how Australian emergency services deliver timely and effective communication, helping to save lives and minimise damage to communities. RMIT research has redefined the role of housing agencies by identifying relevant metrics to support government investment and promote more integrated, long-term tenant support.
While the ABDC SIF was specifically designed for and with business schools, the framework speaks to the whole sector. Now is the time for institutions to take up the challenge and rethink how they capture and communicate research impact to restore its social licence.
Dr Chelsea Phillips is Societal Impact Postdoctoral Researcher at the Australian Business Deans Council.