Operationalizing AACSB’s societal impact standard: assessing SDG 8 integration through a community partner internship program

Purpose Although the revised AACSB’s Standard 9 provides a strategic direction, limited research has been conducted on operationalizing its integration into business schools. To address this gap, we defined and evaluated a framework to explicate societal impact through specific inputs, activities, outputs and outcomes at the organizational, student and faculty levels. Design/methodology/approach The study used a mixed-method approach. The data include quantitative and qualitative survey responses from nonprofit executives, which were analyzed using hypothesis testing. The qualitative responses from students were analyzed using natural language processing (NLP), and faculty evaluations used a standardized rubric. Findings The adopted model used in this research effectively measured the societal impact of Sustainable development goal (SDG) 8. Three key findings include: (1) Nonprofit executives reported contributions to their project success rate and enhanced decision-making processes. (2) The evaluation of student perceptions showed growth in career readiness competencies. (3) Faculty assessments indicated strengthened connections between academic preparation and workforce development with SDG 8 goals. The operationalization of activities and outputs within the internship program provided a framework for evaluating organizational and individual career development outcomes. Research limitations/implications This methodology has limitations: it does not account for other factors that may influence participants’ responses. This analysis focuses on determining whether the executive’s viewpoint deviates significantly from a neutral stance without considering the effects of additional variables. Another limitation is the sample size. Research on small sample sizes has demonstrated that the Type I error rate is close to the 5% nominal value in most cases (De Winter, 2019). Practical implications Our findings offer significant implications for AACSB accreditation by providing a practical framework for operationalizing SDG 8, which is used across many currently accredited universities. The paper can be used as supplementary information for AACSB interpretive guidance. This perspective can influence how AACSB evaluates and supports business education programs aimed at providing broader views of program effectiveness and AACSB accreditation of business schools. Future research could focus on providing schools with a comprehensive assessment tool kit for universities seeking accreditation. Social implications Our program can have a national or international appeal. If it can be successfully implemented across multiple universities, federal/state/local municipalities can collaborate with nonprofit organizations to pair with public business schools to achieve the SDGs. Additionally, the government may consider policies requiring organizations that receive loans/funding/support to partner with business schools to bolster participation. This model could serve as a structural architecture for addressing other societal challenges beyond SDG 8, potentially simultaneously evaluating multiple SDGs that affect constituents locally and globally. Originality/value This research demonstrates a novel framework for operationalizing AACSB’s Standard 9 using SDG 8 in the information systems discipline. This model of implementing data-driven community partner internships can be integrated across business schools nationally and internationally. Our assessment approach provides valuable insights for accreditation bodies, educators, researchers, employers and students on implementing and assessing societal impact initiatives in business education.