Business with Social Impact in Emerging Markets - is an international project in the field of social responsibility and sustainable development. It was developed within the framework of the UN PRME (Principles for Responsible Management Education) initiative, which advocates responsible management education, and is a part of the UN global project on sustainable development. At the RANEPA, the project is being implemented by the Institute of Business Studies (the IBS, RANEPA) in partnership with leading international business schools of emerging economies Universidad de Colombia School of Management (Colombia), ISAE - Brazilian Business School (Brazil), SPJIMR–Bharatiya Vidaya Bhavan (India) and, since 2021, the University of Monterrey (Mexico).

The Colombian module was devoted to the Circular Economy. The participants had a unique opportunity not only to get acquainted with the concepts, principles and practices of Circular Economy, but to work on the challenges, using Circular Economy as an opportunity to deal with global issues.

Colombian experts shared their best practices with the participants. The experts introduced “Problem Tree” tool on miro.com platform. The participants used the tool to work out and present the Circular Economy solutions on 4 Global Challenges in multinational teams.

On the final day of the project the participants presented their solutions. The panelists, who assessed the presentations, noted that despite the participants’ diversity they have common interest to the sustainability concept and Circular Economy, and are ready to put the main principles and practices into practice.

The module was considered by both participants and BSIEM co-organizing partners as successful and fruitful! The IBS students proved themselves as capable international specialists, demonstrating the skills of intercultural communication, project work and possession of relevant knowledge in the field of sustainable development.

«Many thanks for the opportunity to participate in the Colombian BSIEM module. This is a unique experience of communicating with foreign partners, especially at such a time. In addition, we are discovering more and more sustainable development. And since Latin America is now one of the partner regions, this is also an opportunity for us to practice Spanish. Representatives of LAAX and Xiclo had presentations in Spanish. Thanks to the organizers! Looking forward to the next module!» - a 4th year student of the bachelor in international relations program, Xenia Konnova.

“I found the course BSIEM to be a very informative and engaging. The course provided me with a comprehensive overview of CSR theory and practice of it in Columbia, as well as the opportunity to apply my knowledge to real-world case studies. Communication with students from another part of the planet also was a great opportunity. I was particularly impressed by the course's international focus, which gave me a global perspective on different issues”, – says Sergey Rakich, a master in international management program IBS student.

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