Business with Social Impact in Emerging Markets is an international project initiated within the UN PRME (Principles for Responsible Management Education) and realized by the Institute of Business Studies RANEPA in partnership with the Universidad de Colombia School of Management, ISAE – Brazilian Business School, SPJIMR-Bharatiya Vidaya Bhavan (India) and University of Monterrey (Mexico). The project is meant to create unique learning experiences in different contexts and countries (Brazil – Colombia – India – Russia – Mexico) to connect students with variety of situations, problems and opportunities to lead them to transform social issues in successful business models.

From February 21 to 25, a module organized by S. P. Jain Institute of Management and Research (India) was held aimed at developing knowledge and skills and fostering relationships to set up business models with a focus on implementing social projects to benefit the society. The agenda included multinational sessions with representatives of Indian business and social entrepreneurship, as well as professionals in the field of CSR, interactive online communication, and independent group work of module participants.

The week began with welcoming words from the Doctor of Sciences of SPJIMR, Nirjda Mattu, who stated: "The social responsibility of business is the most relevant agenda for today. We strive to change the mindset of our participants, to make them more enlightened in the topic of sustainable development and social responsibility." During the week, within the framework of the agenda, the participants got to learn the specifics of running a sustainable and socially responsible business in the realities of India. As such, topics ranging from the development of inclusivity to the introduction of the practice of maintaining a sustainable development report in the organization's activities were thoroughly covered. Indian social entrepreneurs, graduates of the SPJIMR MBA program, shared their experience in implementing social projects that can be scaled in the emerging markets.

The last day of the module was dedicated to group projects of the teams from India, Brazil, Colombia, Mexico and Russia. The participants were asked to prepare the analysis of the company of their country according to a given plan which revealed the main features of the social responsibility of the business. The work of each team can be characterized as nothing less than profound, productive and insightful, which was commended by the professors panel at the end of the session.

The IBS students were left fascinated with the module:

Ekaterina Perova, a 3rd-year student of the International Relations Department, shares her emotions on her experience: "Participation in the BSIEM project is an incredible opportunity to first hand communicate with the people who are passionate about their work from all over the world. It was immensely valuable to learn about which sustainable development projects are being implemented right now, as well as to exchange ideas and experience on the further implementation of breakthrough solutions in our lives. What is more, I would like to note how aspiring it is to see people who care about the future of our planet!"

Polina Tregubova, another 3rd-year International Relations Department student, tells this: "The BSIEM module was extremely informative and inspiring! Participation in it was an invaluable experience, as it was exciting to learn how the business of the developing countries implements social projects and thereby supports achieving the UN Sustainable Development Goals!"

The module participants were left convinced that the Indian experience will be key in developing their own projects and become a stepping stone for their further advances in the field of sustainable development and social responsibility. Together with them we are looking forward to the upcoming BSIEM modules!

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