How Business Schools & Industry Can Collaborate To Support Societal Impact Leadership

Business schools are expected to do more than prepare students for management jobs. They are also being asked to help tackle complex social and environmental challenges more directly. At the same time, organisations recognise that leadership is no longer judged only by financial results. Long-term success, credibility, and innovation now depend on the ability to include societal impact in strategy and decision-making.

As a result, collaboration between business schools and industry is becoming more and more important, but at the same time also more complex. The most effective partnerships are not defined only by programme structure, format, or efficiency. They are built on something deeper, such as shared values, a common sense of purpose, and a joint commitment from all those involved. When this alignment is strong, partnerships move beyond simple exchanges and can drive meaningful change.

SHARED PURPOSE AS THE FOUNDATION

A key question sits at the centre of successful collaboration: why does the partnership exist? The answer goes beyond course design or short-term learning results. It reflects a shared commitment to developing leaders and organisations that can respond and adapt to major changes.

This alignment must extend beyond senior leaders. Faculty, programme designers, corporate partners, and other stakeholders all need a shared understanding of purpose. Without it, even well-designed initiatives can become disconnected in practice.

A core part of this shared purpose is recognising that leadership today involves dealing with complexity. Leaders are expected to manage sustainability challenges, technological change, and shifting expectations from stakeholders at the same time. This requires more than technical skills. It calls for adaptability, sound judgement, the ability to think across different fields, and the capacity to balance different perspectives.

EMBEDDING SOCIETAL IMPACT INTO BUSINESS LOGIC

Today, societal impact is no longer treated as something separate from business, but as part of what defines success. Environmental, social, and governance factors are increasingly built into strategy and evaluation, rather than added later.

This changes how education and organisations operate. The focus shifts from short-term efficiency alone to creating long-term value. In this sense, collaboration between business schools and industry also helps reshape what business success means.

Leadership development is also increasingly seen as an ongoing process that is part of wider organisational change, rather than a one-off programme or isolated activity.

This reflects a broader reality: changes related to sustainability, digital technology, and organisational culture are continuous. They require ongoing development of skills over time. As a result, business schools are increasingly seen not just as educators, but as long-term partners in learning, innovation, and talent development.

An example of this approach can be seen in the work of POLIMI Graduate School of Management, which has developed long-term collaborations with organisations focused on leadership development and transformation. One of these partnerships is with UniCredit and their programme – “Skills for Transition”. UniCredit is a pan‑European leading commercial bank providing  best-in-class solutions and services across Italy, Germany, Austria, and Central and Eastern Europe.

Skills for Transition was launched in 2024 to deliver strategic training to young people – including students and those not in education, employment or training (NEETs) – expected to be impacted by the green transition, helping them to develop the skills they need to meet the demands of a changing environment whilst generating a measurable social impact.

Now in its second edition, the students stream of Skills for Transition has expanded to twelve European countries, up from six in its first edition, showing its ambition to increase its impact across borders.

Skills for Transition for students focuses on employability, inclusion, and social mobility in the context of major economic change. It offers both a master’s pathway for graduates and a four-month bootcamp designed by POLIMI Graduate School of Management. The overall cost of the initiative (student selection, admission, program design and delivery) is covered by UniCredit.

A key feature is its focus on practical learning. Participants work on real business challenges provided by companies in sectors directly affected by the green transition, such as energy, manufacturing, and urban systems. This ensures learning reflects real organisational challenges.

The programme also brings together academic content, company involvement, and inclusion goals in one framework. It is more than a single programme; it connects individuals, organisations, and wider societal goals in a coordinated way.

Each edition includes feedback from participants and partners, improving coordination between academic and industry stakeholders and strengthening its connection to labour market needs. This ongoing improvement is essential for maintaining relevance and trust.

BUILDING ECOSYSTEMS RATHER THAN PROGRAMMES

Effective collaboration now also requires moving beyond standalone programmes, and instead developing integrated learning ecosystems. These ecosystems bring together different learning formats, engagement approaches, and tools that evolve over time rather than stay fixed.

At POLIMI Graduate School of Management, this approach is reflected in a broader system that supports both individuals and organisations. It includes tools to assess skills and development needs, digital platforms for flexible learning, and coaching and mentoring to support personal and team growth.

Hands-on learning also plays an important role, including team-based and outdoor activities that strengthen collaboration and broader skills. Engagement with research centres and innovation labs further connects learning to advances in technology and sustainability.

The ecosystem also includes support for organisational communication, funding for training programmes, applied research projects, and curated networking opportunities. Together, these elements show a shift from separate training activities to a more connected system for development.

THE ROLE OF SHARED PURPOSE IN SCALING ECOSYSTEMS

Even as these ecosystems become more advanced, their effectiveness depends on one key factor: shared purpose. Without it, complexity can lead to fragmentation across partners and initiatives. With it, different elements support each other and contribute to a clear, shared direction for change.

For business schools, the value of collaboration is not only in designing better programmes, but in building long-term partnerships that can adapt to changing social, technological, and economic conditions.

Collaboration between business schools and industry is therefore moving towards more integrated, purpose-driven models. These partnerships are defined by shared values, long-term commitment, and ecosystems that support leadership and organisational change.

They also take time to develop. Building trust, aligning expectations, and creating a shared language between academic and industry partners is an ongoing process, shaped by learning and adaptation.

The experience of institutions such as POLIMI Graduate School of Management shows how these principles can be applied at scale, creating ecosystems that support leadership development, organisational capability, and societal impact across Europe.

Effective collaboration between business schools and industry is no longer just about building stronger programmes. It is about creating continuous, long-term partnerships that evolve alongside the challenges they aim to address.

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Mauro Mancini is a full professor in Project Management and Industrial Plants at Politecnico di Milano – Dept. of Management, Economics and industrial Engineering and Associate Dean for Corporate Education at POLIMI Graduate School of Management. He is the Director of the international Master in Project Management and director of the digital executive program in Project Management at GSoM.

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