Leveraging business as a force for good

University of Alberta MBA student Jasmine Bhachu believes that most people want to make a difference, drive change and positively impact the world. Oftentimes, though, they’re unclear on where to start. 

The University of Alberta Net Impact Graduate Student Chapter provides an opportunity for Alberta School of Business MBA students to work closely with organizations wanting to create a more socially and environmentally sustainable business environment while also providing opportunities for students to learn new skills and expand their professional network.

“As someone with a strong interest in social and environmental initiatives, I jumped at the opportunity to participate in a consultancy project with a focus on sustainability,” said Bhachu.

Bhachu was one of the current Net Impact MBA students involved in one of five consulting projects, with the goal of developing reports for participating non- and for-profit organizations wanting to address social and environmental issues within their business structure. The students worked on the projects throughout the school year and recently presented their findings to their respective project organizations. 

Becoming B Corp Certified

Bhachu was the student team lead on the Umay Care Project. The objective of the project was to assist Umay Care (a company using thermal therapy to restore eye health) in its application to become a Certified B Corporation, a certification of for-profit companies that indicate a commitment to balancing profits and social and environmental purpose. 

The team analyzed the areas within the B Impact Assessment — a tool a company can use to measure its impact on its workers, community, environment, governance and customers — and offered suggestions as to how Umay Care could become B Corp Certified. In order for a company to become certified, it must achieve a minimum of 80 out of 200 available points on the B Impact Assessment, so Bhachu said the team needed a clear understanding of what to prioritize given company resources. 

“Becoming a Certified B Corporation is a great opportunity for organizations to engage in sustainable operations and have their work validated,” said Bhachu, who’s taking on the chapter’s director of consulting projects role next year. 

“From promoting equity, diversity and inclusion in the workplace, to monitoring energy use, any and all sustainable efforts made are a step in the right direction.” 

Non-profit Social Sustainability

Amber Myles was the student team lead on the Stollery Foundation Project, which offered recommendations as to where the Stollery Children’s Hospital Foundation could potentially extend care facilities to rural communities in Alberta. 

Over the course of the school year, the team determined 13 community recommendations based on nine different variables, including existing health care infrastructure, number of patients, distance from Edmonton and community engagement. In the end, the team presented a detailed snapshot of eight potential communities to the Stollery Foundation (selected out of the 13 because they were the farthest distance from Edmonton).

The team also looked at how other foundations in Canada were fundraising during the pandemic. 

“I wanted to get involved in this project because not only does Net Impact provide a lot of opportunities to learn more about consulting, but also because it gave me the chance to give back to the community,” said Myles, who’s taking on the role of chapter leader next year. 

As a registered nurse, Myles used to work in the pediatric emergency department at the Stollery Children’s Hospital and witnessed firsthand the need for extended care facilities in rural communities. She said families often have to deal with the added cost and stress of driving long distances, sometimes separated from their kids or family members for extended periods. 

“The project really analyzed how the Stollery Foundation can offer the same resources to everyone equally, regardless of where they live,” said Myles.

Driving Change

Established in 1999, the University of Alberta Net Impact Graduate Student Chapter has long established itself as a leading Net Impact chapter. 

It became the first Canadian student chapter to receive Gold status in 2011 — an award which annually recognizes chapters who go above and beyond in providing their members with opportunities to make an impact in their communities — and has maintained that status ever since. 

The school’s student chapter is also a finalist for the 2019-2020 International Student Chapter of the Year, selected by Net Impact from the pool of annual Gold chapters. The winner is announced later this year.

Krishnendu Majumder (‘20 MBA) was the 2019-2020 chapter leader. Like this current chapter, Majumder and his team of fellow MBA students organized several sustainability-focused consulting projects and events and worked closely with local organizations that were having meaningful social and sustainable impacts in their communities. 

He also attended the 2019 Net Impact conference in Detroit where he had the opportunity to meet with hundreds of student and professional Net Impact leaders from around the world to engage in topics impacting communities.

“Our Net Impact community empowers students to use business as a force for good by inspiring them to use the power of business to drive social impact,” said Majumder.

“Our partner organizations leverage the skills and business knowledge of our MBA students to find solutions to their most pressing sustainability issues which ultimately enables them to strike a balance between people, planet and profits.”