Business and Management Studies (UOA 17)
Our Business and Management submission to REF 2021 comprised 98 staff (93.5 FTE), more than double the number we submitted in REF 2014 (47, 41.4 FTE). We matched this with substantial growth in income generation (up 127%), postgraduate research student numbers (up 79%), and the volume of research produced through international collaborations (up 45% to 54%).
Our submission reflected the success of a series of targeted development strategies (e.g. Internationalisation with Impact and The Nobody Left Behind Strategy), culminating in the establishment of two new research centres — the Centre for Blue Governance and the Centre for Innovative and Sustainable Finance.
Looking forward, we are delighted to be partnering with the Chartered Association of Business Schools (CABS) to develop a fully-funded £20 million Small Business Leadership Programme to address resilience and productivity challenges for senior SME leaders across the UK business community.
Results in REF 2021
- 65.8% of our research outputs were judged to be internationally excellent or world-leading.
- 100% of our impact was rated as having very considerable or outstanding reach and significance.
- 100% of our research environment was judged as having the vitality and sustainability to produce internationally excellent or world-leading research.
- We are ranked second among modern universities by research power for Business and Management, according to Times Higher Education.
Our Business and Management submission brought together staff from across a wide range of business-oriented disciplines.
Our research supports all five of the University’s research themes. For example, our studies have examined the wellbeing of law staff and students, how child protection law copes with the ever-changing concept of risk, and the regulation of emerging technology.
Impact case studies
We are especially proud of the impact of our research on society and submitted seven impact case studies to support our submission.
- Our economists helped the Isle of Wight Council unlock an extra £9 million annually from central government to fund improved public services for the island’s inhabitants.
- Our finance lecturers provided expert advice in major financial litigation cases relating to LIBOR manipulation and collusion that led to financial judgements ascending to $658 million made against 11 US banks.
- Our Human Resource specialists supported the development of new professional HR standards in conjunction with the British Standards Institute [BSI] and the International Organization for Standardization [ISO].
Improved effectiveness and impact of an international microfinance programme
Since 2014, we have collaborated with CARE International UK, which runs an online microfinance platform — Lendwithcare (LWC) — linking borrowers in the developing world to lenders in the developed world. A major redesign of their online platform, influenced by our work, saw the number of active lenders grow from 20,794 to 66,002 between 2014 and 2021. The LWC investor portfolio also grew from £5.5 million to over £31.5 million over the same interval. As a consequence, more than 120,000 new loans were made to low-income entrepreneurs in developing countries during this period.
Blue Governance for healthy oceans and economiesOur Blue Governance specialists have helped improve the design and ongoing implementation of more sustainable ocean management policies, at both international and national levels. In Africa, our recommendations have been incorporated into the regional strategies of the African Union (54 countries), while at the national level we have helped design localised Blue Governance strategies that are now being implemented in various countries, including the Bahamas (Americas), Bangladesh (Asia), and Seychelles (Africa).
Killing by Drone: Implementing professional ethics training in the induction and practice of the UK’s Royal Air Force Reaper drone operatorsWe have worked with the RAF to introduce and deliver bespoke professional ethics training into the training of Reaper squadron crew members. RAF Reaper drones have been widely deployed in combat missions in Afghanistan, Iraq and Syria since 2007. Their use has prompted media debate, public controversy, protests outside the bases involved, parliamentary questions, and an inquiry by the All-Party Parliamentary Group on Drones into ‘The UK’s Use of Armed Drones’.