The authors examine the development and implementation of measures for the 2013 Association to Advance Collegiate Schools of Business (AACSB) thematic dimensions of innovation, engagement, and impact (IEI) at two AACSB-accredited business schools. Agreement exists among faculty in Study 1 that IEI should be viewed as interrelated and overlapping concentric circles rather than separate dimensions. Study 2 findings suggest the importance of dialogue with faculty during the implementation process to further clarify the conceptual IEI boundaries. Overall, the authors' findings can assist schools in ensuring that the development and implementation of IEI themes in their institutions are consistent with the AACSB standards.