In this paper, we develop a new understanding of research impact that has far-reaching consequences for strategy and management research in the context of grand challenges. Through this new approach, we highlight how not only practices and practitioners are changed in impact, but how impact also changes theory and researchers.  Wegener, F., Mascena, A., Lee, J.Y., Sharma, G. & Bansal, P. (Tima) Working paper under review. Identifying information removed to protect the double-blind review process. Please correspond with the first author to request a draft.