LBS’s Impact Consulting Club members are using their business expertise to change the way non-profits do business
London Business School’s Impact Consulting Club (ICC) enables students interested in strategy/impact consulting to work on real projects with non-profit organisations in need. The club’s three main objectives are:
- To drive impact for social enterprises and not-for-profit organisations through an LBS network of diverse talent and expertise
- Deliver unparalleled opportunity for students to develop leadership and relevant consulting skills
- Connect employers with a high-potential and diverse talent pool
The program is a mainstay for students looking to get involved in strategy projects during their time at LBS. The hands-on consulting experience and peer learning provides a safe platform to explore the consulting function. Sponsored by Bain, students are able to learn from each other as well as current Bain consultants while tackling real strategic challenges. But the impact of the program goes far beyond developing expertise and experience. The ICC helps students realise how valuable their pre-MBA expertise are to non-profit organisations in need of support.
ICC’s non-profit partners, ranging from the NHS, to student startups, to a local government in Australia all have one thing in common, they are facing a pivot point in their business. It is often cost prohibitive for non-profits to bring on strategy consulting teams, meaning they would otherwise not have the time nor manpower to properly assess these critical strategic questions. That is where the ICC team steps in. By designing teams with diverse backgrounds and skillsets, the ICC is able to offer partner organisations the depth of expertise necessary to assess strategic challenges from multiple angles.
The ecosystem ICC creates is a win-win for students and social enterprises alike, providing valuable learning experience while helping shape the social impact landscape of London and beyond.
Spotlight on ICC’s Work
Most of the ICC work is done in the context of Term Projects in both the Fall and the Spring. These eight-week engagements bring students together in teams of 5-8 to focus on a client challenge. Teams will also have the opportunity to learn from and work directly with Bain consultants at three checkpoints throughout the process, to hone their recommendations and maximise impact. The key benefits of a term project are:
- Develop new skills: Projects allow students to develop critical business skills, leadership capacity and build a unique consulting toolkit, all while working on strategic problems with real clients
- Meet new people: Projects are staffed with students across programs at LBS (Early Careers, MBA, EMBA ) and enables students to meet different members of the LBS community to widen their networks
- Network with sponsors: All term project teams are mentored by current strategy consultants at Bain & Company. Bain consultants provide case training, feedback and advice on on-going projects; there are multiple touch points with a designated Bain consultant throughout the term project
These projects cover a huge range of organisations and business challenges. Students have the freedom to apply to a role that best suits them. Some of the projects ICC team members are working on right now are include:
- Re-branding a hospital for a national healthcare provider
- Developing a new business model for an LBS student-led startup
- Helping a town improve the health and activeness of its citizens
- Designing the go-to-market approach for an innovative new feminine care product
The output of the student-led analysis on these problems will have a tangible impact on the social enterprises, enabling further growth towards their mission respective missions.
How to get involved as a student consultant or partner organisation
If you’re a student looking to get involved on a project, or are just curious to learn more about the Impact Consulting Club then check us out on our website or reach out to our team directly:
- Lynda Liu, Co-president: firstname.lastname@example.org
- Oindrilla Chakraborty, Co-president: email@example.com
- Hari Paton, Outreach lead: Hpaton.firstname.lastname@example.org
- James Austin, Outreach: email@example.com
- Sunny Khubani, Outreach: firstname.lastname@example.org
We are always taking on new project partners! If you work with an impact-oriented organisation who needs assistance with a strategic challenge at any level of the business do not hesitate to reach out.
The Wheeler Institute is inspired by the purpose and passion of our students who are focused on applying innovative thinking in the area of business for development. We seek collaborations with student clubs and initiatives that have the potential to evolve how we think about business, and those initiatives that allow students to apply their business skills and knowledge in complex real-world environments whilst creating positive and sustainable impact for local organisations and communities.