Report from the third annual IMPACTathon weekend
The LBS Impact Consulting Club’s third annual IMPACTathon was held over the weekend starting on 18 November. In an action-packed 35 hours, 55 LBS students and their project managers were teamed with nine high-profile social entrepreneurs.
Groups conducted original research and benchmarking analyses, developed profitability models and frameworks that clients could use to fine-tune their organisations. Sponsored consultants from the MBA2019 class volunteered up to four hours of their time over the weekend to help the teams.
MBA2019 project manager, Rory Biskupski, said the IMPACTathon was a "great opportunity to practise leading a team, dealing with real-world clients and consulting problems and developing a solution in a very short timeline".
Each student that participated now has real-world consulting experience, and their clients have ideas they can implement to change their businesses.
Social entrepreneurs praised the students’ expertise and dedication. Charlie from Hopeful Traders said: "I now feel like I could move forward with the business plan much more efficiently".
High-impact ideas from the weekend included:
- Tools for measuring the impact of motivational speakers
- A budgeting app for low-income families
- Wearable tech for patients with dementia
- An app providing a charity token blockchain platform for fashion retailers
- Fundraising strategies to target diaspora groups in the UK
- Go-to-market strategy to mobilise the UK population to commemorate the first world war
- A new franchise model for a company providing employment to refugees in the UK
- Aligning the mission and organisational structure for an arts and community space in South East London
- Inventory management and scaling strategies for an ethical fashion retail in London
Following the final team presentations, three groups were awarded best of the weekend: best solution; most creative solution; and most data-driven solution. The event ended with a networking dinner.