MBA students participate in new consulting programme providing Asian-, Black-, and Latinx-owned businesses with real-world solutions for advancement
London Business School (LBS) has joined forces with world-leading Cognac
producer Hennessy to deliver a 10-week consulting-style project with MBA students
as part of Hennessy’s Unfinished Business initiative.
Introduced in June 2020, the Unfinished Business initiative provides long-term
support for small businesses impacted by the pandemic, with a goal of bolstering an
equitable recovery for those of culturally diverse backgrounds. It has provided over
$5 million in funds to more than 1,600 Black-, Asian- and Latinx-owned small
businesses across the US.
LBS has selected five small business fund recipients from the initiative to participate
in the consulting program. This faculty-led, experiential course facilitated through
MBA students, will tackle complex business challenges and develop solutions that
have real-world impact. Students assigned to each business will commit upwards of
250 hours towards testing and refining solutions to accelerate each business
LBS Professor of Strategy & Entrepreneurship Julian Birkinshaw, working closely
with the School’s Experiential Learning team, will oversee their work.
“The role of Business Schools in creating a just and equitable world is not to be
underestimated. London Business School students have a strong track-record in
working with small businesses to drive lasting and sustainable impact across the
globe,” he said.
“We are delighted to be partnering with Hennessy on this initiative to create tangible,
actionable and meaningful change.”
The School worked closely with Hennessy’s community partners including One
Hundred Black Men, the Asian American Business Development Center and the
Hispanic Federation to identify small businesses where the students could have the
most impact on their pressing, strategic issues.
“Access to a world-class network as esteemed as London Business School opens
doors to transformative growth possibilities for Unfinished Business recipients,” said
Jasmin Allen, Senior Vice President, Hennessy US.
“This influential and highly-engaged program delivers significant value for small
businesses, aiding Hennessy’s commitment to supporting a more just economic
future for Black-, Asian- and Latinx-owned small business communities.”