Getting to like L.E.K.
Founded in London in 1983, L.E.K. Consulting is a global
strategy consulting firm with 21 offices across 13 countries.
It offers five major capabilities to its clients: strategy, mergers
and acquisitions, operations and organizational development,
shareholder value management, and marketing and sales
consulting. L.E.K.'s clients are drawn from a wide variety of
industries and include FTSE 100, Eurotop 300 and Fortune 500
members, major central government departments and smaller more
entrepreneurial businesses. In Europe, the firm has strength in a
number of major industries, including biopharma and life sciences,
retail and consumer products, healthcare, financial services,
industrial products and services, media and entertainment,
aerospace and defence, transport, energy and private equity.
Underscoring all its services, says L.E.K., are its data-driven
research capabilities. "We confront each challenge or opportunity
without preconceived notions, and our recommendations are based on
facts rather than assumptions. Every solution we propose is
informed by a combination of in-depth research and rigorous
analysis." The most valuable service that L.E.K. provides, the firm
says, is "helping companies to achieve tangible, high-impact
results by combining industry experience with sophisticated
analysis of complex issues. Our solutions give executives the tools
they need to make critical business decisions with greater
Offering a helping hand
L.E.K. takes its responsibilities-especially its social
responsibilities-seriously. As part of its environmental and
social responsibility program, the firm works with charitable
organizations on projects to improve the environment and local
communities. For example, the Social Mobility Foundation
(SMF) in the UK aims to help 'A' Level students from
less-privileged backgrounds to realise their potential by helping
them enter university and progress on to a challenging career.
L.E.K. participates in the SMF placement program, which matches
students to internships within leading UK businesses. L.E.K.
London also works closely with a local secondary school to mentor
pupils and give them the opportunity to work at L.E.K., either as a
regular part-time employee, or on short temporary work
And, when it comes to going green, L.E.K. is more than just
talk, working with clients on issues related to climate change,
such as policy and regulation, green investments and developing
low-carbon business strategies. In January 2008, L.E.K.
became carbon neutral, making it the first major consultancy to
implement such a policy across its global operations.
The firm's outreach doesn't stop there, either. In 2011, it
began publishing a blog, written by current L.E.K. consultants.
Called the L.E.K. Advisor (http://ask.lek.com), the blog serves
as a window into both the company and the consulting profession for
those who may be considering applying.
IN THE NEWS
Passenger Transport Companies (PTCs): How to Boost
Profits When Revenue Falls - Invest in Marketing
Passenger Transport Companies (PTCs) routinely spend millions on
marketing. And with good reason - effective marketing campaigns
attract new customers, cement loyalty with existing customers and
crucially, generate revenue. Yet during tough economic times,
marketing spend is one of the first budget items to be cut, despite
evidence that increasing, or at the very least, maintaining
marketing expenditure is a valuable tool for boosting both revenue
Recent analysis from L.E.K. Consulting confirms the marketer's
claims - PTC's who underinvested in marketing during hard years saw
revenues decline, while those who invested achieved a marketing
expenditure ROI of more than 500%. Read more.
Service Expansion Opportunities for MedTechs: A European
L.E.K.'s Executive Insights "Beyond The Product: Service
Expansion Opportunities for MedTechs" outlined the possibilities
for expanding into broader services, given hospitals' need for cost
containment and integrated support. L.E.K. MedTech Partners
Massimiliano Rubin and Nicole Mooljee Damani give their perspective
on the dynamics of this sector in Europe. Read more.
The Need for Speed: How Digital Specialists
Revolutionized the Innovation Cycle
When it comes to innovation, large corporations are often
outwitted by small digital specialists, despite the fact that they
have many times more R&D resources at their disposal. But as
Steve Jobs once said, "Innovation is not about money. It's about
the people you have, how you're led and how much you get it."
In this Executive Insights, L.E.K. Consulting
examines exactly how digital specialists handle innovation and what
separates them from competitors who struggle to achieve such fast
innovation cycle times. Read more.
Green is Good: The Revolution in Sustainable
Gone are the days of careless disregard for trash and leftover
packaging materials. Sustainable packaging is in-and taking hold of
the market in many ways. Sustainable packaging is now a $27 billion
market and growing at nearly 4% annually across three distinct
segments: reusables, recyclables and degradables. Green is good,
and with the fundamental shift in social mores and consumer
expectations, sectors across the economy have been undergoing
transformations including energy, agriculture, transportation,
housing and packaging. Read more.
Time to Get Streetwise: Unlocking Value-Based Pricing in
Personal Lines Insurance
In the U.K.'s highly competitive personal lines insurance
market, many insurers are missing out on significant profits due to
uncompetitive pricing. Yet the solution is within their grasp.
Direct personal lines insurers can no longer afford to rely solely
on traditional 'cost plus' pricing methods. As the pricing war
intensifies, market leaders are moving to a value-based pricing
architecture, separating the technical pricing function from the
customer value pricing function in order to acquire and control
profitable customer relationships.
This architecture places customers, their needs and behaviors at
the heart of the insurer's decision-making process. This is not
only in line with the direction of regulatory travel, but also,
critically, lays the foundation for driving innovation in product
and service offerings. Read more.
Skills Management: Why People Planning Beyond the
Boardroom is Key to Delivering Long-Term
When developing strategic business plans, companies all too
often concentrate on the financial, operational and strategic
aspects, placing too little emphasis on the key people and skill
requirements necessary to achieve their long-term objectives.
As a consequence, a damaging imbalance between growth targets
and the core capabilities required to achieve them can easily
occur. Although the effects are not always immediately obvious, the
inability to predict key skill requirements undermines business
performance over an extended period, resulting in missed growth
targets, mediocre productivity and higher recruiting costs. Read more.
Special Report: The Future of Energy
In this Executive Insights Special Report, "The Future
of Energy", L.E.K. Partners John Goddard, Florian Funke, Clare
Chatfield and Karin von Kienlin intend to spark a discussion about
these trends and their impact. The energy environment is shifting;
demand is moving to the developing world. By 2035, the
International Energy Agency (IEA) expects China to consume about
80% more energy than the U.S. In addition, the IEA predicts that at
least 90% of the world's growth in energy demand will come from
non-OECD countries during the next two decades. The ten trends
identified in this report will transform the energy world, altering
the way we produce, distribute and consume everything from fossil
fuels to renewables. With the shift in energy demand and supply,
one thing is certain: it has never been more important for
countries to diversify their sources of energy by cultivating new
suppliers and securing access to alternative pipeline routes. While
that is happening, consumers will take energy into their own hands,
increasingly localizing energy as the traditional value chain
recedes into history. Read more.
Food & Pharma: How to Succeed in Dietary Supplements
Nutraceuticals are increasingly
becoming power plays for both Big Food and Big Pharma companies.
Driving this phenomenon is the draw of capturing a growing number
of consumers who are seeking proactive health solutions to avoid
negative pharmaceutical interventions. Here's a basic breakdown of
issues companies should consider before they get in the
game. Read more.
Delivering Integrated Healthcare in the Community:
Understanding the Opportunities of a Radical New Model
Structural change is occurring in the English healthcare system
as commissioners move towards an integrated healthcare system that
combines community-based healthcare and social care under one
commissioning and provision structure.
The challenge facing healthcare providers in the public, private
and not-for-profit sectors is how to reposition themselves to take
advantage of the opportunities of integrated healthcare, how to
mitigate the risks, and how to reconfigure their capabilities to
deliver the scale and type of care needed.
In this Executive Insights, Jonathan Sparey, Ben
Faircloth and Eilert Hinrichs examine the challenges of this
opportunity, and explain why L.E.K. believes that the strategic
rewards of early involvement over the next one-two years will
justify the risks. Read more.