Our role of being a commercial subsidiary of a globally recognised higher education institution brings with it considerable responsibilities and the need for a clear sense of purpose. To assist the company in ensuring that the right balance is struck between commercial initiative and innovation, and the principal purposes of our parent institution, we continually check, review and implement the requirements set out in a series of governing guidelines.
LSE Enterprise Ltd, as a separate subsidiary entity, has its own Board of Directors comprising a balance of senior academics, governors from the business world and senior School officials. It operates under a Memorandum of Understanding (MOU) with LSE, which is reviewed by its Board and by LSE's Council each year. The MOU sets out our mission, values and guiding principles, as below.
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Our mission is to bring benefit to LSE through commercial activities, drawing upon the intellectual resources of the School, which make a direct contribution of profits to the School, enhance the total remuneration of the School's academics, and extend and enhance the reputation of LSE and its academics with business, government and other external organisations.
Quality: all services we provide will be of the highest quality, consistent with the reputation of the School.
Partnership: we work in partnership with the School, its academics, clients and business partners. To sustain our contribution to the School these relationships must benefit all parties.
Value for money: we will always endeavour to provide services in a cost-effective way so as both to maximise the achievement of objectives for the School and to ensure that clients remain satisfied with the value of the services provided.
Our guiding principles
• We will work in close co-operation with all parts of the School, contributing to its cohesiveness;
• We will endeavour to spread the benefit of opportunities across the academic community;
• We will make use of academics' available time so that the work they do through us will not detract from their principal academic duties;
• We will endeavour to ensure that LSE academics always have a visible leading role in projects, even where we need to engage others so as to add appropriate skills or to scale up the activity to protect market share and grow profits for the School's benefit;
• We will have regard not only to the financial risk to LSE Enterprise of any new initiative, but also to any risks to the reputations of the School and its academics, or to its relationships with others;
• We accept that, as circumstances change, initiatives developed by us may make their contribution most effectively by being recognised as mainstream activities of the School;
• Where possible, we will work with other parts of the School to convert our consultancy and custom programme clients into strategic partners of LSE;
• We will not engage in and undertake work that is unethical or socially irresponsible;
• We will ensure, where pertinent, through our contracting and management of any contract, that the academic's position of independence and objectivity is inviolable.