Business Solutions Center Adds Context to Classroom Skills

A relevant business education in today’s world not only teaches the theory behind business, but also allows students to put that theory to work on actual problems facing real companies.  At Tippie, hands-on projects are not a new concept, but starting this year students will enjoy an even more extensive array of consulting opportunities with the opening of the newly created Business Solutions Center.  The Center will develop project options, manage the projects offered, and match students’ interests and skills with consulting projects that will capitalize and expand upon expertise gained through classroom experiences.

Working with global, local and regional companies, Business Solutions Center director Rich Boulger identifies projects that are uniquely suited to Tippie MBA students.  These projects will give Iowa MBAs in-depth experience that will hone business skills and provide them with the opportunity to deal with customers and coworkers in a business context.  Project examples include developing strategic direction for a small business, building a growth strategy, conducting an internal component or market segment analysis, and generating overall business strategy for a non-profit organization.

“Today’s managers are operating at the intersection of finance, marketing, operations and strategy; combining knowledge in these functional areas to create ideas and solutions that will be beneficial to the client company,” Boulger said.  “The best projects are those that allow students to operate at that intersection.”

This cross-functional focus means most projects involve issues from marketing, finance, operations, and other disciplines. Iowa MBAs must combine skills learned in class with knowledge acquired during the project to develop a meaningful business solution. In addition, MBAs learn how to handle finite projects that business leaders regularly oversee, while gaining exposure in the companies they serve.

Corporations are anxious to take advantage of the services offered by the Business Solutions Center. In addition to knowledge of the latest business techniques, MBA students offer ideas that are not bound by day-to-day issues or prior experience. They are able to think creatively and see the big picture. In addition, companies see student consulting projects as a way to receive value while mentoring the next generation of business leaders. “There is almost no situation where students can’t add value to a company,” Boulger said.

The Center’s efforts kick off next spring with several 15-week projects completed by teams of four or five students with oversight by a faculty mentor. By 2008, all first-year MBA students will participate in at least one hands-on opportunity in their second semester. After that, the Center’s goal is to be fully established as a Center supporting business excellence engaging students, faculty and the business community in an efficient and effective manner.

www.biz.uiowa.edu/fulltimemba/academics/consulting.asp

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