1 The BEDC Model Introduction

How employers rank college grads: CategoryMean Rating % giving high (8-10) rating % giving low (1-5) rating Teamwork7.039%17% Ethical judgment6.938%19% Intercultural skills6.938%19% Social responsibility6.735%21% Quantitative reasoning6.732%23% Oral communication6.630%23% Self-knowledge6.528%26% Adaptability6.324%30% Critical thinking6.322%31% Writing6.126%37% Self-direction5.923%42% Global knowledge5.718%46% 2

What employers want Only 13 percent said transcripts were very useful with another 16 percent saying fairly useful, compared to 33 percent who said “not useful.” What the employers appear to want are intensive, personally evaluated projects, not more testing. Only 7 percent said it would be “very effective” to have the results of multiple choice tests of general knowledge, and there was little interest in tools that would compare on colleges’ graduates to another on critical thinking tests. In contrast, 46 percent said it would be very effective and 70 percent said it would be very or fairly effective to have students complete an advanced project as seniors, demonstrating knowledge in the major and in problem- solving, writing, and analytic skills. And 69 percent said it would be very effective and 83 percent said it would be very or fairly effective to see an evaluation of a supervised internship where students apply college learning in a “real-world setting.” 3

4 Underserved Businesses Industry Mentors Faculty Student Teams Elements of the BEDC Model Over 300 businesses served with over $10 million in beneficial value and hundreds of jobs created and retained Faculty of five higher education institutions involved in curriculum development Over 700 student consultants in four educational institutions have had highly successful consulting experiences Hundreds of Rotary Club, consulting firms, alumni, and major enterprise professionals have assisted

5 Underserved Business Industry Mentor Faculty Student Team BEDCSmall Business Administration City, County and State Governments Large Enterprises  Extended technical assistance  Create emerging business cluster  Connect to large enterprise value chain  Direct input to BEDC advocacy  Increase business survival rate  Economic development for the region The BEDC Model – Benefits to Business

6 The BEDC Model – Benefits to Students Underserved Business Industry Mentor Faculty Student Team Real business experience Mentorship Advanced Curriculum Complex Problem Solving Project Management Multicultural Context Teamwork  Relate-create-donate best practices  Real and complex learning experience  Student voluntarily commit 2 to 3 times as many hours to work  Multicultural context  High-stakes teaming  Performance visibility Leadership Development

7 The BEDC Model – Benefits to Mentors Underserved Business Industry Mentor Faculty Student Team Meaningful Mentorship Social Responsibility Create Diverse Supplier Pool Economic Development Reach Multicultural Markets  Minimal administrative overhead  Meaningful contribution tracked with business metrics  Social venture capital and social responsibility  Enterprise value chain

8 The BEDC Model – Benefits to Faculty Underserved Business Industry Mentor Faculty Student Team Hands-on learning with real business Direct feedback on student readiness Advanced curriculum Emerging businesses Multicultural markets Alignment with other educational institutions Link to business community Deeper relationship with students  Currency and relevancy  Deeper trust and deeper learning  High visibility

9 Student Consultant Expectations 50 to 100 hours of work outside of class Professionalism in dealing with team members, businesses and mentors Deliverables must be of the highest quality and completed on time Work must be of beneficial value to the business as judged by practicing professionals

10 Week Prepare for Kick-off Meeting Assign teams Team forming Review and execute consulting contract Interview and research business Draft, revise and execute team contact Draft and revise project management plan Start secondary research Draft and revise business case statement Analyze and organize secondary research Plan, draft and test primary research Conduct primary research Analyze and organize primary research Draft and revise preliminary recommendations Draft final report Draft, revise, rehearse presentation Revise final report DUE Consulting Contract Team Contract Project Manage- ment Plan Business Case Statement including SWOT analysis Primary Research Instrument Prelimin -ary Recom- mend- ations Draft report Final Prese nt- ation Final Report

11 Deliverables Week 2Executed Consulting Contract Week 3Team Contract Week 4Project Management Plan Week 5Business Case Statement and SWOT Analysis Week 6Primary Research Instrument Week 8Preliminary Recommendations Week 9Draft Report Week 10Final Presentation Week 11Final Report

12 Ice breaker exercise

13 Assignments Read Preface Read Module 3 on Teaming and Project Management Compile resume and apply for a business consulting project

14 Businesses Rustica – Marketing of an Italian restaurant with Indian- American owner. Nature’s Pantry – Marketing plan for woman-owned health food retail business Redapt – Competitive website analysis. Simplicity Décor – Thai-American owned gift and interior design shop.