Integrated Business Experience (IBE) Learn Business. Develop Business Solutions

Integrated Business Experience  Designed to Allow You to Apply What You are Learning  Two Parts <Integrating Four Required Core Courses <Practicum

Integrating Courses Integrated Business Experience MGMT 330 MGMT 346 MRKT 310 FINA 362

Integrating Courses  Use the Same Material as Other Sections of these Courses  Change is Interwoven Scheduling <Classes scheduled together as a block <Actual teaching schedule depends on needs of course  Content for one course could take more than 75 minutes in a day if it is needed for a topic  Other days the course content could be less, or even none  Focus of Scheduling is Just-In-Time Learning for the Practicum

Example of a Weekly Schedule TimeMon. of Week 3TimeWed. of Week 3 9:30-10:15Ratio Analysis III9:30-11:20Quality Assurance I 10:15-10:25Break11:20-11:30Break 10:25-11:30Business Ethics I11:30-1:00Quality Assurance II 11:30-12:10Lunch Break1:00-1:40Lunch Break 12:10-1:55Organization Change1:40-2:50Quality Assurance III 2:05-3:15Market Research I3:00-4:15Practicum 3:00-4:15Practicum

Experience  …most management practitioners believe that it is best to learn and develop softer skills through practice with feedback… -Pg. 23, Business Schools on an Innovation Mission AACSB International Task Force Report, 2010

Practicum Structure (FINA/ACCT/IBUS/MGMT MRKT 499 ) Student- Run Company MBA Advisor Course Content Faculty Advisors

Student Company Business Operations Finance/AcctOperationsManagement Other Functions Charity Operations Operations Other Functions

Course of the Practicum Organize Company Develop Business Plan Apply for Loan Manage Business Assess

Details-Fall IBE  9:30-4:15 MW  You must apply for the program <Ensure that you are or will be admitted to the COB* <Application will be in MH 150 <Will take applications before registration starts so you can guarantee access to the classes  You must take all five classes simultaneously  *Business minors and those in business-related programs may be approved, but COB students have priority access to seats

Application  The report also strengthens the argument for business schools to be tightly integrated in both academic and practice communities. We should move beyond debates about how far “the pendulum” should swing… -Forward, Business Schools on an Innovation Mission AACSB International Task Force Report, 2010

Phase I: Organize the Company  First Two Weeks <Team Expectations Contract <Temporary Elections <Company Expectations Contract <Company Leadership Elections <Company Rosters <Company Minutes & Action Items  Organization is completed during phase II <So the organizational structure reflects the idea

Phase II: Develop The Business Plan  Next Three Weeks <Preliminary List of Business Ideas <Preliminary List of Charity Ideas <Business SWOT <Service SWOT <Final Decisions on Business and Service <Develop Mission Statement  Form Functional Groups  Develop Organizational Chart  Develop Financials and Inventory Plan  Develop Final Business Plan

Phase III: Apply for a Loan  Weeks 6 and 7  Create a Presentation from Business Plan  Practice Presentation  Turn in Loan Documents  Present to Bank Loan Team  Presentation may also include outside parties <Make necessary changes to get loan approved  If get a loan, complete necessary final paperwork  Final run-through of Accounting and Control Systems

Phase IV: Manage the Business  Rest of the Semester  Manage the Business  Develop ongoing Reviews of Progress  Periodic Reporting of Inventory to the Bank  Develop a Personal IBE Reflection  Pay off Loan  Donate the Rest to the Chosen Charity  Complete a Company Annual Report

Phase V: Assess  Last Week of Class  Supervisor Feedback  IBE Course Evaluations  IBE Practicum Debrief  Peer Evaluations  Final Presentations