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

Time Mon. of Week 3 Time Wed. of Week 3

9:30-10:15 Ratio Analysis III 9:30-11:20 Quality Assurance I

10:15-10:25 Break 11:20-11:30 Break

10:25-11:30 Business Ethics I 11:30-1:00 Quality Assurance II

11:30-12:10 Lunch Break 1:00-1:40 Lunch Break

12:10-1:55 Organization Change 1:40-2:50 Quality Assurance III

2:05-3:15 Market Research I 3:00-4:15 Practicum

3:00-4:15 Practicum

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/Acct

Operations

Management

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