Rutgers Business School Student Experiential Learning Program

The Rutgers Business School (RBS) Experiential Learning Program is designed to provide undergraduate business students in their junior or senior year of study at RBS campuses (Newark & New Brunswick) in the departments of Accounting; Supply Chain Management/Marketing and Management & Global Business the opportunity to engage in experiential learning using a Problem Solving Approach to small business case study clients in Northern & Central NJ. The student team-consulting projects will be the central component of 3 credit elective courses to be held each Fall & Spring semester in the respective departments. Small Business clients will be referred from various business databases to include NJSBDC clients; CUEED, and various chamber association collaborative partners in NJ.

 

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What is a Problem Solving Approach?

A Problem Solving Approach is a high impact experiential learning methodology that allows students to engage on a collaborative assignment or project addressing a specific problem1 resulting in greater transfer and application of theoretical knowledge to a current practical situation. In our program the small business identifies an ongoing problem in their business and the students have the opportunity to come up with solutions and recommendations that the business can immediately implement. The advantages of using a problem solving approach are: (a) it’s a solution oriented process; (b) students apply their academic knowledge to a real life business problem in real-time; and (c) small businesses participating in the program receive immediate solutions to a current problem and thus enhance their commitment to the process.

 

Areas of Business Operational Problems

Problem areas of consideration may include but are not limited to the following:

Accounting problems

  • Business plan management
  • Establishment/enhancement of information systems
  • Financial structure and reporting
  • Regulatory interaction and compliance
  • Costing and Pricing
  • Performance measurements

Supply Chain Management & Marketing problems

  • Procurement and Sourcing
  • Contract Negotiation
  • Product and service
  • Branding
  • Advertising and promotion
  • Pricing
  • Distribution
  • Inventory management/control
  • Supply Chain systems

Management & Global Business problems

  • Analyze/update existing business plan implementation issues
  • Strategic Planning/Management
  • Operational Systems management
  • Customer management
  • People Management & HR systems
  • Project/Program needs assessments
  • Information management
  • Decision Making issues

 

Small business participation criteria:

  1. Gross revenue: $300,000 minimum
  2. # of Years: 2 years of business Operations
  3. Employées: 2 Employées minimum
  4. CEO engagement & commitment
  5. 2-page Executive Summary
  6. Support Documents: 2 Year Tax Return; Balance Sheet; Income Statement
  7. Business Location: North or Central NJ (Commercially Located Business, preferred but not a must)

 

Program Objectives/Outcomes

The program objectives are as follows:

For the Students:

  • Students have the opportunity to engage in team consulting & peer learning
  • Students have the opportunity to gain problem solving abilities by applying classroom knowledge to real-life business problems while assisting small businesses in solving crucial business problems
  • Students have the opportunity to enhance their intellectual, analytical, research and practical skills while learning about the world of entrepreneurship and small business
  • Allows students to gain soft skills, personal growth, discipline, communication skills and build on their civic engagement
  • Students will strengthen their portfolio of job-relevant skills, thereby improving the students’ value for career placement potential in the marketplace

For the Small Businesses:

  • Have a team of 4-5 students helping you with a current business problem
  • Receive recommendations and business solutions to help your business growth
  • Have the opportunity to support and strengthen students for job relevant skills and experience
  • Have the opportunity to give students a practical knowledge of entrepreneurship and real life small
  • business management
  • Have the opportunity to collaborate

 

If you are interested in participating please send an email to: Dr. Tendai Ndoro at experientiallearning@business.rutgers.edu. Please Include a brief description of the business problem(s) that you need addressed. Once we receive your response we will let you know which department will be working with you on your business problems. A Rutgers Business School Professors teaching the course associated with the area of your business problem will contact you for an interview. This is a free technical assistance resource to your business and you will have 4-5 Students working with you on the project with faculty administration.

 

Apply Now

Please click here to apply now.