Student Teams Assist Local Small Businesses with Award Winning Consulting
March 11, 2019
FOR IMMEDIATE RELEASE
Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4850 or email@example.com
Orlando, FL – The Small Business Institute® (SBI®), the premier provider of professional development for those engaged in experiential student team consulting and related entrepreneurship education, research and activities and the link between business, education and community, recently announced that two (2) student teams from the University of Central Florida’s College of Business Administration (UCF CBA) were winners in its annual Project of the Year (POY) competition, taking 1st place in the 2019 ‘Graduate Specialized’ category and Honorable Mention in the 2019 ‘Graduate Consulting Project’ category, respectively.
In competition with MBA teams from across the country, the UCF CBA team of students on the strength of their consulting project for a local company, CE Avionics of Sanford, FL. The company, a leader in avionics repair and installation, received the team’s assistance in the form of an in-depth marketing plan which provided full industry and competitive analyses and an implementation plan for penetrating a new market, including pricing and promotional strategies.
The team of Shardeh Berry, Kasimu Greenidge and Hannah Gehring were awarded an Honorable Mention in the ‘Graduate Consulting Project’ category for their consulting work for Winter Springs, FL-based Tuskawilla Lawn Maintenance. The team’s report included an outlook of current industry conditions, in-depth financial analysis, and recommendations for improving the organization’s systems and processes. Both teams worked with faculty advisor Dr. Carl Blencke, an instructor for the UCF CBA’s Department of Management, as part of a management class.
“Congratulations to our students who won this prestigious recognition,” said Ron Piccolo, PhD. and Galloway Professor and Chair of the Department of Management. “Our course offering utilizing the SBI® program is an important educational partnership between UCF and the FSBDC which contributes to the quality of the student educational experience at the University of Central Florida.”
“We are so pleased by the success achieved by these impressive students,” commented Eunice Choi, Regional Director for the FSBDC at UCF. “This is yet another avenue for the FSBDC at UCF and UCF itself to support small businesses in Central Florida while also introducing UCF students to the world of business consulting. It demonstrates UCF’s commitment to our community and to growing the local economy, and the FSBDC’s contribution to furthering UCF’s educational mission.”
The Florida SBDC at UCF (FSBDC) sponsors the Small Business Institute® in Central Florida and, in conjunction with the Department of Management at the UCF College of Business Administration, manages the SBI® program locally. It recruits and evaluates FSBDC clients for the program, lends FSBDC consultants as SBI® case supervisors and provides a range of guidance and support. The FSBDC is part of the UCF Office of Partnership and Innovation.
At the UCF College of Business Administration, SBI® is a graduate‐level elective course. Students enrolled in the class provide management consulting services to local small businesses. Each student team has direct contact with the client and produces a professional case report. The report is the ultimate product of the program and is tailored to each business. Case study reports have included market research, marketing plans, competitive analysis, advertising strategy, customer surveys, strategic plans, financial analysis, human resource manuals and business plans.
The SBI® Program is offered as a full-semester credit course through the CBA’s Department of Management. During the semester, the student teams oversaw and implemented extensive research and analysis to determine industry best practices; met regularly to understand company processes and procedures; and performed wide-ranging analysis of business and industry strategies and performance. As a result of their efforts, the students were able to provide a comprehensive analysis and set of recommendations.
SBI® is a nation‐wide program that provides high‐quality business assistance to companies in need while providing an extraordinary opportunity for university students to learn through field case studies. Each project is led and conducted by a group of students under the supervision of an SBI® Director or faculty member. The experience is often cited by students as being one of the most rewarding of their academic careers. In today’s collegiate environment there is a strong emphasis on experiential learning, and the SBI® has been at the forefront of this movement for over thirty years.
— FSBDC —
About the FSBDC at UCF
With its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the Florida SBDC at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Research & Commercialization and the Florida SBDC Network. The FSBDC at UCF provides business seminars and no-cost, one-on-one business consultation to emerging and established businesses. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.
In 2016, the FSBDC at UCF served over 2,400 entrepreneurs in Central Florida through consulting and training, resulting in nearly 6,700 jobs created, retained or saved; $980 million in sales growth; $92.7 million in capital formation; $154.6 million in government contract awards; and 120 new businesses started.
About the Florida SBDC Network
For over forty years, the Florida SBDC Network, the state’s principal provider of business assistance [Fl. Stat. 288.001], has nourished a statewide partnership between higher education and economic development to provide existing and emerging small and medium-sized business owners with management and knowledge resources that enable overall growth, increased profitability, and economic prosperity for Florida’s economy.
Since 2011, Florida SBDCs have provided 513,107 hours of professional business consulting to 74,669 client businesses, resulting in 252,955 jobs created, retained, or saved; $33.3 billion in sales growth; $2.6 billion in government contract awarded; $1.4 billion in capital investments acquired; and 4,159 new businesses started.
A statewide network of over 40 offices, the Florida SBDC is funded in part by the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network, headquartered at the University of West Florida, is nationally accredited by the Association of SBDCs and is a 2016 recipient of the President’s E Award for Export Service. Florida SBDC services are extended to the public on a nondiscriminatory basis. Language assistance services are available for individuals with limited English proficiency. For more information, please visit www.FloridaSBDC.org.
FSBDC at UCF | 3201 E. Colonial Drive | Orlando, FL 32801 | p 407.420.48