Partnering with Hanover College

By Jerry Johnson
Executive Director
Business Scholars Program
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Madison Chamber & Economic Development and the Business Scholars Program (BSP) at Hanover College have established a collaborative partnership to enable Chamber members (including businesses, nonprofit organizations and governmental units) to more easily access the BSP’s live case consulting projects. Working in conjunction with its membership Madison Chamber & Economic Development will assist the Business Scholars Program in identifying prospective clients who could potentially avail themselves of the benefits of a consulting study conducted by Hanover College senior Business Scholars. No fees are assessed for this consultation.

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Business Scholars Program Overview

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Established in 2004, the Business Scholars Program at Hanover College is an experiential business education program that enables students to learn and practice business skills and apply knowledge gained from faculty with extensive experience in industry and commerce. In addition to a rigorous schedule of classroom instruction, the Business Scholars take part in numerous workshops and networking events and participate in a project-based, paid internship during the summer between their junior and senior years. The capstone educational experience for the Business Scholars is a live case consulting project undertaken during their senior year.

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Live Case Consulting Project Overview

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The culminating experience for senior Scholars is the Business Strategy course. Business Scholars are required to execute a consulting project or “live case” analysis for a small to medium-size organization.  Projects typically involve a strategic audit, including the development and testing of business alternatives, and a recommended course of action for the organization.  Because projects often require the analysis of sensitive information Business Scholars will sign a confidentiality agreement with the client at the beginning of the engagement. 

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Over a 14-week period Business Scholars conduct analysis and research appropriate to the industry in which the company operates and, more specifically, the business issues identified by the client.  Typically, Business Scholars will be split into two separate teams: (1) the Internal Analysis Team will concentrate on financial and accounting processes, human resources practices (may include employee survey), operations and business structure; and (2) the External Analysis Team will study the industry and competition, products and services offered and markets served (may include demographic and market research studies).

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Client Requirements & Time Commitment

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The consulting project should not disrupt the organization being studied and requires a minimal time commitment on the part of the leadership of the enterprise.  In order for Business Scholars to successfully execute a project with significant real value to management, however, clients will be asked to provide information/documentation relevant to the organization and issues at hand.  Clients are also asked to participate in two important meetings: (1) the Project Kick-off Meeting, scheduled during the first two weeks of the term, wherein the various issues that the client company wants addressed are analyzed and evaluated and the process for ongoing communication and status updates is identified; and (2) the Final Project Review Session, conducted during the last week of the term and completely facilitated by the Business Scholars. During the review Scholars will deliver a professional presentation briefing the client on their findings and key recommendations. Scholars will also provide a detailed report to the client.

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Results

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Hanover College Business Scholars have successfully completed numerous consulting engagements with a wide variety of organizations operating in diverse economic sectors. To date, client feedback has been overwhelmingly positive.