Newspapers / UNCW Today (University of … / April 1, 1990, edition 1 / Page 3
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Small Business Institute Employs Real World Learning iiiii; A commitment to "reality-based" education with healthy competitive ness among students is the driving force behind the Small Business In stitute at UNCW. Established on campus in 1976, SB! teaches stu dents to analyze the problem areas of an existing business or the feasi bility of starting a new business. "We’ve assisted over 100 busi nesses within a 60-mile sweep of Wilmington," said Steve Harper, di rector of the institute and a professor of management in the Cameron School of Business Administration. According to Harper, students par ticipating in SBl learn things they can’t learn from a book. Governed by the U.S. Small Busi ness Administration, SBI is one of many such contracted programs with business schools throughout the country. The institute serves as an extension of the SBA and provides management assistance at the local level. Clients eligible for assistance from UNCW’ ’s program must live in Brunswick, Pender or New Hanover counties. Harper interviews each ap plicant to determine the extent of their needs and the nature of their business to decide whether the insti tute can provide assistance. He then assembles case portfolios of the se lected businesses. Teams of students who have been taught the fundamentals of running a business are paired with cases that match their particular interests. The majority of businesses requesting as sistance are in the retail, service, or manufacturing sectors. The teams meet with their clients and identify several areas of the ex isting or proposed business to ana lyze. This often includes marketing strategies, accounting and computer systems, inventory analysis, or re search and development. Once a plan is devised, it is forwarded to the Small Business Administration for approval. The analytical process is a chal lenging one. The students determine what aspects of the business must be researched and identify where they get the information, said Harper. This method improves their diagnos tic skills as well as solution skills. "Part of the intention of the course is having the students teach them selves," he said. Computers play a major role in this problem solving. Software pro grams that simulate business situa tions allow the students to make sen sitive analytical decisions about such matters as borrowing money or site location. "The computer simula tion is very dynamic and sophisticat ed. TTie students learn how changing one component affects the other ele ments in a business. They’re always anxious to see what impact their de cisions have," said Harper. "It’s all a part of the students’ personal devel opment and confidence building." The students meet with their cli ents from six to 20 times in a 10- week period. At the end of the se mester, they must submit a compre hensive report of their findings to the client. Harper, and the SBA. Hie government examines each re port to determine if the teams are giving the appropriate level of assis- ■ tance. The client reviews the team’s report to see if it meets with (heir level of expectation. And Harper grades the reports on accuracy and content. According to Harper, the clients and the federal government have been impressed with the work of the students. "I definitely think they’re one of our best programs," said Ei leen Mulroony, SBA business devel opment specialist and coordinator of SBI. "The UNCW students have consistently conducted thorough and in-depth feasibility studies of new businesses and have found practical solutions for problems of existing businesses." The beauty of the Small Business Institute is that students are able to contribute something to the commu nity. And they learn to apply busi ness theory. "When they see the rel evance of what they’re doing they get excited," said Harper* "Projects like these make education tangible. The best way to learn, is to learn by do- rt mg. Steve Harper Business Students Act as Consultants Students Intern at Computer Corp. UNCW and Dove Computer Corpo ration of Wilmington teamed up to conduct a nationwide survey of autho rized Apple computer retailers. The recently completed six-month survey helped Dove obtain significant data on the FAX modem market and it offered 55 marketing research students a broader learning environment. A FAX modem is a device installed in a computer that allows the user to send a document directly to a receiv ing computer, eliminating the need for a FAX machine. The FAX modem also allows the receiver to review the faxed message on the computer screen to determine whether or not to print it. A major advantage of the Dove FAX modem is that it allows the user to do other tasks while faxed messages are being transmitted and received. This device also makes it possible to send one message to hundreds of personal computers without having to physical ly FAX them. "The study revealed a tremendous market for a low cost, high speed FAX modem that allows users to send and receive high quality text and graph ics," said Vincent Howe, assistant professor of marketing research at UNCW. "Previous attempts to pene trate this market have failed because past products have been too costly, too slow, and too unreliable." Patrick J. Dane, Dove’s vice presi dent of sales, noted that over 1,000 Apple retailers were contacted and 564 were extensively interviewed. "We believe that the marketing re search students’ study is the most ex tensive one to date of the fax modem market," he said. As a result of the market survey project. Dove Computer and UNCW have committed to work together to provide students with additional op portunities. Dove has agreed to supply internship opftortunities, help direct independent studies, and supply infor mation for class projects. In addition. Dove will provide the Cameron School of Business Administration with one Macintosh computer each semester to assist in developing students’ comput er skills. Dane stated that the relationship with UNCW is beneficial to both par ties. Dove is able to provide the uni versity with additional computer tech- Bob Clopper Student consultants working through SBI offer advice to business owners that could mean the differ ence between financial ruin or rag ing success. The students’ level of commitment is exceptional. They pride themselves on their accuracy and resourcefulness. "It was a great experience because we met with a real-life client and re presented the university in a certain capacity," said Bob Clopper, a stu dent taking small business manage ment last semester and a participant in SBI. Clopfter and his two teammates worked with a client who wanted to establish a retail business geared to wards the teen-age market. The cli ent was interested in tai^eting the market, analyzing a suitable location for the business, establishing vendor relations, and evaluating the compe tition. The students researched these areas and presented their client with p>ossible solutions. They also worked up promotions and pricing strate gies, capital requirements, and fi nancial projections. The end result was a comprehensive plan that could be presented to a financial institu tion for loan purposes. "The client was ecstatic about the results. It far exceeded her expecta tions," said Clopjjer. The project took approximately 150 student hours to complete. 'It was helpful working as a group. We each had a certain part," said Clop per. "And reports like this give cli ents a realistic view of what they’re up against." nology, and supply a real-world busi ness environment for students. We have benefited from the market infor mation supplied by students and we look forward to continuing class pro jects with UNCW." Beth Lynge, student intern with Dove
UNCW Today (University of North Carolina Wilmington Alumni Newsletter)
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April 1, 1990, edition 1
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