UNB Students Help Local Businesses Solve Real-World Challenges
Today’s businesses face unique challenges, and the UNB Faculty of Management’s MBA program continues to develop students ready to find solutions.
By matching students with entrepreneurs and businesses of all sizes, students investigate the challenges businesses are looking to overcome in order to take the next step forward.
Whether it’s seeking help in strategic planning, marketing, finance, organizational structure or human resources management, MBA students taking the Applied Integrative Studies course in their final year of the program draw on their expertise to local companies
Andrew Lockhart (MBA 16‘) is the Economic Development Specialist with Ignite Fredericton. He is teaching the Applied Integrative Studies course this term and is mentoring students in partnership with both Ignite and the Local Market Taskforce.
Lockhart says the MBA students gain the skills and confidence to recognize and execute great ideas through real-world business challenges, all delivered in a consultation-style environment.
“Students within the program are already experts in many fields and bring their experiences to the table, whether professional or educational,” said Lockhart.
While some students are ready to jump into their next career, Lockhart noted others are using their MBA studies to improve upon their skill set to move forward within their current jobs.
“We work with real businesses who face real-world challenges that require real-world solutions,” says Lockhart. “Participating businesses are invited to consult with students to provide them with the details needed to develop a plan that will help solve the problem they – the business – are facing.”.
“In some cases, this is a great opportunity for those students not yet in the workforce to gain hands-on experience with a real business,” added Lockhart.
Ignite Fredericton’s Taskforce was developed as a venue for local business support organizations to hold monthly meetings, during which they help local businesses reach their individual or collective goals.
“We help make sure our local businesses are getting the resources they need to succeed,” said Lockhart, who added that the Taskforce also provides forums on several topics, including funding needs and consulting services.
Lockhart worked with the Taskforce to help identify local businesses needing support and presented UNB’s Applied Integrative Studies course as an opportunity for them to take advantage of the professional and educational experiences offered by UNB’s MBA students.
For Lockhart, it’s important for MBA students to provide feedback and recommendations that are based on facts and research, using the research tools and resources available through UNB and partners like Ignite Fredericton and the Taskforce.
“Students develop confidence in knowing that they are the experts, so their recommendations are going to be taken very seriously,” says Lockhart. “I think that’s a really incredible thing to know; that the education they’ve received throughout this MBA program could help move a business in a very positive direction.”
Manju Gill is an international MBA student from India. She completed her first MBA over a decade ago before beginning a career working in the field of financial research.
Gill later obtained a Master’s in Sociology before earning a diploma in Sustainable Rural Development.
Despite her academic achievements and credentials, Gill sees herself becoming a strategy consultant or management consultant. She says the experiential learning provided by UNB’s MBA program is helping her take the next step in her career.
She says it’s important for students to have one-on-one, face-to-face interactions with business clients in order to better understand their problems.
“We are consultants in this particular course,” says Gill.
Gill says the overwhelming benefit of applied integrative studies is in how the program is organized, with students presenting on a weekly basis and sharing in-class updates where their peers can offer ideas and discussion on each team’s approach.
“That’s the core of the program — you are working with real-world businesses. You are trying to understand their challenges, their issues and at the same time the course is preparing you as an individual,” says Gill.
As a graduate of UNB’s MBA program himself, Lockhart said an important part of his studies was the ability to work with the local business community, adding that the Applied Integrative Studies course helps to make that a reality for both students and businesses who participate.
“The work being done by these students has real benefits for the businesses that they’re working with,” says Lockhart. “This isn’t a hypothetical scenario. These businesses came to us because they’re looking for assistance and support, and each student has the opportunity to play a role.”
This story is sponsored by the University of New Brunswick Faculty of Management.