SC businesses benefit from student export projects | MidlandsBiz

SC businesses benefit from student export projects

Dec 12, 2012

Small businesses discover new opportunities through Moore School student projects
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COLUMBIA, SC - December 12, 2012 - The South Carolina Small Business Development Centers (SC SBDC) and Professor Frank Rydzewski of the Darla Moore School of Business recently joined efforts to bring real world experience in export planning to students. IMBA and undergraduate business students from Global Competitiveness, a class examining growth opportunities in both domestic and international markets, were matched with SC SBDC clients in a consulting capacity.

Ten teams of business majors worked for six weeks to develop export plans for a variety of products and services. Working alongside SC SBDC business consultants Beth Smith, Bob Pettit, Forrest Norman, Pete Oliver and Mickey Conway, students learned the challenges and rewards of negotiating the international business environment. Final formal presentations to the clients were held at the Moore School.

?This consulting project demonstrates to students how difficult it is for a smaller company to expand internationally,? said Prof. Rydzewski. ?The students received positive feedback from their clients for their work. A number of clients intend to implement student recommendations. It is a great partnership between our college, the SC SBDC and South Carolina companies.?

Student teams researched viable international markets, with a few teams advising clients that international expansion wasn?t currently a viable option. Students examined licenses, intellectual property issues, financing, shipping costs, insurance, competition, roadblocks, taxes, government contracting opportunities, political climate, partnerships, customs and the business friendliness of more than a dozen countries.

Pictured: Business students from the Moore School presented export projects to their SC SBDC clients on the first week of December. From left to right: SC SBDC Consultant Mickey Conway, Mahdis Gharaei, Yaniss Lassal, Andre Bahri, Erin Christian, Tyler Albright, Professor Frank Rydzewski and Sammy Naisraholli owner of BODE Health Drinks.

?At first I was intimidated,? said Trey Gordner, undergraduate international business student. ?But through the process I came to realize how much I?ve learned in business school. I enjoyed working with real people, real money and real businesses. It makes you realize that you could have a positive impact on someone?s livelihood. I hope I have another project like this one in the spring.?

The student teams also made recommendations about bi-lingual marketing materials such as websites, trade show opportunities and unique product angles in countries where competition exists. Often the projects focused on consumer products such as leisure pillows, surfboards and health-category beverages. There were also B2B products and services such as metal fabrication, fire equipment and organic cosmetic products.

Like all the SC SBDC business consultants involved, Beth Smith of the Spartanburg Area SBDC directly facilitated the working relationship between her clients and the student teams.

?My clients enjoyed the time with the students because they got to look at their businesses with the fresh perspective of young people,? Smith said. ?In every case the clients implemented at least part of their student team?s recommendations. That is a testament to the abilities of the students, their advisor and the willingness of the business community to consider new options.?

Reflecting on the project, IMBA student Liz Buncher said, ?We had to make tough decisions in our recommendations, some of which were not in line with the owner?s vision, but which we felt were best for the company. The assignment was challenging and it was a great opportunity to put our International MBA into practice.?
At the end of the presentations, each client was presented with a faux invoice for services underscoring the value of a well-considered export plan. One business owner was near tears when she spoke about the results she received from her student team, a study she wouldn?t have hired an independent consulting company to conduct. She was thrilled with the results and now sees growth opportunity for her small business in ways she had never considered.

Joan Combie, President of Montana Polysaccharides, located in Winnsboro, South Carolina said of her team?s presentation, ?Earlier market evaluations of other aspects of my company done by professionals would get a very low grade compared with the A+ project of my students. A recent trade journal devoted to the cosmetics market in Brazil shows strong support for my students? conclusions. Their invoice showed excellent value for the money.?

Information on the international business program at the Moore School can be found at http://mooreschool.sc.edu.

Information on the SC Small Business Development Centers can be found at www.SCSBDC.com.

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Source: http://www.midlandsbiz.com/articles/12846/

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