2007 Graduate Business Student Competition booklet

T W E N T I E T H A N N U A L Graduate Business Student C O M P E T I T I O N 2007 Sponsored by: The University of North Carolina's Technology Small Business and Technology Development Center “Not knowing what to expect...we were very surprised at the depth and professionalism of their analysis, report and recommendations. Very impressive!” —Client evaluation from this year’s competition Sponsored by: The University of North Carolina's Small Business and Technology Technology Development Center “The team went the extra mile for the company. We feel that the recommendations and their implementation allowed us to go to the next level.” Special thanks to the Kenan Center at UNC Chapel Hill for providing meeting space for student team presentations. —Client evaluation from this year’s competition T he North Carolina Small Business and Technology Development Center (SBTDC) is proud to introduce the outstanding teams who participated in the 20th Annual Graduate Business Student Competition. Seven teams participated this year, with six teams from five schools competing in the final statewide competition. The Graduate Business Student Competition is designed to give student teams the opportunity to work with actual client companies and compete with other students for prize money. This contest was the first of its kind in the country which has students working with real companies. The individual case abstracts in this book have been submitted by each student team. The opinions, conclusions, and/or recommendations are those of the student authors and do not necessarily reflect those of the SBTDC. If you have any questions concerning the Graduate Business Student Competition, please contact the SBTDC at 800.258.0862 or send e-mail to info@sbtdc.org. 2007 Competition E ach student team works with a business school liaison at its college or university. This liaison teaches the course or supervises the independent study project on behalf of the school, advises the team, manages any intra-school competitions, and is an invaluable part of the Graduate Business School Competition. The liaisons who worked with this year’s teams are: Campbell University .................................. Shahriar Mostashari East Carolina University ........................... Len Rhodes Fayetteville State University ..................... Assad Tavakoli North Carolina Central University ............. Sharon Hunter-Rainey UNC Pembroke .......................................... Carmen Calabrese ...about the SBTDC business school liaisons The judges for this year’s contest were: Nick Nicholson ......................................... First South Bank Scott Daugherty ........................................ SBTDC Lisa Ruckdeschel ...................................... SBTDC ...about the judges This material is based on work supported by the US Small Business Administration (SBA). Any opinions, findings, conclusions, or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. 3 Competition rules and process Eligible Schools: All North Carolina-based colleges and universities with graduate business programs are eligible to participate. Eligible Participants: Only students currently enrolled and pursuing the MBA, Masters of Science of Management, or Masters of Accounting degree at an eligible school may participate. Students who are employed with or have assistantship assignments with any SBTDC office may participate only if their participation is in addition to any work which they may otherwise undertake on behalf of the SBTDC. Student Teams: Teams of two-to-five eligible participants (2-3 preferred) will be recommended to the SBTDC by the Dean of the School or College of Business (or his/her designee); only two teams per campus are eligible to participate in the state-level competition. Selection Dates and Case Assignments: An SBTDC staff member—hereafter known as the liaison—will provide a brief orientation to the competition for all teams by 31 December 2006. Formal case assignments must also be made by this date, but teams may begin their work with clients at any time after the beginning of Fall semester. The liaison will be available to advise the team on procedures and other issues. The liaison will, through periodic inquiry, monitor case progress with both the team and client company. Online-submitted team rosters must be received by Friday, 19 January 2007. Management Consulting/Case Work: Work must be completed by 27 March 2007. This involves meetings with the client, research, and report preparation time. Each team must submit counseling logs using a template provided by the SBTDC. It is estimated that each team member will spend roughly 100-120 hours on the case. Expenses: MBA teams are responsible for their own expenses. If an extraordinary situation or hardship arises, consult your SBTDC liaison. Case Reports and Documentation Logs: Each team should prepare a written case report. This should not exceed 15 pages, exclusive of attachments and exhibits. This report should be organized in the following format: I. II. III. IV. V. VI. Executive Summary Description of Business Identification of Issues Analysis Recommendations Attachments and Exhibits (includes documentation log) In addition, teams should prepare a counseling documentation log showing what was accomplished and how. As private-sector consultants must document their work, the sponsors of this contest also require student teams to complete a counseling log template. This documentation must accompany the case reports. Submission Date: Six (6) word-processed copies of the case report—including the documentation log as an appendix—must be submitted by the close of business on Wednesday, 28 March 2007. These should be sent or delivered to the SBTDC Executive Director (5 West Hargett Street, Suite 600, Raleigh, NC 27601-1348). 4 Additionally, a clear black-and-white or color photo of the team (with client) and a written summary of the case (100-150 words) must be submitted no later than 28 March 2007 to the SBTDC Executive Director at this same address (FAX 919.715.7777). Electronic submissions using MS Word for text and .eps, .gif, .jpg, or .tif high-resolution graphics files (300+dpi and no smaller than 3" by 5") may also be e-mailed to afarrior@sbtdc.org. Oral Presentation of the Case: Each team must make a presentation of their case to a review panel. Teams will be scheduled for oral presentations on: 10 April 2007 in Chapel Hill Approximately 45 minutes will be required for each presentation. This will consist of a 20-25 minute presentation by the team, followed by 15-20 minutes of questioning by the panel of judges. Oral presentation time slots will be assigned by the SBTDC. Requests for specific days/times will be entertained on a first-come, first-served basis if received at SBTDC headquarters in Raleigh by 16 March 2007. An overhead projector, screen, and TV/VCR (upon request) will be provided. No other equipment will be provided. Teams are encouraged to bring whatever they need (high-intensity overhead projectors, computers, LCD projection equipment) to augment their oral presentations. Evaluation: Evaluation is comprised of four elements: 1) a written evaluation from the client company (30%) due by 30 March 2) rating of the oral case presentation (30%) 3) rating of the written case report (30%) 4) case documentation (10%)—counseling logs of project work Factors considered in the evaluation of the written case report and the oral presentation include: a) organization and clarity b) identification and analysis of relevant issues c) the quality and appropriateness of the recommendations made Awards: All teams submitting written reports and making oral presentations will receive certificates of participation. The teams selected for having the most meritorious presentation will receive the following cash awards: First Place Second Place Third Place $4,500 $3,000 $1,500 Awards Announcement: Awards will be announced during events on each of the winning campuses. 5 Competition winners Past and present year’s This year ’s winners are: 1st Place 2nd Place 3rd Place Honorable Mentions Campbell University NC Central University Fayetteville State University Campbell University East Carolina University UNC Pembroke Steven Baldwin/Kenneth Britton/Cynthia Gigandet William Haley/Michele Johnson/Daniel Mezengia/Noriko Rouse Meenakshi Ahuja/Van Nguyen Ryann Angle/Ciji Cress/Adam Deal Molly Maxson/Seth Shore/Courtney Tibbetts/Joe Tomkiewicz/ Rebecca Turner Susan Dickason/Jay Stanley/Daniel Troutman 2005-2006 1st Place 2nd Place 3rd Place Meredith College Fayetteville State University East Carolina University UNC-Pembroke Meredith Frederick/Jennifer Griffin/Jim Pait/Tim Weinzapfel Christine Powell/Roman Trudnenko Petronela Agache/Racheal Baxter/Eric Dicken/Caroline Roberts Liz Cummings/Robert Weagraff/Elizabeth Wilkerson 2004-2005 1st Place 2nd Place 3rd Place Montreat College Elon University East Carolina University Fayetteville State University Scott Adamczak/Don Brantley/Stephen Clark/Richard Higdon/Greg Moore Clay Beck/David Clark, Jr./Khosrow Hallaji/Jerry Sparrow Melissa Callaway/Mauro Falasca/Antonino Giaimo/Mary E. McNeill Rebecca Lucas/Anthony Martyn/Jessica Portela 2003-2004 1st Place 2nd Place 3rd Place Honorable Mention Elon University Campbell University East Carolina University Fayetteville State University Ann Alexander/B. J. Fungaroli/Wilhelmenia Jordan/Jonathan Warren Robert Feltey/Brandon Hughes/Anthony Losurdo/Ameet Vyas Wade Layton/Anna Wilkinson Boris Abbey/Barney Corbitt/Ashok Jain 2002-2003 1st Place 2nd Place 3rd Place East Carolina University Elon University Campbell University Nicole Brown/Cassandra Johnson/Kristin Paige David M. Jones/David W. Runions/Tom White Jonathan Elkins/Lance Pittman/Eric Pompi/Tony Proctor 2001-2002 1st Place 2nd Place 3rd Place Montreat College Western Carolina University Elon University Michael Brenning,/Michael Donovan,/Matt Furin,/Ashla Lane/Kelly Swadley Kevin J. Hefner/Mario Sepulveda-Guzman/Randall Newton Tilson Teresa M. Walker/Sylvia Muñoz/Richard F. Garner 2000-2001 1st Place 2nd Place 3rd Place Campbell University Campbell University Elon College East Carolina University Ron Linton/James Rodgers/Matthew Taylor Brian Bain/Daniel Finch Dereck Robinson/Angela Rose/Val Sachariason Tonya Johnson/Katherine Leimbach/Barbara Jo White 1999-2000 1st Place 2nd Place 3rd Place Fayetteville State University East Carolina University Elon College Michael Best/Christine Nesbitt/Carl Patterson Ruth Montero/Joshua Potter/Kevin Schmidt Mark Dwyer/Elizabeth McGee/Ashley Woolwine 6 1998-1999 1st Place 2nd Place 3rd Place UNC-Chapel Hill Elon College UNC Charlotte Malcolm Kendall/Craig Reigel/Dan Rua Kevin Hancock/Kim Heying/Jim Stanford Celeste Colcord/Andy James 1997-1998 1st Place 2nd Place 3rd Place Campbell University Fayetteville State University Fayetteville State University Michael Haney/Ryan Ketron/Barbara Dietz Bryan Boone/Donald Crumpler Ron Lavoie/Robbie Reed/Margaret Ricker 1996-1997 1st Place 2nd Place 3rd Place East Carolina University UNC Pembroke Campbell University Sharon Chrisman/Sarah Mayo/Daniel Gonzalez Kenneth Carpenter/Veronica Grantham Chuck Robbins/Tracy Walker 1995-1996 1st Place 2nd Place 3rd Place UNC Charlotte Campbell University East Carolina University Mark Critchett/Mary Valenta Carol Hagler/Stewart Thomas Kelly Anderson/Sean Frelke/Michelle Moser 1994-1995 1st Place 2nd Place 3rd Place Campbell University Fayetteville State University East Carolina University Dan Bowen/Scott Bucklin Rafael Corella/Rhonda Keyes/Robert Land Phil Garvin/Jon Matthews/Michele Miller 1993-1994 1st Place 2nd Place 3rd Place UNC-Chapel Hill Appalachian State University Campbell University Todd Dooley/Carol Johnson/Richard Marquez Jonathan Axtell/Craig Dunkley Jimmy Baynum 1992-1993 1st Place 2nd Place 3rd Place Campbell University East Carolina University Wake Forest University Kathy McCain/Tenette Prevatte David Adams/Barry Holmes/Kent Lawrence Gino Biondi/Michael Foran 1991-1992 1st Place 2nd Place 3rd Place UNC-Chapel Hill Appalachian State University Fayetteville State University Andy Bressler/John Haydock Scott Kofroth Ron Milton/Jesse Smith ...the first year (1987-1988) The competition originated as an intra-school contest at the University of North Carolina at Greensboro. Three prizes were awarded. 1990-1991 1st Place 2nd Place 3rd Place UNC-Chapel Hill Campbell University UNC Wilmington Thomas Lee/Jane Roper Kevin Jackson/Larry Loucks Gerald Elam/Dana Freer 1989-1990 1st Place 2nd Place 3rd Place Meredith College Fayetteville State University UNC-Chapel Hill Cecilia Gregory/Holly Sims David Braxton/Rafael Corella/Catherine Verpogia John Cline/Austin Kennedy/Langly Respress 1988-1989 1st Place 2nd Place 3rd Place UNC Charlotte Appalachian State University UNC Greensboro Bob Lewis/Mark Schaffner/Al Segars Peggy Jones/Mike Jordan/Pat Sexton Paula Capurso/Charles John/Gautam Khungar/ Bradley Kirkman/Maithili Rao 7 Steven Baldwin, Kenneth Britton, and Cynthia Gigandet Dan Blankenship, SBTDC advisor MarketPlace-Mail.com Raleigh, NC Steven and Bracha Rosenberg, clients MarketPlace-Mail.com (MPM) is a Raleigh-based direct mail service provider owned and operated by Steven and Bracha Rosenberg. The clients have 20 years experience in the direct mail industry. The company provides four services: solo direct mailings, bulk mailing services, internet advertising, and a quarterly direct mail booklet. The Rosenberg’s goal is to grow the operation into a “turn key” business that can be replicated in other markets. The team utilized a number of tools during the project including a business review, situation analysis and customer satisfaction survey. These tools identified three areas of focus for the project: Organizational Structure, Sales, and Customer Satisfaction. Through the analysis and recommendations, the team provided MPM a better picture of their customers’ advertising needs, which led to the discontinuation of the booklet and more focus on the businesses core competencies to help them realize higher profit margins. Campbell University 8 William Haley, Michele Johnson, Daniel Mezengia, and Noriko Rouse Mary Speight, SBTDC advisor Cameron & Cameron, Inc. Durham, NC Bennie Cameron, client Cameron & Cameron, Inc. is a family-owned and operated moving, assembly, and storage business in Durham, North Carolina. It was established by Bennie Cameron Senior in 1994. Cameron & Cameron, Inc is one of three businesses which collectively provides clients with five main services: assembly, delivery, painting, relocation, and storage. Mr. Cameron sought assistance because he had concerns regarding growing his company’s job capacity and revenue. The MBA team analyzed the company’s current situation and discovered issues within three major areas of the business: operations,organization/ human resources, and finance. The proposed solutions, when applied, are projected to increase the company’s efficiency and revenue. Cameron & Cameron now has a working plan that enables future growth. North North Carolina Central University 9 Fayetteville State University Meenakshi Ahuja and Van Nguyen Ron Duffer, SBTDC advisor The Harger Company / Baskin Robbins Fayetteville, NC Roberta Harger-Quigley, client The Harger Company, Inc. is a privately owned corporation that owns three Baskin-Robbins franchises in Fayetteville, North Carolina. These stores sell specialty ice creams, cakes, shakes, smoothies, and snacks. Mr. Robert Harger, father of the present owner, started this company in 1957. The ownership of company got transferred to her mother, Mrs Pauline Harger, after her father passed away in 1997. Mrs. Roberta Harger-Quigley purchased it from her mother in 2004 and now owns 100% of the shares of the company. In November 2006, Mrs. Harger-Quigly approached the SBTDC for help in understanding why her company was facing cash crunch and a downward trend in net income. She also emphasized the need of training for her and her managers on accounting and other business management topics. 10 Ryann Angle, Ciji Cress, and Adam Deal Ron Duffer, SBTDC advisor People Achieving Life Skills, Inc. Erwin, NC Pamela Terry, client Our client, PALS, Inc., is an organization in Erwin, North Carolina serving developmentally disabled adults. PALS, Inc. works with its clients to help them acquire, retain, and improve independent living, mobility and dexterity skills, and social skills. PALS, Inc.'s President, Pamela Terry, was interested in learning about becoming nonprofit and how to improve her business to enable her to be financially ready to purchase a facility for PALS, Inc. after the expiration of its lease. Our team, Ryann Angle, Ciji Cress, and Adam Deal, worked with PALS, Inc. and Pamela to make recommendations to improve the company. Our recommendations included: becoming nonprofit, implementing a budget and better financial management, instituting an internship program, hiring an HR director, enacting a marketing plan, and conducting an SBTDC retreat with all employees involved. Campbell University Honorable Mention 11 East Carolina University Honorable Mention Molly Maxson, Seth Shore, Courtney Tibbetts, Joseph Tomkiewicz, and Rebecca Turner Debbie Hathaway, SBTDC advisor Brook Valley Country Club Greenville, NC Joe Horvath, client Brook Valley Country Club (BVCC) is a semi-private country club located in Greenville, North Carolina. In addition to a industry-wide struggles, BVCC has suffered from poor organizational structure, declining membership, the lack of a strategy to attract new customers, and huge debt, among other financial woes. We amended the club’s governing documents to make them enforceable so that the board of directors and club officers can act on BVCC’s behalf until it can hire the staff needed for a strong organization. We expressed the importance of marketing to rebuilding membership and presented the club with a strategy to get BVCC back into marketing. Some of these steps seem rudimentary, yet are very important as the club builds its marketing strategy from scratch. There is no short-term solution for BVCC’s debt but we explained ways to monitor the club’s finances to ensure that the club’s financial woes are not worsening. 12 Susan Dickason, Jay Stanley, and Daniel Troutman Johnnie Marshburn, SBTDC advisor Bon-Aire Filters, Inc. Marietta, NC Bob Floyd, client Bob Floyd, Jr., founder and president of Bon-Aire since 1969 asked the SBTDC for assistance. Mr. Floyd was losing a significant portion of business due to a major client’s change in technology usage. Johnnie Marshburn (SBTDC) and Carmen Calabrese (UNCP) pulled together graduate students Susan Dickason, Daniel Troutman, and Jay Stanley to work with Mr. Floyd. After significant review and analysis, the team determined that Mr. Floyd’s best option was to sell his business. The recommendation was the result of several factors including his age, health, lack of succession plan, decline in existing market, and the significant investment required to grow the business. Additionally, this would give Mr. Floyd the opportunity to become an angel investor. The consulting team made several recommendations to improve the value of his business. As a result, Mr. Floyd has developed contracts with CVS, Walgreen’s, a HUB Zone customer, and signed a contract with an industry-specific broker. UNCUNCembroke Pembroke Honorable Mention 13 “The MBA team was and will continue to be an important part of our company’s growth and prosperity. The ideas and things [they] implemented were phenomenal.” —Client evaluation from last year’s competition “We forgot that [they] are students; these were people that everybody could look up to for sound business advice.” —Client evaluation from last year’s competition 14