The Wharton School Small Business Development Center whartonsbdc.wharton.upenn.edu A part of the Sol C. Snider Entrepreneurship Center, and the Pennsylvania SBDC network. The Center receives its funding from The Wharton School, the Department of Community and Economic Development (DCED) of the Commonwealth of Pennsylvania, and by the U.S. Small Business Administration What is the Wharton SBDC? The SBDC: “Where Theory Meets Practice” …assists high potential entrepreneurs to build their businesses by developing and providing frameworks that facilitate data-driven decisions Our Mission: …to accelerate economic growth, promote entrepreneurship, and enhance the educational experience of students at the Wharton School Our Consultants 30 Consultants (Undergraduates) 25 Senior Consultants (MBAs) Our Leadership… Dr. M. Therese Prof. Eric T. Leslie E. Mitts Samuel Reeves Flaherty Bradlow Managing Practice Head of Director Academic Director Leader Undergraduate Program Dr. Flaherty has 25 Prof. Bradlow is the K.P. Leslie Mitts graduated Samuel Reeves graduated years of experience as a Chao Professor of from the Wharton MBA from Wharton in 2005. professor at Wharton, Marketing, Statistics, and program in 1990. She is As current head of the Harvard, and Stanford. Education. He has a former consultant, renowned expertise in in Undergraduate Consulting She has also led the venture capitalist, and Program, he works with international and market research methods, entrepreneur with expertise branding, and e-commerce. Wharton students to professional expansion of in the information diagnose and solve client He has been awarded the Wharton’s Global technology industry. business problems. Samuel Excellence in Teaching Consulting Practicum.. Award at the Graduate and is also an entrepreneur as a Undergraduate levels. co-founder of Humanistic Robotics, Inc.. Our Clients • Representative Clients: – Locally-Focused Small Businesses • Jewelry Store • Custom Publisher • Gym/Fitness Center • IT Consulting Firms – Multi-Million Dollar, Family-Owned Operating Businesses • Real Estate Holding Company • CD/DVD Duplication Company • Sneaker Retail Chain – Venture-Backed Technology-Based Businesses • Pharmaceutical Information System • Food Technology • E-Commerce website for upscale home design market – Private equity and venture capital funds Our Clients… Stage at Which the Entrepreneur is Executing Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Stage 6 Stage 7 Establishing Assessing Developing Re- Assembling Running the Harvest or Personal Demand the Model consolidating Resources Business Renew Commitment Next Strategic to Go Goal Forward Category 4 Est. Business Strategic Encountering Maturity Regeneration Change Consulting Practice Category 3 Strategic Execution Est. Business Consulting Practice Decline & Nature Focusing on Growth Re- of / Profitability Generation Business Growth Category 2 Entrepreneurs Beginning Execution First Steps and Strategic Business Planning Classes and Consulting Category 1 Early Stage Business Conceptualization Startup SBDC and the Category 5 Business Life Cycle Early Stage IP-Based Strategic Company with High Innovation Growth Potential Consulting Practice Our Process & The Consultant’s Role The Job of The Consultant • Collaborative consulting engagements with our Senior Consultants (MBAs) – Conducting background industry research, financial and operational analysis to create an initial diagnosis – Collaborating with MBA on later-stage research • Independent consulting engagements led by undergraduate consultants – Ugrad responsibility to understand diagnosis, work with staff to scope a project, do the research and the analysis, and finally, present conclusions to client • Internal Process Innovation – Consultants frequently work on special projects designed to make consulting more effective and beneficial for learning. The SBDC is an open environment where we welcome contributions that make a difference to our model. – Our current model was created in summer 2006 by our consultants! – Slavena Bardarova Wharton ’08 Client Organization and Situation Snapshot Industry Synthesis and Competitive Overview Financial Analysis and Models Identifying Tactical and Long-Term Strategic Challenges “I definitely think that the consultant did a terrific job on this case. The deck was very comprehensive and insightful. The data was shown in a way that had impact and the hypotheses he developed were a terrific starting point for me. I was able to take his work and share it with the client and it made it easier to establish the boundaries of the case and show the client that we were making a real effort to understand her business.” Cheryl Uynicky MBA ‘07 Developing the Engagement Diagnosis Generating Hypotheses for Possible Solutions The Value of a Consulting Experience • “Where Theory Meets Practice:” Applying academic frameworks to real businesses – Strategy and Competitive Analyses – Marketing – Financial Analysis – Operations • Mentorship from experienced undergraduate consultants, MBA consultants, and professional staff • Client Management Skills – Managing Expectations Kevin Castellano, Wharton ‘08 – Communicating Information – Catalyzing Successful Execution – Collaborative Problem Solving • Making a Measurable Economic Difference in Philadelphia – Growing the local economy – Improving entrepreneurs’ lives • Preparation for the Internship/Full-Time Recruiting Process Let‟s hear from some Undergraduate Consultants… “The WSBDC has really helped me develop a wide variety of skills- from industry research to cost accounting to analytical problem solving to client relationship management. At the SBDC, you gain responsibility quickly. One of the best things about SBDC is the entrepreneurial environment- everyone is always open to suggestions and ideas to improve the program.” -Jackie Inglesby Wharton „08 Working at the SBDC has been the perfect on-campus job. Working on real cases complements my classroom learning, giving me exposure to industries that I'm personally interested in, such as retailing, as well as allowing me to explore unfamiliar fields like insurance and real estate. I also have the pleasure of working with a team of bright and passionate individuals. The people at the SBDC are a great support and resource network, and our clients a tremendous inspiration for anyone interested in entrepreneurship. The community service aspect is also a big draw-- what better way to apply what --Joanne Tong, W „08 we learn than by sharing our resources with those who have great ideas that will benefit the local economy? “Working at SBDC has been a highlight of studying at Penn. The variety of clients and the flexibility given for undergraduates to define the engagement means that each case is a learning opportunity and a challenge. Perhaps the greatest benefit is the SBDC community of enthusiastic undergraduates, MBA’s and staff. There is always someone to bounce ideas off of, and teams are encouraged for larger cases. The community, as well as chances to communicate directly with the entrepreneurs and business owners, makes working here enjoyable. Lastly • as the program continues to grow there is an entrepreneurial atmosphere to the center that encourages trying new approaches and attempts to Since August I have worked with: improve existing practices.” •Windshield Glass Repair Service - Matthew Owens •Telecommunications Equipment Supplier M&T ‘09 •Nanotechnology for Printed Circuits •Professional Staffing Firm •Herbal Drink Startup Timeline & Application Process Application Process: Submission of Applications Midnight, September 16 Interview Notification September 17 Interviews September 19-21 Please Send Resumes & Cover letters to Samuel Reeves at firstname.lastname@example.org with the subject line “Fall Undergraduate Consultant” GOOD LUCK!
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