Durham, NC
www.fuqua.duke.edu
Consulting Services for Small Businesses
INTRODUCTION
The Fuqua Student Consulting Program (FSCP) offers confidential business assistance to qualified local companies for a $200 administrative fee (due only if accepted into the program). This program is specifically designed for small companies in the Triangle Area, which do not have the resources to perform or pay for these services.
About 800 daytime students attend Duke University's Fuqua School of Business, who on the average has worked (5+) years since receiving their undergraduate degree before coming to Fuqua. The expertise from this pool of talent, combined with the resources of the Fuqua School, allows FSCP to provide consultation in most functional areas. The list includes, but is not limited to, the following:
- Marketing/ Sales
- Human Resources
- IT & Web Sites
- Inventory Control
- Strategic Planning
- Production Scheduling
- Financial Planning and Control (Cash flows analysis)
- Accounting Systems/Business Ratios Break Even Analysis
- Operations
- Growth Management
- Manufacturing
THE FSCP APPROACH
FSCP firmly believes that a successful client engagement requires the client and student team work in close partnership. To this end, FSCP strives to match the business needs of your company with the interests and qualifications of the students. Not only does your business get valuable advice, but also Duke MBA student consultants gain valuable business experiences.
Once you have completed the Application for Consulting Assistance, the FSCP program director along with the student coordinator will review your application. Not all qualified applicants are selected as the program always attracts more applicants than can be accommodated. If your application is accepted, a team of three to six MBA candidates will be assigned to your project.
Depending on the complexity of the project, the student consultants will conduct research, perform market studies, analyze financial data, and brainstorm as necessary to attack the problem successfully. A formal oral presentation and a strategic written report will be prepared for each client engagement.
"A MUTUALLY BENEFICIAL RELATIONSHIP"
The relationship between you and the student consultants is mutually beneficial. You get useful, hard-hitting business advice from bright and energetic graduate students in business administration. The outlook is fresh and stimulating, and the academic perspective often provides unique insights you've never considered.
Duke MBA student consultants get "real-world" business experience - exposure that can never be duplicated in an academic setting. The students are graded and earn three course credits so that they take this program very seriously.
A GUARANTEE OF CONFIDENTIALITY
All engagement conducted by FSCP are done in strict confidence. No confidential information is released to the student consultants until a team is assigned. Duke recognizes the sensitivity of your marketing and financial information, and therefore ensures confidentiality. Each student signs a letter of confidentiality before starting the project.
THE CLIENT ENGAGEMENT
In October, consulting teams are assigned to businesses for the client engagement. The consultants will work with the business from October through end of April. Complex and difficult-to-define problems are analyzed:
- "How can I improve cash flow in the face of intense competition?"
- "We've grown so rapidly that current financial controls are inadequate. Help!"
- "My business has reached a plateau, how can I grow the business?"
- "I am losing employees, how can I stop the loss?"
Consultants will meet first at your place of business, and you will be asked to define the problems at hand. You should expect to meet with the consultants five to eight times throughout the engagement.
The students' academic schedules are very demanding. It is extremely important that you keep the mutually agreed meeting schedules whenever possible. The more open and candid you are with the students, the better. Since every phase of the business impacts bottom line profits, it is imperative that you share your financial information with the student team. This will greatly improve their ability to deliver high quality recommendations. Once again, complete confidentiality will be maintained.
A final formal presentation will be delivered at the conclusion of the project, along with a written report detailing the consultants' findings, conclusions, and recommendations. Clear suggestions for implementation will be provided. Your active participation in the presentation is expected, as it will allow the students to assess your reactions and you will benefit more from the interchange of ideas. You are encouraged to include others in your organization that would benefit from this presentation.
ABOUT DUKE'S FUQUA SCHOOL OF BUSINESS AND FSCP
The Graduate School of Business Administration at Duke University was established in 1969 and renamed The Fuqua School of Business in 1980 in recognition of the generosity and support of J.B. Fuqua, Chairman of the Board of Fuqua Industries. Today, the school is recognized as one of the top business schools in the country. The Fuqua Student Consulting Program has provided consultation services for over twenty years and enjoys the active support of both Duke and the local business community. The Director, Bill Sax, has worked since 1987 and with over 300 companies through this student-consulting program.
FOR FURTHER INFORMATION
For further information, please contact Bill Sax, the faculty director. If you are interested in a client engagement, please submit your application by letter, e-mail or phone to:
Beverly James, Assistant to Bill Sax
The Fuqua School of Business
Box 90120
Durham, NC 27708-0120
919-660-7789
Through the Fuqua Small Business Consulting Program, first-year MBA students can take a course for credit to help companies solve their business problems. Read more...