Friday, Apr 16, 2021
All first-year business students now required to participate in program through "Introduction to Business" class
by Rachel Stengel '14, '20
Since 2016, the Business in Action program has challenged first-year students enrolled in "Introduction to Business" to run a small business throughout a semester. The 2020-21 academic year marks the first year the class and project are required for all freshman students in the Norm Brodsky College of Business.
The goal: To immediately expose business students to the realities of running a business, regardless of their major.
"In line with ÌìÃÀ´«Ã½¹ÙÍø's steadfast belief in a hands-on education through the Engaged Learning Program, the project quickly introduces students to every aspect of running a business," says Beverly Braddock, lecturer and director of the Business Living & Learning Community. "Whether they're an accounting major or a marketing major, it's a unique way for every business student to develop a foundational understanding of the business environment and various business functions."
Students are divided into teams and tasked with developing and executing a small business plan throughout the semester. They are provided with $500 to create and sell a product, courtesy of generous sponsorships from ÌìÃÀ´«Ã½¹ÙÍø alumni and friends.
The project includes a market fair where the student teams sell their products to members of the ÌìÃÀ´«Ã½¹ÙÍø community and the public. In light of COVID-19, this year's market fair, which ran from March 29 to April 5, became a virtual fair. Teams were tasked with the additional challenge of creating an online shop for their products. This semester's teams sold a variety of apparel, care packages, jewelry, ring lights, face masks and more.
A portion of the teams’ profits are donated to charitable organizations of the students' choice. In the fall semester, the student teams raised more than $4,600 for a number of organizations, including Children's Hospital of Philadelphia, the Breast Cancer Research Foundation and the Trenton Area Soup Kitchen. The other 50% is reinvested into the program to support future activities of the Business Living & Learning Community. The community allows first-year business students to live in the same residence hall and attend a number of classes together in order to build connections among fellow students, faculty and staff in the College, and ease the transition to ÌìÃÀ´«Ã½¹ÙÍø.
Corporate sponsors for the "Introduction to Business" serve as mentors throughout the course. Representatives from Johnson & Johnson, LGS Marketing Services and GHO Ventures, LLC have lent their expertise to the class as well as a number of guest speakers from a variety of business functions.