February 03, 2009
Formulating a marketing plan for a new product launch,
recommending a mergers-and-acquisition candidate or developing a
strategic business plan to maximize shareholder value sounds like
the role of an executive at a Fortune 500 company but at The Peter
J. Tobin College of Business at St. John’s University, it’s the
students who pay the cost—to be the boss.
Since 1977, the
Executive-in-Residence (EIRP) program based at the Tobin
College of Business has been giving undergraduate and graduate
students the chance to hone their strategic and creative business
skills. The program selects top students within the College
to participate in two challenging projects each semester, where
they learn to approach business from a top management
mind-set. Students develop leadership, critical thinking and
analytical skills by working face-to-face with executives from New
York area businesses and not-for-profit organizations; they learn
how to think, manage and face real-life strategic challenges.
According to Larry W. Boone, Ph.D., an Associate Professor of
Management and Director of EIRP, its mission is to present students
with the opportunity to develop real-world business skills, which
will prepare them to be effective leaders through hands-on
experiences. High-performing students near the completion of
their academic curriculum are invited to interview for a seat in
the Executive-in-Residence class.
“We are looking for academically talented and highly motivated
students who want to hone their leadership and executive skills,”
says Dr. Boone. “This program is a specific and effective bridge
between school and work and successful applicants should exhibit
excellent communication and interpersonal
skills.”
Once
the 18 students are selected for each class they are organized into
three teams. Over the next six weeks, each team will serve as
consultants to business executives, address client concerns,
develop strategies, prepare reports and deliver a formal 30-minute
business presentation to the client’s executive team at the
organization’s headquarters.
Established over three decades ago by Professor Henry Ruhnke, the
program’s success relies on the efforts of corporate executives
(many of whom are St. John’s alumni) who are dedicated to
supporting the education of St. John’s students; the University’s
connections to the business world; and the mentorship of faculty
members. EIRP organizational affiliates include Broadridge, Catholic Medical Mission Board, KPMG, Cushman & Wakefield, New York Stock Exchange, Momma’s House, National Grid (formerly
Keyspan), Ridgewood Savings
Bank, Weiser LLP, and R.R.
Donnelley, among many others.
Although the companies may differ, the objectives of the
projects remain the same: to assist students in acquiring job
search skills; improve overall communication and collaborative
skills; develop team-building, business and assessment
capabilities; and enhance student proficiency in strategy
development and project management.
“We want students to have hands-on experience in solving top
level company challenges,” says Linda Sama, Ph.D., an Associate
Dean for Global Initiatives and Professor of Management at Tobin
College. “This interaction allows them to become acquainted with
service, help to develop future management skills and focus on
fostering leaders.”
At the end of each academic year, the Executive-in-Residence
program, along with Dean Steven Papamarcos, Ph.D., and Tobin
administrators, hosts a banquet gala where participating students
and executives share their experiences with invited guests.
As masters of ceremonies, Professors Boone and Sama present awards
to exceptional students and executives based on outstanding
performance at the EIRP’s undergraduate and graduate levels.
“The purpose of the banquet is to provide an opportunity for all
EIRP students and executives who have participated during the
academic year to celebrate their project accomplishments. It
is a social gathering and a celebratory event,” Dr. Boone
says.
Ciao Italia….
In Summer 2006, Dr. Boone initially developed a version of the EIRP
program with an international component for M.B.A. students at St.
John’s Rome
campus. The following year a permanent capstone course was
offered for the first time to graduate students as part of the Rome
M.B.A. experience. These students are given similar opportunities
to obtain hands-on experience with top executives within for-profit
and not-for-profit organizations with both U.S. and European
business communities.
According to Dr. Sama, who has taught undergraduate EIRP courses,
acceptance into the Queen’s program is based on academic criteria
and interview. However, in Rome all students who enroll in
the summer Strategic Management Capstone course are allowed into
the program. Due to varied academic ability and experience,
additional lectures on strategic management are provided to ensure
everyone is up to speed and comfortable with the course-styled
experience.
“Rome students have responded positively to the delivery of the
capstone course in an EIRP format,” Dr. Sama adds. “The key thread
that links the courses offered in Rome and New York is its emphasis
on student-executive engagement.”
In today’s global economy, St. John’s students involved in the Rome
program benefit from an international business perspective, which
allows them to understand the challenges specific to European-based
corporations and market. Students engage in developing
strategies for European businesses and for U.S. firms interested in
entry into the European markets, they also hone critical-thinking
skills that incorporate a global point of view.
Dru A. Burtz, an alumnus of the Rome M.B.A. program and now its
Director, works with other alumni in the metropolitan area to
encourage their participation in the styled course.
“The Rome EIRP program responds to the goal of bringing students in
contact with real-life business issues and problems from an
international perspective,” says Ms. Burtz. “This provides students
with an enhanced practical skill-set that builds upon their
theoretical education.”
Dr. Sama reports the most challenging part of developing an
international program, is increasing its visibility and networking
portfolio.
“Engaging more companies in Europe and internationally and building
stronger relationships with alumni in Rome is both a challenge and
growth opportunity,” she explains. “We plan to encourage more
organizations to become involved with the University’s students and
the EIRP Rome-based program.”
“EIRP has been an education for me as a faculty member. It was
exciting for me to promote student learning in an environment that
was not driven by traditional lectures, but rather by full student
engagement, where the students shape and fulfill their own learning
objectives.” notes Dr. Sama. ” With each semester we seek to inject
all projects in Rome with an international flavor and I continue to
acquire valuable lessons from this program.”
From the Classroom to the
Boardroom
St. John’s undergraduate student Jessica Lazo who participated in
the Fall 2008 EIRP project with R.R. Donnelley remembers the
struggle to maintain deadlines, collaborate with teammates and
develop quantitative research.
“The executive’s taught us the realistic approach to business with
determination, creativity, and flexibility,” says Lazo. “In the end
our team was able to combine strategies and successfully present
our reports, the content of which benefited not only RR Donnelley's
client expansion plans, but also improved the working conditions of
their own employees.”
“At the end of the project the students have a track record of
productive employment or internship assignments, and they
demonstrate well-developed teamwork abilities,” adds Dr.
Boone. “All these skills help identify candidates who will be
successful during the intense planning projects conducted
personally with corporate executives.”