Hands-on Learning

The Marriott School MBA program employs a number of learning methods that enhance the educational experience for students. Upon beginning the first year, MBA students are divided into three sections of approximately fifty students each. This small class size becomes a considerable advantage in a program that takes a team-oriented approach to solving business problems. This team emphasis begins immediately, as these sections are then organized into smaller study groups of approximately five students. These groups are designed according to factors such as undergraduate major, academic background, language background, and previous work experience. They are meant to bring together individuals who will complement and learn from each other.

The majority of homework in the first year consists of group assignments, making team work critical. Students will not only find lifelong friends among their study groups, but they will also find that much of their learning takes place in these groups as they learn to work together to deal with the pressures and uncertainties of management positions. While assigned group work becomes much less common in the second year, most second year students recall the efficacy and advantages of group study and continue to form groups on their own.

Professors foster this team learning experience by utilizing the case method in the classroom. In addition to team work and the use of the case method in the classroom, students are given opportunities to participate in competitions focusing on entrepreneurship, ethics, and innovation. Students also take part in consulting projects and specialized classes focusing on financial investments, venture capital, social enterprise, and real estate while taking advantage of the resources made available to them through the Marriott School’s centers and institutes.

Case Method

Another learning technique used by the Marriot School MBA program is the case method. In addition to studying course textbooks, students become practiced in preparing business cases. These cases present various business decisions, problems, and situations that real companies have faced and give students the chance to develop a skill set in identifying problems, analyzing options, and developing strategies and tactics. This skill set is enhanced by textbook knowledge of complex business concepts and frameworks, and students will find their ability to apply this knowledge to real-life examples and case-studies significantly increased.

Consulting

The field studies program is the consulting arm of the Marriott School of Management. Consulting projects are typically completed by a team of four or five graduate students under the direction of a faculty advisor with some expertise in the area to be addressed. Field study teams can work on projects in almost any business discipline, including, marketing research, strategy, finance, supply chain, and global business. Recent clients include Microsoft, Intel, Dow Chemical, Dell Computers, Black & Decker, the State of Utah, and many others.

Numerous field study projects require students to travel abroad in order to gain an understanding of a business’ needs in a particular country. Students in the past have traveled to countries like Brazil, Chile, China, Mexico, and Switzerland. The cost of traveling to these countries is not the responsibility of the participating students.

For more information on field studies contact:
Roger McCarty
Director of Experimental Learning
Corporate Development/Career Services
Phone: (801) 422-8928
E-mail: roger_mccarty@byu.edu

Entrepreneurship

At Brigham Young University, entrepreneurship flourishes throughout the student body at both the graduate and undergraduate level and among business and non-business majors. In order to foster the education and growth of those with an entrepreneurial spirit, the Center for Entrepreneurship was formed.

The mission of the center is “To prepare students for entrepreneurial success through ethical leadership, global experience, and external Entrepreneur Founder support.” The Center for Entrepreneurship was established in 1989 to educate, encourage, and support students in successfully starting, operating, and advancing new business ventures both domestically and globally.

BYU and the Center for Entrepreneurship have excellent programs with entrepreneurial education and activities. The center is entirely funded by donations from successful entrepreneurs who dedicate a significant amount of their time and money to further the success of our students.

The Center for Entrepreneurship enables students to acquire basic entrepreneurial skills through study and experience. Each year the Student Entrepreneur of the Year competition and the Business Plan Competition give students the opportunity to present their businesses in front of audiences of up to 1,000 people and receive feedback and mentoring from Entrepreneur Founders, successful business leaders, venture capitalists, and graduate students. These competitions provide more than $150,000 in awards to the student finalists. Students can also build relationships and hone skills by joining the Collegiate Entrepreneur Organization (CEO Club) or enrolling in one of the six Entrepreneur Lecture Series courses, where each week students hear from successful entrepreneurs from around the world. Other entrepreneur courses include basic entrepreneur skills, managing and creating new ventures, entrepreneurial marketing, and more.

Many students begin their own businesses before completing their university courses. Entrepreneur mentors help students act on their ideas, bring their businesses to fruition, and successfully handle any problems or challenges along the way. Some students focus on making a difference “intrapreneurially” in the corporate world by practicing what they’ve learned through the Center for Entrepreneurship. Many graduates with an entrepreneur emphasis eventually end up as their own bosses and provide employment and security for others. Some current examples of BYU student successes are 1-800CONTACTS, DearElder.com, Omniture, J-Dawgs, and Calle.

Dedicated Entrepreneur Founders donate their time, talents, and funds to benefit students through scholarships, class enrichment, and mentoring. Founders of the Center for Entrepreneurship from all around the world and all types of businesses find satisfaction in giving back in a way that really matters. They meet several times a year on campus and at remote locations during the Entrepreneur Founders’ Conference and Founders’ Retreat to network with each other, teach and mentor students, and form lasting relationships.

Ethics—Ethics Case Competition

BYU MBA students are known for their strong moral and ethical values. Marriott School MBA students have opportunities to apply these values in a hands-on environment both in and out of the classroom.

All students are required to attend a core ethics course where they are presented with a variety of cases to solve. These cases help students understand where they will need to draw the line when a job situation becomes questionable and requires ethical decision making.

Students are able to exhibit what they have learned in an annual ethics competition. Each year the University of Denver hosts a “Race and Case” competition where students are both physically and mentally challenged as they compete in a ski and ethics competition. BYU’s MBA students have placed well every year they have participated in this competition. To read more about the Race and Case, click here.

INVESTMENT BANKING - Silver Fund

Second-year MBA students have the opportunity to manage the Marriott School’s $1.4 million stock portfolio—and although it’s called the Silver Fund, it mostly sees green.

More than twenty years ago, the Silver family established the Madelyn and Ruth Silver endowment at the school. The $200,000 gift was earmarked to be money managed by finance students earning their MBAs. Since then, it has grown to be worth more than $1.4 million.

At the end of their first year, MBA students apply to work for the fund the following year. The twelve chosen are in charge of economic forecasts, security selection, and portfolio strategy. “Over the years it has become a big deal for students and recruiters,” says Steve Thorley, faculty advisor to the fund managers. “Being a Silver Fund student is a badge of honor for those going into an investment management career.”

Just ask Jon Fischer, a 2004 MBA graduate and Silver Fund participant. “That experience made a difference in my ability to be successfully placed after graduation,” he recalls. “It regularly came up in job interviews, and potential employers were always impressed.”

Despite a struggling stock market, the students in charge of the portfolio have beat the market and had a higher than average market return for the past four years. “That’s an impressive track record. If they were doing this as professionals it would attract a lot of customers and money under management,” Thorley says.

Students who work with the fund meet twice a week and make presentations on stocks they want to purchase. Thorley monitors the students and invites professional investment managers—often former Silver Fund students—to observe and address the students.

“This is an MBA project with real-world consequences. Students learn how to work together under pressure and how to convince people without being overbearing,” Thorley says. “They also learn about the risks of investing and how to beat the market. Students are devastated if a stock they lobbied for doesn’t do well.”

The Silver Fund gives participants an advantage as they venture into the business world. “Making decisions with real money during my time on the Silver Fund prepared me for my career by teaching me the rewards of carefully researched financial decisions—and the consequences of not doing my homework,” says Fischer, a financial analyst for Payless ShoeSource, Inc. “The Silver Fund was a golden opportunity. I feel much more comfortable working in the real world than I would have without that experience.”

For information about the Silver Fund or other mentored-learning programs, call (801) 422-7696.

REAL ESTATE

The H. Taylor Peery Institute of Financial Services is expanding its focus to better serve real estate MBAs and undergrads. A full-time professional is being hired for the 2008-2009 school year to help students explore various aspects of residential and commercial real estate, establish key networks, and prepare for the challenges of a full-time career in real estate. In addition, there is a fully-functioning advisory board tasked with helping real estate students find jobs and internships in their areas of interest.

The Real Estate Club seeks to provide tools, training, experience; and opportunities to students who want to work in the real estate industry. The club also seeks to establish networks with various real estate professionals to generate valuable relationships leading to career opportunities for club members.

BYU MBA faculty are engaged in cutting-edge research and publish in the top journals in their fields. Since 2000, our faculty has published three articles in the Journal of Real Estate Finance and Economics and one article in the Journal of Real Estate Research.

In past years, students have enhanced their real estate education by participating in field studies, working on the Real Estate Research Report and by interacting with various professionals in the field through round table discussions, panels, guest speakers, etc. Some students take the advanced real estate analysis class to further enhance their knowledge of the field.

Social Enterprise

Each May, before entering their summer internships, a number of BYU MBA students have the opportunity to participate in a social venture consulting project. These projects give students the opportunity to apply their business skills in numerous developing countries to help socially minded organizations improve their service to their clients. In the past students have worked in Ghana, Mozambique, Peru, Mexico, and Paraguay with organizations in the fields of microbusiness, health, education, and employment. Working with these organizations is especially effective at helping students increase their knowledge about the theory and practice of economic self-reliance.

There is some funding made available to assist students with some of the costs of these learning experiences.

To learn more about social enterprise and how you can get involved, click here.

MBA students can also get involved in BYU’s annual Social Venture Competition. The Brigham Young University Social Venture Competition (SVC) provides an opportunity for students campus-wide to share their interest in local, national, or global social issues. To compete and win more than $50,000, students submit a business plan that meets a social need in areas such as:

Health care	Poverty	Education
Energy	Agriculture	The Environment

Students work with faculty, practitioners, and professionals to innovate, build, and inspire as they develop and implement venture plans.

Venture Capital & Private Equity - Cougar Capital

An introduction to Cougar Capital should almost begin with an outline of the historical context in which venture capital (VC) and private equity (PE) currently finds itself. It has been stated that approximately 85 percent of all jobs and new job creation in the United States is found in small, entrepreneurial enterprises. Among several other purposes, it is a primary function of VC/PE to provide capital, growth opportunities, strategic advances, and liquidity to such enterprises. For this purpose, and because of the excitement that surrounds such activities, the VC/PE industries have experienced significant growth and increased efficiency over the past decade.

Brigham Young University has recognized this and is responding by developing an educational program designed to prepare students to actively participate in and drive this exciting industry into the future. Cougar Capital is a newly formed venture capital/private equity fund deploying real dollars into real companies.

Cougar Capital is a class that first-year MBA students at the Marriott School can apply for and potentially participate in during their second year in the MBA program. A first-year MBA student can take a VC/PE fundamentals course, preparing him or her for the experience. The second-year, MBA-driven Cougar Capital fund accepts some of these students who then actively pursue investment opportunities, perform due diligence, and deploy capital.

Cougar Capital is established as a donation-based, evergreen-structured fund that works closely with established VC/PE firms on deals. The fund, therefore, sources almost all of its deal flow from these industry partnerships, and seeks to add value to their partners’ investment process through significant due-diligence efforts, as well as by providing additional post-deal analysis of companies in which they have invested.

Led by faculty advisor Gary Williams, a well-rounded academic advisory board, and additional advisors consisting of respected industry professionals, Cougar Capital provides academic learning through applied experience. Williams states, “This is one of the most exciting, dynamic industries in today’s economy, one in which today’s MBA’s find it difficult to penetrate. I believe that students who are able to participate in Cougar Capital are not only learning the skills it takes to succeed in this business, but are also gaining important industry contacts. We believe Cougar Capital provides an invaluable experience to Marriott School MBAs and that it will drive the program in the right direction on a pragmatic level, in the minds of future Marriott School recruits, and even in the MBA school rankings.”

It is no doubt the Marriott School’s MBA program is on the cutting-edge of curriculum development with this program. It will be exciting to see how Cougar Capital continues to grow, what kind of students it may begin to attract to the MBA program, and where the students involved will end up. In the minds of those involved in Cougar Capital, the sky is the limit.