Raleigh, N.C.–A locally-owned boutique specializing in customized curved stair design was struggling to build clients and develop a marketing strategy. As part of the 21st annual Graduate Business Student Competition sponsored by North Carolina State University’s Small Business and Technology Development Center (SBTDC), the Campbell University team of Charles Hibbard, Marlisa de Fontes and Alison Smith came to the company’s aid. Competing against teams from Fayetteville State and East Carolina universities the Campbell team’s strategic assessment and recommendations improved company’s sales revenue and strengthened liquidity, earning Campbell the competition’s first-place award.”They had some significant challenges confronting their client,” said Scott Daugherty, executive director of the SBTDC, “but their analysis was strong and their recommendations really appropriate for the company.”One of the company’s most significant problems was building visibility in the marketplace. The team’s recommendations included methods for reestablishing and maintaining business relationships, improving the firm’s financial position and developing realistic long-term goals.”We used a lot of financial information, marketing tools and assessment that we learned throughout the year,” said Smith, of Raleigh. “It was fun to look at the client’s performance at the beginning of the project and see how the company had developed by the end.”As the first place winners, the team split a $4,000 cash prize, but the competition isn’t just about money, said Dr. Shahriar Mostashari, associate dean for External Relations and faculty liaison at the Lundy-Fetterman School of Business.”Programs like the Graduate Business Student Competition is just one example of the School of Business’ commitment to service and community outreach,” he said. “Over Campbell’s 18 years of participation in the competition, there are hundreds of small to mid-sized companies in central and eastern North Carolina that have benefited from our students’ one-on-one consulting and strategic assessment of their businesses.”Hibbard, of Fuquay-Varina, said the experience was one of the best he’s had at Campbell. “It was very rewarding, very enriching, very positive. It really brought home the principles we’ve been learning in the Master of Business Administration program.”The competition is a “win-win-win” situation for everyone, concluded Daugherty.”The key to the program is that it provides a great learning opportunity for students; it has enormous impact and benefit for clients to grow their businesses and improve; and the university wins because it gains visibility in the community.”Another Campbell team, Chris Conrad, Ashley Jones, Mary Kaylor, Andrew Lupton and Chris Price also made the final round of the competition. The Graduate Business Student Competition is part of the course curriculum for the Master of Business Administration program at Campbell directed by Dr. Edward Fubara.Photo copy: Campbell team wins Graduate Business Competition. From left, Dr. Shahriar Mostashari, associate dean for External Relations and faculty liaison at the Lundy-Fetterman School of Business; graduate students Charles Hibbard, Alison Smith and Marlisa de Fontes; and Dr. Edward Fubara, director of the Masters of Business Administration program at Campbell. Phot by Shannon Ryals.
Small business gets help from winning team