Business Knights Earn Small Business Institute® National Honors
ORLANDO, FL — Two student teams from UCF College of Business earned second place honors in the Small Business Institute®’s (SBI®) annual Project of the Year competition, which was held in the spring.
The Small Business Institute® (SBI®) provides professional development for those engaged in experiential student team consulting and related entrepreneurship education, research and activities and the link between business, education and community.
In competition with MBA teams from across the country, the college’s team of Jonathan Diaz, Carter Howard and Danielle Mayers (top photo) won second place in the “Graduate Specialized” category on the strength of its consulting project for Lost Returns, Inc. of Winter Park, Fla. The reverse logistics company specializes in managing lost and found items with a strong niche in the rental car industry. It received the team’s assistance in the form of an in-depth sales and marketing strategy which provided full industry and competitive analyses; professional sales, marketing and customer service solutions driving scalability of the business; and visibility into both potential new market verticals and competitor positioning to help guide strategic decision making.
The team of Eric Sungadi, Sorabh Gupta and Williams Ambroise (pictured at right) was awarded 2nd Place in the ‘Graduate Consulting Project’ category for its consulting work for Oviedo-based Rhythm & Blues Enterprises, the operator of Tijuana Flats fast casual restaurant franchises in Central Florida. The team conducted primary and secondary customer research and competitive analysis, and the final report included marketing and operational recommendations aimed at increasing revenues.
Both teams worked with faculty advisor Dr. Carl Blencke as part of a management class.
“The UCF College of Business applauds our students on winning these important awards,” said Ron Piccolo, Ph.D., Galloway Professor and Chair of the Department of Management. “Our course offering utilizing the SBI® program is an important educational partnership between UCF and the FSBDC, which contributes to the quality of the student educational experience at the University of Central Florida.”
“UCF’s and my own congratulations go to the winners of the 2020 Small Business Institute® Awards,” said Mike Kilbride, Assistant Vice President for Administration and Operational Innovation in UCF’s Office of Partnership and Innovation, with oversight of the Florida SBDC at UCF. “Experiential learning for our students and economic development support for our small business community are both mission critical at the University of Central Florida.”
“The success achieved by these impressive students is truly gratifying for the FSBDC at UCF,” said Eunice Choi, Regional Director for the FSBDC at UCF. “The SBI® program continues to be an excellent way for the FSBDC and UCF to support small businesses in Central Florida while also introducing UCF students to the world of business consulting.”
FSBDC at UCF sponsors the Small Business Institute® in Central Florida and, in conjunction with the Department of Management at the UCF College of Business, manages the SBI® program locally. It recruits and evaluates FSBDC clients for the program, lends FSBDC consultants as SBI® case supervisors and provides a range of guidance and support. The FSBDC is part of the UCF Office of Partnership and Innovation.
At the UCF College of Business, SBI® is a graduate‐level elective course. Students enrolled in the class provide management consulting services to local small businesses. Each student team has direct contact with the client and produces a professional case report. The report is the ultimate product of the program and is tailored to each business. Case study reports have included market research, marketing plans, competitive analysis, advertising strategy, customer surveys, strategic plans, financial analysis, human resource manuals and business plans.
SBI® is a nation‐wide program that provides high‐quality business assistance to companies in need while providing an extraordinary opportunity for university students to learn through field case studies. Each project is led and conducted by a group of students under the supervision of an SBI® Director or faculty member. The experience is often cited by students as being one of the most rewarding of their academic careers. In today’s collegiate environment there is a strong emphasis on experiential learning, and the SBI® has been at the forefront of this movement for more than 30 years.