Student Consultants Contribute to North Carolina

here do North Carolina companies turn when they want help creating an export plan for their product? This year, a number of them are looking to UNC Kenan-Flagler MBA students.

As part of the Student Teams Achieving Results (STAR) program, over one hundred MBA students have participated in 13 consulting projects for businesses and economic development organizations across the state. Working in concert with successful business leaders, students enhance their classroom learning with real-world experience, while companies receive free assistance to improve their competitiveness in the global economy.

For the program’s pilot project in 2005, students helped Greensboro, N.C.-based Beard Hardwoods develop an export strategy to furniture makers in Mexico. Their plan worked: Beard’s sales increased by $250,000 in a year’s time. “The results far exceeded what we expected out of the program,” company President John Beard said.

Other North Carolina businesses that have participated include: Cornerstone BioPharma (pharmaceutical/bio-technology company that makes critical care products), Hardin’s Wholesale Florist, Liquidia (nano-technology product development firm) and 2Thumbz Entertainment (wireless mobile phone content provider specializing in college-licensed material).

Clients have been impressed with the students’ expertise. “The students’ analytical and quantitative skills were excellent. Their communication and teamwork skills were also clearly evident in their interactions with each other and their interactions with executives,” said Brian Dickson, chief medical officer of Cornerstone Biopharma.

This year, both the number of client companies and student participants have increased. Second-year MBA students who were project team members last year are taking over leadership of the new projects and passing on their lessons learned. STAR Program Director Ed Cornet, former managing partner at Booz Allen Hamilton Consulting, believes the experience students gain while working on the STAR projects accelerates their leadership development while significantly impacting the companies they help.

“By helping these companies improve their performance and competitiveness, UNC Kenan-Flagler is directly contributing to the continued health of North Carolina’s economy,” Cornet said.