January 2010 Archives

A recent Wall Street Journal article by Diana Middleton states that "a small but growing" number of companies are choosing University Executive Programs over consulting firms for "timely real-life solutions to their problems."  

For those of us in academia, this is a very encouraging trend.  In the past there was a tendency to place a somewhat lower value on the consulting outcomes produced by universities compared to those from expensive consulting firms.  In other words, the value was linked to the price, with a large price difference (of at least one order of magnitude) between consultants and executive programs.  

However, in these challenging economic times, companies must deal with a number of problems, some related to increasing efficiency and others to increasing revenue. Companies can no longer afford to spend hundreds of thousands of dollars to formulate creative and effective solutions and are now looking to the value-proposition offered by university executive and consulting programs.  

I believe that the key to university consulting success is summarized by the University of Chicago's Booth School of Business.  That is, "the school takes on clients only if the faculty members are interested in the project, or if it is relevant to their research, and if they are willing to work with the company on a follow-up.  Simple training programs are rejected in favor of programs that faculty members co-create with the client's senior executives."  Schools must recognize, just as Chicago has, the big difference between "simple training" and consulting.  Faculty members must find the projects intellectually stimulating and be interested not only in publishing results but also in a successful implementation.

At the Leeds School, consulting involves faculty, students and staff and is executed through our Business Research Division (BRD).  Currently, for instance, the BRD is engaged in an economic impact study for the possible relocation of the National Western Stock Show.  We also coordinate student projects with local companies such as Vail Resorts, Crocs and Coors, to name a few, through our Center for Business Integration.  And, we offer executive training through our Executive Education Program.

We know through successful projects and testimonials that we provided tremendous value to the companies that have engaged in projects with us.  I hope that the trend mentioned in the Wall Street Journal article continues and our consulting activity grows for the benefit of both our corporate partners and the Leeds School.

Sports-related business is an ever growing source of employment and new-venture opportunities for university graduates.  Here in our backyard, Denver is the home to five major sports teams: Broncos football, Rockies baseball, Avalanche hockey, Nuggets basketball and Rapids soccer. Jobs in the sports industry range from those within a professional sports team to sports facilities, apparel, management, marketing, media and broadcasting. Preparing students for jobs and opportunities in the sports and recreation industry is a natural fit for a specialized program within a business school.  

To that end, we are in the final stages of the approval process to offer a two-month intensive Business of Sports Certificate.  The program is a "business boot camp" for students interested in pursuing careers in the sports and recreation industry. It would combine core business training in management, marketing, finance, operations and accounting with specific topics that relate to the sports industry, such as union negotiations, venue utilization, revenue management and attendance, promotions and licensing, and information technology and ticketing.  

Classes are structured so in the morning, students will learn basic business concepts which will be integrated with industry specific sports' topics: the Economics of Sports, Sports Marketing, Sports Management and Leadership.  In the afternoon, students will be working in groups on experiential, researched-based projects. Each group will be assigned a specific project designed by one of our contributing partners: Alem Inter-national Management, CU Athletics, Denver Broncos, Kroenke Sports Enterprises (Colorado Avalanche, Colorado Rapids & Denver Nuggets), Metro Denver Sports Commission, Phoenix Mercury, USA Rugby and Vail Resorts Management. Throughout the two months, students will have opportunities to work with industry experts in these professional companies and organizations.

There are great examples of successful programs in sports management, such as those offered by NYU's Master's of Science in Sports Business, a Graduate Certificate in Sports Business, and a Bachelors of Science in Sports Management. Our program is intensive and is offered to both business and non-business undergraduate students, distinguishing it from the NYU programs, and offering us a diverse pool of students.
 
The certificate curriculum is the culmination of more than two years of planning that involved Leeds faculty, University of Colorado Athletics and partners from the sports industry.  We are very excited about the opportunity to offer this new program and believe that will be of great benefit to those who choose to enroll.
 
For more information, please contact our Interim Director of Executive Education Robin.Miglarese@Colorado.edu.