REQUEST FOR PROPOSALS
Course Title
Business in Action, Fall 2021 (Doughty)
Collaboration Overview
Northern Illinois University's Business in Action course provides students with an opportunity to add real value to a real organization through carefully designed student consulting projects that span across various topics and academic disciplines. Students will be split into teams of 4-5 so they can work to support each other throughout the project process. There are four different project scopes for the students to choose from and work on. Each section of Business in Action will have two teams working on each project scope.
Engagement Format: Live Case
Think "Hackathon" or Case Competition with a whole class of students! This learning format allows educators to deliver experiential learning to students at scale. Students are often split into groups to work on a live case (or a series of cases) from a real host company that directly relates to key learning objectives.
Timeline & Next Steps
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July 15, 2021
Projects are fully scoped.
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September 6, 2021
Project Revealed! Students apply for preferred project
Project Inspiration
Project templates by topic that might inspire you…
Corporate Social Responsibility
Strategy Development
Requirements Planning
Evaluation and Recommendations
Corporate Social Responsibility
We've included some sample project ideas below. We encourage users to mix-and-match components from various departments for the best cross functional project experience. In all cases, we customize the projects based on company goals and student learning objectives.
Define Corporate Social Responsibility Strategy
- Does the company currently engage in CSR?
- How well does the company’s CSR Strategy intertwine with the company’s core competencies, offerings, and business mission?
- Is the CSR strategy being effectively communicated throughout the marketing, HR, and PR departments?
- Does management seem to be aware of the overall CSR strategy?
Team Buy-in Assessment and Engagement Strategy
- How well does the average team member know about the company’s CSR initiatives? To what extent are they involved in the company’s CSR strategy?
- How can this be improved?
- What metrics are used to measure success? What alternative metrics should be included to enhance the feedback loop strategy on CSR?
External Partners Assessment
- Who is the company helping with regards to their CSR strategy? Who are the end user beneficiaries of the host company’s CSR initiatives?
- What third party partners are involved in helping reach this group?
- Are there others out there that could also be helpful?
- How mission-aligned are these third parties with your CSR goals and overall company mission?
- How can you profile and evaluate the relationships built through CSR initiatives? How does this set the tone for future endeavors? Are there key criteria for evaluating third parties with regards to CSR initiatives?
CSR Impact Assessment
- How does the company currently measure reach, impact, and value of CSR initiatives?
- Is the company fully capturing this value? If not, how can they improve the overall process of measuring impact and results?
- How should the company report and communicate their impact both internally and externally?
Customer Service
New Business Opportunity Assessment
New Product/Service Development
Customer Discovery/Interviewing
Customer Service
For your reference, we've included some sample project ideas below. We encourage educators to mix-and-match components from various departments so that the projects are cross functional in nature. In all cases, we customize the projects based on company goals and course teaching objectives.
Industry Customer Service Benchmarking Assessment
- Call the customer service line or inquire via email. Document your experience. How does this compare with competitors?
- What does the company do that makes their customer service more effective than competitors? What could be improved?
- How important is good customer service in this vertical or industry? How does it affect the lifetime value of the customer?
- How does the business model affect the level of service required? Is there any automation that can be incorporated into the process to increase efficiencies?
Customer Service Diagnosis Challenge
- How does the customer service team troubleshoot issues? How effective are their current processes?
- What is the most time-consuming part of the troubleshooting process? Is there anyway this can be automated?
- What process improvements would you recommend? Pay close attention to communication tools, knowledge base resources, and follow-up procedures.
Customer Service Process Improvements
- How long does it take for the issues and cases to navigate through the internal organization before arriving at a resolution?
- How can the process be optimized? Is information being circulated effectively internally?
- Should the company consider circulating certain materials externally as well? If so, how? Can we reduce redundancy by leveraging existing resources and cases?
Customer Feedback Driven Process Improvement Recommendations
- How does the company collect feedback from customers?
- Can you identify consistent feedback from customers related to the company’s product or service?
- What is the customer feedback process? How do the customers feel about the feedback process?
- Does the company use technology or social media to collect customer feedback?
- How can we better incorporate and address customer concerns before it escalates?
Customer Service Process & Technology Assessment
- What technology is the company leveraging to administer the customer service process?
- How does the company feel about the customer service process? Interview key team members inside and outside that part of the organization.
- What other technologies could possibly improve the process? What is the cost of implementing new tools?
- Would you recommend implementing new tools and procedures?
Data Management
Data Scrubbing & Reorganization
Data Synthesis & Visualization
KPI Design Visualization
Data Management
We've included some sample project ideas below. We encourage users to mix-and-match components from various departments for the best cross functional project experience. In all cases, we customize the projects based on company goals and student learning objectives.
Company Data Collection Inventory and Mapping
- What is the product and business model?
- How is the business organized from an organizational perspective?
- What main systems does the company use to organize and execute?
- What data is produced by the system as a result?
- What strategic goals does the data help address?
- What would flow chart of all the systems look like? What are the key data inputs and outputs within each system? How do they all connect to one another?
Create New Metrics (and KPIs) Using Company Data
- How can data from multiple sources be analyzed, organized, or visualized to provide more insight to internal and/or external users?
- Are there other potential use cases for the company’s data?
- What other data points would be useful to capture in order improve the quality and/or relevance of insights?
- What metrics would be best to use in order to showcase potential benefits and use cases?
Build a Sample Dashboard
- What company data is available? How reliable is that data?
- How can data from multiple sources be analyzed, organized, or visualized to provide more insight to internal and/or external users?
- Can you organize these key pieces of data into a preliminary dashboard?
- What procedure is required to keep the dashboard up-to-date? Are there any tools that could help with this process?
Marketing
Branding Strategy/Redesign
Social Media Optimization
User/Customer Acquisition Strategy Development & Testing
Marketing
We've included some sample project ideas below. We encourage users to mix-and-match components from various departments for the best cross functional project experience. In all cases, we customize the projects based on company goals and student learning objectives.
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Industry Marketing Benchmarking Analysis
- What is the company's target demographic, product, and business model?
- What is the customer’s problem and how the company's product or service is solving that problem?
- How would you compare the company's products with the rest of the providers in the industry? Pay close attention to how other companies are marketing their products and positioning the brands.
- How would you compare the company’s marketing performance to competitors?
- What improvements would you recommend based on your assessment?
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- Examine the company's past marketing strategies. What worked? What did not? How would you showcase progress over time?
- Compile data into a visualization to track trends of successful and less successful strategies.
- Compare the company's marketing tactics with competitors to showcase what works effectively - or not effectively - with certain customer demographics
- What other marketing strategies could be used to benefit the company?
- What technologies could be involved in different marketing strategies? How can you use them most effectively? How would you measure success?
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Marketing Strategy Development
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- What are the company's past marketing strategies? What worked? What did not? How would you showcase progress over time?
- What is the customer’s perception of the company’s brand, product, and services?
- Propose 2-3 digital, experiential, or social, marketing strategies for the company to consider. Assess cost, reach, mediums, and any other components needed for a full understanding of this investment.
- Select one campaign and develop a road-map that will prepare the company to launch your campaign. Keep in mind timing, required resources (budget, people, etc.), projected results, and how you would measure ROI.
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Customer Brand Perception Analysis
- Does the company assess their brand perception at all? If so, what do you find interesting about the process or findings?
- Conduct structured customer interviews to gain a better understanding of their customers’ preferences, purchasing habits, and decision-making processes. Consider: Demographics, Discovery Channels, and their Product Aptitude
- Suggest a new effective process to collect more customer data on brand perception and customer experience.
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Marketing Mix Assessment & Recommendations
- Consider a 360 marketing approach when deciding the appropriate channels to utilize. What is the current marketing mix for the company? Analyze where the company spends the most and where the company performs bests.
- Propose an alternative marketing mix for the company that you think will work best for the product, industry, and customer type. Where should the company allocate resources to generate better performance? Consider paid advertising, social, display, content, guerrilla , experiential, affiliate, partnerships, etc.
- What are the costs and benefits of using your strategy? What are the key risks and costs? Compare these risks with potential reach and benefit.
Operations
Process Design Review
Scalability Assessment
Inter-Departmental Efficiency Assessment
Operations
We've included some sample project ideas below. We encourage users to mix-and-match components from various departments for the best cross functional project experience. In all cases, we customize the projects based on company goals and student learning objectives.
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Analyze and Suggest Improvements for Internal Communication and Tools
- Investigate current ways the company’s team is communicating internally. How active is the company from a communication standpoint? What suite of tools are they using? How well are these tools integrated with one another? Consider: calendar, chat, email, and project management at the very minimum.
- Does the team seem to be using all of the same tools and doing so effectively? How do these tools compare to similar tools on the market? How do these tools affect productivity and employee satisfaction? Note: This assignment requires interviews and surveys of significant internal stakeholders at the company.
- Is there a cheat sheet when it comes to communication and project management at the company? If so, review the manual and provide recommendations on updates based on what you’ve learned from the company personnel. If not, produce a rough draft of the manual or cheat sheet and review it with your project managers.
- Provide the company with a proposal including the analysis of the status quo of communication in the company and thoroughly examine recommendations for future improvement.
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Automation Assessment & Recommendations
- What suite of tools is the company currently using? How well are these tools integrated with one another?
- How can the company be better automating certain processes to improve productivity?
- Find 2-3 areas that could use automation.
- Select one area of potential automation to focus on. Build automation or suggest step-by-step process of how automation can accomplish the desired business objective. How would this automation save money and/or time for the business?
Cross Functional Departmental Cooperation Assessment & Recommendations
- What are the different functional areas?
- How do they interact with each other?
- What improvements could you recommend to improve internal interdepartmental communication? Think standing meetings, internal newsletters, new checklists, and other mechanisms that might help improve cross functional department collaborations.
Reporting, Financial Planning & Analysis
Growth Analysis
Valuations Assessment
Financial Performance Analysis
Reporting, Financial Planning & Analysis
We've included some sample project ideas below. We encourage users to mix-and-match components from various departments for the best cross functional project experience. In all cases, we customize the projects based on company goals and student learning objectives.
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Develop Financial Statements
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- What is the company’s business model? What are the products? What makes them unique compared to competitors in their industry?
- Assess where financial data comes from at the company? What drives cost and revenues? How are these categorized?
- Build a set of comprehensive financial statements including a cash flow statement, income statement, and balance sheet. Ensure it’s consistent for the business since origin.
- What key insights and metrics can be derived from the financial statements? What types of process improvements and recommendations can you provide to the company’s management?
- How can the company continue to manage the financial statements on the go-forward? Provide the company with a step-by-step process when it comes to building and maintaining the key financial statements in for the future.
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Develop Predictive Financial Model
- What is the company’s business model? What are the products? What makes them unique compared to competitors in their industry?
- Develop a flexible financial model from scratch dependent on a set of assumptions that they can be manipulated to understand the dynamics of the business.
- How do the different cost and revenue components tie to each other? How will this change as the business scales?
- How should the team set goals for the next few years?
- Use the projections from your financial model to develop a Discounted Cash Flow model. Help the company determine its appropriate WACC and use that WACC and the future cash flows to determine a company valuation. Use industry benchmarks to determine if the valuation is reasonable.
- How will the company's growth plan affect the financial model you built in the last section?
- Interview upper management and the sales team to get an idea of scale over the next 6, 12, and 24 months. Update your financial model according to their scaling forecasts and goals. Develop these goals into a usable budget.
Financial Records Audit
- If the company uses cash accounting determine if they should be moved to accrual.
- If they use accrual accounting, determine if the following accounts are recorded correctly: 1) Deferred Revenue 2) Prepaid Expenses 3) Accrued Expenses 4) Fixed Assets & Depreciation
Talent Management
Talent Competency Mapping
Training & Development Curriculum Design
Talent Satisfaction Assessments
Talent Management
We've included some sample project ideas below. We encourage users to mix-and-match components from various departments for the best cross functional project experience. In all cases, we customize the projects based on company goals and student learning objectives.
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Company Talent Skills Mapping
- Get up-to-speed on the business model and organizational chart.
- How does the company manage talent? What’s the on-boarding process? How well is the company able to retain talent?
- How satisfied are employees with the current organizational structure?
- What crucial skills are required for each department/function? How do these departments link with other departments? Do they lend/share skills in between parts of the organization? Can this be done more efficiently or effectively?
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Organizational Vision, Values, and Goals Temperature Check
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- Get up-to-speed on the current business model and organizational structure.
- Does the company seem to have a clear organizational vision, mission, and goals? How does this differ when speaking to folks in different departments that are at different levels within the organization?
- How does the organization come up with the vision, values, and goals? How does management share this vision with the rest of the organization? Is this an effective process?
- Is there a way to measure progress when it comes to adoption of organizational vision, mission, and values?
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Talent Management Troubleshooting
- Get up-to-speed on the current business model and organizational structure.
- Interview key stakeholders and learn more about strengths and weaknesses of the current organizational set-up. Be sure to assess whether the organization has addressed any of these challenges previously.
- Synthesize data and distill challenges to 2-3 concrete challenge statements that need to be addressed by management. Why do you feel these are the most important based on your research?
- How can the organization address these challenges? Are there specific tools or tactics that might be able to help?
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Talent Optimization
- Get up-to-speed on the current business model and organizational structure. Where is the company most productive? Where is the company struggling?
- What are the main challenges that exist for struggling parts of the business? How far are they from meeting expectations?
- What is the final level of output that is needed?
- Map the output gaps.
- Map the inputs and processes that will be needed to achieve the desired outcomes.
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Recruiting Process Assessment
- How does the company recruit talent?
- What process does the company use to funnel talent into the business?
- What tools are most/least effective? How much does the company pay for those tools? Can you measure the ROI?
- What tools could the company be using more efficiently? Are there other tools or best practices that you’d recommend the company adopts? How would this impact the current process? How much would it cost and how would you measure the impact?
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Training & Development Program Creation
- Get up-to-speed on the current business model and organizational structure and identify a key function that has room for improvement in terms of process and/or technology.
- Get up-to-speed on the company’s current training and development tools and tactics.
- How does the department need to be trained? Can you repurpose some of the existing tools or structure for the training or will you need new materials?
- How will you measure success of your training?
Academic Mentors
There are currently no supervisors assigned.
Academic Program Details
School | Northern Illinois University (NIU) |
Course | Business in Action, Fall 2021 (Doughty) |
Graduate / Undergraduate |
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Students Enrolled | 40 |
Student Time Commitment | 4-7 Hours |
Class Meeting Day & Time* | Tues/Thurs |
*Note: Company, faculty, and students will finalize meeting and communication schedule after collaboration is finalized
Collaboration Requirements
Requested Industries | Restaurants, Bars & Food Services, Retail |
Requested Company Size |
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Duration | 13 Weeks (09/06/2021 - 12/10/2021) |
Location | N/A |
Company Time Commitment | 2 Hours per week of mentoring, answering key questions, and providing access to helpful resources |
Project Count | 4 |