“Experience is the
best teacher.” Typically, courses are taught from a high-level theory perspective,
this is especially true in the realm of economics. Don’t misunderstand, academic
learning is fantastic – understanding business concepts, learning to solve case
questions, and following historical progressions, But there is one caveat.
Often I find
myself wondering how I can apply what I have learned to what I would be doing
in the real world. A consistent, slight distaste seems to linger with me:
having diligently studied and paid attention all semester, I leave final exam
rooms often without the notion of how I can use those learnings in my future.
Rob Jiang and Jay Trewn present about their client GamerFront |
From day one,
students sought out various clients that they could provide their analytical,
creative, and problem-solving skills by means of Google’s AdWords program. The clients came from a broad range industries that
included non-profit child development, online job market, online gaming,
restaurant, health and spa, and investment management.
Professor Ridlon
provided several debriefing lectures and offered assistance throughout the
semester, but the seven teams worked autonomously for the overwhelming majority:
engaging the clients with proposals, interacting with the proper client
personnel, developing a business strategy limited by a 250 dollar Google
allocated budget, execution of that strategy, and ultimately providing a
business recommendation that clients can actually use. Students got the
opportunity to receive a comprehensive taste of consulting from start to finish.
As a business
economics and public policy senior in my final semester, the experience was
great in many ways. First, the project applied much of the course work that I
have previously taken. Game theory, managerial economics, technology in
business, and many more classes played a large role in the teams’ development
of strategy and economic analysis that led to business recommendations. The
capstone nicely ties together Kelley curriculum, especially classes within the
BEPP department.
Additionally,
understanding the process of client engagement has been invaluable. During
client meetings, we quickly learned that the client is not always entirely
certain of their own needs. In fact, we found a primary reason for hiring a
consulting group is to help them identify goals. We eventually understood that
to be successful, it is essential to be significantly patient, intentionally questioning,
and consistently flexible in order to tailor a unique strategy to unique
business requirements. I highly doubt a cookie-cutter approach would have been
sufficient for any of the clients.
Our client, like
many others, truly appreciated the work that these Kelley students were doing,
and they certainly expressed that sentiment. “This project has provided us with
very valuable business intelligence that we would have otherwise needed to pay
to receive,” said Chris Barr of GamerFront. At the completion of the various Google
advertising campaigns, a final satisfaction derived from the clients and all
their positive feedback. These organizations were particularly elated to have
actual, usable business intelligence at the conclusion. The free Google
advertising and consulting time was just icing on the cake.
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