A partnership that drives development and innovation
Here at The NUS MBA, we place experiential learning at the heart of our programme. One aspect of it is our NUS MBA Consulting Project, a course that lasts 2-3 months, where our students get the opportunity to explore some of the biggest questions faced by corporates and start-ups, and help find solutions to these problems. The course has been offered to more than 150 different companies across at least 12 different industries.
One of these companies is the grow Innovation Hub, a business incubator part of the Bosch Group. Jochen Lorenz, Head of Bosch’s grow Innovation Hub in Southeast Asia, shares more about how such a partnership drives development and innovation, as well as the real impact made by the NUS MBA students.
What an MBA consultancy project at NUS looks like
As part of the consultancy project, NUS MBA candidates work closely with grow platform’s network of startups. Because these students are working directly with companies during an important stage of their growth, Jochen shares that grow platform is very selective about who they choose for the project.
“We look into diversity – not only male or female – but also their background and culture,” he says. “We then select candidates based on their diversity, their domain, the skills they have, and most importantly, their attitude.”
“We’re definitely picky, but at NUS so far the performance has been great,” he adds.
Once grow platform has chosen the MBA students they would like to work with, the students set about applying the knowledge they have gained during the programme to the challenges faced by grow platform’s entrepreneurs. Jochen says this rapid shift from theory to practice is a real eye-opener for some MBA students.
He shares, “In my case when I did my MBA, it was all theory. But this is real life, and it’s happening right now. Usually, when we have our kick-off meeting, students look at me and say, ‘How could we ever answer this question?’ My answer is: ‘Welcome to reality!’”
NUS MBA students taking part in the consultancy project receive plenty of support. It’s a steep learning curve, but one that has immediate benefits once you reach the other side of it.
“We give them some coaching along the way with regards to methodologies that are maybe new to them,” says Jochen. “Then, once they come out of the project, they can see how they have impacted real business situations.”
How an MBA consultancy project helps further your career
Taking part in a consultancy project during your MBA does not necessarily mean you are fixated on a career in consulting. In reality, the true value of a consulting project is the opportunity to apply the skills you have gained during your MBA to real-life business scenarios.
NUS alone has worked with 150 different companies across 12 different industries, so you can put your knowledge to use in pretty much any industry you choose. That’s a valuable bit of experience to have – no matter which industry you’re hoping to break into post-MBA.
The company (or companies) that you work with during your consulting project may also provide you with career opportunities further down the line. Jochen says it’s common for the Innovation Hub to retain MBA candidates even after their consultancy project has finished.
He confirms, “It also happens that we attract and incorporate some of the candidates into our teams. We may also bring them up to our Innovation Hub or find them some other positions within the company. We don’t let the brilliant people go – we let them stay!”
An MBA consultancy project represents an invaluable opportunity for MBA students to apply their learnings from the programme to real-life businesses. You might, for example, analyze business challenges, develop a business plan, and then communicate it to key stakeholders. The decisions you make and the advice you offer will have a direct impact on real businesses, so the stakes couldn’t be much higher.
It’s intensive, it’s challenging, and it’s very hands-on, but the rewards at the end of a consulting project are more than worth it.
This article is an adapted version of the original article, “Behind the scenes of an MBA consultancy project at a top business school” by MBAGRADSCHOOLS.
In our video series which focuses on the NUS MBA industry partners, we look at the huge role our corporate partners play in helping us develop high-calibre talents and future global business leaders, as well as in the exchange of invaluable expertise, insights and connections. Watch all the videos in this series here.
