The MBA business project can take many forms but what we are talking about here is where an MBA student in the middle or at the end of their course perform a consultancy project for a business. In theory, they should be paid for this, and this would be a very useful help in funding your MBA course. But what this really gives the student is experience. Experience in a new industry, experience in finding out a customer's requirements and delivering to their expectations. Experience maybe in a new sector or in a new industry or in a new role or part of a business.
What the company that you perform the project for gets is something that will save them money and save them time. The business project should add value to the business - with a new perspective available on the organization, and this from someone who is high quality - familiar with the current academic business research and thinking. In many MBA programmes, the business project will be the final piece of assessed work. Students get the opportunity to apply the skills and the knowledge that they had gained during their time on the course. Students cannot get the famous three letters after their name without getting over the hurdle of the business project. They get to charge a lot more for their services once they have got over this hurdle - so it's worth it for them even if they don't get paid a lot for it.
On British one year courses, the time in which students will undertake the business project is between early in July and the end of September. Students need to look for projects from early Springtime onwards, and the earlier that you start to look for a business project the more chance you have to get a really good one. More importantly, companies should be encouraged to come to business schools early looking for students as then they will get the highest chance of finding the one that is most suitable to the needs of their business.
If you are a business and you know that you have a problem or a general issue that you feels is worthy of study, then you don't have to decide for yourself whether it is something for a business project. Instead, get in touch with a business school, and run the issue or problem by them, and see whether it is worthy of a project. Be aware that there needs to be sufficient analytical rigour in the solving of that problem for it to be acceptable as an MBA project. The business school can advise you on the best way to progress.
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