SDSU Department of Management
College of Business Administration
International Business Opportunity Development (IBOD)
International Business Opportunities Development (IBOD) project is a collaborative project between MBA students at the San Diego State University (USA) and small- and medium-sized companies in other countries (although US-based companies can also participate). The goal of the project is to pair small (3-4) student teams with companies interested in developing business opportunities in the U.S. market (or occasionally in other countries) whereby the students undertake market research on behalf of such companies as a part of their coursework. Under the guidance of Dr. Musteen , the students develop the most appropriate strategic plan for entry into the U.S. market. The companies involved in the project agree to interact with the students on a regular basis (weekly or bi-weekly) via Skype and email to respond to the queries and to provide the students with the opportunity to learn more about their businesses and gain insight into the workings of their industry.
To date, students have successfully collaborated with firms from New Zealand, Slovakia, Germany, Chile, Rwanda, Mexico, India, Jordan, US and South Africa. For more information about the IBOD project, please contact Dr. Musteen.
Benefits for Involved Companies
Responsibilities of Involved Companies
Benefits for Involved Companies
The companies that participate in IBOD are expected to benefit in many ways. In essence, they gain access to “unpaid consultants” in one of the largest, most lucrative markets in the world. Based on the specific company’s objectives and industry characteristics, the students can perform the following tasks:
- Assessment of market potential
- Industry analysis and competitor matrix
- Market research
- Store observations
- Consumer trials
- Surveys, interviews and focus groups
- Visiting potential clients or partners
- Visiting pertinent trade shows
- Analysis of importation regulations including tariffs and import requirements
- Gathering contact information on potential distributors
- Any other tasks that the companies find helpful
The students involved in IBOD consist of capable individuals, many of whom have substantial work experience and/or own their own businesses. Most of the students are close to completion of their MBA degrees. Because the IBOD project accounts for a large portion of their final grade, they are motivated to produce valuable results. It is not unusual for the students to spend 5-10 hours a week working on the project-related activities for the period of 2.5 months. Their findings are summarized in a final written report given to the company at the end of the semester. However, should the companies require the students to conduct activities that require out-of-pocket expenses (e.g. for travel or attendance of trade shows), they should arrange for reimbursing the students accordingly. A confidentiality agreement is typically signed by the students at the beginning of the semester. Some companies agree to provide funds for students' budget.
Responsibilities of Involved Companies
The companies agree to provide contact information of an English-speaking person with whom the students interact through out the project. The suggested interaction between the students and the company representatives is a weekly or bi-weekly Skype meeting as well as email. Communication between the company and the students is one of the key conditions for success of the project.
Since 2007, the IBOD program has involved many companies and students. Here are some of their testimonials:
- Having a team of high-achieving, business-focussed professionals apply themselves to understanding and assisting us with our business objectives has been immensely valuable. Actually having people on the ground in the US asking the right questions and proactively gathering insight for the benefit of my business has had a significant impact on our strategy and future direction. ~~ Michael Scott, CEO, Hunter Safety Lab.
- The IBOD project has provided us with a clearer view of our next steps into the US market, Not only has it confirmed things we have learnt in other markets but has given us increased direction and focus for the USA, it has given us alternative ways of looking at considered paths and clear reasoning behind the suggestions to do and not do different things. ~~Matt Beckett, General Manager, Blokart International.
- My team has given me an invaluable insight into a market which is far more evolved in terms of our product offering and has far more active participants than we currently have here in Australasia. Their honest, detailed and constructive feedback will be used to shape our roadmap and marketing strategy as we take our product to global markets. We will be implementing at least 2 of their recommendations this week. Their backgrounds were well matched to the project, their personalities engaging and their dialogue with me has been thoroughly enjoyable. I will be recommending this program to all my peers, and am more than happy to act as a referee should you have any company contemplating taking part in this program. I can’t thank you enough for selecting Greenkeeper Systems, be confident that the work of your team will have a positive and lasting impact on our business. ~~ Helen Joronen, CEO, Greenkeeper systems .
- Our company has been significantly helped by our IBOD team not only positioning our product accurately in the marketplace, but also providing a firm ROI on a specific disease state that our product is capable of delivering to Payers in the US healthcare industry. Couldn't ask for more! ~~ Hamish MacDonald, CEO, Lifetime Health Diary .
- The thorough research undertaken , their ability to address all the issues and objectives of the project and their ability to go, on their initiative, go the extra mile to secure additional valued information to assist the project, was most beneficial and much appreciated ~~ Bruce Robertson, Scionon Limited.
- The process of proposing a plan for study forced me to organise my thoughts. Then the thoroughness and structure that the students brought to the project has provided an excellent framework for us to use going forward John Bowmar, Director, Acma Industries.
- The team engaged willingly and constructively. They bought an in-market perspective to our product and provided valuable comments, thoughts, insights and suggestions on how to improve our product and position it in the US market. ~~ Ross Hugson, General Manager, myINFOSAFE.