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Capstone Project Strengthens M.B.A. Graduates’ Business Skills Students apply online learning to develop and assess business plans. Not every university gives students the opportunity to educate young adults about safe Internet use or to examine the finances of a local bookstore while working toward an M.B.A. Walden University is an exception. Walden launched a capstone project in 2007 to help Master of Business Administration (M.B.A.) students apply their learning to real-world scenarios. Students can create their own business plan or act as a business analyst or consultant to an existing business. The capstone project is built into the core curriculum so that students address a section of their project in each course. During the capstone course in the final semester, students work with a faculty member to complete the project. Spreading the capstone project over the entire program allows students to work with faculty members during individual courses on different topics. This prevents a “last semester mad rush” to complete the project. Kathryn Tilley and Eric Lunde are among the first group of M.B.A. students who have graduated upon completing their capstone courses. Tilley: Teaching Proper Internet Use Driven by her desire to protect young adults from Internet misuse, Kathryn Tilley developed a hypothetical business plan for a company called America’s Children and Technology Now (ACT Now). Tilley says she has had the idea since she enrolled at Walden but needed to gain skills through the M.B.A. program on how to develop an executive summary, perform financial predictions and search for potential investors. Tilley’s mission is clear: save lives and look after children. As a former high school English teacher, Tilley has experienced firsthand the negative consequences of children improperly using social networking sites. For example, one of her students was denied a college scholarship because of information on the student’s MySpace page. This, coupled with news stories about a student’s suicide following the circulation of an inappropriate photo, prompted Tilley to address this social problem. ACT Now’s target audience would be teenagers in middle school and high school. Tilley says, “They don’t fully understand the ramifications of what they are doing and how it can affect them down the road” when college admissions officers or potential employers check to see what they’ve posted on the Internet (not to mention the threat of sexual predators). Building on her background in theater, Tilley developed an interactive approach to her business. ACT Now lessons would be portrayed through skits with experienced actors. Tilley even drew from the drama theme in her business plan presentation, naming her slides “In the Wings,” “Center Stage” and “Take a Bow.” As a working business, ACT Now would offer forums and discussions with educators and talks about technology trends. “We don’t preach; we educate in a nonthreatening way,” Tilley says. Tilley plans to develop ACT Now into a working business if funding becomes available in the future. The Takeaway As a corporate trainer with Visionary Medical Systems in Tampa, Fla., Tilley says she uses her M.B.A. skills daily. “By attaining an M.B.A., I have not only more knowledge and skill, but also confidence and pride that I accomplished something so monumental,” she says. “All my M.B.A. coursework can and will help me in my career endeavors, regardless of what I do and where my career takes me.” Lunde: Helping a Local Business in Need With a background in marketing and nonprofit healthcare, Eric Lunde enrolled in the M.B.A. program at Walden University because he was “looking for a key to unlock multiple doors to my career path. An M.B.A. was that key for me.” For his capstone, Lunde evaluated the business plan of a Christian bookstore in his town of London, Ky. Though the bookstore had been in business for almost 20 years, the bookstore’s sales had been steadily declining for six years. “The owners were in need,” Lunde says. “I thought they could benefit from my help.”
The Takeaway “The best part of the capstone process,” Lunde says, “was that we spent a week on each component of the business plan: marketing, accounting and so on. After studying these topics, I shared my knowledge with the business owners and added that knowledge and their feedback to the business plan.” Lunde says his capstone project, along with the M.B.A. coursework, has prepared him for future success in an extended hospital role, such as chief operating officer. “I want to make global decisions that impact the entire hospital community,” he says. “I want to help guide the decisions that make the health care experience positive for patients, family members, staff, physicians and the community we serve.” Learn more about Walden’s M.B.A. program.
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