Experiential Learning vs. Case Study Method is a deeply debated topic. One goes with the assumption that learning through action is the best form of reinforcement learning while Case Study Method values the power of reflection instead of just experiential learning that has strict limitations on the potential solutions.
At NYU Stern, the Consulting skills are learned through three programs – Stern Solutions, Stern Consulting Corps and DBI (Doing Business In)
Stern Solutions
For career switchers and those who are seeking a wider pool of consulting clients, Stern Solutions is designed for this objective. The semester or year-long for-credit engagement involves groups of 3-5 students that offer consulting solutions on a broad range of problems and industries.
Some of the past engagements include:
1) Partnering with the World Wildlife Fund, McKinsey & Company, and the Fujairah municipality in launching the first national park in the UAE
2) Reinventing Mastercard’s platform – priceless cities, to help customers optimize their travel experience through special discounts and unique offers.
3) Supporting non-profits in New York City to prioritize their strategic and operational goals
4) Helped San Antonio Spurs manage their Star players through a data-driven rest and play schedule that optimized the team’s season performance.
Stern Consulting Corps (SCC)
SCC (Stern Consulting Corps) program, the 10-week consulting engagement, is one of the popular experiences where aspiring consultants from Stern Full-time MBA analyze the organization’s problems and break them down into its elements. Students offer a six-step solution: initiating the project, setting up the quantitative toolkit, performing qualitative and process analysis, developing risk management and implementation plans, creating the final presentation, and doing an end-to-end analysis.
The program, unlike industry-based immersion, cuts across disciplines and provides a fuller understanding of the organization and the impact the decision has on each department. With the consulting engagement, NYU Full-time MBA Students offer real solutions to organizations as diverse as City Harvest, WWF, UNICEF, Alvin Ailey American Dance Theatre, Harlem RBI, and Eileen Fisher.
The project is implemented in conjunction with a 1.5 credit course, ‘Consulting Practice: Process and Problem Solving.’ The Senior Management expects Stern MBA to bring their functional expertise in strategy, marketing, financial analysis, and operations to the project. More than the experience, organizations expect consultants to do fact-based analysis and look at problems with a critical eye. What it does is that in the classroom, students learn how consultants approach complex problems, and during the SCC project, they apply the concepts to real business challenges. With immediate feedback on what is working and what is not, students develop a deeper understanding of the consultative process.
DBI (Doing Business In)
An MBA is not just about the experience in the classroom, and that is true for NYU Stern. The curriculum is structured to give MBA candidates the opportunity to apply what they have learned and widen their perspective through the Doing Business in... (DBi) Program.
This experiential learning program takes the students to a country and exposes them to the culture, politics, banking, and ‘ethical norms.’ The corporate visits are an integral part of DBi, where students learn about the company’s innovations and challenges.
With Doing Business in (DBI), students will get the opportunity to work on projects in Singapore, Brazil, Hong Kong, Australia, and Israel. Apart from traveling, students will learn the history of iconic Businesses from World War 2 to present-day India, China, Russia, South East Asia, Argentina, Chile, the European Union, and Saudi Arabia.
Stern MBA class uses case analysis to evaluate the point of view of policymakers, investment bankers, and other key players in the crisis. MBA candidates interested in working for the Government, Financial Services or looking forward to implementing their Entrepreneurial Dreams will find the specialization useful.
How Stern MBA Consulting Programs should be mentioned in MBA Application Essays?
In your essay, you must mention how experiential learning will broaden your perspective. If you have traveled previously but have missed a few countries on the DBi list, express your eagerness to be part of the program and offer the reasons for your interest in the country.
How will that experience help your post-MBA goal?
If you were to work in Finance, how would experiential learning programs help you introduce a new financial product to the market?
What can the culture teach you about facing challenges? This question is an important one. Don’t just make it all about post-MBA goals. Bring personal development into the mix.
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