Student Consulting Firm Runs at Rady School’s Beyster Institute
(Reprinted with permission of Owners at Work, the magazine of the Ohio Employee Ownership Center)
The Beyster Institute has launched a student-run consulting service, an experiential learning project staffed by students and recent graduates and advised by the Institute’s two experienced professionals — Anthony Mathews and Martin Staubus. Student members of the firm “learn by doing.”
The service explains employee ownership to businesses, business leaders, students, professors and public policy makers, and assists client firms. Students can serve as interns or junior consultants.
Comparing the consulting firm to a student-run clinic like those at dental schools and barber colleges, Institute Director Mathews says, “We consult on specific matters and help design specific applications for reasonable fees that are paid to our university. In the process, we have created about 100 MBAs who are very familiar with employee ownership opportunities and potentials.”
Beyster interns standing (L to R): Lili Yang, Ben Durwood,
Michael Krause and seated Mengju Wu
James Colligan, a 2009 Rady MBA and now a junior consultant for the Institute, writes, “The position is one of the finest a recent MBA could secure, replete with exposure to all shapes and sizes of businesses which all share the same goal of adopting broad-based employee ownership.” Junior consultants educate interns about employee ownership and the details of establishing a consulting practice.
Colligan points out that the main point of consulting at the Institute is education. “The result is a consulting practice whose business is driven and guided by senior consultants, but largely executed in the trenches by capable MBA students with a new-found appreciation for employee ownership.”
“The education is phenomenal,” he continues. “Given the broad impact that ESOPs have on an adopting company, interns are exposed to myriad real-world issues involving principles of accounting, financial reporting, the cost and structure of debt and equity financing, personal and corporate tax implications, corporate communication and even the psychological impact of ownership on employees.”
The Beyster Institute exists within the Rady School of Management at UC-San Diego, and offers elective courses and public lectures on employee ownership.