nearly 1,000 for-credit action learning opportunities —
including some that qualify as "experiential learning
on steroids," according to Sunil Chopra, senior associate
dean for curriculum and teaching. These tailored courses provide
students with a wealth of hands-on education in a specific
career field. In addition to Global
Lab and Medical
Innovation, these include:
Entrepreneurship & New Venture Formulation
to entrepreneurial careers can try to get their ideas off
the ground through this highly interactive course, which covers
the process of new venture development.
Students learn to screen
for ideas, identify and define the fundamental issues relevant
to the new venture, identify their market niche and define
their business strategy. They also determine how much financing
they will need and how the funding should be raised. Each
team pitches its business plan to a panel of investors, which
provides feedback, and sometimes funding. The class has launched
many successful entrepreneurs, including Paul Earle '99,
founder of River West Brands. The firm, which was the subject
of a May profile in The New York Times, acquires and
reanimates discontinued brands.
Another product of the class
is The One Acre Fund, created by social entrepreneur Andrew
Youn '06. The growing nonprofit empowers farm families
in East Africa to lift themselves out of poverty. Youn launched
the organization after drafting a business plan for the class
and has gone on to raise hundreds of thousands of dollars
and earn widespread media attention for his efforts.
Introduced in 1974, the course
is now taught by Barry
Merkin, clinical professor of entrepreneurship, and James
B. Shein, clinical professor of management and strategy.
Both spent years working with new businesses before joining
the Kellogg faculty.
Asset Management Practicum
students aspire to careers in financial services. To obtain
those jobs, hands-on practice managing a real portfolio is
invaluable. The Asset Management Practicum offers students
the opportunity to do precisely that, by managing $3 million
of the Kellogg School's endowment.
The work is done under the
supervision of Kellogg faculty, who nonetheless encourage
students to make their own decisions. "We have investment
guidelines, but they are allowed some latitude in the exposures
they choose to take on," says Robert
Korajczyk, the Harry G. Guthmann Distinguished Professor
of Finance and co-director of the course along with Linda
Vincent, associate professor of accounting.
During the year-long class,
students use their own analyses to determine portfolio positions,
trading strategies and asset allocations. They rotate across
the roles of industry analyst, hedge fund fund-of-funds manager,
trader, quantitative analyst and portfolio manager.
Leading practitioners visit
the class to discuss the market and future trends in the industry.
Recent speakers include Jerome Kenney '67, vice chairman
emeritus of Merrill Lynch, and Jack L. Treynor, president
of Treynor Capital Management.
is a quarter-long internship that gives students the chance
to experience the day-to-day workings of a Chicago-area buyout
firm. Participants assist with deal selection, due diligence
and investment efforts. The course admits students by application
only and is taught by Kellogg Clinical Professor David
Stowell, former JPMorgan managing director.
The class is designed for
students who do not have extensive buyout experience but would
like to pursue a career in the field. Those selected dedicate
one full day a week to the buyout firm's office and are expected
to spend at least 10 hours each week on related work.
In addition to the internship,
students meet in class during the first week of the quarter
and have required readings as well as discussions. They also
complete a project report based on their work for the fund.
The class was offered for
the first time in April, and launched with a talk by Madison
Dearborn Partners Chairman John Canning Jr., who shared
insights from his own career and discussed issues facing buyout
is structured similar to Buyout Lab. It allows students
to spend one day per week working for a local venture capital
firm, focusing on investment opportunities and due diligence.
As with Buyout Lab,
students are admitted by application only and must complete
a final report on their work for the firm. The course is geared
toward students without venture capital experience but with
aspirations in that area.
Peterson, the Glen Vasel Professor of Finance, and Yael
Hochberg, assistant professor of finance, teach the course,
which was added to the Kellogg curriculum in January.
The class was launched with
a talk by T. Bondurant French '76, chief executive
officer and chief information officer of Chicago-based Adams
Street Partners. French shared lessons from his career and
his firm, which manages $15 billion in private equity assets.
Governance of Nonprofit Boards
students hope to serve on nonprofit boards at some point in
their careers. This program allows them to have that experience
sooner rather than later.
Up to 48 students each year
are matched with a Chicago-area nonprofit board of directors.
The students serve as nonvoting members from the spring of
their first year until the June of their second year. Each
student completes a project for the organization — creating
a marketing plan, for example, or analyzing data or building
a Web site.
In addition to this service,
the board fellows complete two courses in board governance.
These classes allow students to study best practices, examine
trends in nonprofit governance and exchange insights. The
program is led by Anne
Cohn Donnelly, a clinical professor of social enterprise
with extensive experience in the nonprofit field.
Organizations that have hosted
Kellogg students on their boards include Girl Scouts of Chicago,
The Field Museum, Chicago Communities in Schools and the adoption
agency The Cradle.
Lab matches students with companies and nonprofit organizations
that have specific management questions.
In addition to attending
several lectures, students in "M-Lab" work directly
with corporate and nonprofit clients on issues ranging from
marketing to financial analysis to business plan development.
Faculty members meet throughout the quarter with each project
team to identify issues and provide guidance. Consulting mentors,
typically Kellogg alumni, are made available to advise on
specific issues students might face.
Students also are given an
assist by partners from firms such as McKinsey & Co. and
BCG, who visit the class to discuss the consulting process
and necessary skills.
Recent projects have included
business development for a technology manufacturing company,
STP analysis for a winery in Northern California, the creation
of an online travel accommodation service and the design and
implementation of a telecom marketing plan.
The class, led by the faculty
team of Bala
Balachandran, Hall Sullivan, and Michele
Rogers, is a longstanding part of the Kellogg curriculum.
Until recently, it was known as LEAP.