What We Do
The inspiration for Rockefeller Business Management came from a class at Babson College called The Foundations of Management and Entrepreneurship. In the class, students are broken up into teams of ten, given a loan from the college, and required to effectively start and run a business throughout the length of the academic year. During this process, the students are mentored by faculty members who instruct the basics of accounting, operations, marketing, etc. In our eyes, the beauty of this idea was the fact that students were given the ability to complement their time in the classroom with the rare opportunity to learn by doing.
RBM adheres closely to the structure of the class after which it was modeled - however, there are a few deviations. The official format of RBM is as follows:
RBM adheres closely to the structure of the class after which it was modeled - however, there are a few deviations. The official format of RBM is as follows:
- At the start of each quarter, members convene for the purpose of generating ideas for a business project. Ideas may consist of an entirely new entrepreneurial venture or of a partnership with an existing entity. Members will collectively agree (by way of a vote) upon one idea which will be pursued for the remainder of the quarter.
- If startup capital is required for the project, one of two options will be selected: members will either independently fund-raise the capital or they will apply to student government for funding.
- Once the necessary capital is raised (if capital is necessary), members will begin the process of business plan writing. This may include: market sizing, budgeting, marketing, etc.
- Once the project is underway, members will begin performance analysis. This may include: data collection, data analysis, the creation of financial statements, etc.
- At the end of each quarter, members will reflect upon what they learned from the project. What worked? What didn't? What could be done to avoid past pitfalls in the future? Members will also decide whether to retire the project or to continue it into the following quarter.
Prior ProjectsRBM has had the good fortune to work with some amazing companies to date. Please click on the 'Our Projects' link to review our experience.
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CharityIn addition to instructing the fundamentals of management, RBM places a tremendous focus on charitable ventures. Each year, members participate in a variety of races for the benefit of cancer research. These include the Chicago Marathon, the Susan G. Komen Race for the Cure, and many others. Running is not the only way we strive to give back - we are always searching for new ways to help the community. If this is something you're passionate about, we would love to have you as part of our team!
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