International Residency

MBA 570 Global Environment of Business/International Residency is an integral component of the Richmond MBA at the University of Richmond's Robins School of Business. The course includes on-the-ground experience outside of the United States and it is required of all MBA students.

Cuba 2013

The focal point of the course is the International Consultancy Project (ICP). Students are divided into three to five-member teams. Each team is assigned a client - an actual company - and the team works with company management on an international business issue. Clients can be based in the U.S. or in the country where the international residency will take place. For U.S. based clients, the teams usually explore market opportunities for the firm in the residency country. When the firm is based in the country of the residency, the teams usually do research on the feasibility of the client entering the U.S. market. While most ICPs are conducted for for-profit business, some are done for NGOs. There is no fee for the ICP - neither the Robins School, the University of Richmond, nor the students receive any fees or expense reimbursements for the ICP and ICP-related activities.

The course consists of three components: 1. pre-residency orientation, familiarization and background research, 2. international residency and field research, and 3. post residency research and report preparation. Component 1 is conducted in Richmond and usually requires six, three hour long class meetings. During this segment students are given an overview of the historical, cultural, political, and economic situation of the country in which the residency will take place. This segment utilizes the Robins School and Arts & Sciences faculty, business executives, and diplomatic staff who brief students on the history, culture, political system, language, economy, and business situation in the residency country. Teams also commence preliminary research for their ICP client.

In the second component the students visit the residency country - usually for seven to ten days. During this time they visit a variety of businesses and NGOs and are briefed by government officials and by academicians. A major aspect of the residency is the in-depth meetings with ICP clients. At this time each team gets first-hand briefings from its ICP client. These meetings with management allow the team and the managers to discuss the client's needs and expectations.

When the students return to Richmond, the third component of the course begins. During this period the teams begin extensive research to meet the objectives of their ICP client firms. Upon completion of the research the teams prepare a detailed written report and presentation. The report and presentation (PowerPoint with a voice-over) constitute the course deliverables. Teams are required to submit three bound copies of the final report along with three CDs each containing the report and the PowerPoint voice-over presentation. The report and presentation are sent both electronically and as "hard" copy to the client firm.

Since its inception, international residencies have been conducted in Argentina, Brazil, China, Cuba, Czech Republic, France, Hungary, and Mexico. Over 85 International consultancy projects have been completed.

Students enroll in MBA 570 after completing approximately half of their MBA core courses. MBA 506 Economics for Managers, MBA 510 Financial Management, and MBA 520 Marketing Management are prerequisites. It is a three-semester-hour course.