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International Residency

MBA 570 Global Environment of Business/International Residency is an integral component of The Richmond MBA. The course includes on-the-ground experience outside of the U.S. and it is required of all MBA students.

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, and the team works with company management on an international business issue. Clients can be based in the U.S. or in the host country. 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

  • 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.

2. International Residency and field research

  • 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.

3. Post-residency research and report preparation

  • Once students have returned to campus, 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 the final report and PowerPoint voice-over presentation electronically. The report and presentation are sent to the client firm.

Since its inception, the International Residency has been conducted in Argentina, Brazil, China, Croatia, Cuba, Czech Republic, Ecuador, France, Hungary, Italy, Latvia, and Mexico. Over 125 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.

The Richmond MBA

Robins School of Business
1 Gateway Road
University of Richmond, VA 23173
(804) 289-8553
mba@richmond.edu

International Business & Residency Coordinator
Fae Bell
(804) 287-6651

Summer 2016 MBA International Residency: Riga, Latvia
Spring 2016 MBA International Residency: Italy