Study Hall

Written by Aaron Kremer

Thursday, 10 April 2008 12:41

Virginia Commonwealth University’s new business school facility doesn’t feel very VCU-ish.

For one, there's no white cinder block walls or no grimy bathrooms. One administrator even says the students are dressing better – less sweat pants, more khaki.

And that’s saying nothing about the flat screens. My gosh, they’re around every corner. The $85 million building even has an equities trading room where students can pretend to trade stocks (can they simulate insider trading?).

“This is like a fortune 100 headquarters,” says Rich Chvala, director of the school’s Center for Corporate Education, which tailors educational programs for area companies and is developing a new Small Business Initiative for launch some time in 2009.

VCUs biz school improvements aren’t only tailored to fortune 100 companies, however. A growing MBA program and a new career center are just a couple of new offerings that can help area small businesses find and train employees. There’s even a bimonthly family business program hosted at the school that addresses common problems faced by family-owned businesses.

Let’s be clear here. VCU’s business school is not new, nor is it the only one in town. The University of Richmond has a nationally-recognized graduate business program, and there is a retail-oriented MBA at Longwood (not to mention additional offerings from for-profit schools like Averett).

But VCU’s impressive new building might put the university back on the radar for small business owners seeking an edge.

So how can small businesses take advantage of the new facility?

Step one is to peruse the website, which got a much-needed makeover this week and includes a dedicated page for Richmond’s businesses. But the offerings can be confusing, so BizSense has produced the first ever VCU Business School Cliff Notes.

For those not seeking another degree, keep your eyes peeled for the Small Business Initiative, which, when it opens in 2009, will offer group leadership and practical training for small businesses. Rather than tailoring curricula specifically to one business (something that would be too expensive for even the most ambitious small business owners to afford), the Small Business Initiative will offer a program that suits a communal need.

The training will generally combine leadership skills with practical knowledge, such as marketing and accounting. To keep competitors from sharing the same classroom, the program will not offer open enrollment, says Chvala, who’s spearheading the effort.

“We are going to help small business compete better,” he says..

Big businesses won’t have access to the Small Business initiative, but they already have the Center for Corporate Education. According to Chvala, 17 area (mostly larger) companies use the Center for training seminars that cost around 50% less than hiring private consultants. The Center also runs certification programs for individuals in various disciplines, including human resources and financial planning.

Outside of consultancy and training, companies can hire university faculty for research purposes. They can also try to become a case-study for both undergraduate and graduate classes. There’s generally a fee for doing so at the graduate level.

The new building also features a dedicated career services office, which can help area businesses find interns or employees. So far, few small businesses are looking at resumes from VCU business students, says Director Mike Eisenman, but that may be because the Career Center only recently began operating as a separate entity.

The new career center maintains a computerized system of students and their resumes, which Eisenman and his staff can vet for businesses by category. For example, if a business is looking to hire an entry-level accountant with a 3.0 gpa, Eisenman’s staff will pass along only those individuals that fit the criteria. “If you want someone that’s willing to work in Danville, we can screen for that,” Eisenman added.

The Center also arranges on-campus interviews, granting business owners access to multiple candidates in only one trip to the building.

Finally, there’s the The Virginia Family & Private Business Forum designed for Mom & Pop & Son operations. The Forum puts on six events a year, all of which focus on the challenges of working with kin. It costs $1,500 per business per year to join, but anyone can sample a session or two.

The next event, entitled "Successful Family Business Strategies: Case Studies," will be offered April 30^th at Innsbrook. Future events will be held in the new building downtown.

If none of these options fits the bill, there always the back-to-the-classroom option.

(Inspiring movies to watch before hand: “Old School” and “Back to School”)

The Fast-Track Executive MBA takes 21 months and costs $42,000. Students have an average of 14 years of work experience. Six years of work experience is mandatory. Classes are conducted at night and on the weekend. The program generally graduates around 40 students per year.

The regular MBA, meanwhile, is designed for part-time students who are also working. It takes around 2 or 3 years and costs $18,000. Several concentrations are offered.

And for students a little less keen on two or three more years of schooling, there’s a Certificate in Business Administration, which is seven classes; one each on the main subjects. Tuition for that program costs around $9,100.

Business owners always debate about the value of an MBA. Please send thoughts on the issue to This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Future stories might discuss comments but will NOT quote emailers by name.