Fox Students work on client projects as part of a highly experiential curriculum provided by the Temple University Management Consulting Program. Through TUMCP corporate partners, there is an endless supply of projects that the students can work on throughout a semester, to solve businesses challenges or opportunities.
During the Spring 2021 semester, students in the Engagement Management – Projects & People class, led by Araceli Guenther, were provided with the opportunity to engage with Lima Consulting Group (LCG). The students received a Request for Proposal issued by LCG the first day of class. LCG provided the students the opportunity to work on their productization of services initiative to develop a market strategy for the design of the product tool for their Fiscal Sponsor Package.
The students conducted extensive research and determined that the market opportunity for Lima Consulting Group to launch an initiative for Productization of Services for their Fiscal Sponsor Package was indeed very timely, since LCG has now perfected and fully tested many of their internal services and processes. Accordingly, perfecting and fully testing an internal service and process is part of packaging a product and making it marketable for sale to the public.
While the students realized they faced a complex project, they took the challenge with guidance provided by two Project Advisors from one of TUMCP’s corporate partners, PwC. Working together with Executives from LCG and the Project Advisors from PwC, the students were off to seek and gain knowledge on the task to be completed in seven weeks! The class was divided in two work streams, Marketing and Product Development.
At the end of the seven weeks, the students successfully completed the project. Lima Consulting Group received a solid Research Report and Presentation that provided strategic options that could be utilized by the LCG Executives to further develop the product tool.