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Fall 2021 IBE company, Minnesota Milers posing with their beanies
10 Years of the United Prairie Bank Integrated Business Experience
For a new business venture, every birthday is special—especially when you consider about half of small businesses fail within a decade. Of course, the United Prairie Bank Integrated Business Experience (IBE) isn’t exactly a small business, but program faculty member Shane Bowyer likes to look at it that way.
“Putting it in entrepreneurial terms, 10 years is a big thing for a company. It’s a big thing for a program like this as well.” Before IBE launched as a pilot program, Dean Brenda Flannery and others in the college dug deep into research about integrated learning experiences and how they benefit students. They found a thriving example at the University of Oklahoma, and even invited professor emeritus of management and expert in experiential learning, Larry Michaelsen, to campus to consult on the IBE.
and donate time and profits to charitable organizations. Not only has the IBE survived the 10-year mark, it’s thrived becoming the College of Business’ signature program. Now, with the launch of the Integrated Business Experience Certificate in the 2022-2023 academic year, students, directors and alumni have even more cause to celebrate. Join us in reviewing as we look back on highlights of the last 10 years of the United Prairie Bank Integrated Business Experience—and continue to look toward a bright future.
Since 2012, the IBE has helped students launch real companies; secure loans; develop, produce and sell products;
Turning 10 during a Pandemic The pandemic—which began impacting IBE companies in the spring of 2020—has changed the business environment for IBE students and faculty. Spring 2020 companies had to make a hard pivot to online selling. For those returning in Fall 2021, there was even more uncertainty. “Before the semester started, students were surveyed to determine how they planned on attending class—in-person or a combination,” according to the IBE annual report. “Students were put into companies according to their attendance preferences. This allowed for companies to attend in-person (if they were allowed) or be completed online.” 32 / C OLLEGE OF BUSIN ES S I N R E V I E W
Faculty also shifted approach, bringing in more guest speakers to help with online and social media selling, and lowering the requirement for in-person volunteer hours. Students knew what to expect going into this academic year, but students still reported issues because of it, including low foot traffic, lack of face-to-face communication and technology issues. Despite challenges, IBE students in the 2021/22 academic year reported gross sales of $32,711 across six companies.
