UCLA Wins Deloitte Consulting Award For Nigerian Export Field Research
While most business school programs require a master’s thesis, the UCLA Anderson School of Management takes a different approach. Students at Anderson do a field study as New Company Founders or Applied Management Research (AMR).
Team 10—Nigerian Export Promotions Council was selected by a panel of Deloitte consultants to receive a cash prize of $5,000.
AMR is first business school field study program in the country. The program pairs students with organizations to find a solution to global problems.
The student team took on Nigeria’s export dilemma. Nigeria relies on oil as its main export, and with the global decline in oil prices, the economy has been suffering. In light of The Nigerian Export Promotion Council’s (NEPC) goal to eventually halt oil exports from Nigeria altogether, the team created a plan to increase Nigeria’s exports of agricultural products to the U.S.
Students traveled to Nigeria in order to meet with their client, evaluate their agricultural resources and get a firsthand look at the challenges facing the economy. They discovered that Nigerians tend to hold the opinion that their exports are “perceived particularly unfavorably in the U.S. market.”
After the trip to Nigeria, the team came back to the U.S. to evaluate demand for what they deemed the most promising Nigerian exports: Cocoa, cotton, palm oil and hibiscus. Interviews with companies like Starbucks and Nestle indicated that there might be a burgeoning market for cocoa beans and their by products.
In the end, the team proposed a three-point solution, that would essentially lead to greater U.S.-Nigeria trade, particularly of cocoa beans. They recommended export programs, a Nigeria-based trade team to advocate for U.S.-Nigeria trade and a task force to promote increased production of cocoa.
