"I developed this course in order to provide the MSc students with the opportunity to learn from strategic problems and strategic development issues facing real companies"

We first select the companies that offer the most interesting strategic problems for the students to analyse. This year for example we have 9 very different companies; from world leaders to family-run businesses and which span a wide variety of sectors. The smaller firms generally lack in-house know-how to conduct the strategic analysis themselves while the bigger companies simply haven't yet had the time to free up resources. There are generally two types of project; one deals with strategic development and the question Where do we go from here? while the other deals with an idea that has been on the boil for a while but which has not yet been given full consideration. In both these cases EDHEC provides a real service to a real company and this is what makes the Praxis Streams project so successful.

In groups of three or four students are assigned to a company to conduct a strategic consulting mission, the aim being to provide them with the opportunity to apply existing knowledge and develop new skills in dealing with practical strategic assignments. 

Each team has to apply the specific strategic-analysis models, learnt beforehand in the programme courses. This helps the students identify a particular business challenge and provide possible solutions.  Each group familiarises itself with the company's field of activities; identifies its mission, values and core competencies.  Parallel to that, the groups analyse the business environment, study competitors' activities, discern particular trends and forecast possible market changes, as required, to complete the project for their company "client". 

During the project, the students meet several times with the company directors or senior development managers and benefit from on-going mentoring from EDHEC faculty. These professors act as consultants to the consultants and provide a delicate balance of guidance and freedom of decision.

At the end of the project, the students make a summary presentation and provide the company with a consultancy report, in which they present their findings and propose the necessary course of action.

This project allows the students to apply their theoretical knowledge and gain real experience in solving a strategic management problem. This interactive approach really is a win-win situation for both the companies and the students.

The students in the MSc in Strategic Management programme have always shown great interest in this module over the years and work enthusiastically on the different projects. Their sound strategic decisions are taken very seriously by the various companies who are often impressed with the professionalism of the teams. This strategic decision can even be the catalyst in taking the company to the next stage of its development.

Everyone benefits from this project says Professor Lumbers Students gain experience while the companies receive high-class consultancy reports - not to mention the advantages to the School that these strengthened company links bring.