Ristics - From Risk to Reward
Mike Planche explains how Ristics, or “Applied Business Management” provides an opportunity for final year Business Management students to apply their knowledge in the real world.
During this course, students are in charge of forging, managing and running their very own business. This is not your typical internship. In an internship, students are usually given a typical job within an organization that is purely functional and does not always give an opportunity to see the whole business. Ristics, on the other hand, is a purely entrepreneurial experience. Everything is decided by the students. The faculty provide guidance and sets boundaries, but the students are the creators and decision-makers.
During this experience, students not only decide what kind of business they will run for the 15 week period, they benefit financially from any profits as well. By the end of the course, students have integrated theory with practice, discovered how they respond to challenges and usually end up with more money in their pocket than when they started.
19 students participated in the Ristics program this year. The students launched an event management business and hosted three events throughout the semester. Students split into three distinct business lines, the Internal Sales Group, the External Sales Group and the Events Group. Overall the company (students) made a profit of just over $800.00. Several students decided to donate the value of their shares back to the company so that a donation could be made in their name to the Canadian Red Cross for disaster relief.
We are proud of our students' efforts in this unique program. The entrepreneurial skills gained during this project are transferable to any workplace giving our students an edge in any career path they may choose.
