From classroom to boardroom: How Deakin Business School’s unofficial capstone is shaping future leaders

First published by Deakin University

By Pete Williams [Professor-of-Practice]

In the swiftly evolving landscape of business education, where the gap between academic theory and practical application increasingly calls for bridging, Deakin Business School’s Business Development Clinic (BDC) emerges as a innovative (pioneering) solution. This initiative serves not merely as a work-integrated learning program but as an “Unofficial Capstone” experience, meticulously designed to prepare students for the multifaceted challenges of the business world by applying their cumulative learning in real-world contexts. 

The Need for a New Educational Paradigm 

Today’s business environment, characterised by rapid change and complex challenges, demands a new breed of graduates. These individuals must not only possess a comprehensive understanding of various business disciplines but also the ability to apply this knowledge practically, innovatively and in an inter-connected way. Recognising this imperative, Deakin Business School is reimagining business education through the lens of the BDC, a program that epitomises the essence of integrated learning. 

The Business Development Clinic: An Unofficial Capstone Experience 

At its core, the BDC transcends traditional educational models by requiring undergraduate and/or postgraduate students to draw from their entire spectrum of studies to consult on real business projects.  

Professor-of-Practice Pete Williams cheekily refers to this as an “unofficial capstone”, as the programs style and approach ensures that before stepping into the professional world, students experience firsthand the application of their learning, from finance and marketing to operations and management, in addressing genuine business needs.

 Two of the over 420 students who have participated so far said:

MITCHELL HOBBS: “I went to a bunch of interviews before securing my job at Bell Potter securities. In basically all of them I was asked to tell a story of a time I demonstrated leadership or problem solving. I always told the story of how my group – in the Business development clinic – had to make a last-minute decision to alter our plan from SEO to Google ads. Interviewers loved this because I highlighted how we made a tough decision that ultimately led to a better result.”

BEKII BIALOCKI: “Within a few weeks of completing the program the client we had for the project reached out via LinkedIn and wanted to interview me for a position at their company. Although after the 2-hour interview with (them), I decided it wasn’t the right fit for me at the time. A few months later I found myself in an interview for my dream job for a role at a marketing agency that specialise in charity fundraising. The way I described my client experience and project recommendations in my job interview (insights which came from our final reflective assignment) really impressed them and gave them the confidence to not only hire me on the spot but also add me to the teams working with major Australian charity organisations and their biggest projects. The program gave me the client management experience, strategic awareness and confidence in professional settings that no other Uni subject did or could.”

Crossing Disciplinary Boundaries for Comprehensive Learning 

The interdisciplinary nature of the BDC program underscores its value as an educational cornerstone. By engaging with real businesses facing diverse challenges, students are compelled to synthesise knowledge from seemingly disparate subjects. This not only enhances their problem-solving skills but also fosters a holistic understanding of how businesses operate and thrive. 

The 7 Levers Framework: A Tool for Integrated Learning and Strategic Growth 

Central to the BDC’s methodology is the 7 Levers Framework, a comprehensive tool for business assessment and strategic development. 

 The framework focuses on seven key areas: Suspects (lead generation), Prospects (lead engagement), Conversions (sales tactics), Average Item Price (pricing strategy), Average Items Per Sale (upselling + cros-selling), Transactions Per Customer (client loyalty), and Margins (cost management).

By targeting a 10% improvement in each area, businesses can see exponential growth in profitability. 

For students, the 7 Levers Framework acts as a bridge connecting theory with practice. Each lever correlates with different aspects of the business curriculum, requiring students to apply their knowledge in marketing, finance, operations, and beyond:

This integrated application not only helps businesses identify potential growth strategies but also allows students to see the tangible impact of their education and past curriculum.

Beyond the Classroom: Preparing Graduates for the Real World 

The culmination of the BDC experience is more than academic credit; it’s the transformation of students into confident, capable professionals. Through the program, students develop not just a deeper understanding of business concepts but also critical soft skills such as strategic thinking, teamwork, and communication. These skills are essential for navigating the complexities of today’s business landscape and underline the BDC’s role in making graduates career-ready. 

Shaping the Next Generation of Business Leaders 

As Deakin Business School’s “unofficial capstone,” the BDC represents the pinnacle of business education integration. By blending academic rigor with real-world application, the program not only prepares students for immediate employment but also equips them with the lifelong skills needed to adapt and excel in an ever-changing business environment. In doing so, the BDC is not just redefining education; it’s shaping the future of business leadership.