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External Partners Alumni Search Submit Return to home Search Search About About Olin Home Why Olin Equity, Diversity & Inclusion Leadership & Strategy News & Media Events Contact Us Programs Programs Home Explore Our Programs BS in Business Administration MBAs Specialized Master's Doctoral Executive Education Dual Degrees Faculty & Research Faculty & Research Home Faculty Directory Research Research Centers Olin Brookings Commission Olin Award Student Resources Student Resources Home Career Services Center for Experiential Learning Entrepreneurship Academic Calendars Student Organizations For Current Students For Military Veterans Admissions Admissions Home Scholarships & Aid Attend Program Events Visit Olin Ask a Student Student Profiles Request Information Refer a Candidate External Partners Alumni CEL team takes a closer look at family-owned business landscape August 12, 2019 By WashU Olin Business School 2 minute read Home News CEL team takes a closer look at family-owned business landscape John Weibel, MBA 2019, contributed this post on behalf of Olin’s Center for Experiential Learning. For the most part, banks look and act alike. However, First Bank is not just any bank among the many in the St. Louis, Los Angeles, and San Francisco regions. As a family-owned business with strong connections in the communities they serve, they know the unique challenges faced by family-owned businesses. Opportunity for family-owned businesses As First Bank looks ahead to the next five years, they strive to become the bank of choice for the owners, families, and employees of family-owned businesses. They had the expertise to accomplish this goal but needed to better understand their target customers and the competitive landscape for this customer segment. Thus, the client challenged the CEL team to research the market landscape for family-owned businesses and to conduct analysis on the intense banking competition in the regions they serve. The CEL team quickly discovered trends about family-owned businesses and identified key metrics for First Bank to evaluate. The team then conducted interviews with First Bank leadership. These interviews offered great opportunities for the team to refine where the project needed to go. Following the interviews, the team expanded on the market research to estimate the target market for First Bank, identified competitive advantages and disadvantages among the competition, and pinpointed opportunities for the client to exploit. As the leadership at First Bank develops their next strategic plan, they have invited the team to present our recommendations at their leadership summit. The client has also asked the team to lead a session on how to replicate and scale our solutions as they measure their success. Creating a real business solution This CEL practicum has been an excellent opportunity to apply the critical thinking, analytical, and communication skills that Olin emphasizes in the classroom to a real business situation. About the Author WashU Olin Business School Firmly established at the Gateway to the West, Olin Business School at Washington University in St. Louis stands as the gateway to something far grander in scale. The education we deliver prepares our students to thoughtfully make difficult decisions—the kind that can change the world. Contact Us For assistance in finding faculty experts, please contact Washington University Public Affairs. Monday&＃8211;Friday, 8:30 to 5 p.m. Sara Savat, Senior News Director, Business and Social [email protected] &＃160; Kurt Greenbaum,Communications [email protected] Twitter: WUSTLnews Share article Apply Now Visit Us Request Info One Brookings Drive, St. Louis, MO 63130-4899 [email protected] 314-935-7301 News & Media Events Faculty Directory WashU Center for Career Engagement Washington University home Olin Links Sitemap Privacy Policies Title IX Accessibility ©2024 Washington University in St. Louis