Opening Residency

Opening Residency is a pivotal, case-based introductory experience for students enrolled in The Richmond MBA. Satisfactory completion of the residency is a prerequisite for enrollment in subsequent graduate courses. Throughout the program, students will gain foundational knowledge across various business disciplines integral to the MBA curriculum.

During the residency, students are immersed in a learning experience where they collaborate in teams to tackle a "live" case study based on a local company facing current business challenges. This unique approach requires students to apply newly acquired knowledge and skills to navigate complex, ambiguous scenarios where definitive solutions are elusive, and information is often incomplete.

The residency takes place over two weekends in August. During the time between the two weekends, student teams conduct outside research on the business issue, collect data, and begin their analysis. The residency concludes with a case competition judged by representatives of the company and the faculty.

Key Objectives of Opening Residency include:

• Providing practical, actionable knowledge: Each faculty presentation delves into core concepts of business disciplines, offering students an introduction to the MBA curriculum.
• Introducing students to program content and faculty: By presenting a holistic view, students gain a deeper understanding of how individual course materials integrate within the broader MBA framework.
• Establishing academic excellence and rigor: Emphasizing high standards from the outset, the residency sets clear expectations for committed academic performance throughout the MBA program.
• Fostering a supportive community: Recognizing the demanding nature of the MBA journey, the residency promotes camaraderie among students, encouraging mutual support and collaboration.

Case. The residency is centered around a live case - a current, unresolved business problem a local firm faces. Students must identify the key strategic issues, apply their new knowledge and skills to the problem, and prepare a professional quality presentation of their analysis and recommendations. Each residency team is assigned an alumni advisor to help ensure their ideas are well-grounded and realistic. Faculty members and company executives judge the case competition which concludes the residency.

Grading Policy. The residency carries two hours of course credit and is graded on a Pass/Fail basis.