OBU business students recently reached a milestone for charitable giving. The University’s introduction to business classes
Student teams are loaned up to $500 per team to launch a business. The students then perform market research to choose a product to sell. Next, they source the product, price it and market it. At the end of the project, they close the business down, repay the loan and donate half of the profits to a charity of their choice. The other half is donated to the College of Business student scholarship fund. To date, 65 charities – including 19 in Shawnee – have received donations from the students. Additionally, 25 OBU business students have received scholarships from funds generated by the projects.
The business project was launched in fall 2006 with donations from three donors. These original investors include Joseph Atkinson of North Star Companies, LLC, in Midwest City; Shelley Sanders, CFA, of Wells Fargo Advisors, LLC, in Oklahoma City; and
Originally, the teams were only loaned up to $200 each. At that time, half of the profits went to charities and the other half went back into the fund. The fund has grown to the point where each team can now receive a loan of up to $500. Beginning in 2013, half of the profits began being awarded as scholarships to OBU business students instead of going into growing the fund.
The winning team from this semester sold t-shirts and earned $713.36 in profit. Student team members included Connor Gantz, Brian Frable, Rosa Escalante, Luke Campbell and Jarrin Bartolome.
Rudebock uses this project to teach his students about running a business as well as the risks and rewards of entrepreneurship.
“This project is an excellent way for the students to learn first-hand what it is like to launch and run a small business while also
“I don’t know of another business program where freshmen business majors get to apply their business knowledge so quickly,” he said. “The students, under