BusinessTN

The Nashville area winery, Arrington Vineyards, has seen a great deal of growth in popularity since its August 2007 grand opening by founder and country music star Kix Brooks. But the winery's growth has meant new challenges for its management team. One example? Christel Foley, the business manager of Arrington, has had to decide how best to utilize the winery's limited accommodations in a manner that balances the demands of regular visitors with a desire by the winery to position itself as a competitive venue for the hosting of events, be they weddings or private parties.

Faced with such challenges, Foley jumped when offered the opportunity last November to participate in the Accelerator Summer Business Institute (ASBI). Run by the Vanderbilt Owen School of Management, the month-long, intensive program, which began in 2004, distinguishes itself from the run-of-the-mill internship programs by marketing itself as a "business boot camp," according to program director Michael Burcham.

For Foley, the Institute meant an opportunity to hear solutions to a real problem faced by the company. Brooks and the Arrington executives used the program to team up with undergraduates and recent graduates on developing an expansion plan for the winery, including new entertainment venues.

From May 29-June 26, a select 80 students from 25 universities and four countries worked as consultants, developing solutions for real-life business dilemmas with eight large companies and local startups, Arrington Vineyards among them. "Students worked almost 400 hours in a month, for about 13-14 hours per day, seven days a week," Burcham says. "They literally didn’t stop."

The winery participated from June 3-9. Students in the program formed teams and tackled Arrington's expansion challenge under the oversight of company executives, Vanderbilt Owen faculty and current MBA students, as well as of a commissioned architect. At week's end, each team presented a plan of attack for the company's expansion dilemma.

For the students working on the Arrington Vineyards project, it meant gaining -- in one fast-paced week -- hands-on experience in finance and operations. Burcham says they also "learned a lot about real estate development."

For participant Ryan Stutler, a senior at Transylvania University in Kentucky, the time spent at the Institute was "an experience that you couldn't get anywhere else. You get the 'grab it and go' classroom experience, and then you get to work with Fortune 500 companies like Coca-Cola, Sony and Cisco."

Though the ASBI may represent a unique learning experience for its students, for businesses of Fortune 500 clout, as well as for those of more modest means and dimensions (such as Arrington Vineyards), it means getting information one would normally have to pay a pretty penny to a consulting firm to come by, at a price that can't be beat.

"The companies walk away with an enormous volume of research and ideas virtually for free," Burcham says.

Professional consulting firms may scoff at the level of experience behind the work of the ASBI's student, but it's hard to argue with the value proposition. Businesses are waiting as long as six months to two years to join the prestigious program. (The 2010 roster is fully booked.) And though far from the lands of the Fabled 500, Arrington Vineyards may come away from its time with the ASBI with the seeds it needs to grow.