The capstone experience is a unique part of the undergraduate business degree. As such it can have a farther reaching approach that any other course in the degree program. The capstone experience provides students the opportunity to synthesize the core business concepts of the degree program. Students should be able to connect the various aspects of business into a cohesive model of understanding. As an academic initiative the capstone course bridges the gap between academia and industry. The positive results from this experience will strengthen the relationship between academia and industry helping to establish a stronger relationship and build trust.
There are looming changes on the horizon which will impact the global economy potentially slowing down globalization and change the direction of future growth. There will be uncharted territory facing the global business environment. There is a concern that future business relationships will no longer follow traditional paths, and that the new paths contains uncertainty. Some of the proposed changes include new perspectives on international trade, a rejuvenation of job creation in the manufacturing sector, and new rules and approaches to foreign direct investment. These changes will have short-, medium-, and long-term impacts on the triple bottom line – people, profit and planet. The gut reaction is to assume therefore that existing mistrust between business and institutions of higher education will continue to grow. One way to change this is by rethinking and reframing the capstone experience. A reframed capstone experience brings about positive change on the people aspect of the triple bottom line restoring and strengthening the relationship between industry and academia.