One of the powerful modes of instruction is experiential learning, where a student directly experiences the subject matter they are learning about, giving them valuable first-hand knowledge and the ability to absorb more information through exploration and discovery. For many young people, the world of corporate business feels like an extremely distant and foreign realm, and this unfamiliarity can be intimidating when the time comes for them to join this world after finishing school.
This is where Youth About Business (YAB) comes in. Founded by Sam Kirk in 1992 as a way to introduce high school students from underserved communities to business, YAB provides one of the innovative leadership training programs to help expose young people to various strands of business and industry. Its Summer Business Program, introduced in 1999, includes the Summer Business Camp, where teams participate in a merger and acquisition (M&A) competition. Each team is advised by industry professionals – including accountants, attorneys, investment bankers, marketing specialists, and technology professionals – who will help students understand complex business transactions.
Enabling Access to High-Tier Mentorship
The Summer Business Program has even included a visit to the floor of the New York Stock Exchange, and students also learn to use one of the exceptional business analytical tools in the world, the Bloomberg Terminal. Every year, the high-performing YAB students are invited to New York City to be advised by industry executives to prepare for their final presentation, defending the simulated M&A transaction. Following this, students defend their shareholder value in their simulated cases at Sony’s Corporate Headquarters on Madison Avenue. Senior executives from across the city are selected to judge the final competition.
“Since 2011, we’ve been partners with Youth About Business to provide students with unique learning opportunities, including hosting their annual Summer Business Camp competition and accepting interns across the various Sony companies,” says Karen Kelso, VP of Corporate Social Responsibility and Social Impact at Sony Corporation of America. “This allows us to meet with students and mentor them, providing them with a way to experience what it’s like to work with a group as large and as diverse as Sony. We believe that having YAB’s students is a two-way learning experience. The more exposure and mentoring they get from senior-level executives who conversely learn from them, the better it is for us in terms of our workplace diversity and retention.”
Another industry partner that has been working with YAB for almost 20 years is the international law firm Alston & Bird LLP. Annually, the firm participates in Summer Business camps for YAB students, introducing them to the legal profession and giving them experience in the inside workings of a large law firm.
“We go through the life cycle of an M&A transaction with YAB’s students, and they work with our various attorneys, accountants, consultants, and executives,” says Robyn Downing, senior associate at Alston & Bird and member of YAB’s local advisory board. “The students are light years ahead of everyone else because they’re very eager to learn. When we hold sessions, they are always engaged and ask questions. After the camps, they write us thank-you cards. YAB is a wonderful organization and they provide a great program that I wish I had when I was growing up.”
Providing Underserved Youth With a Path to Success
While it is open to all students, YAB was founded to create a pipeline to success for students from underserved and diverse backgrounds, helping them escape the cycle of hopelessness plaguing communities across America. Kecia Howson, Managing Director of Truist Securities’ Leveraged Finance Loan Sales Group and member of YAB’s local advisory board has been involved with YAB for more than 10 years, beginning as a volunteer. Howson says that YAB’s programs have a huge impact on students from underserved backgrounds, providing opportunities that have historically been out of reach for them.
“The first time that I judged one of YAB’s competitions here in Atlanta, I met some of the students’ parents,” Howson says. “Being a Black woman, the parents thanked me, saying that it was rare for them to see senior industry people who look like their kids and were willing to give their time and energy to mentor these kids and help them figure out life and navigate the challenges they face. That moved me incredibly and inspired me to continue being involved with YAB for over a decade.”
Helping Companies Bring In Young Talent
Youth About Business’s strong partnerships benefit not just students but also industry partners, as it gives exposure to careers the students normally wouldn’t be aware of or consider joining. One such industry is insurance and risk management, which is experiencing an aging workforce and a shortage of incoming young talent. EPIC Insurance Brokers & Consultants has been working with YAB for almost four years, having hosted a total of 47 interns to date, training them, and introducing the insurance industry as a possible career destination.
“With climate change altering the natural catastrophe landscape, it is a dynamic time for the insurance and risk management industry,” says Kevin Grady, Chief Diversity Officer and Managing Principal at EPIC. “We participate in building the curriculum for YAB’s camps and our senior leadership, including our founder and our CEO, holds fireside chats with the students. Having an opportunity to introduce the industry to young people via YAB is extremely gratifying, especially with the quality training their students get, which brings a competitive advantage to our organization.”
According to Samuel Kirk, YAB Founder, and Executive Director, their year-end surveys reveal that the experience students appreciate the most is the time spent with executives and volunteers. These experiences allow students to gain a wealth of knowledge and valuable real-world experience that serve them well throughout their careers.
“I left my corporate career to found YAB because I wanted to figure out a way to help the next generation join the world of business,” Kirk says. “There are so many underserved young people that don’t have the exposure and opportunities others have, greatly limiting their choices. YAB is extremely grateful to our industry partners, mentors, and volunteers who have provided their time, effort, and resources, changing many young people’s lives throughout the years. We will continue developing and strengthening these relationships to provide the ideal future for our youth.”
Published By: Aize Perez
