DEPARTMENT OF ECONOMICS INTERNSHIP PROGRAM (ECON 494, AGEC 494, ACCT 494 or ENTR 494) SOUTH DAKOTA STATE UNIVERSITY EMPLOYER HANDBOOK Internship Coordinator Department of Economics Box 504 Scobey Hall Brookings, SD 57007 Phone 605-688-4141 FAX 605-688-6386 Last Revised December 1, 2009
TABLE OF CONTENTS DEFINITION OF AN INTERNSHIP... 1 WHAT IS AN INTERNSHIP POSITION?... 1 WHY HIRE AN INTERNSHIP POSITION?... 1 CREDITS AVAILABLE... 2 ENROLLMENT PROCESS... 2 INTERNSHIP PLAN... 2 BIWEEKLY PRROGRESS MEMO REQUIREMENTS... 2 FINAL PAPER REQUIREMENTS... 3 SITE SUPERVISOR EVALUATION OR STUDENT PERFORMANC... 3 CONFIDENTIALITY... 3 LEGAL LIABILITY OF INTERNSHIPS... 3 GRADING... 3 SUMMARY OF REQUIREMENTS AND RESPONSIBILITIES... 4 Internship Requirements... 4 Student Responsibilities... 4 Employer Requirements... 4 INTERNSHIP PLAN EXAMPLE... 5 EMPLOYER APPLICATION FORM for an Economics Internship... 7 SITE SUPERVISOR EVALUATION OF STUDENT PERFORMANCE... 9
DEFINITION OF AN INTERNSHIP An internship is a mutually beneficial, academic, on-the-job experience for a student and an employer. An internship is "mutually beneficial" because the student gains "real world" practical knowledge to supplement his/her education, while the employer gains a motivated worker who is able to apply the theories, practices, and strategies acquired from previous course work. Other benefits to an employer include: an increase in additional human resources for peak times and vacations; an opportunity to evaluate potential future employees on the job; and an increased exposure to potential employees through word-of-mouth advertising and a visible presence on campus. An internship is an "academic" experience because of the intellectual activities associated with the internship. These activities include, but are not limited to, exposing the intern to the on-the-job decision-making process, having the intern perform research to enhance decision-making, training the intern to become part of the decision-making process, or some combination thereof. For example, working on an assembly line may be a summer job, while an internship would be working on the assembly line and assisting the manager in researching new approaches to scheduling the work, or, working at a fast food restaurant may be a summer job, while an internship may be working at a fast food restaurant with the gradual addition of managerial duties. Ideally, the employer and the intern will custom design the "intellectual activity" to maximize the "mutual benefit." WHAT IS AN INTERNSHIP POSITION? A wide variety of positions may be considered an internship position. The deciding factor from the Internship Coordinator's point of view is the existence of an "academic" element (see the DEFINITION OF AN INTERNSHIP section). This element separates an internship from the typical "summer job." This most frequently takes the form of an exposure to managerial/economic decisionmaking, conducting or assisting in research needed by the organization, completing a management related project(s), or completing training related to an entry-level position. Management and/or sales training programs and part-time/summer positions augmented with research make excellent internships. Some of the most productive internships arise from a manager's wish list of what he or she would do (or research) if he or she "had the time". Past examples of this type include conducting marketing surveys, conducting research into employee safety programs, conducting job scheduling studies in a manufacturing process, evaluating the best method to process customer payments, evaluating the best method to contact overdue customers, developing training manuals, and, determining the most effective mix of advertising. WHY HIRE AN INTERN? The following is a listing of the benefits of hiring interns. The employer will gain a motivated employee to provide additional human resources for peak times and to cover the vacation schedules of full-time employees. The employer will gain an educated employee with access to university resources to complete research and special projects that have been on the back burner that may not otherwise get done. The employer gains an opportunity to evaluate a potential future employee on the job. In effect, creating an extensive interviewing period..if successful, an internship creates a trained employee available for full-time employment after graduation. The internship program can increase the visibility and positive word-of mouth of the firm on campus, thus increasing the pool of potential employees An on-going internship program can provide for easy transitions from experienced interns to novice ones. These transitions provide the opportunity for the experienced interns to acquaint the new interns as to the functions of the company. Challenging internship opportunities attract academically strong students. An internship program is a major contribution to the education of a college student, and all businesses benefit from better educated employees. 1
CREDITS AVAILABLE One to three credits are available per semester. An internship may be repeated for a maximum of six credits. To be eligible for three credits, an intern must be employed a minimum of 320 hours. Special arrangements with the internship coordinator may be made to take six credits in the spring or fall semester. This only involves students who are concerned with maintaining their student eligibility for university benefits such as financial aid and student health. A student may qualify if the internship is during the spring-summer or summer-fall semesters, and the internship requirements are such that the student is unable to take additional courses. These credits can be earned while attending college, during the summer, in a series of summers or semesters, or while taking a semester off. ENROLLMENT PROCESS A packet of forms should be available from the same website as this handbook, if not, contact Penny Stover, Department of Economics, at 605-688-4855. The STUDENT APPLICATION FORM for a SDSU Economics Internship includes general student information and a basic understanding of the goals and objectives of the internship. This form must be completed and approved by the Internship Coordinator prior to registration because the student must receive written permission from the Internship Coordinator in order to register. The student must be enrolled in ECON 494, AGEC 494, ACCT 494 or ENTR 494 while performing the internship. In all other respects, the enrollment process is the same as any other course. The EMPLOYER FORM for a SDSU Economics Internship must be completed and returned to the Internship Coordinator within two weeks of the start of the internship. The student is responsible to have this form completed and returned to the Internship Coordinator with the "Internship Plan." INTERNSHIP PLAN The "Internship Plan" is prepared by the Site Supervisor (with the intern, if possible) as part of the EMPLOYER FORM. This is the "heart and soul" of the internship experience. Employers familiar with "management by objective" will recognize this process. The Internship Plan outlines: 1. the objectives of the internship; 2. the steps required to complete each objective; 3. the schedule or timing of each required step; and 4. the party or parties responsible for completing each step. Refer to page 5 for an example internship plan for the fictitious First State Bank. Other formats may be used at the discretion of the Site Supervisor. BIWEEKLY PROGRESS MEMOS The biweekly progress memos are the intern's evaluation of progress regarding the "internship plan." These memos are to be prepared by the intern every two weeks, and addressed to the Internship Coordinator and the Site Supervisor (The student handbook shows an example of a progress memo). These memos are an analysis of progress during the last two weeks. Any miscellaneous or personally sensitive correspondence between the student and internship coordinator should be included in a separate note or via a phone call to the internship coordinator (see CONFIDENTIALITY section). These memos have four main purposes. The first is that they provide a vehicle to strengthen the Intern's written communication skills (one of the key skills requested by company recruiters is good communication skills). The second is to provide feedback to the Internship Coordinator and the Site Supervisor. The third purpose is to make sure the intern is analyzing her or his progress on a periodic basis. Finally, the memo is to provide a future reference for the Intern when writing the final paper. These memos must address how the tasks completed in the previous two weeks contributed to (or hindered) the completion of objectives contained in the internship plan; the plans for the next two weeks; and any personal regarding personal goals as well as personal aspects that the intern needs to improve, change, or eliminate in order to improve progress in the future. 2
FINAL PAPER REQUIREMENTS The final paper is prepared by the Intern and is a critical analysis of the internship (the Site Supervisor should tell the Intern if he or she wishes a copy of this paper). The introduction should state the purpose of the paper, give an overview of the findings of the paper, and describe how the paper was prepared and organized. The body is separated into four sections: a description of the internship, the analysis of the internship goals and objectives, a summary of internship strengths and weaknesses, and an analysis of personal goals and objectives. The conclusion summarizes and evaluates the internship from the Intern's perspective. It includes conclusions regarding the quality of the experience and how it can be improved. SITE SUPERVISOR EVALUATION OF STUDENT PERFORMANCE The Site Supervisor is the best judge of how well the Intern handled responsibilities and developed professionally during the course of the business employment. Regular communication between the Site Supervisor and the Intern (in addition to the biweekly memos) regarding the internship objectives is encouraged in order to make the evaluation process easier and more accurate. At the end of the internship period the Site Supervisor will be required to complete the evaluation form. Although it is not mandatory, it is desirable for the Site Supervisor to have an exit interview with the Intern to review the evaluation and the internship experience as a whole. CONFIDENTIALITY Without consent, federal law prohibits any publication or communication beyond the student, the employer and the university regarding information specific to the internship. The supervisory evaluation will be available to the student. Information to be held confidential between the student and the Internship Coordinator or between the employer and the Intern Coordinator must be appropriately designated; otherwise, it will be assumed that information can be freely exchanged between the student, Internship Coordinator, and the employer. LEGAL LIABILITY OF INTERNSHIPS The interns assume any liability for their actions and potential risks to themselves by accepting placement at an internship site. SDSU does not assume any liability for any injury or damages sustained by the student. Further, there is no coverage by the university's insurance policies for any damages sustained by the internship site as a result of the intern's conduct. GRADING The letter grade will be assigned by the Internship Coordinator. This is based upon the memos, the final paper, and the Supervisor's evaluation. In addition, the Site Supervisor may be contacted further for input regarding the student's performance and for recommendations regarding the overall improvement of the internship process. 3
SUMMARY OF REQUIREMENTS AND RESPONSIBILITIES Internship Requirements The internship experience must be applicable to the Economics, Business, Agricultural Business, Agricultural Economics or Entrepreneurial fields of study. The experience must be a professionally conducted internship. There must be an academic, intellectual activity associated with the internship. Student Responsibilities The Intern must complete the STUDENT APPLICATION FORM for a SDSU Economics Internship and have it approved prior to enrolling in Econ 494, AGEC 494, ACCT 494, or ENTR 494. The Intern must present the employer with the EMPLOYER FORM for a SDSU Economics Internship to be completed and returned to the Internship Coordinator within the first two weeks of the internship. It is important that the student retains a copy of this form and uses it as a reference in completing the biweekly memos and the final paper. The Intern must be enrolled in ECON 494, AGEC 494, ACCT 494, or ENTR 494 Internship while performing the internship. The Intern must submit biweekly progress memos to the Internship Coordinator every two weeks (by mail or fax). The Intern must submit a final paper at the conclusion of the internship experience. The Intern must be willing to work hard and complete the duties, goals and objectives established at the beginning of the internship. The Intern must conduct him or herself in a professional manner and must act ethically and responsibly in accordance with the standard set forth by the employer. Employer Responsibilities The Employer must make the student aware of any potential risks inherent to working at the internship sites. The Site Supervisor must establish an INTERNSHIP PLAN as part of the EMPLOYE FORM for a SDSU Economics Internship. This must be completed and returned to the Internship Coordinator no later than two weeks following the start of the internship period. The Site Supervisor is required to complete the SITE SUPERVISOR EVALUATION OF STUDENT PERFORMANCE. The Site Supervisor is encouraged to review this with the student as part of the exit interview/evaluation. The Intern must be provided with employment during the internship period as long as the employment criterion is being met. The Intern must be provided with the opportunity to become an integral part of the daily activities of the company. The Site Supervisor must notify the Internship Coordinator if the student s performance presents any problems in the completion of the internship plan and/or the effectiveness of the firm s goals and objectives. The Site Supervisor must be willing to guide and assist the intern in the successful completion of the internship plan. The review of the biweekly progress memos is an encouraged part of this process. The employer must make the Intern aware of the professional and ethical standards regarding their position in the company. 4
INTERNSHIP PLAN EXAMPLE The following is an example of an internship plan. Unforeseen events and opportunities may arise which may result in a modification of one or more of these objectives as well as adding others. The Intern realizes that the Site Supervisor will be completing an evaluation at the end of the internship period regarding the Intern s general job performance and the accomplishment of the goals and objectives of the internship. FIRST STATE BANK AGRICULTURAL LOAN OFFICER INTERNSHIP PLAN Intern: Kelly D. Intern Site Supervisor: Chris DeBoss, SR. Agricultural Loan Officer Internship Period: May 15, 2000X to August 30, 2000X INTERNSHIP OBJECTIVES: 1. Learn about the major bank management implications regarding banking in a rural community a. The Site Supervisor will provide the Intern an initial packet of information regarding First State Bank, its mission, its financial statements, and its strategic plan. The student is responsible for reading and understanding this material. This should be completed during the first week of the internship period. b. Overall, this will be an on-going objective. The Intern is responsible for asking questions and the Site Supervisor is responsible with providing the information or a means for the student to find the appropriate answers to her (his) questions. 2. Become familiar with and involved in the Lake Woebegone community. a. In the initial packet or information provided by the Site Supervisor there will be community information that the Intern will also be responsible for reading and comprehending. b. The student will accompany a bank employee to at least four community related events during the internship. The Site Supervisor is responsible for arranging the events with the Intern and other bank personnel. c. Overall, the Intern is responsible to be proactive and take the initiative in learning about the community and meeting its members. 3. Work in the various functional areas within the bank and learn how each area contributes to the bank as a whole. a. General Schedule i. First three weeks in teller operations with some continuing responsibilities throughout the internship period ii. Fourth week in Bookkeeping III. Fifth week in Insurance iv. Remainder of internship will be in various areas for short periods of time. These will be assigned by the Site Supervisor as the internship progresses and as time allows. b. The Intern will start with training in teller line operations. The Site Supervisor is responsible for arranging this with the Head Teller. This training will be completed the first week of the internship. During the remainder of the internship, the Intern will be responsible for assisting in the teller line during peak hours, during lunch breaks or at other times as indicated by the Head Teller and approved by the Site Supervisor. c. During the fourth week of the internship, the Intern will work in the Bookkeeping Department at least a couple of hours a day. The Intern will learn about such functions as profit operations, posting sorting, and filing. The Site Supervisor is responsible for arranging these times with the Bookkeeping personnel. d. The fifth week of the internship, the Intern will work in the insurance areas for a couple hours of the day to observe this function. The Intern will learn about the services offered and how 5
to cross-sell these services while working in the teller line. The Site Supervisor is responsible for arranging times with the Insurance department. e. The remainder of the internship may include various departments as assigned by the Site Supervisor. These will probably involve only a few days in each area and may include, but are not limited to, the Trust Department, Consumer/Retail Lending and Real Estate Lending. 4. Become familiar with the loan application process, including collateral inspection, credit underwriting, the loan presentation/approval process, and credit review. a. The Intern will be responsible for reviewing the loan procedure and policy manuals provided by the Site Supervisor. The review of this material should be accomplished by the fourth week of the internship. b. The Intern will observe and assist in at least one complete agricultural loan application from the initial interview to ultimately booking or declining the loan. c. The Site Supervisor is responsible for coordinating this and the Intern is responsible for completing any associated duties as assigned in a prudent, timely and conscientious manner. d. The Intern is also responsible for respecting and preserving the confidentiality of any and all bank customers. 5. Work closely with the Sr. Agricultural Loan officer (Site Supervisor) and become familiar with the duties related to the position. a. This is an overall objective that will encompass the entire internship. The Site Supervisor is responsible for including the Intern in the performance of general duties related to the Agricultural Lending position. This will encompass a very wide scope and will be organized as the internship progresses. The Intern is responsible for taking a proactive approach by asking questions and assisting whenever possible. The Intern is responsible for the completion of any duties or assignments related to this objective in a prudent, timely and conscientious manner. b. The Intern is expected to maintain a demeanor in keeping with the professional conduct of an officer of First State Bank. 6
EMPLOYER FORM for an Economics Scholarship INTERN S NAME: INSTRUCTIONS: 1) The above student has applied for an internship through the SDSU Department of Economics. The internship has been approved, and the student has registered for credit in ECON 494, AGEC 494, ACCT 494, or ENTR 494. 2) Please complete this form and attach the internship plan (see Site Supervisor Handbook) and return it to the: Internship Coordinator, Dept. of Economics, Box 504, South Dakota State University, Brookings, SD 57007. 3) Retain two copies of this form, one for your records and one for the intern. 4) Please return this form within the first two weeks of the onset of the internship. =================================================================================== Name of the Employer: Name and Title of Site Supervisor: Mailing Address of the Employer Site Supervisor s Address (if different): E-mail: Phone: Fax: E-mail: Phone: Fax: Starting Date of Internship: Ending Date: Is this a paid internship? If so, how much? Title of Internship position, if any: Please give the general Job Description of the Internship Position and the primary duties of the intern: Please attach the internship plan (please refer to the Site Supervisor Handbook for preparation). This plan should identify: (1) the goals (objectives) to be achieved during the internship period, (2) the major steps required to attain these goals, (3) the party(ies) responsible for implementing each step, and (4) the schedule or timing of each required step. The Employer agrees to Internship Requirements and Employer Responsibilities as stated in the Site Supervisor s Handbook and reproduced on the back of this form. The Employer also understands that the intern assumes any liability for his or her actions and potential risks to him or herself by accepting this position, that SDSU does not assume liability for any injury or damages sustained by the student, and that there is no coverage by the university s insurance policies for any damages sustained by the internship site as a result of the intern s conduct. Employer Signature Date 7
Thank you for your cooperation. Your assistance with this internship is greatly appreciated. If you have any questions, comments, or concerns regarding the internship, the intern, and/or the internship program, please contact the Internship Coordinator (Phone: 605-688-4141 or Fax 605-688-6386). SUMMARY OF RESPONSIBILITIES Internship Requirements The internship experience must be applicable to the Economics, Business, Agricultural Business, Agricultural Economics, or Entrepreneurial fields of study. The experience must be a professionally conducted internship. There must be an academic, intellectual activity associated with the internship. Student Responsibilities The Intern must complete the STUDENT APPLICATION FORM for an Economics Internship and have it approved prior to enrolling in ECON 494, AGEC 494, ACCT 494, or ENTR 494. The Intern must present the employer with the EMPLOYER FORM for an Economics Internship to be completed and returned to the Internship Coordinator within the first two weeks of the internship. It is important that the student retains a copy of this form and uses it as a reference in completing the biweekly memos and the final paper. The Intern must be enrolled in ECON 494, AGEC 494, ACCT 494, or ENTR 494 Internship while performing the internship. The Intern must submit biweekly progress memos to the Internship Coordinator every two weeks (by mail or fax). The Intern must submit a final paper at the conclusion of the internship experience. The Intern must be willing to work hard and complete the duties, goals and objectives established at the beginning of the internship. The Intern must conduct him or herself in a professional manner and must act ethically and responsibly in accordance with the standard set forth by the employer. Employer Responsibilities The Employer must make the student aware of any potential risks inherent to working at the internship site. The Site Supervisor must establish an INTERNSHIP PLAN as part of the EMPLOYER FORM for Economics Internship. This must be completed and returned to the Internship Coordinator no later than two weeks following the start of the internship period. The Site Supervisor is required to complete the SITE SUPERVISOR EVALUATION OF STUDENT PERFORMANCE. The Site Supervisor is encouraged to review this with the student as part of the exit interview/evaluation. The Intern must be provided with employment during the internship period as long as the employment criteria are being met. The Intern must be provided with the opportunity to become an integral part of the daily activities of the company. The Site Supervisor must notify the Internship Coordinator if the student s performance presents any problems in the completion of the internship plan and/or the effectiveness of the firm s goals and objectives. The Site Supervisor must be willing to guide and assist the intern in the successful completion of the internship plan. The review of the biweekly progress memos is an encouraged part of this process. The employer must make the Intern aware of the professional and ethical standards regarding their position in the company. 8
SITE SUPERVISOR EVALUATION OF STUDENT PERFORMANCE Name of the Student: Name of Firm: Name and Title of Site Supervisor: Mailing Address of Firm: Site Supervisor s Address (if different): E-Mail: E-Mail: Phone: Phone: Fax: Fax: ================================================================================ This evaluation is designed to evaluate the intern s on-the-job performance. Use the rating scale criteria provided to answer the quantitative questions and answer the qualitative questions on the reverse side. (attach additional sheets if necessary) Performance Rating Scale: 1. Outstanding: performance greatly exceeded expectations 2. Very Good: performance generally exceeded expectations 3. Good: performance generally met expectations 4. Poor: performance generally did NOT meet expectations 5. Very Poor: performance fell far below expectations NA Insufficient Information to evaluate CRITERIA RATING Professional Performance 1 2 3 4 5 NA 1. Was enthusiastic and positive toward job 2. Understood and followed instructions 3. Completed tasks promptly and accurately 4. Learned systems and procedures quickly and accurately 5. Responded positively to criticism or suggestions 6. Conformed to company policy: dress code; working hrs; professional; etc. 7. Was able to recognize problems 8. Effectively evaluated alternatives and made sound decisions 9. Was flexible and able to adapt 10. Was innovative and resourceful in meeting objectives 11. Showed initiative and sought additional responsibilities 12. Was able to prioritize tasks and effectively manage time 13. Followed up and monitored own performance 14. Was able to develop effective relationships with co-workers 15. Was able to develop effective relationships with customers 16. Was able to effectively communicate orally and in written form 17. Was an effective listener 18. Was patient when situations warranted 19. Was assertive when situations warranted 20. OVERALL RATING OF STUDENT S PERFORMANCE 9
Qualitative Comments. 1. Were the objectives outlined in the Internship Plan met to your satisfaction? Why or why not? 2. Considering the student s performance during the internship period, (a) describe her/his strengths regarding a career in your field, and (b) describe her/his weaknesses. 3. List ways in which the intern exhibited professional growth and development during the internship period. 4. What are your suggestions to improve the internship process? Signature of the Site Supervisor Date 10