New Business Exercise: The Pop-Up Store Project

Date
2017-01-01
Authors
Kim, Soohyun
Hessell, Scott
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Abstract

In this hands-on exercise, students develop and manage a successful retail pop-up store for one week in Tucson Mall in the city of Tucson. This is the final process in a two-semester project that involves the comprehensive business planning and execution process from idea generation, business planning, merchandise planning, investor pitch, vendor selection, product development, vendor selection and execution. Students work as teams to achieve maximum revenue and profits over a full week and, most importantly, develop a genuine understanding of the challenges of developing and executing a retail concept. The learning objectives of this year-long project are 1) to help students to understand how learning by doing in an ever-changing and unpredictable environment may have substantial advantages over traditional analysis, research, and business planning; 2) to find solutions for customers' wants; 3) to execute an actual business with their own innovative products; 4) to explore the trade-offs that entrepreneurs face as they start a new business or launch a product or service; 5) to build team work, communication, and leadership skills.

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