MBA students are organising a pop-up market for staff, students and the public this week, as part of a challenge designed to test business skills.
The students will be selling a wide range of goods - from Halloween themed products such as ‘missing eye’ contact lenses, through to eco-friendly water bottles and power banks for charging electronic devices. The market will be held on Thursday 29 October from 10am-4pm on Imperial’s Queen's Lawn Terrace.
The event is part of the Business School’s 360 Business Challenge, which is an ‘Apprentice’ style annual challenge aimed at current MBA students. During the five-day event, students are tasked with the challenge of setting up business as market traders on Imperial’s grounds.
"The 360 Business Challenge really forces students out of their comfort zone by exposing them to the pressures involved in setting up a business."
– Kira Hughes
Careers Consultant, Imperial College Business School
The aim of the business challenge is to help MBA students gain a 360 degree view of setting up a business, applying the theory learned on their MBA programme to help increase self-awareness and gain a better understanding of their abilities across core leadership areas.
On Monday, the nine teams pitched their ideas to a panel of industry experts, who acted as investors, allocating budgets ranging from £200-£400 to enable the students to source and buy products for their market stall.
At the end of the event the profits made by each team will be added up and the winning group will be the one with the highest return on their investment. The winning team will be invited to give the profits to a charity of their choice. Their prize will be a dinner with Diane Morgan, Associate Dean of Programmes at Imperial College Business School, and a group of alumni.
In last year’s challenge, the teams sold a variety of products including festive-themed jumpers and products, scented candles and lanterns, organic soaps and Dr Dre urBeats earphones at a 50 per cent discount.
Kira Hughes, Careers Consultant at Imperial College Business School, said: “The 360 Business Challenge really forces students out of their comfort zone by exposing them to the pressures involved in setting up a business. Several teams have tapped into the spirit of innovation that sits at the heart of Imperial, by choosing products, such as power banks, that will appeal to students looking for gadgets designed to solve their technology issues. This year’s students have really embraced the challenge and shown an exceptional level of commitment and enthusiasm, with a determination to win the challenge.”
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Laura Singleton
Communications Division
