Retail Lab

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Yukun Cai Newcastle

innovationspaceThere are several ideas appearing every day in the society. Some ideas became a part of reality, but some are still just an idea. In Newcastle University Business School, there are over 3000 students studying in and how many ideas should come out among these students? In other hand, to companies, small companies want to get development while big organizations want to occupy a bigger market rate and scale up organizations. In order to make their ideas become true, those companies need someone to give their idea and make planes. So, an Idea Retail Lab is useful for both students and companies. Companies can post their quests through the lab and students can accept those quests they like through the lab to show their ideas to the companies. This is good for both students and organizations, for which companies can solve their problems while students can give full play to their abilities and ideas.

This laboratory will be located at the ground floor. It will be approximately 60 m2 in size with chairs, tables, computers, small discussing rooms in it and a big screen on the wall. When people walk through the gate, they will find the reception on their right hand. They will also see there are 12 computers in the room directly in front of them. These companies have direct connecting net with those companies. Students can find more information about the company and more detailed information about the quests they have interests in. Then visitors will find 8 small discussing rooms which can contain at most 4 people to discuss. These discussing rooms are small but easy to discussing in it. Students can form team in the middle of the lab and then this team can discuss details about the quests in the comfortable rooms. In the middle of the laboratory there are some sofa and chairs. This area is for students to scan scroll information in the screen and form a team to complete the quests if they want. And in front of these chairs, a big screen shows up in the wall which scroll display information from companies and quests which companies offered.

In order to build this Idea Retail Lab, we need sponsors to give us some financial supports in establishing this area. We will focus on the companies in China which need to occupy a higher market rate. There are too many companies in China no matter the scale is. Almost every company wants to dominate the market. So there must be some companies wanting to be our sponsors. To be a sponsor, it is profitable for them. They can publish any quest in the lab and all the quest will be on the prominent position of the screen so that students can find it easily so that there is a higher chance to accept the quests. That means it is a low cost with a high pay back.

During the process of building this area and after that, we would like to contact some other companies as our project suppliers, the quests claimers. First of all, we post our lab into social networks, like Facebook, Twitter and LinkedIn. There are 1.4 billion users of Facebook worldwide in the end of 2013. So it is a high chance for Internet users to know our area and that would draw some companies’ attention to join our lab. With the help of social networks, we can introduce our idea lab to the world in a fairly short period. We welcome every company which contacts us for asking questions and for making cooperation with each other. Secondly, we search for the information of any company who have problems and want to solve those problems. With these information, we contact with them and show them that we have a lab of making plans for solving companies’ problems. We suggest them to show us what they want to improve and what problem they want to solve and we put those quests in our lab and let students working on those quests. Moreover, we put some examples of students’ ideas in the website which shows that our students have the ability to complete those quests in a high quality. This may give potential investors confidence to be a real investor or the projects supplier.

To students, we strongly recommend students accept project voluntarily. They can choose any quests they like to decide to complete and they can also decide to do it alone or finish the project as a team. Once they choose what quests they accept, they should tell the reception in the lab so that the staff in the reception can help them complete the application of taking the quests. A quest can be accepted by different persons and groups in the quest release time. And also, we decide to recruit some students as permanent project planers to complete certain quests in certain time, like one project a month. All the project plans will be submitted to the lab first as backups and then it will be immediately sent to the quest providers. The companies, the quest suppliers will decide which project they choose and they will pay the project planners. And to the students, if they do not want the money the company paid, they can ask the reception for change. Reception will judge the reward of the quest and then give students suggestions. If students want to change the money into credits, reception will contact with the school and then give them answers. If students do not want any money but a chance for a job interview of the project supply company, reception will contact the company and tell them the students’ want and give the students the final results.

For the events, we would like to invite a company every two days to introduce them and give some suggestions to the students about the projects planning and also will answer students’ question during the meeting. This meeting will be held online with the help of Internet and the big screen in the lab’s wall. Students can attend the meeting by sitting on the chairs and sofa to watch the screen. It is an interactive meeting for the inviter and the students. Besides, each day there will be a top 10 finance news in 4p.m. This will help students with the big issues happened in the day. And there are help lessons for project writing which are in order to help students with their project planning skill. For the idea retail lab, I think it is a platform for companies and students. It can give companies a clue to solve their problems and make a better organization. To students, it is a chance to prove them that they have the ability to transfer their knowledge into reality. They are really learning something useful for their life and work. For both companies and students, they all gain something valuable for themselves. This is a win-win way for students and the organizations.

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