Students in MUIDS’s “Skills for Leadership and Management” class recently created their own companies, and presented their earnings reports to members of the faculty. Both companies, CAWY and Got Ya’ Back, created their own products and sold them to customers inside and outside the MUIDS community.
CAWY created a bag that holds face masks and refillable hand sanitizer bottles. The students created the bag to help increase awareness of Covid-19, and donated their company’s profits to various charities. Many alternated positions within their company to gain a better understanding of how different departments within a business function.
The students in CAWY took a data-driven approach to deciding what product they should create. They conducted market research among their fellow students to assess demand, and used follow up surveys to determine how to improve their bag.
Got Ya’ Back used similar methods to create their product, a bag with alternating colors. Intent on promoting a high-quality of life for their employees, they created a profit sharing scheme that they believed would increase employee satisfaction within their company. Both companies reported significant returns on their investment.
After their presentations both companies faced questions from faculty members regarding how they chose different vendors to make their products, who their primary clients were, and several other key aspects of creating a business. The question and answer session gave students an opportunity to further reflect on their experiences building their companies, better preparing them for a university education and the workforce.
MUIDS will be offering the “Skills and Leadership for Management” class next year. Visit our Curriculum page for more information on this class and others like it, as well as our Apply page for upcoming admissions dates.