For a class in new product development, we were asked to develop concepts to innovate the business school and test these concepts with prospective MBA students. So please let us know what you think, placing yourself in the prospective MBA student’s shoes. Bear in mind, this is a product concept statement, not a business plan, so it is simply intended to introduce the product and entice further inquiry. The claims we make at the end are entirely fabricated, but nonetheless in-line with the concept statement generation template.
(Brainstorming)
L-EARN
When thinking about going back to school for an MBA, why not think in business terms? Specifically, what is your opportunity cost for entering the program at [University name]? Surely, there is some quantifiable concession that would have to made in exchange for the time spent in class and studying - whether it be a foregone business opportunity, less hours at work, or the ability to invest in other personal endeavors. What if there was a way to not only further your education and career with an MBA, but a way to make money while you do it?
At the [University name] School of business, we view the rigors of academics as potentially wasted energy; hence, L-EARN. By participating in this cutting-edge student-benefited venture – and by participating we mean barely lifting a finger – you generate a constant stream of passive income simply for being enrolled in the program and showing up.
Imagine your personal computer - which you bring with you to every class - donating a portion of its unused computing power to a larger network of other students’ for the purpose of mining a steady flow of digital currency. Now, consider the payout after two years spent frequently on campus: This is only one of many creative ways students’ efforts are monetized and tangible income is generated while they earn their degrees.
This ingenious feature to the [University name] MBA experience was designed by students and instructors and won Academic Innovation of the Year in 2017. Experts at [University name] estimate L-EARN will have generated over $115,000 additional income (and other exciting opportunities) for the flagship graduating class of 2018!