Laboratory Classes

Companies have specific problems they want to solve. MBA students are eager for hands-on, real-world experience. These needs converge in several laboratory classes at the Booth School of Business, with powerful results.

For more than 20 years, companies like American Airlines, Citicorp, Clorox, and Seagrams have turned to Chicago Booth's Laboratory in New Product and Strategy Development course for student-generated solutions.

Companies sponsor a project with a specific aim—developing a new product or refining a market strategy, for example. Teams of 10 to 12 students spend months gathering and analyzing data, brainstorming solutions, prototyping products and testing them. They attack the project the same way consultants would, right up to a formal, polished presentation of recommendations to the corporate client.

Students learn the ropes of marketing and how to work effectively in teams. Participating companies say they get results comparable to those of high-priced consultants for a much lower fee.

This opportunity is no longer limited to marketing-oriented projects. Small businesses can bring their strategic and operational issues to the New Venture and Small Enterprise Lab for assistance. Teams of three to five students will work with the firm management under the guidance of an instructor. Not-for-profits and inner city businesses can also use this resource.

On the flip side of start-ups, Chicago Booth's new Private Equity Lab will pair up venture capital firms with students interested in working in the field. Students work individually or in small teams on assignments that might include evaluating new market or business opportunities or identifying opportunities for portfolio companies. Equity firms emphasizing technology, biotechnology, retail, or service are especially encouraged to sponsor a lab project.

For information on sponsoring a New Product and Strategy lab project, contact Jonathan Frenzen.

To participate in the New Venture or Private Equity Labs, contact Ellen Rudnick.