Led by Professor Albert Lee, a team of three MBA students created a business proposal for a used car bidding website. The business model features live bidding and live streaming from the seller, which allows interested buyers and the seller to connect seamlessly on a platform at the same time. While this practice is rarely seen in the used car market, the team believes that it has a huge potential to succeed based on their research.
"Prof. Lee has guided us step by step to sort out the fragmented ideas into a complete business proposal," said Caroline Zhang, a participating team member. "I enjoy the experience where everyone in the group may contribute her unique talent to the project."
"The project cannot be achieved by one person,'' shared Janice Liu, another team member. "I am glad that we could form a team to continue exploring this model and its ideas."
"At the beginning of this project, none of us knew much about cars. We even doubted whether our idea of used car bidding would work. But through the course, we received more insight into the car sale market. That really helped us clear up any concerns regarding feasibility. We gradually gained the confidence to put a new idea into reality. The class is really challenging, but it is very rewarding and practical," said Josephine Foo, a fellow team member and student in the course.
The team will continue developing its project in the new quarter and set off to promote the new business in the near future.