Three MCL interns presented their case studies in the entrepreneurship short course
In the last lecture of the entrepreneurship short course, three MCL interns presented their final projects – case studies on successful companies. Their successful and impressive presentations showcased remarkable amount of time and effort they had devoted to the projects. By finishing these projects, the interns acquired fundamental business knowledge and rich experience on technology and business innovations in the MCL.
Kevin Wang presented Zappos, a thriving online shoe and clothing store. Zappos was founded in 1999 by Nick Swinmurn and obtained their first investment funds of $500,000 from Tony Hsieh of Ventures Frog, who joined Zappos one year later, serving as the Co-CEO. According to Kevin, what distinguishes Zappos from other companies is its core value, “Deliver Happiness”. For its employees, Zappos creates a happy and family-like work environment. For its customers, Zappos wants to “wow” the customer so that he or she will come back. Knowing how to retain its customers is what keeps Zappos profitable. Each of its employees needs to go through a four-month training to improve their capability in serving customers and implementing company culture. It’s no wonder that Zappos has an estimated 75% customer retention rate. In 2014, Zappos faced a major change in the way it was structured in 2014. It began its transition from a traditional corporate structure to a holacracy, a new type of corporate structure designed to improve communication flow.
Matthew Trans presented Riot Games, an unquestionable world top-tier game development company despite of the fact that it only has one game: League of Legends. Even though League of Legends is a free game, Riot still managed to attain revenue of $624 million last year just from microtransactions. Riot’s success roots deeply in its philosophy of creating the most-player-focused game in history. At Riot, players come first, and revenue second. Not only does Riot’s priority [...]