Embed Size (px)
Citation preview
Program and Center Overview
UNIVERSITY OF WISCONSIN–MADISONBY THE NUMBERS
OUR RANKINGS
Academic Ranking of World Universities (Shanghai Jiao Tong University 2015)
#2#3#4#4#4#8#8
#11#11#19#24
Producing Peace Corps volunteers (2015)
Top College Sports Towns (Forbes, 2009)
Total research expenditures among U.S. universities (2013)
Top producer of Fortune 500 CEOs (2011)
Patents among U.S. universities (2011)
Number of doctorates granted among U.S. research universities (2013)
America’s Best Colleges among public universities (U.S. News & World Report, 2015)
Best Public Colleges (Forbes)
Washington Monthly College Ranking (2015)
$15 BILLION OVERALL ECONOMIC IMPACT
$847.5 MILLIONIN STATE & LOCAL TAX REVENUE
311 UW-RELATED START-UP
COMPANIES IN WISCONSIN
193,310 WISCONSINJOBS
— PUBLIC OR PRIVATE —RANKED IN THE TOP FIVE FOR RESEARCH SPENDING
IN EACH OF THE LAST 30 YEARS.
THE ONLY UNIVERSITY
BEST HOSPITALS
IN WISCONSIN
(U.S. News & World Report, 2014)
#1
$1.12BILLIONTOTAL AWARDS
NON-FEDERAL AWARDS
$464.1MILLION
FEDERAL AWARDS
$659.7MILLION
Best College Values among public universities (Kiplinger’s, 2014)
2
Paige Kuypers Marketing Major, School of Business "As an incoming senior, looking back at my career opportunities and professional networking experiences at UW-Madison, I can honestly conclude that they would not have been possible without the Center and all the work that Jerry and Angie put into it. Four years ago, I did not know what professional career path that I wanted to take. When I joined the Student Retail Association, sponsored by the Center, Jerry was the first one to encourage me to take on a leadership role. From there, the Center provided multiple networking events, mock interviews, and case competitions, where I truly gained exposure to the retailing industry. I began to realize that retailing was where I wanted to be. With Jerry and Angie’s support, I obtained a Marketing Internship at Kohl’s Corporate Headquarters which lead to a full time job offer. Without Jerry and Angie’s guidance, I do not think I could have received such a well-rounded knowledge of the various career paths that can flourish within the retailing industry. Through the Center for Retailing, I have successfully found a career path that marries my Marketing major with my passion for retail."
“As a campus community, we are proud of the Center’s achievements and are thankful for the positive impact it has had on the lives of students”
–Vince Sweeney, Vice Chancellor, University Relations
Student Spotlights
Ryan Zibrowski Retail Major, School of Human Ecology “Through the consumer focused classes in the School of Human Ecology, I have the methods and understanding to look at situations from the consumers perspective and make decision that will benefit them and ultimately the company I work for. But what makes this program really unique are the opportunities to experience the industry first hand through involvement with the Student Retail Association as well as other events provided by the Center for Retailing. One example includes speaking with alumni and other successful professionals to help build a network that I can utilize in every facet of life. Another example includes the trips to visit a variety of companies and conferences to see and hear industry leading companies and professionals. These experiences have provided both a summer internship and a full time job with Dick's Sporting Goods in Pittsburgh, PA, a dream I have had since day one of college.
I truly believe I have surpassed what I thought I could achieve thanks to the wealth of knowledge and opportunity available through the Center for Retailing and The School of Human Ecology. I can confidently say that I am well prepared and ready to make a difference in the retail world.”
3
Angie Badura Assistant Director
“Angie was enthusiastic about identifying retail career and internship opportunities that aligned with my students' interests and academic background. Anytime I sent a student to meet with Angie, they were thrilled with the information and insight she provided. Angie is passionate about collaborating with campus colleagues to connect employers and students in the retail industry.”
–UW Economics Advisor
Our Mission
Our mission is to nurture a synergistic relationship between the retail industry, their partners, and the world-class faculty, staff, and students at the University of Wisconsin-Madison. This relationship is to be built on the highest ethical standards and dedicated to improving the lives of consumers, productivity of the industry, and elevating the status of retail by fueling innovation and competition in the market place.
“DEDICATED TO IMPROVING THE LIVES OF CONSUMERS, PRODUCTIVITY OF THE INDUSTRY, AND ELEVATING THE STATUS
OF RETAIL”
Jerry O’Brien Director
“What Jerry O’Brien has accomplished we think is outstanding! It’s what needs to be accomplished at a national level. Schools, beginning at UW-Madison need to replicate how Jerry has brought students and corporate America together while the students are still in school and can better prepare themselves.”
-Parents of a Junior Retailing Student
4
Junior Year Summer Plans
Internship (71%)
Non-Internship Job (17%)
Other (12%)
Internship Positions Obtained by our Students:
• Analyst• Product Development• Store Management• Marketing• Sales• HR/Recruiting• Operations
“I regularly refer students with new products, mobile applications for retailing environments, and more to the Center for both professional guidance and for help in identifying the right conversation
partners. The Center for Retailing plays a critical role in our ability to help our students - in business and beyond - deepen their industry knowledge and sharpen their entrepreneurial acumen.”
-John Surdyk, Director, INSITE
Opportunities
We asked Underclassmen:
“What would make you consider a company as an employer?”
5
We asked recently hired Juniors and Seniors:
“What Ultimately Drew You to the Company You Chose for your Internship or Full Time Job?”
“The Kohl’s Center for Retailing is a vital partner with the Wisconsin School of Business and a great resource for our students pursing the retail industry. The insights, connects, and knowledge that the Center staff has helps our business students fully understand the industry and navigate a potential
career path. I get excited to connect my students to the Center for Retailing because I know they will get something out of their encounters in both a personal and professional realm.”
–Amanda Truppe, School of Business, Career Advisor
Graduating Senior Plans
Full Time Job (78%)
Graduate School (6%)
Other (17%)
The Retail Program In the Department of Consumer Science Retail Major, we believe that effective analysis requires many abilities, only some of which are statistical. Our graduates are prepared to impact the business in meaningful ways that go beyond rote training in particular techniques. Instead, they are capable of responding to needs in thoughtful, appropriate ways from a robust toolkit. Development of these abilities is woven into every course we teach.
1. The ability to identify and gather relevant facts or data
Making sense of one’s situation and identifying a way forward require intelligence. Quite often the data gathered are what is easy or readily accessible, regardless of what might shed the most effective light on the opportunities or threats. Knowing how to conduct research or access data is key to bringing the right information to bear on the decision to be made. Our students develop this ability through numerous class projects and exposure to emerging sources of data through the IDEA Incubator.
2. The ability to think critically about business needs in the context of the situation
We’ve all heard the old story about how everything looks like a nail when you are holding a hammer. Once your toolkit expands, you can begin to see much more of the world, appreciate its complexity, and respond appropriately to the situation and needs. Not every need can be addressed by statistical analysis or a particular type of statistical analysis, but some needs demand it. Having the wisdom and capacity to select an optimal approach to the need at hand is key to having real impact on the business. Our retail major allows students guided freedom to design their own approaches to assignments and then to observe the outcome of their choices. The outcome might be taking an overly complicated approach with little incremental value that leaves them guessing when the decision must be made. Or it might be an approach that is overly simplistic, leaving out important insights that would lead to an optimal decision. Or perhaps they land on the best approach for the assignment and learn the sensation of having the right insights with the right level of effort.
3. The ability to detect and interpret meaningful patterns
Statistics has its place in retail analytics, especially in our big data world. Deciphering clues that consumers leave in their behavioral trail as to what they seek to accomplish or will do next, identifying leading indicators of future opportunity, discerning regularities in product, competitor, consumer or market performance and many other such patterns in data allow retailers to see what was previously invisible. Many retailers have or are building such analytical groups throughout their organizations, but often with an important compromise. Would I rather have someone who is strong in retail and sufficient in analytics? Or someone strong in analytics and sufficient in retail? Our program seeks to remove this compromise by developing graduates who understand retail AND analytics, as well as how the two can work most effectively together. The use of statistical analysis is encouraged throughout the curriculum and is given special focus in two courses that teach statistics in a retail context: Consumer Research & Analysis and Advanced Consumer Analytics.
The Retail Program
4. The ability to test and learn
Analysis of existing data can do more than provide insights. In the right hands, it allows for the derivation of testable hypotheses and the design of a sound in-market test. This iterative hypothesize – test – learn process is another ability infused in our program. In our Advanced Consumer Analytics course, students learn how to evaluate test designs, analyze the results, and interpret the outcomes of the test. In our capstone course, Consumer Strategy & Evaluation, students develop their own hypotheses, design a test to assess their validity and then deliver a final report with clear recommendations for future action.
5. The ability to balance opportunity and threat as well as benefits and costs
Consideration of the upside and downside or the bright side and the dark side of opportunities allows the business to proceed with a very realistic picture of likely outcomes from possible actions. As an example, a given decision may produce the desired change in consumer response, but if it cannot do so profitably, it may not be worth the investment. Quite often analysts are capable of looking at the situation from only one perspective. Our curriculum offers many opportunities for students to learn how to take a balanced view of the situations they face, examining them from multiple perspectives. We call this “reframing” or learning to recognize and challenge the assumptions that are driving our work and then learning to take on different sets of assumptions to see how our results change. This might be approaching the problem as if we are marketing and then finance. It could also mean approaching the problem assuming it is full of potential challenges versus potential gains.
6. The ability to convert results and observations into evidence-based recommendations for action
Analytics have an impact when the insights they generate can enter the on-going business dialogue. This requires the translation of insights into conversation or stories containing implications and recommendations for action that are well-supported by the analysis conducted. Our program does not stop with insights, but provides many opportunities for students to share such narratives with other students, faculty and clients. Every one of our courses provides at least one opportunity for students to practice this ability, with some of our courses providing many such opportunities. For example, in Omni-Channel Retail Strategy, students deliver six such narratives.
7
The Center for Design & Innovation, located in the School of Human Ecology, encourages creative, human-centered, interdisciplinary solutions to a wide range of issues via the application of Design Thinking.
Empathize Reframe Ideate Prototype Test
Design Thinking
Interdisciplinary problem solving is the key to the application of Design Thinking. The practice of the science of Human Ecology
is rooted in partnering with other disciplines to create robust solutions to The Big Questions
Retail Leadership Symposium
Retail Leadership Symposium provides students with a detailed examination of the retail industry and the breadth of careers available. High level industry experts from leading companies participate as guest speakers each week, providing insights to students about the industry, a glimpse of their company culture, how they got to where they are, and showcase the skills it takes to succeed in the industry.
We are lucky to hear presentations from the Center for Retailing’s corporate partners each week. Company representatives get an hour and half to design the class in the way they feel is most effective. Some companies take the opportunity to create small breakout groups hosted by an alumni who works for their company, mini case studies, or have students participate in trivia!
Class takes place in the Axelrod Collaborative Learning Hall. This is not your ordinary classroom! Students are seated in “pods” of 6, which allows for small group conversations, increased participation, and gives us the chance to allow each table to be a “host” for a company each week. This gives your company the chance to meet small groups of students personally and get a blog written about your visit that goes on the SoHE website!
“Before taking this class, I wasn’t really sure what to make of the retail industry. Symposium has showed me how fast paced, dynamic and exciting the industry is. Each time I go to class, I am excited to learn more and grow as a student in the retailing major.” –Jaylin C.
INTRODUCTION TO RETAILING
Foundational knowledge of the retail industry including the retailing process, the evolution of the industry, key drivers and trends to provide students with a framework and set of concepts
that will support the remainder of the core retail courses. .
Topics Covered: History of Retailing Types of Retailers Multichannel Retailing Customer Service Consumer Buying Behavior Retail Market & Financial Strategy Retail Locations & Site Location Visual Merchandising
Retail industry guest presenters are often invited to speak about a specific topic to a class.
Merchandise Planning Process & Buying Retail Pricing & Retail Communication Mix Supply Chain Management Customer Relationship Management Store Management Human Resource Management Loss Prevention Store Layout & Design
Students also read “Why We Buy”. Based upon the principles in this book and prior learning, students analyze a retailer and provide recommendations to increase the likelihood of purchasing.
THE GLOBAL CONSUMER
Key issues in international retailing with consideration of the global consumer. .Learning Outcomes
1. Understand and explain the internationalization process of retailing2. Compare and contrast various international retailer’s strategy and expansionpatterns 3. Consider regulatory and economic environments along with the impact theyhave on international retail development 4. Identify and describe social and cultural environments that impact shopperbehavior and purchasing patterns in various global markets 5. Describe how retailers need to vary their retail structure depending on theglobal market to meet the customer’s needs 6. Differentiate the advantages and disadvantages of international market entrymethods 7. Discuss supply chain issues for international retailers8. Provide examples of how international retailers adapt to local conditions andmarket local brands to attract consumers
Students work in teams on multiple projects to
• analyze cases of successful and not so successful global retail ventures• study retailing and consumerism in other countries• create a detailed proposal for a USA based retailer to expand internationally
and then present their results to the entire class.
RETAIL FINANCIAL ANALYSIS
Methods used in merchandising, product development and the manufacturing industry to analyze, evaluate and impact performance and efficiencies of product sales and inventory.
Learning Outcomes 1. Understand and define the different roles in merchandising, product development andmanufacturing to produce products at the right time, right place, right price, right quantity, and right appeal for customers 2. Utilize the retail method of inventory to calculate book and physical inventory and explain thecause and effects of overages and shortages 3. Understand and demonstrate the mathematical calculations and processes frequently used inthe retail and manufacturing industry to evaluate inventory performance 4. Understand and apply negotiation alternatives between retailers and manufactures5. Define and calculate measurements of inventory mark-ups & profit indicators6. Differentiate inventory pricing and markdowns strategies7. Define and calculate measurements of inventory rate of sale8. Define and calculate the components of a retailer’s merchandise financial plan and forecastbased upon market influences 9. Apply methods for analyzing and correcting problems related to retail assortments,purchases, inventory and sales 10. Prepare, modify and evaluate merchandising planning methods used to create seasonalinventory budgets 11.Understand and evaluate the causes and effects of retail pricing adjustments12. Understand and evaluate profit and loss statements of retailers and manufacturers andimpact of performances
Students utilize a workbook in and out of class that is written and developed by the professor, Dr. Nancy Murray, who has retail industry experience in buying, planning and in product development. Students obtain practical application through active learning and case studies. Students have been known to keep their workbook as a reference tool for their future internships and careers.
ADVANCED CONSUMER ANALYTICS
Data Analysis with a Human-Centered Approach and Leveraging Statistics to Meet Business Needs
. Learning Outcomes
1. To build capacity to define and execute relevant projects forbusiness needs
2. To become familiar with a range of data sources, including sociallistening and other emerging types
3. To learn to extract the key, actionable insights from the analysis4. To leverage a range of techniques to communicate insights in
digestible presentations
Examples of Projects
• Evaluate the impact and likely return on investment of new beds for a hotelchain
• Recommend optimal response to a PR disaster to minimize impact andspeed recovery
• Identify and size opportunities for improving profitability without loss of sales
CONSUMER STRATEGY AND EVALUATION
Design Thinking and Strategic Planning for Real Client Projects .
Learning Outcomes
1. To be able to formulate and articulate a clear plan of action withcompelling evidence for expected outcomes
2. To design and implement a strong implementation plan withcontingencies for the inevitable challenges and adjustments
3. To craft and execute solid evaluation of impact relative to goals withobjective recommendations for future action
Examples of Projects
• Increase sales and profit in the school’s café• Build stronger relationships with a national manufacturer’s consumers• Increase attendance of Badger football season ticket holders• Pitch innovative projects to investors• Establish a new marketplace for artisan products• Embody an existing brand in a new product
RETAIL CHANNEL STRATEGY
History of Retail Channels Combines with Emerging Retail Technology in Student Designed Experiences to Explore Enhancing Retailer Performance
.
Learning Outcomes
1. To articulate history, current strengths and weaknesses and likelyfuture of each channel
2. To evaluate how effectively each channel is being used today byparticular retailers and manufacturers, making recommendations toleverage the potential of each channel
3. To analyze possible channel applications from retailer,manufacturer and consumer perspectives, including implicationsfor vertical and horizontal competition and partnerships
4. To speak effectively about the use of retail technology in generaland for specific retailers or consumer segments
PRODUCT DEVELOPMENT STRATEGIES IN RETAILING
Merchandise product development planning through market trend analysis, assortment planning & sourcing production.
. Learning Outcomes:
1. Understand trend theories and product life cycle theories2. Identify and apply market sources for trend direction and product development.3. Distinguish strategies for identifying & forecasting trends, the globalization of trends and
the analysis and incorporation of trend data into product design and development4. Recognize, track and apply demographic, lifestyle, and psychographic trend factors that
affect consumerism.5. Differentiate product characteristics and properties6. Describe the process of product conception to final product delivered to consumers7. Identify and describe different methods in creating differentiated assortments to meet
consumer needs.8. Recognize and explain factors that impact the profitability of merchandise assortments9. Plan assortment based upon characteristics of the target consumer market and factors that
affect merchandising decisions.10. Evaluate the impact of the product development cycle and variables in the sourcing
process
• Multiple presenters from industry share with students product developmentstrategies in both soft and hard lines.
• Kohl’s, Lands End and Macy’s are retailers that have presented along withentrepreneurs such as SoHE alum and Pro BMX rider, Brain Kachinsky.
• Course is mostly project based:o Trend Boardso Competitive shopso 9 box grids & identifying white spaceo Assortment planningo and more
Comments from student evaluations:
Examples of Extracurricular Offerings
The IoT lab is a campus hub focused on learning, research and hands-‐on experimentation to discover and demonstrate the promise of the Internet of Things.
Our core research team comprises an exceptional team of faculty members and research staff from multiple departments across campus, including: ▪ Electrical and Computer Engineering▪ Computer Sciences▪ Statistics▪ Industrial and Systems Engineering▪ Biomedical Engineering▪ Manufacturing Systems Engineering▪ Information Systems▪ Operations and Technology Management▪ Consumer Science and Retailing▪ Medicine and Health Sciences▪ Mass Communication
We welcome involvement from companies and other groups that share interests in our lab. We have opportunities for collaborating on research, sponsorship for lab projects and events. Contact [email protected] for more information.
Examples of MultiDisciplinary Student Projects—
“UW-‐Madison Augmented Reality Tour” “Avatar” “Object Tracking Using Mobile Radio and Drones” “Augmented Driving with Google Glass” “Senior Medication Assistant” “Smart Kitchen Inventory” “Smart Football Helmet”
Internet of Things Lab (IoT)
Experience Retail in New York City
The National Retail Federation Conference in NYC hosts a “Student Program” that cannot be beat! They round up CEOs of companies like The Container Store, Neiman Marcus, Nordstrom, and Macy’s for executive panels. They also put successful young alumni in the spotlight to help students understand what it is like to transition to the working world and how to stand out. All of this takes place before UW students go to the 30,000 retail professional attended main conference and expo floor!
We can’t go to NYC without visiting some of our favorite retailers. Macy’s, Kohl’s Design, Li&Fung, and Ascena are just a few of the companies that have hosted our students at their offices. In past years, we have met Vera Wang, Lauren Conrad, Bobby Flay, and Anne Bourill!
Part of the NRF Conference revolves around a “Student Challenge” case competition where 4 UW-‐Madison students go against 20 other universities to be in the Top 3 to present for the chance to present in a breakout session at the conference! The exposure for these teams is
Student Retail Association (SRA)
The Student Retail Association is a 200 student strong organization that spans across all schools and colleges here at the UW, and members come from a variety of academic years and majors.
The SRA focuses on providing its members with a glimpse inside of the industry with speakers, corporate tours, and social activities.
The SRA prides itself on philanthropy and schedules 1 philanthropic event each month.
Textile and Fashion Design Program
The Textile and Apparel Design (TAD) Program at the University of Wisconsin-‐Madison is a unique hybridized program that is not offered anywhere else in the country. Our award-‐winning students are both highly creative and superb craftspeople engaged in addressing real world problems and offering sustainable solutions. Specializing in one of two areas, apparel or textile/accessory, our classes provide hand’s-‐ on creative interaction with materials which build skills while teaching students to think outside of the box. TAD courses teach student to intuitively make, analyze and revise, leading to discovery and innovation in creative problem solving.
To help our students navigate their own careers as designers, we invite in alumni and industry professionals who share their own experiences in creating a successful career in apparel, accessories and textile design. Special projects in TAD have focused on environmental, economic and societal sustainability as well as non-‐traditional entrepreneurship.
The School of Human Ecology’s annual fashion show, Pulse, is an interdisciplinary endeavor that engages students studying retailing in the planning, funding, and logistics of hosting a large scale event while affording the design students the opportunity to really hone in and focus on their work and the creative aspects of the show. For more information, please go to www.fashionshow.wisc.edu
The Center hosts several case competitions throughout the year where students can put to practice what they have learned in the classroom and during their internships.
Case competitions are a great way for companies to get involved with our students. Students get the benefit of experience, and companies get to know them and end up with creative solutions to challenging problems.
Our students have won national competitions for the NRF, Shop.Org, YMA Fashion Scholarship Fund, Indiana University Invitational, just to name a few!
Case Competitions
This is Retail National Retail Federation
Initiative
• Our mission is to advance the interests of the retail industrythrough advocacy, communications and education.
• NRF is the world’s largest retail trade association, representingdiscount and department stores, home goods and specialty stores,Main Street merchants, grocers, wholesalers, chain restaurantsand Internet retailers from the United States and more than 45countries. Retail is the nation’s largest private sector employer,supporting one in four U.S. jobs – 42 million working Americans.Contributing $2.6 trillion to annual GDP, retail is a dailybarometer for the nation’s economy. NRF’s This is Retail campaignhighlights the industry’s opportunities for life-‐long careers, howretailers strengthen communities, and the critical role that retailplays in driving innovation.
Partnership Levels
Gold Level Partnership $10,000 annual contribution and an initial 3-year commitment
Add value to the education and future lives of the graduates of the University by: v Generously providing financial and human resources to the Center v Aiding in the promotion of the retailing profession and ensuring a steady stream of
diverse and qualified graduates prepared to lead, innovate, and succeed
Gain meaningful and easy recruiting access to students from all over campus by: v Using the Center as a portal to the University that will connect partners with a wide
selection of diverse students from all majors v Developing internships that add value to students’ education v Providing executive mentors to students
Link their brand to the University of Wisconsin-Madison by: v Being listed as a partner of the Center on the website and other affiliated social
networking sites and marketing materials v Promoting sponsored events and becoming a consistent presence on campus
Benefits come from this access through: v The University’s efforts to advance industry practices and promotion of retailing as a
profession v 2 Memberships on our Board of Advisors v Opportunities to display brand logos within the Center and on marketing materials v The prospect to provide advice to the Dean and the faculty on the curriculum v Expanded and improved access to students by making classroom and student org
presentations and connections v The opportunity to make one annual presentation at the Retail Leadership Symposium
Course, to host a retail club or small group meeting, or if feasible sponsor a company visit
v Regular occasions to network with and exchange strategies with other partners for common knowledge and benefits of all
Platinum Level Partnership
$20,000 annual contribution and an initial 3 year commitment Has all access and benefits included in the Gold Level, plus:
v A special priority access to faculty v Opportunities to fund and suggest relevant research v The chance to design a special event on campus v Prominent display of your logo at the Center v Recognition as a Platinum Level Partner on the Center’s website
Also, Platinum Level Partners receive priority consideration of dates to: v Present at the Retail Leadership Symposium Course about your company v Sponsor a Student Retail Association or group meeting v Sponsor a company visit or event on campus
