Friday, February 8, 2019
Testing the Hypothesis
WHO: Throughout my interviews, I have concluded the that individuals who are affected by this opportunity are the residents who live in Beaty Towers and also their parents, which I found surprising. The residents are directly affected by the misunderstanding and lack of information about the maintenance services, parking restrictions and package receiving process. However, the resident are usually freshman or sophomores which means they are still dependent on their parents, financially and as a support system. If they receive a parking ticket, the parents usually are responsible for paying it. If they don't receive a package sent from home, the parents are the ones to resolve why it was not delivered and that might be a loss in money used to send the package.
WHAT: Beaty Tower residents should be informed about parking restrictions, package receiving process and maintenance services so that there is no confusion, no opportunity for money loss and no frustration. The need is not informing residents about unnecessary things and the solution is not to make Resident Assistant and employees perfect.
WHY: Because the Resident Assistants and employees assume students will figure things out on their own, deal with their problems, or constantly ask questions, they do not provide as much important information as they should and instead spend time hosting socials and decorating the halls.
INSIDE THE BOUNDARY OUTSIDE THE BOUNDARY
Who is in it Who is not
- Beaty Residents and their parents - Resident assistants and employees
What the need is What the need is not
- Providing accessible and better information -The need is not to make the employees perfect and
Beaty residents, not accepting residents to to inform residents about unnecessary things
know everything about their new living
environment
Why the need exists
- Residents are not clearly and thoroughly
informed
- Who this does not directly affect are the employees and Resident Assistant who work to provide assistance and supply information to the residents. I interviewed one of the Resident assistants and even though complaints are brought up and questions are asked, there are no penalties towards the employees for the information they forget to inform.
WHAT: Beaty Tower residents should be informed about parking restrictions, package receiving process and maintenance services so that there is no confusion, no opportunity for money loss and no frustration. The need is not informing residents about unnecessary things and the solution is not to make Resident Assistant and employees perfect.
WHY: Because the Resident Assistants and employees assume students will figure things out on their own, deal with their problems, or constantly ask questions, they do not provide as much important information as they should and instead spend time hosting socials and decorating the halls.
INSIDE THE BOUNDARY OUTSIDE THE BOUNDARY
Who is in it Who is not
- Beaty Residents and their parents - Resident assistants and employees
What the need is What the need is not
- Providing accessible and better information -The need is not to make the employees perfect and
Beaty residents, not accepting residents to to inform residents about unnecessary things
know everything about their new living
environment
Why the need exists
- Residents are not clearly and thoroughly
informed
Friday, February 1, 2019
Solving the problem: The second-most important part of entrepreneuership
Opportunity: Residents living at Beaty Towers are unaware of parking restrictions in front of Beaty, services provided by maintenance and package receiver process because they are either uninformed or misinformed when they move in.
Solution: For the opportunity of being uninformed, misinformed or both, I propose a free application to Beaty residents that will provide information on the parking decal required to park in front of or around Beaty, a list of services provided by maintenance and a link that will lead them to the email they must use to request them, a group chat for all of Beaty residents and contact information to the RA's. Also, extra information about Beaty socials, laundry and events occurring in the commons.
Solution: For the opportunity of being uninformed, misinformed or both, I propose a free application to Beaty residents that will provide information on the parking decal required to park in front of or around Beaty, a list of services provided by maintenance and a link that will lead them to the email they must use to request them, a group chat for all of Beaty residents and contact information to the RA's. Also, extra information about Beaty socials, laundry and events occurring in the commons.
Testing the Hypothesis Part 1
Opportunity: Residents living at Beaty Towers are unaware of parking restrictions in front of Beaty, services provided by maintenance and package receiver process because they are either uninformed or misinformed when they move in.
Interviewee 1: Sofia Barness
Do you and your roommates share this problem? Others who live in the building?
- Yes my roommates and I share the same problem, whenever we hear something new neither of us knew about, we always inform each other about it because if not, we wont know about it.
How often and in depth are you informed about services that are available to you? Were you aware about the parking restrictions around Beaty before, after or during or residency here? When did you become familiar with the package receiver process? Are there any other things that you were not informed about that you are aware of now? Has this caused any issues for you?
- I was not very informed coming into Beaty, and during preview I was not allowed to tour Beaty, which is definitely weird considering I was considering living there. I was not aware about the parking restrictions until my friend started getting parking tickets for parking in front of Beaty. I became familiar with package receiver process when I received my first package. I was unaware about all the services that maintenance provides and that there is a printer downstairs for on campus residents.
Why do you believe you were unaware of this knowledge? Did you not look into it? were you misinformed? Were you not informed at all?
- I don't believe I was very informed about these things before or during move in. We are just told, "If you have questions, just come and ask."
Reflection: After interviewing Sofia, it is clear that she was not very informed until she was faced with problems or needs for maintenance.
Interviewee 2: Sarah Hanley
Do you and your roommates share this problem? Others who live in the building?
- My roommates and I were unaware of orange parking decals in front of Beaty and the services that maintenance provides.
How often and in depth are you informed about services that are available to you? Were aware about the parking restrictions around Beaty before, after or during or residency here? When did you become familiar with the package receiver process? Are there any other things that you were not informed about that you are aware of now? Has this caused any issues for you?
- Never was informed about services that were available to me. I was aware that I was not able to park in front of Beaty but was not informed that the parking was lifting at certain times everyday and on the weekends. I became aware of package receiver process when I got my first package and I asked how. I was not informed that there was printing downstairs in Beaty which was annoying considering I always walked to the Reitz Union to print a few pages which has made me late to certain events.
Why do you believe you were unaware of this knowledge? Did you not look into it? were you misinformed? Were you not informed at all?
- I was not informed at all about my services that I am paying for.
Reflection: After interviewing Sarah, she seemed very uninformed until she asked questions.
Interviewee 3: Michelle Leanez
Do you and your roommates share this problem? Others who live in the building?
-I feel like most people are unaware because they don't ask until they're faced with a parking ticket or are faced with a problem.
How often and in depth are you informed about services that are available to you? Were aware about the parking restrictions around Beaty before, after or during or residency here? When did you become familiar with the package receiver process? Are there any other things that you were not informed about that you are aware of now? Has this caused any issues for you?
- I am informed when I actually have a problem because I have to ask what to do but other than that, never really informed about maintenance or services. I was informed about Beaty parking restrictions during residency here. I was aware of package receiver process when Beaty sent an email stating there was a new locker system downstairs but not how to use it. I was not informed about pest control being free of service and that was one of our issues.
Why do you believe you were unaware of this knowledge? Did you not look into it? were you misinformed? Were you not informed at all?
- I don't feel as if I was very informed about Iservices or package receiver process.
- Reflection: After interviewing Michelle, it is obvious that she wishes for more opportunities to be informed on services and parking restrictions.
Interviewee 4: Emily Carver
Do you and your roommates share this problem? Others who live in the building?
-I've heard a lot of stories of residents who didn't know the we could rent brooms and vacuums downstairs and many people have bought those things when its available downstairs.
How often and in depth are you informed about services that are available to you? Were aware about the parking restrictions around Beaty before, after or during or residency here? When did you become familiar with the package receiver process? Are there any other things that you were not informed about that you are aware of now? Has this caused any issues for you?
- I honestly feel that I am not informed at all about Beaty services or parking restrictions until my residency here. Were told about socials that are happening downstairs but it isn't informational at all. I became familiar with package receiver process when I got my first package. I was unaware that there was a printer downstairs and that we could not park in front of Beaty and because I have a car, this was an issue and I was getting parking tickets without knowing why.
Why do you believe you were unaware of this knowledge? Did you not look into it? were you misinformed? Were you not informed at all?
-I don't believe we were informed as much as we should've been. How are we supposed to know what questions to ask until were faced with a problem? I'd rather avoid the problem before I'm faced with it.
Reflection: After interviewing Emily, I can conclude she wishes more information was provided to her and that should be the employees of Beaty responsibilities.
Interviewee 5: Marissa
Do you and your roommates share this problem? Others who live in the building?
- Me and roommates have asked many questions, therefore, we are knowledgeable about the services provided and parking restrictions. But if it weren't for us asking, we would have no idea.
How often and in depth are you informed about services that are available to you? Were you aware about the parking restrictions around Beaty before, after or during or residency here? When did you become familiar with the package receiver process? Are there any other things that you were not informed about that you are aware of now? Has this caused any issues for you?
-We are not very informed about the services here. If we are faced with a problem, we ask what we can do and they just tell us to put in an I service request to deal with it. I was not aware of parking restrictions until my friend started getting parking citations. I became familiar with package receiver process when i ordered a textbook online and asked how I would know it is was delivered here.
Why do you believe you were unaware of this knowledge? Did you not look into it? were you misinformed? Were you not informed at all?
- I think the Beaty staffs just relies on the situation where we are faced with getting a package or having a question about a service, they'll just tell us.
Reflection: After interviewing Marissa, I can conclude she is aware of most services and parking restrictions because her and her roommates have gone out of their way to ask questions.
Interviewee 1: Sofia Barness
Do you and your roommates share this problem? Others who live in the building?
- Yes my roommates and I share the same problem, whenever we hear something new neither of us knew about, we always inform each other about it because if not, we wont know about it.
How often and in depth are you informed about services that are available to you? Were you aware about the parking restrictions around Beaty before, after or during or residency here? When did you become familiar with the package receiver process? Are there any other things that you were not informed about that you are aware of now? Has this caused any issues for you?
- I was not very informed coming into Beaty, and during preview I was not allowed to tour Beaty, which is definitely weird considering I was considering living there. I was not aware about the parking restrictions until my friend started getting parking tickets for parking in front of Beaty. I became familiar with package receiver process when I received my first package. I was unaware about all the services that maintenance provides and that there is a printer downstairs for on campus residents.
Why do you believe you were unaware of this knowledge? Did you not look into it? were you misinformed? Were you not informed at all?
- I don't believe I was very informed about these things before or during move in. We are just told, "If you have questions, just come and ask."
Reflection: After interviewing Sofia, it is clear that she was not very informed until she was faced with problems or needs for maintenance.
Interviewee 2: Sarah Hanley
Do you and your roommates share this problem? Others who live in the building?
- My roommates and I were unaware of orange parking decals in front of Beaty and the services that maintenance provides.
How often and in depth are you informed about services that are available to you? Were aware about the parking restrictions around Beaty before, after or during or residency here? When did you become familiar with the package receiver process? Are there any other things that you were not informed about that you are aware of now? Has this caused any issues for you?
- Never was informed about services that were available to me. I was aware that I was not able to park in front of Beaty but was not informed that the parking was lifting at certain times everyday and on the weekends. I became aware of package receiver process when I got my first package and I asked how. I was not informed that there was printing downstairs in Beaty which was annoying considering I always walked to the Reitz Union to print a few pages which has made me late to certain events.
Why do you believe you were unaware of this knowledge? Did you not look into it? were you misinformed? Were you not informed at all?
- I was not informed at all about my services that I am paying for.
Reflection: After interviewing Sarah, she seemed very uninformed until she asked questions.
Interviewee 3: Michelle Leanez
Do you and your roommates share this problem? Others who live in the building?
-I feel like most people are unaware because they don't ask until they're faced with a parking ticket or are faced with a problem.
How often and in depth are you informed about services that are available to you? Were aware about the parking restrictions around Beaty before, after or during or residency here? When did you become familiar with the package receiver process? Are there any other things that you were not informed about that you are aware of now? Has this caused any issues for you?
- I am informed when I actually have a problem because I have to ask what to do but other than that, never really informed about maintenance or services. I was informed about Beaty parking restrictions during residency here. I was aware of package receiver process when Beaty sent an email stating there was a new locker system downstairs but not how to use it. I was not informed about pest control being free of service and that was one of our issues.
Why do you believe you were unaware of this knowledge? Did you not look into it? were you misinformed? Were you not informed at all?
- I don't feel as if I was very informed about Iservices or package receiver process.
- Reflection: After interviewing Michelle, it is obvious that she wishes for more opportunities to be informed on services and parking restrictions.
Interviewee 4: Emily Carver
Do you and your roommates share this problem? Others who live in the building?
-I've heard a lot of stories of residents who didn't know the we could rent brooms and vacuums downstairs and many people have bought those things when its available downstairs.
How often and in depth are you informed about services that are available to you? Were aware about the parking restrictions around Beaty before, after or during or residency here? When did you become familiar with the package receiver process? Are there any other things that you were not informed about that you are aware of now? Has this caused any issues for you?
- I honestly feel that I am not informed at all about Beaty services or parking restrictions until my residency here. Were told about socials that are happening downstairs but it isn't informational at all. I became familiar with package receiver process when I got my first package. I was unaware that there was a printer downstairs and that we could not park in front of Beaty and because I have a car, this was an issue and I was getting parking tickets without knowing why.
Why do you believe you were unaware of this knowledge? Did you not look into it? were you misinformed? Were you not informed at all?
-I don't believe we were informed as much as we should've been. How are we supposed to know what questions to ask until were faced with a problem? I'd rather avoid the problem before I'm faced with it.
Reflection: After interviewing Emily, I can conclude she wishes more information was provided to her and that should be the employees of Beaty responsibilities.
Interviewee 5: Marissa
Do you and your roommates share this problem? Others who live in the building?
- Me and roommates have asked many questions, therefore, we are knowledgeable about the services provided and parking restrictions. But if it weren't for us asking, we would have no idea.
How often and in depth are you informed about services that are available to you? Were you aware about the parking restrictions around Beaty before, after or during or residency here? When did you become familiar with the package receiver process? Are there any other things that you were not informed about that you are aware of now? Has this caused any issues for you?
-We are not very informed about the services here. If we are faced with a problem, we ask what we can do and they just tell us to put in an I service request to deal with it. I was not aware of parking restrictions until my friend started getting parking citations. I became familiar with package receiver process when i ordered a textbook online and asked how I would know it is was delivered here.
Why do you believe you were unaware of this knowledge? Did you not look into it? were you misinformed? Were you not informed at all?
- I think the Beaty staffs just relies on the situation where we are faced with getting a package or having a question about a service, they'll just tell us.
Reflection: After interviewing Marissa, I can conclude she is aware of most services and parking restrictions because her and her roommates have gone out of their way to ask questions.
Friday, January 25, 2019
Identifying Opportunities in Economic and Regulatory Trends
Economic Trends:
Opportunity #1: Financial Markets Control Oil, Gas and Food Prices and supply and demand are no longer considered.
(a) Where I found this opportunity?
- https://www.thebalance.com/top-usa-future-economic-trends-3305666
(b) What led me to believe that this information suggests an opportunity exists?
- Because of the fluctuating changes in price for oil and gas and the fact that foreign exchange traders determine the value of the dollar
(c) Who do I think is most likely to be the customer with the opportunity?
- The customer would most likely be the consumers of gas, oil and food
(d) Is this opportunity relatively easy or relatively difficult to exploit, and why do I think so?
- I think t is relatively difficult because despite the outside perspective of consumers, there is more that goes on in the system that we may not understand.
Why did I see this opportunity?
- In every opportunity, I believe there is room for improvement, especially if consumers are unhappy with what they are receiving.
Opportunity #2: Baby boomers are not retiring
(a) Where I found this opportunity?
- https://www.thebalance.com/top-usa-future-economic-trends-3305666
(b) What led me to believe that this information suggests an opportunity exists?
- Because baby bloomers continue to work, it does not allow room for the new generation to take their position, causing them to find temporary and part-time jobs.
(c) Who do I think is most likely to be the customer with the opportunity?
- I believe the baby bloomers will most likely be customer; there may be a possibility of creating a program for the retired where they can support themselves without having to work.
(d) Is this opportunity relatively easy or relatively difficult to exploit, and why do I think so?
- I don't think its very difficult but at the same time, it's not that easy either. There are plenty variables to consider when thinking of solutions for this opportunity.
Why did I see this opportunity?
- I think I saw this opportunity because I am the new generation who will be seeking careers and jobs in a few years.
Regulatory Trends:
Opportunity #3: Tariffs and Trade Policies
(a) Where I found this opportunity?
- https://corporatefinanceinstitute.com/resources/knowledge/finance/regulatory-risk/
(b) What led me to believe that this information suggests an opportunity exists?
- After reading this article I've come to the conclusion that the increase in tariffs in the US will affect consumers who import and export goods and it is prohibited to purchase from China.
(c) Who do I think is most likely to be the customer with the opportunity?
- I believe the consumer would be consumers of imports and exports
(d) Is this opportunity relatively easy or relatively difficult to exploit, and why do I think so?
- I believe this opportunity would be very difficult to exploit because increasing and decreasing tariff serves either a purpose to balance the flow of money or to increase profit, but only for one side.
Why did I see this opportunity?
- This opportunity has already occurred which is why restriction have been made to prevent it.
Opportunity #4: Minimum Wage Increasing
(a) Where I found this opportunity?
- https://corporatefinanceinstitute.com/resources/knowledge/finance/regulatory-risk/
(b) What led me to believe that this information suggests an opportunity exists?
- Increasing minimum wage will have a negative affect on small businesses and businesses with large quantities of employees
(c) Who do I think is most likely to be the customer with the opportunity?
- I believe that business owners and CEO's will be the customer in this opportunity
(d) Is this opportunity relatively easy or relatively difficult to exploit, and why do I think so?
- I think this opportunity is relatively easy because its cause and affect; if wage goes up, businesses will want to either hire less or increase product or service price, which will affect demand for employment and service/product.
Why did I see this opportunity?
- This has actually been a realistic theory that can happen at any time and probably has already happened
Opportunity #1: Financial Markets Control Oil, Gas and Food Prices and supply and demand are no longer considered.
(a) Where I found this opportunity?
- https://www.thebalance.com/top-usa-future-economic-trends-3305666
(b) What led me to believe that this information suggests an opportunity exists?
- Because of the fluctuating changes in price for oil and gas and the fact that foreign exchange traders determine the value of the dollar
(c) Who do I think is most likely to be the customer with the opportunity?
- The customer would most likely be the consumers of gas, oil and food
(d) Is this opportunity relatively easy or relatively difficult to exploit, and why do I think so?
- I think t is relatively difficult because despite the outside perspective of consumers, there is more that goes on in the system that we may not understand.
Why did I see this opportunity?
- In every opportunity, I believe there is room for improvement, especially if consumers are unhappy with what they are receiving.
Opportunity #2: Baby boomers are not retiring
(a) Where I found this opportunity?
- https://www.thebalance.com/top-usa-future-economic-trends-3305666
(b) What led me to believe that this information suggests an opportunity exists?
- Because baby bloomers continue to work, it does not allow room for the new generation to take their position, causing them to find temporary and part-time jobs.
(c) Who do I think is most likely to be the customer with the opportunity?
- I believe the baby bloomers will most likely be customer; there may be a possibility of creating a program for the retired where they can support themselves without having to work.
(d) Is this opportunity relatively easy or relatively difficult to exploit, and why do I think so?
- I don't think its very difficult but at the same time, it's not that easy either. There are plenty variables to consider when thinking of solutions for this opportunity.
Why did I see this opportunity?
- I think I saw this opportunity because I am the new generation who will be seeking careers and jobs in a few years.
Regulatory Trends:
Opportunity #3: Tariffs and Trade Policies
(a) Where I found this opportunity?
- https://corporatefinanceinstitute.com/resources/knowledge/finance/regulatory-risk/
(b) What led me to believe that this information suggests an opportunity exists?
- After reading this article I've come to the conclusion that the increase in tariffs in the US will affect consumers who import and export goods and it is prohibited to purchase from China.
(c) Who do I think is most likely to be the customer with the opportunity?
- I believe the consumer would be consumers of imports and exports
(d) Is this opportunity relatively easy or relatively difficult to exploit, and why do I think so?
- I believe this opportunity would be very difficult to exploit because increasing and decreasing tariff serves either a purpose to balance the flow of money or to increase profit, but only for one side.
Why did I see this opportunity?
- This opportunity has already occurred which is why restriction have been made to prevent it.
Opportunity #4: Minimum Wage Increasing
(a) Where I found this opportunity?
- https://corporatefinanceinstitute.com/resources/knowledge/finance/regulatory-risk/
(b) What led me to believe that this information suggests an opportunity exists?
- Increasing minimum wage will have a negative affect on small businesses and businesses with large quantities of employees
(c) Who do I think is most likely to be the customer with the opportunity?
- I believe that business owners and CEO's will be the customer in this opportunity
(d) Is this opportunity relatively easy or relatively difficult to exploit, and why do I think so?
- I think this opportunity is relatively easy because its cause and affect; if wage goes up, businesses will want to either hire less or increase product or service price, which will affect demand for employment and service/product.
Why did I see this opportunity?
- This has actually been a realistic theory that can happen at any time and probably has already happened
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