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- Creators: Schlacter, John
Description
The United Nation's forecasts the World's population to grow to 9 billion by year 2050. This statistic, coupled with the fact that current organic food production yields average near 40% lower than conventionally grown crops, indicates that current methods of "sustainable" agriculture are sure to strip the planet of more wildlife habitat in order to feed so many mouths. Plus, erratic weather causing inconsistent crop production will leave vulnerable groups highly susceptible to famine. Agriculture today has a very complex supply chain that pulls resources from around the world to take to market. The Vertical Farm, LLC (TVF) seeks to change this reality and make 100% chemical free product, available locally to all major markets. The Vertical Farm, LLC is much different than a typical farm and operates on a soil-less hydroponic growing system. This system uses up to 95% less water and less than 50% of the fertilizer that an open-air organic farm would consume, by delivering all of the necessary nutrients directly to its crop's roots and recycling the solution in a closed loop system. TVF seeks to operate in unutilized warehouses and retail spaces, which will serve to control every aspects of the growing environment. This entails replacing sunlight with specially designed LED lights for horticulture applications and an HVAC system that creates the perfect growing conditions for plants to transpire. All of these capabilities translate into TVF being able to grow consistently year-round, regardless of weather, and produce quality local vegetables 30% faster than a conventional farm. In order to determine the economic feasibility of this business model, a prototype first had to be designed, which can be seen on Appendix A, B, & C. This system, designed in collaboration with University of Arizona's Controlled Environment Agricultural Center's Director, Gene Giacomelli PH. D., has determined that the roughly 1.75-acre system is capable of producing over 2.5 million pounds of lettuce every year. The footprint of the building includes all 3 major aspects of produce production, growing, harvesting, and packaging, and this vertically integrated business model allows The Vertical Farm to capture the most value, while taking its product to market. The net operating income of this prototype design is estimated to be 11.94%, with revenue in excess of $5.7 million and the largest costs being the LED lights and electricity. The Vertical Farm has mitigated its potentially largest cost, labor, by streamlining all processes of production in addition to employing the use of high-tech materials handling robots to transport crops within the facility. The Vertical Farm's production facility is not designed with human comfortability in mind (aisles are only 3' wide), but instead maximizes floor space utilization in order to produce as many pounds of product as possible. As a result, The Vertical Farm's prototype not only demonstrates the economic feasibility of indoor vertical farming today, but also gives significant merit to its growth potential to capture a portion of the $20 billion American vegetable market.
ContributorsNickerson, Michael Scott (Author) / Eaton, Kathryn (Thesis director) / Schlacter, John (Committee member) / Department of Management and Entrepreneurship (Contributor) / Barrett, The Honors College (Contributor)
Created2016-12
Description
The purpose of this thesis is to examine the current state of the brick-and-mortar bookselling industry, with particular focus on independent bookstores and their strengths and weaknesses, and synthesizing recommendations for these bookstores to reinvent themselves in a rapidly changing market. This examination is highly relevant given recent concerns that, with the rise of e-retailers like Amazon and the closure of bookstore chain Borders, brick-and-mortar bookstores may be superseded by new digital vendors. Independent bookstores are thought to be at a particular disadvantage to these retailers, given their limited size and resources, as well as the lack of capital or consumer base that a larger chain like Barnes and Noble can draw upon to invest in emerging technology. With these more limited financial opportunities, independent bookstores must find different ways to not only keep abreast of the technology that consumers are coming to expect from modern businesses, but attract customers.
To gain insight into the state of the industry and current position of independent bookstores, I will first examine the past fifty years of the brick-and-mortar bookstore, followed by a Porter’s Five Forces analysis of the industry threats and a SWOT analysis to compare the strengths and weaknesses of independent bookstores. Next, the patrons of independent bookstores will be discussed with a focus on the two largest consumer groups of Millennials and Baby Boomers, their characteristics, and the opportunities they provide to bookstores. After this there will be an exploration of the competitors to brick-and-mortar bookstores, focusing on Amazon and then touching on some of the other rivals to bookstores’ consumer base. The next section will be an in-depth analysis of a variety of bookstores across the United States, with attention to their successful practices, goals, concerns, and failures. First, there will be a comparison of industry success and failure through case studies of Borders and Powell’s bookstores. Next, there will be a comparison of five beloved independent bookstores across the country to share their varied competitive advantages that are the secret to their success. Finally, there are primary source interviews with the employees of three major Phoenix bookstores, which provide insight into the goals, current projects, attitudes, and inner strengths of these businesses. Finally, the thesis will conclude with a section offering solutions and suggestions for independent bookstores to pursue based on the primary and secondary research discussed above. These recommendations are focused on five key areas:
• Community
• Consumers
• Store Design
• Technology
• Diversification
Ultimately, the information provided by this research and these interviews indicates that while vital business changes are being pursued by independent and chain bookstores across the United States, the independent bookstore shows no signs of disappearing in favor of online vendors or e-readers.
To gain insight into the state of the industry and current position of independent bookstores, I will first examine the past fifty years of the brick-and-mortar bookstore, followed by a Porter’s Five Forces analysis of the industry threats and a SWOT analysis to compare the strengths and weaknesses of independent bookstores. Next, the patrons of independent bookstores will be discussed with a focus on the two largest consumer groups of Millennials and Baby Boomers, their characteristics, and the opportunities they provide to bookstores. After this there will be an exploration of the competitors to brick-and-mortar bookstores, focusing on Amazon and then touching on some of the other rivals to bookstores’ consumer base. The next section will be an in-depth analysis of a variety of bookstores across the United States, with attention to their successful practices, goals, concerns, and failures. First, there will be a comparison of industry success and failure through case studies of Borders and Powell’s bookstores. Next, there will be a comparison of five beloved independent bookstores across the country to share their varied competitive advantages that are the secret to their success. Finally, there are primary source interviews with the employees of three major Phoenix bookstores, which provide insight into the goals, current projects, attitudes, and inner strengths of these businesses. Finally, the thesis will conclude with a section offering solutions and suggestions for independent bookstores to pursue based on the primary and secondary research discussed above. These recommendations are focused on five key areas:
• Community
• Consumers
• Store Design
• Technology
• Diversification
Ultimately, the information provided by this research and these interviews indicates that while vital business changes are being pursued by independent and chain bookstores across the United States, the independent bookstore shows no signs of disappearing in favor of online vendors or e-readers.
ContributorsPorrell, Kelly Maria (Author) / Montoya, Detra (Thesis director) / Schlacter, John (Committee member) / School of Historical, Philosophical and Religious Studies (Contributor) / Department of Marketing (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05