Matching Items (20)
- All Subjects: Entrepreneurship
- Creators: Department of Information Systems
- Member of: Theses and Dissertations
SparkLED designs innovative and intelligent LED products to concert attendees for the music industry (specifically, electronic dance music). Unlike other LED product distributors/manufacturers, such as emazinglights.com, orbitlightshow.com, and led-clothing.com, we offer products with higher degrees of customization, while maintaining higher quality, such as battery life and product durability. Our venture aims to solve the problem that consumers have with current LED product offerings. In most cases, consumers have a problem with the quality of their products while they are used throughout the day at a concert, club, or festival. In addition, with an over saturated market of LED product vendors that strictly utilize online channels, we hope to offer the physical channel needed to foster customer relationships and development at various events.
The main goal of this study was to understand the awareness of small business owners regarding occupational fraud, meaning fraud committed from within an organization. A survey/questionnaire was used to gather insight into the knowledge and perceptions of small business owners, while also obtaining information about the history of fraud and the internal controls within their business. Twenty-four owners of businesses with less than 100 employees participated in the study. The results suggest that small business owners overestimate their knowledge regarding internal controls and occupational fraud, while also underestimating the risk of fraud within their own business. In fact, 92% of participants were not at all familiar with the popular Internal Control \u2014 Integrated Framework published by the Committee of Sponsoring Organizations of the Treadway Commission. The results also show that small business owners tend to overestimate the protection provided by their currently implemented controls in regard to their risk of fraud. Overall, through continued knowledge of internal controls and occupational fraud, business owners can better protect their businesses from the risk of occupational fraud by increasing their awareness of fraud.
Socks + Boxers began as a simple idea on a trip through Victoria's Secret as a solution to the lack of choice in quality and affordable undergarments for men. Currently, there is no central hub for men's socks and underwear. Customers shopping for men's undergarments have few choices currently: purchase an inexpensive, average quality, predetermined pack of Hanes, Fruit of the Loom, or other common undergarment brand from a store like Walmart or Target; shop for individual pieces of expensive designer underwear at a high-end department store such as Nordstrom; or, finally, purchase slightly above average quality, but fairly expensive, brand name undergarments at physical stores such as American Eagle, Urban Outfitters, or Abercrombie & Fitch, or online stores such as MeUndies. Socks + Boxers seeks to combine the accessibility and reliability of common undergarment brands, the quality and luxury-feel of high-end undergarments, and the concept of choice provided by stores that sell men's undergarment lines into a single business. We also plan to tap into the booming subscription services industry and create a way for customers to easily update and replenish their undergarment wardrobe on a regular basis with exactly what they want. In order to start out on the right foot and begin developing this business plan from the ground up, we began researching and developing a Business Model Canvas, a tool that breaks out necessary pieces of a successful business plan into easy to understand blocks. We took a critical look at the problem at hand, its potential solutions, the value the solutions provide, how we plan to start, grow, and nourish our customer base, and much more. The different pieces of this business model puzzle all come together in the following pages.
The fashion industry demonstrates itself to be highly competitive and aggressive, making it difficult for fashion graduates to find work in the industry. Another customer problem is that fashion products do not ideally meet customers' expectations, whether it is through fit, design, etc. These two problems relate to the inefficiencies in the ideation and distribution channels of fashion. There is a lack of another outlet for fashion where products are different from what retail offers and fashion ideas can be shared. The two problems stated previously are byproducts of this. This research study and entrepreneurial effort of building a web platform will allow consumers, designers, manufacturers, and retailers (these target groups are also known as "customer segments" throughout the project) to work together to create a clothing product that not only fits the customer's vision, but also provides the ability for designers and small businesses to better establish themselves in the industry. The website was designed based on potential customers' inputs collected from a marketing survey, a competitive analysis, and the business model canvas. The website was developed following the systems development life cycle (SDLC) project management method. This was followed in order to make sure the website will be available on time, with all the required features, and within the budget. According to the survey analysis, most people do not make an effort to produce a unique design if a fashion product does not meet their standards. Instead, they will settle for an item similar to what was in mind and that already exists in-stores or online. However, further data analysis showed that this difference was apparent between men and women. Thus, the research finding was that the website would be targeting a niche market of college-aged women during the first launch. In order to reach the small target segment, different digital marketing approaches must be used to attract new users. To attract college-aged female consumers, the site must discover and sponsor "influencers" to authentically promote the website towards prospective consumers. To attract designers, word of mouth is best utilized: reaching out to design majors at Arizona State University, then other local schools, and expanding from there. To attract local manufacturers and retailers, a typical direct sales strategy is necessary by informing these businesses about the team and background, so that they feel confident in the partnership. The overall hypothesis of this project: the creation of a web platform that provides a network among consumers, designers, and local businesses will create jobs for designers, cause local businesses to build recognition, and allow consumers to create their own fashion product without design experience. This site is named My Clothing Line to make it feel as though each of the individual customers are logging into their own business site.
The Clutch Services App is a platform that was imagined with the intent to bridge the gap in the Arizona State student commerce market that exists between student entrepreneurs and consumers. Our thesis validated the gap in the market through intensive research that emphasized student demand and an in-person demonstration of the problem the application would seek to solve. We consistently surveyed the student population testing if there is an existing platform that closes the gap in the market, their awareness of entrepreneurs on campus, interest in supporting student-owned businesses, and overall interest in a platform that would host ASU student-owned businesses. Additionally, we hosted an ASU Student Business Fair, on campus, to physically represent the functionality of the app and its purpose. Through these methods we were able to successfully validate the demand for a platform, exclusively for ASU students, that showcases student-owned businesses to better connect them with the student population.
We founded an operational startup company and developed a consumable product to sell to ASU students. Our primary objective is the provision of affordable nutritious energy bars to overworked and overwhelmed college students. We aim to support hungry students in efforts to fuel their bodies efficiently and nutritiously; in order to do so, we donate 20% of our profits to charity to support students in debt. Our business won the Business Catalyst Choice Award for having "the most promising business concept" in the Founder's Lab 2022-23 Cohort.
The Founders Lab is a team-focused, exploratory Barrett Thesis project that allows students the opportunity to discover and utilize their “inner entrepreneur”. This project empowers teams of students to come up with a business idea; create a strategic business model; conduct research on a target market; generate a brand style, logo, and other marketing-related materials; meet with business professionals as a way to receive feedback; and finalize a business plan with tangible deliverables. This project in particular focuses on the creation of an app that allows users to connect with others in competitive esports tournaments and participate in tutoring sessions for financial incentives. Throughout our experience participating in the Founders Lab, we were able to construct this business pitch entitled, Eventcity.
Party on Wall Street is a web-based video game developed by Maroon and Gold Game Studios. As an educational entrepreneurship video game, Party on Wall Street provides a refreshing and exciting new experience for the tycoons in society who want a little more of that entrepreneurial lifestyle. With proper research on customer demographics, Maroon and Gold Game Studio’s brand identity consists of a modern game with multiple use cases. With strong partnerships with multiple creatives and built from scratch game development, Party on Wall Street implements a fun, high intensity business competitive environment for players and students to engage in. This thesis consists of building an interactive experience through the use of AirConsole, a third party platform that hosts the game and allows players to join it by connecting to the same website on their mobile device. The primary user has access to hosting a game which can be casted to a larger screen, typically a television. When hosting a game, a room code is generated which can be typed in on the mobile device to connect to the game. When all players have joined the game, the host can initiate it. Players go through 6 rounds of pitch style investing presentations and have the opportunity to invest in other products with the ultimate goal of earning the most money. In the end, the game was successfully implemented, extensively user tested, and is under review by the AirConsole game team. Over the last year, the team successfully brought an idea through the entire product development process, learned to build a game in Unity, made practice of extensible testing and validation methods, and leveraged customer research and feedback to design a game that is ultimately both enjoyable and educational.
Entrepreneurship is an incredibly difficult endeavor. Along with the potentially high risk-to-return-ratio, starting an entrepreneurial venture, in nearly any capacity, necessitates a significant summation of work, time, creativity, and adaptability.1 In my opinion, many of the token hyper-productive individuals that have produced enormous amounts of value for the world were entrepreneurs who started their own companies and organizations. However, for every successful founder, there are thousands of failed entrepreneurs. In 2015, the Bureau of Labor Statistics found that roughly 50% of businesses fail in the first four years.2 Founders, over time, must become professionals in their respective industries in order to succeed. With limited financial capital to hire employees, founders must learn skills in a variety of focus areas which could include finance, strategy, technology, management, marketing, sales, and many more, until they can generate enough capital to hire employees to fulfill these roles. Although the learnings and experiences from starting a company can more effectively be understood through experiencing it first-hand, in this document, I intend to start a startup from scratch, learn a multitude of skills involved with starting a startup and describe my experience. My hope is that potential founders can read this document and get a better understanding of what it’s like to start a startup. This thesis will be less focused on quantitative data capturing and more focused on my first-hand experience.
Within this paper I summarize the key features, and results, of research conducted to support the development, design, and implementation of an internal control system at a startup small business. These efforts were conducted for an Honors Thesis/Creative Project for Barrett, the Honors College at Arizona State University. The research revolved around deciding which financial policies, procedures, and safeguards could be useful in creating an internal control system for small businesses. In addition to academic research, I developed an “Internal Control Questionnaire” for use as a ‘jumping off point’ in conversations about a business’ existing accounting system. This questionnaire is applicable across many industries, covering the major topics which every small business/startup should consider.
The questionnaire was then used in conjunction with two interviews of small business owners. The interviews covered both the overall financial status of their business and their business’ pre-existing accounting system. The feedback received during these interviews was subsequently used to provide the business owners with eleven recommendations ranging from the implementation of new policies to verification of existing internal controls.
Finally, I summarize my findings, both academic and real-world, conveying that many small business owners do not implement formal internal control systems. I also discuss why the business owners, in this specific circumstance, did not yet implement the aforementioned eleven suggestions.