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- All Subjects: Entrepreneurship
- Creators: Barrett, The Honors College
- Member of: Barrett, The Honors College Thesis/Creative Project Collection
This thesis explores the viability of the creation of a board game café in downtown Phoenix that would donate a percentage of its profits to local charities and other initiatives for the improvement of the Phoenix area. Using a combination of different entrepreneurship and business model templates, fourteen questions were answered to complete the business model, including questions about resources and partnerships necessary for the venture’s success in addition to what the cost structure and revenue streams would look like. These fourteen questions make up the fourteen different parts of the Lean Launch Business Model Canvas, the template primarily used for the display of the final business model. The business model canvas undergoes “cycles” – that is, different drafts of the canvas are created and added to or modified as needed. This particular business model canvas underwent as many as 15 cycles before becoming finalized and receiving approval.
The completion of the business model canvas invites speculation about its actual viability, bringing up questions about financing, projected sales, and the length of the venture’s future. “Pivots,” modifications of the business model to either increase revenue or decrease costs, are also explored at this point. While this particular business idea does have a sustainable competitive advantage in the Phoenix area as a first mover, it would be unwise to pursue the idea further, as the costs are far too high and the required activities far too numerous to outweigh the revenues and benefits. In addition, it would be difficult to obtain funding at a reasonable interest rate for a venture with such a high risk of failure. In this case, a pivot was considered that eliminated nearly all costs and risk, while still relying on a very similar revenue stream. This pivot suggested a far simpler and more economical way of accomplishing the original goal of bettering the Phoenix metro community and giving customers the chance to rediscover in-person communication.
The NCAA is changing the current rules and regulations around a student-athlete’s name, image, and likeness. Previously, student-athletes were not allowed to participate in business activities or noninstitutional promotional activities. With the new rule changes, student-athletes will be able to engage in business activities related to their own name, image, and likeness. The goal of the team was to help “prepare athletes to understand and properly navigate the evolving restrictions and guidelines around athlete name, image, and likeness”. In order to accomplish this, the team had to understand the problems student-athletes face with these changing rules and regulations. The team conducted basic market research to identify the problem. The problem discovered was the lack of communication between student-athletes and businesses. In order to verify this problem, the team conducted several interviews with Arizona State University Athletic Department personnel. From the interviews, the team identified that the user is the student-athletes and the buyer is the brands and businesses. Once the problem was verified and the user and buyer were identified, a solution that would best fit the customers was formulated. The solution is a platform that assists student-athletes navigate the changing rules of the NCAA by providing access to a marketplace optimized to working with student-athletes and offering an ease of maintaining relationships between student-athletes and businesses. The solution was validated through meetings with interested brands. The team used the business model and market potential to pitch the business idea to the brands. Finally, the team gained traction by initiating company partnerships.
Women’s roles in society have changed significantly throughout the years. The movement to support the rights of women has been ongoing throughout the evolution of society but has been especially prevalent in the last century. The 1960s are when women began to enter the workforce instead of being limited to presuming roles as homemakers. Since that point in time, women have continued to thrive in the workforce and have pursued a larger variety of positions in various fields. Even though the opportunities for women continue to grow, there still seems to be an underrepresentation of women in science, technology, engineering, and mathematics (STEM) related fields. The underrepresentation of women pursuing physician and entrepreneurship roles in STEM will be analyzed and the challenges this group of people specifically encounter will be examined. Our first proposal to encourage women to enter STEM focuses on middle-school initiatives and incubator programs. The second proposal, based on commonalities females face within the workforce, is finding a better work/home life balance with the development of new maternity/paternity leave policies. Through these initiatives, we believe that the gender gap in STEM can be bridged.
Women’s roles in society have changed significantly throughout the years. The movement to support the rights of women has been ongoing throughout the evolution of society but has been especially prevalent in the last century. The 1960s are when women began to enter the workforce instead of being limited to presuming roles as homemakers. Since that point in time, women have continued to thrive in the workforce and have pursued a larger variety of positions in various fields. Even though the opportunities for women continue to grow, there still seems to be an underrepresentation of women in science, technology, engineering, and mathematics (STEM) related fields. The underrepresentation of women pursuing physician and entrepreneurship roles in STEM will be analyzed and the challenges this group of people specifically encounter will be examined. Our first proposal to encourage women to enter STEM focuses on middle-school initiatives and incubator programs. The second proposal, based on commonalities females face within the workforce, is finding a better work/home life balance with the development of new maternity/paternity leave policies. Through these initiatives, we believe that the gender gap in STEM can be bridged.
Battered is a socially responsible bakery focused on providing prevention awareness, education, and donations to sexual violence awareness and aid. The bakery model will provide education resources within each order on the problem and current availability of aid and donations for local and national charities that assist in sexual violence aid and awareness. In order to assist in prevention and aid, Battered will create a safe environment and non-confrontational outlet for a taboo conversation; offering sweet treats in conjunction with aid and education of sexual violence awareness. Additionally, the company will donate 10% of all profits to local and national organizations that help victims of sexual violence.
When examining the average college campus, it becomes obvious that students feel rushed from one place to another as they try to participate in class, clubs, and extracurricular activities. One way that students can feel more comfortable and relaxed around campus is to introduce the aspect of gaming. Studies show that “Moderate videogame play has been found to contribute to emotional stability” (Jones, 2014). This demonstrates that the stress of college can be mitigated by introducing the ability to interact with video games. This same concept has been applied in the workplace, where studies have shown that “Gaming principles such as challenges, competition, rewards and personalization keep employees engaged and learning” (Clark, 2020). This means that if we manage to gamify the college experience, students will be more engaged which will increase and stabilize the retention rate of colleges which utilize this type of experience. Gaming allows students to connect with their peers in a casual environment while also allowing them to find resources around campus and find new places to eat and relax. We plan to gamify the college experience by introducing augmented reality in the form of an app. Augmented reality is “. . . a technology that combines virtual information with the real world” (Chen, 2019). College students will be able to utilize the resources and amenities available to them on campus while completing quests that help them within the application. This demonstrates the ability for video games to engage students using artificial tasks but real actions and experiences which help them feel more connected to campus. Our Founders Lab team has developed and tested an AR application that can be used to connect students with their campus and the resources available to them.