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- Creators: Department of Supply Chain Management
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Description
The insurance industry consists of financial advisors planning for individual’s financial future through defensive investments that will payout in case of something happening to a person’s greatest asset—themselves. Each financial advisor is mandated to pass a professional exam to receive their license in order to take in clients in each state. There is a process in which clients are serviced and sold on different products of insurance. Advisors need to consider client needs and service them with products are in their best interest and within financial reason. <br/> To sell a product you must have clients, and the way that financial advisor receive clients are generally through two ways: company provided or their own connections. At the end of the day, the goal is to get in front of more people and expand you circle. In that sense, there are two common way people address this expansion of circles and that is build relationships versus networking. The goal of this paper is to dive deep in the insurance industry and analyze the sales process when comparing the difference in selling through building relationships versus selling through networking.<br/> The research plan I have in mind start from researching background and history, to current practices environment, to method process solutions. In the initial stages of my research, I will focus on background and history of the financial services industry in terms of sales and insurance. This will address insurance sales processes in the financial services industry and its features as well as benefits. After explaining the step by step process and potential results of the sales process in the insurance industry, I will start researching current environments of the industry. This will explain the history, key theoretical elements, and significant events of the industry. <br/> The history of the background will set stage for me to address situational challenges in the business based on my own experience to which I will do research to find plausible sales process solutions when comparing relationship sales to networking sales. This research will then be synthesized with my own experimental solutions as I work in the industry, which will help me complete chapter 4 and 5 of my theses – Methods and Execution of Results.
ContributorsSkelnik, Eason John (Author) / Byrne, Jared (Thesis director) / Desiderio, Jake (Committee member) / Department of Finance (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
With this research and creative project, I aim to accomplish the following: first, I narrate my own experience as a victim of cyberbullying and the jumbled, inadequate response from my university; second, I assemble a literature review of best practices for university responses to student reports of cyberbullying and cyber assault; third, I offer a call to action for universities to adopt the best practices to deter cyber assaults and learn how to listen and respond to victims
ContributorsPandarinath, Amiti Shiv (Author) / Ingram-Waters, Mary (Thesis director) / Treickel, Emilee (Committee member) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
My thesis/creative project was designing and wireframing an iOS application. I used Adobe XD to do this, and learned about the creative process behind the design and creation of mobile applications. A brief video demonstration of the click-through prototype can be found at https://youtu.be/VxI77TkIPrY.
ContributorsJackman, Olivia Brierley (Author) / McCarthy, Matthew (Thesis director) / Baskin, Connor (Committee member) / Department of Information Systems (Contributor) / Department of Supply Chain Management (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
A New Balanced Scorecard: Supplier Metrics Measuring Supplier Performance in the Automotive Industry
Description
This paper will explore how suppliers are being evaluated. It will focus on the automotive industry and the state of supplier relations in two major automotive manufacturers in the United States. A literature review will reveal common supplier metrics across industries and what they attempt to measure. Further exploration into the structure and problems at one automotive manufacturer will reveal areas of improvement. Finally, a new balanced scorecard system will be proposed to better measure supplier performance.
ContributorsChan, Catherine Ngar-See (Author) / Pfund, Michele (Thesis director) / Fowler, John (Committee member) / Johnson, Eleni (Committee member) / Barrett, The Honors College (Contributor) / School of International Letters and Cultures (Contributor) / Department of Supply Chain Management (Contributor) / Department of Marketing (Contributor)
Created2015-05
Description
In order to discover if Company X's current system of local trucking is the most efficient and cost-effective way to move freight between sites in the Western U.S., we will compare the current system to varying alternatives to see if there are potential avenues for Company X to create or implement an improved cost saving freight movement system.
ContributorsPicone, David (Co-author) / Krueger, Brandon (Co-author) / Harrison, Sarah (Co-author) / Way, Noah (Co-author) / Simonson, Mark (Thesis director) / Hertzel, Michael (Committee member) / Barrett, The Honors College (Contributor) / Department of Supply Chain Management (Contributor) / Department of Finance (Contributor) / Economics Program in CLAS (Contributor) / School of Accountancy (Contributor) / W. P. Carey School of Business (Contributor) / Sandra Day O'Connor College of Law (Contributor)
Created2015-05
Description
The current model of revenue generation for some free to play video games is preventing the companies controlling them from growing, but with a few changes in approach these issues could be alleviated. A new style of video games, called a MOBA (Massive Online Battle Arena) has emerged in the past few years bringing with it a new style of generating wealth. Contrary to past gaming models, where users must either purchase the game outright, view advertisements, or purchase items to gain a competitive advantage, MOBAs require no payment of any kind. These are free to play computer games that provides users with all the tools necessary to compete with anyone free of charge; no advantages can be purchased in this game. This leaves the only way for users to provide money to the company through optional purchases of purely aesthetic items, only to be purchased if the buyer wishes to see their character in a different set of attire. The genre’s best in show—called League of Legends, or LOL—has spearheaded this method of revenue-generation. Fortunately for LOL, its level of popularity has reached levels never seen in video games: the world championships had more viewers than game 7 of the NBA Finals (Dorsey). The player base alone is enough to keep the company afloat currently, but the fact that they only convert 3.75% of the players into revenue is alarming. Each player brings the company an average of $1.32, or 30% of what some other free to play games earn per user (Comparing MMO). It is this low per player income that has caused Riot Games, the developer of LOL, to state that their e-sports division is not currently profitable. To resolve this issue, LOL must take on a more aggressive marketing plan. Advertisements for the NBA Finals cost $460,000 for 30 seconds, and LOL should aim for ads in this range (Lombardo). With an average of 3 million people logged on at any time, 90% of the players being male and 85% being between the ages of 16 and 30, advertising via this game would appeal to many companies, making a deal easy to strike (LOL infographic 2012). The idea also appeals to players: 81% of players surveyed said that an advertisement on the client that allows for the option to place an order would improve or not impact their experience. Moving forward with this, the gaming client would be updated to contain both an option to order pizza and an advertisement for Mountain Dew. This type of advertising was determined based on community responses through a sequence of survey questions. These small adjustments to the game would allow LOL to generate enough income for Riot Games to expand into other areas of the e-sports industry.
ContributorsSeip, Patrick (Co-author) / Zhao, BoNing (Co-author) / Kashiwagi, Dean (Thesis director) / Kashiwagi, Jacob (Committee member) / Barrett, The Honors College (Contributor) / Sandra Day O'Connor College of Law (Contributor) / Department of Economics (Contributor) / Department of Supply Chain Management (Contributor)
Created2015-05
Description
Over a twelve-month period I completed industry research on women working in the financial industry. I then compiled a set of 17 qualitative questions with a focus on career development, leadership, compensation, and best practices for women working in the financial industry in order to complete my own study. I focused my time and energy on ten women working in the finance in Arizona. I completed one hour interviews with each woman in order to gain an understanding of the challenges women face in the workforce today. I have learned that gender bias is still very prevalent in the financial industry. Seven out of the ten women I spoke to labeled it as an obstacle during their career. The wage gap in finance continues to exist and I believe this is due to a culture of secrecy in the workforce and the discouragement of negotiation. The women I interviewed focused on communal leadership skills such as encouragement, empathy, and team success. This is a benefit today as the workplace culture changes these leadership strategies are extremely affective. Although gender discrimination is still prevalent, there are many promising signs for women entering the financial industry. Women as a whole are very satisfied with their careers and recommend the field to other young women starting off. Ten out of ten of the women I interviewed believe that being female in a male dominated workforce can be a benefit. If you work hard and demonstrate successful leadership abilities it can be easier to stand out. It is definitely possible to have a fulfilling career in the financial industry, but you have to define success in your own terms and make time for the activities and people you enjoy. I hope that my research will impact other young women to continue to pave the way of success for women in the financial industry.
ContributorsRuttledge, Florence Rose (Author) / Kalika, Dale (Thesis director) / Ostrom, Amy (Committee member) / Barrett, The Honors College (Contributor) / Department of Finance (Contributor) / Department of Supply Chain Management (Contributor)
Created2015-05
Description
Objective: To assess and quantify the effect of state’s price transparency regulations (hereafter, PTR) on healthcare pricing.
Data Sources: I use the Healthcare Cost and Utilization Project’s Nationwide Inpatient Sample (NIS) from 2000 to 2011. The NIS is a 20% sample of all inpatient claims. The Manhattan Institute supplied data on the availability of health savings accounts in each state. State PTR implementation dates were gathered by Hans Christensen, Eric Floyd, and Mark Maffett of University of Chicago’s Booth School of Business by contacting the health department, hospital association, or website controller in each state.
Study Design: The NIS data was collapsed by procedure, hospital, and year providing averages for the dependent variable, Cost, and a host of covariates. Cost is a product of Total Charges within the NIS and the hospital’s Cost to Charge ratio. A new binary variable, PTR, was defined as ‘0’ if the year was strictly less than the disclosure website’s implementation date, ‘1’ for afterwards, and missing for the year of implementation. Then, using multivariate OLS regression with fixed effect modeling, the change in cost from before to after the year of implementation is estimated.
Principal Findings: The analysis estimates the effect of PTR to decrease the average cost per procedure by 7%. Specifications identify within state, within hospital, and within procedure variation, and reports that 78% of the cost decrease is due to within-hospital, within-procedure price discounts. An additional model includes the interaction of PTR with the prevalence of health savings accounts (hereafter, HSAs) and procedure electivity. The results show that PTR lowers costs by an additional 3 percent with each additional 10 percentage point increase in the availability of HSAs. In contrast, the cost reductions from PTR were much smaller for procedures more frequently coded as elective.
Conclusions: The study concludes price transparency regulations can lead to a decrease in a procedure’s costs on average, primarily through price discounts and slightly through lower cost procedures, but not due to patients moving to cheaper hospitals. This implies that hospitals are taking initiative and lowering prices as the competition’s prices become publically available suggesting that hospitals – not patients – are the biggest users of price transparency websites. Hospitals are also finding some ways to provide cheaper alternatives to more expensive procedures. State regulators should evaluate if a better metric other than charge prices, such as expected out-of-pocket payments, would evoke greater patient participation. Furthermore, states with higher prevalence of HSAs experience greater effects of PTR as expected since patients with HSAs have greater incentives to lower their costs. Patients should expect a shift towards plans that offer these types of savings accounts since they’ve shown to have a reduction of health costs on average per procedure in states with higher prevalence of HSAs.
Data Sources: I use the Healthcare Cost and Utilization Project’s Nationwide Inpatient Sample (NIS) from 2000 to 2011. The NIS is a 20% sample of all inpatient claims. The Manhattan Institute supplied data on the availability of health savings accounts in each state. State PTR implementation dates were gathered by Hans Christensen, Eric Floyd, and Mark Maffett of University of Chicago’s Booth School of Business by contacting the health department, hospital association, or website controller in each state.
Study Design: The NIS data was collapsed by procedure, hospital, and year providing averages for the dependent variable, Cost, and a host of covariates. Cost is a product of Total Charges within the NIS and the hospital’s Cost to Charge ratio. A new binary variable, PTR, was defined as ‘0’ if the year was strictly less than the disclosure website’s implementation date, ‘1’ for afterwards, and missing for the year of implementation. Then, using multivariate OLS regression with fixed effect modeling, the change in cost from before to after the year of implementation is estimated.
Principal Findings: The analysis estimates the effect of PTR to decrease the average cost per procedure by 7%. Specifications identify within state, within hospital, and within procedure variation, and reports that 78% of the cost decrease is due to within-hospital, within-procedure price discounts. An additional model includes the interaction of PTR with the prevalence of health savings accounts (hereafter, HSAs) and procedure electivity. The results show that PTR lowers costs by an additional 3 percent with each additional 10 percentage point increase in the availability of HSAs. In contrast, the cost reductions from PTR were much smaller for procedures more frequently coded as elective.
Conclusions: The study concludes price transparency regulations can lead to a decrease in a procedure’s costs on average, primarily through price discounts and slightly through lower cost procedures, but not due to patients moving to cheaper hospitals. This implies that hospitals are taking initiative and lowering prices as the competition’s prices become publically available suggesting that hospitals – not patients – are the biggest users of price transparency websites. Hospitals are also finding some ways to provide cheaper alternatives to more expensive procedures. State regulators should evaluate if a better metric other than charge prices, such as expected out-of-pocket payments, would evoke greater patient participation. Furthermore, states with higher prevalence of HSAs experience greater effects of PTR as expected since patients with HSAs have greater incentives to lower their costs. Patients should expect a shift towards plans that offer these types of savings accounts since they’ve shown to have a reduction of health costs on average per procedure in states with higher prevalence of HSAs.
ContributorsSabol, Joshua Lawrence (Author) / Reiser, Mark (Thesis director) / Ketcham, Jonathan (Committee member) / Dassanayake, Maduranga (Committee member) / Barrett, The Honors College (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Department of Supply Chain Management (Contributor)
Created2015-05
Description
This piece aims to discuss the roles of emerging geographies within the context of global supply chains, approaching the conversation with a "systems" view, emphasizing three key facets essential to a holistic and interdisciplinary environmental analysis: -The Implications of Governmental & Economic Activities -Supply Chain Enablement Activities, Risk Mitigation in Emerging Nations -Implications Regarding Sustainability, Corporate Social Responsibility In the appreciation of the interdisciplinary implications that stem from participation in global supply networks, supply chain professionals can position their firms for continued success in the proactive construction of robust and resilient supply chains. Across industries, how will supply networks in emerging geographies continue to evolve? Appreciating the inherent nuances related to the political and economic climate of a region, the extent to which enablement activities must occur, and sustainability/CSR tie-ins will be key to acquire this understanding. This deliverable aims to leverage the work of philosophers, researchers and business personnel as these questions are explored. The author will also introduce a novel method of teaching (IMRS) in the undergraduate business classroom that challenges the students to integrate their prior experiences both in the classroom and in the business world as they learn to craft locally relevant solutions to solve complex global problems.
ContributorsVaney, Rachel Lee (Author) / Maltz, Arnold (Thesis director) / Kellso, James (Committee member) / Barrett, The Honors College (Contributor) / Department of Supply Chain Management (Contributor) / Department of Information Systems (Contributor)
Created2015-05
Description
The concept of constant feedback through direct access to advanced technological devices has shaped the way consumers approach shopping for desired goods. Nowadays, people want their items faster, cheaper, of higher quality, and on their schedule. Consumer preferences such as these have provided an avenue for innovative thinkers to develop new business categories through the assistance of websites and smart phone apps. An example of one of these up and coming fields is the e-grocery industry. With the swipe of a thumb, customers can order and have their groceries shipped directly to their doorstep, sometimes within hours of placing the order. As time progresses and firms learn from operating experience, culture shifts such as this shopping method may become the new norms in society. This thesis outlines a business proposal for existing retailers such as Amazon, Wal-Mart, and Target to get in front of the curve in this wave of online shopping and gain market share in this space through utilizing their current competitive advantage in logistics structures. We will attempt to encompass all aspects of the new venture by including an overview of the opportunity at hand, a census from the direct end customers providing proof of concept, methods for carrying out operational requirements, financial models forecasting future cash flows and returns on investment, established marketing materials appealing to end users, and a means to expand the outreach of the business. The end goal of this project is to provide a platform for an existing retailer to adopt into its current business structure and launch a trial run of the proposal in the near future.
ContributorsMakis, Jordan (Co-author) / Makis, Jenna (Co-author) / Eaton, John (Thesis director) / Maltz, Arnold (Committee member) / Barrett, The Honors College (Contributor) / Department of Finance (Contributor) / Department of Supply Chain Management (Contributor) / Department of Marketing (Contributor)
Created2015-05