https://padlet.com/rbuckel21/3ef94jmuu00g7oq5 For my Senior Seminar Course at Florida Southern College, I am examining a small business in need of a loan and applying the concept of the Triple Bottom Line to that particular small business. en-us 2020-09-09 21:54:11 UTC 2024-11-21 19:00:16 UTC hello@padlet.com rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741932200 This is Jason, the small business owner of GreenSpace Enterprise Technologies, Inc. located in Springboro, Ohio.

Click the link to learn more about our loan recipient, Jason. 

https://www.kiva.org/lend/2004591]]> 2020-09-13 15:36:23 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741932200 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741934424 Jason plans to utilize this loan to place the first order of sensors. Right now, the company merely has software, but no physical, tangible product to grab customers' interest. This loan is crucial to attracting customers to the business and the products it has to offer.]]> 2020-09-13 15:39:14 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741934424 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741934709 • $6,000 total loan
• 30 month loan length 
• Will repay one lender per month after fully funded
• No interest
• Must reach the total $6,000 to receive any loan assistance 


]]> 2020-09-13 15:39:33 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741934709 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741941400 2020-09-13 15:48:37 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741941400 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741942780 • Small business
• Create sensors to monitor company-owned space usage 
• New technology to improve productivity and cut company costs]]> 2020-09-13 15:50:24 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741942780 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741947866 2020-09-13 15:57:11 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741947866 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741960575 2020-09-13 16:13:58 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741960575 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741962219 Currently:
• The sensors can be used to minimize client's electricity usage

Why?
• Clients save money on electricity usage, while also reducing their ecological footprint]]> 2020-09-13 16:15:59 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741962219 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741962381 • Can increase profits by using the censors in the GreenSpace's offices to minimize electricity usage 
• Refurbish old, used sensors to resell to other small businesses. This helps the environment by reducing electricity usage for the small business and preventing the old technology from ending up in the landfill. There is a community aspect, in that it provides small businesses with an opportunity to increase employee productivity and meeting space efficiency
• Manufacture his own products to reduce costs. In doing so, he could implement eco-friendly manufacturing techniques and provide jobs in the local community. ]]> 2020-09-13 16:16:12 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741962381 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741971686 Currently:
• Life-long goal of improving the lives of those in the community

How does he accomplish this?
• Creating long-term, efficient, and cost-saving products & services for larger companies 
• Jason's products & services bring people together to share, collaborate, and brainstorm ideas. By doing so, they can create better products and services to improve their customers' lives

]]> 2020-09-13 16:28:47 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741971686 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741974420 Currently:
• Jason does not engage in any community work or outreach, but has the potential to do so!

Improvement Points:
• Host a S.T.E.M. monthly program for young girls to teach them about the advancements in technology and how they can contribute
• Gather a panel of small business owners similar to himself to educate and provide advice to aspiring or new entrepreneurs

Why?
• Women are still underrepresented in the S.T.E.M. field
• Jason has the skills and knowledge to inspire girls to learn more about technology
• Anyone could learn from Jason's bravery to break away from his company to pursue his dream as an entrepreneur ]]> 2020-09-13 16:32:26 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741974420 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741980573 Currently:
• Kiva website and company's website provides little information about the company's employees

Improvement Points:
• Jason could highlight each employee on his website, whether there are employees now or as he gains employees as he grows his business

Why?
• Employee highlighting puts a face to a name, helping customers see the helpful team available! Employees will feel included in the team, boosting employee morale]]> 2020-09-13 16:39:45 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741980573 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741998386 How can Jason reduce his ecological footprint?
• Implement a technology recyclables program for Jason's customers
• Utilize the sensors in Jason's company's offices

How?
• The company would collect old sensors from clients that are replacing or upgrading to a new sensor. Jason's company would take the recyclable sensors to a technology recycling center
• Using the sensors will not only allow Jason to test the product and its capabilities, but also reduce their electricity usage]]> 2020-09-13 17:01:37 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/741998386 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/742013455 2020-09-13 17:21:34 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/742013455 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/742014883 • Microsoft STEM Program provides girls with the opportunity to learn more about the STEM field and how they can become involved!
• Microsoft's example could be a great inspiration to Jason (even for a more scaled-down, local outreach approach)

]]> 2020-09-13 17:23:29 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/742014883 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/742016154 • Nespresso collects the coffee pods from customers
• Repurposes aluminum for use in new products and uses the coffee grounds in soil
• While Nespresso's example is not tech-related, it could spark Jason's ideas of how he could reuse or properly recycle his products]]> 2020-09-13 17:25:17 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/742016154 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/742020482 • Bose accepts returns of their products, fixes them up, and resells them for a fraction of the price
• Brings in revenue while helping someone enjoy Bose products that may have not been able to otherwise
• Keeps damaged technology out of the landfill ]]> 2020-09-13 17:30:42 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/742020482 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/742023138 GreenSpace's sensors could be incredibly useful during the pandemic. Jason could significantly profit in this situation simply by putting people and the planet first. He would achieve all three pillars of the Triple Bottom Line.

How?
The sensors could monitor how many people are in one room

Why would this be helpful?
• Sensors could help prevent the spread of the virus in large groups of people
• Benefits community and public health
• Simultaneously helps reduce electricity usage 
• Get people back into the office working - reduce the number of employees furloughed 
• Could generate huge profits right now, as businesses are looking to get employees back in the office in a safe way!]]> 2020-09-13 17:34:08 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/742023138 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860158499 2020-10-26 01:29:07 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860158499 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860161231 2020-10-26 01:30:52 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860161231 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860166722 2020-10-26 01:34:24 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860166722 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860185302 What is the best cost strategy?

The best cost strategy, or combination strategy as it is also known, combines the differentiation and overall cost leadership strategies. 

This strategy seeks to target individuals seeking a low-cost product, but also desire a high-quality product and/or experience.

For this section of the project, I based my decisions and thoughts on the official GreenSpace Enterprise Technologies website. The website went into significantly more detail about Jason's products to best make my decision. ]]> 2020-10-26 01:46:10 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860185302 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860190911 I believe that Justin is implementing the best cost strategy as his business-level strategy because: 
• On the company's website, it states that "We offer the most competitive prices within the industry." The goal of this statement is to attract low-cost seeking customers and to demonstrate the company's ability to offer a quality product for a fraction of what the competition is charging. 
• Additionally on the company's website, specific differentiating aspects of the product are discussed, including: 
        • POE Communication and the power supply system that 
          minimizes product failure 
        • Communication between the sensors and the unique, user-    
          friendly GreenSpace scheduler app and the Wayfinder panels
       •  Offering of 3 sensor types, including an ad-hoc room sensor, 
           conference room sensor, and traffic sensor
     = A simplified, user-friendly product that produces useful reports  
        and results to maximize and more efficiently use available work     spaces.]]> 2020-10-26 01:49:59 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860190911 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860219958 2020-10-26 02:10:46 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860219958 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860229914 In my opinion, I think the best cost strategy is a great business-level strategy for GreenSpace because: 
• Many innovative technology companies similar to GreenSpace differentiate their product(s). In a constantly growing and changing market, technology companies must continuously innovate and boast the latest and greatest innovations.
• Buyers want the "biggest bang for their buck," especially when related to device functionality and the high costs typically associated with new and innovative technology. Offering a quality product for a fraction of the price competitors are offering similar products at could help attract customers. 
•  Offering a high quality product with quality performance and customer service will assist in developing brand loyalty.]]> 2020-10-26 02:17:42 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860229914 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860241571 2020-10-26 02:25:46 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860241571 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860243681 2020-10-26 02:27:06 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860243681 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860260279 2020-10-26 02:38:14 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860260279 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860273152 I would recommend Jason to focus his attention on marketing and sales because customers are constantly flooded with product options. If Jason focuses on marketing and sales, he can work to target the ideal customer and develop an advertising approach to best reach those identified customers. Jason must find ways to creatively advertise and purchase media/advertising space in bulk amounts to reach the right potential customer at a low cost. Marketing and selling in this manner will allow Jason to promote his unique product, keep up with the competition, and maintain his cost leadership. 

Key advertising & selling points: 
• Low cost compared to competitors to highlight low-cost leadership
• Highlight the quality of product and customer service experience, even for a low price compared to competitors
• Unique POE communication and integration of devices for a simple, user-friendly product with detailed reports for future work-space usage maximization ]]> 2020-10-26 02:46:34 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860273152 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860274584 I would recommend Jason to focus his attention on technology and development because the technology industry is constantly evolving and product features are always improving. Constant improvement and change place quite a bit of demand on companies like Jason's. Without attention focused on ways to improve and stay ahead of the competition in regards to innovative and improved features, companies like Jason's will be overshadowed by competitors. Jason can also find ways to reduce product production costs through continued development and innovation.]]> 2020-10-26 02:47:30 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860274584 rbuckel21 https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860275790 I would recommend Jason to focus his attention on procurement because as a low-cost leader (as part of the best cost strategy), Jason could increase his profit margins by lowering his per-unit cost. Jason is already offering his product at a lower price in comparison to his competitors, but he could be even more successful by also lowering his per-unit cost. 

How could Jason do this?
• Create strong relationships with suppliers that can be trusted and relied on. 
• Have multiple suppliers to avoid complete dependency on one supplier in case there is a shortage of a particular sensor component. This will help avoid delays in getting the final product to the customer. 

Why is procurement so important?
• Improve cost-leadership position by seeking a dependable supplier that offers low-cost inputs
• Quality of inputs to improve overall product quality and customer satisfaction with the product

]]> 2020-10-26 02:48:16 UTC https://padlet.com/rbuckel21/3ef94jmuu00g7oq5/wish/860275790