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1 S MALL B USINESS S OLUTIONS Jade Lee Elizabeth Ahn Estefi Medina Mike Andrews Esther Blinkoff Vidya Sathyamoorthy Nick Deckard Taylor Schulz Lauren Ficco.

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Presentation on theme: "1 S MALL B USINESS S OLUTIONS Jade Lee Elizabeth Ahn Estefi Medina Mike Andrews Esther Blinkoff Vidya Sathyamoorthy Nick Deckard Taylor Schulz Lauren Ficco."— Presentation transcript:

1 1 S MALL B USINESS S OLUTIONS Jade Lee Elizabeth Ahn Estefi Medina Mike Andrews Esther Blinkoff Vidya Sathyamoorthy Nick Deckard Taylor Schulz Lauren Ficco Max Koehler Akhila Iruku Jeff Lue

2 2 Importance of Small Business 2 “There are approximately 23 million small businesses in the United States, representing more than 99% of all firms...collectively, these firms generate almost 50% of the sales revenues of all U.S. companies and employ more than half of the private-sector workforce.” - U.S. Small Business Administration

3 3 Research Problem 3  Small retailers are underperforming  Various business functions have been cited as problem source  Researchers have not yet identified most significant problem source

4 4 Research Question 4  What is the major pain point affecting small retailers today?  Can a technological solution addressing this problem improve small business performance as measured by overall sales, net profit, and customer retention?

5 5 Hypothesis 5  If small businesses implement a technological solution to improve their customer relationship management, they will improve their sales, net profit and customer retention.

6 6 Methodology 6 Mixed Method Design Multiple Case Study Product Development

7 7 Progress Update 7  Conducted in-store interviews  Attended International Toy Fair  Established relationship with software developer: Rolotrak  Distributing surveys  Translating survey to Spanish  Gathering past sales data from existing small business owners

8 8 Fall Survey Retailers Conduct Focus Group Determine Solution

9 9 Winter Determine Requirements for System and Develop Design Rolotrak Programs System Contact Stores and Finalize Case Study Participants

10 10 Spring Pre-TestImplement Prototype for 3- 4 Months Monitor Store Data

11 11 Summer Post-Test Analyze Data Begin Writing Thesis

12 12 Fall Continue Writing Final Thesis

13 13 Spring Finalize Thesis

14 14 Data Collection  Distributing surveys online and in-person  Targeting communities with large numbers of mall businesses in one area  Not limited geographically

15 15 Survey Distribution = Survey Distributed

16 16 Obstacles Encountered  Managers often unavailable  Language barrier  Limited scope  Only surveying retailers with nonperishable goods  No services  Retailer hesitancy to provide data  Difficult to distribute surveys

17 17 Preliminary Results If you do not currently have a retail management system, how much would you be willing to pay for one? I use my current checkout system for: What kind of checkout system do you use?

18 18 Team Composition  Topical Teams  CRM, Finance/Accounting, Inventory  Administrative  Grants Team, IRB Team  Functional (Future)  One sub-team for each case study participant  Software development subteam

19 19 Research Goals 19  Pinpoint major problem area  Determine method to address problem  Enable small businesses to be more competitive in marketplace.

20 20 Advice for Freshmen  Propose a project  Be passionate  Be problem-oriented, not solution-oriented  GEMS102 section leader is important  Be open minded  Don't get discouraged  Team cohesiveness is important  Celebrate the little achievements

21 21 Image Credit

22 22 Any Questions? 22


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