1 - What surprised me most about Andrew Carnegie based on David Nasaw depiction of his life was how poor his upbringing was and how he came from nothing to be one of the wealthiest men alive at the time. What I admired most was his dedication to his philanthropic efforts once he retired from the steel business. What I least admired about him were the questionable methods of obtaining his power and wealth. Carnegie was born into adversity and climbed through it all to rise to his stature. One particular issue he faced was with labor issues and unions which he got through at the expense of his employee-friendly reputation.
2 - I noticed many competencies he exhibited throughout his life, but the main ones were determination, hard-work, effective utilization of resources, opportunistic actions, and management techniques.
3 - One part of the reading I found confusing was how he transformed into a philanthropist after making his money as an unethical, robber-baron. What triggered his change in mindset is still confusing to me.
4 - The first question I would ask him is What he thought was the key to his success? and the next question I would ask him would be What made him turn away from his business and shift his efforts into philanthropy? I would ask him these questions to find out how he attained his success and find out why he did that once he retired because it never made sense to me.
5 - I believe his opinion of hard-work was very high because he could not have achieved his stature without hard-work. He did say that success does not come from endless work, but the right man at the right time, but that right man has to be able to work hard to achieve success.
Thursday, February 27, 2020
14A - Halfway Reflection
1 Tenaciousness is a competency - The primary behaviors I have used to keep up with the requirements of this course are organization, determination, and creative thinking. Focusing on those 3 will give you a great head start to completing this course.
2 Tenaciousness is also about attitude - I feel like I have wanted to give up multiple times because some of these assignments require quite a bit of time. What got me through is my desire to get a good grade. I feel like this class has helped me develop a tenacious attitude, but I feel like that attitude is how I have gotten through school up to this point.
3 Three tips - The three tips I would say is go in with an open mind realizing how all of these elements are going to mesh together to develop your entrepreneurial mind, get ahead of your assignments so you do not miss the noon deadlines, and embrace the work that goes into each assignment because they all help in one way or another and it'll make each assignment more enjoyable to do.
Thursday, February 20, 2020
12A - Figuring Out Buyer Behavior No. 1
In order to sketch out the beginning of the buyer behavior process, I'm going to analyze my target segment through their need awareness and information search. My target segment is middle class Tampa Bay Buccaneers fans living in the Greater Tampa Bay Area.
The first individual I interviewed was a lifelong Buccaneers fan in his mid-40s who lives in South Tampa. He had the same unmet need feeling that going to the games was not worth the money for the ticket and food and drink. He has always noticed this need which is why his solution has been only attending one game a year due to the financial commitment of going to the games.
The next individual I interviewed was a Buccaneers fan in his lower-30s who lives about 30 minutes east of Tampa. He also has this unmet need as the financial commitment of going to the game does not exceed the satisfaction he gets from driving across town just to spend a minimum of $150. He tries to get tickets at a discounted rate from a variety of vendors, but it does not always work out.
The last individual I interviewed was a Buccaneers fan in his early who lives 5 minutes away from the stadium in his late 20s. He realized this need growing up as he would go to many of the tailgates as he claimed they were more fun than the game and way cheaper. He loved the idea as he is always looking for a cheaper way to watch the games and have more fun at the game, which he has not been able to do.
In conclusion, the need for my idea is present among my target audience. They all seemed to share the idea that it was not worth paying all the money to watch the game when the stadium isn't that much fun. There was no real solution any of them had to this unmet need which made them all excited for the idea I pitched them.
The first individual I interviewed was a lifelong Buccaneers fan in his mid-40s who lives in South Tampa. He had the same unmet need feeling that going to the games was not worth the money for the ticket and food and drink. He has always noticed this need which is why his solution has been only attending one game a year due to the financial commitment of going to the games.
The next individual I interviewed was a Buccaneers fan in his lower-30s who lives about 30 minutes east of Tampa. He also has this unmet need as the financial commitment of going to the game does not exceed the satisfaction he gets from driving across town just to spend a minimum of $150. He tries to get tickets at a discounted rate from a variety of vendors, but it does not always work out.
The last individual I interviewed was a Buccaneers fan in his early who lives 5 minutes away from the stadium in his late 20s. He realized this need growing up as he would go to many of the tailgates as he claimed they were more fun than the game and way cheaper. He loved the idea as he is always looking for a cheaper way to watch the games and have more fun at the game, which he has not been able to do.
In conclusion, the need for my idea is present among my target audience. They all seemed to share the idea that it was not worth paying all the money to watch the game when the stadium isn't that much fun. There was no real solution any of them had to this unmet need which made them all excited for the idea I pitched them.
11A - Idea Napkin No. 1
You: I am a second year business management major from outside of Tampa, FL. I have grown up a die-hard Buccaneers fan always looking to improve the team and the organization. My goal is to work for the Tampa Bay Buccaneers which will give me a platform to possibly implement these ideas. I could see this playing a part in my life using my ability think analytically and solve problems if I were to be hired by the organization. I have an in-depth knowledge of the team and how sports business works which will help me get the experience necessary to land a job.
What are you offering to customers? What I am offering to customers is an experience that will motivate them to buy a ticket to the game rather than watching it at home. This will allow fans to be able to go to the game for a fair price and enjoy their time in the stadium for a fair price as well. The app would improve the experience within the stadium keeping fans engaged and allowing them the most time possible to enjoy the game.
Who are you offering it to? The target audience for this is the casual Bucs fan in the Greater Tampa Bay Area who enjoys going to the games, but does not have the financial means to make a habit out of going. This would appeal to fans individually or with families as they can have much more fun in the stadium without breaking the bank.
Why do they care? Fans will care about this because it will save them money and time. Fans will be able to attend a game and have food drink from the concessions and not feel bad about themselves financially. The app will reduce wait times within the stadium and improve the experience during the game breaks.
What are your core competencies? I would say my passion is what sets me apart from everyone else because no one wants to see the Buccaneers succeed on and off the field more than me. Working for the Buccaneers would not be a job for me and I would do everything in my power to make sure this or anything else would get done for the betterment of the team and organization.
I believe all of these components fit together very well. Sports fans want to see their team succeed so being there to experience the game while saving time and money is very valuable. I am very confident there are many people like me for which this would apply which I know through my peers and those who I have interviewed. I feel who I am and my competencies have given me the insight and desire to hopefully one day be able to satisfy these unmet needs of Bucs fans.
What are you offering to customers? What I am offering to customers is an experience that will motivate them to buy a ticket to the game rather than watching it at home. This will allow fans to be able to go to the game for a fair price and enjoy their time in the stadium for a fair price as well. The app would improve the experience within the stadium keeping fans engaged and allowing them the most time possible to enjoy the game.
Who are you offering it to? The target audience for this is the casual Bucs fan in the Greater Tampa Bay Area who enjoys going to the games, but does not have the financial means to make a habit out of going. This would appeal to fans individually or with families as they can have much more fun in the stadium without breaking the bank.
Why do they care? Fans will care about this because it will save them money and time. Fans will be able to attend a game and have food drink from the concessions and not feel bad about themselves financially. The app will reduce wait times within the stadium and improve the experience during the game breaks.
What are your core competencies? I would say my passion is what sets me apart from everyone else because no one wants to see the Buccaneers succeed on and off the field more than me. Working for the Buccaneers would not be a job for me and I would do everything in my power to make sure this or anything else would get done for the betterment of the team and organization.
I believe all of these components fit together very well. Sports fans want to see their team succeed so being there to experience the game while saving time and money is very valuable. I am very confident there are many people like me for which this would apply which I know through my peers and those who I have interviewed. I feel who I am and my competencies have given me the insight and desire to hopefully one day be able to satisfy these unmet needs of Bucs fans.
Friday, February 14, 2020
9A - Testing the Hypothesis, Part 2
In this post, I will be continuing on with the idea of improving the fan experience within the Buccaneers stadium as a means to selling more tickets. I have interviewed 5 individuals who should have had this unmet, but all of them did not necessarily have it.
The first person I interviewed was a local football coach. He did not really share the unmet need because the game of football for him was enough of a gift that did not feel the fan experience upgrade was a large component of enjoying attending a Bucs game.
The next interviewee was the daughter of a die hard Buccaneers fan who held season tickets for 22 years. When asked about upgrading the fan experience, she seemed very disinterested as she had no interest in football and did not really enjoy the times she went with her father.
The third interviewee was a Tampa bay Lightning employee who was not interested in the fan experience at Raymond James because she preferred hockey over football, but liked the idea of adding those features to Amalie Arena.
The next person I interviewed was a local boy playing peewee football (with the supervision of his guardians) who was a big Bucs fan. He said he thought the pirate ship was the "coolest thing ever" and that nothing could be better about Bucs' games.
The last interviewee was another student wearing a Bucs shirt on campus. When asked about this opportunity, he said he thought it was a good idea, but not a necessity. He said he thought it would be good for both the team and the fans, but he personally did not feel it was necessary and that it would persuade him to buy more tickets.
Conclusion:
Many people share a lot in common, but that does not necessarily dictate the same needs because everyone's lives are very different. The need I have identified is very different for other needs because it is not technically a need as it is not imperative for survival. There is usually a different underlying cause for different needs. Despite their being interest in my idea, I learned that not everyone is completely on board, yet.
The first person I interviewed was a local football coach. He did not really share the unmet need because the game of football for him was enough of a gift that did not feel the fan experience upgrade was a large component of enjoying attending a Bucs game.
The next interviewee was the daughter of a die hard Buccaneers fan who held season tickets for 22 years. When asked about upgrading the fan experience, she seemed very disinterested as she had no interest in football and did not really enjoy the times she went with her father.
The third interviewee was a Tampa bay Lightning employee who was not interested in the fan experience at Raymond James because she preferred hockey over football, but liked the idea of adding those features to Amalie Arena.
The next person I interviewed was a local boy playing peewee football (with the supervision of his guardians) who was a big Bucs fan. He said he thought the pirate ship was the "coolest thing ever" and that nothing could be better about Bucs' games.
The last interviewee was another student wearing a Bucs shirt on campus. When asked about this opportunity, he said he thought it was a good idea, but not a necessity. He said he thought it would be good for both the team and the fans, but he personally did not feel it was necessary and that it would persuade him to buy more tickets.
Conclusion:
Many people share a lot in common, but that does not necessarily dictate the same needs because everyone's lives are very different. The need I have identified is very different for other needs because it is not technically a need as it is not imperative for survival. There is usually a different underlying cause for different needs. Despite their being interest in my idea, I learned that not everyone is completely on board, yet.
Inside the Boundary
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Outside the Boundary
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Who is in
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Who is not
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What the need is
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What the need is not
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Why the need exists
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Alternative explanations
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Friday, February 7, 2020
6A - Identifying Opportunities in Economic & Regulatory Trends
Economic
1 The trade war between the U.S. and China
I found this opportunity on NewsMax. I believe this represents an opportunity because the current relationship between the U.S. and China presents an opportunity for many other countries to improve their trade relations with either country. Also, companies in each country face more difficulties trying to get their products to that foreign market. I think the prototypical customer in this case can simply be the USA or China, but it also could be consumers in each country that rely upon goods from the other. I believe this is a very difficult opportunity to exploit due to all of the politics and many others complicated factors that comprise foreign relations. I believe I saw this opportunity because I studied international economics in high school.
2 Baby Boomers aren't retiring
Regulatory
1 Marijuana legalization could be coming to these states in 2020
I found this information I believe to be an opportunity on Forbes. I believe this to be an opportunity because the legalization of marijuana will allow certain businesses to legally sell the drug while the government is able to tax the revenues. This offers a win-win for the businesses and state governments although it may disrupt the social utility of that state. I think the prototypical customer of this opportunity are marijuana users (medical or recreational) whose cashflow will boost business and increase tax revenue for the state. I think this is relatively difficult opportunity to exploit because it requires the law to be passed in each state which requires consensus from a lot of people. I believe I saw this opportunity because of a speech I heard a peer give in my professional speaking in business course in which he lobbied for the legalization of marijuana, citing the benefits for all parties involved.
2 Proposed laws aimed to reduce opioid abuse
1 The trade war between the U.S. and China
I found this opportunity on NewsMax. I believe this represents an opportunity because the current relationship between the U.S. and China presents an opportunity for many other countries to improve their trade relations with either country. Also, companies in each country face more difficulties trying to get their products to that foreign market. I think the prototypical customer in this case can simply be the USA or China, but it also could be consumers in each country that rely upon goods from the other. I believe this is a very difficult opportunity to exploit due to all of the politics and many others complicated factors that comprise foreign relations. I believe I saw this opportunity because I studied international economics in high school.
2 Baby Boomers aren't retiring
I found this information on the website, The Balance. I believe this represents an opportunity as the older men and women in the workforce are retiring later in the lives which is getting in the way of the younger generations. It presents an issue for the younger men and women in the workforce, but gives companies an advantage. Companies have more leverage against employees as there are ,more in the workplace and there is many with a lot of relevant work experience. Getting an extra 5-10 years out of a reliable employee can be invaluable for a company. I think this a relatively easy easy opportunity to exploit as many boomers are still in the workplace and they can be hired as can anyone else. I believe i saw this opportunity because my dad is a boomer still in the workplace looking for another job.
Regulatory
1 Marijuana legalization could be coming to these states in 2020
I found this information I believe to be an opportunity on Forbes. I believe this to be an opportunity because the legalization of marijuana will allow certain businesses to legally sell the drug while the government is able to tax the revenues. This offers a win-win for the businesses and state governments although it may disrupt the social utility of that state. I think the prototypical customer of this opportunity are marijuana users (medical or recreational) whose cashflow will boost business and increase tax revenue for the state. I think this is relatively difficult opportunity to exploit because it requires the law to be passed in each state which requires consensus from a lot of people. I believe I saw this opportunity because of a speech I heard a peer give in my professional speaking in business course in which he lobbied for the legalization of marijuana, citing the benefits for all parties involved.
2 Proposed laws aimed to reduce opioid abuse
I found this information I thought to be an opportunity on the website for Managed Healthcare Executive. I believe this to be an opportunity because the reduction in opioid abuse that comes with new laws can restore former addicts to serviceable members of the workforce and can also reduce the need for rehabilitation facilities that could be used otherwise. Not only would society improve, but business could thrive as a result of these regulations. I believe this is a difficult opportunity to exploit due to the difficult nature of overcoming addictions. I believe i saw this opportunity because a longtime family friend of my mother was recently admitted to a rehab center for an opioid addiction.
Thursday, February 6, 2020
8A - Solving the Problem
The solution to the opportunity discussed in post 7A is to improve the fan experience by cutting concession prices and creating an in-stadium app that gives up-to-date notifications on lines at concessions or bathrooms, giveaways or drawings, and in-game timeout activities. By doing this, it has the potential to shift the fan culture in the Tampa Bay Area similar to how the Tampa Bay Lightning did 6 years ago. By bringing in fans every game, ticket revenues will rise as well as in-game concession sales as consumers will buy more at a lower price given the already high markup to begin with. This can start a whole domino effect as players in the NFL could want to play in the great city of Tampa if they have devout fans and continue their trend towards success that has already begun. Cutting concession prices has already proven to work in the Atlanta Falcons stadium. An in-stadium app allows fans to stay up to date on stadium facilities and lines and can bring entertainment and rewards to fans using the app. Both of these would make games more appealing to attend which would lead to an increase in revenue for the team and decline in the prevalence of the television deals that dominate the industry.
7A - Testing the Hypothesis, Part 1
The opportunity I will be exploring is how the Tampa Bay Buccaneers football team are unable to consistently sell out the stadium due to the lack of a fan experience and the prevalence of television deals
Who? The Tampa Bay Buccaneers organization
What? Inability to consistently sell out the stadium
Why? Lack of a fan experience in the stadium and the prevalence of television deals
Hypothesis: I believe the improvement of the fan experience within the stadium will attract more fans and create a dynamic fan culture within the city. The buccaneers have not been a successful team really at all in the past 15 years which has had a large effect on fan attendance. Another huge factor affecting fan attendance is the lack of a fan experience in the stadium. What this means is that fans are preferring to watch the game in the comfort of their own home because attending the games does not provide the fan with enough consumer utility for the price they are paying. Creating an exciting fan experience will bring fans to the games which has a large impact on team revenue.
In order to decipher whether this opportunity can be exploited, I conducted five interviews asking about this potential opportunity. The interviewees will remain anonymous out of respect for their privacy.
1 - The first person I interviewed is Buccaneers season ticket holder of 17 years.Upon asking him about the lack of sellout games, he attributed that mostly to the teams lack of success. When I mentioned the idea of the lack of a fan experience, he seemed intrigued, but did not seem to care as the football is all that matters to him. He did add that making the games cheaper and adding amenities to the stadium would most likely bolster ticket sales and "hopefully get us back in the playoffs"
2 - The next person I interviewed was that man's wife. Despite her husband having season tickets for 17 years, she has only been to 2 games. She attributed that to her lack of interest in football and how if she wanted to watch the game, she would "rather not pay to sweat the whole game when it's free to watch at home". When asking her if she would join her husband at more games if they fan experience throughout the stadium was improved, she said she would consider, but loves the idea.
3 - The third person I interviewed was a Buccaneers fan living a few towns away from Tampa. He was a big Bucs fan, but said he did not go to as many games as he wish he could because it was "too much money to drive that far". He added that going to games the previous times he had were underwhelming due to the expense for food and drink in the stadium, the humid heat, and lack of intrigue, especially when the Bucs were losing. He was doubtful of the feasibility of the idea of upgrading the fan experience, but was almost begging for it to happen so he would want to go to more games.
4 - The fourth person who I interviewed was the mover employed by the Buccaneers to move their equipment for away games. Since he has free tickets to every home game with VIP access, he did not see the need for upgrading the fan experience, but he did say he would like to see more fans attend the game so if that would do it, he would be all for it.
5 - The last person I interviewed was a UF student wearing a Buccaneers shirt on Campus. She said her dad has always been a huge fan and she loved going to the games with him when she was younger. Bucs' games for her represented some of the best moments of her childhood so she did not think there was a need for upgrading the fan experience. She did add it obviously could not hurt to add more to the fan experience and that her memories could be a little biased due to it having been 7 years since she has actually attended a game in Raymond James Stadium.
In conclusion, I've learned that others share my notion that upgrading the fan experience in the Buccaneers stadium would be a good idea to attract more fans to come to games. One thing I would say I learned from the interviews is that people do not have nearly as much interest in something if it does not directly impact their lives.
Who? The Tampa Bay Buccaneers organization
What? Inability to consistently sell out the stadium
Why? Lack of a fan experience in the stadium and the prevalence of television deals
Hypothesis: I believe the improvement of the fan experience within the stadium will attract more fans and create a dynamic fan culture within the city. The buccaneers have not been a successful team really at all in the past 15 years which has had a large effect on fan attendance. Another huge factor affecting fan attendance is the lack of a fan experience in the stadium. What this means is that fans are preferring to watch the game in the comfort of their own home because attending the games does not provide the fan with enough consumer utility for the price they are paying. Creating an exciting fan experience will bring fans to the games which has a large impact on team revenue.
In order to decipher whether this opportunity can be exploited, I conducted five interviews asking about this potential opportunity. The interviewees will remain anonymous out of respect for their privacy.
1 - The first person I interviewed is Buccaneers season ticket holder of 17 years.Upon asking him about the lack of sellout games, he attributed that mostly to the teams lack of success. When I mentioned the idea of the lack of a fan experience, he seemed intrigued, but did not seem to care as the football is all that matters to him. He did add that making the games cheaper and adding amenities to the stadium would most likely bolster ticket sales and "hopefully get us back in the playoffs"
2 - The next person I interviewed was that man's wife. Despite her husband having season tickets for 17 years, she has only been to 2 games. She attributed that to her lack of interest in football and how if she wanted to watch the game, she would "rather not pay to sweat the whole game when it's free to watch at home". When asking her if she would join her husband at more games if they fan experience throughout the stadium was improved, she said she would consider, but loves the idea.
3 - The third person I interviewed was a Buccaneers fan living a few towns away from Tampa. He was a big Bucs fan, but said he did not go to as many games as he wish he could because it was "too much money to drive that far". He added that going to games the previous times he had were underwhelming due to the expense for food and drink in the stadium, the humid heat, and lack of intrigue, especially when the Bucs were losing. He was doubtful of the feasibility of the idea of upgrading the fan experience, but was almost begging for it to happen so he would want to go to more games.
4 - The fourth person who I interviewed was the mover employed by the Buccaneers to move their equipment for away games. Since he has free tickets to every home game with VIP access, he did not see the need for upgrading the fan experience, but he did say he would like to see more fans attend the game so if that would do it, he would be all for it.
5 - The last person I interviewed was a UF student wearing a Buccaneers shirt on Campus. She said her dad has always been a huge fan and she loved going to the games with him when she was younger. Bucs' games for her represented some of the best moments of her childhood so she did not think there was a need for upgrading the fan experience. She did add it obviously could not hurt to add more to the fan experience and that her memories could be a little biased due to it having been 7 years since she has actually attended a game in Raymond James Stadium.
In conclusion, I've learned that others share my notion that upgrading the fan experience in the Buccaneers stadium would be a good idea to attract more fans to come to games. One thing I would say I learned from the interviews is that people do not have nearly as much interest in something if it does not directly impact their lives.
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