Individual research: An opportunity for further learning that many students at Simpson take advantage of.
Senior accounting major Molly Hill can be counted among this group. Molly was looking for an independent study option to get to the 150 credit hour total required for the CPA exam. While talking with her advisor, Professor Juffernbruch, the LNR project in the Emerge@Simpson business incubator was suggested as a potential option. She would be able to earn credit for independent research and take part in a developing business. LNR is an innovative pavement marketing system that was brought to Emerge for business development. The technology had been tested, but as a business venture, it needed some work.
“I was doing research about the pricing strategy. They needed to know the lowest price they could sell the product and remain competitive in the market”
With her background in accounting and in particular her cost accounting work, she got started doing research in the field of concrete striping.
“I was given DOT contract data from the state of Illinois, and I researched Iowa contracts to compare and determine average cost per foot of striping.”
Comparing information from DOT contracts from surrounding Midwest states, Molly was able to find the price point at which LNR can be sold profitably and compete with the other commercial option available: paint striping. The project allowed Molly to apply previously learned knowledge and to develop new skills in statistical analysis.
Like many students who become involved with Emerge, Molly was at first overwhelmed by the project. There is a huge question, but how to get to the answer? Through conversations with Emerge director, Chris Draper, and with Professor Juffernbruch, Molly developed her research plan of how to break the project down into smaller component parts. As fall semester is drawing to a close, Molly is continuing to work on the project, verifying her calculations, and will be able to present her data to the LNR team.
With her excellent academic background and this research experience, we’re certain Molly will find a successful career in her future!