team chester final process book_67657 v2.1

Team Chester Final Process Book F67657BUS 480: Strategic Management & Design Thinking for the Next Economy

Malachi Gibson, Ricardo Gradilla, Anthony Thurston, Lena Tunkers, Moses Yao

4/27/2015

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Table of ContentsSection 1: Articulating the Context................................................................................................................2

Section 2a: Secondary Research....................................................................................................................4

NAICS Code/5 Forces Analysis................................................................................................................5

Competitive Analysis.................................................................................................................................5

Market Analysis.........................................................................................................................................6

Trend Analysis...........................................................................................................................................7

SWOT Analysis.........................................................................................................................................8

Section 2b: Primary Research......................................................................................................................10

Section 3: Defining Your Offering..............................................................................................................13

Name of Venture......................................................................................................................................13

Elevator Pitch...........................................................................................................................................13

Section 4: Business Templates.....................................................................................................................14

Value Proposition.....................................................................................................................................14

Draft 1: Business Model Canvas..............................................................................................................14

Section 5: Pivot!...........................................................................................................................................15

Section 6a & b: Vision & Mission Statements............................................................................................17

Vision Statement......................................................................................................................................17

Mission Statement....................................................................................................................................17

Section 7: Our Story.....................................................................................................................................18

Section 8: Branding & Prototype.................................................................................................................20

Brand Personality.....................................................................................................................................20

Service......................................................................................................................................................21

Section 9: The Final Business Model Canvas..............................................................................................23

Section 10: References.................................................................................................................................24

Section 11: Appendix...................................................................................................................................25

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Section 1: Articulating the Context

It is well known that the United States is a “wasteful” country. But just how wasteful are we?

According to (http://public.wsu.edu ) Americans constitute 5% of the world's population but

consume 24% of the world's energy. On average, one American consumes as much energy as:

o 2 Japanese

o 6 Mexicans

o 13 Chinese

o 31 Indians

o 128 Bangladeshis

o 307 Tanzanians

o 370 Ethiopians

The U.S. population is projected to increase by nearly 130 million people - the equivalent of

adding another four states the size of California - by the year 2050. This rate of energy

consumption cannot be maintained. Our venture will aim to solve how to reduce the average

amount of energy consumption the American household uses on a daily basis.

Based on the World Bank Development Indicators the world’s richest 20% consume over 75% of

the yearly household energy consumption. This will be our target market. Our objective will be

to reserve resources, offer climate protection and cost savings, while the users still has permanent

access to the energy they need. We will launch initially in hardware and technology stores the

United States’ most wealthy areas. Our venture will also have a virtual market launch on

Amazon. The goal will be to raise the awareness about our product and services to the country’s

wealthiest individuals and households. We will entice them by offering to lower their energy

http://public.wsu.edu/

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bills and by the GREEN aspect of our services. Our product will be integrated into all forms of

energy consuming devices (switches, power outlets, bulbs, televisions, etc.) and be able to

communicate with the utility supply company in order to effectively balance power

generation and energy usage. Our devices would also offer the opportunity for users to remotely

control their devices, or centrally manage them via a cloud based interface, and enable advanced

functions like scheduling, remotely powering on or off heating systems, controlling ovens, and

changing lighting conditions. (http://en.wikipedia.org/wiki/Internet_of_Things)

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Section 2a: Secondary Research

We have decided to focus on energy consumption within wealthy households. We came to this

decision based on the fact that the World Bank Development Indicators the world’s richest 20%

consume over 75% of the yearly household energy consumption. In narrowing our focus even

more we have specifically decided to integrate the IOT into household breaker boxes. We

believe that there is much room for optimization within this product. Breaker boxes control

electricity to almost everything within the home. We want to a way for your smartphone, or other

device, to monitor the energy consumption in each sector of the home controlled by a breaker.

When you see that one area is using more energy consumption than necessary you can simply

switch the breaker off straight from your phone. Also, for breakers that need to be constantly

kept on you can reduce the energy used by the sector instead of completely turning it off. This

“smart breaker box” will be a complex system, meaning that it will learn your habits and monitor

where you use the most energy within the household and start diminishing energy consumption

in other not as frequently utilized parts of the home automatically. In other words the system can

monitor the home’s overall electricity consumption, as well as that of some individual circuits

and devices plugged into wirelessly communicating modules. It can also turn on and off circuits

and the devices plugged into the modules at preprogrammed times or in response to utility

pricing if smart grid services are offered. In addition, current transformers (CTs) measure the

amount of electrical current from the two mains (for whole-house) and individual circuits. The

CTs are also wired to the Smart Load Center near the electrical panel, which sends and receives

wireless signals straight to your smartphone. (greentechadvocates.com)

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NAICS Code/5 Forces Analysis The NAICS code most relevant to our product is 444110 Home Centers. This industry comprises

establishments known as home centers primarily engaged in retailing a general line of new home

repair and improvement materials and supplies, such as lumber, plumbing goods, electrical

goods, tools, housewares, hardware, and lawn and garden supplies, with no one merchandise line

predominating. The merchandise lines are normally arranged in separate departments. The size

standard is $38.5 million, (NAICS.com) meaning that this industry is large and competitive.

However, for our product specifically the competition is somewhat smaller. The suppliers of

these products have considerable amounts of power. Most installed in home by electricians are

bought at large consumer hardware stores and thus infused to the price of the overall work.

However, the price to install a new breaker box, standard not “smart”, is roughly $1000. It is not

easy to enter this market for lower or mid-priced consumers because the main thing driving their

decision is the price point. This is another reason why we have decided to focus on the high end

market because price is not as much of a concern as quality. In terms of substitute products the

only real substitute is the standard breaker box, those with no capabilities to remotely control

energy use. However, these are the ones that come standard in homes after the 1960s.

Competitive AnalysisAs of now there are only a very few companies making “smart breaker boxes”. The most

prominent now is a company by the name of Eaton (http://www.eaton.com). They offer a similar

product priced at about $1000, but their product lacks the capability to control the energy

consumption via a smartphone. This is what differentiates our product from theirs and justifies us

selling our product at a slightly higher price point. Our product size and speed make it a higher

quality product than anything currently on the market. General Electric is another direct

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competitor in the market. They offer a wide array of load centers for residential buildings from

indoor to outdoor enclosures with meters and thermoplastic, but they currently do not offer a

product that can be programmed and controlled by a smartphone or tablet. As a world leader in

technology solutions who does not have a product for the IoT, in this particular market, there is

opportunity to leap ahead of competition and secure our place as the leader in Smart Boxes.

Market AnalysisThe number of firms in the current market is 15,317. The Home Centers industry captures $933

in sales per personal income earning unit within the market area, representing local demand

below US national levels of $1,444. Local industry sales are about 1.4% of gross personal

income, below the US national level of 2.5%. The industry location quotient of 0.65 indicates

market area employment concentrations below the industry employment concentration nationally

(where the US concentration equals 1.00). The market area Home Centers industry transacts

$9,344 in sales per private sector business establishment, representing local demand below US

national levels ($12,971). Locally generated industry sales represent 0.70% of the total volume

of sales generated in the market area by businesses of all types, a 0.71 multiple of the national

average share. Over the 24 month period year-end 2011-2013, 21.0% of US business

establishments in the industry, and 26.4% in its small business segment, ceased independent

operation. By contrast, the cessation rate in the market area was 23.76% industry wide and

38.32% for small businesses. On the new business vitality side of the equation, 11 independent

industry startups and new branch operations were identified in the market area, creating a new

operation rate of 5.91% in the most recent analysis year, less than the national rate of 6.87%.

Unusually low new operation rates can indicate market saturation or lack of perceived

opportunity, while high rates suggest both opportunity and the recognition of it. Due to the

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limited number of new operations at any given time, this indicator is often less useful in small

local market areas. (Bizminer)

Trend Analysis The concept of a smart home, aka home automation, has been around for several decades. With

the advancement of technology, especially mobile devices and the IOT, the practicality of a

smart home is even more of a realistic possibility. Major home-improvement stores such as

Home Depot and Target now have smart home products on their shelves, which means there is

an increasing awareness and acceptance of home automation products. Giant technology firms

such as Apple and Microsoft are also investing heavily in smart home industry, signaling not

only more technological innovation, but also a rising trend in popular culture. Other online stores

provide unique products and solutions, ranging from energy saving to home security. There are

also beginning to be media coverage of smart home products. Many sites, such as CNET and

digitaltrends.com, publish articles about recommendations and reviews of home automation

products, while others predict technological trends in this field. The market revenue forecasts

also seem promising. Some sources predict a CAGR over 29.5% from 2014 - 2020. Based on

these trends, it is likely the home automation market will continue to expend. Major retailers and

other companies’ involvement will further increase customer awareness and buying tendency.

The rising attention of sustainability issues will increase the urgency for energy saving

applications and devices. The concept of internet of things also gives home automation

tremendous potential. The popularity of mobile technology, especially smart-phones and

networks, makes it easier and more convenient for customer to utilize advancement in smart

home technology.

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SWOT AnalysisA “smart breaker box” is an innovative and modern product and yields many strengths. It has a

high performance due to its ability to learn, improve and communicate. The strengths we focus

on and the advantages our customers gain from using our product include maintaining climate

protection and cost savings. As mentioned in the competitor analysis, there are only some firms

which have already sold smart breaker solutions so far. We would be the first one supplying

smart breaker boxes with a mobile communication solution. This would make our product

unique, competitive and rare. Opportunities such as the lack of real competitors and a new field

of utilization of sensors help make it easier to insert our product to the marketplace. Furthermore,

there is an increased trend of following an environmental conscious lifestyle

(environmentalleader). The value of reducing electrical consumption would support this trend

and would push our product into the market. However, it could likewise generate a high risk. If

wealthy end market customers don’t need to reduce their costs and don’t even care about the

environment, that could be the threat of the market we focus on. Also, it could influence the

competitors who sell the standard normal breaker boxes to compete against us.

The biggest weaknesses are the high price and the need to keep the quality of the service at a

high level, besides being impacted by high technical challenges and safety. Furthermore, it is a

new product so we would need to spend a great deal of money to create awareness in the target

market. Certainly, there will be firms who simply copy our product or at least add the mobile

solution to their smart breaker box. We will be ousted from the market as soon as someone

supplies a similar product for a better price. Therefore, the aim should be to set quality and new

innovation as the highest priorities. Additionally, we have to standardize our product. If a new

house is to be built including our smart breaker box solution should become the standard.

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S W- Unique and innovative functions- Innovation- High Quality & Stylish product- Sustainable product

- New start-up with low awareness- Easy-to-imitate products- High R&D cost

O T- Trend to sustainable lifestyle- New Market & Lack of competitors- Other interact-able IoT products- Growing trend of home-automation- Advancement of technology in general

- Wealthy customers don’t care about bill saving- Potential entries- Lack of standard in IoT industry

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Section 2b: Primary Research

For our primary research, we have decided to focus on surveys and interviews. We decided on

these methods because we believe they are the most feasible to receive feedback. Home breaker

boxes are something most adults, especially adult males, have had some contact with in their life.

We hope to get some diversity in our responses, but will mainly focus on the male demographic.

In our surveys, Google Forms will be our channel. We will ask people about their background

knowledge with their current breakers. We will also ask how receptive they would be to utilizing

new technology. We realize that we are going to be marketing primarily to the upper middle and

upper class, but we believe a sample of other income classes may be able to translate to what we

would hear from the upper class population. It will also give us a picture on whether or not this

product has potential for market penetration into new segments in the future. Also in our surveys

we will ask how receptive consumers would be to a breaker box that could automatically

decrease the energy levels in their house based on utilization.

We will attempt to interview upper middle and upper class women and men. We will define

these classes by households making more than $100,000 a year. This is the same methodology

that U.S. news and other business magazines use. Our interview questions will be conversational

so as to allow freedom of though and keep possible responses open-ended. However, we will

work in them telling us about their experiences with their breakers. When do they access it? Is

there anything about it you like? Don’t like? Location of their breaker? How much is their

average electric bill? All of these questions will benefit us in forming a product that is most in

line with what customers from these segments desire.

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The data we retrieved from our survey has given us insight as to what potential customers of our

JUICE BX product think regarding the potential and interests. We have a sample size of 23

respondents with 56.6% of them being either homeowners or renters who pay utility bills. These

next two paragraphs will analyze data obtained from this bill-paying sample from the overall

pool of respondents. 69% of bill-paying respondents were actually unaware of how much energy

was being consumed in their homes, leading to the potential of positioning our product as a

solution to energy consumption awareness.

An unsurprising 92% of bill-paying respondents said they try to minimize the amount

they pay for their energy bills while 85% admit to adopting an energy-saving lifestyle. These

results back up the idea that there are people who want to actively reduce their energy

consumption. All relevant respondents pay less than $180 for their monthly electricity bill which,

compared to the state of Illinois average as of 20131, is a bit higher. The last question asked

about their interest in a product that would help reduce energy consumption and cost and 92%

rated 3 or higher from a 1-5 scale, with 69% rating it a 5. This shows that demand for our

product, amongst those who pay their own utility bills, is there.

This paragraph analyzes peoples’ knowledge on general fuse boxes. 74% of all

respondents expressed that are either somewhat concerned or concerned about privacy with

smart home solutions. Although our product is not intended for converting a home into a smart

home, it may well serve as the backbone to linking, enabling and monitoring all other smart

home appliances. Given the data on peoples’ concern with privacy, we will cater to their needs

with our product. Only 26% of people use their smartphones to remotely control any products or

appliances at home and when asked what else they could control, many items were mentioned

1 http://www.eia.gov/electricity/sales_revenue_price/pdf/table5_a.pdf

http://www.eia.gov/electricity/sales_revenue_price/pdf/table5_a.pdf

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but a fuse box was not, proving that our product is truly unique and something people wouldn’t

expect to be able to control, as do our competitors think. 74% of people also are aware of

standard fuse boxes and what they can do so there should not be a huge learning curve for those

who start to use our product. 57% of respondents admit to have forgotten to turn off electrical

appliances at home from every once in a while (30%) to more often than not (27%).

The last page of questions went into specifics about our product and what it can do for

them. After reading a little about JUICE BX, 95% of respondents admit to be willing to use it,

however they may do so. A surprising 87% of people said that they would actually spend money

to have their own JUICE BX in their home. A solid figure like 87% is statistically significant

and depicts the demand that exists for such a product, however without taking into account

marketing factors such as accessibility and price.

When people were asked about how much they liked the idea of JUICE BX being able

to help track budgeted spending and monitoring real-time bill accrual to be able to track their

energy expenditures, 100% of all respondents expressed interest ranging between a modest to a

great interest! After postulating scenarios where the mobile app aspect of our product could be

useful from remote switching to convenience, 96% of people showed interest with that respect.

Based solely off these last two figures, we can not only tell that people see how JUICE BX can

be of useful help to their lives at home, but more so that people are slightly more interested in

saving money in the long run.

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Section 3: Defining Your Offering

Name of Venture

Elevator PitchOur product will enhance homeowner’s ability to control their home energy consumption, while

simultaneously allowing construction firms to increase the value of newly developed projects.

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Section 4: Business Templates

Value PropositionBuyer to Buyer Buyer to Customer

For: Construction Firms For: HomeownersWho:Construction firms developing smart homes

Who: Consumers who are seeking to reduce electricity consumption and save money on electric bills

We do this by: JUICE BΩX uses software programming to allow management of electricity consumption by connecting breaker boxes with the internet

We do this by: JUICE BΩX uses software programming to allow management of electricity consumption by connecting breaker boxes with the internet

Differentiation:1) Will add value to projects thus enabling the construction firm to charge a premium in residential buildings installed with JUICE BΩX.2) This will allow construction firms to form partnerships with app developers to enhance the experience with JUICE BΩX

Differentiation:1) Unlike traditional fuse boxes JUICE BΩX grants you full control of your home’s power from anywhere. Including your Smartphone2) Our JUICE BΩX can connect with weather service centers to automatically set your in home appliances and heat/air to optimal efficiency levels (Temperature preferences can be preset by the user)

Draft 1: Business Model Canvas

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Section 5: Pivot!

Our startup has changed through the research process and based on feedback from the class. We

determined that our product could be slightly more related to the internet of things. For that

reason we have decided to incorporate the ability of our product to connect with the National

Weather Center. This will allow JUICE BΩX to automatically set your home’s thermostat and

other appliances to levels that will be optimal in terms of energy consumption. However, we are

not cutting the ability for the user to manually control the system as well. Features that involve

automation and sensors can be adjusted in settings in case someone, for example, has to leave the

house on a business trip or vacation. In this case the feature can be turned off and replaced with a

“Not Home” mode to allow minimizing consumption. This dual functionality will make JUICE

BΩX an even more valuable tool. Additionally, JUICE BΩX will be able to be programmed

with other applications through their API. An example of this may be a JUICE BΩX pairing with

Pandora. The user will be able to control in home energy levels as well as control the music in

their speakers in an all-encompassing way. This will open to the door for construction firms to

partner with app designers thus increasing the value they receive from the product.

Aside from this, much of the energy waste is due to people leaving the appliances on/plugged

when falling asleep or leaving the house. Our JUICE BΩX allows user to connect their

wristbands or smart-phones, so that when the user falls asleep or leaves the house, the JUICE

BΩX will know to turn off certain appliances.

Our researched has shown that there is not a product on the market quite like ours. We believe

with effective marketing there will be JUICE BΩX within every upper middle and upper class

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American home. We hope that that can be extended to EVERY home within the foreseeable

future.

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Section 6a & b: Vision & Mission Statements

Vision StatementIn the next 10 years, JUICE BΩX will revolutionize energy management for exciting residential

homes while simultaneously opening the door for home construction firms to create additional

value in their projects.

Mission StatementJUICE BΩX’s mission is to be the preferred partner of home owners and residential construction

firms, by setting the standard for in-home energy management. We do this by providing

customers with unparalleled real time consumption statistics and other valuable information. Our

customers will take control back from utility companies and help create a more sustainable living

environment.

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Section 7: Our Story

Meet Michael Black. He is a 42 year old Senior Consultant with a wife a 15 year old girl and a

12 year old boy. Michael lives in Baltimore, Maryland and pays on average $156 per month on

his electric bill. Maryland happens to have the second highest electricity rates of any state in the

US. His two kids love to watch television and often leave their set and lights on, even after

leaving the room. His wife is a stay at home mom who loves to cook. She often leaves kitchen

appliances on, or sets them at energy consumption levels higher than necessary.

Michael is looking for a way to reduce his bills. Michael and his wife are considering moving

because they pay just too much for utilities. However, their kids love their school and current

friends and they know a move would be tough on them. Michael had heard about “Smart Homes”

and “Smart Appliances” but had never seriously considered updating his 25 year old home with

any of this latest technology. It wasn’t until Michael received a phone call from a sales

representative at JUICE BΩX did he really consider the idea.

Michael was asked if he wanted a way to gain control back from his utility provider. Of course

that peeked his interest. When he asked for more information, the JUICE BΩX representative

detailed exactly how much he could save per month by installing a new fuse box. It would also

grant him control of all of his home’s utilities even on the go. The part that really sweetened the

deal was that JUICE BΩX offered a lifetime warranty and a money back guarantee if there

wasn’t a reduction in energy bills within the very first month!

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Now, Michael pays a mere $95 per month on his electric bill. He raves about JUICE BΩX to his

family, friends and colleagues. He and his wife can continue staying in the home and city they

love, and his kids don’t have to make an unwanted move. This is all possible from making the

switch to JUICE BΩX: because at JUICE BΩX, customer satisfaction is the number one priority.

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Section 8: Branding & Prototype

Font: Optima, 18

Controlled Clear Concise

Color: Green, 72F009

Environmental, natural Fresh, innovated Adaptation to surrounding (weather, temperatures)

Symbol (released in presentation):

Omega = electrical resistance Bulb = energy consumption Outer circle = the whole picture (whole house/connection between house and surrounding) IE 5010 = power on-off symbol (line with a circle) devices switch between states

As an energy management device, JUICE BΩX offers convenience, sustainability, and economical

savings as its most distinguishable features. It offers a number of functions that enables users to take

control back from utility companies and help create a more sustainable living environment. It will be a

model of standard for home energy management, and thus be the first choice of construction firms.

Our two target customer segments are the middle and upper class home owners and construction firms.

The product is designed especially in order to meet the needs and wants of the users.

Brand Personality Convenience: One major need of the smart home customer is convenience. Like any standard home

automation device, JUICE BΩX offers the remote control function for home appliances. Unlike most

similar that still uses remote controllers (which are usually hard to find), JUICE BΩX features a mobile

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app that achieves the same function, and offers much more. Customers can use the app anywhere with

internet connection to control JUICE BΩX.

Economical & Sustainable: Our customers also have strong incentive for a reduction in electricity bill.

While the awareness of sustainability issues is growing, protecting the environment has become a

lifestyle. Many customers will choose sustainable products, which are, in our industry, the efficient

products. JUICE BΩX is designed perfectly to satisfy both. It has several functions working together to

achieve such goal. It uses the pricing policy to make optimal plan of electricity usage based on the time-

based-pricing of the local electricity company. Also, it connects with other devices such as smartphones

and wearables to automatically/manually turn off or cut power certain home appliances. All these

functions together will satisfy the customers’ needs to save money and boost efficiency.

Empowered: JUICE BΩX is also designed to satisfy the emotional needs of the customers. JUICE

BΩX’s features will make customers feel empowered by our technology. Unlike many electronic

products that require much relevant knowledge to operate, our extremely user-friendly product will make

sure that every customer can exploit JUICE BΩX to 100% of its potential, regardless of their skills with

technology. Instead of feeling confused and ignorant, customers can feel they are empowered that they

have full control of their home.

Premium: The innovative and unique features will also make customers feel a sense of premium. R&D is

constantly emphasized for our product so that it always offers functions that others do not have. Our

customers will have the feeling that they are the elite, the wise ones who chose the best product available.

The aesthetic design and packaging of our product will reinforce such feeling. There will be a number of

designs to satisfy different style of homes, but regardless of the style, the product will always give an

expensive impression. The packaging will also be very well designed with good quality, to match the

image of our product.

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ServiceTrust & Transparency: In terms of service, we will also work on establishing trust and transparency.

Customers should always be aware of where the data is going. Besides the term of agreement, if the app

sends out any data, it should notify the customer of what the data is and where the data is going.

Customers should be able to review data in an understandable way so they can decide whether if he

should allow it to be sent. Our lifetime warranty will also let the customers be sure that the quality of our

product can be trusted.

Convenient: Convenience also a feature of the service we provide. The product should be available in

most major hardware/home-improvement stores and online retailers, as well as our own online

distribution channel. We provide free installation with any purchase of our product.

We also provide 24/7 technical support and emergency services. The customer should be able to reach us

for help at any given time of the day. This is not only about convenience and quality, but also an

emotional support. Whenever anything goes wrong with our product, or they do not understand what is

going on, they should always feel they are always supported by us, and form a family-like emotional bond

with our brand.

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Section 9: The Final Business Model Canvas

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Section 10: References2013 Average Monthly Bill- Residentia. (2014). Retrieved from U.S. Energy Infomration Administration:

http://www.eia.gov/electricity/sales_revenue_price/pdf/table5_a.pdf

Bizminer. (2014, December 1). Industry Financial Report. Retrieved from Bizminer: http://www.bizminer.com/reports/samples/industry-financial.pdf

Brennan, M. (2013, October 10). House Of The Future: How. Retrieved from FORBES Magazine: https://drive.google.com/drive/#folders/0B8sFUgAFgA7ffkFMR1ByUHlDN0t2SjhiRUxnSlNmSmtzQ1VfcDViWDJEdnVLMmozWkkyenM

Castle, S. (2011, September 14). Eaton’s Smart Energy Management Could Be a Mid-Market Winner. Retrieved from GreenTech Advocates: http://greentechadvocates.com/2011/09/14/eatons-smart-energy-management-could-be-a-mid-market-winner/

ComEd. (2014). Meet Our Smart Home Showcase Winners. Retrieved from ComEd Official Website: https://www.comed.com/technology/smart-meter-smart-grid/see-for-yourself/smart-home-showcase/Pages/default.aspx

Environmental Leader. (2008, March 16). Trends in Consumer Actions to Protect the Environment. Retrieved from Environmental Leader: http://www.environmentalleader.com/2008/03/16/trends-in-consumer-actions-to-protect-the-environment/?graph=full

Goldman Sachs. (2014, September 3). The Internet of Things: making Sense of the Next Mega-Trend. Retrieved from IoT Primer: https://drive.google.com/drive/#folders/0B8sFUgAFgA7ffkFMR1ByUHlDN0t2SjhiRUxnSlNmSmtzQ1VfcDViWDJEdnVLMmozWkkyenM

Griffith, E. (2014, December 4). How To Invest in the Internet of Things. FORTUNE Magazine, pp. 112-116.

Hassan, Q. F. (2011, February). Demystifying Cloud Computing. Retrieved from http://static1.1.sqspcdn.com/static/f/702523/10181434/1294788395300/201101-Hassan.pdf?token=z8xbbhdut3YghlShdMIfxlMNx48%3D

North American Industry Classification System Codes. (2012, January 1). Table of Small Business Size Standards. Retrieved from U.S. Small business Administration: http://www.naics.com/naicswp2014/wp-content/uploads/2014/10/2014-Size_Standards_Table.pdf

Postscapes. (2015, February 5). WiFi Home Energy Monitor: Neurio. Retrieved from Postscapes: https://drive.google.com/drive/#folders/0B8sFUgAFgA7ffkFMR1ByUHlDN0t2SjhiRUxnSlNmSmtzQ1VfcDViWDJEdnVLMmozWkkyenM

Wood, A. (2015, March 31). The internet of things is revolutionising our lives, but standards are a must. Retrieved from The Guardian: http://www.theguardian.com/media-network/2015/mar/31/the-

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internet-of-things-is-revolutionising-our-lives-but-standards-are-a-must

Section 11: Appendix

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