MBA FPX 5910 Assessment 1 Capstone Project Summary

• • MBA FPX 5910 Assessment 1

  Introduction

  Diamond Parking, established in 1922 by Josef Diamond, is the world’s oldest parking company. Based in Seattle, Washington, this family-owned multinational corporation manages over 1,900 diverse parking facilities across the Western United States and Canada (Who We Are, n.d.). As environmental and economic factors push more consumers toward electric vehicles (EVs), the demand for EV charging infrastructure has grown significantly. According to a study published in Transportation Research, “Underdeveloped charging infrastructure is one of the main barriers to widespread electric vehicle (EV) adoption. Transforming parking lots into EV-enabled parking lots that provide parking and charging services is a solution to address the need for charging stations” (Babic et al., 2022, p. 1).

  In MBA FPX 5910 Assessment 1, my capstone project explores how Diamond Parking can capitalize on this trend. Leveraging their recent partnership with ParkMobile, a tech-driven parking payment and location solution, I plan to demonstrate how Diamond Parking can integrate premium parking and EV charging services to remain competitive and innovative in this evolving market.

  Statement of Scope

  The scope of my project is to conduct a thorough organizational and financial analysis of Diamond Parking LLC. The capstone will detail a strategic plan for the company to successfully enter the EV charging market. This plan will include:

  • Evaluating the benefits and risks associated with this expansion.
  • Outlining the financial and operational costs of implementing EV-enabled parking solutions.
  • Identifying potential revenue streams and long-term profitability.

  By analyzing Diamond Parking’s current operations, I aim to provide a roadmap that positions the company as a leader in premium parking and charging solutions.

  Accessibility of Data

  Collecting relevant data for MBA FPX 5910 Assessment 1 involves several sources and strategies. Since Diamond Parking is not publicly traded, accessing detailed financial information may present challenges. To overcome this, I will rely on the following:

  1. Primary Sources: Diamond Parking’s official website and government filings.
  2. Secondary Sources: Trusted business publications like The Wall Street Journal and Forbes.
  3. Capella University Library: Academic papers and peer-reviewed journals for additional insights.
  4. EV Market Research: Government reports, trade publications, and academic studies will provide context on market trends and infrastructure needs.

  I will analyze financial data using Microsoft Excel to assess profitability trends and corporate leverage. Analytical tools like PESTEL, VUCA, and SWOT will be employed to examine internal and external factors impacting the company’s potential entry into the EV charging market.

  Demonstration of Outcomes

  This capstone project will showcase my ability to apply key MBA program outcomes, including:

  • Strategic Thinking: Developing a viable plan for Diamond Parking’s entry into the EV charging sector.
  • Financial Acumen: Conducting a detailed financial analysis to evaluate risks, costs, and profitability.
  • Analytical Skills: Leveraging frameworks like SWOT and PESTEL to assess the company’s competitive position.
  • Innovation and Problem-Solving: Identifying unique opportunities for growth and mitigating potential challenges.

  The project will reflect my readiness to tackle complex business challenges and deliver actionable solutions.

  Program Outcome	Method of Demonstration
  Apply foundational knowledge and an understanding of business systems, processes, and technology within and across core disciplines.	I will evaluate financial and market data and perform a PESTEL, SWOT, and VUCA analysis. A financial condition study and stakeholder effect analysis will be executed. The company is private, so a stock valuation will be attempted.
  Integrate information across disciplines and from differing perspectives.	I will analyze the current and projected EV markets. The integration of various technologies, including the partnership of ParkMobile and other similar technologies, will be examined. The project is international, so I will also investigate the impact.
  Think critically and analytically to provide evidence-based solutions to business challenges and opportunities.	The impact of government EV subsidies and their effect on markets will be considered. I will also investigate competitors and the financial stability of partners and vendors.
  Apply innovative, strategic, and sustainable approaches to business practice and planning.	Strategic methods and sustainable approaches will be applied to evaluate business practices, considering market trends, competitive strategies, and resource optimization.
  Lead and collaborate in virtual, global, and culturally diverse environments.	This project’s expansion into Canada and Mexico will be analyzed. I will investigate the cultural, economic, and monetary exchange implications. Other factors, such as political stability and global issues, will also be included.
  Integrate principles of ethics and integrity into business decisions.	Diamond corporate culture and decision-making methods will be investigated to ensure ethical considerations and integrity are maintained.
  Communicate clearly and effectively in a business environment.	The document will be written clearly and logically, using correct grammar and syntax to ensure effective communication in the business context.

  Conclusion

  The capstone for MBA FPX 5910 Assessment 1 will illustrate how Diamond Parking can strategically invest in EV charging stations to meet growing consumer demand while staying competitive. By analyzing the company’s financial position, organizational structure, and business model, I will provide a comprehensive plan that addresses risks, identifies opportunities, and outlines steps to secure a foothold in this lucrative market.

  This assessment will demonstrate the viability of this investment and highlight my ability to apply MBA program competencies to real-world business scenarios. Through detailed research and innovative thinking, I aim to present a roadmap for Diamond Parking’s success in the EV charging sector.

  Reference

Babic, J., Carvalho, A., Ketter, W., & Podobnik, V. (2022). A data-driven approach to managing electric vehicle charging infrastructure in parking lots. ScienceDirect. Retrieved from https://pdf.sciencedirectassets.com

Diamond Parking Services, LLC. (2022). Hoover’s Company Records. Retrieved from https://www-proquestcom.library.capella.edu/docview/1860783737?pq-origsite=summon

Feuer, W. (2022, September 27). Hertz, BP partner to bring EV charging stations across North America. The Wall Street Journal. Retrieved from
https://www.wsj.com/articles/hertz-bp-to-providecharging-stations-for-electric-rental-cars-11664281340?mod=Searchresults_pos1&page=1

NASDAQ OMX’s News Release Distribution Channel. (2022). Parking lots and garages global market report 2022: Major players in the parking lots and garages market include SP Plus Corporation, LAZ Parking Ltd. LLC, ABM Industries Inc, Ace Parking Management Inc, Diamond Parking, Lanier Parking, TPS Parking, Impark, Indigo, Park24, and Wilson Parking. Retrieved from
https://www-proquestcom.library.capella.edu/docview/2628951324?pq-origsite=summon

Who we are. (n.d.). Diamondparking.com. Retrieved from
https://www.diamondparking.com/about-us/who-we-are/