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Innovation and Entreprenureship

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Latika Vyas
Latika Vyas

New product development idea. It is a primary research work underlying all aspects required by any company to start up.

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Business Plan Executive summary Our companys primary aim is focused to bring a revolutionary product for all types of vehicles that has windshields and windows to protect the vehicles from heat, dust, snow, rain and hailstorm damages. Shield will protect all the wind shields from various natural damages and save a lot of money of the vehicle owners. The following report will explains the business plan for the company which suggests opening various installation centers across Australia. The report will reflect upon the R&D, usage and industry penetration of the product, and how it will be a revolutionary in nature. It will also reflect upon several features of the business that will be provided to all the users and how it will be a single cost effective solution for several problems. The report will also highlight the competition, marketing and installation of the product, whereas with less competition this product will assess the targeted customers not limiting to car owners but for every four vehicle owners. This report will be assessing on the business structure, business services, models, action plan, cooperative advantage, market plan and increasing customer base, promotion strategies, financial plans, exit strategies and the critical risks and rewards associated with it.
Company overview Our Vision: Shield is committed to improve the safety measures and protect the vehicles from Heat, Dust, Rain, snow and Hail Damages by using the automation techniques. Our primary focus is to reduce the number of damages that happen to the vehicles and reaching the target of zero damages. Our Mission Statement: We aim to reduce the number of accidents and damages for all the automobile Industry. We help you to survive your TODAY So that, you can have a better TOMORROW. Our Strategies: Primary target is the Australian continent, there are more than 18 Million vehicles across Australia and we aim to implement this on every vehicle. Expanding it internationally spreading it across continents. Our goals for the business: To generate sales value of more than $5 million in the first year. For each unit we install we would be getting 20% net profit in the initial year and increase up to 40% over five years time. We will be entering into the public listed companies within 5 years by 2024. We endeavor to manufacture our own products instead of procuring and outsourcing them from outside and plan to start our manufacturing by the 3rd year What differentiates our business? Our business solution is new, reliable, cost effective and sustainable too. There is no competition for us. It is a revolutionary product.
Business Description The Shield will provide the revolutionary solution to all the car owners, which will protect car from dust, heat, snowfall and hail at parking position. This product is useful for every vehicle owners, because they all have one basic problem of heat after parking car under sun. Generally people use silver coating sheet to cover front wind shield of car after parking, to protect it from heat. Australia is a diverse country in terms of seasons including hot summer; hail and heavy rain all at the same time at different regions, whereas our product will be capable of solving all such problems at same time. The business is a unique idea and very profitable if implemented as structured. The various aspect of pricing differentiation for different model of cars or other vehicle will help business to serve all vehicle owners. This product will be capable of protecting car while on parking conditions, and the major feature will be heat protection for all six wind shields of vehicles; whereas a car owner does not have to be investing extra time for putting and removing spear shield. Our product will protect windows from dust and rain as well, customers does not have to be worries to clean windows and go out, our product will make it lets go for any car and customers. The access of car will be really easy in any sunny or hail days, and will save a lot of money of repairs. We will develop our R&D at State of the arts research centre and involving government assistance for developing it in more cost effective way. We will be setting up own Shield cubes at different workshops and places across Australia. Product and services The product service will be providing long term solution for their vehicles. It will provide a relief from sudden rain, heavy hail, dust and exclusively from sunlight. Sunlight damages car In numerous ways, damaging car leather, store heat and create suffocation, damaging wind shields and wipers; sunlight make it difficult for a traveler to sit and wait in sunlight or to leave pets in car or any belongings. Our product will be a one solution for many problems we face in normal lives. People love travelling in Australia and there is a major sunlight issues due to imbalance in ozone layer which has adverse affects to people and property. Our product is new, reliable, and cost effective, as well as it has lets go factor for users. It will be operated by car keys similar to other features like operating car boot, open and closing car windows. Out product will be installed in beading of car which will give cars a smart look, our product has a usp of customization which resolves all the hesitation of a customer to install our product or not.
Apart from this our product will be having service station, and comes with two years of warranty. It is not limited to cars; we design our product for commercial trucks, buses and other logistic travelers to protect their wind shields. Industry it is very important for any business to build connecting blocks for each activity included in a business. To have a business model examines operational, strategic and marketing management. Being a new and revolutionary product our company feels its important to penetrate market in a correct way with correct plan, to make it more effective and efficient. (Osterwalder) Our company is entering in automobile accessory with a different product which has nothing similar existing but has other substitute products which only protects from sunlight not for other climatic damages. There are different manual windshield covers available in market at very low prices like snow windshield, sun protecting windshield, hail protecting windshield available at target, Kmart, supercheap and many more. Our competition will be with government research institutions which may be or may have been thinking to research and develop such product. Macro Business Analysis Strength Its a revolutionary product It has no direct competition in market. It is automated and easy to use technology. It creates a style statement. It is cost effective. It has multiple damage protection capacity from rain, heat, hail and dust. It can be used by any vehicle owners. It creates a new market segment. It gives rise employment and R&D department. It has multiple uses. Weakness It may be able to take time to develop a new market. It can be opposed by other substitute product companies and car manufacturers. It can have technical fault at initial stage. It will require high research and development team and resources. Opportunities It gives rise to new market segment. It can tie-up with car manufacturing companies. Threats Substitute products which are sold at very low prices. Government research institutions Brand recognition challenges.
It can have multiple installation cubes at workshops. It will be a revolutionary product, which will give rise to a monopoly and high profit earning capacity. It has capacity to go global and enter into international market. Partnership with dealers and governments. P.E.S.T.L.E Political: Seeking government support for research and development incubators. Economic: Business gives rise to high employment and research team. Social: it has a lot of social benefits regarding health, give relief from expenses from such damages. Our product gives easy to use and lets go attitude to consumers. Technological: our product will be made of thinnest material which has capacity to control dust, rain, hail and heat damages. It will be automated and will be used at parked cars. Legal: it will be approved by health and safety law and product will be developed according to consumer law. Environmental: Our product will be 100% eco-friendly because it will procure and protect vehicles from environmental climatic damages. Industry Trends It is quite relevant to grow our market in Australia rapidly because of high sales of cars and other vehicles. In 2017 automobile sales was increased by 1.118 million. (Industries, 2017) In 2017, there have been more than 12000 insurance claims were lodged worth $31 million in Sydney; affected by hail. (News, 2017) There are different manual windshields available in market which resolves one problem, but our product is multipurpose damage protective. Competitive Advantage The company has pitched a business plan which is suitable for all the car owners and four vehicle owners. The company will have an competitive advantage because there is no such product available at present and other available substitute products are not
they effective nor they are much reliable. This product will be cost effective which a person can afford than to replace all windshields of car. This product is suitable for all the car owners, logistic vehicle and other vehicles which have windshields. Our product is different from any other product because we have revolutionary solution which is customized according to the shape and size of the car, which gives a smart invisible look to car. We feel our customer is focused on smart looking protector as well as effective product, which they can get from The Shield. Consumers can save time by pressing one switch on their key controller and the shield will cover all the windshields of car; it is automated. Consumers can go on trips, outing or anywhere parking car outside house and not worrying about any damages. Consumers can park car outside at sun or rain at office hours, leave there pet inside for quick shopping, can leave there belongings inside car; as after shield no one can see what is inside the parked car. Staffing and Training "Hiring the right people-;and training them well-;can often mean the difference between scratching out the barest of livelihoods and steady business growth'側. Personnel problems do not discriminate between small and big business. You find them in all businesses, regardless of size." (Burstiner, 1997) To hire right person for the right job is called staffing. It is very important for any business to have effective, skilled and updated human resource that can do the right job at the right time. Engineers will be hired by recruiting agency and junior researcher and engineers will be hired from campuses. Our company wants to give chance to new and old candidates who can fit for the job. Having mixed human resource will make our business more energetic and work effective. We will have top level management from former existing posts who can lead our business to success, one president and two vice presidents. Our middle level management will be hired from recruitment agencies and direct contacts or university recruitments that have bit of experience in management and quality control. We will have a follow-up system in our management of staffing and training where we will be giving and taking feedback from employees and have follow- up on those changes. Being a new and revolutionary product our company is focused on perfection and cost efficiency so our product servers the best of its utility. The low level management and labours will be hired by advertisement on websites and newspapers. All the employees working in company will be having a background check and police check, the all will undergo three step interview levels, because our product is technical and we need right person who have a basic knowledge of assembling, designing, connecting and storing.
Operation manager will control all the activities happening around and he will be responsible for all the activities done by employees who are being supervised under him. There will be a proper training to new staff and employed members of the company. We will hire employees with excellent English proficiency in writing and speaking. Training with be provided for 30-days and then employees will be under two months probation and if they fit perfect to the role they will be hired as permanent.

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Innovation and Entreprenureship

  • 1. Business Plan Executive summary Our companys primary aim is focused to bring a revolutionary product for all types of vehicles that has windshields and windows to protect the vehicles from heat, dust, snow, rain and hailstorm damages. Shield will protect all the wind shields from various natural damages and save a lot of money of the vehicle owners. The following report will explains the business plan for the company which suggests opening various installation centers across Australia. The report will reflect upon the R&D, usage and industry penetration of the product, and how it will be a revolutionary in nature. It will also reflect upon several features of the business that will be provided to all the users and how it will be a single cost effective solution for several problems. The report will also highlight the competition, marketing and installation of the product, whereas with less competition this product will assess the targeted customers not limiting to car owners but for every four vehicle owners. This report will be assessing on the business structure, business services, models, action plan, cooperative advantage, market plan and increasing customer base, promotion strategies, financial plans, exit strategies and the critical risks and rewards associated with it.
  • 2. Company overview Our Vision: Shield is committed to improve the safety measures and protect the vehicles from Heat, Dust, Rain, snow and Hail Damages by using the automation techniques. Our primary focus is to reduce the number of damages that happen to the vehicles and reaching the target of zero damages. Our Mission Statement: We aim to reduce the number of accidents and damages for all the automobile Industry. We help you to survive your TODAY So that, you can have a better TOMORROW. Our Strategies: Primary target is the Australian continent, there are more than 18 Million vehicles across Australia and we aim to implement this on every vehicle. Expanding it internationally spreading it across continents. Our goals for the business: To generate sales value of more than $5 million in the first year. For each unit we install we would be getting 20% net profit in the initial year and increase up to 40% over five years time. We will be entering into the public listed companies within 5 years by 2024. We endeavor to manufacture our own products instead of procuring and outsourcing them from outside and plan to start our manufacturing by the 3rd year What differentiates our business? Our business solution is new, reliable, cost effective and sustainable too. There is no competition for us. It is a revolutionary product.
  • 3. Business Description The Shield will provide the revolutionary solution to all the car owners, which will protect car from dust, heat, snowfall and hail at parking position. This product is useful for every vehicle owners, because they all have one basic problem of heat after parking car under sun. Generally people use silver coating sheet to cover front wind shield of car after parking, to protect it from heat. Australia is a diverse country in terms of seasons including hot summer; hail and heavy rain all at the same time at different regions, whereas our product will be capable of solving all such problems at same time. The business is a unique idea and very profitable if implemented as structured. The various aspect of pricing differentiation for different model of cars or other vehicle will help business to serve all vehicle owners. This product will be capable of protecting car while on parking conditions, and the major feature will be heat protection for all six wind shields of vehicles; whereas a car owner does not have to be investing extra time for putting and removing spear shield. Our product will protect windows from dust and rain as well, customers does not have to be worries to clean windows and go out, our product will make it lets go for any car and customers. The access of car will be really easy in any sunny or hail days, and will save a lot of money of repairs. We will develop our R&D at State of the arts research centre and involving government assistance for developing it in more cost effective way. We will be setting up own Shield cubes at different workshops and places across Australia. Product and services The product service will be providing long term solution for their vehicles. It will provide a relief from sudden rain, heavy hail, dust and exclusively from sunlight. Sunlight damages car In numerous ways, damaging car leather, store heat and create suffocation, damaging wind shields and wipers; sunlight make it difficult for a traveler to sit and wait in sunlight or to leave pets in car or any belongings. Our product will be a one solution for many problems we face in normal lives. People love travelling in Australia and there is a major sunlight issues due to imbalance in ozone layer which has adverse affects to people and property. Our product is new, reliable, and cost effective, as well as it has lets go factor for users. It will be operated by car keys similar to other features like operating car boot, open and closing car windows. Out product will be installed in beading of car which will give cars a smart look, our product has a usp of customization which resolves all the hesitation of a customer to install our product or not.
  • 4. Apart from this our product will be having service station, and comes with two years of warranty. It is not limited to cars; we design our product for commercial trucks, buses and other logistic travelers to protect their wind shields. Industry it is very important for any business to build connecting blocks for each activity included in a business. To have a business model examines operational, strategic and marketing management. Being a new and revolutionary product our company feels its important to penetrate market in a correct way with correct plan, to make it more effective and efficient. (Osterwalder) Our company is entering in automobile accessory with a different product which has nothing similar existing but has other substitute products which only protects from sunlight not for other climatic damages. There are different manual windshield covers available in market at very low prices like snow windshield, sun protecting windshield, hail protecting windshield available at target, Kmart, supercheap and many more. Our competition will be with government research institutions which may be or may have been thinking to research and develop such product. Macro Business Analysis Strength Its a revolutionary product It has no direct competition in market. It is automated and easy to use technology. It creates a style statement. It is cost effective. It has multiple damage protection capacity from rain, heat, hail and dust. It can be used by any vehicle owners. It creates a new market segment. It gives rise employment and R&D department. It has multiple uses. Weakness It may be able to take time to develop a new market. It can be opposed by other substitute product companies and car manufacturers. It can have technical fault at initial stage. It will require high research and development team and resources. Opportunities It gives rise to new market segment. It can tie-up with car manufacturing companies. Threats Substitute products which are sold at very low prices. Government research institutions Brand recognition challenges.
  • 5. It can have multiple installation cubes at workshops. It will be a revolutionary product, which will give rise to a monopoly and high profit earning capacity. It has capacity to go global and enter into international market. Partnership with dealers and governments. P.E.S.T.L.E Political: Seeking government support for research and development incubators. Economic: Business gives rise to high employment and research team. Social: it has a lot of social benefits regarding health, give relief from expenses from such damages. Our product gives easy to use and lets go attitude to consumers. Technological: our product will be made of thinnest material which has capacity to control dust, rain, hail and heat damages. It will be automated and will be used at parked cars. Legal: it will be approved by health and safety law and product will be developed according to consumer law. Environmental: Our product will be 100% eco-friendly because it will procure and protect vehicles from environmental climatic damages. Industry Trends It is quite relevant to grow our market in Australia rapidly because of high sales of cars and other vehicles. In 2017 automobile sales was increased by 1.118 million. (Industries, 2017) In 2017, there have been more than 12000 insurance claims were lodged worth $31 million in Sydney; affected by hail. (News, 2017) There are different manual windshields available in market which resolves one problem, but our product is multipurpose damage protective. Competitive Advantage The company has pitched a business plan which is suitable for all the car owners and four vehicle owners. The company will have an competitive advantage because there is no such product available at present and other available substitute products are not
  • 6. they effective nor they are much reliable. This product will be cost effective which a person can afford than to replace all windshields of car. This product is suitable for all the car owners, logistic vehicle and other vehicles which have windshields. Our product is different from any other product because we have revolutionary solution which is customized according to the shape and size of the car, which gives a smart invisible look to car. We feel our customer is focused on smart looking protector as well as effective product, which they can get from The Shield. Consumers can save time by pressing one switch on their key controller and the shield will cover all the windshields of car; it is automated. Consumers can go on trips, outing or anywhere parking car outside house and not worrying about any damages. Consumers can park car outside at sun or rain at office hours, leave there pet inside for quick shopping, can leave there belongings inside car; as after shield no one can see what is inside the parked car. Staffing and Training "Hiring the right people-;and training them well-;can often mean the difference between scratching out the barest of livelihoods and steady business growth'側. Personnel problems do not discriminate between small and big business. You find them in all businesses, regardless of size." (Burstiner, 1997) To hire right person for the right job is called staffing. It is very important for any business to have effective, skilled and updated human resource that can do the right job at the right time. Engineers will be hired by recruiting agency and junior researcher and engineers will be hired from campuses. Our company wants to give chance to new and old candidates who can fit for the job. Having mixed human resource will make our business more energetic and work effective. We will have top level management from former existing posts who can lead our business to success, one president and two vice presidents. Our middle level management will be hired from recruitment agencies and direct contacts or university recruitments that have bit of experience in management and quality control. We will have a follow-up system in our management of staffing and training where we will be giving and taking feedback from employees and have follow- up on those changes. Being a new and revolutionary product our company is focused on perfection and cost efficiency so our product servers the best of its utility. The low level management and labours will be hired by advertisement on websites and newspapers. All the employees working in company will be having a background check and police check, the all will undergo three step interview levels, because our product is technical and we need right person who have a basic knowledge of assembling, designing, connecting and storing.
  • 7. Operation manager will control all the activities happening around and he will be responsible for all the activities done by employees who are being supervised under him. There will be a proper training to new staff and employed members of the company. We will hire employees with excellent English proficiency in writing and speaking. Training with be provided for 30-days and then employees will be under two months probation and if they fit perfect to the role they will be hired as permanent.