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Profits from the Business Idea

Discuss about the Advances in Fruit Processing Technologies.

The modern business environment is very much competitive and the business owners have to be very cautious when they deal with the various issues in the contemporary business management. There are many businesses that are present in the contemporary business environment that cater to the general needs of the customers. This is why the process of satisfying the customers is a very important process indeed. This is the very reason for the business industries to innovate some new processes to bring new things into the mix. The innovation process should be enhanced due to this need of the customers only.

If the customers get some new things in their pocket, they will be highly glad to receive it. The requirements should be understood by the companies to provide the best services to the customers only. The competition is so intense that the business organizations have to innovate some new ideas and implement them positively. Some of the essential things in the business process are to decide the kind of product or service that would be sold, the place where the business should be located, collecting the raw materials for sustainable development and the meeting the legal guidelines of the business. The idea should be developed in a manner that the business should be feasible. The business idea that would be generated here in this paper is the fruit processing plant at Bangkok in Thailand. The justification of this business idea will be evaluated in this business idea through focusing on the business model canvas and discussing the critical success factor for this business to be generated.

The market gap is a very important for identifying the problems that are very much causing the problems for the customers. These gaps should be fulfilled properly so they can provide the customers with the needed things. It has been studied and found that Thailand is considered to be a country whose agricultural products are the main economic resource of the country. The exporting of the agricultural goods is the main resource for the country to generate their Gross Domestic Product or GDP.

The increase in the GDP will be helpful for the country to grow financially. It is also a concern that the most of the fruits that are produced in the country are exported. Thus the domestic market of Thailand does not have any fruits. The weather plays a very important role here since the climate of the country is very warm (Wirtz et al., 2016). The people in the country will need to drink the fruit juices so they can avoid to much heat and keep themselves cool enough to cope up with the climate change. The justification for this kind of business idea will be discussed in this paper because the innovation process is very uncertain some of the times and the business owners have to be very cautious about taking the important steps to make this business a successful one.

Designing the Business Model for the Fruit Plant Business

So, a business focusing on the food processing in Thailand would be a great idea indeed. Two advantages that have been identified here are the companies to begin this process should not have to find a new target market and they will be able to find the raw materials and labor forces from the existing local market very easily. So, at the primary phase, the new business idea seems to be very much customer friendly (Wirtz et al., 2016)

The business idea is a very strong one and the profits that can be generated from this idea would be discussed here. The gap in the market has been identified and this business will look to utilize from the idea. It has been found that the customers are not at all happy with the fact that the fruits are being exported to several countries. If the customers begin to get the products that they desired for long will be a good action for attaining the customer satisfaction. If this business gets a proper kick start, this can work as the channel for the bringing the economic advantages for the country. The GDP of the country will increase and the people of Thailand will be able to get a healthier life to live indeed (Egerer, Langmantel & Zimmer, 2016). Besides that many young people will be able to get jobs in this business. So, this will be beneficial from the financial perspectives of the youth of the country. Through this increase in the opportunities for jobs, many people will invest in this business and use the profit shares to upgrade their standard of living. As the company will have to pay the corporate tax from their share of benefits, this will be very much important for the government of Thailand to increase their funds in treasury.

The poverty in the country will go on to be reduced as the dependency ratio in the country will be dropped down. If the young people in the society of Thailand earn more money, this will improve the picture from the financial aspects.  The dependency reduction ratio will be a very important factor for developing the societal scenario (Hock & Weil, 2012). The development of this business will also be helpful for getting rid of the social evils like theft, robbery and others. This will decrease the number of crimes in the country as well.

Critical Success Factors


One of the most important things in this context is the process of designing the business model for this fruit plant business. It is evidently justified for the company to prepare the relationship between the nine building blocks of the business model canvas. The infrastructure of the company along with the product innovation will be the main issue in this context. It has to be looked after whether the organization has been able to fulfill the demands of their customer segments. The relationship with the customers will have to be looked after as well. The innovativeness of the products and services will have to be kept so the customers can feel very close with the brand of the company (Massa & Tucci, 2013). The customer segmentation can be divided into two classes, one is the group of people who eat sugar and other is the one who do not. Thus it will help the makers of the product to decide if they will prepare one product only or two different products based on the sweetness level of the preference of the customers (Muhtaroglu et al., 2013). The value proposition for this service will be the custom production and the service delivery. The company has to deliver the products on time and with efficient quality. They can build goof customer relationships by the help of the various social media platforms like Facebook, Instagram, Twitter and others. The distribution channels can be the effective supply chain management for the company (Christopher, 2016).  Thus the relationship between the company and the customers can be strengthened.

The company can apply two revenue streams for the generation of money. These two streams are transaction revenue and recurring revenue (Massa & Tucci, 2013) The key resources can be gained from the human, technological, financial and physical ones. The key activities for the company will be the acquisition of the various raw materials, canning the fruit juice and delivering it to the customers. The company can build some strategic alliances and develop the buyer-seller relationship. The ciot structure will depend on paying for the various activities like raw materials, processing, canning them and finally the delivery to the customers (Jobber & Ellis-Chadwick, 2012). 

Some things should be considered properly for making the business a profitable one and ensure its high profit. One of the most important things is to make sure that the workforce is very much skillful. They must arrange for training. If the company recruits the best employees in their business, this will increase the productivity of the company as well. They must form a team of legal experts who will look after the matter of meeting the legal requirements to make the company progress towards proper success. They must conform to the general trade policies that will be helpful for them to get the business permit (Kumar & Reinartz, 2018).

They also have to make sure that they go along with the customers maintaining a healthy relation. This will ensure that they get more customers by the recommendation by the already existing ones (Schaltegger & Wagner, 2017). It is because bad customer relationship can be fatal for the business idea to be implemented. They must take all the steps with much thinking beforehand so they do not have to face the hazards later on. The technological and human resources should be utilized properly.

The business idea will be able to get enough customers due to the climate conditions of the country. The demand for the proposed product through the fruit processing plant will be very high all the time as extreme heat pervades throughout the country. They will target almost all the people in the country because the product is healthy for all the products. The two categories for the products should be the main criteria for targeting most of the population (Goddard et al., 2012). The distribution of the product will be done effectively by the logistics department. There are some other forms who produce natural health drinks can prove to be their competitors. If those competitor companies produce the low quality products, this chosen business idea can succeed with much solidarity. The poor relationship with the customers can also be vital for the failure of the business idea. This new innovative business idea does not have any restraints from the legal perspective.

If the business idea has to be implemented successfully, the initial requirements will be around $ 5 billion. This amount of money could be gained from selling their shares and taking loans from the multinational banks (Illiashenko, Shypulina & Illiashenko, 2015).  The business can grow better with gaining the sustainability if they generate good of amount of profit in the first year. The business will be expected to get its first sales within two months. They are expected to reach the breakeven point within the first six months. Thus the business will grow up slowly.

Conclusion

All the business ideas need to have a start at one point of time. Likewise, this business will need to grow properly by developing the proper blueprint. They must build up the business with much planning. This will help the business to be a feasible one. The plans will have to be implemented properly so the idea can generate the revenues within the time. The entrepreneurs for this business will go on to take the help from the multinational banks to spred their business properly. The need for identifying the market demand will be very significant indeed. The benefits to be generated are hereby discussed in this paper. The business model canvas has been discussed. Hopefully, the proposed business for the fruit processing plant in Thailand will be helpful for the food processing industry.

References

Christopher, M. (2016). Logistics & supply chain management. Pearson UK.

Egerer, M., Langmantel, E., & Zimmer, M. (2016). Gross Domestic Product. In Regional Assessment of Global Change Impacts (pp. 147-152). Springer, Cham.

Fiske, S. T. (2013). Interdependence and the reduction of prejudice. In Reducing prejudice and discrimination (pp. 125-146). Psychology Press.

Goddard, M. G. J., Raab, G., Ajami, R. A., & Gargeya, V. B. (2012). Customer relationship management: a global perspective. Gower Publishing, Ltd..

Hock, H., & Weil, D. N. (2012). On the dynamics of the age structure, dependency, and consumption. Journal of population economics, 25(3), 1019-1043.

Illiashenko, S. M., Shypulina, Y. S., & Illiashenko, N. S. (2015). Knowledge management as a basis for innovative development of the company.

Jobber, D., & Ellis-Chadwick, F. (2012). Principles and practice of marketing (No. 7th). McGraw-Hill Higher Education.

Kumar, V., & Reinartz, W. (2018). Customer relationship management: Concept, strategy, and tools. Springer.

Massa, L., & Tucci, C. L. (2013). Business model innovation. The Oxford Handbook of Innovation Management, Oxford University Press, Oxford, 420-441.

Muhtaroglu, F. C. P., Demir, S., Obali, M., & Girgin, C. (2013, October). Business model canvas perspective on big data applications. In Big Data, 2013 IEEE International Conference on (pp. 32-37). IEEE.

Rodrigues, S., & Fernandes, F. A. N. (Eds.). (2012). Advances in fruit processing technologies. CRC Press.

Schaltegger, S., & Wagner, M. (Eds.). (2017). Managing the business case for sustainability: The integration of social, environmental and economic performance. Routledge.

Wirtz, B. W., Pistoia, A., Ullrich, S., & Göttel, V. (2016). Business models: Origin, development and future research perspectives. Long Range Planning, 49(1), 36-54.

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My Assignment Help (2019) Advances In Fruit Processing Technologies: Business Idea For A Fruit Processing Plant In Bangkok, Thailand [Online]. Available from: https://myassignmenthelp.com/free-samples/advances-in-fruit-processing-technologies
[Accessed 24 July 2024].

My Assignment Help. 'Advances In Fruit Processing Technologies: Business Idea For A Fruit Processing Plant In Bangkok, Thailand' (My Assignment Help, 2019) <https://myassignmenthelp.com/free-samples/advances-in-fruit-processing-technologies> accessed 24 July 2024.

My Assignment Help. Advances In Fruit Processing Technologies: Business Idea For A Fruit Processing Plant In Bangkok, Thailand [Internet]. My Assignment Help. 2019 [cited 24 July 2024]. Available from: https://myassignmenthelp.com/free-samples/advances-in-fruit-processing-technologies.

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