BUSN635 Business Plan Development

Business Plan Part I -Business Vision

Imagine you are involved in a new start-up company. You are tasked to organize the key elements of a business plan. This first part of the plan would be to provide an overview of the business, including the mission statement and vision of the company’s products and services.

 

Next, explain the value proposition of your company’s products and services and describe how they will satisfy the primary needs or wants of your target audience.

 

You also need to provide a high-level overview of the business model you have selected to exploit these market opportunities.

 

Finally, you will need to develop a feasibility analysis that supports your decision to move forward with the project. Make sure to support your strategy with research from the course textbook and other outside resources.

Part I of the business plan will describe your business vision you plan to undertake in your company.

1. Provide an overview of the business, including the mission statement and vision of the company’s products and services.

2. Explain the value proposition of your company’s products and services and describe how they will satisfy the primary needs or wants of your target audience.

3. Discuss a high-level overview of the business model you have selected to exploit these market opportunities.

4. Develop a feasibility analysis that supports your decision to move forward with the project. Be sure to support your strategy with research.

5. Use at least three (3) quality resources in this assignment.

1. Provide an overview of the business

At the workplace and at homes, individuals are associated with numerous wireless devices which emit a stream of invisible waves. The waves come from Wi-Fi signal, Bluetooth speakers, Smartphone, Smart-watches and laptops. The lives of the common people are in touch with the radio waves and people use the devices which are connected by Wi-Fi or Bluetooth. A day without Smartphone seems like impossible for the young generation and Smartphone sends electromagnetic radiation that can also harm the health of the individuals. The ultraviolet rays of the sun harm the health of the common people. A mobile phone can transmit 100 times more strengthening radiation than Wi-Fi and exposure of the radio waves has a negative effect on people’s body (Choi & Choi, 2016).

This start-up business aims to manufacture anti-radiation systems (wearable and pills) for common people that may help to protect human health from radiations that generate from Mobile signals, Wi-Fi signals and UV rays from the sun. Pro-Tech Solutions, the start-up business is going to manufacture wearable technologies which would help the people to protect themselves from hazards and this anti-radiation system could save the lives from electromagnetic radiation. Pro-Tech Solutions would also manufacture technologies which the people can use at homes and at the workplace to be safe from the radiation. Mostly, the children and the aged people will be safe from ensuing high blood pressure, heart attack, memory loss, brain tumour and infertility. Pro-Tech Solutions will provide the customers unique anti-radiation chips to be used inside the Smartphones, anti-radiation mobile cases, anti-radiation laptop shield, anti-radiation protector and anti-radiation pills for health conscious people.

Mission Statement:

The mission statement of Pro-Tech Solutions is to provide anti-radiation systems, easy to use accessories which may effectively minimise radiation exposure and reach large numbers of customers through differentiating the offerings.

Vision:

The vision of Pro-Tech Solutions is to have a largely satisfied customer-base across the globe by providing scientifically effective radiation blocker technologies.

2. Explaining the value proposition of the start-up’s products

Pro-Tech Solutions will be established scientifically proven anti-radiation system manufacturer having special fractal diffraction lattice technologies. Anti-radiation systems of Pro-Tech Solutions can reduce the exposure of radiation from Wi-Fi, electromagnetic and Bluetooth by almost 99% (Samuel, Asokan & Priya, 2018). The anti-radiation system means to the technological products or the customers can make some changes in the electronics gadgets which can decrease the radiation of electromagnetic waves. The anti-radiation systems and technologies can assist individuals to stop getting affected due to electromagnetic waves and radiation. Pro-Tech Solutions will sell their products through websites and e-commerce at first. Pro-Tech Solutions is planning to sell their products in the open market through physical stores and in retail stores. The customers can purchase their products and the customers can learn how to use the products from instruction manuals. Pro-Tech Solutions is going to start ‘Customer Service'24*7 expert team which would help the customers to solve their queries.

Individuals are worried due to radiation and heat emitted by the mobiles and other electronic gadgets and users of anti-radiation chips and cases can be safe from health hazards.

• Anti-radiation protected shield technologies will protect the homes and workplace to be safe from electromagnetic waves and radio-active ways.
  
  
• Pro-Tech Solutions is going to offer radiation control flip-cover for Smartphone users which will provide a layer of material in the front flap of Smartphone.
  
  
• The customers can also use anti-radiation bands at hands which will protect the individuals from Wi-Fi and Mobile signals.
  
  
• Pro-Tech Solutions is going to offer anti-radiation pills for the employees who work in large technological fields which will contain potassium iodide.
  
  
• Pro-Tech Solutions offers sunglasses to protect from UV rays of the sun.

Such vast product offerings make Pro-Tech Solutions unique in the local market and in the global market as well. The competitors in the market do not offer such large differentiate products; product differentiation and product-line stretching is the competitive advantage of Pro-Tech Solutions which is the USP (Unique-selling-Proposition). 

3. Satisfying the primary needs or wants of the target audience

The primary target market of Pro-Tech Solutions is going to be the young generations aged between 18 and 30. This generation uses Smartphone, Smart-watch and Wi-Fi and Bluetooth headsets and this aged people are exposed fully to harmful radiation. This young generation can use these products at home and at the workplace as well.

The secondary target market of Pro-Tech Solutions will be employee conscious private and public organisations. Pro-Tech Solutions will talk to the employers to make them understand the harmful effects of radiation from laptops, Wi-Fi signal and Bluetooth on the employees. At the workplace, the employees are exposed to the radiation for almost 8 to 9 hours; the companies can use anti-radiation blocker system and shields to protect the health of the employees.

Pro-Tech Solutions is going to solve the needs of the market as the people are going to be more health conscious, on the other side, they cannot make themselves free from the tangle of technologies. Therefore, Pro-Tech Solutions is going to solve the worries of the people to be safeguarded against the harmful radiation. The recent news on the internet and newspapers makes the people aware of the harmful effects of radiation and electromagnetic waves. Electromagnetic waves and radiation also lead to insomnia and cell-growth may stop developing. Cell phone radiation may increase the risks of heart and brain problem and Wi-Fi exposure leads to hormonal shift and oxidative stress (Dasdag et al., 2015). The users of the technologies will be safe from radiation and non-users of these technologies and products will also be safe as being the passive users.

4. Business model to exploit these market opportunities

Market opportunities for Pro-Tech Solutions:

• The common people cannot stay without internet, Wi-Fi and Smartphone
  
  
• The private and public companies are using technologies and they want to install anti-radiation systems for employees
  
  
• People are getting more health conscious
  
  
• Competitors in the market are less
  
  
• Wearable technologies, shield and mobile case and chips are easy to use

Business model canvas:

Key Partners   Supply chain  E-commerce Retailers Mobile phone manufacturers In-house sourcing Micro-soft  Outsourcing	Key Activities   Designing R&D Assembling Marketing and promotions Distribution Support service Public awareness	Value Proposition   New in the market Product differentiation Fewer competitors Premium quality Massive variety Health safety Cutting-edge technology		Customer Relationships   Live chat with video Support centres Remote services Cyber service Warranty period
	Key Resources   Financial Product plants Knowledgeable executives Human resource Network and research Intellectual property			Channels    Distributors and salers Business partners Dealers Carriers Enterprise alliances Suppliers
Cost Structure ·       General and administrative ·       Cost of sales ·       Marketing and selling ·       R&D ·       Production			Revenue Streams ·       Sales ·       Maintenance ·       IT and Communication ·       Chipset and electronics

5. Feasibility analysis that supports the decision to move forward with the project

As stated by Rauch & Hulsink (2015), organisational feasibility is related to the competence of management and the sufficiency of resources. Pro-Tech Solutions will evaluate the organisational ability to satisfy the needs of the customers. Management of Pro-Tech Solutions has the idea of an anti-radiation system which would help the business to provide strength and the costs of the products will be feasible.          

Pro-Tech Solutions is having good technological support from human resources and experts. The suppliers of the organisation are going to be tenured in the market. The success of the business idea mainly depends on the concept and industry competitiveness. Pro-Tech Solutions have good technical support, solid human resources, financial support and a few competitors in the industry. Pro-Tech Solutions found the gap in the market and they have justly identified the needs of the customers to offer new products.

The owners of Pro-Tech Solutions are going to invest US$ 2 million and they have already applied for the loan for start-up. They themselves have to save and they are taking help from the near friends and families to run the new business.

Financial feasibility:

	High Potential (+1)	Moderate Potential (0)	Low Potential (-1)
In new venture initial capital investment	High
Numbers of Revenue drivers		Moderate
Competitors		Two or three
Business products and services	High
Ability to fund initial product			Low
Time to Break-even		One or two years

References

Choi, Y. J., & Choi, Y. S. (2016). Effects of electromagnetic radiation from smartphones on learning ability and hippocampal progenitor cell proliferation in mice. Osong public health and research perspectives, 7(1), 12-17.

Dasdag, S., Ta?, M., Akdag, M. Z., & Yegin, K. (2015). Effect of long-term exposure of 2.4 GHz radiofrequency radiation emitted from Wi-Fi equipment on testes functions. Electromagnetic biology and medicine, 34(1), 37-42.

Morris, R. D., Morgan, L. L., & Davis, D. (2015). Children absorb higher doses of radio frequency electromagnetic radiation from mobile phones than adults. IEEE Access, 3, 2379-2387.

Rauch, A., & Hulsink, W. (2015). Putting entrepreneurship education where the intention to act lies: An investigation into the impact of entrepreneurship education on entrepreneurial behavior. Academy of management learning & education, 14(2), 187-204.

Samuel, A., Asokan, S., & Priya, G. (2018). The effect of electromagnetic radiation interference from smartphones on electronic apex locator function. Endodontic Practice Today, 12(1), 34-45.

Scarborough, N. M. (2016). Essentials of entrepreneurship and small business management. Pearson.