Business Plan for Alset Automotive Plc: Utilizing Hyper-Automation and Electric Car Technology

LETICIA ANSOMAH
7101
ENTREPRENEURSHIP
BUSINESS PLAN
ACADEMIC YEAR
2021/2022
SUBMISSION DATE
10/01/2022

Table of Contents
INTRODUCTION...........................................................................................................................3
Business Plan...................................................................................................................................3
Company Overview................................................................................................................3
Vision and Mission.................................................................................................................4
Objectives...............................................................................................................................4
Situational analysis..........................................................................................................................4
SWOT Analysis......................................................................................................................4
Pestle Analysis........................................................................................................................5
Competitive Analysis.............................................................................................................7
Market trends..........................................................................................................................9
STP (Segmentation, Targeting and positioning) .................................................................10
Marketing Strategy...............................................................................................................11
Financial planning................................................................................................................12
Monitoring and Evaluation...................................................................................................13
CONCLUSION..............................................................................................................................14
References:.....................................................................................................................................15
UK government partners with disability charity to set standards for electric vehicle chargepoints
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INTRODUCTION
In the competitive business environment there is emergence of different technology that is
leading to technological advancements to the great extent. In order to sustain in the competitive
business environment the businesses are coming up with new business ideas that effectively
utilize new technology (Pandey, Manochaand Saini, 2020). The person generating new business
idea is known as entrepreneur. A process of generating new idea and transforming it into the new
business venture is known as entrepreneurship. Business plan is the detailed and structured
document that describes the objectives of the new start-up and what other requirements are there
for starting a new business venture. The present report is the business plan of starting a new
automotive business venture” Alset automotive plc”. The new venture is coming up with new
product that is cars and vehicles that has compliance of hyper automation and electric car
technology. The business plan is developed on the basis of the SOSTAC Model. The purpose of
this business plan is to gain the opportunities of these two technologies in order to gain
profitability and also to contribute to environment in healthy and ethical manner.
Business Plan
Company Overview
The “Alset automotive plc” is the new business start-up developed in the UK automotive
industry. The company is new small business start-up that aims to develop new car models that
are affordable, efficient in working, energy efficient, fuel free and has the emergent of two new
technology i.e. hyper- automation and electric car technology (Milev and Al-Habaibeh, 2020).
The company's product is the new car that is highly advanced with the above two new
technologies. The company is located in the centre of the London. The company is considered
under the SME and the development of this new company has its major impact on growing the
economy.
his business plan is for the new automotive business venture “Alset automotive plc”. The
purpose of starting this new business venture is to utilize the new emerging technology hyper-
automation and electric car technology in developing new car models that are sustainable and
Eco- friendly. The business plan aims to outline every single detail of the new venture by
analysing the market, competitors, financial planning and future exploitation of the opportunities.

Vision and Mission
Vision:
The company has a vision to create a new value, excite and delight the customers with new cars
that are highly advanced and fast and completely sustainable.
Mission:
The company has mission to become first entrepreneurial venture of the UK that is effective in
using electric car technology and hyper automation technology.
Objectives
 To become the most sustainable automotive organisation of the UK automotive industry.
 To gain competitive advantage with new technologies in the new car model.
 To earn profitability and productivity with the launch of new product.
 To use renewable greenery in order to avoid environment disruptions and degradation
caused due to fuel.
Situational analysis
SWOT Analysis
The SWOT analysis is the effective tool to analyse the key strengths and weaknesses of the
company in the existing market and also help in analysing the opportunities that company can
acquire in the future. The SWOT analysis of the Alset automotive plc is conducted below:
Strengths
 The major strength of the Alset automotive plc is its latest hyper-automation and electric
car technology of the company is the key strength. This help the company to lead the
market as an start- up and also help in gaining sustainable competitive advantage and
profitability in UK automotive industry. This technology of the company is highly
affordable, eco- friendly for the environment, easy to use, economical and most
importantly is competent with current business environment.
Weaknesses
 The financial health of the company is highly low as for acquiring such technology and
for developing a car there is requirement of high amount of funds. But as the company is