Assignment on Business Plan - pdf
Added on 2020-05-16
14 Pages4212 Words133 Views
Entrepreneurship
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ContentsContentsExecutive Summary.................................................................................................................................3Innovative Business Idea Description Summary..................................................................................3The problem............................................................................................................................................3The Solution.............................................................................................................................................4Market Assessment.................................................................................................................................4The Opportunity..................................................................................................................................4Lean Canvas.............................................................................................................................................4Agile Plan.................................................................................................................................................5Competition Analysis...............................................................................................................................6Competitive Advantage...........................................................................................................................6The Model...............................................................................................................................................7Revenue Generation............................................................................................................................7Leveragability......................................................................................................................................7Scalability.............................................................................................................................................7Target Customer..................................................................................................................................7Marketing and Sales Strategy..................................................................................................................8Financial Analysis.....................................................................................................................................8Appendix.................................................................................................................................................8SWOT Analysis.....................................................................................................................................8Lean Canvas.........................................................................................................................................9Agile Plan...........................................................................................................................................11Technopreneurship Matrix Spreadsheet...........................................................................................11REFERENCES-.........................................................................................................................................11
Future of Car ParkingExecutive SummaryEvery day, millions of people drive around parking lots trying to find a spot for their cars. The global number of cars on the will nearly double by 2040, according to a report released on Monday by research house Bernstein[ CITATION Mat162 \l 1033 ]. Even in the modern day where artificial intelligence is widespread and the unimaginable is real, people struggle and sweat over parking spots in extreme weathers. This is where ‘Parking Lot’ a mobile phone app comes in to renders the ability to find parking spots and end the hassles of the modern man. An era of fumbling for spare change and driving in circles in search for a parking space may be coming to a close[ CITATION Jor15 \l 1033 ].While Mercedes, BMW and the likes have come up with self driving cars which can parking themselves in the tiniest of spaces, the availability of empty parking spots remains a struggle for many. It is a problem to which the modern man has not been able to find a solution. Either that isthe case or no one has bothered enough to think of it as a problem that needs a solution. The automotive trade journal Ward's Auto had estimated that the total crossed 1 billion vehicles sometime during 2010[ CITATION Joh14 \l 1033 ]. With the growing number of cars each day, parking is a persistent problem especially when it comes to public places like mall, stadiums and shopping complexes. A growing number of vehicles even though have made transportation very quick and easy, have also created problems of their own.Innovative Business Idea Description SummaryThe idea is to create a smart phone app ‘Parking Lot’ that can send parking layouts to users from nearby buildings and notify user of available parking spots. Users can select an available spot and the rest shall be done by the car itself. Availability of parking spaces shall be updated in real time through infrastructure to vehicle communication using 5G technology.
The ProblemAccording to a report from Ward's Auto released last week, the global number of cars exceeded 1.015 billion in 2010, jumping from 980 million the year before[ CITATION Dan112 \l 1033 ]. One 2011 IBM study found that 30 percent of a city's traffic is attributable to people hunting for parking -- with a third of New York City drivers reporting they search for 20 minutes on average[ CITATION Emm14 \l 1033 ]. A large number of people spend increasingly large amount of time looking for a parking spot for their vehicles everyone time they have a trip to the mall or an amusement park or any other place packed with loads of people. Figuring out where to park, especially in a big city, can make you feel like you're in a zany Dr. Seuss story[ CITATION Kat12 \l 1033 ]. However, in recent times technology is being utilized in ways never thought of before. While looking for parking spots in over-crowded places is a huge problem, technology can come to the rescue and solve this problem accordingly. The SolutionIn the modern day world, almost every single person owns a smart phone. This smart phone can very well be utilized for solving the problem of parking. With the advent of 5G technology, the future of parking cars will see a definite change. The solution is to create an app enabled with GPS that shall notify the user of any close by parking areas as well as any available empty parking spots. The amount of time and effort that can be saved through this is by far enormous. Market AssessmentThe OpportunityEven though the modern day world is dynamic and fast changing, there are still a lot of areas where a definite improvement can be seen. Humans have been using GPS enabled Google Maps to go from one place to another. However, they haven't taken a step ahead and utilized their technology to look for parking spots. The app called "Parking Lot" shall do this and more. Imagine being able to park your car just by tapping an available spot on the screen of your smart phone. One does not have to drive around in a parking space, go up or down if there isn't a spot available and waste their time and effort. One can instead use an app to select a parking spot and the car shall go park itself. The SWOT analysis, made up of an assessment of strengths, weaknesses, external opportunities and threats from competition, provides an outline for strategic decision-making[ CITATION Fra13 \l
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