Business Opportunity Project Assignment Sample

Added on - 17 Feb 2021

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BUSINESSOPPORTUNITYPROJECT
Table of ContentsINTRODUCTION...........................................................................................................................3PROJECT.........................................................................................................................................3VISUAL INFOGRAPHIC......................................................................................................3RESEARCH DIARY..............................................................................................................4REFERENCES................................................................................................................................6
INTRODUCTIONBusiness opportunity is the investment made by an entrepreneur to initiate and develop aventure project. Within corporate world, market presents continuous opportunities for anindividual to conduct a study and analyse the latest trends in order to develop a business projectwhile assuming its liabilities and risks also (Cooper and Sommer, 2016). The present report isbased upon Sollatek (UK) which has become one of leading manufacturers of specialist productsfor protection of electronic and electrical equipments. This is an SME having 50 employeeswhich together constitute a strong team. This report will take a look into the mega trends takingplace within the consumer electronic industry. Further it will explore the business opportunityassociated with applying cognitive computing within the manufacturing unit of company.PROJECTVISUAL INFOGRAPHICSollatek (UK) is a company which is operating since last 35 years and is based in UnitedKingdom. This SME is involved in power control, energy saving and voltage protection with themajor emphasis upon protection of electronic and electrical equipment against unreliable orunstable voltage. This enterprise is considering the option of use of cognitive computing on theirmanufacturing plant. This is being done with the aim to enhance the pace of operations andfunctioning as well as to ensure efficiency of product development processes taking place acrossthe organisational premises (Dreany, Roncace and Young, 2018).In order to stand with mega trend of marketplace, implementation of cognitive computingwithin Sollatek is an innovative approach which has been undertaken with the aim to enhance theexisting share and position within UK marketplace as this lays down the foundation to businessgrowth and sustainability. Such adoption of sector’s mega trend is focussed upon introducinginnovation within the organisation so as to increase its scale of operations and thereby enhanceits sales(Forbus and et. al., 2017). This tends to provide opportunities to Sollatek to continuouslyengage in innovative practices and technologies to gain a competitive advantage over rivals inthe marketplace. Further, this entity possesses the capability to introduce a new product orservice that is aligned with the utilisation of cognitive computing. Thus, it will introduce 150 AhSolar batteries which will be developed by the help of robots on solar manufacturing plant.
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