Business Research: Developing and Selling Electric Scooters and Motorcycles

BUSINESS RESEARCH

Table of content
Introduction of the business idea
Defining and exploring the high growth nature of the Hi-Tech concept
Identification of appropriate mechanism that will be used for protecting the intellectual property
of the business idea
Exploitation of resources, commercialization Strategies and Finance needed to bring the concept
of market
Assessing ability to take forward the idea and explore how knowledge and skills gap could be
filled with respect to the characteristics of high tech entrepreneurs
Summary and Recommendation
Research and resources
References
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Introduction of the business idea
The business idea is a fundamental idea through which the development of business is performed
and idea needs to be innovative and practical to be implemented in today's context. It is to be
mentioned that through the use of an efficient business idea an entrepreneur can effectively enter
the market which will help in better development and operation of the business. The business
idea which will be discussed in the current assessment is the development and selling of electric
scooters and motorcycles. Through the analysis of the current environmental demands and
change in environment, it has been seen that the need of pollution-free vehicles will be the need
of future automobile market hence the business idea is to be implemented to succeed in the
future operations by the entrepreneur.
Defining and exploring the high growth nature of the Hi-Tech concept
There are many effects of Hi-tech technology in business operation. Even a small business
nowadays need a hi-tech technology in order for the growth of their business. Hi-tech technology
has both tangible and intangible benefits and this benefits will help you to grow your business
properly, earn money and also help your company to produce the results and satisfy your
customer's needs (LIAO, ZHANG and HE, 2016). Efficiency, culture and relationship of a
business can be affected by the hi-tech technology infrastructure (Marvel and Lumpkin, 2017).
Hi-tech technology helps an organization in many ways like:
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1. Communication: For the growth of any business proper communication is very necessary.
An effective and fast communication is needed by every firm in order to communicate
with their customers. Nowadays it is very necessary for the employees to contact or
interacts with their clients clearly and quickly. With the help of a good communication
system, an organization can advertise and make the customer know about their products
very well. According to Ioanid, Scarlat and Militaru (2015), communication allows helps
fast shipment of the products over a large geographical area. So if a customer or client
use any technology to interact with the company or business then because of a good and
effective communication it will benefit the business and also create a stronger public
image of the company.
2. Efficiency in growth and operation: Hi-tech technologies also help a business in their
operation and growth. They help a business to understand the cash-flow needs and helps
the company to preserve their precious resources such as time and physical state. With
the implementation of hi-tech machinery, a firm can produce their products in an
effective manner and it also speeds up the process (Rodríguez-Bolívar, Alcaide-Muñoz
and Cobo, 2018).
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