logo

Fundamentals of Entrepreneurship

   

Added on  2020-05-11

5 Pages975 Words85 Views
Running head: FUNDAMENTALS OF ENTREPRENEURSHIPFundamentals of EntrepreneurshipName of the StudentName of the UniversityAuthor’s note
Fundamentals of Entrepreneurship_1
1FUNDAMENTALS OF ENTREPRENEURSHIPTechnology has offered humanity with a lot of opportunities and options of expansion;the advent of Internet has changed the world and has made the globe a small place to live in. withthat the transportation and connectivity has also reformed by leaps and bounces giving usopportunities to travel and explore the world around us. The product that we are going to discusstoday is a culmination of both the factors. To begin with, I would like to cite that for developing a new business idea, anentrepreneur needs to undergo some essential stages and without a doubt, it can be stated there isan interconnection between each of these stages. According to me, the primary stage is undertaking a market research. In Australia, thereare various organizations that are providing taxi services in respect of the customers. From themarket research that I have conducted, I found out that these companies are providing taxiservices within a specific territory such as within a city as because, it is considered being aterritory based industry. Due to this limitation, the passengers face the brunt of non-availability of outstation taxiswhen they wish to travel to places outside the city or to different cities. From the market researchthat I have conducted, it was found out that majority of the taxi companies that exists either donot offer this service and the ones which do are charging exorbitant prices for the same. So, the new business plan that I would like to propose will be solving to a large extentthis problem of the commuters. The business idea can be stated as, “Outstation taxi servicesoffered for passengers at a competitive price”.
Fundamentals of Entrepreneurship_2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
BidTaxi Service: A New Approach to Ridesharing
|11
|2434
|70

Uber: A Market Analysis and Recommendations for the Future
|13
|1284
|173

Marketing Mix of the Organisation - Assignment
|7
|1428
|70

Business Opportunities for Ride Your Way Limited in the United States of America
|4
|843
|431

Difference Between Innovation and Entrepreneurship
|15
|4166
|20

Analysis of UBER and its Competitive Market
|11
|3338
|46