Innovative Business Idea for Fuel Delivery Service

Innovative Business Idea 0
Title: Innovative Business Idea
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Innovative Business Idea 1
Executive Summary
Business innovation is a process which is adopted by many organizations to introduce new
products and services, new methods, new ideas and new workflows. This attempt towards
adding this newness id due to the growing needs of customers and the market. This
assignment helps in understanding the various stages which are involved in launching a new
business idea. The innovation in a business is a latest trend, which is being practiced by many
organizations to keep up with the changing times and to achieve greater heights of success.
The innovative business ideas involve innovative business models, which has to deeply
understand for effective implementation of the idea.

Innovative Business Idea 2
Contents
Introduction................................................................................................................................3
Customer/Market Problem Identification..................................................................................3
What is the need and what purpose will it solve?..................................................................4
Benefits of Fuel Delivery...........................................................................................................5
Proposed Business Model..........................................................................................................6
The business model canvas sheet of unbundling business model..........................................7
Critical Success Factors...........................................................................................................11
Feasibility Analysis..................................................................................................................12
How Feasible is this Business Idea?....................................................................................13
Conclusion................................................................................................................................13
References................................................................................................................................14
Appendix..................................................................................................................................16

Innovative Business Idea 3
Introduction
With the changing times, the world is witnessing a number of innovative business
ideas which are both succeeding and failing. The need of innovative ideas is due to bringing a
change and helping people by bringing more convenience into their lives. The main
objective of this assignment is to build a business idea that is innovative. The idea has to
conceptualize perfectly with effective strategies and business models and also knowing the
feasibility of the idea, thus helping to transform this idea into a real business.
Customer/Market Problem Identification
For launching any business idea, there are many different business strategies and
models which have to be taken into consideration. But the first most important step towards
planning an innovative idea is a deep conceptualizing, which involves various factors which
have to be taken into consideration. It is very important to think about the need for delivering
fuel at homes, offices and any other place where it is required (Cai & Du, 2018).
The fuel delivering service will end up listing many customers and market problems,
which are-
 The need to go to a fuel station especially, to buy fuel.
 The wastage of time.
 The waste of money and consuming more fuel.
 The issues related to keep a record of bills.
 The issue which big companies face who have a fleet of vehicles and generators and
run out of fuel every now and then.

Innovative Business Idea 4
What is the need and what purpose will it solve?
Like there was a need for food delivery service decades ago now also the world is in
the need for fuel delivery services too. The need for the fuel delivery services is to end the
traditional way of going to a gas station for getting fuel as it will save a lot of time and
money. The process of going to a fuel station and coming back also consumes fuel, but by
fuel delivery this will save a person’s time and money. This business idea will help the
people who are stuck in offices, homes and any other place and are in need of fuel for their
vehicles. So, this innovative business plan fulfills a basic need of saving time and money
which can be utilized in other innovative activities (Coleman, 2005).
The process of conceptualization of a business plan also requires attention at various
aspects-
1. Competitive Advantage
There is a need of uniqueness in every business proposal which will help in
differentiating an organization from its competitors. There are only a few companies
which provide the facility of fuel delivery, but the new company should focus on
some factors which will differentiate it from its counterparts. These factors may
include extra services like car wash, discounts, personalized customer service and
many other (Ebel, Bretschneider & Leimeister, 2016).
2. Business Alignment
The idea should be conceptualized according to the current and the future
objectives, and directions of the organization. The factor of differentiating should also
be thought with this approach. The process of business alignment should be
conducted in a stepwise procedure (Falconer, 2016).
3. Customers

Innovative Business Idea 5
The idea should be fulfilling the needs and wants of the customer. But, the
idea should be well thought as many a times we think there is a need for this product
or service in the market. But many a times it backfires. The best way to overcome this
aspect is through conducting surveys.
4. Execution
On paper, everything looks simple when the practicality of the idea is
completely different. The identification and utilization of resources, the latest
technology that is needed, risks, stakeholders, strategies, suppliers and many other
things, which has to be executed should be focused on with a microscope.
5. Social & Ethical Requirements
Every business has certain social and ethical responsibilities which have to be
fulfilled. For running a fuel business, there are a number of licenses which have to be
taken for the legalized running of the business. For fuel delivery, the most important
licenses related to fuel buying and selling and the environment are needed (Hilkevics
& Stefenberga, 2010).
Benefits of Fuel Delivery
There are a number of benefits which are associated with fuel delivery services which
are applicable for both personal and professional lives. Some of them are-
1. Saves Money
The service of fuel delivery provides the customers with the facility to save
money. The businesses which involve a large number of vehicles or generates are
always in need of fuel and they order fuel in bulk. Now, the bulk price of a
commodity is always less than the regular prices of the fuel. Also, bulk fuel delivery
helps in planning the budget more effectively, which will also help in saving money.