Developing a New Venture Plan for 3D Printing Using Electronic Waste Products

In this document we will discuss about Developing a New Venture Plan for 3D Printing Using Electronic Waste Products and below are the summary points of this document:- Importance of waste management for environmental and health security Need for new venture development plan due to increasing waste in industrial nations Proposed business model of manufacturing 3D printers using electronic waste products

Running head: MANAGEMENT
Management
Name of the student
Name of the university
Author note

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Table of contents
Introduction......................................................................................................................................3
The need for new venture................................................................................................................3
Proposed business model.................................................................................................................4
Relevancy of the business model.....................................................................................................9
Application of the business plan....................................................................................................12
Project plan for launching new venture.........................................................................................14
Problem assumptions.....................................................................................................................15
Conclusion.....................................................................................................................................16
Reference list and bibliography.....................................................................................................17

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Introduction
The term waste management plays a significant role for managing both the environmental
and health security (Heeks, Subramanian & Jones, 2015). Waste and rubbish can cause air, water
and soil pollution that can impact on the case of managing the current situation in the workplace.
The purpose of this study is to shed light on the importance of new venture development plan.
Analyzing the importance of venture development plan an effective business model will be
developed. The study has shed light on developing the business plan on 3D printer, which will be
manufactured using the electronic waste products such as TV, radio and others. After developing
the business model, action plan has been introduced for discussing the implementation of the
business plan. At the end of the study, problems have been assumed, which can create challenges
for developing the business.
The need for new venture
Examining the recent business scenario, it has been identified that most of the
organizational are not being able to denote the increasing expanses issues. In case of industrial
nations, the rate of wastage has been increasing, which has become highly challenging for the
organizations to maintain the environmental obligations to sustain in the market (Medvedevet al.,
2015). Due to various technological innovations, the old electronic tools have become wastage.
In this situation, recycling these things have become necessary for not only making use of the
wastage, but also introduce a new business idea in the market. It can be assumed that by
introducing the effective use of dumped products, influences of environmental damages can be
reduced, which can be beneficial for the community. Analyzing the waste rate in 2016, it has
been identified that near about 44 million tons of products have been dumped, which has highly

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influenced the global climate (Testa et al., 2016). Through the new venture, it will be easier to
recycle the dumped products and make the effective use of the products.
Analyzing the current business trends, it has been identified that waste management
initiative have become necessary for sustaining in the competitive business environment. Cost
saving through the waste management initiatives have become easier. By continuing this it can
be said that in order to create the business and employment opportunities, the waste management
has become important (Horvath, Mallinguh & Fogarassy, 2018). In order to develop a new business
in the Australian competitive business environment, it is very important to mitigate the
environmental obligations. By introducing effective environmental policies, the company can be
able to manage the easier and cheaper business practices. On the other hand, it can be said that
the waste manage management can play an influential role for reducing the excessive amount of
wastage.
Proposed business model
As increasing amount of wastage has become the major concern for human life, in this
situation, the concept of 3D printer can be effectively introduced in the market. Due to increasing
industrialized wastage, bringing the environmental sustainability has become necessary. In this
situation introducing a startup business, depending different components of business, the model
can be developed.
Problem analysis
Analyzing the emerging problem it has been identified that increasing amount of
industrial waste has become an important concern for the community (Singh & Ordoñez, 2016).
Increasing amount of wastage not only impacting on the environment, but also human life is also

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getting affected. By continuing this it can be said that the increasing amount of the wastage has
also increased the expanses. In order to introduce an effective cost management initiative, it has
become important for introducing an effective model so that the waste management can be done.
Target market
There are three types of segments depending on which the target market of the company
is being identified. Depending on the demographic segment, the startup business will target the
age group between 12 to 60 years. As the entrepreneur has decided to introduce the cost effective
business plan by engaging the community, in that case, the upper class and middle class people
will be targeted by the company. In order to grab the attention of large numbers of customers, the
store will be located in the urban areas. As the 3D printer will be the combination of technology
and innovation, in that case, depending on the psychographic segment, the people who have
interest in technology will be targeted by the entrepreneur.
Value proposition:
In case of 3D printer, the product will be developed by using the electronic wastage such
as TV, radio and others dumped products (Kurdve et al., 2015). The 3D printer not only used for
commercial purpose, but also it can help to reduce the cost of per units. In case of collecting the
raw materials, the entrepreneur has decided to engage the community by encouraging them
towards contributing in the sustainable initiative.
Market opportunity
Due to various financial and social opportunities in the market, the living standard of
people has been increased. On the other hand, it is also true that depending on the current
situation it cannot be denied that 3D printer has high demand in the market (Bing et al., 2016). By

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continuing this it can be said that in case of introducing the business in the Australian market,
different trade opportunities can be gained. As the main motive of the entrepreneur is to
introduce a cost effective business plan by reducing the environmental effect, therefore, the 3D
printer will reduce the manufacturing cost by recycling the products, which will be new concept
in Australian market. In that case, it can be assumed that the business model will be highly
appreciated by the people.
Competitive advantage
Technological innovation has become highly popular in the Australian market. In order to
gain the competitive advantage, the effective promotional activities can be introduced. Celerity
endorsement through social media platforms can be beneficial (Doppelt, 2017). As the product
will be made by using the electronic wastage, in that case, reducing the cost of the products
competitive advantage can be gained.
Market strategy
In order to introduce the new product in the market, the entrepreneur will be introduce
himself as a sole trader. In case of maintaining the availability of raw materials, community
engagement will be done, in which people will dump their electronic products in a particular
place. Both the online and offline promotional strategy will be followed for promoting the
product in the market.
Revenue model
The revenue model will be developed depending on the customer value, marketing and
selling. In order to increase the customer value, the needs of individuals will be satisfied by

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promoting standard quality of product n reasonable price. In order to introduce effective brand
image marketing is required. Both the online and offline selling trends will be followed.
Key partners
 Stakehol
ders
 raw
material
supplier
s
 content
partners
Key activities
 Platform
developm
ent
 Manufact
uring unit
developm
ent
 Value
propositio
n
 Introducin
g the 3D
printer by
using the
electronic
wastage,
so that the
recycling
of the
products
can be
done and
environm
ental
benefits
can be
Customer
relationship
 Retail
and
online
distributi
on
channel
will be
followed
by the
entrepre
neur.
Customer
segment
 From the
demogra
phic
segment,
the
people
in
between
the age
group of
12 to 60
will be
targeted.
 Upper
class and
middle
class
people
Key resources
 Technolo
gy
infrastruct
ure
 Machiner
y
Distribution
channel
 Social
media
like
Faceboo
k, twitter

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equipment gained.
 Introducin
g the cost
effective
business
plan for
gaining
the higher
rate of
profit
 Increasing
the
communit
y
engageme
nt for
social
benefits.
and
Instagra
m
 Different
ecomme
rce
websites
 TV and
news
channels
will be
targeted.
 In order
to grab
the
attention
of large
numbers
of
custome
rs, the
compan
y urban
area will
be
selected
for
developi
ng the
business.
Cost structure
 $300 will be invested in marketing and
sales
Revenue stream
 It can be assumed that the within
coming 3 years the promotional

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 $200 for research and development.
 $ 500 general and administrative costs
 $1200 manufacturing and supply chain
cost
 $500 labor cost
revenue will increase 5%
(Created by author)
Relevancy of the business model
Market analysis
The 3D printing has changed the traditional perception of manufacturing industry. It is
true that 3D printers are not new concept in the market, however, in case of using the 3D printers
for waste management can be considered as the effective way to attract the Australian customers.
In the year 1976, the 3D printing was introduced for producing the numbers of components and
parts (Pacificconsultinggroup.com.au 2019). However, it cannot be denied that higher cost of
raw materials in most of the cases, the organizations are not being able to implement the 3D
printing business plan. In this situation, if the raw materials can be collected from the electronic
wastages, in that case, cost effective as well as environmental friendly business plan can be
effectively introduced in the market.
Analyzing the 3D printing market, it has been identified that in the year 2014, the global
3D market has reached at $4,164.2 million. Due to technological innovation in the market, it has
been identified that demands of such products in the market has been increased
(Pacificconsultinggroup.com.au 2019). The global 3D printing market segment is based on
component, technology and region. Depending on technology, the 3D business market can be

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classified into fused deposition modelling, electron beam melting, digital light processing,
stereolithography and others. Analyzing the growth of 3D printers in the automotive industry, it
has been identified that in order to significantly penetrate the automotive industry, the 3D
printers have significant impact. It has also played an influential role for providing the
customized products. It has also brought the opportunities for customizing their own products. In
case of bringing the 3D printer using the electronic wastage, it can be assumed that, it will be
beneficial for the grabbing the attention of large numbers of customers.
PESTLE analysis
Situation Analysis
Political Australia is being considered as one of the popular politically
peaceful country (Perry, 2017). Due to its political stability,
developing a new business plan in the Australian market can be
beneficial.
Economic Analyzing the GDP growth rate in Australia it has been identified
that from the year 1960 to 20918, the GDP rate in Australia has
increased 3.46%, which is quite impressive. In this situation, it will
be easier for the entrepreneur to develop the startup business in the
Australian market (Morris & Metternicht, 2016).
Social Diversified culture is being shown in Australia, which has impacted
on its business market (Islam & Mamun, 2017). It is true that depending
on the social standard of Australian people it has been identified that
people have become highly conscious about the impacts of industrial

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wastage on the human life. In this situation the 3D printer with the e-
wastage will be highly appreciated by the Australian people.
Technological Technological innovation has brought huge changes in the Australian
automotive industry. Various social and economic opportunities has
increased the demands for innovation in the market. In this situation,
it can be assumed that a 3D printer made by electronic waste will be
appreciated by the Australian people.
Legal The government in Australia has introduced fair trade regulations,
which has brought opportunities in the market for developing new
business (Islam & Mamun, 2017). On the other hand, employment
standard and customer security regulations are strongly being
followed in Australia. In this situation it will be easier for developing
new business.
Environmental Environmental protection Act is strictly being followed in the
workplace (Perry, 2017). In that case, the waste management is being
highly appreciated by the government. As the initiative of 3D printer
will be introduced for recycling the waste products, in that case, it
can be assumed that the environmental situation in Australian will be
favorable condition for the entrepreneur.
(Created by author)
Marketing mix
Product

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The 3D printer will be introduced by the company, which can be used for any purpose. In
the product made by electronic wastage, customers can be able to customize the components as
per their needs. It is very cost effective and high quality of the product will be maintained.
Price
The entrepreneur has decided to introduce the product in reasonable price o that large
numbers of people will be able to experience the product. In that case, per unit of the product
will be $50 US dollar.
Place
Both the online and offline distribution process will be adopted by the entrepreneur.
Through the retailers the products will be distributed in the malls. On the other hand, the
ecommerce organizations like Amazon and others the online delivery of the products will be
done.
People
In order to develop the business, the stakeholders, employees and the customers will be
the key people of the business plan.
In the above discussion, it can be said that in order to survive in the competitive business
environment of Australia, the business plan will be beneficial for the entrepreneur to achieve the
goals. Due to changing needs and demands of the customers, this technological innovation can
be able to satisfy their needs as well as it will also be helpful for maintaining the environmental
sustainability.

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Application of the business plan
Objectives
 To introduce an effective tool that can be able to recycle the electronic wastage
 To development an effective business model in which the higher rate of benefits can be
gained
 To identify the assumed risks for developing the business model and provide effective
solution
Time allocation
Activities 1st to
3rd
Week
4th to
10th
week
11th to
13th
Week
14th to
17th
Week
18th to
21st
Week
22nd
to 23rd
Week
24th
Week
Selection of the topic 
Data collection from
secondary sources
 
Creating layout 
Analysis and
interpretation of
collected information
  
Developing the
objectives
 
Budget allocation 
Marketing  
Recruitment and
selection
 
Operation and
infrastructure
 

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Risk assessment  
Contingency plan  
Progress and review of
the plan
 
(Created by the author)
Action plan
Step 1: In order to implement the business plan, the research and development will be done so
that the problem can be identified.
Step 2: After identification of the issue, the solution will be introduced.
Step 3: In this stage, entrepreneur develops the objective and design the layout of the business
plan.
Step 4: In this stage, the budgeting will be done and being allocated by the finance department.
Step 5: Promotional activities will be done by using the social media and others off line
platforms.
Step 6: Recruitment and selection will done depending requirements
Step 7: Effective infrastructure will be developed so that the business operations such as supply
chain, distribution and delivery process can be effectively maintained.
Step 8: In this stage, risk assessment will be done, where the future risks will be assumed.
Step 9: In this stage, the con tangency plan will be developed. If any case the main business idea
will face the failure, the contingency plan will help to reduce the financial effect.

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Step 10: It is the final step of the business plan, here the progress of the business plan is being
monitored.
Project plan for launching new venture
Activities 1st to
3rd
Week
4th to
10th
week
11th to
13th
Week
14th to
17th
Week
18th to
21st
Week
22nd
to 23rd
Week
24th
Week
Gather information for
problem analysis

Select a particular
solution
 
Creating layout 
Define the policies to the
business group
  
Developing the
objectives
 
Budget allocation 
Create network profiles  
Configure approval
workflow
 
Operation and
infrastructure
 
Risk assessment  
Contingency plan  
Configure the monitoring
process
 
(Created by author)

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Problem assumptions
Analyzing the entire business plan, it can be assumed that for introducing the effective
3D printer, huge amount of electrical waste is required (Perry, 2017). However, it has been
identified that crisis of electronic wastage has become one of the major concerns for developing
the business plan. On the other hand, it is true that health of human has become one of the major
concerns for implementing the plan. Most of the waste, which are being identified are already
half burnt. In this case, sending it for the further process, where huge amount of harmful gasses
can bring negative impact on the environment. In case of developing the business plan, the
supply chain and community engagement can brought another problem. As in most of the cases,
the old electronic devices are being exchanged by the companies with new products, in that case,
convincing the people for contributing in the supply of raw material can be challenging. Due to
increasing competition in the market, most of the organizations have contributed in different
sustainability initiatives. In this case not only the product initiative but also the effective
promotional strategy will be required for sustaining in the market. By continuing this it can be
said that the 3D printer will be new concept in the market, if the business plan will not be
appreciated by the community in that case huge financial loss can be faced by the entrepreneur
(Perry, 2017).
Conclusion
In this study, it can be concluded that in the competitive business environment, waste
management has become one of the important business strategy for sustaining in the market. Due
to increasing industrial wastage and environmental pollution, the health and well-being of human
have got affected. By introducing the 3D printer by using the electronic wastage, it will be easier
for the entrepreneur to grab the attention of large numbers of customers. Analyzing the emerging

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problems faced by the industrialized countries, it can be said that the business plan can play an
effective role for reducing wastage and introducing the cost effective business plan. If the
business plan can be successfully implemented, it will be beneficial for the entrepreneur to
achieve the business goals by gaining high profit.

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Reference list and bibliography
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