Occasion Software: A Business Plan for Event Management

REPORT ON OCCASION
SOFTWARE
1

TABLE OF CONTENT
EXECUTIVE SUMMARY.............................................................................................................3
ACKNOLEDGEMENT...................................................................................................................4
CHAPTER 1: THE INTRODUCTION...........................................................................................5
1.1 The rationale of the business opportunity:.............................................................................5
1.2 Scenario chosen:....................................................................................................................6
1.3 Mission:.................................................................................................................................6
1.4 Vision:....................................................................................................................................6
1.5. Aim:......................................................................................................................................6
1.6 Objectives:.............................................................................................................................6
Research question:.......................................................................................................................7
1.7. Dissertation structure:...........................................................................................................7
CHAPTER 2: THE BUSINESS CONCEPT...................................................................................8
2.1 Introduction:..........................................................................................................................8
2.2 Description of business concept............................................................................................8
2.3 Product/ service description...................................................................................................9
2.4 The target market:..................................................................................................................9
2.5 Positioning strategy...............................................................................................................9
2.6 Value added...........................................................................................................................9
2.7Who is involved......................................................................................................................9
2.8Window of opportunity...........................................................................................................9
2.9 Chapter summary...................................................................................................................9
CHAPTER 3: THE LITERATURE REVIEW................................................................................9
3.1 Introduction:..........................................................................................................................9
3.2 Industry analysis:.................................................................................................................10
3.3 Chapter summary:................................................................................................................18
CHAPTER 4 RESEARCH METHODOLOGY............................................................................18
2

Research type:............................................................................................................................18
Research approach:....................................................................................................................19
Research philosophy..................................................................................................................19
Research design.........................................................................................................................19
Data analysis..............................................................................................................................20
Data collection...........................................................................................................................20
Ethical consideration.................................................................................................................21
Reliability and Validity..............................................................................................................21
Research limitation....................................................................................................................21
CHAPTER 5 DATA ANALYSIS AND FINDINGS....................................................................22
Theme 1: Impact and benefit of new business concept:............................................................22
Risk:...........................................................................................................................................23
Risk mitigation strategies:.........................................................................................................24
Cost and cost projection for new venture:.................................................................................25
Performance review of business plan:.......................................................................................27
CHAPTER 6: CONCLUSION AND RECOMMENDATION.....................................................28
Recommendation:......................................................................................................................29
REFERENCES..............................................................................................................................32
3

EXECUTIVE SUMMARY
Software is a set of program which is used by computer to provide the operating information
from where an individual can perform the work in definite manner. Using the software for
different work purposed it helps the people to perform their work activities in successful manner
and can deliver the result accordingly. In this current report, it will mention a business plan
where a software named Occasion will help the event management companies to manage their
events in definite manner and can furnish the events in definite way. Study will follow the
business plan and research structure where it will highlight the introduction, business concept,
literature review, methodologies and even findings and analysis along with recommendations
and conclusion sections.
4

ACKNOWLEDGEMENT
I would like to acknowledge appreciation and support given by my professor in order to
complete this study. Before that I was always thinking that I will be able to complete this or not
but throughout the study my professor supported me a lot, for that I would like to give my
warmest thanks to my professor. I would also like to thanks my peers who have motivated me in
completing my study, I always got support from them whether it’s about resource arrangement or
other things they have always supported me. And finally I would thank my parents or other
family members who have shown trust in me that is why I am able to complete this project at
good point.
5

CHAPTER 1: THE INTRODUCTION
1.1 The rationale of the business opportunity:
Occasion software is new business software which is best in planning small scale event
including birthday party, ring ceremony, wedding, music and dance and other community event
that require effective planning. This software application helps event planner to quickly get idea
how exactly an event will be going to look and how much will it cost, this software has certain
features that remind user to perform certain tasks to make an event more successful (Kutrzeba,
2017). There are many cases where event planning tools are used to bring human efforts low, this
business idea was carefully examined with proper understanding of market and demand of such
type of application. Every human work is not easy to perform because with the help of software
application that are designed in such a way that human efforts, time and money are saved in
proper manner.
Background to the research:
Business plan is one of the most common terms in business world, plan may include step
by step process to start a business idea and serve customer. Entrepreneurs who craft effective
plan knows insight and opportunity of the industry, they try to catch those opportunities and
convert them into business idea (Moro Visconti, 2019). This research is based on event
organizing software called Occasion, it is very clear that there is high demand of mobile phone
application, these demands occur according to change in customer preference and trend in the
industry. Every individual need smart phone to plan and explore different area, there are number
of application available that allow user to bring easiness in their daily work (Frederick,
O'Connor and Kuratko, 2018). This business plan is based on idea that can bring easiness in
planning important event or occasion, this software application not only plan event but this
allows user to add certain other things for example, add list of guest, timer, reminder, planner
and introducer that help user to make their event perfect and meet the demand according to
requirement. Everyone in today’s market looking for quick services and in event industry it is
necessary to arrange all arrangement earlier before the event. Therefore, this Occasion software
will help in arranging all necessary arrangement so that there will be no chances of any failure.
Current market data suggests that such software are in demand that helps in providing efficient
and quick result.
6

1.2 Scenario chosen:
There are many cases where people miss important things in the party or event because
they have not planned properly, sometimes birthday and occasion get spoiled because of this
reason. It is very clear that there is less supply of those application that plan accurate event for a
user, this business idea will cover all those weak points or missed out features that are required
when planning a wonderful event. This business idea not only going to solve event related
problem, but this idea will generate surplus profit as occasion and event are ongoing activities of
human life. It is a new business Idea behind selecting ‘Occasion’ as business plan intents to
capture greater market where different platforms are available for different work but there is
limited platform that plan and organize events for special occasion (Ekanem, 2017).
1.3 Mission:
 Mission: This software application will include certain features and facility that allow
user to get super experience, and this will help them to avoid any mistake that bring down
excitement of the event.
1.4 Vision:
 Vision: Event planning is one of the most challenging tasks for individuals, these events
are either in large scale or in small house party. Vision is to become leading event
management application.
1.5. Aim:
To develop and assess a business plan for proposed idea of launching/ developing a new
application software named ‘occasion’. Its main functionalities is that it helps in providing best
booking experience and helps in creating more repeatable bookings (Balkan, 2019). It showcases
user’s experience with attractive and irresistible calendars as well as it let the event companies to
manage their occasions. Other functionality of this software also suggests that it cut down the
spent time on admin so event firm can easily focus on growing their consumer base.
1.6 Objectives:
 To propose the strategies for making a business venture successful.
 To identify the challenges in launching a new business idea/ venture.
 To measure effectiveness of proposed business idea ‘’Occasion‘’ in terms of profitability
or key performance indicator.
7

Research question:
 What are the best strategies for making a business venture successful?
 What are the challenges in launching a new business idea/venture?
 How to measure effectiveness of proposed business idea in terms of profitability or key
performance indicator?
1.7. Dissertation structure:
Chapter one: The introduction with background of the research or study and background of the
organization chosen in the study. Later significance and statement of the problem describing why
this plan is important to solve an issue. For the completion of this research, aims and objectives
with research question will be discussed.
Chapter two: The literature review with proper themes covering every possible aspect to
complete this study in effective manner. LR will focus on best strategies for making an business
successful, challenges that will arrive in the process of introducing the idea and ways to measure
effectiveness of business plan with profitability and key performance indicator.
Chapter three: Research methodologies that focus on every element of research methods
including research philosophies, approach, strategy, design. RM will focus on data collection and
data analysing process with sampling and primary methods. RM will focus on ethics and
limitation of the research.
Chapter four: Data analysis and finding will be discussed where primary data will be used to
answer research question and with support from literature review and will focus on using chart,
diagram, tables, figures and finding to perform data analysis in effective and best possible
manner.
Chapter five: Conclusion and recommendation will be provided to complete this research and
summarizing the key point covered in every chapter from the study.
8