Smart Shoes Business Idea: Utilizing Ocean Waste for Unique Products

Unit 28

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Business idea:...............................................................................................................................3
Requirement of Tangible and intangible resource in the business:.............................................5
CONCLUSION..............................................................................................................................10
REFERENCES................................................................................................................................1

INTRODUCTION
Business idea is first step in creation of company, this idea are been identified by the
entrepreneur and later completed into a successful business organization. Before starting any
business, an entrepreneur have to create the businesses plan which include idea generation, idea
implementation and idea completion (Saks, 2021). In this report we have discussed business
idea, competitive analysis and concept of business idea. Later we will discuss tangible and
intangible resources which include capital, website, human resource and raw material. Later we
will discuss various online platform and promotional activities. At last, we will discuss types of
venture.
MAIN BODY
Business idea:
Overview:
Smart shoes business idea, this business idea is all about the smart shoes which is been
developed and are been made from the waste from ocean. The ocean waste mainly the plastic
bottles is been used, this business idea is already been used by many big brands such as Adidas.
Smart shoes are been prepared with the impressive and unique designed, which is going to attract
customer to purchase such as shoes. This business idea is challenging but people are going to
like this because this is new and attention grabber.
Product and service:
Product of this business idea is smart shoes which are been made from the ocean waste,
the unique selling point of this business idea is raw material, this raw material are cultivated
directly from the ocean and turn into shoes with skills of the worker (Behnam, et.al., 2021).
There are various other products as well such as clothing products, shoes and slippers, jewellery
and accessories. But the main product of the company is smart shoes made from ocean plastic
waste.
Service: the service provided by the company is after the sale service which comfort the
customer even after the purchase.

Porters five analysis:
Porter five force means identifying and analysing the market and understanding the
dynamic nature, this tool help business organization to understand the movement of the
competitors (Almeida and Santos, 2018). The porter five force model can be understood such as:
Competition in the industry: the competition in the market means the number of rivalry which
can effect the smooth running of the process. Competitors are the biggest barrier in the business
organization, the competition of this business idea is shoes and clothing company who are
already been established and have brand image (Knight, 2017). The biggest competition for this
business idea is Adidas which already a market king and now planning to launch the shoes which
is made from ocean waste. There is high competition in this industry as other large brand are
already have captured the market.
Potential new entry: the new entry in the market means the coming of new companies which
same business idea. The clothing and fashion industry is already been competitive and entry of
new companies disturb the smooth flow of business. This business idea is already have huge
competition and these new entry with high capital budget can win the market and even can give
competition to the already established business organization. Although this business idea is also
new to the market but have a great business concept with the ability to attract potential customer.
Power of suppliers: there certain powers carries by the suppliers and vendors which influence
the business working. Suppliers have important role in the business organization, they provide
raw material at right time with right reasonable price. There are few suppliers in clothing and
fashion industry which provide raw material to the large scale businesses, this business idea of
smart shoes need to contact them to provide the raw material. Although the company need to
cultivate their own raw material from the ocean, but there are some suppliers who are ready to
provide plastic waste from the ocean at the reasonable rate but still they have certain powers
which might affect the business organization.
Power of customer: 'customer is king' this term is been used in the business world to describe
the power of the customer, customer have certain powers in the market which they can use to
influence and effect the business working. Even a small customer base can effect the whole
industry, the customer in fashion and clothing industry have diverse taste and preference which
keep shifting their interest to other business. For this business idea, customer and their preference