Introduction of Solar Printer in the Market

The study discusses the introduction of a solar printer in the market by Power Ltd. to control energy cost and carbon emission. It covers the feasibility, market size, technical aspects, and more. The product targets school, college, office, and other public places. The company plans to sell it through online stores, supermarkets, and malls.

Running head: ENTREPRENEURSHIP
Entrepreneurship
Name of the student
Name of the university
Author note

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Executive summary
In the current business scenario, excessive uses of non-renewable energy have started
creating the market crisis Due to this reason, fuel cost is also increasing in a rapid way. In
order to deal with the situation, demand for substitute energy resources has increased in the
market. In this study, the new idea which has been mentioned is about the introduction of a
solar printer in the market. The company named Power ltd. has decided to bring the product
to the market for controlling the energy cost as well as the carbon emission in the global
energy industry. The solar printer is one of the creative business ideas in the current business
industry.in order to bring the idea to the market the company named power ltd. needs to focus
on grabbing the attention of the customers

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Table of contents
Introduction....................................................................................................................3
Business model canvas...................................................................................................3
Proposed Business Model Canvas..................................................................................5
Market feasibility...........................................................................................................7
Technical Feasibility......................................................................................................9
Financial feasibility......................................................................................................10
Human resource feasibility...........................................................................................10
Conclusion....................................................................................................................12
Reference list................................................................................................................13
Appendix 1...................................................................................................................15
Appendix 2...................................................................................................................17

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Introduction
In the current business scenario, excessive uses of non-renewable energy have started
creating the market crisis (De Massis et al. 2015). Due to this reason, fuel cost is also
increasing in a rapid way. In order to deal with the situation, demand for substitute energy
resources has increased in the market (Slater, Mohr and Sengupta 2014). In this study, the
new idea which has been mentioned is about the introduction of a solar printer in the market.
The company named Power ltd. has decided to bring the product to the market for controlling
the energy cost as well as the carbon emission in the global energy industry. Uses of energy
in the school, office mall and different paces have increased. Due to this reason excessive rate
of energy consumption, it has become very expensive. In this situation the company named
Powered ltd. has introduced the solar printer in reasonable ranges with carbon emission free
features. It is portable and can be carried easily.
Business model canvas
As stated by Tan and Chua (2018), before developing any business model, the
company needs to focus on its Customer segmentation. As the product will be developed for
school, college, offices, hotels and different institution, therefore this can be said that from
the demographic segmentation, the company will focus on income level and age. The people
who mostly visit in the public places are being targeted by the company. On the other hand,
depending on the income level, middle class and lower class people are being targeted by the
company.
If the value proposition of the product is being analysed, it will be identified that the
company will provide the portable solar printer with the zero carbon emission (Wagh and
Walke 2017). The main feature of this product is it will be able to print 3 papers at a time,
which is quite unique in the market. As the organization has decided to provide this product

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in the reasonable range in the market, therefore, with its reasonable price it will be able to
grab the attention of the customers.
Customer relationship is very important in the case of introducing any product in the
market (Arafa, Said and Elwany 2017). Due to increasing consumption as well as its
increasing cost, people have become worried about the situation (Tsalikis and Martinopoulos
2015). On the other hand, due to various campaign from government and nongovernmental
organizations, people have become conscious about the environmental pollution. In this
situation, this kind of initiatives will help to attract the customers towards it.
Market research can be considered as the major activity of the company (Kannan and
Vakeesan 2016). Before developing any product on the market, the company needs to focus
on analysing the competitive products in the market. In this situation the concept, which will
be developed in the market needs to be tested before introducing in the market. By analysing
the current market situation the product will be commercialized by the company so that
people will be informed about it (Eicker, Demir and Gürlich 2015).
Key resources of Power Ltd. is its employees. By using the modern technologies in its
products the company has got the chance to increase the quality of its product. On the other
hand, this can be said that the manufacturing cost of the product is low, this will be helping
the company in the case of dealing with the financial risks. Brand value, partnerships,
employees, customer database and technological resources are the major strength of the
company.
In the energy industry, the key partners of the company are the local news channel,
suppliers and stakeholders are the key partners of the company. If the business revenue
structure of the company is being analysed, it will be identified that

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Proposed Business Model Canvas
Key Partners
 Energy
meter
manufacturer
 Solar
installation
organizations
 Research
centers
depending
on
sustainability
 Advertisers
 Associates
 A cluster of
brands and
many more
 Subsidiaries
Key Activities
 Webservice
device
 Sales
 Direct
purchasing
 Supply chain
management
 Merchandisin
g
 Refresh stores
Value Propositions
 Carbon
emission free
product
 Advanced
and portable
technological
device
 Great range
of
promotions
and
discounts
 Availability
in
supermarkets
 Commercial
energy audits
 Leed
certification
Consumer
Relationships

 Long term
service
 The
organizational
culture of
consumer first
 Price based
 Users
community
 Various
discount offers
for the loyal
customers
 Customer
satisfaction
Key Resources
 Analytic
Channels
 Smart Appliance Service and Repair
Consumer Segments
 Huge potential

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engine
 Existence
 Recognising
trends in
order to
observe
scope for
new products
 Brand value
 Superior
technological
knowledge
product stores
 Websites
 Supermarkets
 Discounts
 Social media
market
 price sensitive
Cost Structures
 Assets
 Offices rent
 Cost of goods
 Existence
 Rent
 Vehicles
 Promotion of solar printer and
marketing
 Wages
 Licenses
 Logistics expenses
Revenue Streams
 Online sales
 Door-to-door repairing services sales
 Onetime installation charge

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 Taxes
 Maintenances
Source: created by author
Market feasibility
Market size is an important element in order to develop any business. As the product
solar printer is being introduced for public uses in daily life, therefore this can be said that the
market size of the company is large (Good, Andresen and Hestnes 2015). This product is
going to be introduced with the features of portability and zero carbon emission. As the study
has repeatedly discussed that due to increasing the energy consumption in the market the
demand for solar energy has increased, therefore, this can be said that the demand for solar
printer in the market has increased. If the growth rate of solar energy industry, it will be
identified that within the last 5 years the industry has grown up in the noticeable way
(Bernechea et al. 2016). It has been analysed in this study that the company needs to focus on
the process of managing the business properly. In the industry with the increasing rage of
demand, the number of solar energy producing organizations have also increased. However,
it has been also identified that the products, which consumes electricity are quite faster than
the solar energy consuming products. On the other hand in the case of climatic disturbances,
these products cannot work properly. Hence, this can be said that this is the biggest threat for
the company to run with the competitors. If the current business trend in the entrepreneurship
is being analysed, it will be identified that the near about 60% of total GDP is being
contributed by the small business organization (Iwan et al. 2015). If the global solar trend is
being analysed, it will be identified that the last year sola market has grown up 26%. In the
year 2018, the demand for solar products have increased in the market (Aman et al. 2015).
Therefore, this can be said that, in this situation the carbon emission free product in lower
range can grab large number of customers’ attention. As the product, which will be

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introduced in the market is being provided for school, college and office use, therefore, this
can be said that it has large market segmentation. In the energy industry, it has targeted the
customers who have already influenced by the solar products and its effectiveness. This
product will be introduced in the market in reasonable price. Therefore, this can be said that
the middle class and lower class people are being targeted by the company. On the other
hand, the people who are found of technology, they are also in the target list of the company.
Depending on the geographic segmentation, it has targeted the people who lives in urban
areas.
The company has decided to sell its products through online stores. On the other hand,
it will also sale its products through the different super markets and malls. In the current
market scenario, solar printer will be the unique product in the market, which has not been
introduced by any organization in the Australian industry (de Souza et al. 2018). Therefore,
this can be said that the company will not face any kind of threat regarding the similar
products in the market. However, it has also been identified that there is a large number of
organizations in the market, which are popular for producing solar energy in the market such
as the Little sun, Tindo solar, Solar Australia and many more. These organizations can create
tough competition for the organization. On the other hand, there are many organizations,
which have gained the customer's satisfaction by producing effective products, which can
also impact on the organizational development. The business has been developed in Sydney.
This can be said that the product will be able to grab the attention of a large number of
customers.
Technical Feasibility
In the current business scenario, demands for technology has increased in the market.
People have become choosy for selecting the brand and technology (Margraf et al. 2016).

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Therefore, this can be said that in order to go with the flow, the organization needs to focus
on bringing the changes in its promotion and marketing practices. This can be said that if the
modern instrument is included in the company, it will be helping the company to grab the
attention of the customers. On the other hand, this can be said that through this process, the
efficiency of the employees increased. With the rapid technological development and
changing demand of the customer, can bring the challenges to the company (Islam et al.
2016). In order to produce the product, the company needs to focus on convincing the
investors. There are various legal operations such as licencing, permission, vehicle
registration and many more. All the activities are being done by maintaining the financial
budgeting. In the case of marketing, the company has invested in advertising, online
promotion and left lates. As the product will be introduced for grabbing the attention of the
customers who mostly visit the public places, therefore this can be said that this will be the
effective process for attracting them. In order to develop the business in the market, the
company will adopt the merge and acquisition strategy. By following this strategy, the
company will be able to get the large customer base. It will appoint many sales executives in
different parts of the country for promoting its products. As the study has repeatedly
discussed that uses of modern technology have increased in the current business industry,
therefore, this can be said in order to compete in the industry, the company needs to focus on
bringing the development in its internal structure. In order to improve the kills of the
employees' different training and development programs needed to be introduced in the
workplace. On the other hand, by developing a healthy relationship with the suppliers, the
company needs to focus on managing the supply chain management process in the better
manner. Different transport and safety facilities needed to be provided, for making a
smoother distribution process.

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In order to maintain the legal formalities, the company needs to focus on maintaining
the employee rules and regulations in the organization. The employment Act 1955 and
employment safety act 2002 are being maintained in the organization for managing the
internal situation. On the other hand, for maintaining waste management the Environmental
Act 1986 is being maintained by the company. It has been identified that the company
maintains the ethical standard as the partnership rules and regulations properly. After
analysing the entire study, this can be said that any kind of ethical issues has not been found
in this study. The company proper follows all the legal procedure in order to develop its
business.
Financial feasibility
It has been identified that the projected revenue which has been identified that in the
first month 30000, in the second month 80000. The product price has been selected $4000per
unit. From the market research this can be said that the projected sales volume will be $3000
in the first month. The selling price of the product is $4200. The total expected revenue is
$20000. It has been identified that the total start-up cost of the company is 149670. From the
profit loss statement this can be sad that it with in last three years the cost will be
$2988941744. The company will take the loan from the bank. The EMI and taxation charges
will be included in this charge. This can be said that the company needs to focus on bringing
the changes in its financial structure. Proper budgeting can be very influencing in the case of
dealing with the situation.
Human resource feasibility
As the company has decided to bring the innovation in the market, therefore, it needs
to focus on introducing modern technology in the workplace and provide training for making
the employees efficient in their work. Information technology, mathematical skill,

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programming language and mechanical equipment need to be managed in the workplace. It
has been also suggested that if the interpersonal skills will be developed, this will be
beneficial for the company. Leadership skill is also required ion the case of managing the
employees (Bernechea et al. 2016). The three major skills such as human skill, conceptual
skill and technical skill is required in the case of developing a strong management team. In
the organization the entrepreneur, manager and technical expert have their different
responsibilities. The employees are being hired by the manager and training and development
process are being done by the supervision of the manager. This is the responsibility of the
manager is to clarify the goals and objectives of the company to the employees. On the other
hand, the entire organizational operation is being handled by the manager. The role of a
technical expert is to develop the management tool so measuring the performance of the
employees. Different innovation and programs are being introduced by the technical expert.
Organizational software and hardware related matters are being handled by the technical
expert (Bernechea et al. 2016). The entrepreneur develops the new business ideas and
implement through the manager in the organization. This can be said that in order to
implement the plan, the company needs to recruit 1000 employees in the first year. After that
it can be increased as per the demand for production. For measuring the performance of the
employees, the proper monitoring process is needed to be developed in the organization. In
order to motivate the employees different and compensation needs to be provided in the
organization. Holiday trip can be provided to the employee and their family members after
achieving a specific target. This will increase the employee engagement in the company. In
order to maintain the performance quality in the organization, the employees are required to
be providing technical training. The company mainly focuses on providing the good quality
of products in the market. By providing the efficient quality of service, it aimed to grab the

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attention in the market. It has also focus on recruiting large number of employees, for
contributing in the employment rate of this country.
Conclusion
In the above study, it can be concluded that solar printer is one of the creative
business ideas in the current business industry.in order to bring the idea to the market the
company named power ltd. needs to focus on grabbing the attention of the customers. On the
other hand, it has also analysed that if the company needs to increase the rate of profitability,
an appropriate business idea needs to be developed. As the product is the combination of
creativity and innovation, therefore, this can be said that it will be able to bring the changes in
the current business industry. As the demand 9f solar products have increased in the market,
hence by bringing the innovative product in the reasonable range, power ltd. Will be able to
increase its' rate of profitability.

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Reference list
Aman, M.M., Solangi, K.H., Hossain, M.S., Badarudin, A., Jasmon, G.B., Mokhlis, H.,
Bakar, A.H.A. and Kazi, S.N., 2015. A review of Safety, Health and Environmental (SHE)
issues of solar energy system. Renewable and Sustainable Energy Reviews, 41, pp.1190-
1204.
Arafa, M.I.A., Said, E.S.S.A. and Elwany, M., 2017, December. An optimized design criteria
of non-outage and power reduction for hybrid solar-grid system (residential homes—case
study). In Power Systems Conference (MEPCON), 2017 Nineteenth International Middle
East (pp. 59-62). IEEE.
Bernechea, M., Miller, N.C., Xercavins, G., So, D., Stavrinadis, A. and Konstantatos, G.,
2016. Solution-processed solar cells based on environmentally friendly AgBiS 2
nanocrystals. Nature Photonics, 10(8), p.521.
De Massis, A., Frattini, F., Pizzurno, E. and Cassia, L., 2015. Product innovation in family
versus nonfamily firms: An exploratory analysis. Journal of Small Business
Management, 53(1), pp.1-36.
de Souza, J.D.S., de Andrade, L.O.M., Müller, A.V. and Polo, A.S., 2018. Nanomaterials for
solar energy conversion: dye-sensitized solar cells based on ruthenium (II) Tris-heteroleptic
compounds or natural dyes. In Nanoenergy (pp. 69-106). Springer, Cham.
Eicker, U., Demir, E. and Gürlich, D., 2015. Strategies for cost efficient refurbishment and
solar energy integration in European Case Study buildings. Energy and Buildings, 102,
pp.237-249.

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Good, C., Andresen, I. and Hestnes, A.G., 2015. Solar energy for net zero energy buildings–
A comparison between solar thermal, PV and photovoltaic–thermal (PV/T) systems. Solar
Energy, 122, pp.986-996.
Islam, M., Mun, H.S., Bostami, A.B.M., Park, K.J. and Yang, C.J., 2016. Combined active
solar and geothermal heating: A renewable and environmentally friendly energy source in pig
houses. Environmental Progress & Sustainable Energy, 35(4),
Iwan, A., Boharewicz, B., Tazbir, I., Malinowski, M., Filapek, M., Kłąb, T., Luszczynska, B.,
Glowacki, I., Korona, K.P., Kaminska, M. and Wojtkiewicz, J., 2015. New environmentally
friendly polyazomethines with thiophene rings for polymer solar cells. Solar Energy, 117,
pp.246-259.
Kannan, N. and Vakeesan, D., 2016. Solar energy for future world:-A review. Renewable
and Sustainable Energy Reviews, 62, pp.1092-1105.
Margraf, J.T., Lodermeyer, F., Strauss, V., Haines, P., Walter, J., Peukert, W., Costa, R.D.,
Clark, T. and Guldi, D.M., 2016. Using carbon nanodots as inexpensive and environmentally
friendly sensitizers in mesoscopic solar cells. Nanoscale Horizons, 1(3), pp.220-226.
Slater, S.F., Mohr, J.J. and Sengupta, S., 2014. Radical product innovation capability:
Literature review, synthesis, and illustrative research propositions. Journal of Product
Innovation Management, 31(3), pp.552-566.
Tan, J.A. and Chua, A., 2018. Design of a Mechatronic Sensor System for Solar Energy
Demand Based Monitoring. Journal of Telecommunication, Electronic and Computer
Engineering (JTEC), 10(1-5), pp.41-45.
Tsalikis, G. and Martinopoulos, G., 2015. Solar energy systems potential for nearly net zero
energy residential buildings. Solar Energy, 115, pp.743-756.

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Wagh, S. and Walke, P.V., 2017. REVIEW ON WIND-SOLAR HYBRID POWER
SYSTEM. International Journal of Research In Science & Engineering, 3.
Appendix 1
Start-up Costing for Power Ltd.- 2018
START-UP
COSTS
Cost ($)
EQUIPMENT/
CAPITAL COSTS
Cost ($)
Registration
s
250 Business purchase price 30000
Business name 1250 Franchise fees 37000
Licences 150 Start-up capital 90000
Permits 260 Plant & equipment 36292
Domain names 1250 Vehicles 23628
Trade
marks/designs/patents
2500 Computer equipment 53829
Vehicle registration 1623 Computer software 12259
Membership
fees
650 Phones 12000
Accountant
fees
1000 Fax machine 12361
Solicitor fees 4700 Security system 15000
Rental lease
cost (Rent
6500 Office equipment 38392

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advance/deposit)
Utility
connections & bonds
(Electricity, gas, water)
7000 Furniture 65000
Phone
connection
1500 Shop fit out 12572
Internet
connection
1500
Computer
software
2000
Training 8000
Wages 24000
Stock/raw
materials
30000
Insurance 6000
Building & contents 6500
Vehicle 4500
Public liability 2367
Professional
indemnity
2629
Product liability 6373
Workers
compensation
1437
Business assets 2273
Business revenue 9000

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Printing 2738
Stationery &
office supplies
6282
Marketing &
advertising
5438
Total start-
up costs
149670
Total
equipment/capital costs
438333
Appendix 2
Profit & Loss for Power Ltd. as at 2018
PROFI
T & LOSS
Month 1
Month
n
Year 1 Year 2 Year 3
Sales 50000
10000
0
900000
6500000
0
94000000
less cost
of goods sold
30000 80000 500000
4500000
0
65000000
More…
Gross
profit/net sales
20000 20000 400000
2000000
0
29000000
Expens
es 28900 35000 450000 70000 8009007
Accountant fees 28202 2900 23000 30000 63800
Advertising &
marketing
2820 3542 19000 50000 69000

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Bank fees &
charges
31245 45121 500000 79000 95000
Bank interest 2415 3425 40000 59000 97000
Credit card fees 13257 23517 250000 300000 600000
Utilities
(electricity, gas,
water)
25271 30124 35000 40000 700000
Telephone [phone] 66000 89000
Lease/loan
payments
21312 34235 132526 450000 980000
Rent & rates 52622 62829 242523 527900 670003
Motor vehicle
expenses
42626 75236 242627 52789 538393
Repairs &
maintenance
24252 26218 536292 5272892 879078
Stationery &
printing
25222 37257 38393 538392 986756
Insurance 41512 50262 647493 896926 986846
Superannuation 13141 32527 35373 57902 674639
Income tax 12426 24161 356383 427292 639302
Wages
(including PAYG)
62562
1
78624
1
953728
2
9809647
90
30003639
20
More… 4500 5908 80000 100000 1500000
Total expenses 999606
12837
45
132111
72
9899828
83
30179417
44

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NET
PROFIT (Net
Income)
979606
12637
45
128111
72
9699828
83
29889417
44

20ENTREPRENEURSHIP