Business Plan Simulation for Entrepreneurship

This assignment examines the effectiveness of using business plan simulations to enhance students' understanding of entrepreneurship. It encourages an in-depth analysis of relevant research articles, exploring various methodologies and outcomes associated with this teaching approach. Students are expected to synthesize information from provided sources to understand how business plan simulations contribute to a deeper grasp of entrepreneurial concepts.

Business plan

Executive summery
This report covers the details of the effective management of the various external or
macro environmental factors related to the business operations that are been taken into the
consideration by the company producing 'Pollution eating bicycle'. The effective business plan
will help the company to improve the quality of the various components that helps in the better
handling of the different operations of the company. Besides this, the effect of PESTEL and the
three major components of PESTLE analysis is been discussed in this report. The political
factors such as governmental instability, the technical factors such as rise in the similar products
and environmental elements such has increase in environmental concerns, will lay a deep impact
on the operations of the company and improve its CSR.

Table of Contents
INTRODUCTION...........................................................................................................................1
Report.....................................................................................................................................1
PESTEL analysis ...................................................................................................................1
Examination of three PESTEL factors for Pollution eating bicycles....................................3
Recommendation....................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
The effective business plan will help the company to improve the quality of the various
operations that are been taken into the proper consideration by the business organisation and
helps in the better growth of the company, leading to development of successful products for
meeting the market requirements (McKenzie, 2017). This report covers the strategy to launch the
'Pollution eating bicycle' in Thai market. It includes the effective external environmental factors
that can affect the operations and growth of the product in the market.
Report
PESTEL analysis
The effective handling of the various operations of the company producing the 'Pollution
eating bicycle' have to look after its better handling that helps in the efficient management of the
various operations that helps in the effective management of the different operations that are
been taken into the company. The operations of the company will be deeply affected by the
various processes that are been followed in the company. The operations of the company will be
deeply affected by the various internal and external factors, where the macro environmental
factors will lead a major role in the handling of the various operations as per the requirements
and the conditions of the market, in which the company operates (Guzairy, Mohamad and
Yunus, 2018). Some major macro environmental factors that affect the operations of the
company, that are been practised in the organisation are:
 Political: The political conditions will primarily lay a deep and significant impact on the
various operations that are been taken into the consideration and their effective handling
that helps in the better management of various operations of the company (Nguyen,
2017). Besides this, the effective management of the different operations that can affect
the development of the 'Pollution eating bicycles' will have an influence of the political
factors of the country as well as on the international level. The supportive political
environment will help in the better development of the products and services. Along with
it, these factor helps in the better management of the various operations that leads to the
effective handling of the various operations in the company. Other than this, the better
political support helps the company to get an effective market platform for development
(Nguyen and Heino, 2017). The government of the Thailand will also promote and will
encourage the use of this Pollution eating bicycle in the country.
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 Economic: The economic factors too plays a very crucial role and lay a very deep and
influential impact on the operations of the company. The positive a growing economy
helps in the better development of the effective measures that lead to the sustainable
development of the product or the services by the company. The effective and growing
economy will provide the company with the better opportunities to grow and develop in
the market, on the other hand, in contradictory to it, the depressive economy will have a
negative impact on the development of the 'Pollution eating bicycles'. Apart from this, the
better economic environment will support the company to have a better market
opportunity to keep the pricing in regard to the economic growth. The rising economy
indicates the increase in earnings of the people and thus the company will place the price
to gain maximum amount of revenue or profit (Wright, Siegel and Mustar, 2017). The
high prices of the local transportation and BTS will help in effective increase in adoption
of the Pollution eating bicycle by the people.
 Social: The business organisation is also impacted by the social factors of the company
that helps in the increase in the growth and development of the company. Apart from this,
the effective management of the various operations will lay a social impact. The concept
of 'Pollution eating bicycles' will lay a positive influence on the society and helps the
company to take into consideration various measures on the better management of the
different operations of the company. Also, it helps the company to identify the various
factors to work upon for the CSR. Other than this, the effective rise in the awareness to
take in consideration various health improving measures will lead to the increase in
demands of the pollution eating cycle.
 Technological: This is the most crucial and vital factor that is required to be taken into
better consideration by the company. The effective use and development of the various
technologies and gadgets will help the company to attract the maximum number of
potential customers as well as the investors for the company (Nguyen, 2017.). Besides
this, it will help the company to develop an innovative product for the company that helps
in the better management of the various operations of the company and fulfil the demands
that leads to the effective management of the various operations of the company. The
development of better technologies will help the company to effectively measure the
growth and meet the customer's requirements and demands in order to gain a better share
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of the market growth and customer satisfaction with their loyalty (Melchiorre and
Johnson, 2017). The effective technology of air purification will help in its effective
usage and will act as the major advantage for the better management of the sales of
pollution eating cycles.
 Environmental: The concept of 'Pollution eating bicycles' is been developed, keeping in
mind the effective handling of the pollution in the environment. Various operations that
are been kept into the consideration by the effective management of the various
operations that are been taken in consideration that help in the effective management of
the various operations at the business firm (Swamidass, P., 2016). The effective increase
of the awareness among the people to use the 'Pollution eating bicycles' for the
betterment of the society that helps in the effective rise in the sales of the products and
services of the company to fulfil the requirements of the customers in a very effective
way. The gradual but enormous rise in the pollution level all over will lead to people to
opt for the cleaner and safer version of transportation like pollution eating bicycle.
 Legal: The legal factors too, play a very crucial and significant role in the development
of the various products and services of a business firm (Laud, Betts and Basu, 2015).
Other than this, any sort of legal obligation that is been implemented or imposed on the
business firm is required to be taken into the appropriate consideration by the company,
to effectively run its business operations. On the other hand, any sort of legal glitches or
the problem that is been faced by the company is required to be avoided for the better
management of the various business operations of the company, leading to the rise in its
profitability and productivity (Branas and et.al., 2017). The no pollution quality of the
bicycles will help in the effective management of the various legal measures and
obligation in country.
Examination of three PESTEL factors for Pollution eating bicycles
The 'Pollution eating bicycles' is an innovative concept that will aid into the better
controlling of the pollution in the cities and helps in reducing the carbon footprints of the
vehicles and industries that are been working in the urban areas. Besides this, the bicycle is an
economic, accessible and easy to use product which causes no pollution and is widely popular
among the people of many countries around the globe (Watson, McGowan and Cooper, 2016).
The organisation that is been working over it will be deeply affected by the internal as well as the
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external environmental factors that helps in the better development of the different products and
services in the organisation. The various PESTLE factors that will lay a very deep impact on the
operations on the organisation manufacturing 'Pollution eating bicycles' are as follows:
 Social factors: The social conditions of the Thailand are changing tremendously with the
globalisation. With the deep penetration of the globalisation and the development of the
better understanding of the health and social responsibilities will help in the effective
handling of the various operations in the market and will lead to the better management
of the sales of 'Pollution eating bicycle'. The adoption of the healthy trend of going to
gym, working out and increasing in the cycling will help the firm to sale its cycles in the
Thai market. This also give the company an advantage to promote their product. This will
also help in the better management of the various operations of the company in Thailand.
Besides this, the company will generate a better chances of employment for the local
citizens. This will help the company to fulfil its corporate social responsibilities (CSR)
towards the people of Thailand. Apart from this, it will help in maintaining a social
equilibrium by leading to all majority of all the aspects of the society riding a common
form of transportation. Besides this, it will help in providing the better technology and
promoting the well being in Thai society. The effective handling of the various operations
also helps in impacting the social uniformity and togetherness in Thailand.
 Economic factor: With the increase in the cost of the crude oil and fossil fuels around
the globe, the cost of the transportation has increased enormously increased to a wider
extent. Thus, the cost of travelling is getting competitively high in Thailand, making the
general or the local transportation quite expensive for the common people of the country.
Thus, the people are looking as an alternative which is economically cheap and accessible
to all the section of the society. In such case the 'Pollution eating bicycle' will emerge as
the major alternative ad solution to their problem. The people will adopt it as the major
advantage over the local transportation as it is economic, safe and don't require any
specific knowledge to use. Besides this, the maintenance cost of the bicycle is
comparatively low in reference to the other means of transportation. The high cost of the
local transportation or BTS will lead to people purchasing and using the 'Pollution eating
Bicycle' that will help in rise of the sales of the bicycle in the Thai market. The bicycle is
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the cheapest, easy to use and economic mode of transportation, that will be easily
accessible to all the section of the society, in respect to the economic differences.
 Environmental factors: The major concept behind the 'Pollution eating bicycles' is the
rise in the environmental concern of the people towards the rise of pollution level all over
the world. The people are been devoid of the pure and safe air to breath in. Thus, in this
case, then use of such vehicle's have been come up as the major benefit for the
environment. Apart from this, the effective handling of the various measures will lead to
the rise in the improvement of the environmental factors that affect the operations of the
company (McKeever, 2016). Besides this, the better management of the different
operations at the business firm will lead to the better management of different innovative
measures that are required to be taken into the consideration by the people. The
organisation has to take into consideration various environmental factors that impact the
operations of the company. The rise in the pollution level of Bangkok city has been the
major factor affecting the overall operations of the company. These will increase the sale
of the Pollution eating Bicycles in the Thai market. Also, the company will promote it for
better fulfilment of its CSR.
Recommendation
Various innovative measures are been required to be taken into the consideration that
helps in the effective development of the various operations in the company. Apart from this, the
implementation of the various operations will lead to the rise in the effective handling of the
different factors that can affect the growth and well being of the different operations of the
company affecting its profitability and productivity. Other than this, the better management of
various operation also provide the better customer satisfaction level and meet their requirements
in a very effective way(Brinckmann and et.al., 2015). Some major recommendation that can be
taken into the consideration by the company are:
 Better assessment of the various political or governmental requirements that are needed
to be fulfilled to have a better share of the growth and productivity that helps the
company for the better revenue generation and meeting the needs and demands of
customers or clients. Other than this, the effective political support will help the company
to get access to large number of customers (Hayter, Lubynsky and Maroulis, 2017). The
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support from the government of Thailand will lead to the rise in the profitability and
productivity of the company by increasing its operational funding.
 The use of green and clean technology will help in the effective handling of the various
measures that helps in the rise of environmental benefits and the innovative aspect of the
organisation. This will help the firm to meet the requirements of the customers in a very
effective manner and fulfil them for better sustainability and profitability of firm (Yu and
Wiklund, 2015). The rise in the awareness towards the nature among the Thai people will
be the major factor and competitive advantage for the Pollution eating cycle that will help
in the effective rise in the overall operations and better selling of the bicycles leading to
the rise in productivity and profitability.
 The production, manufacturing and promotion of the Pollution eating cycle will help in
the effective management of the various operations in the company as well as on the
market level in Thailand. This will not only provide the company with better work force
but also with the effectively large number of potential customer's, which will lead to the
rise in its productivity and profitability.
 The technological advantage of the bicycle to convert the impure air into the pure
breathable air will help the company to promote its product an services and attract the
maximum number of customers. Also, it will give the company with a competitive
advantage and have maximum number of customer's or users in the Thai market. The
usage of rechargeable battery to run the bicycle automatically can be a major break
through for the company.
 Besides this, the Pollution eating bicycle will emerge as a major mode of economic
transportation. The high cost of BTS and other local transportation methods will help in
the effective handling of the various operations of the company. It will be easily
accessible and usable by all the section of the Thai society. Besides this, it will emerge as
the cheaper mode of conveyance for people.
CONCLUSION
Thus, from the report it can be concluded that the various external environmental factors
will lead to the rise of different operations that causes the improvement of the various operations
to improve the productivity and profitability of the company. The report covers the strategy to
launch the 'Pollution eating bicycle' in Thai market. These includes the effective assessment of
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external environmental factors, that affects the operations and growth of the product or service in
the Thai market.
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REFERENCES
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