Technology Entrepreneurship

This report covers the business case and analysis of technology entrepreneurship, including market analysis, target audiences, competitive analysis, resource and operational plan, financial analysis, risk management, and project plan.

Technology Entrepreneurship

Table of Contents
INTRODUCTION ..........................................................................................................................3
Executive summary .........................................................................................................................3
Description of problem statement....................................................................................................3
Description of the benefits of the project.........................................................................................4
Market analysis................................................................................................................................4
Target Audiences.............................................................................................................................5
Competitive analysis........................................................................................................................5
Resource and operational plan.........................................................................................................6
Financial analysis.............................................................................................................................6
Risk management.............................................................................................................................7
Preliminary Project plan..................................................................................................................8
Conclusion ......................................................................................................................................8
References .......................................................................................................................................9

INTRODUCTION
In the current time technology is the aspect which is highly required and adapted by
businesses in order to sustain and establish long term existence. On the other hand technology is
something which gives additional edge to the company to grow within marketplace in prominent
manner (Giones and Brem, 2017). In the light of rapid technology there are number of people
who are using self owned mobile devices in order cater their varied purposes. In this report a new
idea of smart device app which is an online shopping app is being inculcated by team members
in order to prepare a business case. This report is associated with decision making process of the
project investment of smart device app and cost benefit analysis of the same. On the other hand a
business case is prepared in this report which entails regarding various aspects of a project.
Executive summary
This report is covering aspects which are related to business case. In the business case various
factors are added such as defining the problem and benefits of the projects. Similarity an
analysis of competitors is performed so that to understand strategies which are adopted by
competitors. On the other hand an analysis of market is performed so that to analyse market
condition and to analyse target market.
Description of problem statement
In the current crisis of COVID 19, shoppers are not willing to go to the store and make
purchase and this is the reason that high sales decrement is faced by them. Due to decrease in
customer footfall business are making new plans in order to reinstate their business and attract
large number of customer so that to provide ease to them and meeting their standards and needs.
Due to the COVID-19 pandemic retail industry is facing huge crisis and declined market capture
and this is the reason that they are prone to incline towards digital shopping via using mobile
apps (Muriana and Vizzini, 2017). In order to sustain in the market and to overcome COVID
situation businesses are activating their online presence and developing mobiles apps to prove
the same. The major objective of this project is to enhance sales and customer footfall so that
stability can be unleashed in the market. On the other hand this mobile app is offering user
friendly platform which can be used by any person and provide assistance in enhancing their
shopping experience as well. Similarly as in current time online presence of each business is
highly acceptable and commendable this is the reason that they are required to prove their online

presence and stay within needs of their customer. In order to satisfy market needs and customer
requirement the mobile app is being developed by business which is leading the company in
attaining high end business objectives along with high term market presence.
Description of the benefits of the project
As in current market the liking for mobile usage is high and this is creating high end
opportunities for the mobile app to inhale success. In the situation of pandemic people are not
willing to face any risk which is associated in physical shopping method. So as to deal with this
aspect businesses are developing their own apps so that to show their online presence and to
meet needs of their customer in advantageous manner (Matejun, 2016). The prominent feature of
the developed mobile app is that this is highly user friendly which attracts high customers to use
the same so that to enhance their shopping experience. There are so many alternatives in the
market and these are homogeneous in nature so in order to maintain distinctiveness the
developed app is acknowledged with so many pros by which needs of potential and existing
customer can be met in proper manner. Similarly due to COVID crisis businesses are facing loss
of customer and sales as well so this is imperative that they initiate strategies in order to increase
their sales and customer base. By using mobile app customer can look after so many option
within their buying decision and go through them so as to make decision for their buyer
experience. The major aim of this app is to reduce risk of COVID and to provide high end
shopping experience as well.
Market analysis
This is defined as the aspect in which various decisions are required to be taken by the
business in order to place their new mobile app within marketplace. This aspect is associated
with market needs and demands and all those strategies which are required in order to satisfy the
same. Some of the aspects are elaborated as under:
Market segment: As the new app is dealing in clothing so market for clothing is limitless when
app is used by mass audience. The market for the same is majorly targetted at young population
so as to meet their needs and fashion demands (Kraus and et.al., 2018). On the other hand
markets segment can be defined as the place in which product or services is going to be take
place. In this context the users those are willing to use apps are major target for the company and
for them the app is being developed.

Market size: The market size for this app is very huge as in current scenario people are willing
to stay at home and satisfy their needs. This app is creating high ease for customer to upkeep
their needs so that to meet their needs the app is having various interface. This app is designed
by understanding market needs and customer objectives in crisis of COVID.
Challenges of entering to the market: The major challenge which is faced by the app is market
capture. As in current market high competitors are existed and every rival is having their own
capabilities to exist in the market. So in order to place this product within marketplace so many
marketing strategies are required to be placed so that distinctiveness (Kleine and et. al.., 2018).
Target Audiences
The market is having various characteristics and each segment is laced with their own
capabilities and characteristics. When a product or service is newly introduced in the market then
this is imperative that these are introduced in order to satisfy needs and aims of a particular
segment so that to inhale success. On the other hand in context of this app, the major concern of
the company is to focus on high income group. Similarly location is the other constraint which is
linked with target market. So the major bifurcation is based on income and location. In this
context this app is focusing on meeting needs of various market segment so that high end success
ratio can be ascertain.
Competitive analysis
In market there are high number of competitors which are existed so that in order to deal
with the same this is imperative that rivals are examined in such a manner that their strengths and
weakness can be analysed. In current time all the organisation are providing their product and
services by taking help of online platform. This app is facing intense competition in the same so
this is necessary that strategies which are adopted by rivals are recognised, for example as M&S
is using competitive pricing so for the major purpose to deal with rivals the company is required
to analyse their pricing and to stay in the competition they are required to compete in such a
manner that high edge benefits can be attained. Competitors such as M&S and Tesco is
providing range of products in which distinct products are rendered so this is highly essential that
these parameters are checked in proper manner. M&S is providing distinct platform to their app
users in the context of interface and choices of selection. These factors are required to be taken in
mind while developing new app. For instance as app interface of other competitors are user

friendly then this can be treated as common trait which can be taken as additional feature by the
team. Their major focus is to introduce innovative products and those services by which product
and services can be reached to ultimate consumer (Hubbard, 2020). When a business is having
distinct product portfolio they will easily sustain in the market by proving their online presence.
Resource and operational plan
Resources are defined as the sum of those elements which are when added can lead to
collective wealth and converting money into valuable assets. Resources are associated with
infrastructure and equipments which are used by the business in order to render services and
manufacturing of goods so that to meet needs and demands of their customer. Infrastructure is
known as one of the prominent resources in which preparation is done on product or services. On
the other hand other resources are associated with manpower. This can be said that manpower is
the asset for a business and in order to make any project a success highly proficient manpower
and employees are required. Employees are termed as backbone of a company and in order to
upkeep their talent time to time trainings are required to be held. As the project is associated with
technology which is emerging in market so in order to allocate resources in appropriate manner
business is required to emphasis on these factors in particular way. Along with this capital is the
another aspect which is taken by the business in the process of their app development. Capital is
known as the monetary input which is adjusted against the product and services by the business.
These factors are associated with resources and appropriate implementation of the project and to
avoid any prominent barrier. At last the another resource is known as equipment, in the context
of the new app their required equipment is majorly concerned with technological requirement.
These are providing additional benefits to the company in placing their newly developed app in
proper manner.
Financial analysis
Cost benefit analysis is a systematic tool which is used in order to examine benefits of
applied cost so as to determine those options which may lead the business to achieve high
benefits (Sadgrove, 2016). This is defined as the aspect in which strengths are examined of the
organisation and these are applied so that to deal with them in order to earn benefit over them.
On the other hand budgeting is defined as mixture of all the cost which are to be applied on
various areas so as to avoid unfed areas. Financial analysis is known as a major aspect of

business in which monetary related aspects are inculcated and in order to avoid any financial
complexities this dimension is considered as the most significant factor in which project can be
succeeded. The budget for the following project is given as under:
Type Cost ($)
Human resources 10000
Equipment 5000
Infrastructure 10000
Capital 10000
Marketing 9000
App developers 5000
IT installation and security 9000
Risk management
This aspect is defined as examining market risk which may be faced by the business
within their new project. This aspect is highly effective when a new project is launched within
market (Cole, Giné and Vickery, 2017). In the current project there are some risk which are
associated and the same are elaborated as under:
Spending of insufficient time on product strategy: This is the dimension which is associated
with insufficient plan of action. The vision and mission is the prior aspect which is required to be
build in order to be examined so as to translating vision into product strategy. In order to
overcome from the same customised options are required to be given within app so that high ease
can be provided to customers. On the other hand the other risk is of usage for applications, in this
context a robust strategy is required to be propounded so that wide success can be inhaled.
Similarly for developing project competitive research is held by the company so that feedbacks
can be collected and may lead in changing consumer behaviour (Khan and et. Al, 2016).
Picking of wrong platform: The another risk is associated with cross platform and and
management needs. This is known as integration of various factors such as planning and
managing supply chain. One of the prominent risk is stated as risk of choosing wrong platform

for launching of app. This is a very arbitrary decision in which planning process is taking place
so that to initiate other processes.
Preliminary Project plan
This aspect is related with project plan and in this various dimensions are included such
as milestones, deliverables and time estimation. Milestone is defined as the aspect in which
success is examined through which sustainability can be decided. This is known as a very
essential factor in which measurement is established regarding level of success. On the other
hand milestones are the aspect in which project is being divided into parts so as to list its success
and failure chances and probabilities (Fraser and Simkins, 2016).. This is a critical aspect in
which high end planning can be enumerated so that to convert the same into long term success.
Similarly deliverables are defined as the final product or services which are ready for usage of
customers. In the context of the running project deliverables are stated as the app which is
developed by team so as to prove their digital presence and to satisfy needs and demands of their
customers. Deliverables are the most significant factor for the company and the same can be
treated as the success factor. These are the element for which the whole process is taking place
and these are designated to the provide ultimate satisfaction to customer. At last time estimation
is the process in which completion time is to be decided so that project can be completed on the
given time and values can be upheld. Time estimation for this app is six moths as this is a
extensive process so requires huge research and investigation so moderate duration is required.
For this project time estimation is one of the crucial aspect as market is dynamic and needs of
customer are changing on passage of each day so this is highly beneficial for the company that
they develop the app in earliest manner so that this could get fit into needs of their prevailing
customers.
Conclusion
From the above report this can be summarised that in current time technology is leading
the world in context of customer and businesses. In order to pre[pare a business case there are
various dimensions which are required to be inculcated by the company. These include risk
management, analysis of competitors and preparation of project plan. Competitors analysis is
highly essential so as to examine rivals by which competitive strategies can be propounded. On

the other hand project plan is the aspect in which all the steps are associated which are taking
place so as to give plan of action to the project.

References
Books and journals
Cole, S., Giné, X. and Vickery, J., 2017. How does risk management influence production
decisions? Evidence from a field experiment The Review of Financial Studies. 30(6).
pp.1935-1970.
Fraser, J.R. and Simkins, B.J., 2016. The challenges of and solutions for implementing
enterprise risk management. Business horizons. 59(6). pp.689-698.
Giones, F. and Brem, A., 2017. Digital technology entrepreneurship: A definition and research
agenda. Technology Innovation Management Review. 7(5).
Hubbard, D.W., 2020. The failure of risk management: Why it's broken and how to fix it. John
Wiley & Sons.
Khan and et. al, 2016. Dynamic risk management: a contemporary approach to process safety
management. Current opinion in chemical engineering,14, pp.9-17.
Kleine and et. al.., 2018. Building technology entrepreneurship capabilities: An engineering
education perspective. In Entrepreneurial Universities. Edward Elgar Publishing.
Kraus and et.al., 2018. Digital entrepreneurship: a research agenda on new business models for
the twenty-first century. International Journal of Entrepreneurial Behavior &
Research.
Matejun, M., 2016. Role of technology entrepreneurship in the development of innovativeness
of small and medium-sized enterprises. Management. 20(1). pp.167-183.
Muriana, C. and Vizzini, G., 2017. Project risk management: A deterministic quantitative
technique for assessment and mitigation. International Journal of Project Management.
35(3). pp.320-340.
Sadgrove, K., 2016. The complete guide to business risk management. Routledge.