Analysis of 3D Video Calling: An Entrepreneurial Opportunity Essay

This essay presents a business idea centered around 3D video calling technology. The introduction highlights the evolution of technology and the potential of 3D effects in video calls to enhance user experience. The essay then delves into the concept of entrepreneurship, defining the roles of entrepreneurs and the importance of innovation. It analyzes the business idea's value proposition, targeting the digital technology market and emphasizing the integration of 3D sensing technology. The essay discusses entrepreneurial themes such as opportunity recognition and discovery, and the development of the business idea, including market research and investment strategies. The author outlines the process of developing the software and identifies target customers, like businesses and families seeking better communication. The essay concludes by summarizing the key aspects of the 3D video calling business and its potential for success in the market.

Entrepreneurial
Opportunity Essay

Table of Contents
INTRODUCTION...........................................................................................................................1
ENTREPRENEURIAL THEMES...................................................................................................3
BUSINESS IDEA DEVELOPMENT.............................................................................................4
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
My business idea is related with information technology, named 3D video calling. The
idea is generated to provide 3D effects in video calls so that video chat users can actually look
behind the people they are talking to.
As time has changed if we compare there has been lot of variations technology which
was in past and in modern era. For example: Now a days' people are using 3D technology but in
future there can be some better options which an individual or company can adopt advanced
technologies like 5D, 7D etc., for improving its sales and profitability in a speculated time frame
According to Stam, W, (2014) an entrepreneur is considered as a person who develop a
business plan with the purpose of gaining maximum benefits and establish themselves in the
market area for a longer period of time. Further more Stam, W, (2014), explains that
entrepreneur is a person who work with the combination of passion and innovation which assist
them in making effective strategies and implementing new ideas and thoughts into their business
operations.
The concept of entrepreneur and entrepreneurship is totally different former are the one
who are business leaders and latter is considered as the activities and actions performed by that
individual. As a result by adopting this software and technology customers can experience the
real life feeling by talking through any digital tool.
In this present assignment, I am going to describe and analyse my new business ideas and
its implication as a new opportunity for my venture in present market scenario.
3D effect is a three dimensional stereoscopic film that enhances illusion of depth
perception. In this fastest growing world, everyone wants to be digitalise and acquire latest
technology which can give them luxurious experience to get connected with their families and
relatives. This innovation will be applied in mobile phones and help out those people who lives
afar from their families and cannot meet with them for long term. From past years, people are
expecting that the feature will come up which can detect distance between Camera and subject.
Lack of innovations and expertise, it cannot be possible. By using this features in video calls
people will get happy and feel emotions of their loved ones while calling. Thus, 3D effective in
video calling will play a much bigger role in business, as large vendors incorporate these features
into their biggest products.
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My business idea is used by a well established firm's brand in order to make their product
more innovative and unique named “3D-innovations”. This association offers flexible pricing
policies as well as lower installation rates by having effective alternatives to develop a venture
across the world. Along with this, “3D-innovations” signifies that innovation in video calling can
provide greater business opportunities by using 3D sensing technology that bring major
transformation in video calling functions and features. It would allow phones via gesture
recognition into user interface through which individuals will be able to make video calls and
feel others facial recognition without touching them (Lepp, Barkley and Karpinski, 2014). The
expected initial investment for this size of installation is $6
Skype is working on a technology that will no doubt be impressive when used once and
then promptly ignored for the rest of time – 3D video calls. Skype’s labs have been doing work
on both 3D capture and 3D display of video calls, and while it’s impressed with the progress
made in monitors and TVs that can produce a 3D image. This company still believes there’s a lot
of work needed to be done before the 3D capture technology is where it needs to be. Although,
Skype has tech working labs, but there is a need of hardware ecosystem in order to support the
technology.
My business idea is unique as it involves abbreviated VFX technology by which people
feel live actions of others. There has been use high tech graphic design, modelling, animation
and similar software which provide unique experience to people of video chat. Apart from this,
for many people, mobile phones aren't just a source of entertainment, but a major source through
which they get connected with their family members who living at far of places (Kim, Kang and
Nam, 2015). It will provide a real time meeting experience to people with their knowns.
One of the vital value proposition of this business idea is to integrate technology to an
upward trajectory in this demand. Having holograms sounds and FDM technology will enable to
put this invention into Smartphones and at the same time it will also be able to attract many
people.
My business is targeting a digital technology market as the market is getting developed
day by day in UK. Here, intense competition between IT companies as all of them are focused on
generating new and innovative products. However, my business is tending towards providing 3D
effect in video calling in future innovations of IoS and Android which cannot be seen in current
smart phones. Many firms are still not aware about full potential which can be gained from 3D
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printing spare parts. It is just one of the major drawback which is lack of 3D printing expertise
and technical maturing of 3D printing in mobile technology. In order to attract people towards
my business idea, I would like to choose social media sites and mobile applications and tell them
about the benefits of 3D video calling. I can also make certain advertisements that helps me to
convince large group of customers.
In order to launch my business idea, I have targeted business class people, large
multinational companies and families who lives far from their loved ones. A niche market or
small group of people will be able to provide high profitability and sales revenues to my business
idea. In addition to this, I also focused on target customers who have high disposable income
(Zhu and et. al., 20112).
Furthermore, in second phase of my assignment I am going to be defined how this
business idea came into my mind and to promote it I will apply different entrepreneurial themes.
ENTREPRENEURIAL THEMES
An entrepreneur is the person who develops own business ideas and innovations in order
to generate high profit margins. The person innovative and organise effective processes thus to
run a new venture in a systematic manner. Therefore, to launch a new business, owners are
required to seek out new opportunities which will provide them high market growth and viability
(Jinsool and et. al., 2016). In procedure of creating new business, three types of entrepreneurial
opportunities are needed, such as - Opportunity creation, opportunity recognition and
opportunity discovery.
Opportunity recognition is linked with people who are looking or discovered an
opportunity which will provide them high growth to their products and services. Here,
entrepreneurs focus on identifying effective opportunities to generate unique products or
offerings. In addition to this, opportunity recognizers thinks outside from the line and stretch
limits. The term entrepreneurship consists of identifying an opportunity which creates value of
new venture and customers (Häkkilä and et. al., 2013). The theory can be better understood by
reflection of some successful serial entrepreneurs, i.e. Mark Zuckerberg and Steve Jobs who built
their association by focusing of market opportunities. Mark Zuckerberg was a founder of
Facebook who determine various opportunities in telecom industry. Whereas Steve Jobs who is
founder of Apple he recognised several opportunities in iPhone; his iterations towards Apple is
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to obtain opportunity after opportunity. Therefore, in context with 3D video calling, opportunity
can be gained for example: With the help of new technology, now people can not only get
proper information but they can also see the gestures and expressions live like the person is just
in front of us which that person is using which in 2D technology is not possible.
With the change in course of time, new technologies are evolving and it is being used by
companies for gaining maximum benefits. Therefore, the main purpose of launching 3D calling
system is to provide opportunities to people for communicating with each other who cannot meet
with their loved ones for a longer period of time or for any kind of business activities. Further
more I have identified a new opportunity for 3D calling is that while communicating it will give
a feeling of talking to a person like he/she is standing in front. Therefore, interacting with
individuals will be more exciting and fun.
Apart from this, another theme which I have chosen is opportunity discover which is
linked to find out various issues which are presented in market. These obstacles can be an
opportunity to develop new business ideas for existing venture. In addition to this, opportunity
discovery means to acquire technical skills, i.e. market research and technical analysis in order to
find out chances to grow in market by using tangible forms of creativity, problem solving,
leadership and team building (Yun and Kim, 2012). For example: With the context of 3D calling,
understanding the concept of this can be very difficult for customers during their initial years, so
business can incorporate simple tools and technologies for developing this software that could be
easily understandable by them.
Considering this theme in my business helps to determine that how my business attain its
goals and objectives. Very first opportunity I have identified is how to develop and apply
innovative technology in video calling with 3D effects. With this idea or innovation, I will be
able to get investment or capital from investors or vendors that helps me to make by business
more innovative. In order to fill the gap I will focus on creating a group of loyal customers who
actually wants to buy that product or service.
Moreover with the help of 3D technology or calling business meetings can be conducted
in different places in one single time virtually. With respect to this, by taking feedbacks and
reviews from companies and customers who are adopting this services it will assist me in making
changes and modifications to make the system more better and effective. This technology is
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made for big companies like Apple, Samsung etc., who can afford their costing price. Further
these companies can incorporate this system in their mobile phones or digital tools so that it can
be provided to customers as well.
BUSINESS IDEA DEVELOPMENT
I got this idea of developing this technology is by looking at the current situation at
market place and to make the process of conversation more effective and reliable. As it was
mentioned above that the business plan is of developing and selling of 3D effect calling software
in digital technology as it will provide a better experience of communicating with others.
Therefore, before formulating business plan I collected primary data from companies and
customers to know what they think about this plan and also to identify requirement of this.
Moreover for collecting information personal interview and questionnaires were distributed to
know their perception about what they know about 3D effects and calling process. After
analysing the collected information I realise that 3D calling system is very much needed by
business companies while presenting business proposal. For example: if one of the important
person of from the panel is missing than this system will help in producing a virtual image and
presence of that missing person can be fulfilled.
Therefore, my next step will be of identifying companies who need the respective 3D
calling system for conducting their business operations in a better manner, Price of this software
development will be of £ 50,000 million and other selling cost will be £ 500K pounds.
Further more, my next step will be of developing a website form where company can get
information about technology, like cost, documents which are necessary for further proceedings.
Therefore, this will be a very helpful technology for most of the companies as it will assist them
in communicating and making video calling more accommodating. Moreover this can be used
while launching a new product or commodities for making it more effective as a result it attract a
large number of customers towards the parent company who will buy 3D Calling technology.
After assessing competitors, I need to develop an effective marketing plan which outline
marketing strategy and tactics of an organisation. For my new business venture, marketing plan
has developed for 6 months and involves information regarding costs, actions and goals.
Formulation of marketing strategy is based upon marketing mix of the company which
encompasses with four elements such as – product, price, place and promotion.
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 Product – The business idea of 3D effects in video calling simulate with a real-life
conversation and provide great visual contact with mimics, emotions and gestures clearly
visible. In this, people can automatically adjust video call resolution based on their
endpoint capabilities and network conditions. This software will works on Android and
iOS devices, and syncs chats across all devices.
 Price – As the product has targeted to high class people and companies thus its prices
remain quite high. Further changes in prices of innovation will make on the basis of its
popularity in future and number of customers who actually consumed it. Due to
increasing demand of video calling, it can be said that people may enjoy the service at
lower rates after some time (Jo and Hwang, 2013).
 Place – The new technology is going to be deliver via online and offline platforms. The
main office of my business is located at Main street of London and we use digital
platform to serve our services, i.e. anybody can make contact through our official
website.
 Promotion – In order to promote this technology, there has been used different
advertisement and promotional campaigns which defines benefits of 3D video calling
effects. I can also used various social media sites and target multinational companies who
wants to imply something new and unique in their products or offerings.
Along with this, the foremost stage is to develop my plan is prepare an operational plan
Before formulating this idea I will gather primary data from people who loves to use high tech
gadgets and to get know that what customers' want or need. In this process, data collection will
make through collection of primary data that can be done through personal interviewing and
questionnaire distribution to gadget lovers and recognise what they would like in future (Bang,
Kim and Cho, 2011).
After analysing marketing strategy of new venture, there must be prepared a financial
plan its a comprehensive evaluation of an investor's current and future financial condition by
applying different variables that can predict future cash flows, asset values and withdrawal plans.
Break even point – Break even point is a situation where organisation is having condition
of no profit and no loss and according to the below performed analyses it has been seen that if
this start up is producing 1625 units then they will be facing no profit and no loss position.
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CONCLUSION
After assessing the market research and my business idea, it is determined that the new
venture will be enable to generate high profits and sales revenues in upcoming years. Firstly, in
order to survive for long run in market I need to draw up large number of customers and
multinational companies who are willing to get real experience in video calling. For this, I need
to offer my product at competitive price, make effective communication, advertisements and
promotion which helps in improving brand image. I need to conduct a market research for
evaluating all aspects and current market trends thus to make necessary changes in my business
idea. Apart from this, an imperative operational plan would also be prepared in order to measure
progress of my business idea.
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REFERENCES
Books and Journal
Bang, K. S., Kim, J. H. and Cho, S. H., LG Electronics Inc, 2012. Haptic effect provisioning for
a mobile communication terminal. U.S. Patent 8,280,448.
Cho, S. H., Kim, T. Y. and Kim, J.H ., LG Electronics Inc, 2012. Mobile terminal capable of
providing haptic effect and method of controlling the mobile terminal. U.S. Patent
8,306,576.
Häkkilä, J. and et. al., 2013, April. Design and evaluation of mobile phonebook application with
stereoscopic 3D user interface. In CHI'13 Extended Abstracts on Human Factors in
Computing Systems. (pp. 1389-1394). ACM.
Jinsool, L.E.E. and et. al., LG Electronics Inc, 2016. Mobile terminal for controlling various
operations using a stereoscopic 3D pointer on a stereoscopic 3D image and control
method thereof. U.S. Patent 9,513,710.
Jo, H. and Hwang, S., 2013, April. Chili: viewpoint control and on-video drawing for mobile
video calls. In CHI'13 Extended Abstracts on Human Factors in Computing Systems.
(pp. 1425-1430). ACM.
Kim, J. H., Kang, Y. J. and Nam, S. W., LG Electronics Inc, 2015. Mobile terminal to display an
object on a perceived 3D space. U.S. Patent 9,104,275.
Lepp, A., Barkley, J. E. and Karpinski, A. C., 2014. The relationship between cell phone use,
academic performance, anxiety, and satisfaction with life in college
students. Computers in Human Behavior. 31. pp.343-350.
Wang, H., Li, H. T. and Manjunath, S., Qualcomm Inc, 2015. Real-time capturing and
generating stereo images and videos with a monoscopic low power mobile device. U.S.
Patent 8,970,680.
Yun, J. B. and Kim, J. H., LG Electronics Inc, 2012. Haptic effect provisioning for a mobile
communication terminal. U.S. Patent 8,207,832.
Zhou, D. T., Zhou, T. T. and Zhou, A. H., 2015. Wearable augmented reality eyeglass
communication device including mobile phone and mobile computing via virtual touch
screen gesture control and neuron command. U.S. Patent 9,153,074.
Zhu, W. and et. al., 2011. Multimedia cloud computing. IEEE Signal Processing Magazine.
28(3). pp.59-69.
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