BUS203 Entrepreneurship: Venture Capital & Opportunity Analysis

This report analyzes a new business concept for Nationwide Transport Services in Australia, focusing on sustainable business management and overcoming issues related to high fuel costs. It identifies the need for implementing advanced technologies like GPS fleet tracking and self-driving trucks with platooning technology to reduce costs, improve safety, and address driver shortages. The report also assesses consumer preferences, market competition, and the commercial viability of self-driving vehicles, emphasizing their potential to lower fuel consumption, prevent accidents, and minimize pollution. By managing cash flow and controlling budgets, Nationwide Transport Services can offer competitive pricing while maintaining service quality and fostering innovation through research and development.

Management
Entrepreneurship venture capital

Introduction
 The formation of a new business concept is central to the business
and has been the aim of the assignment
 Nationwide Transport Services in Australia is the organisation that has
offered trucking and transportation services to deliver freight across
Australia
 The major services delivered by the company are freight and
transportation services with the use of trucks
 The major issues arisen could be the increased cost of fuel and other
expenses for the business operations
 The aim of the assignment is to demonstrate a new business idea or
concept for sustainable business management and overcoming issues
with the higher fuel cost and expenditures

Problem and need analysis
 The enhancement of fuel cost and increased expenses made by the organisation to
facilitate new ideas and concepts
 Due to lack of implementation of new technologies, the issues have been faced
 The issues related to the safety and security are associated with the transportation
practices might emerge
 The needs of business are to implement advanced and innovative technological
system including the implementation of GPS fleet tracking system and telematics
improve business performance

Needs analysis
 Considering the case, the preferences and expectations are mainly the needs that
have emerged because of the rise in fuel cost used by vehicles and expenses
increasing with the management of business practices
 The clients’ demands and expectations are identified and then there is need for
developing a new business concept for sustainable management of business practices
 The need for sustainable practices including the self driving cars and use of telematics
and GPS fleet tracking system for monitoring the location of drivers and other
information
 Nationwide Transport Services can use the self driving trucks that are implemented
with the platonic technology

Consumer analysis
 Availability of services at varied price range according to the demands and
expectations of the clients
 The services are available at a minimum cost of $100000 though it increase with the
other services and amount of freight to be transferred
 The benefits that are perceived or can be attained are to manage better storing of
information, retrieving those and even managing the exchange and sharing of
information while communicating with the clients
 Monitoring the information about real time will be much easier, which could create
opportunities for the cost reduction associated with the management of business
operations and labour management

 For the strengthening of customer base and create positive brand image the use of
email by Nationwide Transport Services could facilitate communication with the
customers
 Increased level of investments should tend to incur higher costs that might be risky
and other issue include poor skills to forecast rate of return on investments for the
shareholders
 With the reduced cost of fuel and lower expenses for the business processes, the
additional money could be used for managing research and development activities
and facilitate innovation perspective
 The existing services could be offered at reasonable prices without any compromise
on the quality

Market analysis
 The competitors of the business are SCT Logistics, Air Road, ITS Transport Sydney,
QUBE, Kings Transport and Logistics Company, etc.
 The research and development, growth, maturity and decline are the major aspects
included in the life cycle
 Because of the good quality of services and new business concept, the business can
reduce expenses and achieve success in the business long run.

Life cycle

Commercial viability
 The self-driving vehicles could be used by combining with the platooning technology
 With the self driving vehicles, the driver shortage problem would be resolved along
with prevention of accidents and sustainability management
 The use of self-driving cars for the transportation purposes could result in reduced
cost and consumption of fuel and expenses along with preventing the level of
pollution
 The management of inflow and outflow of cash and keeping the budget under tight
control could also enable Nationwide Transports services to provide services at lower
cost without compromising on its quality and aim for generating higher sales revenue
in business too

Bibliography
 Beattie, V., & Smith, S. J. (2013). Value creation and business models: refocusing
the intellectual capital debate. The British Accounting Review, 45(4), 243-254.
 Brodie, R. J., Ilic, A., Juric, B., & Hollebeek, L. (2013). Consumer engagement in a
virtual brand community: An exploratory analysis. Journal of business research,
66(1), 105-114.
 Burns, P., & Dewhurst, J. (Eds.). (2016). Small business and entrepreneurship.
Macmillan International Higher Education.
 Chick, G., & Handfield, R. (2014). The Procurement Value Proposition: The Rise of
Supply Management. Kogan Page Publishers.
 Cumming, D., & Li, D. (2013). Public policy, entrepreneurship, and venture capital
in the United States. Journal of Corporate Finance, 23, 345-367.
 Nationwidetransportservices.com.au (2019). Retrieved from
https://nationwidetransportservices.com.au

Thank you