Business Opportunity Project: Sollatek (UK) and Consumer Electronics

This project is a business opportunity analysis focused on Sollatek (UK), a specialist manufacturer of electronic and electrical equipment. The project explores the application of cognitive computing within Sollatek's manufacturing unit to capitalize on mega trends in the consumer electronics industry. It includes a visual infographic and research diary that details the company's current operations, market trends like AI, robotics, and green manufacturing, and the potential for innovation, such as introducing 150 Ah solar batteries developed with the help of robotics. The project emphasizes the importance of understanding market dynamics, consumer behavior, and competitive landscapes within the rapidly evolving consumer electronics sector. The report highlights how businesses, particularly SMEs, can leverage these trends to enhance their operations, increase market share, and ensure long-term sustainability. The project references relevant academic sources to support its analysis.

BUSINESS
OPPORTUNITY
PROJECT

Table of Contents
INTRODUCTION...........................................................................................................................3
PROJECT.........................................................................................................................................3
VISUAL INFOGRAPHIC......................................................................................................3
RESEARCH DIARY..............................................................................................................4
REFERENCES................................................................................................................................6

INTRODUCTION
Business opportunity is the investment made by an entrepreneur to initiate and develop a
venture project. Within corporate world, market presents continuous opportunities for an
individual to conduct a study and analyse the latest trends in order to develop a business project
while assuming its liabilities and risks also (Cooper and Sommer, 2016). The present report is
based upon Sollatek (UK) which has become one of leading manufacturers of specialist products
for protection of electronic and electrical equipments. This is an SME having 50 employees
which together constitute a strong team. This report will take a look into the mega trends taking
place within the consumer electronic industry. Further it will explore the business opportunity
associated with applying cognitive computing within the manufacturing unit of company.
PROJECT
VISUAL INFOGRAPHIC
Sollatek (UK) is a company which is operating since last 35 years and is based in United
Kingdom. This SME is involved in power control, energy saving and voltage protection with the
major emphasis upon protection of electronic and electrical equipment against unreliable or
unstable voltage. This enterprise is considering the option of use of cognitive computing on their
manufacturing plant. This is being done with the aim to enhance the pace of operations and
functioning as well as to ensure efficiency of product development processes taking place across
the organisational premises (Dreany, Roncace and Young, 2018).
In order to stand with mega trend of marketplace, implementation of cognitive computing
within Sollatek is an innovative approach which has been undertaken with the aim to enhance the
existing share and position within UK marketplace as this lays down the foundation to business
growth and sustainability. Such adoption of sector’s mega trend is focussed upon introducing
innovation within the organisation so as to increase its scale of operations and thereby enhance
its sales (Forbus and et. al., 2017). This tends to provide opportunities to Sollatek to continuously
engage in innovative practices and technologies to gain a competitive advantage over rivals in
the marketplace. Further, this entity possesses the capability to introduce a new product or
service that is aligned with the utilisation of cognitive computing. Thus, it will introduce 150 Ah
Solar batteries which will be developed by the help of robots on solar manufacturing plant.

RESEARCH DIARY
Mega trends are the macro-economic and global factors of development which have a
massive impact upon the business, industry, society, personal lives, cultures and economy of a
country. This reflects that they are the foundation stones to define the upcoming era where
changes take place at a rapid pace and development is the new face of economy. In this regard,
the major market trends that are noticed and often witnessed within corporate world are Artificial
Intelligence, robotics, ageing population, social adaptability, financial security, digital detox etc.
(Faruqi and et. al., 2018). These are the latest trends and technologies that are largely
transforming the operations and functioning of businesses in today's dynamic world.
The market is rapidly expanding and changing owing to a number of factors which
influence the economy of a country and the organisations which operate as a part of it. Every
business sector in today's dynamic environment is posed to a number of threats. In this regard,
consumer electronics is a vast industry which has huge number of competitors present which

increases the risk and threats associated with substitution and new entrants. Thus, businesses
have to continuously invest in Research & Development so that a proper understanding of the
market and competitive environment can be gained to be able to provide goods and services
which gain maximum satisfaction from customers. Also, it is necessary to analyse and review the
consumer trends as well as the technologies adopted by rivals in order to remain aligned with the
latest tools and techniques being used within the business sector. Constant analysis and review of
market environment and sector tends to provide opportunities to small business enterprises
present within consumer electronic industry. This helps SMEs to increase its scale of operations
by rendering such products and services which enhance the lifestyle and standard of living of
people and increase the goodwill and stake of company in marketplace.
Within consumer electronics industry, Augmented Reality, Virtual Reality, cognitive
computing, AI, robotics, automation, internet of things, smart electronic devices, green
electronics manufacturing, energy efficient electronic items are some of the latest and upcoming
mega trends (Johansen and et. al., 2019). These are shaping the future of this industry and
assisting it to develop in better and more effective ways which can give a boost to the economy
as well. As the competition within this sector is on rise, thus this tends to provide opportunities
to businesses or upcoming ventures to come up with a new and innovative technology or
technique to gain the attention of a larger quantum of population. This contributes towards the
growth of business and ensures their sustainability in market for a long period of time.

REFERENCES
Books and Journals
Cooper, R. G. and Sommer, A. F., 2016. The agile–stage‐gate hybrid model: a promising new
approach and a new research opportunity. Journal of Product Innovation
Management. 33(5). pp.513-526.
Dreany, H. H., Roncace, R. and Young, P., 2018. Safety engineering of computational cognitive
architectures within safety-critical systems. Safety science. 103. pp.1-11.Forbus, K. D.
and et. al., 2017. Extending SME to handle large‐scale cognitive modeling. Cognitive
Science. 41(5). pp.1152-1201.
Johansen, A. and et. al., 2019. Project Risk and Opportunity Management: The Owner's
Perspective.
Faruqi, S. and et. al., 2018. The business of planting trees: a growing investment
opportunity. The business of planting trees: a growing investment opportunity.