Business Plan: Dream Trip Application (BBDM3303, UTAR)

This business plan, created by a group of students from Universiti Tunku Abdul Rahman (UTAR), outlines the development and launch of 'Dream Trip,' a mobile application designed to streamline travel planning and execution within Malaysia. The plan includes a comprehensive industry analysis using PEST and Porter's Five Forces models, revealing favorable conditions for market entry. It details a robust marketing strategy, including market segmentation, target market identification (focusing on users aged 18+ from all income groups), and a marketing mix. The operations section covers business premises, procedures, and personnel requirements. The management plan presents the team's structure and qualifications, alongside an organizational chart. A detailed financial analysis projects start-up costs, revenue, and profitability over three years, including pro forma financial statements and ratio analysis. Potential risks such as cybersecurity, partner, and economic risks are also addressed, with an implementation plan outlining pre-operation and operating activities. The plan concludes with references and appendices, providing a complete overview of the proposed business venture.

FACULTY OF ACCOUNTANCY, FINANCE
AND BUSINESS
BBDM3303 ENTREPRENEURSHIP
BACHELOR OF BUSINESS (HONOURS) IN
HUMAN RESOURCE MANAGEMENT
[2RHR2]
LECTURER : DR. JAMES TEO
TUTOR : DR. JAMES TEO
TUTORIAL : GROUP 2
SUBMISSION DATE : 10th JAN 2020
WORD COUNT : 8402 words
MARKS AWARDED
STUDENT NAME STUDENT ID NUMBER
1. CHONG KAH WAI (CU) 19WBR07921
2. EMILY CHEE MENG YEE (CU) 19WBR07923
3. LOO HONG LIN 19WBR07938
4. SAW XIAN WEI 19WBR07941
5. SIEW REMY AARON 19WBR07943

KOLEY UNIVERSITI TUNKU ABDUL RAHMAN
FACULTY OF ACCOUNTANCY, FINANCE AND BUSINESS
PLAGIARISM DECLARATION STATEMENT
Read, complete and sign this statement to be submitted with your written work
We confirm that the submitted work are all our own work and are in our own
words.
Programme : RHR
Tutorial Group : 2
Date : 10th January 2020
Name (Block Capitals) Student ID No. Signature
1. CHONG KAH WAI 19WBR07921 ………………………
2. EMILY CHEE MENG YEE 19WBR07923 ………………………
3. LOO HONG LIN 19WBR07938 ………………………
4. SAW XIAN WEI 19WBR07941 ………………………
5. SIEW REMY AARON 19WBR07943 ………………………

ASSESSMENT CRITERIA &MARKING RUBRIC: BUSINESS PLAN (CW 3)
Expectations Marks
(max)
Marks Comments
Industry Analysis:
Relevance and depth of the research done on the pertinent industry, the
market for the product/service as well as the potential competitors. The
use of tools of analysis like Porter’s 5 Forces, and/or PEST/PESTEL
10
Marketing Plan:
Market segmentation and proper identification of the target market;
discussion on market trends; logical & reasonable basis of revenue
projections. Detailed competitor analysis.
10
Discussion on the marketing objectives and marketing strategy,
including the marketing mix: the 4Ps- product, pricing, place of sale
(distribution channels) and promotion. 10
Operations Plan:
Clarity, relevance, and comprehensiveness (refer to the detailed
requirements in the Coursework Specs)
10
Management Plan:
Clarity, relevance, and comprehensiveness (refer to the detailed
requirements in the Coursework Specs)
5
Financial Plan:
Estimation of the initial capital funding required for start-up costs, pre-
operating expenses, deposits/prepayments, and working capital 10
requirements for the first few months of operation. Table of accounting
assumptions used in preparation of the pro forma accounting
statements, including workings showing the basis of the sales
projections.
The completeness and accuracy of the required 3 years pro forma 10
income statements, cash flow statements, and balance sheets.
Ratio analysis and breakeven analysis (including interpretation) 5
Critical Risks Analysis:
Relevance and comprehensiveness (refer to the detailed requirements
in the Coursework Specs)
5
Implementation Plan:
Detailed explanation of the implementation steps – the logic,
comprehensiveness & reasonableness of the steps &
timelines/deadlines. The use of visual-aids like Gantt charts to depict
5

the milestones.
Overall feasibility:
This business plan is judged on its overall feasibility taking into
account the whole business plan, in particular the marketing
and financial plans.
10
Format and Cohesiveness of the Business Plan:
Understood and applied faithfully the instructions pertaining to the
report structure/format. The report has been presented in a clear, easy-
to-understand, and cohesive manner.
A complete &well-written Executive Summary.
Proper referencing using the TARUC Harvard Referencing System.
10
TOTAL MARKS 100

FACULTY OF ACCOUNTANCY, FINANCE AND BUSINESS
COURSEWORK FEEDBACK FORM
COURSE CODE/ COURSE TITLE: BBDM3303 ENTREPRENEURSHIP-
NAME OF STUDENT(s): ID No:
1) CHONG KAH WAI 19WBR07921
2) EMILY CHEE MENG YEE 19WBR07923
3) LOO HONG LIN 19WBR07938
4) SAW XIAN WEI 19WBR07941
5) SIEW REMY AARON 19WBR07943
PROGRAMME: RHR
YEAR OF STUDY:
SEMESTER: 2
ACADEMIC YEAR: 2019/2020
GROUP NO:
COURSEWORK NO: NATURE OF COURSEWORK:(e.g.
presentation, Q&A, individual /
group assignment, etc)
MARKS AWARDED:
COMMENTS :
Student’s
Acknowledgement:
Date: Lecturer/Tutor’s
Signature:
Date:

EXECUTIVE SUMMARY
Dream Team is a company planning to create and launch an all-new application that aims to ease
the planning and execution processes of any dream vacations and trips within Malaysia. The
application is known as ‘Dream Trip’, a user friendly application that provides five main
functions for users, which are booking of mode of transport, booking of accommodation,
navigation functions, itinerary recommendations, and translation services all in one application
that helps users plan the trip easily and go through the trip with maximum convenience for start
to the end. Consumers will be able to customise their own trip package based on their own needs,
preferences and budget. We aim to be recognised as one the top companies in Malaysia which
carries the reputation of creating the best travelling experiences through the application, by
providing the best quality of services to maximise customers’ satisfaction and convenience. This
company is started by a team of five people at the year of 2019. The team consists of members
with high qualifications and coming from a background of years of experience in both IT and
travelling professions.
This business proposal points out the crucial parts of this business, including the industry
analysis, marketing analysis, operation analysis, management, and financial analysis. First and
foremost, the industry analysis is done using the PEST analysis and Porter’s Five Forces Model
that looks into the competitive forces that may affect the industry’s profitability, and determines
which industry our company will be located in as well as the purpose of our services. Both
analyses show that the industry is worth venturing in as the threats imposed are generally in the
low to medium category and the external factors are generally favourable towards the company.
Furthermore, the marketing analysis states the market size, needs, trend and growth, and all
factors are expected to rise in the future. The company will be promoting the product base on the
locations of the product, gender, benefit sought, and life cycle of the customers. The target
market for this application will be focused on users aged 18 onwards, and consumers from all
income groups as consumers generally are able to customise their trip packages according to
their needs and budget.
The operation analysis will also be included in this proposal. The main business premise is
planned to be located at a strategic business centre which is Sunway Velocity. Sunway Velocity
business centre provides the advantage of big space and low rental with reasonable utilities such

as internet services. The analysis also states the equipment needed, the potential costs, and the
personnel needed. The management part includes the general personal details of the five key
members from the team. A well-constructed organisational chart will also be included with the
amount of expected salary to be given as an information for potential investors.
Moreover, according to the financial analysis, it is estimated that the estimated start-up capital is
RM284,232, with RM1,000,000 from the SME bank loan. The estimated revenues for year 1 is
RM3,532,902, year 2 is RM3,638,889, and year 3 is RM3,748,056. The estimated net profit
generated is RM776,185 at year 1, and is expected to rise annually which are RM1,080,087 at
year 2, and RM1,152,437 at year 3. The year ending cash balance for 3 consecutive years are
RM1,057,666, RM1,936,031, and RM3,051,527. The breakeven value is RM2,517,121, which
means our company needs to achieve a sales revenue that is higher than RM2,517,121 in order to
make a profit.

TABLE OF CONTENT
TITLE PAGE NUMBER
1. Introduction 1
2. Industry Analysis
2.1 PEST Analysis
2.1.1 Political Factors
2.1.2 Economic Factors
2.1.3 Social Factors
2.1.4 Technological Factors
2.2 Porter’s Five Forces Model
2.2.1 Threats of New Entrants
2.2.2 Threats of Substitutes
2.2.3 Buyer Power
2.2.4 Competitive Rivalry
2
2
2-3
3
4
5
5
5-6
6
6-7
3. Marketing Plan
3.1 Market Analysis
3.2 Market Size
3.3 Market Needs
3.4 Market Trends
3.5 Market Growth
3.6 Market Segmentation & Target Market
3.6.1 Demographic (Age)
7
7-8
8-9
9
9-10
10
10

3.6.2 Pyschographic (Lifestyle)
3.7 Positioning
3.8 Competition Analysis
3.8.1 Indirect Competitors
3.9 Marketing Mix
3.9.1 Marketing Goals
10-11
11
11
11-14
14
15-17
4. Operations
4.1 Business Premises
4.2 Operation Procedures
4.3 Personnel & Equipment needs and uses
18
18
18-20
5. Management
5.1 Management Team
5.2 Legal Structure
5.3 Organisational Chart
5.4 Professional and Advisory Support
21
22
22-23
23
6. Financial Statement
6.1 Start-up Capital
6.2 Table of Assumption
6.3 Pro forma Income Statement
6.4 Pro forma Cash Flow Statement
6.5 Pro forma Balance Sheets
6.6 Ratio Analysis and Break-even Analysis
23
23-24
24
24-25
25
25-27

7. Potential Risk Factor
7.1 Cybersecurity Risk
7.2 Partner Risk
7.3 Technology Risk
7.4 Operational Risk
7.5 Economic Risk
27-28
28
28-29
29
29
8. Implementation Plan
8.1 Pre-operation Activities
8.2 Operating Activities
30
30
9. Reference 31-33
10. Appendix 34-49

1
INTRODUCTION
Dream Team is a pioneering company in the tourism industry of Malaysia in incorporating the
innovation of the latest technology into making the industry better. Dream Team had created a
new application named “Dream Trip” that eases the processes of planning any trip within
Malaysia. Dream Trip provides an array of services that helps any tourists, no matter domestic or
foreign, to easily and conveniently plan from top to bottom for any trips within Malaysia. The
services provided through the application includes: booking of accommodation, booking of
tickets for mode of transportation, itineraries recommendations, navigation services, and
translation services. Dream Trip aims to provide excellence in providing the best products and
services to customers and maximum convenience to ensure customer satisfaction at all times. At
just one click, tourists from all over the world will be able to plan for the trip to anywhere in
Malaysia based on their preferences.
Dream Trip envisions to be the top application in Malaysia which carries the reputation of
creating the best travelling experiences for tourists. The mission statement of our company is to
provide customers with a memorable and meaningful experience throughout the trip by offering
the best quality of services at all times. Moreover, Dream Team’s core value is reliability. The
company aims to provide trustable and accurate information to all consumers and all customers’
details will be securely protected under mandated law and regulations. Furthermore, the
company’s second core value is efficiency. Dream Team aims to executing full diligence in
serving all enquires by customers within a short frame of time, and ensuring that all services
provides full satisfaction to all customers. The next core value is convenience, where Dream
Team developed the Dream Trip application to enable access their requirements easily while
planning for their trips with suggestion and filter function, in addition of translation system to
deal with language barrier during the trips.

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2. INDUSTRY ANALYSIS
Dream Team is located in the tourism industry. Since Dream Team aims to cover trips within
Malaysia, it is specifically located within the tourism industry in Malaysia. First, we will perform
a general PEST Analysis on this industry, followed by a more specific tool used for the industry
which is the Porter’s Five Forces Model.
PEST ANALYSIS
2.1.1 Political factors
Malaysia is generally a stable country. It pursues the principles of peace and neutrality in
developing and implementing its foreign policies. Malaysia maintains close relations to several
neighbouring countries such as Singapore, Thailand, Indonesia and China.
The new government led by Dr. Mahathir had planned to implement new changes to improve the
tourism industry. This can be evident from an interview with Dr. Mahathir where he emphasised
the need for more hotels and restaurants to meet the huge demand from tourists and as an effort
to help the local community. The idea and effort of the development of this industry is included
in the 9th Malaysian Plan and onwards. One of the new implementations by the new government
is the establishment of the Islamic Tourism Centre (ITC) that is under the Ministry of Tourism.
This establishment helped to promote Islamic tourism, and made Islamic tourists feel more
welcomed and comfortable as the other non-islamic tourists. Furthermore, the government will
also review the tourism tax charged to tourists. Hence, this is also a good signage for the tourism
industry.
Although Malaysia is known for its strict rules, tourists who are visiting Malaysia for not more
than a month does not require a visa from the Malaysian Immigration Department. As long as the
foreign tourists understand and follow the conditions and laws implemented in Malaysia, there
should not be any major issues for tourists to travel to Malaysia.
2.1.2 Economic factors
According to the projection made by the International Monetary Fund (IMF), Malaysia is
number 37 in the ranking of global GDP. The total GDP in the year of 2018 was USD358,579
million. Malaysia has a healthy, robust, and industrialised economy. The Malaysian economy is

3
diversified and very robust with focus on industrialised, and knowledge-based industries, which
includes the tourism industry. The economy has also benefitted from the adoption of cutting-
edge modern technology.
The tourism industry in Malaysia is a major contributing factor in the economy of Malaysia. The
industry impacts the economy by several factors including the foreign exchange earnings,
government revenues, generation of employment, and regional development. When tourists
travel to Malaysia, there will definitely be foreign exchange, as they will be bringing in their
currency. Hence, the country will earn from those foreign exchange currencies. Moreover, the
tourism industry had helped in generating many new and existing job opportunities, and lessened
the unemployment rate in Malaysia. According to the statistics provided by the World Travel and
Tourism Council, job employment for travel and tourism in 2022 will account for 120,470,000
jobs. This statistics clearly shows the demand for employment for the tourism industry. The
increase of tourism activities will also lead to regional development as the government will
refurbish buildings and infrastructure of the hotspots where tourists favour. Hence, all these
factors can lead to higher standards of living for the locals, reduce poverty and in turn improve
the economy of Malaysia.
2.1.3 Social factors
Malaysia is a multi-ethnic and multicultural country, consisting of three main races which are
Malays, Chinese, and Indians, as well as other indigenous people. Though divisions exist,
communal harmony is a key feature of the country. Although the official language used in
Malaysia is Bahasa Malaysia, most of the citizens of Malaysia are able to speak, and understand
English. This is a strong plus point for the tourism industry, as there are lesser to no language
barriers as tourists can easily understand the locals. Moreover, Malaysia is generally a safe
country as rated and reviewed by many seasonal tourists who travel to Malaysia often. The crime
rates in Malaysia is relatively low as compared to many neighbouring countries. Hence, it is
generally safe for tourists to travel to Malaysia as a trip or vacation. Malaysia is ethnically
diverse and has a rich cultural life. Many tourists that visited Malaysia commented that Malaysia
is a beautiful holiday destination due to not only its beautiful and stunning environment, but, also
the rich and diverse culture and friendly people. This had attracted approximately 25.83 million
tourists to visit Malaysia in the year 2018 alone.

4
2.1.4 Technological factors
Malaysia is one of the most digitally connected societies in the world. Approximately 80% of its
citizens have access to the Internet, mostly through mobile networks. Malaysia has been known
to have been a great place for international tech companies due to its strategic location, tech
savvy work force, and IT infrastructure. Many companies such as IBM, HP, Intel, Google and
Amazon are well established in the country. The leading social media in use in the country are
Facebook, Twitter, Pinterest, Instagram and YouTube. The Malaysian Government had been
working towards achieving the aim of being the preferred destination for high-technology
investment by 2025. Online travel agencies such as booking.com, TripAdvisors and so on are
able to generate revenues of up to at least one billion pounds by the end of 2021. Hence, these
online travel agencies are widely acceptable and can be used to gain competitive intelligence for
the companies in the tourism industry.
Malaysia also has a very good national and international telephone lines. It is because Peninsular
Malaysia are using microwave radio relay that provides a good connectivity between cities. It
also consists of two international earth stations as well as two Intelsat which are located at the
Indian Ocean and the Pacific Ocean. Hence, tourists who are travelling to Malaysia will have no
connectivity problem. As of today, Malaysia has a total of at least nine Internet Service Provider
(ISP). Hence, these technologies that are readily available in this country will definitely make
life easier for tourists.
CONCLUSION FOR PEST ANALYSIS
In conclusion, according to the PEST analysis, it shows that the political, economy, social, and
technological factors are generally favourable for our company – Dream Trip’s entry into the
tourism industry.

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PORTER’S FIVE FORCES MODEL
Competitive Forces Threat to industry profitability
Low Medium High
Threats of New Entrants √
Threats of Substitutes √
Bargaining Power of Suppliers √
Buyer Power √
Competitive Rivalry √
(Table 1: Porter’s Five Forces Model)
2.2.1 Threats of new entrants
There will be a low chance for threats of new entrants. There are several reasons to justify this
statement. First and foremost, this application is a pioneer in the industry and there are not any
other competitors in the industry that provides such services yet. There are several barriers that
new entrants will have to face. One of the barriers is cost. Creating such an application and
providing such a variety of services will require a certain amount of costs, and this might cause
some challenges for new entrants to create such an application. Secondly, some services
provided within the application requires specialists’ knowledge and must be kept up-to-date
constantly, such as the navigation services, translation services and the itinerary
recommendations services. This is to ensure that the services are not lacking and are following
the current trends in the industry. Hence, it will be tedious for companies to follow-up and
update the application, and it requires certain specialists to keep this application updated
constantly with minimal error. Furthermore, existing companies that is similar to Dream Team in
the industry are able to achieve economies of scale which makes it merely impossible for new
entrants.
2.2.2 Threats of substitutes
There is a moderate level for threats of substitutes as Dream Team stands as a pioneer in the
industry. Currently, in the industry, there are several different applications that provides the
services provided by Dream Trip but all in different applications, and non of which provides all
the services all in one application. Companies such as Traveloka, Airbnb, Trivago, Google Maps

6
all provide similar services that is provided on Dream Trip, but did not provide all functions that
is provided by Dream Trip. Each company only focuses on one or two services, whereas Dream
Trip focuses on all processes from start to the end of the planning and execution of the trip.
There are no close subsitutes for the company. Furthermore, our company also focuses on
providing consumers with excellent and convenient services at an affordable price. Hence,
customers will find that Dream Trip is the most suitable application for trip planning within
Malaysia as compared to other similar applications that may be less convenient and more
expensive in terms of their service charges.
2.2.3 Buyer power
We target consumers from both local and foreign countries, hence our target market is wide and
potential customers are diverse. Hence, there will be moderate buyer power in this industry.
Dream Trip emphasises on affordable packages and provides the freedom for consumers to
customers to customise their dream trip based on their budget and preferences. Moreover, Dream
Trip also does promotional activities and packages once in awhile to provide great deals for
consumer during special occasions. Hence, as compared to competitors in this industry, Dream
Trip is a more affordable option to choose from. It will cost the buyers more if they opted for
other choices in the market as they have to surf different websites for all the different services
that are all provided by Dream Trip, and may be charged different service fees, while Dream
Trip will only charge one sum of service fees for all the services provided. Moreover, since the
target market is wide, and there will be many potential customers in the market, it is not easy for
buyers to drive the prices down, as Dream Trip already provides the most affordable travel
services among competitors.
2.2.4 Competitive rivalry
Competitive rivalry with the companies in the industry will be moderate, as Dream Trip is able
to maintain a certain level of competitive advantage as compared to potential competitors. There
are quite a number of travel agencies that provides services that are provided by Dream Trip,
however, their processes are more complicated, making it less convenient for consumers.
Furthermore, there is high switching costs, as the packages and service fees charged by Dream
Trip is relatively lower as compared to competitors. Moreover, Dream Trip provides slightly
different products and services for consumers, hence, giving them the freedom to customise and

7
alter the planning of trips according to their budget and preferences.
CONCLUSION FOR PORTER’S FIVE FORCES MODEL
In conclusion, the Porter’s Five Forces Model clearly demonstrated that this industry that Dream
Trip is venturing in is worth entering as most of the threats imposed are in the low to medium
category.
3.0 MARKETING PLAN
3.1 Market Analysis
The tourism industry in Malaysia is growing at a promising pace with tourist visiting known
attractions sites and rarely rural attractions sites due less exposure. The creates a market for
Dream Trip to promote rural attractions sites to make it known to local and foreign tourist to
further flourish the economy in the tourism industry. As a new service provider in the tourism
industry, Dream Trip will focus on providing all travelling needs for travellers coming to or in
Malaysia through a single application. As Dream Trip becomes more stable and noticeable, we
will perform more field study on rural areas to strengthen itinerary recommendation for rural
area and slowly expend to countries neighbouring Malaysia. The key factor for attraction the
attention of tourist in the tourism industry will be by Dream Trip providing services like
accommodation booking, transportation booking, itinerary recommendation, navigation services
and translation services in a single application. The sections below will provide details on Dream
Trip marketing strategies.
3.2 Market Size (Basis of Revenue Projections)
The tourism industry is growing rapidly worldwide and in Malaysia. Revenue of foreign tourist
coming into Malaysia alone exceeds RM84.1 Billion with only 25.8 Million foreign tourists in
the year 2018 (Refer to Appendix 1).
It is expected to continuously grow and reach 30 Million foreign tourists coming to Malaysia
with spending reaching RM100 Billion at the end of 2020 (Refer to Appendix 2).
The market share of the tourism industry in Malaysia is divided into 12 categories that are

8
shopping, accommodation, food & beverages, local transport, medical, international airfares,
organised tours, domestic airfares, entertainment, fuel, sports and others (Refer to Appendix 3).
As we provide services for accommodation booking, local transport booking, tour organising,
domestic and international airfare, we are already catering for five out of twelve market share
categories which exposes us to 43.7% of the total market share of Malaysia in the tourism
industry. This does not include other services that we provide like translation services and
navigation services.
3.3 Market Needs
As the tourism industry enters the digital age, most tourism platform sets their services platform
online and mainly in mobile applications to be easily accessible anywhere as well as anytime.
However, most of these tourism services applications provide one to three types of services and
not cover the needed scope for tourist to plan their vacation trips (Table 3.1).
Companies Klook Trip Advisor Grab Waze iTranslate
Hotel Booking ✓ ✓
Transportation Booking ✓ ✓ ✓
Itinerary Recommendation ✓ ✓ ✓
Navigation System ✓
Translation Services ✓
SIM Card Rental Service ✓
Total Amount of Services
Provided:
4 3 1 2 1
(Table 2: Number of services companies in the tourism industry provides)
Our company wishes to cover this gap by providing all tourism planning needs within a mobile
application to heighten accessibility and convenience to all users. Hotel and homestay booking
will be available to allow consumer prepare their accommodation. Transportation booking,
itinerary recommendation and navigation services will be available to allow tourist prepare
destination ahead of time while helping them to know the whereabouts around their destination.
Translation services will just be an added perk to allow tourist understand native’s speech

9
through the audio or text translation for easier and effortless communication.
3.4 Market Trend
The rising market trend in the tourism industry in Malaysia is the trend of using smartphone
applications for doing businesses while obtaining all kinds of services. The number of
smartphone users in Malaysia has growth dramatically reaching a whopping 18.4 million users
by the end of 2019 (Statista Research Department 2019). 97.7% of those users have access to the
internet through their smartphones while 80.4% of those users are said to use their smartphone
on the internet for obtaining information on good and services. This shows that our mobile
application providing information on tourism for trip planning can tap into 14.79 million
smartphone users just by being in the market as an information provider (Alzahrin 2018).
Another rising trend in Malaysia is the trend of inbound tourism of both foreign and local into
Malaysia. Malaysia has an arrival of 25.83 million tourists in the year 2018 and more then half
has already been achieved within the first 6 months of 2019 at an astonishing rate of 13.35
million inbound tourists (Bernama 2019). A growth of 4.9% can be seen on the first 6 months of
tourist arrival if compared to the first 6 months of 2018. It is targeted that the total inbound
tourist for Malaysia will reach at 28.1 million. This shows that the number of tourists coming
into Malaysia for tourism is increasing dramatically creating more potential consumers for
Dream Trip as their trusted digital tour guide and trip planner.
3.5 Market Growth
The tourism industry in Malaysia is expected to growth immensely due to the government’s
support in establishing a campaign called “Visit Malaysia 2020” (Tourism Malaysia 2019). This
campaign being implemented encourages foreign tourist to travel to Malaysia and makes local
tourist have the urge to travel to different states across Malaysia. The government has further
allocated budgets to support companies in the art, culture and heritage activities to ensure the
tourism industry is continually improving. The government has also allocated tax exemption for
many new attraction places in terms of investments making it more appealing for investors and
creates another opportunity for growth in the tourism industry (Tee 2019). The improvement of
attractions places providing art, culture and heritage activities can help attract more tourists and
can indirectly increase the user in our application for the sake of finding more information and

10
planning trips to those attraction places. These initiatives by the government will boost the
tourism industry and will indirectly boost our profitability in the industry as our profit depends
on the tourism industry.
3.6 Market Segmentation & Target Market
Dream Trip marketing activities will be segmented into demographic and psychographic. These
two areas segmented will also be Dream Team’s target in the market.
3.6.1 Demographic (Age)
Dream Trip will be created to suit generation age ranges from age 18 onwards. This means that
our mobile application will be catering to the silent generation, baby boomers, generation X,
millennials and a part of generation Z. The reason for catering for the age group is that this age
groups are capable of travelling on their own. The age group of below 18 will not be focused on
as they require parental guidance upon travelling and are not adequately versed in understanding
the terms and condition in the mobile application.
Another reason for catering to those ages above 18 will be that they are legal to earn their own
income. Our company will focusing on the top 20% (T20) and middle 40% (M40) income group
in Malaysia as they have the adequate income to go for vacation. Below 40% (B40) income
group will also be targeted as the packages that wished to be booked in the mobile application
can be customise to fit their income range and preferable services.
3.6.2 Psychographic (Lifestyle)
46% of the Malaysian population has a lifestyle of going for vacation semi-annually while 33%
goes for vacation once a year. Malaysian also tends to stay in a particular accommodation for
their entire vacation or trip. They tend to visit as much attraction sites as possible surrounding
the accommodation they stay. This allows us to focus on providing as much attraction sites as
possible surrounding all accommodations. This is to allow tourist to use our mobile application
to find all attraction spots in the area (Picodi.com 2019)
We can then target this lifestyle by providing as much attraction sites close to them to entice
them to go as much as possible of those attraction sites. They spending pattern will also be used
as data to provide recommended attraction site according to their spending capabilities. This will

11
be to maximise their spending during their vacation.
3.7 Positioning
Dream Trip will be position as a mobile application that provides conveniency and reliability
through providing multiple tourism services in a single application. Dream Trip will also not be
only known for providing multiple tourism services but also an application that provide precise
tourism attractions even on rural areas. This will help users and tourist to plan an efficient trip as
all attractions are listed out in the mobile application. Our point rewarding system will also pull
users to keep us close to heart as the more they use, the more they may gain in return.
3.8 Competition Analysis
In order to identify Dream Trip company proposition, five indirect competitors in the tourism
industry has been chosen for comparison. The five indirect competitors have been chosen due to
Dream Trip not having a direct competitor in the market. The comparison will mainly be for
identify strength and weakness of Dream Trip compare to those companies. All services of each
competitor will be used for comparison with our company (Table 3). The indirect competitors
are as follows:
3.8.1 Indirect Competitors
i) Klook
Klook is a Hong Kong-based company that operates across Asia which includes
Malaysia. It provides its services through its online website and mobile application. It
becomes the middleman between businesses and consumers by providing its online and
mobile platform for services like accommodation booking, transportation booking,
attraction sites booking and SIM card rental.
ii) Trip Advisor
Trip Advisor is an American company that has penetrate the Malaysian market through
its review services. It provides its service both in its online website and mobile
application without needing consumers to make an account. Services provided are
accommodation booking, transportation booking and itinerary recommendation with
reviews. Trip Advisor is unique as it shows reviews of past users that visited or used the

12
place.
iii) Grab
Grab is a fast-growing Singapore-based company that has penetrate the South East Asia
(SEA) market including Malaysia. Its services is only available in its mobile application
platform. Services includes transportation booking, bills payment and goods delivery
services which includes food.
iv) Waze
Waze is a mobile application developed in California and Israel. This navigation mobile
application is used in over 70 countries including Malaysia. The only platform that Waze
provide its service is in a mobile application. Service it provides is real-time navigation
services that shows all real-time information regarding the route being used to reach your
destination.
v) iTranslate
iTranslate is a translation service application based in America that provides translation
for over 100 languages. It penetrated the Malaysian market by providing translation for
Malaysian language and dialect including Malay, Chinese, Tamil, Cantonese and
Hokkien. Services it provides includes online and offline audio or text translation and
dictionary. iTranslate provide its service through two platform which is the web-based
website and mobile application.
Company Dream
Team
(Dream
Trip App)
Klook Trip
Advisor
Grab Waze iTranslate
Services: Accommodati
on Booking
(Hotel &
Homestay
Booking)
★★★★★ ★★★★★ ★★★★★ - - -

13
Transportation
Booking
(Airfare,
Ferry, Train,
Bus & Car
Booking + Car
Rental)
★★★★★ ★★★★☆ ★★★★☆ ★★★☆☆ - -
Itinerary
Recommendat
ion
(Attractions in
Urban & Rural
Areas
Included)
★★★★★ ★★★★☆ ★★★★☆ - - -
Navigation
System
★★★★☆ - - - ★★★★★ -
Translation
Services &
Dictionary
★★★★☆ - - - - ★★★★★
Telco Services
(SIM Card
Provided)
- ★★★★★ - - - -
Total Stars
for
Services
Provided:
24★ 18★ 13★ 3★ 5★ 5★
Brand
Reputation
★☆☆☆☆ ★★★★☆ ★★★★☆ ★★★★★ ★★★★★ ★★★☆☆
Sales
Method
Online
Website &
Online
Website &
Online
Website
Mobile
Application
Mobile
Application
Online
Website &

14
Mobile
Application
Mobile
Application
& Mobile
Applicatio
n
Mobile
Applicatio
n
Advertising ★★☆☆☆ ★★★☆☆ ★★★☆☆ ★★★★★ ★★★☆☆ ★★★☆☆
(Table 3 : Comparison Table Between Dream Trip & Indirect Competitors)
Overall, the service that our company provide is attractive compared to our indirect competitors.
However, this does not make us in any way superior than our indirect competitor as their
provided services does not fully aligned with ours making us more like providing a niche
services in the tourism industry. Our indirect competitor are also giants for their respective
services provided in the market while also being already established with bigger funding to back
their overall business strategies. If comparing in terms of the services like market
accommodation booking, transportation booking, itinerary recommendation, navigation system
and translation services, our company can be seen at an advantages end as we provide services
that caters to the specific wants of tourist while being convenient through providing all those
services in a single mobile application.
We are also on par with our indirect competitor in terms of platform they provide their services
in. Most of our indirect competitor use a mobile application and online website as their method
for direct sales which we are also following. However, our brand reputation and advertising
strategy are still in its infant stages and cannot compete with our indirect competitors. As our
business goes on, more resource will be used for advertising to increase brand recognition to
attract users to our platform. Advertising will also be used to showcase our mobile application
services for making our mobile application as our main platform of service to cater to the trend
of smartphone being used mainly by Malaysian and also worldwide for tourism information
finding and planning.
3.9 Marketing Mix

15
3.9.1 Marketing Goals
● To generate RM4,000,000 revenue within 12 months of operation
● To build brand awareness within 6 months of operation.
● To generate 4% growth in revenue per annum for the next three years.
i) Product (Services)
A mobile application will be built providing multiple tourism services for tourist and
consumers to have convenience and an efficient trip planning experience. The mobile
application will have five different services which are accommodation booking,
transportation booking, itinerary recommendation, navigation services and translation
services.
Accommodation booking will be available with three different ranges for users to pick.
Range will be budget, medium and high-end hotel or homestay. The application will also
show all accommodations available in the vicinity for the range picked and generate the best
deal of the category chose.
For the transportation booking service, Dream Trip will include bookings for flights both
domestically and international, boats and ferry across Malaysia bookings. Booking for bus
seating and car drivers are also available through the Dream Trip. An addition of car rental
service is also available with just certain terms and condition needs to fulfill in order to rent
the car.
The mobile application will also provide itinerary recommendation to show all attractions in
a location for users to have a variety of selection. All major and minor attractions will be on
display with the details and background for users to know the significances of each
attraction.
Navigation services in the application will mainly be for providing routes to reach the
chosen destination quicker with recommended method to travel to the destination. Maps in
the navigation service will also display all attractions from the itinerary recommendation to

16
allow users to conveniently plan out their trip.
The translation service will mainly be for translation languages and dialects in audio or text
for the convenience in communicating among locals in Malaysia as Malaysia have a variety
of race and ethnic. Languages and dialect available are based on the majority of that language
or dialect speakers in Malaysia.
ii) Price (Fee for Service)
For pricing strategy, Dream Trip will be utilising penetrating and economy pricing strategies.
Dream Trip will first utilise penetrating pricing strategy by providing little to none service
fee for using services in our mobile application. This will be to attract and gain market shares
as our company just penetrate the market. After six months of operation Dream Trip will
swap for the economy pricing strategy to attract consumers to use our services during non-
peak season.
Most revenues for our mobile application will come from Business to business (B2B)
transaction. Most of the services in our mobile application will be free while businesses
collaborating with us will be charged a small fee for each customer served in our mobile
platform. A 20% margin of shares from fees collected from users will be taken as
commission while 80% will be given back to respective businesses monthly. The 20%
margin will not be fixed allowing a lower margin for businesses achieving 500,000 or more
users. For example, a reduction to 17% margin if selected business has 500,000 users for the
particular month. This margin can further drop if 1,000,000 users use a service from a
specific business in our mobile application. For businesses having 1,000,000 users under our
application for the month, they will only have to pay a commission of 15% margin.
Number of Users using the Business Service Percentage of Margin Collected for
Commission from B2B
Below 500,000 20%
500,000-999,999 17%
1,000,000 & Above 15%
(Table 4 : Formula for Commission)

17
iii) Promotion
Dream Trip will be implementing reward point-based loyalty to retain users. Rewards can be
exchange in the mobile application through point. Points are accumulated through daily login
in the mobile application and also for every RM 1 Spent. Each RM 1 will give the user 10
point while opening the mobile application daily will give the user free 1 point. Points can
then be redeem for gifts or rewards in the application.
Dream Trip will also be adding a tier system to reward users for their money spent and
loyalty in using the application. The tier system will be as follows, bronze, silver, gold,
platinum and diamond user. The higher the tier, users will be given more perks, benefit and
priority over lower tier users. Higher tier will also make points needed for redemption lower
making it cheaper point for higher tier users to exchange their points for reward.
iv) Place
Dream Trip will be providing all its tourism services in the mobile application and utilise
direct selling method by dealing with consumers all within the application. All users’
transaction can be done within the application without the need for approaching the physical
store or office to complete transaction.
Our tourism services will also be available in our company website but without as many
perks as the mobile application. A pop-up notice will appear to persuade users to download
and use the mobile application for more perks and reward point collections.
Tourist and consumers can also receive our services through our collaborators. Smaller scale
businesses that do not have a proper platform for sales can also approach us to use our
platform for their business. The will only have to pay us commission for using our platform
as stated in price. Only corporate handling will be done outside the application and at our
physical office at Sunway Velocity. The physical store will not have business to consumer
(B2C) services that are available in our online website and mobile application.

18
4. OPERATIONS
4.1 Business premises (Office)
Location Lingkaran SV, Sunway Velocity, 55100 Kuala Lumpur
Type of
building
Business Centre
Space 2250 square feet
Rental RM 1266 per month (RM0.56 per square feet)
Insurance RM 150 per month
Utilities RM 1600 per month (electricity, water and wifi)
Advantages High speed internet access
Sources www.easyoffices.com
(Table 5: Business Premises)
4.2 Operational Procedures
The operation hour for our office is from 10 a.m. to 6 p.m. and the office will be operate 6 day a
week which will be from Monday to Saturday. Our company is selling our products and services
online, so we will not be having any physical store.
4.3 Personnel & Equipment needs and uses
Personnel No. Needs and Uses
Project Manager 1 Responsible to streamlining the entire development
process from start to finish, managing and preventing
roadblocks in communication, ensure the entire team has
the same vision regarding the application that is being
developed.

19
UX Designer 1 Help with an impeccable interface, also with aspects
related to marketing and branding, creation of the logo
for the application.
Technical Writer 2 Technical documentation, involved in development,
marketing research, information about technology being
used, the time-line and budget.
Developer 2 Responsible of technicalities of the application, writing
code, ensure the application continues to work
seamlessly even after it has been launched.
QA Tester 1 Search for bugs and make sure they are eliminated.
Responsible for training, setting standards, reviewing
quality and selecting tools.
(Table 6 : Personnel needs and uses)
Equipment No Cost per Unit (RM) Needs and Uses
Office Desk 11 RM 640 Used for computing purposes
Conference
table
1 RM 400 Used for meeting purposes
Reception
table
1 RM 175 Used in reception area, to create a
good first impression to clients
Office Chair 16 RM 79 Placed in conference room and
reception area.
Gaming
Chair
7 RM 299 To improve the ergonomics of the
staffs
Bean bag 2 RM 65 Placed in reception area as waiting
area

20
Couch 1 RM 499 Placed in reception area as waiting
area
Air -
Conditioner
2 RM 2299 Cool down the working environment
Ceiling Air
Conditioner
2 RM 3300 To cool down the working
environment
CCTV
camera
5 RM 185 Improve the surveillance of the
company
Personal
Computer
5 RM 2449 Tool required for application
development
Personal
Computer
for IT team
7 RM 4855 Tool required for application
development
Phone 3 RM 3999 To test the application
Fire
Extinguisher
4 RM 145 To prevent fire incidents happen
Smoke
Alarm
12 RM 15 To prevent fire incidents happen
(Table 7 : Equipment needs and uses)
5. MANAGEMENT
5.1 Management Team

21
Loo Hong Lin
Chief Executive Officer
BA Human Resource Management, MBA, PhD
Emily Chee Meng Yee
Project Manager
BA Human Resource Management, MBA, PhD
Saw Xian Wei
Chief Operating Officer
BA Human Resource Management, MBA, PhD
Chong Kah Wai
Chief Financial Officer
BA Finance, MBA, ACCA
Siew Remy Aaron
Chief Marketing Officer
BA Marketing, MBA, PhD

22
5.2 Legal Structure
Company Structure : Dream Team Ltd
Dream Team Ltd will be operate in the form of a corporation so that we could easily received
funds and investments from the public to develop our company. Five of us will be responsible to
operate the company based on our skills, knowledge and experiences. Our company operates
under one idea which is to provides the best quality of service to our customers.
5.3 Organisational Chart
Initially, Dream Team will operate with only five of us and a project/development team (Refer to
Appendix 5). However, as the operations grow, the company will recruit more team members as
required.
The CEO is responsible for creating, planning, implementing and integrating the strategic
direction of a company. They may ask for input on major decisions but they are the final decision
maker. COO is tasked with overseeing the day-to-day administrative and operational functions of
the company. COO reports directly to CEO and is considered to be the second in the chain of
command. CMO is responsible for activities related to creating, communicating, and delivering
offerings that have value for customers, clients or business partners. CMO mission is to facilitate
company’s growth and increase sales by developing a comprehensive marketing plan that would
promote our brand recognition and help the company to gain competitive advantage. CFO is
responsible for managing the financial actions of the company. The CFO tasked with financial
planning, tracking cash flow, analysing the company’s financial strengths and weaknesses and
proposing corrective actions. Project manager is responsible to streamlining the entire
development process from start to finish, managing and preventing roadblocks in
communication, and ensure the entire team has the same vision regarding the application that is
being developed.
5.4 Professional and Advisory Support
List of the Board of directors and management advisory board :
1. CEO - 1

23
2. COO - 1
3. CMO - 1
4. CFO - 1
5. Project Manager - 1
6. FINANCIAL STATEMENT
6.1 Start-up Capital (Refer to Appendix 6)
The amount of money we have gotten for our company to start-up a business is RM1,284,232
and this capital will be spend on non-current asset, deposit and prepayment, pre-operating cost
and working capital requirement for the first six months. On the other hand, RM1,000,000 will
be loan by SME bank and RM284,232 will be invested by our shareholders.
6.2 Table of Assumption (Refer to Appendix 7)
Premise and signboard license together cost around RM3,000 per annum included with agent and
government fees (DBKL 2019). Secretarial fee which include tax agent and auditors cost us
around RM5,400 per year (Registercompany2u 2019). Our company buy insurance from AIA
which cost RM150 per month which is equivalent to RM1,800 per year (AIA.com 2019). Rental
for our office which located at Lingkaran SV is RM1,266 (easyoffices 2019).The amount of EPF
that contribute by employer will be given according to the KWSP third schedule (KWSP 2019).
The amount of SOCSO that contribute by employer will be given based on the contribution of
the first category that stated by PERKESO (PERKESO 2019). We assume that the amount of
EPF and SOCSO will be increased by 2% in Year 3. For computer repair and maintenance we
assume it cost us around RM600 per month (Qvice 2011). Billboard advertising cost us around
RM80,000 per month (Advertising.my 2019). The advertising cost will decrease in year 2 and
year 3 because we will choose different type of billboard advertising. For the corporate tax, the
standard tax rate is 24%. However, for SMEs with a paid-up capital of RM2.5 million or less, the
special tax rate of 18% on the first RM500,000 chargeable income is applicable while chargeable
income above RM500,000 is taxable at the standard rate of 24% (PWC 2019). Furthermore, our
company get loan from SME bank for 3 year with a interest of 4% (Ringgitplus 2019).

24
6.3 Pro forma Income Statement (Refer to Appendix 13 & 14)
In year 1 which is 2021, our company anticipated to generate a total revenue of RM3,532,902.
After deduction of pre-operating expenses and operating expenses which cost us RM2,554,681,
the net profit earned by our company is RM978,221. Our company do not contain any cost of
good sold because we only sell services in our businesses and there is no product. Net profit after
tax is RM776,185 where the tax is cost around RM202,037.
In year 2, our company estimated revenue is RM3,638,889 where it increased 3% from year 1.
The amount of operating expenses is around RM2,245,131. After deduction of operating
expenses, our company gain a net profit of RM1,393,758. The tax for year 2 is RM313,672
where 18% charge on the first RM500,000 of net profit and 24% charge on the amount that
exceed RM500,000. Thus, after charges of taxation, our company net profit is RM1,080,087.
In year 3, our company revenue would be approximately RM3,748,056 where it also increased
by 3% from year 2. After deducting operating expenses which cost RM2,260,966, our company
gain a net profit of RM1,487,090. The chargeable tax for year 3 is RM334,652 and therefore our
company net profit is RM1,152,437 after relevant deduction.
6.4 Pro forma Cash Flow Statement (refer to appendix 15 & 16)
At the beginning of year 2021 which is January of year 1, our company hold a cash of
RM412,386 which came from the remaining amount after the deduction of cash disbursement
from paid in capital and bank loan. The total cash available for year 1 is RM4,817,134 while the
total cash disbursement is RM3,759,468. After deduction of cash disbursement with cash
available, the ending cash balance of the year is RM1,057,666.
The ending cash balance in year 1 which is RM1,057,666 will bring forward to year 2 as a
beginning cash. The total cash available in year 2 is RM4,696,555 while the total cash
disbursement is RM2,760,524. After deduction of cash disbursement, the ending cash balance of
the year 2 is RM1,936,031.
Same goes to year 3, the ending cash of year 2 will be bring forward to year 3 as a beginning
cash. Therefore, the beginning cash of year 3 is RM1,936,031. In year 3, the total cash available
is RM5,684,087 and the total cash disbursement is RM2,632,561. After deduction of cash

25
disbursement, the ending cash balance of the year 3 is RM3,051,527.
6.5 Pro forma Balance Sheets (Refer to Appendix 17)
In year 1 which is 2021, the total current assets is RM1,060,831 while the total non-current
assets is RM514,557. When both total current assets and total non-current assets sum up, it result
a total of RM1,575,388 which known as total assets. The total liabilities is RM514,971 while the
total shareholders’ equity is RM1,060,417. When both total liabilities and total shareholders’
equity sum up, it result a total of RM1,575,388. The amount of total assets is equal to total
liabilities and shareholders’ equity.
In year 2, the total assets is RM2,315,599 which came from the combination of total current
assets which is RM1,939,196 and the total non-current assets which is RM376,403. The total
liabilities in year 2 is RM175,096 while the total shareholders’ equity is RM2,140,503. The total
liabilities and total shareholders’ equity is RM2,315,599.
In year 3, the total current assets is RM3,054,692 while the total non-current assets is
RM238,249. The amount of total assets will be RM3,292,941. The total liabilities in year 3 is
RM0 because the loan is cleared. The total shareholders’ equity is RM3,292,941. Therefore, total
assets is equal to total liabilities and shareholders’ equity.
6.6 Ratio Analysis and Break-even Analysis (Refer to Appendix 18)
Ratio Descriptions
Net Profit Margin The net profit margin in year 2021 is 21.97 while we
estimate that it will increase to 29.68 in year 2022 and
continue increase to 30.75 in the year of 2023. This
indicate that our company make a profit of RM21.97
for each services made. This shows that our company
is doing well in controlling our service costs
Return on Assets (ROA)/Investment The ROA of our company in year 2021 is 0.49.
Unfortunately, it decline to 0.47 in the year 2022 and
further decline in year 2023 to 0.35. It shows that our
company are weak in utilising the assets to generate

26
more profit.
Current Ratio The current ratio is not available in our company due to
the company does not have current liabilities.
Interest Coverage Ratio The interest coverage ratio for our company increases
throughout the years from 21.99 to 97.70 in year 2022
and expected to increase to 727.12 in year 2023. This
indicate that our company able to pay our interest
payments when it comes to due.
Asset Turnover Ratio The asset turnover ratio in 2021 is 2.24 and it decrease
to 1.87 in year 2022 and continue decrease to 1.34 in
year 2023. This shows that there is RM2.24 of sales
generated from each Ringgit of our company’s assets.
Account Receivable Turnover The account receivable turnover unable to calculate
due to the lack of information.
Debt Ratio The debt ratio of our company decreases from 0.33 to
0.08 in year 2022 and 0 in year 2023. This shows that
our company is more stable due to low debt ratio. It
also indicates that our company able to pay off our
debts in year 2023.
Debt to equity The debt to equity of our company decrease from 0.49
to 0.08 in year 2022 and 0 in year 2023. This shows
that our company become more stable due to the low
debt to equity.
Breakeven Value The breakeven value of our company would be at
RM2,517,121 which means our company need to
achieve a sales revenue that are higher than
RM2,517,121 in order to make profit. Since that the
cumulated net profit of our company in August and

27
September 2021 are RM2,355,268 and RM2,649,677
respectively, our company is expected to make profit in
between August and September which is 8 to 9 month
after launch our application.
7. POTENTIAL RISK FACTOR
Risk is a thing that every organisation will eventually face at every phase of the business, from
developing to launching and operating. Therefore, every organisation would confront different
type of risk depending on which sector they go into. As for us, we are emphasising in technology
sector and the possibility of us facing similar potential risk factor with businesses within the
same scope. But we could also face a few opposed risks because we provide different category of
product and services. Hence, we believe that the potential risk we identified are interrelated to
each other and every risk could bring an impact to our overall business performance.
7.1 Cybersecurity Risk
Cybersecurity risk is a risk that stipulate chances of loss in information data from cyber-attack or
data breaches in the organisation (TALENTEDGE 2019). Cybersecurity risk are deemed as a
risk that could destroy our company reputation and it also could also bring certain loss to our
customers. We fully operate through an application and customer data are stored within the
application inclusive of their personal details and bank details. Which consequently could be
used for illegal purposes or loss in money due to cyber-attack.
Thus, we would hire cyber security experts to overlook with our system in order to mitigate the
risk and protect the business and customers’ data from cyber-attack. However, we will also
install a cyber security software that would prevent hackers to conduct a cyber-attack on our
company as it would act as a firewall to block hackers. Lastly, we will develop a system that
assist us in backing up our data for recovery.
7.2 Partner Risk
Partner Risk are defined as a risk that by any chance of your collaborated business partner are

28
unable to execute their obligation or the quality of work provided are not satisfied (Spacey
2015). Partner risk arises due to collaboration with other companies in our services in order to
serve our customers. We provides a platform that supply customer with all types of services for
traveling but there are a few services that was provided by our collaborators. For example of
Google for translation and map, Airbnb for accommodation and others.
Thereafter, we would constantly ensure that our collaborated business partner are in good
condition to serve our customers and also prepare an alternative way to execute partner’s
obligation if they are not able to perform their duty. Furthermore, in our application we will also
provide a segmented feedback platform based on category of services provided for our customer.
With the purpose of receiving information in regards of quality of services through rating system
and from the rating we would send a feedback to our partner to further improve the services.
7.3 Technology Risk
Technology risk are known as a risk that might occur with technology failure that would affect
the business operation or processes (Spacey 2016). There is variety of technology risk in
business and we perceive technology as a potential risk factor because we highly require
technology in order to sell our services to consumers, as we operate through an application that is
accessible through Android or IOS (Spacey 2016). If there are probabilities of technology defects
in any aspect, it could lead to terrible consequences, for example of loss in revenue and
dissatisfaction from customers.
In order to avoid this issue, we will hire technician expert to remain on standby to take
immediate action if there is any technology issue occurring. We would also enforce a practice of
checking on our technology equipment daily and conduct frequent maintenance to ensure there is
no defect in our technology equipment. On the other hand, we will also prepare a backup
equipment in every aspect that could support our system as a substitute to deal with emergency
situations.
7.4 Operational Risk
Operational risk indicates the likeliness of loss that was brought by employee error, non-function
system and any event that could disrupt the business processes (Rouse 2013). In our company,
the biggest risk we have to handle will be operational risk. As our operations will require us to

29
cooperate with other businesses. Therefore, either any procedure failure by us or our
collaborators will consequently cause disturbance to the business processes.
Henceforth, we would consistently monitor and evaluate our whole system and employee to
prevent any error from our side. While at the same time, our company will also implement
periodic risk assessment to identify any potential operational risk and come up with a suitable
intervention to mitigate the possibility.
7.5 Economic Risk
Economic risk is a type of risk that arises due to macroeconomic factors, for example of
exchange rate, political stability and others that would affect the economy of a country
(InvestingAnswers 2019). Henceforth, economic factors that our company emphasis in this risk
is inflation rate that could influence on customer purchasing power as we are tourism industry.
Thus, cost of living, appreciation or depreciation in our currency would bring an impact to our
businesses in terms of revenue.
To deal with economic risk, other than our filter system in our application based on consumers
budget. We would also provide certain promotion scheme to attract tourists to use our
application for their trip which they would not feel travel as a burden.
8. IMPLEMENTATION PLAN

30
8.1 Pre-operation Activities
8.2 Operating Activities

31
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TheStar 2019, 30 million tourist arrivals for VM2020 can be easily achieved, says ministry,
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APPENDIX
(Appendix 1: Tourist Arrival & Total Receipts)
(Appendix 2: Tourist Arrival & Total Receipt Vision for the year 2020)

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(Appendix 3: Malaysia tourism industry market share)

36
(Appendix 4 : Zone of Office)
(Appendix 5 : Organisational Chart)