Occasion Software: A Comprehensive Business Plan Report

This report outlines a comprehensive business plan for 'Occasion,' a software designed to streamline event management. The report begins with an executive summary and acknowledgment, followed by an introduction that presents the rationale, scenario, mission, vision, aims, objectives, and research questions. Chapter 2 delves into the business concept, detailing the product/service description, target market, positioning strategy, and value added. Chapter 3 provides a literature review, including industry analysis. Chapter 4 discusses the research methodology, covering research type, approach, philosophy, design, data analysis, collection, and ethical considerations. Chapter 5 presents data analysis and findings, including the impact of the business concept, risk assessment, mitigation strategies, cost projections, and a performance review. The report concludes with recommendations and a conclusion based on the research findings. The software aims to help event management companies to manage their events and furnish them in a definite way.

REPORT ON OCCASION
SOFTWARE
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TABLE OF CONTENT
EXECUTIVE SUMMARY.............................................................................................................3
ACKNOLEDGEMENT...................................................................................................................4
CHAPTER 1: THE INTRODUCTION...........................................................................................5
1.1 The rationale of the business opportunity:.............................................................................5
1.2 Scenario chosen:....................................................................................................................6
1.3 Mission:.................................................................................................................................6
1.4 Vision:....................................................................................................................................6
1.5. Aim:......................................................................................................................................6
1.6 Objectives:.............................................................................................................................6
Research question:.......................................................................................................................7
1.7. Dissertation structure:...........................................................................................................7
CHAPTER 2: THE BUSINESS CONCEPT...................................................................................8
2.1 Introduction:..........................................................................................................................8
2.2 Description of business concept............................................................................................8
2.3 Product/ service description...................................................................................................9
2.4 The target market:..................................................................................................................9
2.5 Positioning strategy...............................................................................................................9
2.6 Value added...........................................................................................................................9
2.7Who is involved......................................................................................................................9
2.8Window of opportunity...........................................................................................................9
2.9 Chapter summary...................................................................................................................9
CHAPTER 3: THE LITERATURE REVIEW................................................................................9
3.1 Introduction:..........................................................................................................................9
3.2 Industry analysis:.................................................................................................................10
3.3 Chapter summary:................................................................................................................18
CHAPTER 4 RESEARCH METHODOLOGY............................................................................18
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Research type:............................................................................................................................18
Research approach:....................................................................................................................19
Research philosophy..................................................................................................................19
Research design.........................................................................................................................19
Data analysis..............................................................................................................................20
Data collection...........................................................................................................................20
Ethical consideration.................................................................................................................21
Reliability and Validity..............................................................................................................21
Research limitation....................................................................................................................21
CHAPTER 5 DATA ANALYSIS AND FINDINGS....................................................................22
Theme 1: Impact and benefit of new business concept:............................................................22
Risk:...........................................................................................................................................23
Risk mitigation strategies:.........................................................................................................24
Cost and cost projection for new venture:.................................................................................25
Performance review of business plan:.......................................................................................27
CHAPTER 6: CONCLUSION AND RECOMMENDATION.....................................................28
Recommendation:......................................................................................................................29
REFERENCES..............................................................................................................................32
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EXECUTIVE SUMMARY
Software is a set of program which is used by computer to provide the operating information
from where an individual can perform the work in definite manner. Using the software for
different work purposed it helps the people to perform their work activities in successful manner
and can deliver the result accordingly. In this current report, it will mention a business plan
where a software named Occasion will help the event management companies to manage their
events in definite manner and can furnish the events in definite way. Study will follow the
business plan and research structure where it will highlight the introduction, business concept,
literature review, methodologies and even findings and analysis along with recommendations
and conclusion sections.
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ACKNOWLEDGEMENT
I would like to acknowledge appreciation and support given by my professor in order to
complete this study. Before that I was always thinking that I will be able to complete this or not
but throughout the study my professor supported me a lot, for that I would like to give my
warmest thanks to my professor. I would also like to thanks my peers who have motivated me in
completing my study, I always got support from them whether it’s about resource arrangement or
other things they have always supported me. And finally I would thank my parents or other
family members who have shown trust in me that is why I am able to complete this project at
good point.
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CHAPTER 1: THE INTRODUCTION
1.1 The rationale of the business opportunity:
Occasion software is new business software which is best in planning small scale event
including birthday party, ring ceremony, wedding, music and dance and other community event
that require effective planning. This software application helps event planner to quickly get idea
how exactly an event will be going to look and how much will it cost, this software has certain
features that remind user to perform certain tasks to make an event more successful (Kutrzeba,
2017). There are many cases where event planning tools are used to bring human efforts low, this
business idea was carefully examined with proper understanding of market and demand of such
type of application. Every human work is not easy to perform because with the help of software
application that are designed in such a way that human efforts, time and money are saved in
proper manner.
Background to the research:
Business plan is one of the most common terms in business world, plan may include step
by step process to start a business idea and serve customer. Entrepreneurs who craft effective
plan knows insight and opportunity of the industry, they try to catch those opportunities and
convert them into business idea (Moro Visconti, 2019). This research is based on event
organizing software called Occasion, it is very clear that there is high demand of mobile phone
application, these demands occur according to change in customer preference and trend in the
industry. Every individual need smart phone to plan and explore different area, there are number
of application available that allow user to bring easiness in their daily work (Frederick,
O'Connor and Kuratko, 2018). This business plan is based on idea that can bring easiness in
planning important event or occasion, this software application not only plan event but this
allows user to add certain other things for example, add list of guest, timer, reminder, planner
and introducer that help user to make their event perfect and meet the demand according to
requirement. Everyone in today’s market looking for quick services and in event industry it is
necessary to arrange all arrangement earlier before the event. Therefore, this Occasion software
will help in arranging all necessary arrangement so that there will be no chances of any failure.
Current market data suggests that such software are in demand that helps in providing efficient
and quick result.
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1.2 Scenario chosen:
There are many cases where people miss important things in the party or event because
they have not planned properly, sometimes birthday and occasion get spoiled because of this
reason. It is very clear that there is less supply of those application that plan accurate event for a
user, this business idea will cover all those weak points or missed out features that are required
when planning a wonderful event. This business idea not only going to solve event related
problem, but this idea will generate surplus profit as occasion and event are ongoing activities of
human life. It is a new business Idea behind selecting ‘Occasion’ as business plan intents to
capture greater market where different platforms are available for different work but there is
limited platform that plan and organize events for special occasion (Ekanem, 2017).
1.3 Mission:
 Mission: This software application will include certain features and facility that allow
user to get super experience, and this will help them to avoid any mistake that bring down
excitement of the event.
1.4 Vision:
 Vision: Event planning is one of the most challenging tasks for individuals, these events
are either in large scale or in small house party. Vision is to become leading event
management application.
1.5. Aim:
To develop and assess a business plan for proposed idea of launching/ developing a new
application software named ‘occasion’. Its main functionalities is that it helps in providing best
booking experience and helps in creating more repeatable bookings (Balkan, 2019). It showcases
user’s experience with attractive and irresistible calendars as well as it let the event companies to
manage their occasions. Other functionality of this software also suggests that it cut down the
spent time on admin so event firm can easily focus on growing their consumer base.
1.6 Objectives:
 To propose the strategies for making a business venture successful.
 To identify the challenges in launching a new business idea/ venture.
 To measure effectiveness of proposed business idea ‘’Occasion‘’ in terms of profitability
or key performance indicator.
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Research question:
 What are the best strategies for making a business venture successful?
 What are the challenges in launching a new business idea/venture?
 How to measure effectiveness of proposed business idea in terms of profitability or key
performance indicator?
1.7. Dissertation structure:
Chapter one: The introduction with background of the research or study and background of the
organization chosen in the study. Later significance and statement of the problem describing why
this plan is important to solve an issue. For the completion of this research, aims and objectives
with research question will be discussed.
Chapter two: The literature review with proper themes covering every possible aspect to
complete this study in effective manner. LR will focus on best strategies for making an business
successful, challenges that will arrive in the process of introducing the idea and ways to measure
effectiveness of business plan with profitability and key performance indicator.
Chapter three: Research methodologies that focus on every element of research methods
including research philosophies, approach, strategy, design. RM will focus on data collection and
data analysing process with sampling and primary methods. RM will focus on ethics and
limitation of the research.
Chapter four: Data analysis and finding will be discussed where primary data will be used to
answer research question and with support from literature review and will focus on using chart,
diagram, tables, figures and finding to perform data analysis in effective and best possible
manner.
Chapter five: Conclusion and recommendation will be provided to complete this research and
summarizing the key point covered in every chapter from the study.
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CHAPTER 2: THE BUSINESS CONCEPT
2.1 Introduction:
Business context encompasses understanding of critical factors of business that have
potential impact business operability from various purposes like how decision are being carried
and how processes are managed (Harris, 2019). Present business concept is about Occasion
software which is mainly used in event industries because of its compatibility and efficiency
which it provides. Current data suggests that most of the event industries are facing several
challenges in arranging their event dates as well as other activities, acknowledging an event is
also common problem faced by event companies. Thus this software is basically designed for
mitigating all the challenges, it helps in prioritising the event and other network activities so that
better decision can came out at right period of time (Tcholtchev, 2020). Most of the time event
planner team forgets to track schedules and budget changes which imposed certain challenges for
business. For an example event planner need to follow up with their key stakeholders and also to
ensure better communication to one centralised platform, additionally, they also have to arrange
project note so no delay can be made, but this process consumer more time, that is why Occasion
online platform is made in order to eliminate all time consuming possibilities. Following
business context will cover the description about concept of business while it also highlights the
decryption about products. Further it discusses the target market, positioning strategies and other
value add factors.
2.2 Description of business concept
Business concept for this project revolve around the software named “Occasion” it is a user
friendly software that helps in managing any event. Most probably it is designed for the event
industry so event organisation can proceed with to use such devices that incorporates with their
desired business goals (Li and et.al, 2022). Ultimately this software helps in successful planning,
execution and other intermediator process of any event. Occasion work as central hub for the
event planners to manage all listings and bookings it also helps in analysing the customer
information and other things. This software also let the event team to motivate their former
consumer to come back to other event.
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2.3 Product/ service description
Here, business product is “Occasion” a software that lets the event firm to manage all their
system, it helps the businesses in providing group experiences and they can easily acquire new
consumers (Capilla, and et.al, 2019). This software is compatible to all type of screen so user can
easily use it at any interface, as well as it is user friendly product so that event planners can
easily use it for organising any event. Therefore, by using such devices organisation can easily
have simplified their decision making process as well as they will be able to receive more
reliable data by the use of software. In short Occasion software is designed to ease out the
business processes of event company. This software also helps in scheduling the event calendar
so there will be no confusion related to list of events, it actually cut down the costs by
automating the routine tasks as well as it enables the firms to enhance as well as measure the
work productivity.
2.4 The target market:
Target market is the precise set of audience who look for the products and services, for any
business it is important for them to positioned their products in the market that is able to gain
attention of large consumer base. Therefore, for the software product relatively target market are
those where audience are tech savvy and show more interest towards technological products and
services (Laato and et.al, 2021). For the occasion software product target market is event
industry, as especially this product is designed for them to ease out their event business.
Therefore, this market segment is suitable for this software as there are number of buyers who
are ready to avail services of this occasion software.
2.5 Positioning strategy
Positioning strategy is a type of technique which is used to highlight the uniqueness of the
product that distinguish the brand from their competitors and can deliver the appropriate stable
position in the marketplace. Accordingly, in this current project, there is a business planning for
an online software which is called as Occasion. This software is having main purpose of
providing the services of event management where this application plans the events itself by their
functions and allow the customers to have the proper planning in relation with the event
handling. However, it is important for the event planners to have the appropriate knowledge of
the Occasion application which helps them to position their organization (Fadil, Trentesaux and
Branger, 2019). This positioning strategy based on building the position of the brand or any
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business from where they can increase their reputation in the marketplace and can improve their
organizational performance. Therefore, the event management companies can use the Occasion
application for positioning their business in the particular market and can increase their sales and
revenues.
2.6 Value added
To run any business, it is important for the management to understand the effectiveness
and benefits of starting any business. Accordingly, in the current project the event management
companies can use the software for managing their event planning and work activities like listing
of the guests, timer of reminder and such more where using this kind of applications help the
event firms to perform the business activities in definite order. Occasion software can add value
in the event management companies where this app supports the firm to boost up the sales by
providing the efficient information and arrangements of the event from where company can
create a good business reputation and image in the market which overall increases their revenue
and profitability.
2.7 Who is involved
In this project, there is an idea of starting using an application for developing the growth of
the event management companies where they can use the Occasion software for better outcome.
Accordingly, in this business plan, technical department, employee, event management
companies and customers are involved from where the profitable outcome can be achieved. To
work on any project, it requires different types of stakeholders to work on the project from where
they can obtain the effective result and outcome (Maguire, 2021). Thus, for making an accurate
business planning for the betterment of the event management companies, the team members or
employees of the firms can create well-structured plan where they also can give the
responsibilities to an individual person to work on the business planning from where the
effective outcome can be achieved.
2.8 The window of opportunity
By using the application for the event management, it will provide the successful outcome
and results as well. Occasion software is one the best application which can be used by the event
management companies from where it will handle the events of the clients or customers in
fruitful manner from where the successful outcome can be received by the companies. However,
by using the event management applications it helps to track the moving parts of the event and
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helps to run the entire process in smoothly manner (Aneesh and et.al., 2020). Event management
is the business area who plans and organizes the social events from where the social purpose can
be achieved by the clients. Accordingly, usage of the applications who helps in tracking and
adding the guest list is an effective help from which the company can grow and develop at
successful manner and can provide the results accordingly.
2.9 Chapter summary
In this chapter, it highlights the overview of the business which helps the individual to
understand this concept in detailed manner from where the knowledge can be increased in
definite way. In this chapter, it covers the introduction section where it has performed the
overview of the new business plan (Onashoga and et.al., 2018). Along with this, the second part
involves the description of business concept from which the report can provide the definite
results. However, the third part has highlighted the illustration of the product and services which
helps the event management companies to grow and develop their business in definite order.
Moreover, after this process the target market has been mentioned in the report from which it
will allow to understand the target people for the product where positioning strategy is also
mentioned from where event management companies can make their company at stable position.
Furthermore, it also described the effectiveness of the product who can add value to the
profitability and provides the opportunity to the companies for better contract areas. Thus, it is
important for an individual event management companies to understand the different kinds of
tools and applications where in this current report, Occasion software should use by the event
management companies so that they can improve their productivity level.
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