Fundamental of Entrepreneurship: Volvo V2V Business Plan

This business plan analyzes the potential of Volvo's V2V (Vehicle-to-Vehicle) communication technology. The report begins with an executive summary, followed by an introduction outlining the objectives, mission, and keys to success. It then presents a company summary, discusses services, and provides a competitive comparison, highlighting major players like BMW, Mercedes, and Audi. A detailed market analysis includes macro-environmental factors (political, economic, social, and technological) and a target market segment strategy. The plan also covers competition, buying patterns, strategy, and implementation summaries. The plan suggests that Volvo's V2V technology can be a pioneer in the automotive industry, ensuring car safety and easy communication on roads, leading to innovation and market competencies. The report concludes with a discussion of future services and the potential for growth in the international market.

RUNNING HEAD: FUNDEMENTALS OF ENTREPRENEUR
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Fundamental of Entrepreneurship
Business Plan of V2V Communication of Volvo
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Business Plan of Volvo 2
Executive Summary
The report provides with a business plan related to a V2V model for Volvo. It focuses on the
various aspects of a business plan and analysis the important aspects necessary to initiate a
change. The luxury car is one of the growing segments in the local as well as international
market. The consistent growth in the market will allow in managing definite results even after
extreme competition. Volvo has a market reputation and a big name in the manufacturing
industry. The major competitors of Volvo are BMW, Mercedes and Audi. In such a competitive
market situation, it is evident to develop a business plan by administering changes taking place at
an advantageous situation.

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Contents
Introduction......................................................................................................................................2
Objectives........................................................................................................................................2
Mission............................................................................................................................................3
Keys to success................................................................................................................................3
Company summary..........................................................................................................................3
Services............................................................................................................................................4
Competitive comparison..................................................................................................................4
Macro environmental factors...........................................................................................................5
POLITICAL.................................................................................................................................5
ECONOMIC................................................................................................................................5
SOCIAL.......................................................................................................................................6
TECHNOLOGY..........................................................................................................................6
Future services.................................................................................................................................6
Market Analysis Summary..............................................................................................................7
Target market segment strategy.......................................................................................................7
Competition and buying pattern......................................................................................................7
Main competition.............................................................................................................................8
Strategy and implementation summary...........................................................................................8

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Conclusion.......................................................................................................................................8
References........................................................................................................................................8

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Introduction
The report provides with a business plan for Volvo and evaluates the product innovation and
development in existing time-frame. The entrepreneurial development in a company is
important to gain competencies in today’s business scenario. The business plan focus on
innovation in the luxury cars and describe the potential marketing interventions in order to deal
with the contingencies, Volvo is an international luxurious brand in automobile industry. In order
to understand the market strengths and weakness, it is evident to develop a comprehensive plan

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in advance. This will help in avoiding situations that might affect the business plan execution. A
professional business plan is focussed on attaining distinguished result with a market centric
approach.
Objectives
The primary objective is to gain market competencies by developing a suitable business idea and
to implement it in an effective way. For managing changes, it is evident to manage an effective
business plan that helps in gaining appropriate market share. The changing dynamics in the
market allows in defining the sustainable market position by deriving the appropriate policies.
Innovative car is the new way to gain market competencies. The business plan provides an
estimation regarding the project stages (McKeever, 2016). It allows investors to gain an insight
into the project development. The purpose is to align the objective of the organization with the
realistic approach. Innovation in the company manufacturing process will allow in developing
long term sustainable goals. It provides with a concrete vision where the approach is to gain a
market insight. The objective of the business plan is to gain market certainty by developing V2V
model. This model will help in incorporating innovations (Wagner, Ortman and Maxfield, 2016).
This will allow the business in growth and development. The V2V model will help in ensuring
car safety and an easy communication on roads. This will help in ensuring easy communication
in cars. They can avoid accidents and traffic congestion occurring on roads. It is a part of
intelligent transportation system.
Mission
The mission of the company is to develop multi-fold opportunities for the business organization
to gain competencies. Volvo has a mission to incorporate changes in an effective way by gaining
competencies. Innovation is important aspect in an organizational growth and development. This
parameter is important to gain effectiveness in gaining long-term sustainable results. By this it is
possible to deploy effective marketing strategies to compete against the other brands in the
market

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Keys to success
Volvo is a well-established brand in the market with a focus to gain luxury car market. It is more
or less evident that the key to success for Volvo is to deploy effective marketing and expansion
strategies. These strategies will allow the brand in gaining a sustainable market position with
distinctive results. The purpose of managing the key development policies in advance is to gain
the concrete results in long run. These sustainable marketing objectives focus on making desired
changes in the market (Schaper, et al 2014).
Company summary
Volvo is a Swedish automobile brand manufacturing luxury cars, buses and other customized
automobile. It has a good name in the international market due to its market based strategy and
luxury car line. The brand was founded by Assar Gabrielsson and Gustav in 1927. The
headquarters of the company is located in Gothenburg, Sweden. The brand is known for its
distinctive market objectives and preliminary goals. In order to meet the objectives, the brand is
diversifying in the international market by manufacturing customized cars this is helping the
brand in gaining a sustainable market position and growth. This is an effective parameter that is
made applicable by the company in order to gain a consistent growth chart. While expanding
business to an international market it is advisable to consider the local market. This will allow
the brand in gaining assurance about the growth prospect. This will be helpful for the brand like
Volvo to develop core market policies in order to gain result. The automobile company is
consistently growing in the international market while planning to grow new line of vehicles
(Volvo.com. 2017).
Services
Currently many automobile companies are working on V2V technology. The system will be
based on WIFI and will allow in an easy communication. Development of an ad hoc network
based system will help the car in avoiding accidents. Over the years many automobile companies
are working on this technology. By developing this mechanism it will be possible for Volvo to
be the pioneer of the technology (Baker, 2014). V2V communication model will help Volvo in
creating a core competency in the market. A major section in the Automobile industry is
planning to make an investment in this technology. Growth is only possible if the company

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specifically focus on gaining core competency in this sector. This will help them in gaining
concrete market objectives in a long term plan. In coming year, V2V will become a mandatory
necessity in the vehicle. With an increase in the rate of accidents, it is important to develop core
competency in ongoing market objectives. By adding distinctive services and object, it will be
easy for Volvo to meet the targets. For now there are conflicts occurring due to spectra. After
this the company can effectively gain market objectives on a long run. These distinct goals have
a capability to manage the sustainable goals (Armstrong, et al 2015).
Competitive comparison
There are majority of market competitors in luxury automobile industry. In order to grow
distinctly it is important to be a pioneer in this technology and to gain US, Europe and Australian
market. There will be an upsurging demand in this context. This growth will eventually help in
managing the sustainable results. Many universities across the world are making a research in
the distinctive field of V2V model. This technology mechanism will allow in managing distinct
goals in every country. Technology and innovation is important for the growth of each and every
sector (Johnston and Marshall, 2016). By managing the distinct objectives and goals, it is easy
for a business organization to manage effectiveness in the current market situation. Different
market competitors are BMW, Daimler, Honda, Audi, and Toyota. These companies are already
planning to develop an effective technology and mechanism to gain competency in the market
(Cetindamar, Phaal, and Probert, 2016). Over the years of research and growth in the field of
technology and innovation it is appropriate to look out for effective market goals. These goals
will help in gaining distinctness in many ways Growth is only possible if the companies do
understand an effective market capabilities. Critics do have argued about the enforcement of this
technology in the vehicles. This is only possible if there will be possible changes in the
automobile industry. These changes will allow in managing the risk in the most appropriate way.
This will allow the business organization in gaining competency in order to develop marketing
objectives. The purpose of this technology is to develop core competency and to grow in a
distinctive way. The business plan provides an estimation regarding the project stages. It allows
investors to gain an insight into the project development. The purpose is to align the objective of
the organization with the realistic approach. It is appropriate for the company in gaining desired

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objectives by incorporating innovative technology. These technological up-gradation help in
managing the changes (Dodgson, Gann and Phillips, 2013).
Macro environmental factors
In order to grow distinct characteristic of a business, it is important to look into the changing
macro environmental pattern. It is necessary to study the local market before making any
advancement. This will help in attaining growth and development. The purpose of a business
organization is to manage the changing environment factors like- Political, social, economic and
technological factors. Before initiating the technology in the market, it is relevant to manage the
changes taking place in the environment. It is important to read the local market and to
incorporate market advancement policies (Norman and Verganti, 2014).
POLITICAL
V2V technology will still take some time for an effective implementation. Countries like USA,
UK are doing comprehensive research in implementing this technology in order to reduce
competition. It is important to read the political policies and structure in order to grow in the
market. It is recommended to make advancement in the developed countries Like USA, UK,
Europe etc to gain competency.
ECONOMIC
This technology will be relatively expensive in terms of implementation. Hence it is relevant to
do a thorough market research and to make advancement accordingly. This is important for
Volvo to make changes as appropriate so as to gain competency in the market. The economic
factors like per capita income, standard of living, lifestyle etc are important factors to be
considered before making any advancement. These changes taking place in the surroundings will
help in incorporating changes in the ongoing market capacity.
SOCIAL
The social status of people in the country is relevant to be studied in order to make any further
advancement. Growth and development is only possible if changes are incorporated in an
effective way. The changes need to be made by considering ongoing factors in the appropriate

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country and to develop policies accordingly. These policies will allow a business organization in
gaining distinct market objectives.
TECHNOLOGY
A thorough analysis of technological factors is important to be made in order to gain market
competency. The purpose of the business organization is to manage the changes and to develop
an innovative technology in order to handle the crises. This will relatively helpful in managing
growth and development in the sector. The Automobile industry is making advancement and to
gain appropriateness as per the changing market scenario. These changes are appropriate in
gaining market contingencies. Innovation is the primary base of Volvo. They are incorporating
changes in order to gain effectiveness in the industry (Harding et al 2014).
Depiction of v2v model
Future services
The company can slowly diversify in the market and can develop a better and comprehended
technology in order to grow. At present there are certain barriers that are visible in the V2V
sector. With time these barriers will diminish which will create more opportunities in the
international market. By developing a core competency it will be easy for the brand to manage
the changes that are taking place in the surrounding(Jerome, Monk and Campbell, 2015). These
core competencies can be used for ensuring regular growth and development. After the
acceptance of technology in the current scenario there are possibilities of growth in the other

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countries. By adding on new services and technology it will be easy for the organization to gain
better results for growth. This will be appropriate in managing long-term result in favouring
growth. It is necessary for gaining competency against the other international brands. V2V
technology is believed to gain market advantage in coming years (Narla, 2013). By incorporating
an effective changes and development process, it will be easy to manage the changes and to gain
competency in ongoing market scenario. The changing dynamics in the market allows in
defining the sustainable market position by deriving the appropriate policies. Innovative car is
the new way to gain market competencies (Lagrosen, 2014).
Market Analysis Summary
The overall cost of this technology will be very high. In such a situation it is recommended to
understand the market situation and to make advancement accordingly. The technology will
grow in international market including UK, USA, Europe, UAE etc. These markets use better
technology and focus on gaining market competencies through development of effective
technology. The focus of the technology is to reduce the accidents and to provide an easy way to
communicate. This will however help in managing changes that are taking place in the
environment. The market analysis includes the growing trends and changes taking place in the
market and to plot effective market objectives in order to direct growth (Kotler and Gertner,
2002).
Target market segment strategy
Volvo is focusing on the luxury car users. It involves sports car as well. The target is to create
awareness in the market and to develop a better growth opportunities by focusing on each and
every target market. At an initial level the focus will be the luxury cars. In coming years there are
plans to focus on automobiles at each segment.
Competition and buying pattern
Currently consumers are inclined towards the purchase of luxury car. The section covered is the
youth. They are the one who are more inclined towards buying technology up-graded cars. This
will help in reducing the number of accidents taking place on roads and will create a proper

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accessibility. The rate of highway accidents is increasing, in such a situation V2V technology
will help in creating awareness.
Main competition
BMW, Daimler, Honda, Audi, and Toyota-These companies are currently developing V2V based
model. They can cause competition to the company looking onto the current market situation.
These companies involve a vast market and known for its luxury features (Onkvisit and Shaw,
2004).
Strategy and implementation summary
In the initial year the primary focus will be to develop an effective market strategy. This can be
gained through a better market scope and structure. After the finalization of Spectra, the
company will penetrate in USA Market. It is a vast market providing with manifold
opportunities. By gaining the market, it will be easy to gain objectives on a long run. After the
successful trial, the company can make advancement in the Australian market. In this way they
can manage the market at a different time. There is already a lot of competition in the market
(Kapferer and Bastien, 2012). There is the possibility to manage the changes by developing
concrete objects in order to gain results. V2V communication model will help Volvo in creating
a core competency in the market.
Conclusion
To conclude, by incorporating effective changes and innovation through an effective market
strategy it is evident for the brand to gain distinct objectives. This is evident from the current
market scenario that the luxury car market is growing at a fast rate increasing the overall scope.
This helps in gaining desired organisational goals and help in managing success on a distinctive
parameter. The primacy goal of an international brand is to penetrate in market through
competitive policies. Volvo already has competitive market policies but it has to develop better
policies in order to gain market competency. By incorporating technology based model, it will
be better for Volvo to gain competitive advantage.
References

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Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction.
Pearson Education.
Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.
Cetindamar, D., Phaal, R. and Probert, D., 2016. Technology management: activities and tools.
Palgrave Macmillan.
Dodgson, M., Gann, D.M. and Phillips, N. eds., 2013. The Oxford handbook of innovation
management. OUP Oxford.
Harding, J., Powell, G., Yoon, R., Fikentscher, J., Doyle, C., Sade, D., Lukuc, M., Simons, J. and
Wang, J., 2014. Vehicle-to-vehicle communications: Readiness of V2V technology for
application
Jerome, C., Monk, C. and Campbell, J., 2015. Driver Vehicle Interface Design Assistance for
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brand management perspective. Journal of brand management, 9(4), pp.249-261.
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