Carsome: Analysis of Business Opportunities and Challenges

This project provides a comprehensive business analysis of Carsome, a rapidly growing online car platform in Southeast Asia. It examines Carsome's business model, including customer acquisition, selling processes, and business development strategies. The analysis utilizes the Timmons model to assess entrepreneurial opportunities and the VRIO framework to evaluate resources and capabilities. The project identifies key issues such as customer acquisition difficulties, lengthy selling processes, and challenges in business development. It offers recommendations for improving customer satisfaction, expanding the market, and managing the business effectively. Furthermore, the project includes a timeline outlining the importance and implementation of various strategies, along with alternative plans to maintain a strategic advantage. The conclusion emphasizes the need for Carsome to adhere to recommended strategies, develop strong teams, and capitalize on expansion opportunities.

Management

Background of the
company
Carsome is headquartered in Malaysia
The company is considered as the fastest
growing online car in South East Asia
The expansion of the company can be attributed
to the fact that it helps in connecting customers
on a worldly basis
The services provided by Carsome includes
inspection, valuation, bidding, payment as well
as logistics
The services provided is usually under 24 hours
from the complaint made

Issues faced by the company
The biggest issue faced by the company is on
the selling of its car
Issues faced by Carsome includes:
Acquiring the
customers
Developing business
Process of selling the
car

Contd..
Acquiring customers: Searching the customers that
can be made as a target for the purchase of the car. It
requires for the seller to move from one place to
another
Process of selling the car: The process of selling a car
can be lengthy owing to the search of customers,
completing the necessary paper works and inspection
Developing business: Development of business can be
critical if the process of selling is difficult. It may involve
running in loss for sometime before proper stability

Contd..
Acquiring the
customers
Make direct
engagement Build relationships Implement feedback

Contd..
Undertake licensing Identify customers Inspect the cars
before launch
Process of selling the
car

Contd..
Developing business
May engage in loss Provide outsourcing
of people
Develop
management

Analysi
s
The analysis of the opportunity that can be
derived by Carsome in Malaysia can be
analysed via the application of the Timmons
model.
The Timmons model states that entrepreneur
business does not begin with the plan of the
business
It is of the belief that entrepreneurship is
opportunity driven
For Carsome, this type of entrepreneurship
opportunity is required to be grabbed by the
employees

Timmons model
Communication
Business plan
Fits and Gaps
Creativity Leadership
Founder
Resource
s
Opportuni
ty
Team

Opportunity
The new development of the company can be
seen as an opportunity for increasing its
business
Comply with the legal laws of Malaysia
regarding the sale of cars
Reach the entire number of the population of
Malaysia
Contd..

Resources
Funded by the investors
Good quality workers
Involvement of local as well as foreign
workers
Readily available technological advancement
Contd..

Team
Teamwork between the employees
Every team in each departments are aligned
with one another
The teams involved at Carsome includes
production team, manufacturing team,
technical team, human resource team as well
as sales and financial team
Contd..