LSC UoS BA Business: Entrepreneurship Business Plan - Robotics Hotel

This report details a business plan for a hotel, focusing on the innovative implementation of robotics in front office services. It begins with the rationales for launching the business, highlighting speed and consistency as key advantages. The report then provides a review of the industry, utilizing PESTLE analysis to assess political, economic, social, technological, legal, and environmental factors. A competitor analysis, using Porter's Five Forces model, identifies threats and opportunities, while also outlining the competitive advantages gained through robotics. Segmentation analysis, market statistics, and target customer profiles are included, followed by a marketing strategy incorporating the 7Ps of the marketing mix. Market growth strategies, resource requirements, and risk analysis are also addressed. The report concludes by emphasizing the hotel's vision of providing quick and efficient services through robotics, aiming to meet and exceed customer expectations.

Entrepreneurship and
Business development

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................4
Rationales for launching the business and its vision and mission..............................................4
Review of industry and macro/micro analysis of market place..................................................4
Competitor analysis and competitive advantage of product and service. Explanation of all
reasons behind its success...........................................................................................................5
Segmentation analysis, market statistics and who will buy the product and why......................7
Marketing strategy using 7Ps along with marketing mix analysis..............................................8
Market growth strategy...............................................................................................................9
Resources required for the venture including the source of finance.........................................10
Risk analysis..............................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
......................................................................................................................................................16

INTRODUCTION
Entrepreneurship is defined as the concept of establishing a new business and dealing
with all kind of risks associated with business in order to make profits. Entrepreneurship involve
four types of business which are small businesses, start-up, large company and social
entrepreneurship also. It is considered as the ability to enhance, organise and run whole business
while dealing with consequences also. In terms of business development it involve all ideas and
different activities which will make a business much better. It includes increment in revenue,
expansion of businesses, increase in profits by making effective business decisions(Akpan,
2020). The below report includes rationales for establishment of business, micro and macro
analysis of market place, competitor analysis, segmentation analysis and market statistics. The
report also includes marketing strategies, market growth strategy, resources required and risk
analysis. The report is based on the hotel “ Take a break” in which new technology is been
established in a hotel. The concept of robotics is been introduced at the front office services,
during check-ins and check-outs.
MAIN BODY
Rationales for launching the business and its vision and mission
There are many reasons behind launching the concept of robotics in hotel which is been
explained as below:- Speed:- The first and most important reason to apply the concept of robotics in front
office services is that their speed of giving services will be very fast as compared to what
humans do at the time of providing services. In terms of using robots, they never need a
break and while giving services to all guests during their check-ins as well as check-outs
they will be present at their place only. As the reason for starting a business and
developing the new concept of using robots will be the most efficient and attractive thing
to customers.

 Consistent:- By establishing the concept of robots in start-up hotel, the another reason
was that they were always been consistent to their position only as like human they don't
have any kind of emergency that they will be not present.
Vision:-
The vision of hotel “ Take a break” is to provide quick and fast services by establishing
the concept of robotics.
Mission:-
The mission of hotel “Take a break” is to provide all guests with complete unique
facilities and fulfil all expectations of consumers.
Review of industry and macro/micro analysis of market place
To determine the concept of market place in terms of macro and micro analysis it is been
explained as below:-
Pestle analysis:- Political factors:- As per the start-up of a hotel in terms of all political factors the
government holds huge power over whole hotel industry. For example, if government
does a travel ban then it will affect hospitality industry which will lead to loss in their
economy. Government also control taxes and at the election period of time there will be
complete different laws in accordance with that the tourism and hotel industry will get
affected immediately(CAMBA, 2020). Economic factors:- In terms of economy if there is any sort of changes that occurs within
the currency it will affect their industry. So, in context with start-up of “ Take a break”
also their economic factors were getting affected. Social factors:- In terms of “Take a break” it was a start-up which was inventing new
concept of using robotics in their front office department. So, as per the social factors
there are different kind of people and all of them have certain different expectations so as
a start up they are accepting all kinds of people and government assures that no
discrimination is been done. Technological factors:- In today's world advancement in technology is been done in a
major way. Now each hotel is been involved with cameras, Wi-Fi facilities, intercoms
and many more. So, it directly affects hotel industry also. In context with “ Take a break”

they were just starting their business so as in context with technology they were
innovating new effective concepts in their organisation. Legal factors:- In terms of all legal factors as in context with crime rates, Truth in menu
laws directly affects the organisation. If there are huge crimes been done then industry
will directly get affected by organisation. The location of business start-up should be
chosen appropriately in order to attract all audiences. The menu been provided should
also be good enough and hotels must be honest with what kind of food they will be
providing.
 Environmental factors:- These type of factors also affect business start-up. As there are
many environmental effects due to which there may be reduction in demand. As
government are putting pressure on hotels that they must not use carbon footprint so it
automatically creates impact on them. They should make use of biodegradable items so
that climate does not get affected. So, as a business-start-up they should also use those
materials only(Kurpayanidi and Ashurov, 2020).
Competitor analysis and competitive advantage of product and service. Explanation of all
reasons behind its success
To determine about competitor analysis of hotel “ Take a break” porter 5 forces model is
been used which is been explained as below:- Threat of new markets:-As a new start-up of hotel their capital cost should be such that it
is gaining their worth and through this they will be able to reach at the top position. The
hotels which are already their in the market place has some sort of advantage because
they are in the market since years and have developed good image and in terms of this it
will be a threat for them. So, in context with this hotel should be concerned about their
targets and after proper analysis then only innovate new things. Threat of substitute products:- In terms of hotel the threat is not much high because the
they are innovating a unique concept of providing services through robots which other
hotels are not providing so customers can easily get attracted towards their hotel but at
the same time if they will charge high prices as a start-up then they may face threat
because people don't want to pay high prices(Gu and et.al, 2021). Power of buyers:- In context with hotel “ Take a break” the customers bargaining power
is high because its a new business so it is not necessary that people will visit their hotel.

As their power gets increased hotels need to set certain strategies whether in context with
their prices or any thing else so that guests get attracted to their hotels also. Power of suppliers:- In context with hotel the supplier power is moderate in nature
because there are many suppliers who will be providing such services like implementing
the use of robots so hotel industry can make a deal with any of the supplier they want. Industry rivalry:- In the market place there are many competitors who are starting their
business in context with hotel industry. So through this competition will automatically
get increased. As “ Take a break” hotel was innovating the robotics so as it is a very
unique thing so other competitors can also apply this concept.
Competitive advantage:-
In context with hotel “ Take a break”, it was a start-up and they innovated the robotics
concept in their front office department. By innovating such product they were receiving better
competitive advantage. As they established the use of robots they were helping their employees
to reduce their stress as everything was been done by the use of robots. They also earned
competitive advantage as the speed of providing all services and it is all because of they don't
need break.
The implementation of robots in hotel will be successful and will attract many customers
because almost all people want perfection in services and if they will be provided with all those
services they will definitely visit the hotel again. As a hotel will be going to start so it is needed
that everything is done in a perfect way and unique things should get implemented in their
organisation. It will be successful in the market because today's generation want innovations so
their innovation was a very efficient one(Petrunenko and et.al, 2020).
Segmentation analysis, market statistics and who will buy the product and why Segmentation:- It is very necessary for a business to segment their market especially
when an individual will be just starting their business and in that implementing new
innovations. Segmentation can be done in many ways like in context with demographic,
psycho graphic, behavioural and geographic. In context with hotel “ Take a break” they
were segmenting the market on the basis of age sector as well as the personality of
people. As the company was opening a hotel and they were initiating robots in their
sector so their main market segment was the youth generation because they are more

interested in visiting those places where unique things will be there(Dabić and et.al,
2020). Targeting:- Even while segmenting the market it is necessary to target particular sector
through which they can earn profits. During the period of targeting it is necessary to
determine the market size and growth also. The concept of positioning is the most
important thing while doing decision-making. As the services which hotel is providing
creates an impact on all customers.
 Positioning:- The main objective of hotel is to position the product in such a way that
customers can get targeted in an easy way. In relation with positioning it should be done
in a way that customers buy their products rather than their competitors. So, in context
with the hotel, they innovated a unique thing of using robots. While doing positioning
there are three things which are involved and these are creating an image, differentiating
then and at last making a promise.
The people who will mostly visit the hotel will be the youth generation because by seeing
that hotel are providing services with the use of robots they will get attracted towards their hotel.
There are many competitors in the market place and there are many start-ups also so it is
necessary to determine that unique things are getting implemented because through that only
people will go and visit their hotel rather than their competitors.
Marketing strategy using 7Ps along with marketing mix analysis
There are 7Ps of marketing mix which includes product, price, place, promotion, people,
process and physical evidence. In context with business it is further been explained as below: Product:- Whether a company is providing product or service they are been considered
as goods only. The company provides all services and products in order to increase
customer satisfaction. To increase satisfaction of customers and meeting their demands
hotel have to provide different and innovative things like better quality, features and so
on(Li and et.al, 2020). The service which hotel “ Take a break” is providing was the use
of robots at front office department. All services will be done with the use of their
services. The customers are expecting that now they will not have to wait as everything
will be done at a very fast phase. Price:- In terms of pricing strategies as it is a start-up so high prices can't be set up.
Before setting all prices proper analysis has to be done. If a hotel is providing different

services then they should set all prices accurately so that large number of customers can
get attracted. In context with hotel “ Take a break” they were innovating a unique service
of using robots rather than people. So, audiences were getting influenced by their services
and the prices which they were offering. Place:- It is the most important thing for a business start-up. The place must be chosen
according to audiences. As its a hotel industry so the location should be such that people
can easily come at that place. It should be located where people spent most of their time.
As “ take a break” hotel was just starting their business so they need to know about their
target customers and at what location they can reach(Panikarova, Vlasov and Velinov,
2020). Promotion:- As a start-up no customer can easily get all kind of information about them.
So it is necessary that promotion is been done so that people get to know about their
business and what kind of innovation they are doing. As in context with hotel the best
promotion strategy for them was the magazines as well as social media sites through
which people get to know about their company. People:- While providing any kind of service people are the most important because the
way in which they will provide service will be considered as the experience from all of
them and according to that only the feedback would be given. As a start-up it is the most
important thing because it will be the first time when guests will visit their hotel. So, as
they established the concept of providing services through robots it is necessary that they
are been properly implemented and guests are not facing any kind of consequences. Process:- It is determined as a concept in which experiences of customers and their
expectations are met. The process which will be followed through that only expectations
of customers will be able to met. As in case of hotel “ Take a break” they were offering
the services by using robots and everything was done through them only. By using this
kind of process they will be able to generate better customer satisfaction(Shadibekova,
2020).
 Physical evidence:- It is also a necessary element for companies to analyse their
workplace. The customers experience will get generated with the help of physical
evidence only. There are certain customer expectations like when they enter the hotel
they want that their rooms should be cleaned properly, effective services will be provided

and so on. So, as a start-up customers expect that they are treated in a effective manner
and all services are done properly.
Market growth strategy Market penetration:- In terms of hotel “ Take a break” it was a business start-up and they
innovated the concept of using robotics. The hotel is using this concept in order to
achieve growth in their sector so they initiated many concepts. The establishment of
using robotics in front office department will led to reach large number of customers
which will be effective and profitable situation for them(Rok and Kulik, 2020). Product development:- To develop an innovative concept the hotel will be able to do
expansion because as a start-up and complete different innovation of using robotics their
business will get developed because it was a unique innovation which will be efficient in
attracting many customers. Their main target audience were those people who like
innovations and love to visit such places. Market development:- As a business start-up the main focus of hotel must be on
development of market so that they can achieve and reach at the top most position. The
market can be developed by using different and unique things. To develop such business
it will be successful strategy for them. So, the hotel “ Take a break” also they need to
develop their market
 Diversification:- In terms of achieving growth it is the most important as well as risky
strategy also. So, to deal with such concept “ take a break” has to innovate new things,
new products so that more customers visit their hotel(Igwe and et.al, 2020).
Resources required for the venture including the source of finance
The business will need many resources so as in context with “ Take a break” hotel it is
been explained as below:-
Resources required:- Physical resources:- These resources involve storage facility, factory, buildings and so
on. So, in context with “ Take a break” hotel they also needed different physical
resources in order to establish their business. As in terms of raw materials the innovation
which they will be doing is the use of robots so they will use all materials for that. Human resources:- In these type of resources it includes marketing experts which is very
important for a business-start-up. As the hotel was getting established so marketing need

to be done as without it no individual would get to know about that. So, employees will
be needed who can do the marketing really well. Financial resources:- There are many financial resources which are needed for
establishing any kind of business whether it is been started with the help of cash or credit.
Sources of finance:-
There are different sources of finance like business loans, venture capital, angel investors
and so on. In context with hotel “ Take a break” their main source of finance was angel investors.
As they were getting the help of financial help from other individuals who helped them in
starting their new businesses.
Risk analysis
There are different type of models in analysing all type of risks. In context with hotel “
Take a break” it is been explained as below:- Risk management:- It is defined as the concept of determining all type of risks and
controlling all threats in context with capital and earnings. In context with hotel, there are
many type of risks like operational risks as well as expanding their hotel(Bohwasi,
2020). Risk identification:- It refers to the procedure of identifying all risks which will prevent
an organisation to achieve their objectives. In accordance with hotel, risks can be
identified with the help of different assessments as well as internal audits too. Qualitative and Quantitative analysis:- In terms of quantitative risk analysis it is a
numerical way as in terms of cost as well as schedule objectives. In context with
qualitative risk analysis it is defined as the procedure of determining all risks and its
impact. In context with hotel industry the more risk will be in the form of qualitative
analysis as they will be providing many kind of services. Risk response planning:- In context with hotel “ Take a break” the risks which can
create an impact on them so with response to that they should update their technology
and each guest should be provided the most efficient services.
 Risk monitoring and control:- As all risks which are been identified they need to be
controlled in such a manner that their business start-up should not get affected.

CONCLUSION
From the above report it is been concluded that while setting up new businesses in the
market certain type of strategies has to be set up in order to attract large number of customers.
There are many risks associated with any business to deal with that they must get identified in
timely manner. There are many competitors in the market so in accordance with that proper
innovation should be done.

REFERENCES
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