Advanced Innovative Business Practice Report: SoluBags Analysis

This report presents a business plan for importing SoluBags, dissolvable plastic-free bags, into Australia. It analyzes the product's attributes, environmental and social impacts, and recommends a business strategy for its launch. The report delves into financial aspects, including the break-even point and return on investment, while also assessing the external and internal environments. It examines the competitive landscape, including major players like Coles and Woolworths, and applies Porter's Five Forces and SWOT analysis to evaluate the business's prospects, suggesting a phased market entry targeting IGA stores before expanding. The report emphasizes the potential to reduce plastic pollution and offers insights into sustainable business practices. Key aspects include marketing, financial projections, and the shareholder charter, providing a comprehensive overview of the SoluBags venture.

Executive Summary and Conclusion 1
Executive Summary and Conclusion
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Executive Summary and Conclusion 2
Executive Summary
Advanced innovative business practices play a vital role in utilizing models and
frameworks that are crucial for understanding the opportunities and challenges that face firms in
the modern day (Edwards and Porter-O'Grady 2017). In this context the report aims at analyzing
and evaluating problems affecting businesses in order to be able to offer practical, innovative and
creative solutions. The primary objective of this report is to research innovative techniques to
solve business problems. It also seeks to demonstrate analytical, critical, sustainable and creative
thinking skills. Also, its aims to enhance effective business communication and collaborative
measures to evaluate performance (Evans et al 2017).
As a result, the paper discusses a business plan whose objective is to import Solubag
plastic free bag into Australia. In doing so, the report will elaborate various attributes of the
products as well as social impact. Furthermore, it will recommend the business strategy that will
be used in launching the product in Australia. To realize the objectives of this report, specific
focus on financial aspects will be undertaken in terms of how they contribute realizing the break-
even point. In addition, the external and internal environment will play an important role in
demonstrating how these factors affect the business and how they can be manipulated for the
interest of the business.
Conclusion
This report has determined that there are serious implication of plastic debris in the
environment. In this regard, plastic material have the potential to cause water pollution among
other health hazards related to stunted growth and cancer. The business plan indicates that the
product will solve the problem of environmental footprint as a result of replacing non-

Executive Summary and Conclusion 3
biodegradable dissolvable plastic free bags in Australian market. The product is developed to
mimic the normal plastic bags that are offered at the supermarkets although it is developed to
have unique features (Saebi and Foss 2015). With respect to market positioning, Solubag is
positioned itself as an ecological friendly solution that will eliminate single use plastic bags.
Major notable competition for this new product include Coles and Woolworth because
they have implemented reusable bags and recycled bags. From the analysis of porters’ five
forces, the threat level of the business is said to be low. Buyer to power influence was considered
to be high in case the product takes off while it is characterized by low supplier power and high
threats of substitutes (Yang, Evans, Vladimirova and Rana 2017). Lastly, the SWOT analysis of
the business plan suggests that there are significant opportunities in relation to starting small and
growing slowly by targeting IGA stores before expanding to Coles and Woolworths to command
a larger market share.

Executive Summary and Conclusion 4
Reference List
Edwards, M.L. and Porter-O'Grady, T., 2017. Guest Editorial Advanced Practice Leadership and
Innovation. Nursing administration quarterly, 41(1), pp.2-3.
Evans, S., Vladimirova, D., Holgado, M., Van Fossen, K., Yang, M., Silva, E.A. and Barlow,
C.Y., 2017. Business model innovation for sustainability: Towards a unified perspective for
creation of sustainable business models. Business Strategy and the Environment, 26(5), pp.597-
608.
Saebi, T. and Foss, N.J., 2015. Business models for open innovation: Matching heterogeneous
open innovation strategies with business model dimensions. European Management
Journal, 33(3), pp.201-213.
Yang, M., Evans, S., Vladimirova, D. and Rana, P., 2017. Value uncaptured perspective for
sustainable business model innovation. Journal of Cleaner Production, 140, pp.1794-1804.