Final Business Proposal: Smart Light Switches - BIT108 Business Plan

This report presents a comprehensive business plan for smart light switches, focusing on international market expansion. It meticulously addresses factors crucial for international business, including shipping logistics, Australian GST laws, and the impact of international regulations. The plan outlines international marketing strategies, emphasizing social media campaigns, budget allocation, and customer reach. It also details financial commitments, including legal and financial considerations, and presents an executive summary, introduction, and discussion of the IoT product's features. The report further explores ownership structure, fund-raising processes, and the steps involved in obtaining an Australian Business Number (ABN). Additionally, it discusses the role of a freight forwarder and provides insights into government assistance for international manufacturing. The plan concludes with an analysis of the Australian market and a discussion of key factors influencing the business's success. The report demonstrates a strong understanding of business principles and provides a solid foundation for the proposed venture.

Running head: BUSINESS PLAN
BUSINESS PLAN
Name of the Student
Name of the University
Author note

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1. Factors relating to international Business
Shipping to Overseas
Shipping the product like smart light switches involves few of the shipping procedures
discussed under,
Working with brokers of customs
The people who are not so acquainted with the shipping process customs broker will be
there to help with market knowledge and the person also plays major role in avoiding
high charges due to incorrect documentation and other faults (Hesse 2016).
Thorough with business and numbers
It is important to get thorough about the business profile, strategies of competitors, own
customers and also about customers of customers’. Knowing about own products and
services and dynamics of supply chain are equally important (Cao et al. 2015). Besides
these, numbers regarding costs that includes, excise duties, market regulations on goods
and services for exporting internationally, value added taxes and most importantly
shipping costs.
Consider taxes and duties
For avoiding any late penalties on products that would reach its destination the business
has to look for favourable location from where goods are coming and their eligibility to
local tax and duties.

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Regulations on import and export duties
Any goods and services coming in the country, importing and exporting internationally
there are various governmental restrictions and there could be heavy penalties for
violating these laws and regulations (Hesse 2016).
Budgeting and planning
To all the costs that are involved in shipping products to overseas there is a set budget
plan which includes the shipping charges, percentages of margins (Easterby-Smith,
Thorpe and Jackson 2015). Other charges include terminal and port charges, insurance of
goods and services, customs broker, costs of packaging and customer delivery from port.
The estimates of shipping prices are, original cost per product is $10, custom duties $0.00, credit
card fees $2.50, profit margins 50% and total price is $30.75.
Australian GST Laws affecting overseas prices
Products having customs value of around A$1,000 which can be purchased from the
overseas will include GST or goods and services tax. Regarding Australian GST Laws, it will be
applied both the way same for buying and selling goods from any of the Australian businesses
(Easterby-Smith, Thorpe and Jackson 2015). At the time of purchasing goods which are of
relatively low price and bought online, GST can be,
 Contained in the price that is advertised.
 Contained in the checkouts
 Contained in receipts and confirmed orders.
Products purchased from the overseas, costs of shipping includes in the prices of the goods
delivered and on that goods and services are calculated. ACCC or the Australian Competition
and Consumer Commission governs the consumer law of Australia (Cao et al. 2015).

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Role of Freight Forwarder in Business
The role and purpose of the freight forwarder towards an organization involves, giving
suggestions to exporters and performs active operations for freight shipping. It plays an
important role in the documentation and paper works in the freight shipping regarding
international business. It has a purposeful role to play in keeping the shipper notified about the
shipping activities and most importantly sending the document for collections (McKeever 2016).
For particularly in this business freight forwarder can be helpful for giving concrete explanations
of operations going on the port. Giving useful advices about roles and responsibilities regarding
law. For my business of smart light switches, forwarder can help me to choose the most feasible
freight shipping options and will negotiate for the affordable rates of inland shipping of cargos.
Forwarder can help recommending marketing and packaging solutions (Hesse 2016). Helping in
understanding and organizing letters of credit and also helps to pick up right means of
communication and transportation. Helps in safe shipping and transits. The forwarder provides
help in getting certificates on insurance, inspection, invoices for special customs and also
certificates of origin. The freight forwarder is very help to serve the dedicated responsibilities.
2. International Marketing Strategies
 Knowing the marketing plan- The marketing plan forms the backbone for the
product of the organization. It makes sense to reach the broad categories and branches to
promote the product as awareness is the greatest thing that makes the selling of the
product absolutely effortless. This would be the marketing plan for the further product
promotions and selling of the Iot technology.
 Marketing Objectives and parameters- The major objectives of the marketing
strategies is to sell out this technology through selling of this product. The objective is

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quite specific and vivid (Hesse 2016). The sales should be high in order to generate high
revenue figures. There is a requirement of specific metrics and set of different parameters
to develop the strategies of marketing. The parameters involve, what is to achieve or the
main objective and what will be the duration of the dedicated marketing campaigns
(McKeever 2016).
 Use of Social Media- The use of Google and Facebook notably is the most important
thing in the marketing strategies (McKeever 2016). Campaigning for both these big
social media search engines is about approaching the strong marketing plan, writing
lucrative marketing content to get maximum reviews and responses.
 Marketing budget- One of the ready to go marketing strategies is working on
marketing budget allocation for all marketing tasks within and outside of the
organization.
 Reaching customers- Channels like direct marketing and digital marketing for
reaching to customers individually for good cliental base and brand awareness.
 Execution- The strategy to go out to the market to execute the planned strategies and
approach to customers in order to meet the marketing timelines. Execution refers ti both
online and offline marketing activities.
 Measuring results- This is a post marketing campaign and strategy to measure the
outcomes of the implemented strategies (McKeever 2016). The quantity of sales and the
stocks are analyzed and the metrics are being manipulated to study the outcomes,
statistics and figures of development and identifying those areas that are yet to be
improved.

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3. Financial Commitments
 The documents to be kept include the papers of the business plan, area to operate and
product description.
 I would hire legal advisors and CA to handle all the lawsuits regarding my business plan.

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Business Proposal
Executive Summary
The report contains the business proposal and the related factors that are necessary to plan the
business proposal. In this regard it has discussed all that is needed about the company profile,
regarding the training aspects and TQM, about the product and related aspects to settle down
successfully in the international market.

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Introduction
This report is a brief on Iot technology and its business proposal has been brought into
context. The structure of ownership is briefly explained here in the report with the description of
the choices. The method that will be included in the activity of raising the fund for starting with
this business is clearly defined in this report. The aim of attaining the ABN is precisely described
in the report and with the guidelines used in achieving the ABN is discussed in the report. The
governing body which will be approached for getting assistance in increasing the production
abroad and manufacturing of the products having organised among the economical states in the
market of Australia has been precisely discussed in the report. This would indeed be one of the
best organizational structures for the company as they would be capable to make work all the
workers under the proper kinds of departmental heads. This would make sure that every worker
is getting the adequate amount of support from the dedicated person whenever the need arises.
This has become quite necessary for the managers to get the quality of expertise service of every
worker at the time of allocating them to specific job posts. IoT or Internet of Things is one of the
most updated technology and requires all the different types of expertise in domains like,
handling computer systems, storing database, issues regarding security reasons and many others.
On comparison of the execution of any business as the sole proprietor, the work of partnership in
business can be highly advantageous through the correlative supports and the business
excellence. It will extend support in improving and developing the ongoing business and to share
every task in equal and execution of those tasks in relatively shorter span of time. Hence, the
business has to be sure about the functional structure that they are using for this organization in
respect to make sure that the workers are receiving promotions for the individual domains of

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their knowledge respectively. This would ensures the steadfastness of growth for every employee
and would also support in to check the rates of employee attritions in organization.
Discussion
The product of smart light switches has the IoT technology enabled in it which is
required to control any devices which is linked to any switch with the support of voice sensors or
any application of smartphone. This device can be effectively used to control the lights, needs to
control the fireplaces, for the lights in bathroom, ceiling fans, and it can be also used to control
the disposal of garbage. The smart switch can be operated with the support of the Wireless
Fidility or WiFi connectivity that is integrated for smart switches which are connected in smart
homes. The product smart light switch can be indulged to select for the smart dimmer switches to
increase the extended control of the lighting systems in bedrooms, modular kitchens, dining
rooms and in the living rooms.
Ownership Structure
The business partnership permits the agreement for the development of partnership in
written or verbal form. There is no need for the business partnership to register with the bigger
bodies for taxation. As comparing to the execution of any business as a sole proprietor, the
dealing in the partnership business can be extremely beneficial from the mutual consent and the
comradeship. It will help in improving and developing the business and sharing all the tasks
equally and execute the tasks in shorter period of time. As the partnership will be helpful to share
different tasks of the business, it will be supportive in executing the works with increased
amount of specialisations that will help in gaining business with corrections and efficiencies. The
business partnership helps in gearing up the business with increasing privacy reasons and
authenticity. When comparing to the company that is limited, the business affairs of partnership

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firm can be kept entirely confidential by the business partners. In such limited companies,
particular documents will always be available for inspections of the public at the shareholders of
the company. The shareholders acquire the powers of choosing the particular aspects for
inspecting the varied registrations and many miscellaneous documents which is needed to be
with the company in its premises.
Process of fund raising
Both the business partners are possessing their respective houses, which can be used to
secure the loans and start venturing business. The business has just started to setup, the small
business funding in terms of loan that can be the most exact solutions for supporting the growing
business and then it can be included for hiring finance team, and the space available for office or
any sort of equipment. The partners can use their respective personal asset for getting the
approvals for the loan especially while mobilising business from their respective homes. The
scheme of loan has been specifically selected as it offers numerous advantages those are not
offered in other loans. Few of very common benefit of collateral loans have relatively lower rates
of interests, improvised payment terms, as well as profitable leverages for all kinds of
negotiations.
ABN
Below are some of the guidelines which are needed to be characterised for gaining the ABN and
that includes:
 Use of the ABN with free applying facility via the online application
 Answering the series of questions to ensure the capability of the activities for the
ABN and then achieving it
 The personal information in detail needs to addressed and given

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 Receiving the ABN within almost 28 days as mentioned on the personal detail
information section and on the dedicated postal address of the residence.
Economic state of Australian market
The product will be sold to the factories of Australia who after purchasing will take the
charge to amalgamate their upgraded technologies with the electronic product and then they
would provide the final product as an outcome to their customer base. The market is at growing
levels rapidly with the effective implementations of newer technology on the daily basis in the
recently, the industry offer the customers with the developed products that will help improving
the lives of people. As this can be observed within the Australian government statistics on the
Australian economy, there are frequent opportunities of development in the industry production
and it can support the product to be popular in effortlessly less time.
Factors considered
This product is subjected to be shipped to the customers of overseas with the help of
freight transports and cargo shipping and there will be identified additions in the prices of the
every switch, and including the cost of shipping. The estimation of cost of shipping will be
almost 15 percent of the whole revenue amount generated and it may enhance if there is any kind
of damage happened to the product at the time of shipping. The Australian GST laws will affect
the price strategies of the products from overseas as there is an implementation of GST on the
product shipping and that will be added to the prices of the material and thus, the price has been
increased.
Leadership
As per my understanding, I will be following the transformational leadership style. As per the
opinion of, transformational leadership style is the best-known style for being used in the modern

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market scenario. This leadership style ensures that the employees are getting a chance of
delivering their feedbacks and their ideas about the business decisions that are being undertaken
in the organization. IoT is a modern concept that is gradually moving towards development. In
many parts of the world, this concept is still in its stage of infancy and thus proper methods have
to be used in order to take their business ideas to their customers. The company has to keep an
open and flexible approach that will help the employees to share their ideas as and when they
feel like. Company management must abide by the horizontal communication style that will
enable the employees to reach out to them whenever necessary. Autocratic leadership will be
avoided as this is based only on the decisions of the boss. This is an age-old leadership system
that is very rigid in nature. It does not take into account the opinion of the employees and
forcefully imposes the decisions on the employees. Autocratic work environment does normally
have little or no flexibility. Leaders do not communicate any decision with their employees or
accept any kinds of feedback from them.
Code of Ethics
To uphold and advance the honor, dignity, and effectiveness of the profession
 To maintain integrity and be honest about the dignity of all employees
 To put forth continuous effects in respect to increase the probity of Information
Technology
 To make sure that every stakeholder regardless of their individual hierarchy or dignity in
the organization are providing help to each other
 To make sure that no employee is harassed or discriminated by other employee of this
organization on the basis of the grounds on their status of social or cultural diversities.
Competence