Venture Challenge
Introduction
To understand the venture challenge and the feasibility of such an ideas, we will be going through a list of things that will help identify the how the idea can be executed in reality, its practicality, and the nature of business and investment it would require.
The Idea 商科创业论文代写
A drone that flies up to 20 miles an hour, and can be easily charged with electricity. It can be charged using 115 VAC , 20 AMP outlets, and consists of a compartment that can hold up to four 16 inch pizzas, along with two orders of chicken wings, plus napkins, spices, and ranch dressing that goes with the wings. The compartment is designed to keep the food warm and the rest of the items at normal temperature.
This is an attractive opportunity because it increases the mobility of the items, and the food can be delivered within minutes. The costs associated with hiring riders and transportation, such as fuel cost, time required to deliver the order, delays in delivery due to traffic, etc. can be minimized, and this will give us an edge over the competition. This is a unique opportunity that will enable us to reach the audience on time. The primary investment required would be for the drones, and the premises for the kitchen, along with kitchen staff.
Competencies and Skills of Team Members 商科创业论文代写
Engineer
One of our team members is an engineer, who will be responsible for managing the optimal functioning of drones. In case they require maintenance, then he/ she will be responsible for managing all day to day functioning tasks of the drones, and ensuring they are working properly.
This person will also be responsible for managing all the deliveries, and guiding the drones to the correct location.
Chef & Kitchen Staff 商科创业论文代写
The chef is an integral part of the team, as he will be the one responsible for making the main product, which is the food that will then be delivered to the customers. The kitchen staff would consider of help for the chef, along with a sue chef to help them out. For now, three people will constitute the kitchen staff.
Marketing & Finance
One person will be responsible for all marketing activities along with managing the financial matters to ensure that the venture performs as per desired results. Any in store activities, branding, budgeting, managing and arranging finances will be their responsibility.
Stakeholders
All of the people who will be making an investment in this venture will be the stakeholders, one of them would be given the position of CEO, and will be responsible for all important decisions, along with the managing partners.
Passion and Commitment for Opportunity 商科创业论文代写
In today’s digital era, utilizing all digital mediums and technology give an edge over the competition. As there is no one else in the market who is currently employing this idea, it will give us the first mover advantage while at the same time by getting a patent for the idea, we can also ensure that this idea cannot be copied by competitors. This will give us greater advantage over the competition, and also allow us to cater to a wider target audience, since the drone can fly at the speed of 20 miles an hour, that would enable us to cover greater distances, and tap audience that is further apart with ease.
This is why we feel that this is a good opportunity for us, since our team consists of individuals who can handle the task at hand, and is capable of making this venture successful.
Categorization of Opportunity 商科创业论文代写
The type of idea we have selected, makes use of a combination of multiple opportunities. The primary opportunity this venture would provide us is the application of an already existing technology to new use. Since drones have been used for multiple purposes over the past couple of years, this idea allows us to use them in a different manner from before. Additionally, the same opportunity allows us to create mass markets in the sense that it can cover great distances in a short amount of time, thereby, allowing us to tap a larger target audience, thereby, increasing the reach of our products and services.
Customer Development Process
In order to develop the customer along with the products and services we offer, we will first have to begin with the process, as defined under figure 2.3.
Customer Development 商科创业论文代写
The process begins with identification of the needs and requirements of customers that are not being fulfilled. This gap will allow us to access the opportunity that others have not tapped into so far. The biggest need of the customer that is not being fulfilled is getting the food delivered quickly, and without delay. This need can be addressed through this venture.
Customer Validation
As mentioned previously, this venture will allow us to cover greater distances, thereby, accessing customers further apart, and thereby increasing our reach. This will allow us to gain access to customers who live further away, and it will also enable us to cover larger areas, thereby, targeting the masses.
Customer Creation 商科创业论文代写
In order to create demand of the customer, we first need to make them aware of this venture and the products and services being offered. For his purpose, various digital mediums can be used to generate talk-ability and create awareness of the brand. The greater the audience, the easier it becomes to penetrate the market, since, it will generate interest in the way we deliver food, and more people would be interested to at least try it out. Repurchase depends on the quality of food being offered, and whether or not it provides value for money. If these two requirements are met, then the customers are likely to increase orders and even create positive word of mouth that further benefits the brand/ business venture.
Company Building 商科创业论文代写
In order to build a proper company, we will first have to create a value chain, that looks after all of the operational matters of the business, such as vendors for the venture, along with distribution partners, which can include ingredient providers, to high end part manufacturers to meet the requirements for building and managing the drones. Marketing will have to be carried out in two stages, the first would include the sales stage which primarily requires getting suppliers on board, and ensuring that they are able to meet the requirements of the restaurant/ venture.
The second would be direct selling to the customers, this means getting in touch with them over them, creating a positive experience for them, and ensuring that they are delighted by the services they receive. Then comes the actual advertising which will primarily be done through digital media platforms such as Facebook, & Instagram, and then eventually, the venture can have their own website developed, which will enable the customers to order directly. In the long run, development of an app for the venture would also be highly beneficial, as more and more people prefer to sue apps, due to their user friendly interface and time saving nature.
Evaluation of Opportunity 商科创业论文代写
In order to evaluate the opportunity we will be first looking at the principles laid out in Table 2.7.
In my opinion, the opportunity requires huge investment since we will be building the drones, and will also be requiring premises for setting up the kitchen. That would require huge investments, including the rent and other costs associated with the setting up of kitchen. Then comes the costs associated with acquiring ingredients, along with any maintenance costs for the drones. Based on all of these the costs will be high.
However 商科创业论文代写
We also expect that the demand for the food will be high, and it will eventually yield breakeven in three years, and the fourth year would be able to generate profit for us. The requirement for easy access to superior quality food in competitive prices is expected to increase in the future, as trends show that people will be busier in their lives with demanding jobs, and less time to actually cook for themselves. This will help the business, as our venture offers a unique manner in which good quality food can be delivered in a matter of minutes. Based on these assumptions, we propose that the customer buying pattern will be skewed towards ordering food from any outlet, instead of actually buying the ingredients and cooking for themselves.
Moving on to evaluating the opportunity based on Table 2.8, which consists of five basic factors based on which we will determine the feasibility of the venture, the first factor that should be considered is:
Capabilities 商科创业论文代写
\The team members do have the capabilities required to not only meet the needs of the business venture but also make it a success. Additionally, we will also be hiring two new members, who will constitute the kitchen staff as mentioned above. This will enable the team to ensure that all requirements of the venture are met and handled with care.
Novelty
Yes, in my opinion the idea does offer a unique differentiating factor, since this is something that is not being done by anybody else. One of the biggest point of difference for this business is that the food can be delivered in a matter of minutes, at greater distances, hence giving us advantage over competitors in the same industry.
Resources 商科创业论文代写
As the venture will be starting out small, therefore, the human resource required would be as defined above. With regards to the financial requirements, we will first begin with two drones, and as loan can be taken out for the rent required for the premises, and investment in ingredients then we will be able to arrange the finances easily.
Return on Investment
We feel that the products can be priced at competitive rates, thereby, allowing us to not only meet the need of the customers, but also provide them the products on time. Additionally, the venture is expected to generate a return on investment large enough to result in profit in the fourth year.
Commitment
As the idea is unique and we can easily coordinate with the team members, as well as start out small, the team members can be committed to the idea, and work hard towards the attainment of the goal.
Vision Statement
The business venture’s vision is to become one of the leading fast food delivery restaurants by providing superior quality products in short time.
Value Proposition
To provide superior quality food products at highly competitive pricing, to the customer’s desired location, before time (i.e. delivery time), to create a delightful customer experience.
Business Model 商科创业论文代写
Customer
Our customer is anyone who is looking for a convenient lunch/ dinner option, with a variety of products that can be delivered to their home in a very short time.
The target audience consists of men and women aged 15- 35 years old, who are looking for convenient shopping options for food that can be delivered at their doorstep in a matter of minutes. Someone who is not willing to wait 30-45 minutes for delivery, and who dislikes having to wait in queues for their food.
Value Proposition
The biggest benefit for the customer is that the product offers value for money, and it can be easily delivered to any location as specified by the customer, faster than the competition.
Differentiation and Control 商科创业论文代写
Seamless integration of digital into traditional business model. The drone allows us to deliver at high speed, while ensuring that the product remains fresh and at its normal temperature.
Scope of Product and Activities
Fast Food products that can be easily delivered using the drone, such as Pizzas, wings, burgers etc. Manufacturing of the products can also be outsourced to third parties, such as, apart from the food that we ourselves make and deliver, we can offer other restaurant the delivery services as well, and charge them a premium for it.
Organizational Design 商科创业论文代写
The organization will have a lean structure and an open door policy, which encourages new ideas and solutions that can be implemented in future for the development of new products and services.
Value Capture for Product
Timely delivery every time, and the premium charged from the competitor restaurants can enable us to protect the profitability of the firm.
Value for Talent
Opportunity to work in an innovative company that encourages new idea generation and helps evolve each employee into a better version of themselves.
SWOT Analysis 商科创业论文代写
| Internal | External |
| Strengths
1. Proper use of technology 2. Delivers fresh food on time 3. Can easily cover long distances 4. First mover advantage 5. Limited competition in delivering through this medium |
Opportunities
1. No other competitor is offering such services. 2. The untapped need of receiving ordered food within minutes can be addressed. 3. Quick service delivery can be redefined.
|
| Weaknesses
1. One drone can only hold limited quantity of food, thereby, can’t deliver more food. 2. Starting with two drones may limit the quantity of items that can be delivered at a time. |
Threats
1. If the idea is not patented, then there is a threat of it being copied by others. 2. The process cost may become higher than anticipated. |
Strategic Approach 商科创业论文代写
The strategy that we will be using, would be the Differentiation approach, which will enable us to targeted greater segments of the target audience and provide products and services with unique features, and help us in creating more innovative solutions.
Partnership Strategy
The partnership strategy that we will be using is Alliance. This alliance will be based on creating long term relationships with the members of the value chain. As defined earlier, the value chain would consist of suppliers/ vendors of products, which will then be delivered to our premises, and the final product will be delivered to the customers.
Business Strategy
Our business strategy is simple. Give customers a delightful experience by delivering uniquely, the food they have ordered, at their doorstep, in just a matter of minutes.
We will deliver to even the remotest of areas, and locations that may be further apart, because we intend to tap into those segments which are not being addressed.
Social Responsibility
Our venture will be socially responsible by giving back to society. Those customers who were previously unable to utilize these services will now be able to use them with ease, as we offer good quality food, at reasonable rates, that can be afforded by everybody.
References 商科创业论文代写
August 14, 2015, Why Are Millennials So Obsessed With Food? retrieved 16-9-17 from, https://www.theatlantic.com/business/archive/2015/08/millennial-foodies/401105/
Byers, Thomas, 4th Edition, Technology Ventures: From Idea to Enterprise, retrieved 16-9-17, from, https://reader.yuzu.com/#/books/0077595998/first
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