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Managing & Developing Innovation

University: University of Roehampton

  • Unit No: 15
  • Level: High school
  • Pages: 4 / Words 1109
  • Paper Type: Assignment
  • Course Code: N/A
  • Downloads: 76
Question :

This sample will let you know about:

  • What is Managing & Developing Innovation?
  • Discuss About Target market.
  • Exlain growth and sustainability of the product?
Answer :
Organization Selected : Air Cargo industry

INTRODUCTION

As a potential investor for Air Cargo industry I am evaluating proposal which is based on information about project. As an investor, I am interested but required more details for this business plan and also provide further justification.

Investor is interested in the proposal but required more information about this. Along with this, there are some terms and conditions from investors side to make investment in this innovative way of reducing weight of cargo.

Is innovation based on sound engineering, technology, science and management realistic?

Overall business idea of reducing weight of cargo during transportations is good and it is unique technology which you going to introduce. Helium container is the solution as per the proposal but it is feasible in practical life. As an investor, we wanted to know that how much weight can minimise by the use of helium gas. Also explain that, if use of helium gas has almost minor changes in the weight than it is not beneficial because it occurring more cost to develop or provide training to employees about new technology. Technically it is possible because properties of helium gas give upward force and in result it helps in reducing weight of container. Justify more that how actual results this technology able to generate.

It is a practical concept?

It is look like that innovation is possible but need to clear more aspects such as lack of marketing network how they can make people aware because it is your weakness which can affect entire execution of plan or can increase the chances of failure. Increase in the price of helium gas increase cost which automatically equal the effect. Air Cargo need to find its substitute before this factor impact the operations. Justify that how it practically possible because in the business plan is looking very good and it is very unique concept but how it is possible that other competitors not think about it.

Target market?

India is the target market as per the proposal but why only focused on India because there are lot of other countries in the Asia Pacific region. Selected country has huge population but large number of group choose to travel by road or railway. Want to more about that how this plan attracts people. There are very less proportion who travel by air, so it is possible that Air Cargo unable to recover their cost or capture the market.

Consumers have enough purchasing power or any cultural social and political issues?

This technology need to be cost effective because everyone know that customers can spend where they find products & services cost effective. For the success of this technology, business need to spend on promotions, marketing strategy, there distribution channels, need to skilled their employees for the functioning of drone and developing helium container. Organization need to find substitute of helium gas.Want to get Assignment Example ? talk to our Experts !

Are investors are satisfied with various financial projection and exit plan?

As per the proposal, company use two methods to deliver their goods, first one is directly deliver to the consumers and in the another one, set the mediator such as local agency between distributor to consumers. Funds will be allocated from government grands where they able to get $100,000 for 24 months. According to financial projection, available data is quite good because in 2021, company can sell around 460 units or generate $920,000 sales revenue. Financial data is very impressive which clearly indicate that after 1.5-year or selling more than 600 units’ company able to generate profit.

Are you satisfied with growth and sustainability of the product?

Growth and sustainability all are depend on the financial result and sales forecasting but it is also very important to execute that plan as per the proposal which is most important. Delivery of goods by using drown is very effective marketing strategy but for this they required huge investment and it will possible after the successful implementation of this project. But, according to Air Cargo proposal, it is look like this project successfully implemented and further provide huge market growth business in other Asia pacific region & North America sector.

Is the current team members able to achieve business objectives and targets?

Current team members are chemical engineer, mechanical engineer, project executor and advisor regarding business laws. It is not enough to achieve business goals & objectives because, new innovation required more focus so company need to spend on its marketing in order to make people aware about it. They need to hire some expert people in the field of marketing who can build different strategies to attract their target group. Want to know about that which marketing strategy used by company or which platform such as online or off-line. Also provide details about short term partnership and what strategy after that. Proposal need to increase more people in this team which helps them to target their customers or achieve their business goals & objectives.Worried for Assignment Help ? Get our experts Help Now!

You need to evaluate the presentation on a scale of 0 to 10

Proposal presentation is very good and it includes all required information but it should be in more details. On the basis of presentation, it will be evaluated around 6 out of 10. There are some aspects where company lack, so they need to focus more or modify their proposal accordingly. It is possible to invest in this plan after fulfilling required elements, so do changes accordingly because it is quite interesting project but required more information.

Terms & Conditions:

  • Demonstrate the technology that how helium gas reduce the weight of container.
  • Want 20% profit share if we invest in this project.
  • Company unable to sell this technology to another investors.

CONCLUSION

From the above discussion it has been analysed that before developing or implementing any innovation, organization need to produce business plan or proposals. In includes the each and every detail about new idea. Such as new idea, marketing strategy, sales forecasting, growth & sustainability etc.

 Read More - Identifying Entrepreneurial Analysis

 

 

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