Business Plan to Pitch to Investors
Business plan to Pitch to Investors
Service station gloves are essential in ensuring that motorists are protected from the bacteria. Yeast, animal bacteria and vegetable bacteria, which are found on these gases pump handles. The introduction of clear gloves that are easily disposable and available in gas stations will make sure that customers are not harmed by bacteria as the gloves will be disposable. The external environment surrounding this business venture is both supportive and challenging. With increased sensitization of customers through advertisements, brochures, placards, and billboards placed near service stations, the customers will tend to gravitate towards adopting the disposable gloves. The gloves will be sold at an affordable cost to encourage increased volumes of sales that will help the company to break even at a faster rate (Artto, Ahola, Kyrö, & Peltokorpi 2017). On the other hand, the use of plastic disposable gloves has a disadvantage because they are highly discouraged by environmental lobbyists. The most fusible way to ensure that the idea picks up will be by providing cans that allow for proper disposal of plastics, which will be taken to companies for recycling.
Impact of Demographics and Generational Change on the Business
For the business venture to succeed, a strategy that ensures disposable gloves are distributed in service stations that are located in urban areas will be adopted. Service stations that are along highways will be targeted in the second face of production of the plastic disposable gloves. Primarily, research has shown that users of urban service stations where there is a significant traffic of vehicles and many residents, there is a tendency for service station users to be more cautious about the presence of bacteria, germs and yeast in the service station pump handles (Vicki, Millar, & Peters, 2015). Demographics will have a bearing on the strategy of advertisement that is employed and the area in which the gloves are distributed in the first face. The generation that is targeted is that between 30 years and 60 years since they tend to be highly literate and cautious about their health. As such, disposable service station gloves will be initially distributed in service stations frequented by individuals who lie in this generational gap.
Impact of Technology and Globalization
There has been a notable technological advancement in the past decade that has shaped the administration procedures of businesses, the methods of distribution and the strategies adopted by companies in advertising their products. Globalization has also brought about positive effects and adverse effects in the market. While globalization has increased the size of the market within which a business can sell their product, it has also opened up the domestic markets to competition and counterfeits by competitors who do not respect the international rules of trade (Wetherly & Otter, 2014). Technological ways of product distribution such as e-commerce will be adopted in networking with clients of this new product. By establishing a website and putting up social media platforms which will target service stations aimed at metropolitan areas, the business venture will hope to attract willing investors and copartners to make sure that this product is advertised at a low cost to reduce the cost of advertising and eventually increase the profit margins. The long-term objective is to reach international markets after the success of the business in the local market.
Impact of Changing Trends Relevant to the Product
The trend in service stations has been to put up malls and small eateries near service stations to attract more passersby to fuel in those stations. Due to the falling prices of cars, more consumers can afford cars leading to a situation where gasoline, petrol, and diesel are in high demand. These trends are profitable for the business venture since advertising can be targeted at sensitizing the consumers that the plastic gloves will be helpful in protecting them from harmful bacteria that could be as a result of people touching service station pump handles with unwashed hands after consuming their meals. Increased service stations as a consequence of the growing number of motor vehicles in the highways ensure that there is a large domestic market that can be targeted in introducing the product (Wetherly & Otter, 2014). Furthermore, the idea of the use of plastic gloves in service stations is a relatively new idea with a large potential of being accepted in the marketplace especially in a situation where individuals are increasingly sensitive to their health.
Impact of Politics and the Changing Trends in the Political Landscape
The political environment in any given country is a determinant of the success of new business ventures that launch new products. In a political climate that is protective of domestic industries by charging lower taxes than international companies charge and by regulating external competition. As such, it is possible for new products to thrive in the market and attract considerable profits (Davenport, 2013). The political environment ensures that new ventures are provided with an enabling environment which enables them to penetrate the market. As such that will guarantee that the product is a success in a short time if the company can attract a sufficient number of clients to buy its product within the next two years. As a matter of fact, the country is currently adopting policies that are aimed at subsidizing operational costs of business startups. Though the government has restrictions on the kind of companies that an individual can engage, it is rather open and supportive of business ventures that aspire to produce consumer products. The political landscape is relatively favorable since the existing government has sound fiscal and monetary policies that curtail inflation and regulate interest rates.
Impact of the Economy and Competition on the Business
The economic conditions in the country are stable since the economy has recorded a consistent gradual growth in the past decade. Economic growth has been recorded at an average rate of two percent annually since 2000 signaling an increase in the gross domestic product of the country. Due to increased levels of the disposable income that is available for spending, more business ventures have sprouted with the aim of producing consumer products that will fill the available niches (Carroll & Buchholtz, 2014). As a result, there has been increased competition from companies in the country leading to closures of existing businesses, which recorded consistent losses and a decline in profits due to increased competition. To ensure survival, companies have diversified and adopted innovation as a way of ensuring that their products remain relevant in the market.
Ethical Issues That May Arise in Business Planning
Integrity and trust are the most fundamental matters that are faced by any business. It is common place for businesses which are not bent on implementing business ethics to treat one customer unfairly and the other one favorably due to their economic status. A true relationship between the firm and the customers is considered as a key determinant of the success of the company in launching its new product (Ferrell & Ferrell, 2012). Other ethical issues that could arise in business planning include the issue of diversity, which must be regarded by any business that operates in a business environment with individuals with diverse nationalities and ethnicities. Decision-making issues will also elicit ethical issues as ethical dilemmas seek to be solved, and the company decides to adopt an ethical course of action. Finally, the business expects to encounter challenges in compliance and governance issues which require the company to comply with monetary and fiscal reporting statues, environmental laws, civil right laws and state regulations.
Measures to Ensure that the Business Adheres to the Ethical Principles
The company will at all times aspire to hire staff from all ethnicities and nationalities that is present within the geographical location in which the business is located.
In instances where the business has to make decisions that area shrouded in ethical dilemmas, a consultant could be hired to advice on the best course of action.
All clients regardless of their social or economic standing in society will be treated equally.
Technological Tools That Will Facilitate the Business
A website will allow the company post comprehensive information about their new business product on the internet to enable access by prospective clients.
Social media tools will be helpful in allowing consumers to participate in polls, advertisements and product development (Österle, 2013). This platform is considered to be the most valuable tool in the business since most clients have membership in social media platforms such as Facebook, Twitter, Instagram, and WhatsApp.
Risks of Technological Transformation That Might Have an Impact on the Business
Advanced technology could isolate prospective clients who would like to adopt the disposable plastic gloves in their service station and are not able to adequately communicate with the company (Davenport, 2013).
If technological advancements improve the technology used to fuel cars in service stations by using tools such as robots, the plastic disposable gloves could be rendered obsolete.
References
Artto K., Ahola T., Kyrö R. K, Peltokorpi P. (2017). "Managing business networks for value creation in facilities and their external environments: a study on co-location", Facilities , Vol. 35 Iss: 1/2, pp.
Carroll, A. B., & Buchholtz, A. K. (2014). Business and Society: Ethics, Sustainability, and Stakeholder Management. London: Cengage Learning.
Davenport, T. H. (2013). Process Innovation: Reengineering Work Through Information Technology. Chicago: Harvard Business Press.
Ferrell, O. C., & Ferrell, J. F. (2012). Business Ethics: Ethical Decision Making & Cases. London: Cengage Learning.
Österle, H. (2013). Business in the Information Age: Heading for New Processes. Berlin: Springer Science & Business Media.
Shaw, W. H., & Barry, V. (2015). Moral Issues in Business. London: Cengage Learning.
Vicki, C., Millar C, and Peters P. (2015). "Multi-generational frames of reference: Managerial challenges of four social generations in the organisation." Journal of managerial psychology 30.1
Wetherly, P., & Otter, D. (2014). The Business Environment: Themes and Issues in a Globalizing World. Oxford: OUP Oxford.
