NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 02
Submission BCS
Introduction of electric bicycle
Submission Date & Time: 2021-11-28 01:13:11
Event Name: NMO S4 Sprint One - I Business Institute
Solution Submitted By: Raj Agrawal
Assignment Taken
leadershipCase Understanding
from the case we can see there is a huge scope for renewable energy and automobile sector is taking steps in this direction but India is in starting phase and there is a huge scope in this sector specially in two-wheeler, three-wheeler, and commercial vehicles. Government target for 30% adoption of electric vehicles by 2030 so we can develop a product and launch in this growing market and generate revenueBCS Solution Summary
To resolve the problem we have developed a product which is electric Bicycle which can be used by most of the population as it is effective, affordable and easy to use. we can target a huge audience which is college and school going, Daily wage worker and people who need to travel within the city. There is no potential competition in this market. So there is huge scope of success and the project can be completed in low budget and return on investment will be great. the bicycle is ecofriendly and acceptable by government. This sector have a great potential for success.Solution
As mentioned in the case we are trying to accept more electric vehicles in India as Automobile sector has taken several giant steps in this direction around the world recently but Indian market is still at a starting stage so we have a great scope in capturing the Indian market at this stage as the competition is also low as compared to other nations.
Our main goal in this starting stage would be to create a brand which people can trust and make our brand stable in Indian market in upcoming 2 to 3 years so we can focus on diversification and launch our products which can bring us more business. The products would be portable electric batteries and electric assembly which can convert normal cycle into electric cycle. To get stable in to market all our departments will be focusing on giving best services to customers in least cost.
Firstly we are focusing on 2 wheelers that are bicycles because currently there is no such producer is available into market for this price segment. Only producer of E-Bicycle were available that’s why we choose E-bicycle, so for 1 year our proposal for fund raising is: 1.1 cr which will be divided into:
Initial Investment
•Marketing Expense
•Production Expense
•Human Resource Expense
•Financial Expense
•manufacturing Expense
•Research and Development Expense
•Patents and Copyrights
•Legal Expenses
Our primary target customer are School and college students, Door to door shippers and low wage workers we will promote our products by:
1. WORD OF MOUTH
2. BEST SERVICES BEFORE SALES AND AFTER SALES
3. CUSTOMER CARE
4. INTEGRATED DIGITAL MARKETING
5. ENVIRONMENT FRIENDLY
We also made several research in the market like which product is launched so we made several analysis on current situation and also projected demand for electric vehicles particularly in 2 wheelers and by this we all are lend with the final conclusion that demand for two wheelers will definitely goes up in the future and it is great opportunities for us to start our venture.
For this our hiring plan is ready and we focused on following things:
- Determining the budget for payroll
- Identify the man audit resource
- Create Job description
- Sourcing of a candidate
- Screening Process
- Interviewing the candidate
- References
- Offer letter for selection of candidate
- Onboarding
For training we are focus on: On the Job Training and will focused on Internships, monitoring and team training and for retention we are focusing on lowering hiring cost and will gave non-monetary benefits to our staff members like stake in company and make them a part of decision making and in many more things.
By this we will get stable in market and start our venture.
Conclusion
we need a product which is affordable and acceptable so If we introduce this electric bicycle, then it will be very much effective for the environment. As we all are watching that in todays scenario because of pollution our cities are polluting very much. If people go for bike and public transport then it will be hectic , time taking and cost taking. For all these in mind we are making this electric bicycle. we can capture a huge market in this area and become a market leaderAttached File Details
Comments
Article Type: Business Case Scenario, Case Study Solution Submission
Business Case Detail
Title: NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 02
Type: Case Study
Stream: Management
Participant
I am student at I Business Institute completing my PGDM in domain of operations and Business analytics. i am a critical thinker and hardworking person who tries to find out solution to every problem.
Team SPIRIT
Total Team Points: 31500
Invincible Ingenuity
Total Team Points: 23000