NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 02
Submission BCS
Vehicle for environment and for our country
Submission Date & Time: 2021-11-28 10:56:51
Event Name: NMO S4 Sprint One - I Business Institute
Solution Submitted By: Archana Kumari
Assignment Taken
Prepare an annual operating plan for Financial year 2021-22.Case Understanding
As we know that there is a lot of scope for renewable energy in India because of various incentives planned by the government or for customers . But there is a main problem which arises is that there is very little market for EVs in India because of charging point infrastructure. A huge population is living in the middle class and the middle class can't be able to fully adopt this technology in their day to day life. So I have to make some strategy or make important hurdles that arise in order to adopt electric vehicles for the middle class. Now the 2nd point is to there are 2 mechanical engineer ,1 electrical engineer , 1 CS, 2 marketing and 2 are PGDM graduate so here main problem which came to arise that appoint people in right place and there is being lot of chaos for appointing this because there us a 8 people who are belonging to different specialization and between 2 of them are fresher so its a headache task to do it. There are several departments and there is a limited resources so this can create dissatisfaction for any departments and this is the very headache problem is to solve this problem our engineers team was designed a prototype of EV but the problem is to arise is that is this EV is working properly or not because it was not tested in Indian market well . We face a challenge to decide a correct profit margin for our product because in this competitive world if we want to survive then it us the most important thing to decide but we did it after long discussion. And then we have to decide the target customer and take a selling strategy. Other problem is to infrastructure of India and how we tackle it for meeting customers desire. How’s the work is to be going on and how it will be achieved in highest efficiency level. As we know our targeted customer which is middle class and there basic necessities is pricing and we have to work on itBCS Solution Summary
We have to research on market that how market react in Electrical Vehicle and how its market, taste of customer in Electrical vehicle , their requirements in electrical vehicle, and customers demand and choose target ( customer who can buy and whom we are start our startup) and look at market and government . As we see, governments want to electrify vehicles so that governments have to invest less in importing crude oil and also want to decrease their dependence on middle east countries or in any other countries. As we already know about the government's ambitious project is atma nirbhar bharat so from this we can support this also. And government take several giant steps towards to support or pull market in towards Electrical vehicle like National electric mobility mission which are launched in 2013, FAME 1 & FAME 2 (which are helping in technology development, demand creation ,improving charging infrastructure ), Me ITY’s phased manufacturing programme which are launched in 2016 and then PLI scheme for prompting electrical vehicle manufacturing in India . This is all the facilities which are provided to just promote manufacturing and research & development in India . here government take several tax incentives programmes for manufacturer so lets came to customer side because without customer no startup can succeeded so here government give several incentives in tax to customer to just make market for electrical vehicle like government has slashed GST tax to 5% from 12% this is a very big decision because this alone cut 50000 crore tax of government in 5 year. And several state governments also take several steps towards electric vehicles like providing subsidies in purchasing electrical vehicles . and government ordered big scale player like OLA and UBER to 40% fleet to eclectic vehicle by 2026 by seeing all this thing we conclude that there is a market exist and have a very good future . After that we have to know customer desire in electrical vehicle by doing research in market.Solution
EXTENSION PLAN
1st year - we focused on middle class of our targeted area(Bangalore) and we launched only 1 modal for our 1st year, we targeted customer, to reached approximately 3.20 lakh. Firstly our expectation targeted selling is 100 unit for an annum.
2nd year - in this year we also focused market, is middle class and keep stay with 1 model but we launched 3 segment of it.so, it can meet with our customer desire and we add on some features or improve the power of engine or other components. Our expectation targeted selling is 300-400 unit
3rd year - now for this year we want to expand our market from only middle class to upper middle class and for targeting this segment of market we have to launched some other product which are different from our existence product and improve or increase the strength to meet upper class desire .Our expectation targeted selling to
4th year - after that we focused on the middle and upper middle class and launched 2 more models with new technology and launched 3 segments of our existence product by adding new features.
- We have to strengthen our engine capacity
- Product appearance should be that which meet upper middle class aspiration
- Increasing our workstation from 1 to 2 workstation
- Speed should be meet to our new targeted customer aspiration
- And by all of this we have to increase our product selling price
5th year - Now we will want to expand our business to different city that is in DELHI and we focused on middle or upper middle class
Add on CRM (CUSTOMER AND RELATIONSHIP MANAGEMENT ) for our management improvement if any loopholes in there and its increase our management efficiency
We want to launched one model which is suitable or according to delhi’s customer aspiration or desi
PRODUCT DEVELOPMENT PLAN
- As our customer aspirations of 1st year we have to focused on
- Moderate speed
- Moderate price
- Range is more than moderate
- Moderate charging time
- Appearance is to be normal
- Now we are focused on product upgradation so we have to invest in our technology or hiring technology from some else
- Add on some management software like CRM for increasing our efficiency
OPERATIONAL PLAN FOR ONE YEAR
*Ensure a strategic plan is in place – First off, We make a strong strategic plan that has already been developed. As we know our targeted customers are in the middle class so we have to focus on 2 things mainly first is the range of the vehicle or price. so we have to focus on it and keep working on it. As we target a middle class which is almost 1.53 lakh and there are 40000 people already existing customers so from this we know that there is a huge market for ourselves. As annual plans are essentially tools that are used to carry out the strategic plan, it’s important to have this guiding document created already.
*Identify important goals – Next, we have to establish which goals your business is going to pursue. Generally, a short list of simple goals is best. After you’ve outlined several goals, think about the initiatives our business can pursue to achieve them. Quality control measures, faster delivery times, improved fraud protection, and increased employee training are all. We try to sell at least 150 products so we should meet our needs.
*Select KPIs – Then, we need to identify the KPIs that our business is going to use to measure progress. It’s best to focus on ‘leading’ KPIs (predictive measures that indicate what to expect from the future) rather than ‘lagging’ KPIs (measures that confirm a pattern after it’s already in progress). As these KPIs will be central to our business for the next year.
*Develop tracking systems – After your KPIs are set, there are lots of different ways that we can track our annual plan’s progress. Some of the things that we want to choose for our methods are calendars, dashboards, and weekly/bi-weekly meetings.
*Communicate with my team– Set aside some time to discuss our KPIs, and the annual plan itself, in more detail at the beginning of the year. Regardless of where they stand in our organization, it’s important for everyone to understand why these metrics
Conclusion
This case scenario is all about electrical vehicles where we see its scope or challenges. Here scope is its market that is in an emerging state and looking like a very good future because it is gaining government attention and there are a lot of challenges like charging infrastructure, proper technology And after we are 8 members who want to foray into this segment and we are working on it where I lead this team. A lot of work is to be done by leaders like making operational plans where we make strategic planning and making projections for future sales strategy. We are deciding to assemble all the components rather than complete manufacturing. We decided to manufacture electric scooters because of its great scope and we targeted the middle class so middle and work to meet middle class aspiration. After the team allotment i have to see whether the progressing work is in the right direction or not. I’ m to controlling and analyzing the work and also see whether it’s going in right direction or not and we did it very well.Attached File Details
View Attachment file (vechicles for environment and for country .pptx)Video
https://www.youtube.com/watch?v=TFrC1kiwKPIComments
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
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