BUS362: Introduction to Entrepreneurship Assignment Help
The Feasibility Blueprint Assessment [ESSAY]
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Have you ever thought of a solution to solve that bathroom trash bag from falling into the wastebasket instead of rigging the bag? I have an answer to the problem! Based on the concepts I have learned in BUS362: Introduction to Entrepreneurship the focus of this paper is a feasible blueprint assessment to assess whether pursing the innovation of the "elastic bathroom trash bags" is feasible, worth wild, and if this is a go or no go. Pursing this idea will resolve the rigging of the bathroom bag, be affordable, and convenient (Botha et al, 2016). The objective is to eliminate the hassle in individuals' lives. Everyone wants to keep their bathroom clean however it is not the best work. The important thing to understand is that right kind of trash bags can make everything very pleasant. This business idea will explore so many options in this category like snug-fitting as well as attractive bags keeping in mind different kind of aesthetic of the different kinds of bathrooms (Yang et al, 2016).
Assess the problem or opportunity identified by the business
A garbage or a trash bad is based on material used for the collection, disposal, storage as well as dealing with the garbage. Disposable bags can find a huge variety of applications which is part of transportation and also right kind of distribution of the garbage (Yang et al, 2018). Some of the problems are:
a. It is tough to find small trash bags in the store.
b. The trash bags are expensive.
c. Plastic bags are harmful for the environment.
Solutions proposed for addressing the opportunity
It will be designed specifically as per FDA and USDA standards and are thus made of high quality, extremely hygienic, leak proof, portable, light in weight and also offer high amount of resistance to water as well as air and thus can be recycled. Such bags will be manufactured by using different kind of materials like LDPE also called as low-density polyethene, HDPE which is also called as high-density polythene, recycled material, woven type of polypropylene and biodegradable material and many more (Burns & Dewhurst, 2016).
The design of business model for the venture
The business model for the venture includes the key partners and the proportions, who are working with maintaining the customer relationship with co-creating the value proposition. The value proposition, hypothesis is based on proposing the bio-based and sustainable products. Here, the customer segmentation is about the polymer manufacturing with new markets and tests related to biochemical companies.
Determine the customer value proposition of the business.
The trash bad industry for consumer is distinguished into so many sections like national level of brand, generic type of market section, private label and the Mastio-based study materials. All three kinds of bags can be bought by customers at different places which also consist of places like retail store, mass merchandise stores as well as discounted store. Local brand and privatised labels are normally sold at high prices then generic kind of bags (Chang, 2016). Normally, there is some kind of advertising which will be required here to promote the trash bags which the company will sell.
In addition, customers can find different colours in trash bags that ranges from soft kind of pastels to something highly bold as well as bright. Present trends are actually the deciding factor in the presence of so many specialty types of hues. Moreover, presence of scented and odour blocked customer trash bags will increase so many kinds of offers. There is can be number of flavours like Vanilla, spring or flowers and many more are some of the scents that consumers will face while shopping for bathroom trash bags (David & David, 2016). Therefore, combination of different colours as well as scents will change the trash bags industry and will provide different options form just a common significance of a current decorative products.
Evaluate the revenue model to be used to manage the business
The company can be the aggregator of different brands. Here, the business model is based on handling the different options with utility providers and handling the new market which is holding the customer goodwill and trust. The value propositions include the feedstock for making the polymers. The product focus on the higher profitability with low operational cost, that helps in accessing the targets depending upon the raw material availability. It also includes the effective marketing strategies to attract the growers and traders about environmental benefits with managing government regulations and pricing. It includes the details about the sustainable packaging and providing innovation to design the optimised packaging for the customer supply chains. The high quality and cost effectiveness arefor focusing on how the recycling business is able to source the fibre. The designing and manufacturing is mainly specialised for the packaging performance and then designing the different types of special packaging techniques. The packaging and the recycling is done with the corrugated case material which is a paper for the corrugated board.
Analyse the execution strategies to be developed for launching the venture.
There is a huge variety of material which can be used here like high molecular weight along with HDPE and it is also called as HMW-HDPE as well as medium molecular weight along with HDPE which is also called as MMW-HDPE. These materials were used in the year 2017 and it yielded high amount of strength to trash bags as per the research. Customer's trash bag manufactured as per the HDPE are three level strong and high amounts of durability than LLDPE trash bags of same kind of thickness (Doppelt, 2017). Materials like HDPE is highly punctured with resistance and less right to zipper when it is punctured vs bags manufactured with LDPE material. Trash bags manufactured with material like HDPE have reduced surface level gloss, are stiff as well as have less stretching than either LDPE bags (Wheelen et al, 2017). In other words, HDPE need specialized film-level extrusion tool as well as is highly challenging to procedures.
The material like LDPE-homopolymers can be another kind of material here in market in the 2017. The material when used in blends and are part of coextrusion with LLDPE, adding to the complete appeal of the finished or completed bags. LDPE have the largest level of clarity of all kind of grades of PE and provide the film a high level of surface gloss. Clarity of bag can be significant for tinted with custom, semi-transparent bags utilising in recycling programs. In addition, this material, when utilised alone, has raised procedures that eases and improved level seal features (Hatten, 2015).
This is a hundred percent has completely blown film industry. As per the research, this is also considered as predominant level of monolayer industry, some ninety three percent of the industry is single level of layer. Coextruded level of systems that can be accounted for the completely, based on the overall worth of noting that in 2014 bags that had a five percent market share, thus, there was modest development (Uhl&Gollenia, 2016).
The trash bag manufacturer as per the research that they are trying to designing for the coming future, with added innovation is what will further drive development of the current market with high level of customization, more complicated systems, multi-layers, and closing for separating from low level commodity sections (Mariotti&Glackin, 2015). Consumers further expect high quality products with so many characteristics like high strength, puncturing resistant, high constraints towards oxygen, odours and moisture and high-level performance. This is why, trash bag producers further seek to completely aligned technology parameters with different kind of expectations. Recent trend is based on colour coding of trash bags to distinguish so many kinds of recyclable materials (Maylor et al, 2016).
Examine considerations for assessing the overall value of the proposed products
There are so many customer's trash bag kinds presence. The highly popular kinds are very small garbage bags, medium level of garbage bags, big sized garbage bags, leaf as well as lawn bags and also liners, twist tie as well as stretch and many kinds of configurations. In other words, so many organizations come up with print types of suffocation with warning on the trash bags (Neck et al, 2018). This company will follow the similar kind trend.
Customer's trash bags are selling in different kind of gauges. As per the research, small level trash bags in typical sense with thin as per the gauging because towards the light-weight applications. Large level trash as well as yard level bags are normally selling thick gauge to hold heavy weight. As per the reports can be gauged of customers trash bags ranging from 0.35 to 3.5 mils, with the high level of gauge that ranging approx. 1 to 1.25 mils (Rosemann&Brocke, 2015). Bags can change by different application as well as the organizations that producers of the bag. Normally, small bags usage thin gauge films, at the same time large bags using heavy gauged cinema.
Summarize the overall assessment of the viability of the business venture.
The market further continues to confronting challenges that involve recycling as well as the culture or the environment. So many US-based states as well as Canadian markets are taking care of bags that be manufactured with specific phase of post-customers reclaim and definitely trash bags that will be made with highly PCR in the coming future. But, in the market supply is a big challenge (Rosemann&vomBrocke, 2015). In the cases other products for instance, customers are motivated to return using the bags to retailers and supermarkets where it can be collected as well as returned for recycling as well as again processing in manufacturing unit. It is obvious, like collective work which is not highly correct or feasible with trash bags, the life further ends at the landfills. As an outcome, procedures or processors are highly struggling with recognizing sources of post customer-based material (Scarborough, 2016). In coming future, it will be very interesting to watch if this motivated processors or other units to move in an aggressive manner towards biodegradable level.
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