Ecomy Enterprise - ECO-BAG PDF

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FACULTY OF ACCOUNTANCY DIPLOMA IN ACCOUNTANCY INFORMATION SYSTEM (AC120) RAC1205C FUNDAMENTALS OF ENTREPRENUERSHIP ENT 300 ASSIGNMENT BUSINESS NAME: ECOMY ENTERPRISE PRODUCT NAME: ECO-BAG

PREPARED FOR: SIR AZRUL BIN ABDULLAH SIR HAMDAN BIN MAT ISA

PREPARED BY: AFIQAH HANIM BINTI HASHIM

2016601768

NOOR IDA IZIANA BINTI NOORDIN

2016601834

NUR AFEEQA IZLYN BINTI Z ZAMRI

2016602202

NURSYAHIRAH BINTI ZULKIFLI

2016601686

NUR SYAMIMI BINTI MOHD ROSLY

2016602274

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TABLE OF CONTENT BIL. 1. 2. 3. 4. 5.

TITTLE INTRODUCTION INDUSTRY PROFILE FACTOR IN SELECTING BUSINESS FUTURE PROSPECTS CONCLUSION

PAGE 3-4 5-6 7-8 9 10

a. INTRODUCTION

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First and foremost, our partnership named as ECOMY Enterprise consists of five members which are Afiqah Hanim binti Hashim, Nursyahirah binti Zulkifli, Nur Syamimi binti Mohd Rosly, Nur Afeeqa Izlyn binti Z Zamri and Noor Ida Iziana binti Nordin. We are looking for the industry profile’s ideas of our company so that we can match to the factors of selecting business and future prospects. We did some research and based on our study and analysis carried out, we decided to set up a new business that specialized in producing shopping bag. Our company’s name is ECOMY Enterprise and located at 3, Jalan Aerobik 13/43, Seksyen 13, 40100 Shah Alam, Selangor which the store is inside the Tesco Mall. Shah Alam is a great place to open up our business that is because of the high population. It is very strategic spot since it nearby to the universities, housing areas and public offices. This area is very popular among the tourists and locals especially among the youths. Moreover, there are many public transports nearby such as Grab, Uber, Taxi, LRT. Bus etc. Therefore, we believed we can earn our income and be a well know shopping bag company to the local. ECOMY Enterprise stands for eco - friendly product to all the users around the world because people can use it over and over again. ECOMY Enterprise is constructed by five persons that manage, produce, market, finance and operate the business. ECOMY Enterprise is a company that dedicated to produce shopping bag with the latest and newest innovation to that product. We named our product as ECO Bag. This ECO bag is a friendly of storage because it can be rolled up into a small and tight bundle as easy as that. In addition, it is very convenient and easy to bring anywhere because it can save space and has a very large capacity. It has 4 different types of compartments which each compartment attaches with Velcro Canvas top section with a netted bottom. Every single compartment have their own specialities such as household and cleaners category, frozen and wet goods category, dry goods category and canned and jarred goods category. The aim of our company is to substantially reduce uses of plastic bags and reduce the percentage of plastic waste problems occur in Malaysia. This is because disposable plastic bags caused a lot of harm and many of the reasons that make this ECO shopping bag so beneficial solutions compared to the plastic bag. Vision of our company is the uses of shopping bag strives towards a sustainable approach, maximally respectively.

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Our mission is to create completely eco- friendly shopping bag and save the earth. We believe this product can use in a long term and adopt innovative ways to suit changing market needs. Generally, every new business needs to render a proper business plan. It is one of the most important steps in conducting business as it can help members of the business to manage their business better. The purposes of our product is potentially help those housewives to lighten their burden to carry all those groceries during shopping and to stop the use of plastic bags in Kuala Lumpur and Selangor areas.

b. PROFILE INDUSTRY

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Walter H. Daubner is the first person who made the shopping bag. He has run a small grocery store in St. Paul, Minnesota and was looking for a way to give his business boost. By careful observation, he notices that his customer’s purchases were limited by what they could conveniently carry. It took him a few years to develop the right solution about the grocery shopping bag. A prefabricated, inexpensive and easy to use and strong enough to carry up. Deubner named his new product after himself, calling it Deubner Shopping bags and sold it for five cents. Deubner patended his product and within three years, by 1915, was selling over a million shopping bag a year. Nowadays, there are many types of friendly shopping bag such as Paper bags, canvas tote bags and nonwoven polypropylene bags. There are many competitors in this industry. It is because we sell the grocery eco bag in Tesco supermarket. Beside that, there are also have giant supermatket that also sell the grocery eco bag. But we innovate and sell the different eco bag which is the bag have many sections that can put variety types of groceries compare to the normal grocery bag that only can put everything in one section. We also have the section that can keep wet materials cool and fresh at the same time such as vegetables, seafood, meat and chicken. We also innovate and add some zip at the eco bag to cover up the groceries that the consumers purchase. For the target market, we focus to those who forgot to bring their own groceries bag and for all of consumers that want to carry many things. Government want to save the world. Government also made a campaign named “no plastic bag in Saturday”. The consumer can purchase the grocery eco bag to carry up the things that consumer purchase. The consumer does not need to worry about purchase more eco bag because it is affordable, and it can put a lot of things in there. Grocery shopping bag are now a consumer product with a large global market. In Malaysia, government want to ban the plastic bag from being used. On 1 November 2011, Australia become the first state to ban the plastic bag. The united Nations Environmental Programme Secretariat has recommended a ban on all plastic bag globally.

Nowadays, plastic bag has higher usage amount citizen compare to eco bag. However, grocery eco bag has been widely used in Malaysia, but the citizen still chooses to use the plastic bag for one of the alternatives to carry up the things. This eco bags is one of the steps to help the environmentally safe. In the last year, we witness of using the canvas shopping 5

bag as an eco-friendly to using the plastic bag. the consumer will manage well the types of groceries thus giving up to plastic bags completely. Eco friendly bag can also carry heavy loads. this can make them more suitable to shopping bags than plastic bags, which have a limited capacity of carrying loads.

c. FACTORS OF SELECTING BUSINESS

1. Can cut the cost of buying plastics or different bag for the users

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Price has always been a significant indicator of quality. Making a high-quality product affordable and valuable is the most important things to the customers. Our ecofriendly shopping bag is made by cloth and the buyer can use the shopping bags for years and never throw them away. When the bag get dirty, it is simple to wash them and keep on using them. The bag are strong enough and can be used for many years’ worth of shopping trips. They can also carry far more weight than plastic bags. Obviously this is one of the biggest advantages. We can use them till they wear out.

2. Encourage people to save earth The majority of plastic bags are made of polypropylene, a material that is made from petroleum and natural gas. It is estimated to take between 15 and 1000 years for the average plastic bag to decompose. If you think that the paper bag is a better option, you should reconsider it. Paper bags produce double the atmospheric waste as plastic bags, so they are not the better option for the environment. So here is the solution, our bag produced from the material that are renewable sources. No more worry to save earth! Our bags are manufactured from a host of easily biodegradable materials such as canvas and jute.

3. Good for animals and the environment Plastic pollution is the accumulation of plastic object in Earth’s environment that adversely affects wildlife, wildlife habitat and humans. Plastic bags and their associated plastic pieces are often mistaken for food by animals, birds, and marine life like fish and sea turtles. The effect of consumed the plastic can lead to health issues such as infections and even death by suffocation. From this issue, we come out with our eco-friendly bags that are designed from 100% organic material. Materials used to produce these bags, do not harm the quality of our surroundings.

4.

Can help people to hold more and easier to carry

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Most people may experience a situation where the bagger at the supermarket puts too many heavy items in one bag. So, our solution is our bag can hold many item without burden the user when they use it. Our bag is also great for carrying books, picnic supplies, and any things because our bag is sturdy bag. Plus, for those who are worried to carry fish, prawn or any wet and fresh items that they bought at public market, they can also use our bag as a replacement for plastic and no need to worry that the water flow from the bag because it is waterproof. 5.

Support the campaign by the government in banned plastic bags

The Malaysian government will work to educate the public and raise awareness before introducing a nationwide ban on plastic bags within span of a year. In order to support government effort in banned the usage of plastic bag, they can also use our product in order to replace the usage of plastic bag. This is our biggest opportunity in market our product because people have no other choice beside using our bag.

d. FUTURE PROSPECT OF THE PRODUCT

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From Malaysia’s economy, we believe that our country will support the banned of plastic bags. In ten years, as wholly Malaysia will ban the usage of plastic bags from any shops to support the government effort to save the environment to create a better future. As far from that, people will need reusable bag to go for shopping. This is where we could also largen our market to all over Malaysia to use our product, instead of for the only places that had been discard the usage of plastic bags for instance Kuala Lumpur, Putrajaya, Selangor, Melaka and Johor. In addition, the most important in using our product is that, government will save a lot of costs by reducing the usage of plastic bags. The clean-up costs for example, that usually caused by plastic bags that had clogged the drains takes a lot of costs that we are unaware of. Furthermore, the streets are getting clearer. Just imagine, in 5 years of using our bags, we will no longer see plastic bags flying around when it’s windy. Malaysia will also reduce in plastic bags pollution. In addition, this will also reduce the marine life to pollute. The waterways are clearer, food chain is also less contaminated. We could live a better life ahead by using this product.

e. CONCLUSION

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As a conclusion, identifying, analysing and choosing the business opportunities are essential to determine if the business venture can make profits and sustains its competitive. Scanning of the environmental changes is one of the important steps to identify the new business ideas. Once the idea generated, the planning and development process begins. Each of the business opportunities must be screened and evaluated to determine the feasibility. Thus, ECOMY is able to spot business opportunities in the world of business by using several approaches in seeking the business opportunities. The factors of selecting business that we came up with are our product are ecofriendly product that we can solve customer problems during their shopping routine.Our product also has huge change to export internationally and to ensure eco-friendly introduced to the world. Based on the assignment, ECOMY are able to understand the idea of entrepreneurial venture that include all the elements that are needed to convert an idea to a successful business venture. Furthermore, ECOMY are able to implement the business opportunities which can be describe as attractive economic ideas to create a business enterprise, earns profits and ensure further growth of business. From the aspects, ECOMY could conclude ones must have sufficient knowledge on how the market works and have ability to grab the opportunities when they arise and a proper of understanding on demands and supplies in order to run a successful business.

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