ENT300 Individual Assignment 2 2020 ( Muhammad Aiman BIN Muhammad Naufal 2019 203236) PDF

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FUNDAMENTAL OF ENTREPRENEURSHIP (ENT300)BUSINESS OPPORTUNITYCOMPUTER RETAILERBMC of “Tech Catalyst”Student No2019203236Prepared by:NameMuhammad Aiman binMuhammad NaufalGroup/ClassCS110 3EPrepared for: NOORUL HUDA BINTI ZAKARIADate of submission: 9 December 2020Table of ContentsNo. Contents Page1 Exe...

Description

FUNDAMENTAL OF ENTREPRENEURSHIP (ENT300)

BUSINESS OPPORTUNITY COMPUTER RETAILER BMC of “Tech Catalyst”

Student No

Prepared by: Name

Group/Class

2019203236

Muhammad Aiman bin Muhammad Naufal

CS110 3E

Prepared for: NOORUL HUDA BINTI ZAKARIA Date of submission: 9 December 2020

Table of Contents

No.

Contents

Page

1

Executive Summary

3

2

Introduction

4

3

BMC

4

Conclusion

5 - 10 11

Executive Summary In this business opportunity is about starting a business in the future. Main point in this business opportunity are introduction of the business and business model canvas (BMC).

The business type is computer retailer. The name of the business is “Tech Catalyst”. Located at Tamarind Square, Cyberjaya.

There is organizational structure in the business. One become the leader and four branches of position. Manager (Entrepreneur) the leader. Four branches of administration, marketing, operation and financial.

There are 9 elements in BMC. Customer segments, value proposition, channels, customer relationship, revenue streams, key activities, key resources, key partnership and cost structure. All the 9 element is important in every business before started.

9 of the elements will be explained in this business opportunity. This is early step and structure before a business is established.

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Introduction In near future, I am going to start a business. The type of product/service of this business is computer retailer. The name of the business is “Tech Catalyst”. The business will locate at Tamarind Square, Cyberjaya. The business will start on 1 June 2021.

Organizational Structure: Manager (Entrepreneur)

Administration

Marketing

Operation

Financial

Organizational structure in this business start with manager (entrepreneur) as head of the business. There are four branches in the structure. Administration, marketing, operation and financial. All the branches have their own duty and priorities in the business. All the position is important to the business to ensure the business run smoothly and organize. Business model of this business is retailer. The business will be based on retail computer related product. Target customer for this business are people who own PC and people who are new to PC world. People who own PC will needed to buy something or help in their own PC. People who are new to PC world will needed help and learn about the PC. So, the business will help the targeted customer on their problem. The business will help the customer’s problem by selling PC related product to customer that needed for their PC. The business also will help people who new to PC world by providing guide through customer service that provided by the business.

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The Business Model Canvas (BMC) BMC Diagram

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Suppliers Computer peripheral and component manufacture r

PC Building IT support services Selling computer peripheral and component

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Salaries Rent Stocks Marketing

Staff and customer services attitude Mass selection of products Fast services

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Computer specialist

Customer services Promotions

Website Retail Store Social Media

Product sales Computer Services Online Store

Mass Customers People who own PC Gamers Online Streamer PC Enthusiast

In Business Model Canvas (BMC) there is 9 blocks. Customer segments, value propositions, channels, customer relationships, revenue streams, key activities, key resources, key partnership and cost structure.

Customer Segments First BMC blocks, Customer segments. Customer segments is a segment of multiple type of customer that business targeted. The customers of this business are mass customers, people who own PC, gamers, online streamer and PC enthusiast. Mass customers are people who are not into PC, but they know the existent of the PC. People who own PC, gamers, online streamer and PC enthusiast is the type of customer that rely on the business because they have own PC that this business can help. Mass customer think and see this business sell computer equipment. People who own PC would think this business will fulfill their need to buy some stuff related in computer. Gamers and online streamer would think and see this business will help them by selling some equipment related in their need and job to them. Furthermore, PC enthusiast will see that this business is perfect for them to fulfill their passion in PC.

Value Propositions Second BMC blocks, Value propositions. Value propositions is services or products that a business can offer to the customers but it’s different from others or new in the business market competitor. Value propositions in this business are staff and customer services attitude, mass selection of products and fast services. The compelling about staff and customer services attitude is the service will make the customer feel delight with the business service and will come to the business often. This will made customer feel respected as customer. If the staff and customer services attitude is polite and maintained, it can attract customer to always come to the business and it can build the business reputation and be different then others competitor. Mass selection of products can make the business be more popular because there is mass selection of products then other competitor. There will be many choices of products and brand that rare to find. Customer will come to the business first because there is many selections of products then other business and it will be one-stop shop. Furthermore, Fast services is also will be compelling because everybody likes fast services. It is time saving. If the business service is faster then other competitor, customer would prefer the business because it can save the customer time. Especially people who are busy. 6

Channels Furthermore, Channels. Channels is way the business promote the value proposition to its customers by using some channels. Channels that this business use to promote the propositions is social media. Other channels that this business use to sold products are by using website and retail store. Social media such as Instagram, Twitter and many more will promote the business by showing what the business can offer, sold and latest news about the business. Social media is being used to promote the business because in this modern world, most of us use the social media daily and it is becoming part of our life. Also, social media is low in cost marketing for business because does not need to pay the platform to promote the business. Social media will work to promote the business because everyday people will scroll their social media and their might encounter the business. Social media also easy to catch people attention and easy to promote then other ways of marketing. Website and retail store are being used to sold products in the business because it is the platform and ways to sell products of the business to the customers. Website will help the business to promoted and sell some products of the business. Retail store will sell products to the customer. Website is easy to access on everywhere and the customer can buy and see what available on the business on online. The customer also does not need to come to physical store to buy something and it can do it from home. Retail store is for customer that want to buy immediately and see the product in front of their eyes. Website will work to promote and sold products because it can access on the go. Retail store will work to sold products because it is for customers that like to buy physically and shopping.

Customer Relationship Next BMC blocks, Customer relationship. Customer relationship is the relationship between the customer and the business that created by business. This business will interact with the customer through our ‘journey’ through customer services and promotions. Customer services is one the important and close to the customer because it the first things they encounter when enter the store or using the customer service on the phone or online. Customer service will interact with the customer whenever they start to enter the store. Customer service will help the customer to search for the item they want to search, greet them when enter, help them when they ask a question and serve the customer. Customer service also will interact with customer online and on phone. Customer can ask the customer service when they have question about the business through phone or chat 7

online. Another way is through promotions. Promotions will interact with the customer by giving the customer a discount on certain products. By doing this, customer will attract to always come to the store. Promotion also will give the regular customer a special promotion for their loyalty to the business. By doing this, more customer become regular customer and regular customer will stay loyal.

Revenue Streams Moreover, Revenue streams. Revenue streams is how the business generated income in the business. The ways the business earn revenue from the value propositions are product sales, computer services and online store. Product sales is one of the main revenue streams on the business. Product sales is profit from products sold. This is major and most important revenue streams in the business. Furthermore, computer services are services that involve in helping customers I their problem in computer. The customer will pay for the services that they use in the business. This will contribute in revenue of the business. Online store is another revenue stream in the business. Online store is one of the new methods in the business world to sold products. Online store is the one easiest way for customer to buy from the business. Online store can contribute in revenue of the business and it the new current trend in the business world. Online store can also be as profitable as retail store.

Key Activities Next BMC blocks, Key activities. Key activities are important activities that the business have done. Uniquely strategic things that this business does to deliver its proposition are PC building, IT support services and selling computer peripheral and component. PC building is one of the activities that the business does. PC building may be one the unique things that not all competitor does. It is involved customer services because after the customer bought some PC component, they can hire the PC building department to help install or just hire them to build from scratch. PC building also will contribute in revenue of the business. IT support services also involve customer services. IT support services is to support customer anything about IT through phone or on the counter at the store. This will make customer to always come to the business because there are help available anytime needed. Furthermore, selling computer peripheral and component are one of the main things that this business does. Selling computer peripheral and component

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can involve the PC building department and customer services. This is major revenue contribution in the business.

Key Resources Furthermore, Key resources. Key resources are assets of the business that are important to the business. Unique strategic assets that this business does to compete with other business is computer specialist. Computer specialist in this business one of the best compared to others competitor. Computer specialist is highly trained people that expert in computer and have deep knowledge about computer. Computer specialist will be key assets in this business and will be the strong point to compete with others competitor. When the business has their own specialist, the business will become more popular among customer because there is someone that expert and more trusted. Not all business in computer retailer have their own specialist, so it will become an advantage to the business if there is specialist in the business. This will become unique strategic assets and valuable to the business.

Key Partnership Moreover, Key partnership. Key partnership is relationship between another company that important that will help in the business. Key partnership of this business are suppliers and computer peripheral and component manufacturer. Suppliers can help the business in stocks of the products. They can supply products when needed. This will help the business to always in stocks of the products that need to be sold. Computer peripheral and component manufacturer is same as suppliers, but this is more specific and direct. Computer peripheral and component manufacturer will help supply original product direct to the business and does not needed to pay for third party. The business will pay less for the stocks, does not need to worry about the originality of the products and products demand by the customer will be fulfil.

Cost Structure Lastly, Cost structure. Cost structure is cost that business needed to run the business. The business major cost drivers are salaries, rent, stocks and marketing. Salaries are salary of the staff at the business. Rent is rent payment for store that the business rent. Stocks are the stocks that the business buy to restocks product that being sell at the store. Marketing is payment that need to pay for marketing of the business such 9

as billboard and advertisement. Salaries, rent, stocks and marketing are linked to revenue. Salaries are linked to revenue when the business need to pay staff that manage product sales, computer services and online store. Rent are linked to product sales, computer services and online store because to sell a product and computer service we needed a store to operate and doing business. The store needed to pay rent monthly. Stocks are linked to product sales and online store because stocks need to buy to supply the store and online store before the business can start to sell products on online and store. Marketing is linked with revenue because it one of the ways to promote the business and to increase the revenue of the business. So, marketing needed to be pay to increase the revenue and popularity of the business.

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Conclusion In conclusion, I feel that to create a business we need to structure the business carefully. It takes a lot of thinking to build a business from the scratch. I expect that my future business will be successful and can survive the competition in the business. It takes time to build a business platform in the business world. I hope that my future business can slowly established and making name in the business.

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