Market problem
Discuss about the Innovation and Sustainable Business Development.
It is very important in the modern world to provide assistance to the disabled people so that they are not dependent on the other people in satisfying their wants. Due to the advance in the medical facilities, it can be seen that the rate of mortality of the people has decreased to a great extent. This had been taken in to consideration by many companies so that it can provide support to the elderly people so that they can be independent and does not rely on the assistance from others. The main purpose of this assignment would be to highlight the use of electric wheelchairs among the elderly and disabled people so that they can use it for meeting their daily needs and preferences. The name of the wheelchair will be known as Carrier Wheelchairs, which will help in providing assistance to the elder people. The organization will be responsible in providing the products to the customers who are in need of it (Linton, Schafeld & Padur, 2014).
The use of manual wheelchairs involves the person in driving the product in a manual way, which may result in loss of energy and cannot be used in difficult terrains. Manually controlling the product may also result in causing major accidents, as the people may injure their body parts due to their fragile body parts (Mejia-Gutierrez & Zuluaga-Holguin, 2013).
In most of the countries, the use of electric wheelchairs will result in many advantages. They are as follows:
- Provide seating options- The wheelchairs will have options to customise the seats according to the weight and body mass of the customers. This will provide a better and comfortable seating option to the elder people so that their stability can be maintained. The reclining facility that will be provided in the seats will help in providing better comfort to the people so that it can provide relief to the people for a longer duration (Santti et al., 2017).
- Distance travelling- The older people will be able to travel for long distances due to the kinetic facility that will be present in the product. It will be beneficial for the people, as they would be able to travel longer distances with the help of the product (Cantu, Sepe & Tzannis, 2016).
- Conserving the energy of customers- The use of motorized wheelchairs will result in saving the energy of the elderly people, as they do not have to use it in a manual way. The manual labour may increase the wearing of the nerves and tissues along with the muscles of the customers, which may damage their body parts as well. The use of electric wheelchair will result in saving the energy for other activities (Danielsson & Lothman, 2015).
- Conservation of space- The electrical wheelchairs have a smaller turning radius, which will help them in manoeuvring through the small spaces as well. The use of the central wheel technology will result in saving the spaces so that the elder and disabled people do not have to use more of their energy (Padir, 2016).
- Difference in terrain- It will allow the people in travelling to the areas where manual products would not have allowed the people. The use of the electrical products will provide options to the elder people in selecting their types of tyres and the positioning of the wheel so that they can have a comfortable journey (Frank & De Souza, 2013).
The use of the product will provide many benefits to the customers, as the idea of the business seems viable. It will help the people in travelling to different places in a comfortable manner so that they are not dependent on other for assisting them. The use of this product will result in helping the customers in the following way:
- It will help in saving the time of the customers with respect to their transportation facilities (Samuelsson & Wressle, 2014)
- It will also result in increasing the level of independence among the people so that they are not dependent on others for their transportation
- The vehicle can be used in all types of terrains so that the ride of the people can be comfortable as well (Seki, Akasaka & Aoki, 2015)
- It will also have braking system so that it can prevent the accidents, which may cause an injury to the people who are riding in it
- The product will be designed at a lighter weight so that the weight of the product is not high, which may cause a problem for the elderly people in using it (Panzarella, Schwesinger & Spletzer, 2016)
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Key Partners The product will go in to a partnership agreement with more than 30 suppliers so that the materials that are used for the vehicle can be sourced from the best companies (Cooper & De Luigi, 2014). Tesla will be a major partner of the product, as they will deliver low cost motors for the product |
Key Activities The software and hardware of the product will be built internally so that the design can stay within the company. This will result in gaining a competitive advantage (Jang et al., 2016). The product will have its own chain of dealers throughout the country |
Value Proposition The electrical products will be friendly towards the environment so that it does not cause any pollution. The battery of the vehicle needs to be changed after 20000 miles. The use of powertrain design will result in using the vehicle in all terrains (Borges et al., 2016) |
Customer Relationships The charging points for the battery will be set up at regular intervals so that it can allow the customers in getting easy access. The exhausted batteries will be taken up from the customers and new battery will be delivered to them at their location . |
Customer Segments The product will aim at targeting the customers who are conscious and are not able to commute in a proper manner. The product will be priced at $700 so that the price is competitive and customers can be able to purchase it (Seki, Akasaka & Aoki, 2015). . |
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Key Resources The company will partner with Tesla so that latest technologies can be used in the product. A team of excellent management will be hired so that manufacturing the product can be easy. |
Channels The sales of the product will be conducted directly by the company and the promotions will be done through online and print media |
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Cost Structure The batteries are an important part of the product The manufacturing unit of the product needs to be established Government will provide subsidies to the company since it will help in developing the society and zero pollution level will result in caring for the environment as well |
Revenue Streams The sale of the products in different parts of the country The batteries of the product will be patented and the technology may be provided to other companies as well |
Business Model Canvas
The electric wheelchair will provide a great advantage to the older people, which will help them in commuting to different places at an easy manner. It will also result in providing a higher rate of independency among the people so that they do not have to rely on other people. It will also result in identifying the resources that are necessary for the product to be designed in a proper manner (Cantu, Sepe & Tzannis, 2016).
The options need to be identified by analysing the market in a better manner so that the needs can be identified properly and the design of the product can be done accordingly as well. The research that will be conducted in the market will result in understanding the taste and preferences of the older and the disabled persons along with the comfortable price range so that the product can be sold in an effective way. The level of technologies that are needed by the people also needs to be assessed so that it can result in understanding the dynamics of the market (Frank & De Souza, 2013).
Benefits of the idea
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Tangible Changes in Program Operations resulting from Project Implementation |
||||||||
|
Program Operational Cost Elements |
FY |
FY |
FY |
FY |
FY |
|||
|
Changes in Program Operational Costs (Negative Values = Decreased Costs) |
2019 |
2020 |
2021 |
2021 |
2022 |
TOTAL |
||
|
A. Personnel — Operational Costs |
$10,000 |
$10,000 |
$10,000 |
$10,000 |
$10,000 |
$50,000 |
||
|
A-1.a. (Salaries & Benefits) |
$10,000 |
$10,000 |
$10,000 |
$10,000 |
$10,000 |
$50,000 |
||
|
B. Plant & Facility — Operational Costs |
$1,000 |
$1,000 |
$1,000 |
$1,000 |
$1,000 |
$5,000 |
||
|
C. External Service Provider — Operational Costs |
$14,300 |
$14,300 |
$14,300 |
$14,300 |
$14,300 |
$71,500 |
||
|
C-1. Contractor Services |
$1,000 |
$1,000 |
$1,000 |
$1,000 |
$1,000 |
$5,000 |
||
|
C-2. Maintenance & Support Services |
$650 |
$650 |
$650 |
$650 |
$650 |
$3,250 |
||
|
C-3. Network / Hosting Services |
$5,000 |
$5,000 |
$5,000 |
$5,000 |
$5,000 |
$25,000 |
||
|
C-4. Data Communications Services |
$7,500 |
$7,500 |
$7,500 |
$7,500 |
$7,500 |
$37,500 |
||
|
C-5. Other |
$150 |
$150 |
$150 |
$150 |
$150 |
$750 |
||
|
D. Data Processing — Operational Costs |
$15,000 |
$15,000 |
$15,000 |
$15,000 |
$15,000 |
$75,000 |
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D-1. Hardware |
$10,000 |
$10,000 |
$10,000 |
$10,000 |
$10,000 |
$50,000 |
||
|
D-2. Software |
$5,000 |
$5,000 |
$5,000 |
$5,000 |
$5,000 |
$25,000 |
||
|
D-3. Other |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
||
|
E. Others — Operational Costs |
$750 |
$750 |
$750 |
$750 |
$750 |
$3,750 |
||
|
E-1. Training of the given software |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
||
|
E-3. Other |
$750 |
$750 |
$750 |
$750 |
$750 |
$3,750 |
||
|
Subtotal of Operational Costs ( Rows A through E) |
$41,050 |
$41,050 |
$41,050 |
$41,050 |
$41,050 |
$2,05,250 |
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|
F. Revenues / External Contribution / Fiscal Offsets |
$50,000 |
$55,000 |
$60,500 |
$66,550 |
$73,205 |
$3,05,255 |
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|
F-1. Revenues |
$50,000 |
$55,000 |
$60,500 |
$66,550 |
$73,205 |
$3,05,255 |
||
|
Total Changes in Program Operational Costs (Sum of Rows A through E minus Row F) |
($8,950) |
($13,950) |
($19,450) |
($25,500) |
($32,155) |
($1,00,005) |
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|
Cumulative Change |
($8,950) |
($22,900) |
($42,350) |
($67,850) |
($1,00,005) |
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|
Negative Values indicate decreased Costs (i.e., Tangible Benefits). Positive values indicate increased operational costs outside of those specified in the ProjectCosts spreadsheet. FY Totals are carried forward to the InvesmentSummary sheet for investment summary calculations |
|
Project Cost Elements |
Project Cost Table |
||||||
|
(Project Planning,Development & Implementation Only – |
FY |
FY |
FY |
FY |
FY |
TOTAL |
|
|
No Operational Costs) |
2019 |
2020 |
2021 |
2021 |
2022 |
||
|
(Salaries & Benefits) |
$150 |
$150 |
$150 |
$150 |
$150 |
$750 |
|
|
Website costs |
$250 |
$250 |
$250 |
$250 |
$250 |
$1,250 |
|
|
Consultant Services |
$65 |
$65 |
$65 |
$65 |
$65 |
$325 |
|
|
Hardware |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
|
|
Software |
$200 |
$200 |
$200 |
$200 |
$200 |
$1,000 |
|
|
Risk Infrastructure |
$500 |
$500 |
$500 |
$500 |
$500 |
$2,500 |
|
|
Training |
$50 |
$50 |
$50 |
$50 |
$50 |
$250 |
|
|
Total Project Costs (*) |
$1,215 |
$1,215 |
$1,215 |
$1,215 |
$1,215 |
$6,075 |
|
|
Cumulative Project Costs |
$1,215 |
$2,430 |
$3,645 |
$4,860 |
$6,075 |
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Total Project Costs are carried forward to the InvestmentSummary form |
The introduction of electrical wheelchair in the market will seem to be a profitable venture, as the analysis shows that the revenue will increase in each of the fiscal year starting from 2019. This shows that the product will be liked by the older generation along with the disabled people as well. The use of the latest technologies in the product will also result in increasing the competitive advantage in the market so that the customers can take the right product at a competitive price. The feasibility study has helped in understanding the cost that will be incurred by the company with respect to the hardware and the software of the products along with the salaries that need to be given to the employees (Borges et al., 2016).
It can therefore be recommended that the product will be in a high demand in the market, as it will help in providing better transportation facility to the older and disabled persons. It will increase their level of independency in the market, as they do not need to rely on others to fulfil the demands. It will also result in increasing the attraction in the market, as the product will be built in a partnership agreement with Tesla Motors (Jang et al., 2016).
Conclusion
Therefore it can be concluded that the use of the electrical wheelchair will be feasible in the Australian market, as the customers will be able to use it for transportation facilities. The business idea will be a profitable venture, as the revenues can be seen increasing through the feasibility analysis that was conducted.
Reference List
Borges, L. R., Martins, F. R., Naves, E. L., Bastos, T. F., & Lucena, V. F. (2016). Multimodal system for training at distance in a virtual or augmented reality environment for users of electric-powered wheelchairs. IFAC-PapersOnLine, 49(30), 156-160.
Cantù, C., Sepe, G., & Tzannis, A. (2016). A new relational business model for start-ups. evidences from Italian context. In 32nd-IMP Conference (pp. 1-35). IMP Group.
Cooper, R. A., & De Luigi, A. J. (2014). Adaptive sports technology and biomechanics: wheelchairs. PM&R, 6(8), S31-S39.
Danielsson, A., & Löthman, E. (2015). Development of an Off-Road Electric Wheelchair: A Study of the Vehicle-to-Ground Interface.
Frank, A. O., & De Souza, L. H. (2013). Recipients of electric-powered indoor/outdoor wheelchairs provided by a national health service: a cross-sectional study. Archives of physical medicine and rehabilitation, 94(12), 2403-2409.
Jang, G., Kim, J., Lee, S., & Choi, Y. (2016). EMG-based continuous control scheme with simple classifier for electric-powered wheelchair. IEEE Transactions on Industrial Electronics, 63(6), 3695-3705.
Linton, R. J., Schafeld, J., & Padur, T. (2014). Smart Wheelchairs or not: Lessons learned from discovery interviews. In Proceedings of IROS Workshop on Rehabilitation and Assistive Robotics: Bridging the Gap between Clinicians and Roboticists, USA.
Mejía-Gutierréz, R., & Zuluaga-Holguín, D. (2013, June). Design of an electrical power assist kit for manual wheelchair under the conditions of developing countries. In Engineering, Technology and Innovation (ICE) & IEEE International Technology Management Conference, 2013 International Conference on (pp. 1-11). IEEE.
Özel, F. M., Davies, H. C., Ernst, C. S., & Nieuwenhuis, P. (2014). How to strategically position European SMEs as part of an electric vehicle technology value chain. International Journal of Electric and Hybrid Vehicles, 6(3), 227-254.
Pad?r, T. (2016). Smart Wheelchairs or Not: Lessons Learned From Discovery Interviews.
Panzarella, T., Schwesinger, D., & Spletzer, J. (2016). CoPilot: Autonomous doorway detection and traversal for electric powered wheelchairs. In Field and Service Robotics (pp. 233-248). Springer, Cham.
Samuelsson, K., & Wressle, E. (2014). Powered wheelchairs and scooters for outdoor mobility: a pilot study on costs and benefits. Disability and Rehabilitation: Assistive Technology, 9(4), 330-334.
Santti, U., Eskelinen, T., Rajahonka, M., Villman, K., & Happonen, A. (2017). Effects of Business Model Development Projects on Organizational Culture: A Multiple Case Study of SMEs. Technology Innovation Management Review, 7(8).
Seki, H., Akasaka, S., & Aoki, M. (2015). Deceleration control system for electric-powered wheelchairs with efficient EDLC charge/discharge. IEEJ Journal of Industry Applications, 4(1), 11-19.
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