Smartphone Casing and Covers
Technology is evolving rapidly in the modern
times. However, a new technology, especially in the communications industry,
comes with unique challenges. A smartphone, for instance, has proved to be
effective in solving day to day problems with regards to communication and
processing vital information. However, it is expensive to be afforded by
ordinary individuals. Besides, cliques of those that can afford the
sophisticated phones canhardly protect them from damage. An accidental drop of
an Apple smartphone, for example, can signal the end of its service, no matter
how sophisticated it is. To the owner of the phone, it is a tragic loss of
hundreds of dollars.
As such, there is a need for a provision of a
solution to this problem. Because smartphone market penetration in the
developed world is deep, an investment in a firm that manufactures the covers
and casings of the sophisticated phones will be viable. The smartphone industry
is barely a decade old, which means that the smartphone casing production is
not saturated. The implication of this is the potential to maximize sales
revenue and profits, which is a major goal for any entrepreneur.
Competencies and Skills
The team members of the new firm possess
entrepreneurial skills necessary for the survival of the startup. Most of them
are passionate about technology, and
their work history is anchored in the
sector. Besides, they have a proven track record of performance and service
delivery. The skills will come in handy for the firm, given the tumultuous
nature and the stiff competition in the technology sector. Other skills that
the team members have included are a
strong knowledge of the customer needs with regards to phone casings, ability
to work as a team, innovative mindsets, and strong entrepreneurial culture.
Personally, I
have a strong background in product sustainability through recycling of used
products like plastics. Plastics and other recyclable materials are used in the manufacture of phone casing due
to their malleability. As such, the firm is set to be successful in
environmental conservation, sustainability and the acquisition of cheap inputs
for manufacture of casings. My skills in
this field will be useful in ensuring that the venture’s goal is realized.
Stakeholders
Some of the stakeholders include the
government, investors, regulatory bodies and loyal customers. Others include smartphone
manufacturers, donors, and environmentalists. The
role of the government is to provide support to new startups to ensure
their survival in a very competitive business environment. The government
support is attainable via subsidy offers to an environmentally-conscious firm
to encourage the establishment of similar ventures. Also, the government sets
rules and regulation that curb the industry’s activities. This can also be done by the government-backed
regulatory bodies.
On the other hand, smartphone manufacturers can
partner with our other firms by financing theiractivity. It is important for
them to establish a strong relationship with the business entity because the success
can imply a restoration of smartphone user’s confidence hence more sales.
Investors support established firms financially because they will get a share
of the profits made. There is no way any firm can be successful without the
participation of investors. Any startup needs funding for its activities.
Without it, the ideas will never go past the paperwork stage. Donors and
environmentalists offer support to firms that utilize recycle measures to minimize wastage. Due to the use of recycled
plastic to manufacture the smartphone casing, the firm falls in their category.
Passion and Commitment
While profit making is vital for the survival
of a business entity, our business initiative is driven by the passion and
determination that other team members and I
have. What brought us together are the entrepreneurial instincts and the need
to provide solutions to the problems threatening to cripple the advancements
made in the technology sector. The exploitation of the phone casing opportunity
is a mere start for our ambitious goal of becoming a world leader in offering
technology solutions. Besides, the opportunity is good for us because we have a chance to utilize the skills we have
acquired over the years regarding the innovative ways to solve technological
problems.
Categorization of the Opportunity
From Table
2.1, the smartphone casing manufacture opportunity falls under increasing the value of a product or
service. The fact that the smartphone will become less delicate and less
prone to accidental damages implies the upgrade of its value. Smartphone
casings protect the phones from imminent wear and tear. This prolongs its longevity hence increasing its value.
Developing the Customer and the Product
To gain a customer’s loyalty, our
startup must ensure the provision of quality casings able to serve their
intended purpose without a hiccup. As such, the products that we manufacture
should undergo a rigorous process of testing the capability and longevity.
Besides, the casing manufacture firm will need to strike a balance between
creating innovative products and satisfying the customers’ needs. This calls for the need to conduct an extensive
market analysis to determine the tastes and preferences of the potential user
of our product. This way, a variety of casings and covers can be produced according
to gender preferences and coloring.
1.
Guiding
Principles for Case Manufacture Opportunity
1. Asa few opportunities are needed in a lifetime, our business
venture analyzed a wide variety of opportunities available in the tech sector
and settled on one viable opportunity—offering a solution to the delicate
nature of a smartphone.
2. Due to the presence of a large potential market
for our products, the investment in the startup is worth the money and time. In
fact, the venture is poised to establish a strong market presence for the
foreseeable future.
3. The
establishment of our firm relies on long-term maintenance rather than a sale to
an established competitor.
4. Prior to
the establishment of the venture, an extensive market analysis was undertaken
by the team members.
5. Proper measures have been taken to ensure a safe
exit from the market in case of turmoil or unforeseeable and unpredictable
slumps in the economy.
6. By
analyzing the market, it is established that the opportunity provides a
potential for success in the long term.
7. The
skills and competencies of the management are adequate to ensure a successful execution
of the selected strategies for the opportunity. Besides, customer’s trust in
the ventures products will ensure attainment of profits through significant
sales revenue.
5-Step Process of Opportunity Evaluation
a)
Capabilities:
The
handpicked members have years of experience in the technology sector. Besides,
they are knowledgeable on how to steer a startup company that offers solutions
to technological problems. Thus, the venture opportunity is consistent with
their level of expertise.
b)
Novelty: Smartphone
casings are novel. The fact that a Smartphone is delicate implies that the customers
will acquire the casing at all costs.
c) Resources: As the venture embraces
environmental conservation measures, financial assistance, physical support,
and competent human resource provision are within reach.
d)
Return: The use
of recyclable input cuts on the cost of production tremendously. Therefore, the
profits to be made will be higher.
e)
Commitment:
The
selected team is committed to implement the ventures' strategies because of
their passion and entrepreneurial culture.
Vision
Statement
To be a world leader in
the provision of solutions to Smartphone's fragility, wear and tear.
Value Proposition
The venture’s value proposition is to
provide quality casing products to the customers at an affordable cost.
Besides, the casing and Smartphone covers will be distributed at technology
stores available nationwide. To encourage accessibility, we will make it
possible for customers to acquire Smartphone covers from online stores like
Amazon and Alibaba. The delivery of these products will be prompt.
|
Start |
 |
Swot
Analysis
|
Organizational (Internal)
|
Environmental(External
|
|
1.
Strengths
·
The selected team have expertise in the
conversion of Recyclable products to Plastic Smartphone casing
·
Due to the unexplored nature of Casing
manufacture, there are few competitors
|
1.
Opportunities
·
The use of the Internet as a marketing platform for our products will ensure
rapid expansion and globalization of our firm.
·
Sourcing for financial support from
environmentalist donors and investors.
|
|
2.
Weaknesses
·
Inadequate knowledge of the smartphone sizes and the licensing procedures of a phone casing firms.
|
3.
Threats
·
Possible competitors with strong financial
backing
·
Probable extinction of smartphone industry
due to the rise in the use of tablets and other rivaling technological
products.
|
Strategic Approach
From
Table 4.6, our firm shall adopt the
strategy that embraces distinctive competency as a factor. This is because the industry requires a higher
level of innovation and strong relationship development with the customers.
Besides, the startup nature of the business implies that costs should be cut on logistical requirements and the
production process. The saved cost can then be
invested in other areas that boost the business performance.
Partnership Strategy
1.
To ensure a strong working
relationship between the team members, every member shall be
assigned a role that is in line with their area of specialization.
2.
The performance of the organization will be measured by the success of the teamwork
measures that have been put in place. Any sign of deterioration in the
relationship should be addressed immediately to avoid future disruptions in
dedication to service by the team members.
3.
We shall capitalize on the differences to improve the innovative nature of our
business.
4.
The collaboration will be encouraged by
recognizing the efforts of the best performing teams.
5.
All the internal stakeholders will be briefed
periodically to ensure their commitment to the success of the venture.
Strategy
The strategy that could be
circulated to the employees and allies should involve the prompt arrest
of the rising issues within the organization to avoid future setbacks in the
future, which may threaten the firms’ survival. This
canbe achieved through the development of an organizational culture that
involves accountability and dedication to service.
Social Responsibility
The
social responsibility of the venture will
be ensured in its dedication to
environmental awareness and due consideration of the needs of all the firm’s
stakeholders.
Conclusion
It is
evident that there is a need for protection for fragile phones from damage.
There is a significant market demand for phone covers to protect the expensive
gadgets during accidental drops. Our business entity will cease the business
opportunity by the manufacturing casings and phone covers from recyclable
materials. Not only will we embrace environmental conservation, but also, we
shall offer a solution to Smartphone users. However, we understand that a
startup business require innovative measures to be taken by the entrepreneurial
team. That is why the selected team members have a proven record of
entrepreneurial performance and the needed skills to ensure success.
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