Assignment 2
Group Venture Plan
BIZ301 – Organisational Creativity and Innovation
Sunday 15th November XXXXXXXXXX)
Product Name: Satellite Box System.
Company Name: Firetech
Tagline: The ultimate fire controlling device, “Predict, identify, alert.”
Mission
Vission
Executive Summary
Table of Content
Analysis on possible market gap/opportunity
According to authors Borchers A
iagada, Palmer, Bowman, Morgan, Jalaludin, and Johnston (2020), with climate change bushfires in Australia are becoming more frequent. The effects of the fires are large: economic, social and ecological. Furthermore, the fires also follow with health issues on the public, such as aggravation of cardio‐respiratory conditions and premature mortality. For example, from the XXXXXXXXXXbushfires it was calculated that the fires were responsible for 417 additional deaths and for over 3000 people getting hospitalised for health conditions risen from the fires such as asthma, cardiovascular and respiratory problems. Some of these were acute emergencies. Seeing that the fires affect not only the nature and economy but also the health for everyone, our Firetech product is something that can help to relieve these issues.
Figure 1 source: Australian Bureau of Meteorology
Although there are other ways to fight against climate change, our product introduces a way to diminish the destruction that is too late to fix at this point and as the best option being fighting against the fires. In the figure above it can be seen how the temperature has been inclining into higher and higher, especially from the 1970s. There have been 36 major bushfires in the years XXXXXXXXXXUlubaşoğlu Mehmet Ali, Rahman, Önder Yasin Kürşat, Chen, & Rajabifard, XXXXXXXXXXFrom these bushfires and also from floods that have occu
ed in Australia there has been 15 million Australian dollars’ worth of insurance claimed. This product can really work through these issues discussed and help to minimize the fires in the future.
Furthermore, the Climate Council of Australia announced that the number of extreme fire danger days will be increasing yearly as of climate change and the past five summers have been the hottest in the history (Mo
is, XXXXXXXXXXThis is another reason why this Firetech will be a vital key for many businesses as the start of a fire will be put down earlier as it can be found in the beginning of fire with this product.
There are 85,483 agricultural businesses in Australia and the gross value in XXXXXXXXXXwas XXXXXXXXXXbillion Australian dollars ("Farm Facts", XXXXXXXXXXFurthermore, these businesses occupy 50% of Australia’s landmass ("Farm Facts", XXXXXXXXXXWith these details the importance of fire safety is crucial for the future of the farmers with the climate change affecting higher chances of fires every year more and more and this shows the large market opportunity there is.
By gathering all this information and discussing the need for this new product line we are anticipating this information when making a decision to take our product to the market that we envision being successful (Kuada, XXXXXXXXXXBy analysing the market opportunities, we recognize better what the customers could want and if this product will be useful. By the research done above we can conclude that this product is something that would
ing more safety in the future for lots of farmers, their businesses and nature.
According to Stevens, Sherwood & Dunn (2006), essential groups of factors to analyse for market opportunity are external, financial and internal considerations. Some external factors that need to be considered are the competition, the cu
ent market, economic situation and market size.
The cu
ent market does not have anything very similar to the product that would fulfil the customers needs how this our Firetech product does. This product would be an essential product and even if the economic situation would not be the most idealistic, this product is needed for safety reasons as its more of an essential product than a “lifestyle product”. The market size would be 85,483 agricultural businesses around Australia, from which some are located in more high-risk areas than others.
Another factor to consider within market opportunity is that will this product be financially a good investment with product pricing, material and manufacturing costs, marketing, patent and all other costs (Stevens, Sherwood & Dunn, XXXXXXXXXXBefore putting in any financial investments market opportunity analysis can give a good aid on making sure this product line is something that will be successful and needed in the targeted market. The financial considerations and calculations are discussed more in part H.
Lastly, some internal considerations are the purpose, corporate objectives and resources, which clarifies if this is something that should be pursued (Stevens, Sherwood & Dunn, XXXXXXXXXXThe purpose discusses what the organisation is, which is a high-tech company that wants to create something useful for fire safety. The corporate objective is the mission that Firetech drives which is to
ing better fire safety for Australia in the future in the bush areas, for farmers and their businesses. Resources are the people working, money and the facilities that this company could ca
y out this market opportunity with.
Another way of seeing market opportunity for this product is by blue ocean strategy. Firetech is
inging something to the market that is not just another version of a product that everyone sells, but a product that can do many things that the products in the market cannot and that will be more useful and safer. Furthermore, what our product does is create new demand, not just compete with existing market like red ocean strategy products (Kim, & Mauborgne, 2017).
value proposition:
Our fire detecting satellite box system helps rural farmers who want to keep their families, businesses and livestock safe from the destruction of fires by using advanced fire protection technology that alerts both the consumer and the authorities about the danger, as well as the ability to be linked to a water sprinkler system to automatically extinguish the fire when detected in its early stages unlike standard sprinkler systems.
When creating this product, we are targeting consumers that live in bushfire prone areas and that have suffered with the loss of land and business due to the recent bushfires. These farmers already have a satellite connected sprinkler system set up around the property that measures soil temperature in order for the sprinklers to release water. Farmers also have the satellite connected to a smart device to ensure full control from a home location. Our product is an additional censored black box that is attached to the famers satellite that will measure air temperature, smoke quantities and air quality to determine whether the su
ounding conditions have become fire prone. We have also designed 6 solar powered fire sensors that are equipped with an infrared camera, monitoring screens, sensors that measure air temperature, smoke and air quality that can be placed around the diameter of the farmers property. These sensors will report back to the black box that is attached to the satellite, creating a trigger alarm to then set off the sprinklers. The blackbox device will also be linked to the farmers existing home smart device to inform them of the alarm. After 5 minutes of the alarm going off, the device will automatically inform the local fire services unless first turned off by the farmer.
Product features:
· 6 solar powered fire sensors scattered around the property and one main box system to be attached to existing satellite
· each sensor has an infrared camera to assist in fire detection
· works through a satellite connection
· easy to connect to existing satellite watering system
· alarm is triggered when sensors detect fire, resulting in automatically sprinkler system
· farmers and local authorities are automatically notified when alarm is triggered
· farmers are able to stop the alarm through connected home screen device
· low cost and low powe
Rural areas and farmers: Since firefighters arent close by therefore having the rural devices located around their property (farms, bushland) will alert authorities and automatically put out fires when detected. These devices, paired with normal backburning and other methods of fire preparation, are more effective due to it’s fast reaction time. The device also sends out an automatic location alert to authorities, therefore authorities can track the start of the fire.
· it does more than the traditional smoke alarm and watering system (it predicts blazes, identifies blazes, notifies authorities and extinguishes blazes).
· useful to farmers and rural areas that are bushfire prone and rely on farming as their source of income
· useful to consumers that have been previously affected by the Australian bushfires
· offers more peace of mind to the consumer
· gives more information to the consumer about their house and where the fire is located.
· alerts authorities quicker than the consumer’s reaction time would allow
· climate change means that temperatures are getting hotter, thus, creating more fires
· if a little fire starts, the sprinkler system will put it out before the firefighters need to come out therefore, saving the firefighters time and resources
Smart i
igation system used by farmers.
https:
fleetspace.com/news/future-farming-climate-change-satellites-and-smart-i
igation
When creating this product, we are targeting consumers that live in bushfire prone areas and that have suffered with the loss of land and business due to the recent bushfires. These farmers already have a satellite connected sprinkler system set up around the property that measures soil temperature in order for the sprinklers to release water. Farmers also have the satellite connected to a smart device to ensure full control from a home location. Our product is an additional censored black box that is attached to the famers satellite that will measure air temperature, smoke quantities and air quality to determine whether the su
ounding conditions have become fire prone. We have also designed 6 solar powered fire sensors that are equipped with an infrared camera, monitoring screens, sensors that measure air temperature, smoke and air quality that can be placed around the diameter of the farmers property. These sensors will report back to the black box that is attached to the satellite, creating a trigger alarm to then set off the sprinklers. The blackbox device will also be linked to the farmers existing home smart device to inform them of the alarm. After 5 minutes of the alarm going off, the device will automatically inform the local fire services unless first turned off by the farmer.
The Satellite System was created to assist farmers and landowners who rely on using their land for business. This new system incorporates advanced technology that predicts fires, identifies small flames, alerts the consumer and authorities about the danger and resourcefully destroys the fire in its early stages. This new technology is built to sense, smoke, temperature and oxygen levels in the air which will then trigger a sprinkler response around the property to extinguish any small flames before they have the chance to start a wildfire. The satellite dish is equipped with an infrared system and sensors and is linked to a fire proof touch screen wall device that is located in the consumer's home which alerts them of the immediate danger using an alarm. This