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Report and presentation (group)</o:p> </o:p> Overview</o:p> </o:p> This group project gives students real-world experiences in understanding how to establish and promote a new...

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Report and presentation (group)


Overview



This group project gives students real-world experiences in understanding how to establish and promote a new business concept. The business concept can be either a NEW VENTURE or a NEW BUSINESS INITIATIVE for an existing business.





The final Strategy Report is to encompass the relevant aspects of developing the business concept, raising awareness, building new revenue streams, and designing and delivering a product or service. Groups are to use the Blue Ocean Strategy framework in developing their respective business strategy and initiatives.





Groups need to initially readBlank, S 2013, 'Why the Lean Start-Up Changes Everything',Harvard Business Review, vol. 91, no. 5, pp’s XXXXXXXXXXThis (Licensed) Harvard Business School Publishing (HBSP) article is available via a Link in vUWS.





In Week 5 Groups will present the initial draft of their selected project framework and then they will over the ensuing three weeks refine the framework.





Note:Individual Assessmentscannotbe accepted in place of an approved Group Assessment. All individual Group members must attend and participate in group activities otherwise a lower mark can be awarded.



Details



The Strategic Report is a document written to convince identified and relevant stakeholder to approve and implement your final recommendations and conclusions.



Through the Report you need to validate and justify your decisions and ideas. Therefore additional details may be needed.



  1. Evaluate the relevant sector and identify the market issues (RED OCEAN)
  2. Identify the opportunity in the market or the problem you are solving. Review any ethical issues to consider in the venture (e.g. product, marketing or funding etc.).

c. Explain your “strategic concept”. (BLUE OCEAN). Outline timelines for key deliverables.

  1. Set your objectives – both short and long term in relation to your defined business development strategy.
  2. Explain how you are going to implement the strategy and validate the go to market approach.
  3. Using RBV and VRIO, identify the skills, experience, and resources needed to develop and implement the strategic initiatives.
  4. Final submission of the Presentation and Strategic Report.

GROUP ASSESSMENT: 40%

Written plan

30%

Presentation

10%



.



Note:Number of words: 3,000 words plus References and Appendices.



Note:Please ensure a minimum of10scholarly references (these may be sourced journal articles, academic papers, Harvard readings, McKinsey publications etc.), and are cited in-text and in the reference list in support of your application of your strategic initiatives and strategies and WHY certain models are being used.





Submission requirements



Due: For group work students use the Turnitin link for checking and referencing purposes. Students provide their final submission of the Presentation and Strategic Report to the vUWS Drop Box submission link and include an originality report. This is will allow the marker to provide feedback via Grade mark together with final marks to each group. The Presentation is required to be submitted prior to the commencement of Session 10.



Marking criteria and standards

CRITERIA

EXPECTATIONS NOT MET

MEETS EXPECTATIONS

EXCEEDS EXPECTATIONS

Report

Range and use of information/sources used to develop the report.

(3 marks)

Uses a very limited range of sources with limited or no citations.

Uses a large range of sources including texts, company and news reports. Sources and citations identified.

Uses a range of texts from company reports, journals, books, magazines/ newspapers and internet sources. All sources are cited in-text and end-text.

Market Opportunity/Problem Identification

(3 marks)

Unclear market opportunity/ problem identified and no convincing explanation for why it is worth solving.

General indication of problem/market opportunity and why it mattered.

Clear statement of the market opportunity/problem that exists & persuasive case for why it matters (is worth solving).

Novelty of initiative, idea, concept, strategy and its fit with addressing the problem/opportunity

(4 marks)

Idea or solution is not new; highly similar existing products or services are already on the market.

Somewhat new and novel idea or modification of an existing solution that could potentially improve on what exists; may need fine-tuning of idea and explanation.

Clear statement showing it’s a highly novel idea or solution that solves the problem really well, generating a “how come no one ever thought of that before?” response.

Uniqueness of the strategic initiative and recommendation

(4 marks)

No clear statement or explanation of the value provided by the initiative proposed; the idea as described does not seem to be one that adds value for customers; or idea presents serious ethical issues.

Developed strategic concepts and initiative may provide value but there is not a clear indication of what that value is and how the organisation provides it; provides ethical idea and articulates a value proposition.

Clear statement as to the value benefit to be achieved from the proposed initiatives: what the organisation provides as a product or service and how the customer will experience that value (and how it adds value over alternative options/solutions); idea and organisation add value through a highly ethical approach/solution.

Market Validation (including relevant stakeholder groups)

(4 marks)

Unclear market validation and analysis or unlikely to be a market for this product/service.

Some proposal on data to be gathered through market research; enough research to show it is a reasonable opportunity.

Strong market research planned identifying potential target customers; great market potential possible.

Feasibility

(4 marks)

Unrealistic because required resources or technologies are not available and projected revenue streams inappropriate.

Some indication of issues and resources involved to make the idea feasible/workable with clear objectives and timeframes & deliverables.

Brief but clear statements showing feasibility (i.e., resources, skill sets, technologies, articulated timeframes & objectives, required funds etc.).

Ethical Issues

Identify ethical issues in a business start-up context

(4 marks)

Identifies ethical issues that have limited or no relevance to the discipline.

Identifies ethical issues that are relevant to the discipline.

Provides reference to relevant context.

Identifies core and relevant ethical issues and their potential implications.

Provides well researched reference to relevant contexts for new venture.

Overall report style/professionalism (e.g. easy to read, good flow of thoughts, interesting and well written) and layout. Sources cited correctly.

(4 Marks)

Basic report with no reader engagement. There is no obvious logic and is hard to read. Minimal referencing standards met.

Report creates some interest and provides some insights and logic with a basic structure. Meets most referencing standards.

Report is well laid out and has logical flow of thoughts, is well structured and easy to read. Accurate in-text and end-text referencing.

Presentation

Structure verbal communication appropriately while expressing complex ideas

(2 Marks)

Structures verbal communication with limited or no logical progression of complex ideas and/or supported conclusions.

Structures verbal communication showing some evidence of logical progression of complex ideas and some support for conclusions.

Structures verbal communication with clear, logical progression of complex ideas and well supported conclusions.

Use verbal delivery that is suited to the audience and context

(2 Marks)

Limited use of volume and/or tone and/or pace that is appropriate to audience and context.

Uses volume, tone and pace that is appropriate to audience and context.

Consistently uses excellent volume, tone and pace.

Demonstrate non-verbal delivery that is suited to audience and context

(2 Marks)

Demonstrates little or no use of appropriate body language and eye contact.

Demonstrates body language and eye contact that is appropriate to audience and context.

Consistently demonstrates effective body language and eye contact.

Make appropriate use of visual aids and media in verbal communication.

(2 Marks)

Uses an inappropriate number and/or quality of visual aids and/or media.

Uses appropriate number and quality of visual aids and/or media.

Consistently uses appropriate number of good quality visual aids and/or media.

Engage with audience to enhance communication

(2 Marks)

Demonstrates limited or no attempt to engage audience.

Interacts with audience to promote engagement using some effective techniques.

Interacts with audience using effective techniques that promote consistent engagement.

We have chosen t shirt as product...cotton t shirt manufactured in Bangladesh exported to Nepal and modified with Dhaka(a type of Nepali cultural cloth) and then will be exported and targeted for Australian market in cheap price compared to Australian market( shopping mall like Big W, K-mart and so on).

Answered Same DayFeb 21, 2020

Solution

Arun answered on Feb 24 2020
54 Votes
STRATEGIC PLAN 7
Strategic Plan
Table of Contents
Introduction    4
Red ocean analysis    4
Blue ocean analysis    8
Long term and short term objective    11
Strategy implementation    11
RBV and VRIO    11
Conclusion    12
References    13
Introduction
The report aims to analyse the market opportunity prevailed for the cotton t-shirt in the Australian market. The T-shirt manufactured in the Bangladesh and modified in Nepal is planned to be exported to the shopping malls. Therefore a red ocean and blue ocean market analysis are performed. The report concludes with findings and recommended strategies.
Red ocean analysis
The red ocean is an existing market place where the boundaries of the industries are set and it is a known market place. The red ocean market defines the industry boundaries and these are well accepted. The competitive laws of the market place are also known. Therefore, the companies here try to smash competitive activities to grab a greater market share. But when the market space is crowded by the companies, opportunities shrink and therefore cut-throat competition prevails. These characteristics are common to the red ocean market. Therefore, in this line, the existing market of the Bangladesh exports to the traditional market such as Europe and U.S. is taken into deliberation.
The analysis of the market of the USA reveals that the country export of cotton product is not upgraded significantly. But even thereafter, the Bangladesh exporting of cotton products to the USA has been significantly increased. The analysis also reveals this fact that Bangladesh product offering is not diversified as compared to the India and China. Therefore, company initiative to target Australia where the contribution from Bangladesh is minimal is justified. Another factor that cu
ently plays a disadvantageous factor to Bangladesh export is lead time that is comparatively higher that India and China. It takes still 90-120 days for woven garments. The time taken for knit-garment products is 5-60 days as the data of 2005 suggests. The analysis of Bangladesh export suggests that it is gradually becoming a middle and high end producer. The findings suggest that to establish a strong foothold in the market-place lead time must be reduced and for this purpose, the country Australia is considered to export the product cotton t-shirt.
The price of cotton t-shirt in Australia comes at a price of 8 dollars (Justshirts, 2018). But the price of cotton t-shirt is generally between 0.90 to 6 dollars (Alibaba, 2018) that is comparatively much cheaper than t-shirt price charged in Australia. Therefore, the existing market opportunities in Australia for Bangladesh product are great. Another advantage for the Bangladesh product to the Australian market is economic of scale in production as the cheaper labour in Bangladesh is in abundance and the labour cost saving makes Bangladeshi product a very attractive one for the retailers and retail stores.
The existing market of Australia clothing industry reveals these facts. The clothing retailing industry that is being planned to sell product by the company faces many challenging years. The higher rent as well as intense competition prevailed in the market, mars the profits of retailing companies. The industry revenue is though expected to grow at an annual rate of 3.7 percent till 2017-2018. This fact signifies that a cheaper alternative such as t-shirt may be highly welcomed by the Australian retailers. The online presence of retailing companies also has spurted the growth on clothing industry. The market statistics of clothing industry reveal revenue of 20 billion dollars, annual growth is 3.7 percent in the period of 2013-2018, employment offered is 111,607, and the total businesses thriving there are 11, 410. These statistics show a big market and good potential for growth.
The weaknesses of Australian clothing industry serve great opportunity for the company. There is a widespread uncertainty regarding economic development that makes consumers to spend cautiously over clothes purchasing. This fact is great motivating factor as the customers look for cheaper alternatives. The company plans to provide quality products matching with quality standards of Australian clothing industry and therefore, the company can reap great benefits by introducing an economic yet quality product to Australian retail stores.
The industry slowed growth predicted till 2022-23 suggests that the retail companies are fighting in a matured market and therefore, they can attract customers by offering more discounts on the product. Therefore, the company may be asked to provide greater delivery of products to the Australian market. as the IBISWorld suggests that most important aspects to gain success in Australian cotton retailing industry are clear market position, ability to manage stock and superior financial management as well as debt management, (IBISWorld, 2017) the company may serve the retailing companies to achieve these success factors. It can assists the retailing stores to manage a clear market position in terms of selling cheaper and quality products to the Australian customers and can leverage the management of stock due to shorter distance from Bangladesh to Australia.
The product that is being offered is a customised solution, and therefore, the fashion in Australia towards the t-shirt and other clothing products are taken into account. The people of Australia generally prefer quality and therefore, the bargaining power of the companies is reduced. It suggests that the people prefer quality products as well as economy. The trends are clearly visible by purchasing of customers who prefer products in low prices (Technavio. 2016). More than half of customers in Australia prefer to purchase from discount stores. They also do not have inclination to store the products and this have resulted in multiplication of independent and convenience stores in the small town and subu
s. Another report also suggests that the market growth is shrinking. The retail sales was reduced in last December when buying was generally considered at on the peak (Robertson, 2017). What this reflects is a need of cheaper...
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