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ENTREPRENEURESHIP

Extracts from this document...

Introduction

Prepared By: Darshit Parekh 94 Palak Shah 104 Ushma Mehta 91 Shweta Patel 100 Jimit Khirani 85 ACKNOWLEDGEMENT First of all I would like to take this opportunity to thank the Mumbai University for having projects as a part of the B.M.S. curriculum thereby giving its students a platform to keep abreast with the changing business scenario, with the help of theory as a base and practical as a solution. With great pleasure I thank Prof. Dipali of BMS Faculty at Usha Pravin Gandhi College of Management under whom we have initiated the work for being an inspiration in the completion of this project. I thank her for the invaluable help provided during the completion of this project and for providing me guidance and numerous suggestions throughout the entire duration of the project. This project has deeper insights in entrepreneurship management, which will help us in the future. Index SR.NO TITLE PAGE NO. 1 Company profile 5 2. Introductory Capsule on the technology 7 3 Introductory to holographic data storage 12 4 Product Innovation 13 5 Feasibility Analysis 16 6 Business Strategy 20 7 Marketing Strategy 22 8 Technology Improvement 24 9 Business Plan 26 10 Distribution Strategy 33 11 Market Research 35 12 Swot Analysis 37 13 Business risks and strategy imperatives 39 14 Conclusion 40 Company Profile Inbound Technologies Ltd., a company which is innovating a new storage device called, Holographic Storage Device which has the capacity to store 1 TB data. Inbound Technologies Ltd. was founded in December 2000 with a venture with Moserbaer, with the objective of becoming the first company to bring holographic data storage technology to market. Through revolutionary techniques developed by a team of Bell Labs scientists, Inbound has solved several fundamental problems associated with holographic storage, including the creation of a viable storage medium, and the systems expertise required to record holograms. The result of more than five years of groundbreaking research in holographic storage has culminated in the Inbound media and drive. ...read more.

Middle

It is important for us to adopt a different strategy for the Indian market since the social environment of India differs from that of a western atmosphere. Thus, we shall introduce some new strategies so as to establish our self in the Indian market and develop a strong customer base. For the brand recognition by the people and building a good image among its users, we will have a tie up with Moser Baer, a world leader in the development and manufacture of removable data storage media. Moser Baer was incorporated in 1983, the company is today one of the India's leading Technology Companies and ranks among the top three optical storage media manufacturers in the world. It provides different range of products such as CD-Rs, CD-RWs, DVD+R/RW, Mini CDRs and Diskette due to which it has developed a good image in front of its users. The target group selected by us would be huge companies, businessmen and employees working in these huge companies. The reason for selecting these people as the target groups would be because these days companies usually have a database of around 2 tera bytes. 1 such CD with a storage capacity of 1 tb would solve their problem of storage of information and handling different hard discs for the same and time is one of the most benefiting the general people without getting into the problem of purchasing another ROM since it works on DVD ROM also. CD would be the most convenient for them to handle and is also cost effective and speedy than the hard disc or any other medium of storage. The other target group would be the young generation today that likes to keep a huge collection of movies, music albums, videos, games and pics. They can even use it for storing their projects and other important data Marketing Strategy * Product Promotion * Advertising - We will advertise the CD through Television media, hoardings and using the print media such as newspapers and magazines. ...read more.

Conclusion

Storage size - The size of the storage is a huge advantage & it would revolutionize the way people store their data 2) The high transfer speed of holographically recorded media will create a quantum leap in media storage technology 3) User - friendly 4) Convenience 5) can increase drive reliability, 6) reduce operating temperatures, 7) reduce power consumption, 8) reduce noise, and 9) Reduce weight." Weaknesses: 1) Can be easily damaged through scratches, etc 2) Costly 3) Since even the CD- ROM is costly, again it'll be a setback for customers. Opportunities: 1) Large buyers like studio, radio, software industry, etc can be the immediate target markets. 2) A large opportunity lying for this market, as currently, it has no competitor. Threats: 1) From future technology 2) From other storage devices in parallel lines like; hard disk, U.S.B, etc BUSINESS RISKS & STRATEGIC IMPERATIVES Potential risks involved in this project are [1] Regulatory measures such as tentative frequency band allotment [3] Incorrect branding and targeting [4] Availability of suitable wi-max enabled mobile products in India [5] Inaccurate cost/revenue figures due to lot of assumptions owing to lack of real data [6] Willingness of user to pay for security and luxury products [7] Inadequate financing structure, debt equity ratio etc. Possible Steps to minimize risk are [1] Spread the risk amongst various players to ensure loss is distributed amongst players. [2] Lobby with government to grant license for required frequency bands [3] Work in collaboration with mobile device manufacturers to ensure these devices are available in India [4] Exhaustive market research on sms/mms/gaming/add-on-services usage across mobile users [5] Financial modeling to ensure a ideal equity-debt ratio and raising money through right methods. Conclusion * On all these factors, the product that is innovated by Inbound Technologies Ltd. will be quite less competitive. * This will be of great use for corporate sector in more as compared to other sectors like educational institutional etc... * The competition will arise on the introduction of such devices by other companies in near future since six other companies have declared about them launching the same product. ...read more.

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