Writing Details of how the business is to be financed for the plan
– read the plane carefully, then write Details of how the business is to be financed (Describe how the venture will be financed and clearly demonstrate what the money will be used for etc.) for the plan in the file attached.
– use of Harvard Referencing
– 800 words
As the wireless communication industry has rapidly grown over the past decade with the market with global market doubling roughly every other year. Much of the growth in the market has been due to the public demand and competition in the telephone sector (Li et al. P. 545). The increased demand and competition have been facilitated by technology in the market. Rapid technologies allow organizations to produce and manufacture more advanced products. In order to cope with the competition and meet the demand of the customers, the company aims at producing a chip. The aim of disrupting the production process and launching a new high growth potential product is to increase the speed and capacity of the mobile phone in the market.
The marketing strategy will be based on ensuring that the mobile phone and tablet users are able to have a product that will increase speed and capacity. Therefore, an in-depth analysis will be undertaken to effectively understand the need of the customers. This will allow the management to have a detail of how to design and develop the product that will effectively meet the needs of the target customers. However, to effectively launch the chip and ensure that it is in the market, the management has to allocate enough resources. A successful launch of any product creates significant benefits for the company. This launch will also build anticipation and market awareness for the new chip. Creating a successful product launch requires planning and coordination across many departments throughout the company due to the level of complexity.
The proposed product to be produced is a new top-end chip for tablets and smartphones. The chip is known as the e-Rick core chip. The main aim of manufacturing this chip is to ensure that speed is attained and also the capacity of the mobile phone offered in the market. According to the specification of the chip, it promises 20 % higher performance through increasing the speed and capacity of the mobile phone. The biggest improvement is the performance as the so-called E- Rick core chip will have a Snapdragon 865 Plus’ central processing unit with a clock frequency of up to 3.1 gigahertz. This will, therefore, ensure that the mobile CPU crosses the symbolic 3GHz mark. On the other hand, the chip will be tuned up to the onboard graphics processing unit, thus giving up a 20 % speed boost.
The company is trying to tighten its grip on the high end of the smartphone market. This will allow the company to take advantage of the market by introducing a new technology that is believed to breathe new life into the smartphone segment which has been stagnant for a while (Korkmaz, & Yaşar, 2020. p. 50). Moreover, it is expensive for the customers to afford handsets with wireless technology inside. Therefore, with a chip inside the smartphone and the tablet, it will be affordable as the cost will be cheaper.
The E-Rick core chip will boost other several key smartphones and tablets use cases. One of the cases that will be improved is the video messages by the users. The chip will be equipped with Snapdragon 865 Plus. It is a system that has an “extremely high-performance AI” and “Gigapixel camera support.” Another case that will be improved by the E- Rick core chip is the gaming apps in the tablets and mobile phones. The chip will have the ability to render video games at a rate of up to 144 frames/ second. This means that the users will be able to use the game app at a favorable speed which is the main reason why users fail to install video games on their phones. With the chip, it will also be possible to add Bluetooth dual antennas, an advanced audio codec, and new BLE features. The combination of the three features can bring out clear and sharper audio for the phones.
Additionally, the new chip will also double the speed of the WI-FI connections compares to the former flagship product. The new chip is an improved version of its top-end chip for flagship smartphones, which is used in the market. Here the speed will be up to 3.6 gigabits per second as the chip will use the 6GHz frequency band. The 6GHz frequency band triples that or airwaves space which is available from the WIFI use. With the increase in internet usage in the global environment, smartphone customers will want a phone that will increase the speed of using WIFI as they want to attain information (Li, Zhang, Feng, et al.2019. P545). The E-Rick core chip will increase efficiency in the use of smartphones as it also offers data transfer. By allowing the phone to transfer data over the range of bands at the same time speed up the connection. In the near future, the chip will be incorporated into the Apple watches, laptops, and tablets.
We live in a globalization world and we aim to compete globally with other competitors, but we want to start localizing our product in the market first (Gbadamosi, 2013). Choosing a target market is a process to create and deliver a value to the customer (Gbadamosi, 2013). We aim to deliver a valuable product to our customers, and it is one of our goals to enhance the consumer experience with technology.
So, our target market is users of technology who does not want to change or buy a new mobile phones and tablets because of the capacity and speed issues. According to (Malhotra, et al., 2009) global market is a risky market due to the distance factor which we don’t have because our product can be download on the consumer’s device. However, there is a small risk on the after-payment services that it might not work over the calls or emails and there is always a risk with geographic distance in global market (Malhotra, et al., 2009).
Our target customers are adults’ users of any type of technology, for now we are targeting mobile phones and tablet users, our technology could be used on any type smart phone. It is our goal is to enhance the consumer experience with technology. There are many social media platforms that companies use to plan and implement marketing strategies (Pradiptarini, 2011). In addition to that, gaining advantage of social media and use analytics tools to help targeting the right customers. According to (Fan & Gordon, 2014) social media analytic is a process of three stages, the first one is capture which involves collecting data by monitoring and archiving any relevant social media data this leads to the second stage understanding the selected and relevant data and removing the unimportant data and analyze by using analytic methods, last stage which called present deals with showing the results and surmise of the analytic. These technics and tools would be useful for future evolution of our product. One of the most popular and used tool is Google analytic and UTM parameters these tools complete each other, and it is a big tool in providing data and understanding the digital performance of the product (Clifton, 2012).
There are different definitions of marketing strategies. For example, (Baker,1984) defined marketing strategy as “the establishment of the goal or purpose of a strategic business unit and the means by which it is to be achieved trough management of the marketing function”. In addition to that, most business succeed because of good implementing of the marketing strategy and it is mostly relying on the research department (Thorpe & Morgan, 2007). We have a sustainable competitive advantage because our product is a new product to the market and it has an effective performance and will attract more customers (Morgan & Hunt, 1999). Moreover, we want to be the lead on the technology industry and according to (Morgan & Hunt, 1999) our strategy must be built on a sustainable source to maintain our customers. Our focus would be on digital marketing because it is a transformation way of communication with customers and many people use social media such as, Instagram, Twitter and LinkedIn every day and by engaging with our target market and take opportunities of these platforms (Chaffey, 2019). Most of our strategy would be focused on advertising and leverage influencers that are mostly specialized in technology. For example, in Mena region Abdullah Alsabe (@7alsab) and in the US Marques Brownlee (@MKBHD) those two would be a perfect influencer to introduce the new technology and promote it. and it will help the product to be known by the word-of-mouth (Chaffey, 2019). In addition to that, we chose a catchy name to help with the word-of-mouth marketing strategy “e-Rick Core Chip”. Also, we aim to create awareness of the brand and product so we would be using advertising on social networks and different sites like YouTube and LinkedIn. Lastly, we are planning on being part of exhibitions and conferences such as, Techpoint Build, Baoan Industry Development expo and Intersec. It will take more planning due to the complexity of current pandemic and part of our marketing is to promote the product to be used in different technology like smart watches.
Emphasis will be placed in the design of this product on reducing the need to use materials to preserve the environment, and the product aims to improve and extend the life of the device to enable more extended use of the capabilities of the device
The information about the program / electronic chip will be stored in the application / electronic chip hardware, and a bar code will be sent to the subscriber to obtain a license to operate the program/chip in the target device. Then the program will be installed on the device
The download technology will be adopted similar to the current eSIM technology, due to the reduction of reliance on plastics and materials. It shortens to download the program on the device to permanently improve the performance to extend the life of the device for the most extended use, “Sustainability or sustainable development has become a significant and major research area these days (Zhen et al., 2015). The challenge of realigning the current development path on a sustainable trajectory concerns all sectors of society, including engineering and manufacturing (Rosen and Kishawy, 2012). Manufactured products impact all three facets of Sustainability; economy, environment, and society throughout their entire life cycle; material extraction, manufacturing, transportation, use, and disposal (Tarne et al., 2017). It was found that about 80% of sustainability impacts are decided at the product design stage (Keoleian and Menerey, 1993; Kulatunga et al., 2015; Lewis and Gertsakis, 2001). To address this issue in the manufacturing sector, designing and producing sustainable products was an important strategy to achieve Sustainability (Moreno et al., 2011; Ameli et al., 2016) and leaner production objectives. Thus, considering the triple-bottom-line concept (Hacking and Guthrie, 2008; Hall, 2011) in product design, Sustainability can be defined as the ability of a product to work continuously while ensuring the lowest environmental impacts and providing economic and social benefits to the stakeholders”. (Shamraiz Ahmad, 2018)
This technology may be used in other ways or in various forms, which reduces the market resistance of the product due to the presence of few but similar products that have gained popularity, which supports and encourages the use of the idea, but in a more innovative way.
The increasing demand for high performance and multiple functionalities in electronic systems and devices presents significant challenges in their thermal management. Conventional air-cooling techniques are reaching their limits for applications in areas such as cost-performance and high-performance electronics. (H.Y. Zhang, 2005)
A large volume of waste from electric and electronic equipment (WEEE) is generated worldwide annually, being the fastest growing waste stream in the last years, growing at a rate three times higher than average municipal waste. (Sílvia Pinho, 2018) Therefore, care has been taken to provide a well-cooled place for the application/chip servers, To avoid damage due to overheating or lack of adequate ventilation and reducing the residue.
The collaborative computing engine can effectively improve the resource utilization of large-scale heterogeneous clusters and ordinary developers’ programming efficiency. In spread spectrum measurement and control, the performance of measurement and control mainly depends on pseudo-code. At present, the spread spectrum codes used in the spread spectrum measurement and control system mainly include the M sequence and Gold sequence. (Zhao, 2020)
The transfer of information in this project will be relied upon instead of manufacturing and selling chips, as is usual in such matters, and sending codes to clients through the program for the installation process, which continues to require updates to improve performance and face security threats, if any.
The program will work according to the following method:
Work will be updated continuously by the application team for security risks and bridging the gaps expected to occur with future hardware changes, according to our expectations.
Work has also been done to include updates with alerts to be reminded of them and send that to the central server to work on them in an automated manner and synchronously with any update on future operational processes.
A version compatible with devices running on the Android system has been made due to its prevalence and application ease. Work is underway to develop the application / electronic chip to work on devices that run the IOS system and other drivers.
In general, the most important note that can be recorded is the importance of keeping updates available to properly serve the customer and help extend the device’s life so that the customer can make the most out of his smartphone. This project’s main point is to make the most of the smartphones for customers who want to extend their validity and make the most of them, especially concerning pictures, files, documents, and personal attachment.
The venture capitalists are always looking for a balanced team, so it is vital in business plans to clarify the team’s strengths and weaknesses. Not only this but also any of the consultants from outside the business must be integrated. The positions of individuals in the management team are not the only important thing, but their education backgrounds their skills in which they can employ to the business, and at the same time their experience in this field through which they will launch their business in. identifying the weaknesses in the team and then determining how the team could overcome these weaknesses will make the venture capitalists feel more secure (Dingee, et al., 1995). The diversity of the team is important especially for a management team whose goal is to produce innovative ideas, as studies have shown that team diversity can have a positive impact on creativity, task reflection, and information sharing, which then leads to higher innovative outcomes. And this diversity could be either by age, gender, and race. Or practical experiences and academic background. As this generates different perspectives and synergies across the business, which in turn stimulates innovation in the management team (Talke, et al., 2010).
Rick core chip is a partnership of five full-time employees. This business is a technical business that requires a lot of innovation and creativity that needs diversity in the team, and this is what we have in our team. We are aware of the gaps we have that we have overcome through external counseling، by hiring legal and technical consultants to fill the gap of lack of experience in these two fields.
|Salwa Alkthami||· BA Languages and translation.
· MSc Business Administration- Entrepreneurship.
|· Administrative Assistant Eshraqt Alemar Construction.
· Customer Service and Sales CTC.
· Chief Sales Officer Assistant Elite Insurance 8 Reinsurance Brokerage.
|Public Relations Manager|
|Raghd Alsowayna||· BA Languages and translation.
· MSc Business Administration- Entrepreneurship
|· An interpreter of meetings and visiting delegations as Ambassador for Princess Nourah Bint Abdulrahman University Rector’s PR department.
· Leader & Head of Internal and External Affairs in the Multilingual Club at PNU.
· Teach English language in Multilingual Club, at PNU and outside.
· Translation Consultant & Editor in Translation Unit ِat College of
· languages, Princess Nourah Bint Abdulrahman University.
· Leader of publishing department in KSA In All Languages
|Albandry Alotibi||· BA Languages and translation.
· MSc Business Administration- Entrepreneurship
|· Projects Manager in The Deputy of Labor Affairs – Ministry of Human Resources & Social Development. · Deputy Director – General for planning, follow-up & strategic projects in The Deputy of (16th
· General Manager in Family Affairs Council – General Secretariat · Projects/Program Manager in MHRSD’s PMO – VRO. Running 5 projects for the Customer Service deputy; 2 of them are part of the Digital Transformation Program. Beside, 2 Controlled Saudization programs that are part of The National Transformation Program 2020 of Saudi Arabia’s Vision 2030.
· Labor Forces Researcher in Development of Women’s Work Environment Department – Ministry of Human Resources & Social Development. Working on administrative tasks, training employees & university students, & coordinating initiatives. Responsible of the department’s key performance indicators (KPIs).
|· BA Business Administration.
· MSc Business Administration- Entrepreneurship
|training in Wa’ed, Aramco’s entrepreneurship||Manager of the Development and Training Department|
|Norah Almagied||· BA psychology.
· MSc Business Administration- Entrepreneurship
|· Psychologist for people with special needs, Center for Human Development.
· Kindergarten teacher, Kingdom schools.
· Human resources employee, Ministry of Interior.
|Human Resource Manager|
Management Team Gaps:
We need a full-time professional who can deal with the problem that may occur legally and technically. We have reached the help of legal and technical consultants to fill this gap.
Human Resource Plan:
A human resource plan includes an increase in the number of employees in each of the marketing, technology, and public relations department. While maintaining our relationships with the current outside legal and technical consultants.
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