The Business of IT- Venture Report

The Business of IT- Venture ReportProject descriptionThe field of study is IT; but the subject is The Business of IT. This report is a venture report about a suggested type of business. It?s about making a business, and creating an app that targets dog owners, pet shops, and dog-related business. Please refer to the assignment document. Also, I?m attaching the lectures of this subject.Every dog has its dayMike Young was contemplating his move from one side of Brisbane to the other while walking Snow, his Siberian Husky, in the local park. After a week he had kind of figured out a local route and Google Maps prevented him from getting lost. But he wondered if there were no nicer routes or other, longer router for during the weekend. Mike was feeling like a coffee, as he used to occasionally have on his old route. He wondered if the local coffee shop he past was as dog friendly as his old coffee spot. Mike started playing with his new phone, a Google Nexus 5. He searched for the coffee shop, but couldn?t find any information. Other dog owners must know, he thought, but he didn?t see any other people walking their dog at this time of the day. Then Mike started to think bigger. What if it would be easy to find out where every dog friendly coffee shops and restaurants was in a neighbourhood, maybe with recommendations and reviews? A kind of UrbanSpoon for dog owners? Finding out new and interesting places to go and activities to do with your dog over the weekend complemented with information on walking routes, parks, etc. Mike had his vision: CityDog. An app for organizing and managing varied and interesting activities with your dog. Driving on to work at his application development company, Mike decided it was time to stop developing for others and put out a product of their own. He called in his top three people: Brad Willis (technical architect), Helen Daniels (graphic designer) and Scott Robinson (head of sales and marketing). He put the idea to them and asked them to think about it for a couple of days and then they would sit down on Friday and sketch out a plan. Scott, being the proactive type, went out and canvassed some friends of his in the pet care business to see whether this idea was worth pursuing. He came back to the Friday meeting with some very positive feedback. Why stop at coffee shops and restaurants? Pet shops, dog groomers, pet attractions, etc. could also be included in this type of service. The people I spoke with were keen. And maybe the providers of pet products could be interested too? Moreover, there is also the option of local advertising, which seems to be a growing trend for mobile applications. Mike also had some ideas. We can provide information and reviews about local parks, coffee shops and restaurants, and special dog related attractions and events. Wecan also suggest walking routes and maybe connect dog owners for joint walks and activities and report a lost or found dog. And maybe also let them share photos, possibly even adding funny texts which seem very popular on Facebook? And by the way, CityDog, is not a name I particularly like so any ideas for change is welcome. Helen chipped in? We can even let people track their walks over time and use game elements such as setting goals and earning points, like a fitness app for dogs. And maybe let them store some information about their dog like vet visits and vaccinations? Moreover, we may provide some special information like medical and dog care in case of emergencies during a trip. Brad, however, was the kind of guy who always found the work to be done, once the enthusiasm had worn off. Don?t forget we have to not only build the front and back end but also get the right content. We may also need a website in addition to an app. And there are a couple of platforms for which we may have to develop. They decided to meet the following Friday to decide whether this idea was worth pursuing. At the next meeting, Scott reported some market research into the pet care industry. According to the Australian Companion Animal Council (ACAC) there are an estimated 33 million pets in Australia. In 2009 there were 3.41 million dogs with 36% of the just over 8 million households owning a dog. This means at average 16 dogs for every one hundred people. In 2009 consumers spent AU$6.02 billion on pets, pet care products and services. Spending on dogs accounted for almost 60% or AU$3.6 billion. Dog related expenditure has grown by 31% since 2005, with the average dog owner now spending AU$1,056 per year on their pet. If we somehow could get a slice of this market then the app could become very profitable. Moreover, there is a huge Asia-Pacific pet care market, which grew by 4% in 2012 to reach a value of US$11,325.3 million according to MarketLine. Dog care is the largest segment, accounting for 43.8% of the market?s total value. Japan accounts for 50.8% of the Asia-Pacific pet care market value. However, the Asian market may be hard to tap into?Helen always had the interesting insight that artistic types have. What about providing the app in different languages? While it is a nice extra for the Australian market, it will be a must if we consider expanding internationally. Mike Young wrapped up the meeting with the following. Ok. This is a good idea but we need to run for a 3 month trial to see whether we can build a business model that will make money, is doable, and will catch on in the marketplace. We will work as a team to further develop the product and the business model and present it to my venture capital friend from Ramsay Capital, Shane at the start of April. He always insists that the presentation is in a particular format set out in the attached email. Get to work!Assessment 2: Case Study BGoing for the top dog appApril started nervously for Mike Young. After working hard to put together the CityDog slide deck with his team, he was now eagerly waiting for a reply from Shane Ramsay. It didn?t surprise him that he didn?t have to wait long, knowing the go-getter Shane is. Shane?s reply put a big smile on Mike?s face. ?Go for it mate! It looks very promising and I will be able to put in 30,000 AUD for an equal share of the firm as you and your partners. I assume that this seed funding can get you through the first three months. I have a lot of trust in your highly qualified team. If you all can put in your time then this can really take off. Before you get started, it will be a good idea to have an in-depth discussion to strengthen the business model. I am thinking of a short, informal presentation of your slide deck to me, my team and some experts I will invite. Please contact my assistant for an appointment end of April or early May. Late May I expect a report that I can share with the board of Ramsay Capital to discuss further funding of this venture to enable you to expand in the future.? Mike couldn?t wait to contact the team. He appreciated Shane?s support to further develop the business model as the investor?s knowledge and contacts is often as important as the money for the success of a new venture. He expected that 3 months should give them the time to develop a first version of the app, test it with some trial users and lay out the plans for the marketing and the organization. However, he also knew that if he wanted to convince the board of Ramsay Capital, he had to present a competitive analysis and a SWOT analysis based on solid research and critical and analytical thinking. In addition, the marketing and financial plans will require quite some more details. That same evening he met with Brad, Helen and Scott. They were all keen to start the new venture and happy to hear about Shane?s support. Moreover, they could make themselves full-time available in the short-term as they had negotiated 3 months of unpaid leave with their employer. After that they would also have to make their own go/no go decisions. Brad and Helen would focus on the software development and user trials. Brad hoped the money could buy them some extra development capacity. Scott needed to focus on the marketing and sales side of things and Mike could address the strategic and organizational issues and make sure the financial aspects were taken care off. But most importantly, they recognized that for success they needed to work as a team so everyone would contribute to the different areas when required.Page 1-6Assessment 2: Case Study BMike also discussed the business model presentation that Shane had asked for. They all agreed that this was a great opportunity requiring little effort as the slide deck had already been developed although they may update it based on their advancing understanding. They agreed that if the business model was not well articulated and thought through the next three months would be a waste of money and effort. Moreover, the business model would also be the foundation for the report they had to deliver to the board of Ramsay Capital. Scott suggested it may be a good idea to get some clarity about the content of the report. He grabbed a marker and a flipover and they started discussing a rough outline for the report: ? Vision, Mission, Goals and Objectives ? Business Model ? Strategy ? Competitive analysis ? SWOT Analysis ? Marketing ? Organisation Structure ? Technical Architecture ? Plan of ActivitiesScott concluded that this should provide them with a good foundation for the report. Mike agreed that this looked solid but that its development would take time as it needed to take place iteratively because the different parts are highly interrelated. Brad suggested that it would be good to confirm the outline with Shane. Helen added that this may be done after the presentation. This seemed like a good idea to Mike and then they could add a bit more detail to what each section should contain.Page 2-6Assessment 2: Case Study BFrom: Shane Ramsay [mailto:[email protected]] Sent: Tuesday, 29 April 2014 3: 31 PM To: A Mike Young Cc: Dan Ramsay [mailto:[email protected]] Subject: The venture proposal report Hi Mike, Great presentation by your team! I hope the feedback was useful. You asked me for some input for the venture proposal report. Your outline looks okay to me; it is the usual stuff one would expect. I can give you some more detail, but it is in the end your decision what to include as you are a keen business acumen and you know best what is relevant for the new venture. For the objectives, focus on the first year. Use the Business Model Canvas (both figure and text) and make sure it is more than just a long description of separate elements. Your strategy should clearly show how you differentiate yourself, what other strategic options you may use and what strategic capability (unique resources and core competences) you are developing. For the competitive analysis, address 2-3 other startups that you see as your main competitors as well as 2-3 dog apps that are already available. Make sure your SWOT is not a long list of vague statements (you can put a prioritized version of the long lists in an appendix). I am more interested in an evaluation of the most important factors and the confrontation of internal and external factors. You should cover digital marketing by presenting the different steps and addressing some success measures. Describe in the plan of activities what you actually will be doing, in particular in relation to software development, marketing and operations.I expect a comprehensive, professional report. You know I don?t like strict guidelines on number of pages and words. But just as an indication, I would expect that main content can be covered in 10-12 pages with about 450-500 words per page (without the figures). My assistant will provide you with some details on how to electronically submit it. If I don?t have it by then don?t bother. You know how I hate lateness. Regards, ShanePage 3-6Assessment 2: Case Study BMarking CriteriaCriteria/GradeScales 20 10High Distinction100%-85% 20-17 10-8.5Distinction84%-75% 16-15 8-7.574%-65% 14-13 7-6.5Most elements applied properlyCredit64%-50% 12-10 6-5Some elements applied properlyPassNot pass<50% <10 <5Mission, Vision, Goals & Objectives Business Model10All elements applied excellently. Consistent with the rest of the material. Insightful and suitable business model showing superior awareness of key issues. Strong evidence of independent and original thinking and reasoning. High quality strategy excellently addressing differentiation, strategic options and strategic capability. Incorporates original ideas. Extensive research on competitors. Comprehensive investigation of critical facets of competition. Analysis very well constructed and articulated. Extensive research on elements. All 4 elements applied excellently, including confrontation. Analysis very well constructed and articulated.All elements applied properly Consistent with the rest of the material. Informative and suitable business model showing strong awareness of key issues Evidence of independent and original thinking and reasoning. Good quality strategy properly addressing differentiation, strategic options and strategic capability. Attempts to incorporate original ideas Good research on competitors. Solid investigation of critical facets of competition. Sound analysis and articulation. Good research on elements. All 4 elements applied properly, including some confrontation. Sound analysis and articulation.A weak attempt to portray these elements20Clear and suitable business model showing awareness of key issues. Some evidence of independent and original thinking and reasoning. Reasonable quality strategy addressing differentiation, strategic options and strategic capability. Some attempt to incorporate original ideas Creditable research on competitors. Sensible investigation of critical facets of competition. Reasonable analysis and expression. Creditable research on elements. 3 elements applied properly. Reasonable analysis and expression.Basic business model showing awareness of some of the key issues. Little evidence of independent and original thinking and reasoning. Basic strategy addressing differentiation, strategic options and strategic capability. Little or no attempt to incorporate original ideas Basic research on competitors. Basic investigation of critical facets of competition. Underdeveloped analysis and expression. Basic research on elements. . 2 elements applied properly. Underdeveloped analysis and expression.Business model not suitable and/or showing little or no awareness of key issues. No evidence of independent and original thinking and reasoning. Discusses strategy in general terms and/or not addressing differentiation, strategic options and strategic capability. No attempt to incorporate original ideas. Scant research and/or investigation.Strategy10Competitive analysis20SWOT Analysis10Little analysis and/or unsatisfactory expression. Scant research on elements. 0-1 elements applied properly. Little analysis and/or unsatisfactory expression.Page 4-6Assessment 2: Case Study B(Digital) Marketing Organisation Structure Technical Architecture Plan of Activities20101010High quality marketing plan addressing all the steps excellently and comprehensively, including appropriate measures. Insightful and suitable structure populated with names / roles. Consistent with the rest of the material. Excellent technical architecture covering all aspects and addressing how it will be delivered and developed. High quality detailed plan of activities for the venture. Consistent with other materialsGood quality marketing plan addressing all the steps properly, including relevant measures. Informative and suitable structure populated with names / roles. Consistent with the rest of the material. Appropriate technical architecture covering most aspects and addressing how it will be delivered and developed. Good quality detailed plan of activities for the venture. Consistent with other materialsReasonable quality marketing plan addressing all the steps properly Clear and suitable structure and populated with names / roles. Reasonable technical architecture covering some aspects and how addressing it will be delivered and developed. Reasonable quality (achievable, credible, coherent) detailed plan of activities for the ventureBasic marketing plan addressing most of the steps properly. Basic structure populated with some detail.Poor marketing plan and/or a weak attempt to portray the steps. Discusses structure in general terms.Technical architecture covering some aspectsA general discussion of possible technical approaches. Poor plan of activities and/or insufficient detail or evidence to scoreBasic plan of activities for the venture with some detail.Report(Presentation and English convention)20Presenting your proposal in a well organised and very polished format. Fluent, professional style and tone of writing. Adhering to English conventions with no errors.Presenting your proposal in a well organised and polished format. Tone and style of writing are fluent and professional. Adhering to English conventions with a few minor errors.Presenting your proposal in a well organised format. Tone and style of writing are mostly fluent and professional Adhering to English conventions with several errors.Presenting your proposal in an accessible format. The tone and style of writing are informal or conversational. Adhering to English conventions with major errors.Disorganised or incoherent writing. Inappropriate vocabulary, style or tone for professional writing. Mostly adhering to English conventions with a large number and/or severe errors.TOTAL160Page 5-6Assessment 2: Case Study BAdditional assignment instructionsReport We expect you to submit a professional report, this includes title page, executive summary, table of content, graphics (tables, graphs, illustrations), references (APA) and, if required, appendices. Keep in mind that in the end you write a total proposal, not individual chapters. So make sure you produce an integrated story instead of parts being put together and make sure you are consistent. The occupational writing style of the venture proposal is business, but it is OK to have a start-up feel (slightly informal). The audience is usually potential investors (who will have some knowledge of your area) and potential employees. It should be readable and understandable for an outsider. Jargon should be avoided.Order for a custom written PAPER now and one of our online writers will write your assignment from scratch within your deadline! Category: Essay Writing

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