This project was done in effort to complete my Certificate of Entrepreneurship and Innovation at Purdue University The assignment asked students to take a current problem of today's world, and provide solution that could scale. The solution created is called Pro - Tech. Pro-tech is a company that insures smart devices so our clients can use them, when they need them the most. Where most smart devices can be expensive and extremely difficult to fix when looking to major cell phone providers for help, Pro-tech will make insurance and trouble shooting for these devices easy and accessible to all.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
Renault-Nissan Strategic Alliance, Case AnalysisRamin Navvabpour
-An analytical approach to define Key Success Factors of the Renault-Nissan Strategic Alliance.
-Strategies, Goals, and achievements of Renault-Nissan Strategic Alliance
-How to eliminate distances in Renault-Nissan Strategic Alliance (the CAGE model)
- Tesla is an electric vehicle manufacturer that uses a direct sales model without third-party dealers, and offers services like remote vehicle monitoring and a supercharging station network.
- In 2015, Tesla's best-selling luxury sedan, the Model S, significantly outsold competitors like the BMW 6-Series and Mercedes-Benz CLS Class in the US market.
- However, Tesla vehicles are still mainly affordable only to high-income customers, and have a relatively low overall usage rate.
This document summarizes the evolution of ATH, a medical technology firm, from its founding in 1997 through changes in ownership and management in the 2000s. It describes ATH being acquired by Scepter in 2001, with earn-out clauses incentivizing growth goals. Management pushed for profitability in 2003 but quality issues emerged. In 2004-2005, they refocused on quality, customers, and balanced incentives. New management in 2006-2007 aimed to cut costs while improving quality and developing new products, obtaining an ISO quality certificate but missing some targets.
Amazon's European Distribution Strategy Case StudyYASSER ELSEDAWY
Amazon has expanded its global distribution network through warehouses located around the world. It started with 5 international stores before 2000 in countries with high online spending. It now has around 50 warehouses globally, with 20 in the US and rest in other major markets. Amazon aims to reduce response times through this expanded network. It also focuses on reducing costs through efficient inventory management and negotiations with suppliers.
Zara is a clothing brand known for fast fashion. It was founded in 1963 in Spain and opened its first store in 1975. Since then, Zara has expanded globally and now has over 2,000 stores in 96 countries. Zara's success is largely due to its ability to design and produce clothing in only two weeks in order to quickly respond to the latest fashion trends. It focuses on rapid production in small quantities, frequent store replenishments, and using its stores as a way to get customer feedback. Zara's core competencies include its vertical integration of design, production, and sales as well as its ability to quickly recreate fashion.
This document discusses startup "mafias" like the Revolut mafia. It notes that Revolut alumni have founded over 67 startups globally that have raised $451 million total. Revolut alumni startups tend to focus on fintech, gaming, streaming, travel, advertising, and delivery. The document argues that being part of a startup mafia provides benefits like wider networks, shared experience and values, access to talent and investors, and increased credibility that leads to higher success rates for new ventures. It envisions the Revolut mafia continuing to strengthen and expand Revolut's ecosystem and brand influence through supported alumni startups.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
Renault-Nissan Strategic Alliance, Case AnalysisRamin Navvabpour
-An analytical approach to define Key Success Factors of the Renault-Nissan Strategic Alliance.
-Strategies, Goals, and achievements of Renault-Nissan Strategic Alliance
-How to eliminate distances in Renault-Nissan Strategic Alliance (the CAGE model)
- Tesla is an electric vehicle manufacturer that uses a direct sales model without third-party dealers, and offers services like remote vehicle monitoring and a supercharging station network.
- In 2015, Tesla's best-selling luxury sedan, the Model S, significantly outsold competitors like the BMW 6-Series and Mercedes-Benz CLS Class in the US market.
- However, Tesla vehicles are still mainly affordable only to high-income customers, and have a relatively low overall usage rate.
This document summarizes the evolution of ATH, a medical technology firm, from its founding in 1997 through changes in ownership and management in the 2000s. It describes ATH being acquired by Scepter in 2001, with earn-out clauses incentivizing growth goals. Management pushed for profitability in 2003 but quality issues emerged. In 2004-2005, they refocused on quality, customers, and balanced incentives. New management in 2006-2007 aimed to cut costs while improving quality and developing new products, obtaining an ISO quality certificate but missing some targets.
Amazon's European Distribution Strategy Case StudyYASSER ELSEDAWY
Amazon has expanded its global distribution network through warehouses located around the world. It started with 5 international stores before 2000 in countries with high online spending. It now has around 50 warehouses globally, with 20 in the US and rest in other major markets. Amazon aims to reduce response times through this expanded network. It also focuses on reducing costs through efficient inventory management and negotiations with suppliers.
Zara is a clothing brand known for fast fashion. It was founded in 1963 in Spain and opened its first store in 1975. Since then, Zara has expanded globally and now has over 2,000 stores in 96 countries. Zara's success is largely due to its ability to design and produce clothing in only two weeks in order to quickly respond to the latest fashion trends. It focuses on rapid production in small quantities, frequent store replenishments, and using its stores as a way to get customer feedback. Zara's core competencies include its vertical integration of design, production, and sales as well as its ability to quickly recreate fashion.
This document discusses startup "mafias" like the Revolut mafia. It notes that Revolut alumni have founded over 67 startups globally that have raised $451 million total. Revolut alumni startups tend to focus on fintech, gaming, streaming, travel, advertising, and delivery. The document argues that being part of a startup mafia provides benefits like wider networks, shared experience and values, access to talent and investors, and increased credibility that leads to higher success rates for new ventures. It envisions the Revolut mafia continuing to strengthen and expand Revolut's ecosystem and brand influence through supported alumni startups.
Here are two views on whether effective use of BI software could be a competitive differentiator for Sysco:
1. It may not provide sustained differentiation. While BI implementation gives Sysco insights, competitors could easily obtain the same software capabilities. Once competitors catch up, the competitive advantage would diminish. Continuous innovation is needed to stay ahead.
2. Effective use could provide differentiation. Merely having the tools is not enough - it is how the insights are applied that matters. If Sysco deeply integrates insights into strategic decision making and customer relationships, it could gain an edge over competitors still learning how to optimize their BI investments. Sustained differentiation depends on how Sysco leverages its BI capabilities rather than just the
Finova Financial is a fintech company that provides affordable lending and financial services to underserved markets using blockchain technology. The company offers products like a Car Equity Line of Credit that is cheaper than competitors. Finova has financed over $7 million, generated $2.4 million in revenue in 2017, and has over $100 million raised from investors. The presentation discusses how Finova is transforming banking and introducing new ways to raise capital like a Jobs Crypto Offering that allows blockchain-based investing on public markets.
Cisco Systems is a large networking company founded in 1984 that generates over $40 billion in annual revenue. It has a dominant position in routers and switches with over 70% market share. However, competition from HP, Juniper, and others poses threats. Cisco's strengths include its strategic partnerships and acquisitions strategy, while weaknesses include lack of brand recognition in consumer markets and high prices. In the long term, Cisco aims to improve its position in consumer products and capitalize on opportunities in smart grid technology and cloud computing.
In April 2013, Procter & Gamble (P&G), the world’s largest consumer packaged goods (CPG) company, announced that it would extend its payment terms to suppliers by 30 days. At the same time, P&G announced a new supply chain financing (SCF) program giving suppliers the ability to receive discounted payments for their P&G receivables. Fibria Celulose, a Brazilian supplier of kraft pulp, joined the program in 2013 but was re-evaluating the costs and benefits of participating in the SCF program in the summer of 2015. The firm’s treasury group and its US country manager must decide whether to keep using the program and, if so, whether to keep their existing SCF banking relationship or start a new relationship with another global SCF bank.
This document provides information about Philips and Matsushita (later Panasonic). It discusses how Philips became a leading consumer electronics company through building national organizations around the world and focusing on innovation. However, it struggled with high costs as it outsourced more manufacturing. Matsushita surpassed Philips by producing low-cost, high-quality standardized products and being a fast follower. Both companies struggled with changing their cultures and structures as international companies.
Komatsu Ltd. has experienced unstable management under different leadership styles, including autocratic, diplomatic, and participatory. The company established a total quality concept under Kawai's leadership from 1964-1982 but saw stagnant sales under Tetsuya Katada from 1989-1990 as the construction equipment market declined. Tanaka focused on the domestic market and internationalization from 1987-1989 through pricing decisions. The case recommends Komatsu strengthen its domestic market position, implement more stable management, and diversify its product portfolio.
Lisa Johnson is the area manager for Citibank's Los Angeles area. James McGaran is the branch manager of Citibank's largest Los Angeles branch. Citibank implemented a balanced scorecard to evaluate manager performance across financial, strategy, customer satisfaction, control, and people measures. For James' first evaluation, he scored above par in all areas except customer satisfaction, which was below par. His overall evaluation was still above par given his strong performance otherwise and that it was the first year of the new system. Management advised him that he needs par ratings in all areas for an above par overall rating in the future.
Safelite Auto Glass is moving from an hourly wage system to a performance pay plan (PPP) to increase productivity. Under the new PPP, technicians and managers will be paid based on the number of windshields installed rather than hourly wages. To encourage higher productivity, the guaranteed minimum hourly rate will be reduced by 30% for technicians. Implementing the PPP with a smaller 10-15% reduction in the guaranteed rate is suggested to motivate employees while avoiding potential issues from too large a reduction. The PPP is aimed at increasing the number of windshield installations per week through incentivizing productivity.
Steel Works, Inc. is experiencing high inventory levels, low customer service, decreasing sales, and rising expenses. The company manufactures custom and specialty steel products across 5 locations. Gary Lemming, head of the new centralized logistics group, has been tasked with analyzing data and fixing all problems within a week. After collecting data, the consulting group recommends focusing on high-volume products, predicting demand through regression, and consolidating warehouses. However, stakeholders raise concerns that this may negatively impact important customers and lead to higher costs given product volatility and long lead times. The group develops an alternative solution using a critical ratio concept to right-size inventory levels while maintaining adequate service across seven key products.
The document analyzes Microsoft using a PESTLE analysis and SWOT analysis. It identifies political, economic, social, technological, legal, and environmental factors impacting Microsoft. It lists strengths like brand loyalty and weaknesses like dependence on hardware manufacturers. Opportunities include cloud services and threats include intense competition. Strategies are proposed like digital marketing to leverage strengths and opportunities and reducing prices to address threats and weaknesses.
Pitch Deck Teardown: Super.com's $60M Series C deckHajeJanKamps
Super is a savings app with over 80 million users that offers savings on travel, shopping, cash back rewards, and credit building products. It is raising $60 million in Series C funding to expand its "super app" by adding more frequent savings opportunities in areas like gas, groceries, mobile plans, and insurance and building credit products to help lower income Americans spend less and access more of what life offers. The company aims to create a personalized experience within its super app based on each user's behavior and needs across various savings products from travel to cash back rewards.
Gino SA faces a decision about whether to grant direct purchasing status to Feima, bypassing its distributor Jinghua. There are 3 options:
1) Deny Feima's request to preserve distributor relationships but risk losing Feima as a customer.
2) Approve Feima's request for its industrial segment only, maintaining relationships while gaining industrial sales.
3) Grant Feima full OEM status, achieving goals but destroying the relationship with major distributor Jinghua.
The document discusses the production processes of American Connector Company (ACC) and Denso Corporation's Kawasaki plant. ACC operated 6 plants globally, emphasizing quality and customization which made up 15% of production. The Sunnyvale plant produced 4500 connector models and had undergone expansions. Kawasaki aimed for 99% utilization and customer complaints of less than 1 per million units. It used standardized designs and processes to maximize efficiency and yield. A comparison of ACC and Kawasaki in 1986 and 1991 showed Kawasaki had lower costs due to its lean production approach.
PicTech is proposing a new cell phone case called the Castle case that combines protection and personalization. The case has an LCD screen that allows the user to display any image they choose using Bluetooth technology. This solves the problem of having to buy multiple cases for different images. PicTech will target college students in the Philadelphia area. The computer peripheral industry is maturing, requiring constant innovation to drive growth. PicTech faces challenges establishing its brand against competitors like OtterBox but offers a unique combination of features. It is seeking $80,000 in funding.
Here are two views on whether effective use of BI software could be a competitive differentiator for Sysco:
1. It may not provide sustained differentiation. While BI implementation gives Sysco insights, competitors could easily obtain the same software capabilities. Once competitors catch up, the competitive advantage would diminish. Continuous innovation is needed to stay ahead.
2. Effective use could provide differentiation. Merely having the tools is not enough - it is how the insights are applied that matters. If Sysco deeply integrates insights into strategic decision making and customer relationships, it could gain an edge over competitors still learning how to optimize their BI investments. Sustained differentiation depends on how Sysco leverages its BI capabilities rather than just the
Finova Financial is a fintech company that provides affordable lending and financial services to underserved markets using blockchain technology. The company offers products like a Car Equity Line of Credit that is cheaper than competitors. Finova has financed over $7 million, generated $2.4 million in revenue in 2017, and has over $100 million raised from investors. The presentation discusses how Finova is transforming banking and introducing new ways to raise capital like a Jobs Crypto Offering that allows blockchain-based investing on public markets.
Cisco Systems is a large networking company founded in 1984 that generates over $40 billion in annual revenue. It has a dominant position in routers and switches with over 70% market share. However, competition from HP, Juniper, and others poses threats. Cisco's strengths include its strategic partnerships and acquisitions strategy, while weaknesses include lack of brand recognition in consumer markets and high prices. In the long term, Cisco aims to improve its position in consumer products and capitalize on opportunities in smart grid technology and cloud computing.
In April 2013, Procter & Gamble (P&G), the world’s largest consumer packaged goods (CPG) company, announced that it would extend its payment terms to suppliers by 30 days. At the same time, P&G announced a new supply chain financing (SCF) program giving suppliers the ability to receive discounted payments for their P&G receivables. Fibria Celulose, a Brazilian supplier of kraft pulp, joined the program in 2013 but was re-evaluating the costs and benefits of participating in the SCF program in the summer of 2015. The firm’s treasury group and its US country manager must decide whether to keep using the program and, if so, whether to keep their existing SCF banking relationship or start a new relationship with another global SCF bank.
This document provides information about Philips and Matsushita (later Panasonic). It discusses how Philips became a leading consumer electronics company through building national organizations around the world and focusing on innovation. However, it struggled with high costs as it outsourced more manufacturing. Matsushita surpassed Philips by producing low-cost, high-quality standardized products and being a fast follower. Both companies struggled with changing their cultures and structures as international companies.
Komatsu Ltd. has experienced unstable management under different leadership styles, including autocratic, diplomatic, and participatory. The company established a total quality concept under Kawai's leadership from 1964-1982 but saw stagnant sales under Tetsuya Katada from 1989-1990 as the construction equipment market declined. Tanaka focused on the domestic market and internationalization from 1987-1989 through pricing decisions. The case recommends Komatsu strengthen its domestic market position, implement more stable management, and diversify its product portfolio.
Lisa Johnson is the area manager for Citibank's Los Angeles area. James McGaran is the branch manager of Citibank's largest Los Angeles branch. Citibank implemented a balanced scorecard to evaluate manager performance across financial, strategy, customer satisfaction, control, and people measures. For James' first evaluation, he scored above par in all areas except customer satisfaction, which was below par. His overall evaluation was still above par given his strong performance otherwise and that it was the first year of the new system. Management advised him that he needs par ratings in all areas for an above par overall rating in the future.
Safelite Auto Glass is moving from an hourly wage system to a performance pay plan (PPP) to increase productivity. Under the new PPP, technicians and managers will be paid based on the number of windshields installed rather than hourly wages. To encourage higher productivity, the guaranteed minimum hourly rate will be reduced by 30% for technicians. Implementing the PPP with a smaller 10-15% reduction in the guaranteed rate is suggested to motivate employees while avoiding potential issues from too large a reduction. The PPP is aimed at increasing the number of windshield installations per week through incentivizing productivity.
Steel Works, Inc. is experiencing high inventory levels, low customer service, decreasing sales, and rising expenses. The company manufactures custom and specialty steel products across 5 locations. Gary Lemming, head of the new centralized logistics group, has been tasked with analyzing data and fixing all problems within a week. After collecting data, the consulting group recommends focusing on high-volume products, predicting demand through regression, and consolidating warehouses. However, stakeholders raise concerns that this may negatively impact important customers and lead to higher costs given product volatility and long lead times. The group develops an alternative solution using a critical ratio concept to right-size inventory levels while maintaining adequate service across seven key products.
The document analyzes Microsoft using a PESTLE analysis and SWOT analysis. It identifies political, economic, social, technological, legal, and environmental factors impacting Microsoft. It lists strengths like brand loyalty and weaknesses like dependence on hardware manufacturers. Opportunities include cloud services and threats include intense competition. Strategies are proposed like digital marketing to leverage strengths and opportunities and reducing prices to address threats and weaknesses.
Pitch Deck Teardown: Super.com's $60M Series C deckHajeJanKamps
Super is a savings app with over 80 million users that offers savings on travel, shopping, cash back rewards, and credit building products. It is raising $60 million in Series C funding to expand its "super app" by adding more frequent savings opportunities in areas like gas, groceries, mobile plans, and insurance and building credit products to help lower income Americans spend less and access more of what life offers. The company aims to create a personalized experience within its super app based on each user's behavior and needs across various savings products from travel to cash back rewards.
Gino SA faces a decision about whether to grant direct purchasing status to Feima, bypassing its distributor Jinghua. There are 3 options:
1) Deny Feima's request to preserve distributor relationships but risk losing Feima as a customer.
2) Approve Feima's request for its industrial segment only, maintaining relationships while gaining industrial sales.
3) Grant Feima full OEM status, achieving goals but destroying the relationship with major distributor Jinghua.
The document discusses the production processes of American Connector Company (ACC) and Denso Corporation's Kawasaki plant. ACC operated 6 plants globally, emphasizing quality and customization which made up 15% of production. The Sunnyvale plant produced 4500 connector models and had undergone expansions. Kawasaki aimed for 99% utilization and customer complaints of less than 1 per million units. It used standardized designs and processes to maximize efficiency and yield. A comparison of ACC and Kawasaki in 1986 and 1991 showed Kawasaki had lower costs due to its lean production approach.
PicTech is proposing a new cell phone case called the Castle case that combines protection and personalization. The case has an LCD screen that allows the user to display any image they choose using Bluetooth technology. This solves the problem of having to buy multiple cases for different images. PicTech will target college students in the Philadelphia area. The computer peripheral industry is maturing, requiring constant innovation to drive growth. PicTech faces challenges establishing its brand against competitors like OtterBox but offers a unique combination of features. It is seeking $80,000 in funding.
1
9
Ring Doorbell
Student’s Name
Institutional Affiliation
Contents
Introduction 3
Definitions 3
The Advent of Technology 5
Mexico’s Potential 5
Social Media Strategy 6
Ethical Considerations 7
Conclusion/ Summary 7
Memo of Transmittal 8
References 9
Ring DoorbellIntroduction
Security is one of the primary human needs. This creates a wide market gap due to the high demand for efficient security systems. This is the rationale behind the acquisition of Ring Inc., a security company by Amazon. The firm deals in the production of security gadgets such as CCTV cameras, motion detectors, and biometric recognition systems to mention a few (Ring, 2020). Ring Doorbell is one of the first commodities to be introduced to the market by the company. The system runs on a smartphone application called Neighbor. The surveillance videos captured can be viewed by the user on the App. More so, the company keeps a record of the captured data and can be submitted to authorities as evidence if needed. This product meets the need of having a home security to solve the security problem of rampant insecurity cases (Rani, 2014). The neighborhoods are empowered as a network in partnership with the law enforcement agencies.Definitions
The Ring Doorbell is the firm’s pioneer product. It comes with a motion sensor, HD camera, a speaker and microphone that offer a two-way audio communication interface. The user interface incorporates a mobile application that helps users get real time coverages from the camera. Additionally, a door bell ring comes inform of notification. Consequently, the home owner can communicate with the visitors using the microphone and speaker. The application also operates the surveillance camera. It can trigger records automatically if rung or in case the motion sensors are activated. The product has been improved over time to make it more effective in improving security. Last year, a peephole camera was introduced in the market. The product at hand also has a service edge to it as the company offers the clients a platform for keeping a record of the footages covered. The payment plans offer the market a basket of offers to choose from. This helps capture a large market segment depending on the factor consumers’ purchasing power. A shopping offering is evident as the consumers tend to put in efforts to make a comparison between the available brands. The market segment is primarily seeking the best product for the price taken (Deshmukh, 2012). This leaves them choosing the best offer as they hold that there are variations between the differentiated security commodities in the market. The target market visits multiple physical and online retail stores and consider reviews before making the purchase decision. This paper covers how the product can be introduced in the Mexican market.
The Ring Doorbell falls under the category shopping offering. For this case, the consumers are concerned about brand names when choosing products. .
1
9
Ring Doorbell
Student’s Name
Institutional Affiliation
Contents
Introduction 3
Definitions 3
The Advent of Technology 5
Mexico’s Potential 5
Social Media Strategy 6
Ethical Considerations 7
Conclusion/ Summary 7
Memo of Transmittal 8
References 9
Ring DoorbellIntroduction
Security is one of the primary human needs. This creates a wide market gap due to the high demand for efficient security systems. This is the rationale behind the acquisition of Ring Inc., a security company by Amazon. The firm deals in the production of security gadgets such as CCTV cameras, motion detectors, and biometric recognition systems to mention a few (Ring, 2020). Ring Doorbell is one of the first commodities to be introduced to the market by the company. The system runs on a smartphone application called Neighbor. The surveillance videos captured can be viewed by the user on the App. More so, the company keeps a record of the captured data and can be submitted to authorities as evidence if needed. This product meets the need of having a home security to solve the security problem of rampant insecurity cases (Rani, 2014). The neighborhoods are empowered as a network in partnership with the law enforcement agencies.Definitions
The Ring Doorbell is the firm’s pioneer product. It comes with a motion sensor, HD camera, a speaker and microphone that offer a two-way audio communication interface. The user interface incorporates a mobile application that helps users get real time coverages from the camera. Additionally, a door bell ring comes inform of notification. Consequently, the home owner can communicate with the visitors using the microphone and speaker. The application also operates the surveillance camera. It can trigger records automatically if rung or in case the motion sensors are activated. The product has been improved over time to make it more effective in improving security. Last year, a peephole camera was introduced in the market. The product at hand also has a service edge to it as the company offers the clients a platform for keeping a record of the footages covered. The payment plans offer the market a basket of offers to choose from. This helps capture a large market segment depending on the factor consumers’ purchasing power. A shopping offering is evident as the consumers tend to put in efforts to make a comparison between the available brands. The market segment is primarily seeking the best product for the price taken (Deshmukh, 2012). This leaves them choosing the best offer as they hold that there are variations between the differentiated security commodities in the market. The target market visits multiple physical and online retail stores and consider reviews before making the purchase decision. This paper covers how the product can be introduced in the Mexican market.
The Ring Doorbell falls under the category shopping offering. For this case, the consumers are concerned about brand names when choosing products. .
How is the Age of Disruption and geospatial tech & data key to the digital transformation of insurers? How will it allow them to rapidly change their business models, their cultures and the way they use information to enhance the customer experience and remain relevant in the 21st century?
The insurance industry – from product development to underwriting to claims – is being fundamentally transformed by AI technologies. Although some companies are investing aggressively in AI to slash costs while also enhancing the customer experience, most insurers will need to accelerate their efforts or risk discovering that it has become too late to catch up.
Bolttech is a leading insurtech exchange and digital native provider of insurance and device protection products. It operates across 14 markets with over 7.7 million customers and 1,400 employees. Bolttech offers an insurtech exchange platform that enables partners to connect customers with digital insurance via both SaaS and digital brokerage. In 2020, the exchange platform wrote over 4 million policies and had $4.6 billion in annualized premiums in-force. Bolttech also offers its own digital insurance and device protection products directly to customers.
This is a project created for my Management 411 course. My team was asked to create a product that would succeed within the communications industry. We came up with a smart-phone version of a walkie talkie named the "Wukie- Talkie." This product is aimed primarily to help law enforcement, but can also be used for recreational fun!
1. Smartphones have become the dominant internet device in the UK, used by 66% of people. The insurance industry could benefit from adopting mobile trends to better engage with customers.
2. Insurance companies should aim to be more customer-centric, engage in two-way dialogs, adopt agile models and increase awareness through personalized mobile content.
3. While insurance has traditionally been paper-based, mobile provides opportunities for customer insights, personalization, and social media engagement that companies should pursue.
This document provides a business plan for MJ & Associates, a new law firm. The plan outlines the firm's mission and vision, which are to provide trusted and affordable legal representation with the highest success rate. It describes the legal services offered, including defense for drug, sex, violent, and other criminal charges. The strategic plan identifies strengths such as the firm's location, and weaknesses as being new. The technology plan selects software and maintenance to support tasks like time tracking, calendaring, case management, and an internal network. It provides costs and funding sources for the technology resources.
Progressive Insurance implemented mobile technology solutions to improve their claims processing and customer service. Mobile claims adjusters with laptops could complete tasks at accident scenes in hours that previously took weeks. This improved the customer experience. Progressive also used mobile apps and GPS vehicle tracking to more accurately assess risks and set premium prices. While this approach raised privacy concerns for some, Progressive argued it only used data for pricing. Overall, the mobile solutions increased efficiency, customer response times, and allowed up-selling additional policies.
This document discusses how organizations can respond to digital disruption. It notes that rapid technological changes are enabling new business models and customer experiences. To avoid being disrupted, companies must adopt modern work practices like DevOps, automation, collaboration, iterative delivery, and cloud-first strategies. They should also cultivate an innovative culture with traits like empowerment, experimentation, diversity, and questioning assumptions. The document provides examples of disruption in various industries like insurance, transportation, and geospatial services to illustrate these points.
GroupM Brand Safety Playbook For MarketersSocial Samosa
This brand safety report released by GroupM, WPP’s media investment group, offers new category-specific recommendations for marketers on the future of brand safety.
This document provides an overview of current issues impacting brand safety. It discusses how third-party cookies are being deprecated due to privacy regulations like GDPR and CCPA. This could impact third-party measurement which is important for transparency. Other issues discussed include deepfakes threatening trust, the need for transparency, and concerns about being overly cautious with brand safety. Specific challenges are outlined for connected TV, digital out-of-home, location data, audio, and gaming environments. The document aims to assess potential future shifts and provide guidance on these evolving brand safety issues.
Sekure makes insurance easy to access through digital and embedded products. They partner with insurers and brokers to create and digitize insurance products in days, integrating seamlessly with partners. This provides contextualized and convenient insurance access for people and companies. Sekure aims to become the largest insurance platform in Latin America by 2025 by facilitating over 600,000 transactions worth $1.5 billion in premiums across multiple countries.
The document discusses the key shifts underway in the insurance industry as it transitions to a digital model. Empowered consumers demanding personalized experiences, innovative competitors, and new technologies are driving insurers to move from a policy-centric model to one focused on the customer. Insurers must utilize data and analytics to develop new products that anticipate customer needs and can be purchased through any channel. They also need to build ecosystems of partners and modernize legacy systems to keep pace with these changes and remain competitive in the digital insurance landscape.
Senior Strategist Tom Whitbrook, explores the future of insurance propositions, customer experience and operations as well as how #insurers can build the organisational and technological capabilities required to become the insurer of the future.
This document discusses mobile solutions for the insurance industry. It describes Smash Test Solutions as a provider of mobile apps to enable insurance activities like sales, claims processing, and customer service. The key benefits are improving customer satisfaction, reducing costs, and providing real-time access to information and transactions for customers, agents and staff. Trends in the industry like increasing adoption of mobile are discussed. Specific mobile apps are proposed for sales teams to access customer data and close deals, and claims adjusters to efficiently process payouts.
Similar to Pro Tech Mobile Device Insurance Business Plan (20)
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
in the American Kennel Club's annual survey of the country's most
popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
color choices.”
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
How to Implement a Strategy: Transform Your Strategy with BSC Designer's Comp...Aleksey Savkin
The Strategy Implementation System offers a structured approach to translating stakeholder needs into actionable strategies using high-level and low-level scorecards. It involves stakeholder analysis, strategy decomposition, adoption of strategic frameworks like Balanced Scorecard or OKR, and alignment of goals, initiatives, and KPIs.
Key Components:
- Stakeholder Analysis
- Strategy Decomposition
- Adoption of Business Frameworks
- Goal Setting
- Initiatives and Action Plans
- KPIs and Performance Metrics
- Learning and Adaptation
- Alignment and Cascading of Scorecards
Benefits:
- Systematic strategy formulation and execution.
- Framework flexibility and automation.
- Enhanced alignment and strategic focus across the organization.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
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3. 3 | P a g e
Executive Summary
Today, we are living in a world that is technology dependent and having a “smart” device is what places
some people ahead of the game. Pro-tech is a company that insures smart devices so our clients can use
them, when they need them the most. Where most smart devices can be expensive and extremely
difficult to fix when looking to major cell phone providers for help, Pro-tech will make insurance and
trouble shooting for these devices easy and accessible to all.
Pro-Tech’s Solution to a Smart Device Problem
According to an article on www.blog.nielsen.com, 28% of cell phone users own smart phones or smart
devices like iPads and iPods, and this number is continuing to grow. These type of devices are not
normally covered under insurance policies provided by cell phone providers. Pro-tech will offer policies
that feature low deductibles that allows smart device owners to save money when acquiring coverage
for their valuable items. Currently carrier insurance plans for smart phones have a payment system
which ranges from $4.99 to $6.99 a month and a deductible ranging from $100.00 to $125.00. We
believe by giving the customer options to pay monthly, quarterly, annual or two or more years will allow
us to integrate our plan into their preferred budgets. Additional, we found the cost of their insurance
premiums and deductibles are equal to the purchasing price of most equipment after only two years.
We believe maintaining a cost structure below full replacement value will allow us to have a major
advantage over the competition in the market.
Pro-Tech as a Product
Pro-tech will offer insurance policies on tablet computers, smart phones, and MP3 players. Market
research suggests that 40% of all smart devices purchased are in need of our services within a year time
frame. With that in mind, we have developed a pricing strategy that allows us to remain competitive in
the industry. Tablet computer insurance policies will have a premium of $149.99 per year with a $50.00
deductible. Smart phone plans will have a premium of $99.99 per year with a $50.00 deductible. Finally,
MP3 player plans will have a premium of $49.99 per year with a $50.00 deductible.
Pro-tech’s Market and Marketing Strategy
To market Pro-Tech, we have conducted research to find niche populations that will mostly likely
purchase our product and services. According to the Nielsen Company and their article on smart phone
usage in the United States, 50% of people who own Android phones and 43% of people who own
iPhones are under the age of 35. We can use youthful marketing strategies like social media. While
these devices can be marketed toward the youth, the Blackberry is shown to be owned by a majority of
people who are 45 years and older. Marketing strategies that are business focused and advertisements
on television in addition to online media would be a great way to reach this market. Additionally, we
would like to get in contact with retailers who sell smart devices such as Wal‐Mart, BestBuy, and
RadioShack. Establishing a strategic partnership with retailers will not only increase their productivity
and help provide their customers with essential accessories for mobile computing devices, but Pro-Tech
would be positioned to customers while making their purchasing decisions. Furthermore we will like to
make promotions for customers who bundle their devices together into a complete insurance solution.
4. 4 | P a g e
Finally, we believe that word of mouth will be our best form of reaching our customers. With this in
mind, we must strive to ensure our brand image exceeds customer expectations. We can accomplish
this by ensuring that every customer gets a extraordinary experience from every aspect of our company
Pro-Tech’s Financial Analysis
In order to get our Pro-‐‐Tech started we will need $1,499,100.00. This price includes the rent,
equipment, furniture and fixtures for our buildings. It also includes our inventory, insurance, supplies,
advertising, and utility cost. Pro-Tech’s management team is investing $1,000,000 in order to launch this
business venture, and is seeking the $449,100 from investors who will have a 20% equity stake in the
company. In our one year sales forecast, we believe we will sell close to 12,000 plans and a 20% growth
rate. We believe in our second year we will see a 40% growth rate, and in our third year a 30% growth
rate. After conducting much research and a break even analysis, we are confident that we will break
even in 24 months, with expenses costing $4,000,000 and revenues will be at $8,000.000.
Pro-Tech’s Start-up Plan
Our start up process will begin by getting a loan to cover our main startup costs. To cover the remaining
$449,100 we are looking for investments from venture capitalists and also getting an approved bank
loan. Next we will need to file Pro-Tech as an official business, register the Pro-Tech name, and become
an LCC. Along with this we need to get a tax identification number and license/permit which is done by
filing papers with the government which could take from three to five weeks. After that paperwork is
done, we next need to find and lease a building space, ideally one with a mortgage of around $60,000.
We would like to be localized in New York City area because this area has a high concentration of
smartphone users. Once we have a space, our next step is to acquire our equipment for our business,
and design the interior of our building, which we would like to have accomplished in one month’s time.
Once our building is finished and equipment is bought, we will then hire our potential employees, start
our advertising campaign, and ultimately begin Pro-Tech.
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Market Opportunity
Pro-Tech has a great opportunity to reach people who own smart devices because currently most
cell phone carriers do not offer insurance policies that cover them. Specifically, Apple iPhones and iPads
are not readily covered by AT&T and other smart device carriers. Our CEO, James Travis Turner has
worked as a consultant for AT&T and Radio Shack. He has had first-hand experience witnessing iPhone
customers coming into his AT&T store and having broken phones that could not be fixed or replaced.
Over the course of the interaction with these customers, there has been a plea for AT&T, APPLE or any
other company to come up with an affordable solution in light of the increase in popularity and fragile
design of these devices. Not only will Pro-Tech offer insurance on these devices, we will offer a variety
of policies with different payment options.
Not only will Pro-Tech offer insurance on these devices, we will offer a variety of policies with different
payment options that most phone carriers and insurance companies do not offer. We believe that
offering payment options on a monthly, quarterly, annually, or two or more years will give Pro-Tech a
competitive advantage in our market and allow for higher customer satisfaction. Another aspect to Pro-
Tech’s competitive advantage is that we will offer premiums to our customers on smart devices that are
below the full replacement value. Cell phone companies, which are our main competition, offer
monthly premiums between $4.99 to $6.99 a month with deductibles ranging from $100.00 to $125.00.
Apple offers an their AppleCare extended warranty plan for their devices at the cost of $69.00 but it
does not cover accidental incidents, just warranty defects in the product. Asurian, market-share leader
in our industry, just started offering Mobile Protect but it cost 11.99 a month and the deductible can
range from $99.00 to $149.00 per claim. In order to receive complete coverage for your device,
consumers would need to purchase both the AppleCare plan and Mobile Protect. With Pro-Tech,
consumers would only need to come to us, and have much more affordable and hassle free insurance
policies for their valuables.
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Market Solution
Pro-Tect’s main product will be insurance for smart devices. These policies will cover tablets,
smartphones, and mp3 players on a yearly basis. They will cover manufacturer defects, accidental
damage, and lost and/or stolen claims. There are a few requirements that customer must meet in order
to qualify for our product which includes:
1.) Device must get insurance within the first 30 days from purchase
2.) If applicable, device must have ProTechTed Application installed.
(iOS, Blackberry, Android, Windows Phone 7, and Palm)
Pro-Tech will offer our insurance policy online and by phone. Customer will have the ability select their
device and sign up for our product. Once a customer is signed up for our product a customer service
associate will approved their request within 1 business day with a confirmation email. This approval
process will verify the device is registered with the Pro-TechTed application. When an incident occurs
the customer can go online and files a claim or calls our 24/7 customer service center. If the opportunity
presents itself, we do have plans for a retail store environment but not in the near future. The pricing
structures for our products are listed below:
Product Premium Deductible
Tablets 149.99 per
year
$50
Smartphones 99.99 per
year
$50
MP3 Players 49.99 per
year
$50
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Market Analysis
Our target market includes non-technical users of mobile computing devices that are motivated by the
fear of not being able to operate their devices due to neglect or misplacement. AT&T, the largest
telecommunication company in the United States, released their third quarter earnings report for 2010
which shows their wired component is declining quarter over quarter. At the same time, their wireless
component is expanding rapidly, and according to AT&T’s press release outlining their third quarter
sales of 2010, there have been “record wireless volumes, with more than 8 million postpaid integrated
device sales.”
Also according to a November 1, 2010 article on blog.neilsen.com, 28% of cell phone users nationwide
are using smart phones, and smart phone sales in the third quarter of 2010 have increased from 35% to
41%. This shows that smart phones are increasing in popularity, and the more people that have them,
the more problems and accidents involving these items are bound to occur.
We see a unique opportunity for differentiation in the payment process, and bundling of different
insurance plans for different devices. Currently insurance plans for smart phones provided by cell phone
carriers have a monthly fee payment system which ranges from $4.99 to $6.99 and a deductible ranging
from $100.00 to $125.00. We believe by giving the customer options to pay monthly, quarterly, annual
or two or more years will allow us to integrate our plan into their preferred budgets. Additional, we
found the cost of their insurance premiums and deductibles are equal to the purchasing price of most
equipment after only two years. We believe maintaining a cost structure below full replacement value
will allow us to have a major advantage over the competition in the market. Finally, most of our
competition only offers iPhone insurance. We would like to create a complete insurance solution for all
of our markets smart devices.
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Marketing Strategy
We plan to launch our product aggressively on Facebook, Twitter, YouTube, MySpace, and other social
networking outlets as well as other traditional forms of advertising. Our initial marketing plan includes a
wide range of free social networking websites which is the fastest growing media outlet according to
Nielsen with 307 million unique visitors in December 2009 compared to 242 million in December 2008.
Our traditional forms of advertising will be through television and newspaper to create more awareness
for ProTech.
Research on specific types of smart phones would allow us to target niche markets. According to the
Nielsen Company and their article on smart phone usage in the United States, 50% of people who own
Android phones and 43% of people who own iPhones are under the age of 35.
We can use more youthful marketing strategies like online media, social media, etc. While these devices
can be marketed toward the youth, the Blackberry is shown to be owned by a majority of people who
are 45 years and older. Marketing strategies that are more business focused and advertisements on
television in addition to online media would be a great way to reach the public.
Having advertisements that represent a more diverse audience would also be beneficial. According to
the Nielsen Company, 19% of smart phone users are Hispanic, and 10% are African American. This
shows that there is a diverse market that ProTech can reach with our insurance plans.
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Additionally, we would like to get in contact with retailers who sell smart devices such as Wal-Mart,
BestBuy, and RadioShack. Establishing a strategic partnership with retailers will not only increase their
productivity and help provide their customers with essential accessories for mobile computing devices,
but ProTech would be positioned to customers while making their purchasing decisions. Furthermore,
we will like to make promotions for customers who bundle their devices together into a complete
insurance solution. Finally, we believe that word of mouth will be our best form of reaching our
customers. With this in mind, we must strive to ensure our brand image exceeds customer
expectations. We can accomplish this by ensuring that every customer gets an extraordinary experience
from every aspect of our company. From the sales staff to our claims centers, we want to make sure the
customer is completely satisfied and willing to recommend our company. After an interaction with
ProTech staff, we want our quick response and excellence customer service to motivate customers to
share their experiences with their friends, and colleagues in order to grow our company
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.Management Team
James Turner (Founder and CEO)
James Turner is a student at Purdue University studying Retail Management with a minor in
organizational leadership skills and a certificate in entrepreneurship and innovation at Purdue
University. Furthermore he is certified by AT&T mobility as a small business consultant. After working
for AT&T mobility as a Retail sales consultant, and for RadioShack as a sales associate, he started Pro-
Tech. Pro-Tech is a business that insures electronic devices that are not covered under normal insurance
products. Pro-Tech specifically covers iPhones, iPod touches, iPads, and other expensive mobile
computing devices.
James Turner’s job is to align the company, internally and externally, with his strategic vision. The core
duty of a CEO is to facilitate business outside of the company while guiding employees and other
executive officers towards a central objective. CEO and COO are also in charge of public relations.
Nicolas Abuchaibe (Founder and COO)
Nicolas Abuchaibe was born in the northern region of Barranquilla, Colombia. Nicolas arrived in the
United States almost 2 years ago when he started his undergraduate studies at Purdue University. He is
graduating in May 2012 with a bachelor degree in Industrial Management, minor in Operations and a
certificate in entrepreneurship and innovation. Over the last two summers he has worked in a leading
producer and exporter of manufacture textiles in Barranquilla, Colombia. In these jobs he learned how
to manage a production line, research industries, review the direct material and direct labor variances
to improve company efficiency, and acquired management skills.
Nicolas Abuchaibe’s focus is on operations management. He is responsible for the development, design,
operation, and improvement of the systems that create and deliver the Pro-Tech’s services. He is
responsible for ensuring that business operations are efficient and effective and that proper
management of resources, distribution of services to customers, and analysis of queue systems is done.
Brigid Rowe (Founder, CCO and, Web Development)
Brigid Rowe is a senior majoring in Communication at Purdue University, with an emphasis in Public
Relations and Advertising. She is passionate about the practice of creating relationships between an
entity and its stakeholders, and making sure these efforts ultimately drive the bottom line. Brigid has
held several internships in the areas of political communication, community relations, and news service.
Brigid Rowe’s focus is on communication, and the Pro-Tech website. She is responsible for managing
the communications risk and opportunities of Pro-Tech, both internally and externally. Also she will be
creating and maintaining online networking technologies including websites, mobile phone applications,
and web links. Her essential duties will be work as a key advisor for the CEO of Pro-Tech, research new
technologies to be utilized by Pro-Tech in its pursuit of connectivity, networking with individuals and
companies relating to collaboration technology, and maintaining a dynamic website that adapts to the
needs of Pro-Tech as it relates to world problems and new technologies. Also Brigid is expected to
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attend all meetings as decided by CEO or COO, and exceptions must be made by contacting CEO and
COO directly through email at least one week in advance.
Kara Ford (Founder, CHRO, and Project Leader)
Kara Ford is a Purdue University Junior in Management. Adding to this she will be receiving minors in
Organizational Behavior and Human Resources, and Music with the Entrepreneurship Certificate. She
has an intense desire to help improve the quality of living in today’s societies. These life altering
changes can only come about if people like Kara, are willing to step up and do what is necessary to
accommodate people in need.
Kara Ford’s focus is on human resources and project leadership. She is responsible for the workforce
strategies, organizational and performance conduct, and human resources delivery owner. Also she, as
the project leader, can take the role of a manager for Pro-Tech. Kara’s essential duties are to work as a
key advisor for the CEO and COO of Pro-Tech, attend leadership learning seminars and/or online
leadership training, and provide critical analysis of problems. She is also responsible for the introduction
of a project, revision of a project, and any additional tasks as assigned by CEO and/or COO.
In addition to higher level management, Pro-Tech requires the knowledge, skills, and time of a wide
range of individuals. Pro-Tech can potentially utilize college students and higher ranked from different
background, experience level, and locations. In order to be part of Pro-Tech, individuals, must show
interest and desire for the company, as well as commitment.
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Technical Analysis
The Pro-tech business will go through many steps to officially start up. To commercialize and launch
Pro-tech we will have to go through a fairly long process to incorporate every asset of our business idea
to possibly become a successful business. The steps consist of getting a loan from investors, filling out
official paperwork, leasing a building for business location, buying all the equipment needed for the
business, hiring the employees, and advertising the business. After Pro-tech goes through these steps,
it will officially be able to earn profit, gain loyal customers, and really grow as an insurance company.
Now, to get more in depth with the steps needed to advance and commercialize Pro-tech, we will begin
by trying to get a loan from the bank to have the money needed to start up Pro-tech. Our total funds
required to start up this business effectively is $1,499,100. However the owner’s injection would be
$1,000,000. Therefore we would be asking for a loan of $499,100. Getting this loan is very essential to
this business. We will not be able to start Pro-tech on the scale that we vision without this loan. After
getting a loan approved we can continue with the commercialization of Pro-Tech.
Filing Pro-tech as an official business would be the next step. We would have to register Pro-tech’s
name, and turn Pro-tech into an LLC. We will also need to get a tax identification number and
license/permit to run this business. This would require specific paperwork with the government. This
paperwork will be the approval processes that we will need to truly get working on Pro-tech. We
would estimate that this will take a few weeks to finish.
After finishing the paperwork requested, we can really get started on developing Pro-tech. We will have
to find and lease the building we would like to work out of. We assume that the building mortgage will
cost us about $60,000. We do not think that finding the building will take a very long time after
finishing the paperwork. Throughout the first 2 steps, we would have already been looking for the
perfect building. However, after leasing the building we would need to move the equipment into the
building. We will need to design and create a space that is perfect for the Pro-Tech business. We will
need equipment such as desks, computers, telephones, paper, file cabinets, chairs, the equipment to
repair the smart devices, etc. We would estimate that moving the equipment and design the Pro-tech
space will take approximately a month to finish. Once we are finished with the Pro-tech space, we can
continue on to hiring employees.
We will assume that we would have started looking for the perfect employees while we are still moving
the equipment into the leased building for Pro-Tech. Therefore, the amount of time needed to find the
right employees for Pro-Tech will be cut shorter than estimated. Because we will be looking at college
students to work for Pro-Tech, we feel that it will be easier for us to fill these positions. We would
estimate it would take us about 1 month after finishing the design of the Pro-Tech building, to fill the
employee positions and be about ready to commercialize the company.
After filling in all of the employee positions we will be ready to function as a company. However, we
will need to start advertising the company so that people know about the company and we can start
getting steady customers. We will then implement our advertising strategy. However, to really
implement our advertising strategy, we also need to fill the position of our key advertisement who is
“Pro-Tech Ted”. We will need to find the “right” actor to fill this position and really have our desired
effect on the public. We assume that finding “Ted” will be a tedious process and will cause our
13. 13 | P a g e
advertising to take longer to get started. Assuming that it will take 1-2 months to find the perfect
“Ted”, we would project that the advertisement for Pro-Tech will really start having an effect on our
business after a good 3 months of advertising using out Pro-Tech Ted advertising strategy. After a
month of advertisement we will consider Pro-tech commercialized and developed as a business.
While commercializing Pro-tech we will have to rely on few outside factors that can affect the execution
of Pro-tech and ultimately affect the success that Pro-tech can receive. These contingencies will be the
investors giving our company the loan, the building, and our advertising results.
The first factor, the investors, will be giving us the extra money needed to fully start Pro-tech in the way
we vision it. If they do not agree to give us the loan, we will not be able to even get started at all on the
Pro-tech business. They have a huge impact on the very beginning steps to creating Pro-Tech and we
have no control over the size of the loan they decide to give us.
In addition to the investors, more outside contingencies that can affect Pro-tech would be the finding
of the perfect building. We would not have control over finding the “right” building for $60,000, that
Pro-tech can use effectively. The amount of college students that are willing to work for Pro-tech are
another outside factor that is not under our complete control. The area that we are placed might not
be a great area for college students. Therefore we must keep the location of the building specific to
achieve our employee goal.
Our final outside factor is the advertising strategy that we have come up with. We have come up with
an excellent strategy, but we are unsure how it will truly impact the consumers. We are also unsure
how the advertising company that we will be working with will execute our strategy after our direction.
In addition, we have put quite a bit of emphasis on finding a “Pro-Tech Ted” to help our advertising
strategy and to really give our company a face. However, we might be able to find the “perfect” Ted
that we need to create the effect on the public that we desire. We know that through creating and
starting up Pro-tech, we have many factors that we have no control over. However we have great
confidence in the estimations and projections we have calculated.
To address the risk of failure for the Pro-tech company, we must first address the risk of losing a great
amount of productive time into this company. Commercializing this business will take a lot of hard work
to stay on schedule and for Pro-tech to turn into our vision. We, as business owners, intend on
spending much of our leisure time working and transforming Pro-Tech into the business we envision.
Secondly, we must address a very important factor of this business which is the startup cost. Each of us
will be putting $250,000 of our own money into this company. Therefore, if this company does fail,
each of us will be losing a quarter of a million dollars. With such a large money risk we have on our
shoulders, we will be willing to put even more work and thought into Pro-tech. This would lower the
failure rate that Pro-tech will have. Other risks that this company will have are much smaller effect on
us. They consist of the investors losing their money and college students that were hired, losing their
job. We however, understand all of the risks that consist in the creation of Pro-tech and we will be
working very hard to be sure that no one gets strongly affected.
After addressing the risks that Pro-tech will face in order to commercialize, we want to recognize them
and do everything that we can to make Pro-tech a successful company. We all believe that Pro-tech
will become a successful insurance company.
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Critical Risks
There are two main critical risks that may threaten ProTech at some point:
1. Our funding and sales projections may prove wrong, leaving ProTech insufficiently funded.
2. We may have problems with our supply chain, which includes shipping and time between claims.
In order to curb critical risk number one, our CFO will watch ProTech’s’ financials closely in order to
anticipate any shortage of funding. If at some point ProTech is in danger of raising sufficient funds, he or
she will conduct an emergency meeting with management and the board. He will explain the financial
situation, and the board will discuss potential solutions. If needed, he will take steps to secure
additional funding through loans.
For number two, our COO will watch ProTech’s’ supply chain closely in order to anticipate any problems
with the flow of the process. We need to make sure that every step we do in our company and the
products we buy are from reliable and serious companies. COO needs to make sure to choose serious
delivery companies, as we will make a huge contract with them. If something goes wrong he will make
sure to explain everything and stable the process as soon as possible to keep our customers satisfied.
He will make sure that the process is flowing in the right direction. We need to keep our customers
satisfied, so this process needs to be perfect.
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Financial Analysis
The current business model is structured to keep costs as low as possible. The funds required to start-up
our business would be approximately $1,499,100.00. The owners will be contributing $1,000,000.00 in
cash, which reduces the need for outside financing to just $499,100.00. All of the start-up money will be
used for rent, equipment, furniture and fixtures for our building, inventory, insurances, supplies
advertising and utilities.
Startup Cost
The table below provides a detailed look at our startup cost. These costs are itemized below:
In order to finance this additional sum, we are pursuing people interested in investing in our service,
and/or commercial loan at 7% APR for this financing. If a commercial loan is necessary, the owners will
personally guarantee the loan.
Regular income will come from business consulting fees, repairing fees and other services we offer. The
major initial source of cash will be our customers interested in our service. Monthly cash flow will be
negative for the first 12 months. In the 13 month, cash flow will become positive and continue to grow
steadily. The business is forecast to be profitable by year 2.
The business has no current or long-term liabilities and no loans or leases. This amount of start-up
capital will adequately set this business in motion and allow it to become self-sustaining.
Item Amount Totals
Fixed Assets
-Real Estate 60,000
-Equipment 20,000
-Furniture and Fixtures 3,000
83,000
Operating Capital
-Salaries and Wages
-Insurance Premiums 2,400
-Beginning Inventory 1,400,000
-Supplies/ Equipment 200
-Advertising and Promotions 10,000
-Licenses 2,500
-Cell phones 1,000
1,416,100
Total Funds Required $1,499,100
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Sales Forecast
Our insurance sales depend largely on the sale of insurable smart devices. In the United States there has
been over 28% of cell phone users using smart phones. We feel that will be able to capture 30% of that
market with our advertising strategy. Our sales will be approximately 12,000 plans with a 20% growth
rate during the 40% growth rate during the second year, and a 30% growth rate during the third year.
Due to James Turner’s experience in the field, we estimate a double peak seasonal sales trend during
the year. The first peak which occurs in late June and July which is a launch month of Apple’s products
which has a large market share among smart devices. Not only are consumer purchasing the products
new, consumers are becoming sellers in the secondary market as well.
Market research suggests that 40% of all smart devices purchased are in need of our services within a
year. With that in mind, we have developed a pricing strategy that allows us to remain competitive in
the industry. When a customer makes a claim it cost $411.00, $361.00, and $161.00 respectfully for
tablets, smart phones, and MP3 players which is taken out of the revenue stream.
Break - Even Analysis
Our break - even analysis take into account our start-up cost, as well as our monthly expenses. By our
estimation we will reach that point during our 12th month of operations.
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Nicolas Abuchaibe
OBJECTIVE
To acquire an internship position that will allow me to use my acquired skills in the field of Industrial Management
EDUCATION
Bachelor of Science in Industrial Management May 2012
Purdue University, Krannert School of Management, West Lafayette, IN
Minor: Operation Management
GPA: 3.55/4.00, Honors: Deans List & Semester Honors
Certificate in Entrepreneurship and Innovation May 2011
Purdue University, Burton D. Morgan Center of Entrepreneurship
Language Skills: Fluent in English and Spanish (native speaker)
Computer Skills: Working Knowledge of Excel, Word, Power Point, Access
WORK EXPERIENCE
Barranquilla Industrial de Confecciones, Barranquilla, Colombia
Leading producer and exporter of manufacture textiles Summer 2010
Introduced to the Manufacturing process of textiles
Supervised for production line
Gather and collected data to compare current capacity to ideal capacity
Formulated a production performance report on workers to compare current production to ideal production
Research and analyzed potential markets for manufacture textiles
Consorcio Abuchaibe S.A., Barranquilla, Colombia
Leading producer of manufacture home products and clothing to the Colombian market Summer 2009
Managed the inventory and shipping department including 10 workers
Reviewed shipping documents to improve shipping efficiency
Researched different markets for home products and clothing
ACTIVITIES/ LEADERSHIP
Retention, Society of Hispanic Professional Engineers May 2010- Present
Organize and prepare social and recreational activities for the members to socialize with the rest of the
members and meet people with common goals and objectives.
Prepare any social gatherings planned for the members or small get-togethers with the companies
Make sure that the room reservation is done to comply with university requirements
Organization “Brazos Abiertos” Barranquilla, Colombia May 2009- Present
Founded non profit organization to aid low-income people of Colombia to obtain a high school and college degree
Directly contacted private and public companies to raise $50,000 dollars for the organization
Directed, authorized and supervised all actions made by the foundation to ensure its rapid growth
HOBBIES & OTHER INTEREST
Golf, baseball, soccer
Travel to learn different cultures
Cooking abilities
Leadership skills
U.S. Resident, Born and Raised in South America (Colombia)
Campus Address
121 W. Wood Street apt. 12
West Lafayette, IN 47906
nabuchai@purdue.edu
(765)-532-4111
Permanent Address
500 Brickell Ave Apt. 401
m Miami, FL 33131
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JAMES TRAVIS TURNER
Current Address jtturner@purdue.edu Permanent Address
3918 Campus Suites Blvd Apt 913a 765.237.1672 56085 Chapel Lane
West Lafayette, IN 47906 South Bend, IN 46619
OBJECTIVE
To obtain a challenging consultant internship that will allow me to further my analytical, communication and
leadership skills.
EDUCATION
Purdue University, West Lafayette, IN December 2011
Bachelor of Science in Retail Management
Minor: Organizational Leadership and Supervision
Certificate of Entrepreneurship & Innovation
EXPERIENCE
Retail Sales Consultant September 2008 - Present
AT&T Mobility, West Lafayette, IN
Promoted from a Level I to a Level III store based upon sales performance.
Educate clients using interactive product demos based on knowledge gained on and off the job.
Consulted Sony on the development and successful launch of their first Smartphone in the United States.
Collaborated with top RSC’s to analyze the effectiveness of a multi – million dollar investment in
customer satisfaction.
Sales Associate November 2006 – August 2008
RadioShack Corporation, South Bend, IN
Surpassed monthly sales goals provided by management on a consistent basis.
Controlled stock and operated cash drawer.
Developed skills of the AT&T POS I & II and Sprint FAST systems.
Establish customer relationships in order to recommend a personalized electronic solution.
Marketing and Sales Internship January 2008 – May 2008
WiseCampus.com, West Lafayette, IN
Formulated a marketing plan for a successful launch at Purdue University.
Constructed promotions plan to educate students on the benefits of the website.
Active seek students, and student organization participation on the website.
Chief Operating Officer July 2006 – December 2006
Fashions and More, South Bend, IN
Managed the accounting and online division of sales, marketing, and distribution.
Generated marketing strategies to promote products on a local and national via ecommerce.
Maintained b2b accounts to insure clients took advantage of everything the company has to offer.
Effectively communicated with international suppliers to stock storage facilities and managed logistics.
ACTIVITIES
JcPenny Job Shadow Day 2010 Society of Minority Managers, Member
Purdue Retail Organization, Member Bethlehem M.B. Church Musician, Organist
AWARDS & CERTIFICATIONS
E.T. Weiler Scholarship Recipient
AT&T Small Business Consultant Certification
Purdue University’s Krannert School of Management Business Opportunity Program 2007 Alumni
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Kara Ford
(317) 460-5239
Ford0@purdue.edu
Campus Address Permanent Address
272 Littleton St. Apt 582 5446 Surrey Hill Ct.
West Lafayette IN, 47906 Indianapolis IN, 46226
Objective
To obtain a summer internship in the field of Organizational Behavior and Human Resources
Education
Purdue University (West Lafayette, IN)
Krannert School of Management 2012
Major: Management
Concentration: OBHR
Minor: Music
Certificate: Entrepreneurship
GPA 3.2/4.0
Leadership Experience June 2010-August 2010
Residential Assistant (Purdue University)
Regulated residential living space over the summer for incoming freshmen at Purdue
University to ensure that the students were secure to the standards of the school
Created activities within the summer for the residents to improve their summer experience
Mentored and advised new students to enhance their knowledge of the school and to better
their experience at Purdue
Expanded interpersonal communication skills through leadership and direction
Activities
Student Concert Committee (Purdue University) August 2010-present
Collaborated with group mates to schedule headlining concerts tours at Purdue University
Provided all of the needs of musicians and touring crews on concert days
Creatively cooperated with group mates to advertise and market concerts to the Purdue
community
Eased the level of conflict on hectic concert days by helping and communicating with
group mates effectively
Boiler Music Group (Purdue University) January 2010-present
Vice President
Teamed up with singers/writers/producers to create compelling music
Worked within the group to manage and schedule new performances and shows to gain
exposure
Volleyball Club (Purdue University) August 2008-December 2009
Strategized with team mates during matches to end up with a winning outcome
Worked hard to obtain a strong team bond by reducing team conflict and enhancing team
activities
Work Experience May 2009-August 2009
Sales Assistant (Sahm Aquatics Center, Indianapolis IN)
Provided patron and consumer satisfaction through good direction and communication
amongst supervisors, co-workers, and users of the facility
Developed a good environment by building strong relationships with co-workers and
reducing conflict
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Brigid Rowe
4714 Fletcher Ave Indianapolis, IN 46203 (317) 965-4259 browe@purdue.edu
EDUCATION
Purdue University - West Lafayette, IN August 2007-Present
Bachelor of Arts in Communication
Concentration in Public Relations and Advertising
GPA – 3.7
Expected Graduation Date: May 14, 2011
EXPERIENCE
Public Relations Assistant May 2010-July2010
Mercenary Publicity
Wrote press releases, scanned in press cuttings, researched media buying strategies worked with
online music media and print music media in London, England as an intern. Was a personal assistant
to the CEO of Mercenary Publicity Kas Mercer.
Work Study August 2008-Present
Purdue University Office of Admissions
Screens and systematizes all incoming documents the Admissions office receives in the mail into
computer system; prepares, inspects, and compiles documents for scanning into the computer system;
organizes and maintains mail room and hard copies of documents in the Admissions office.
Sales Associate May 2008-September 2008
New York & Co.
Oversaw the cash/register area, fashioned window displays and promotions, negotiated and persuaded
customers to become New York & Co. credit card holders.
Receptionist May 2007-August 2007
Ellenberger Park and Pool
Operated register and screened incoming patrons so that they were in compliance with the admittance
criteria, balanced daily income and oversaw the lobby area.
Leadership and Awards
Purdue University Academic Excellence/Dean’s List
Recognition to Purdue University students who maintain academic integrity with a cumulative GPA of 3.5 or
higher for a semester. Recipient Fall 2008, Spring 2009, Fall 2009
John Heneger Award for Christian Service
Father Thomas Scecina Memorial High School senior award given to the student, nominated by their fellow
classmates, who embodied service and the want to help others. Class of 2007 recipient.
Skills and Interests
Computer Skills: Proficient in Microsoft Word, Outlook and PowerPoint. Familiar with Excel and Social Service
Payment System
Hobbies: Singing, reading, cooking, dancing, exercising, writing, music, theater, and photography.