Introduction-to-Business_MIHAELA (new)

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BA30591E: Introduction to Business MIHAELA ALEXE STUDENT ID: 21551022 LECTURER NAME- MOHAMED FAHIM NOTTINGHAM CAMPUS UWL

Introduction ...................................................................................................................................... 3 internal and external information ..................................................................................................... 3 PESTLE Analysis ............................................................................................................................ 5 Political ........................................................................................................................................ 5 Economic ...................................................................................................................................... 5 Social ............................................................................................................................................ 5 Porter Five Forces ............................................................................................................................ 6 Conclusion and Recommendation ................................................................................................... 7 References ........................................................................................................................................ 8 TABLE OF CONTENTS 2

INTERNAL AND EXTERNAL INFORMATION After much deliberation, I decided to launch a limited liability company (LLC) to provide sustainable alternatives to conventional modes of transportation. The company's initial offerings will consist of renting and selling electric bicycles and scooters. Commercial success would be achieved by meeting consumer demand for a low-impact and practical alternative to conventional gasoline-powered automobiles. Cascetta et al. predict that by 2027, the global market for electric bicycles and scooters would be worth $48.6 billion (2015). As people become more aware of their impact on the planet, there is a growing need for eco-friendly modes of transportation. New companies are springing up to serve this expanding industry and satisfy the demands of eco-conscious shoppers and commuters alike. As a limited liability company, it will be able to issue shares to finance operations and growth. Angel investors, crowdsourcing platforms, and venture capital firms are all potential sources of funding. In addition, our investors will have piece of mind knowing that their funds are protected thanks to limited responsibility for shareholders. Employees will be hired to oversee the rental and sales activities, and mechanics will be hired to keep the fleet in tip-top shape. Also, it will boost the local economy by purchasing electric bicycles and scooters from nearby businesses. Our primary focus will be on metropolitan areas, as this is where there is the greatest need for our service and the greatest potential for environmental benefit. The company intends to launch the service in major cities before expanding to other countries. Clientele will consist primarily of students, young professionals, and eco-conscious vacationers. Online, too, the initiative will centre on making a big splash using social media advertising and a straightforward website design. In doing so, we can reach more people and make it simpler for them to use our services, pay for rentals, and buy cars (Wandelt and Sun, 2015). INTRODUCTION

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Our environmentally friendly transportation startup's crucial internal data for decision making and control reasons includes:  Financial Data: Everything from income and expenditures to P&L and cash flow can be found here. Findings from this analysis are crucial for setting financial goals, allocating capital, and planning for growth.  Sales Data: Specifically, this entails data on rental and purchase volumes, buyer profiles, and market tendencies. This data is essential for assessing the health of our company, pinpointing problem areas, and settling on product directions and advertising approaches.  Inventory Data: You can find out how many cars are in stock, how well they run, and how much it costs to keep them in good shape. This data is essential for figuring out what cars are on hand, deciding whether or not to buy new ones, and making sure clients' current rides are in good shape (Beirigo, Schulte and Negenborn, 2018).  Employee Data: Worker attendance, productivity, and turnover rates are all included. Having access to this data is essential for assessing the efficiency of our personnel, pinpointing problem areas, and settling on appropriate strategies for training and retaining our employees.  Our environmentally friendly transportation startup's decision-making and control goals rely on the following external information:  Market Research: This involves the current state of the market, consumer preferences, and the level of competition in the electric bike and scooter sector. This data is essential for assessing our market's potential for expansion, pinpointing areas for development, and settling on product directions and promotional approaches.  Economic Data: The GDP, inflation, and unemployment rates are all part of this. This data is critical for setting prices and allocating capital in light of the current economic climate in which our company works.  Government Regulations: Safety requirements, licencing requirements, and taxation policies are only some of the topics covered here. To ensure conformity and make operational and growth decisions, this data is crucial (Ermagun and Samimi, 2015).

POLITICAL PESTLE ANALYSIS ECONOMIC SOCIAL  Social Media Data: Data collected from reviews, comments, and social media activity from consumers. This data is essential for making decisions about customer service and engagement as well as gauging the success of our marketing initiatives. The policy environment in which we launch an environmentally friendly transportation company could have a major impact on its success. Regulations and legislation established by the government that are pertinent to the electric bike and scooter company will be vital for ensuring compliance and making decisions regarding operations and expansion. In addition, our business will be affected by federal regulations concerning pollution and greenhouse gas emissions. For instance, if the government provides incentives for the purchase of electric vehicles and other eco-friendly modes of transportation, we should see an increase in demand for our services (Di Febbraro and Sacco, 2016). The state of the economy is another critical factor that will influence the success of our new company venture. Economic indicators such as the gross domestic product, the inflation rate, and the unemployment rate will play a significant role in determining the general economic climate in which our company operates, as well as the decisions regarding pricing and investment strategies. The amount of people interested in renting or buying our electric bicycles and scooters, for instance, could rise if the economy were doing well and people were more willing to spend money.

PORTER FIVE FORCES Social variables such as customer preferences, consumer awareness, and consumer behaviour will be of highest relevance for the purposes of predicting the potential for growth in our market and making decisions on product development and marketing tactics. In recent years, there has been a rise in the demand for environmentally friendly modes of transportation due to the growing number of people who are concerned about the environment and their own contribution to greenhouse gas emissions. A more in-depth understanding of consumer preferences will allow us to more precisely direct our marketing efforts and provide superior products and services (Wu et al., 2019). With the use of the PESTLE framework, we were able to pinpoint critical factors that will influence the success of our green transportation startups. Government regulations and legislation, the state of the economy, and consumer preferences, knowledge, and behaviour all play a significant role. Gaining a deeper understanding of these factors will allow us to build and implement more effective business, expansion, pricing, and marketing strategies.  Our eco-friendly transportation startup can benefit from a thorough examination of the factors affecting it using Porter's Five Forces framework.  Intimidation from potential new competitors: When it comes to electric bikes and scooters, the competition from newcomers is minimal. The high prices of equipment, technology, R&D, and the requirement for specific knowledge and abilities all contribute to the difficulty of breaking into the market. Supported by these barriers, we can cement our position as an industry leader and safeguard our market share, so maximising the profitability of our business decisions (Semanjski and Gautama, 2016).  • Competition from similar but cheaper products: The electric bike and scooter market is particularly vulnerable to the availability of cheaper alternatives. Public transportation, walking, and older cars that run on gasoline are all viable alternatives. To counter this risk, we'll be offering a viable alternative to conventional gas-powered vehicles at a price that won't put consumers out of pocket.  • Rivalry in competition: Rivalry is fierce in the electric bike and scooter market. Several businesses are developing electric bicycles and scooters, and a few have found success in the industry. We plan to combat this risk by specialising in a niche market offering, such environmentally friendly transportation. To keep up with the market and our competitors, we plan to invest in R&D. (Islam et al., 2013).

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CONCLUSION AND RECOMMENDATION  Business decisions can be helped by looking at the electric bike and scooter sector through the lens of Porter's Five Forces. It helps us see where we might be vulnerable and where we might be able to capitalise on opportunities, which in turn informs our pricing, product development, and marketing decisions. In order to secure a dominant position in the market and experience steady expansion over time, we must be aware of the challenges posed by the competition and be willing to adapt to them. In conclusion, launching a firm that rents out and sells electric bicycles and scooters is a great way to help the environment while also creating a thriving business. Rapid expansion of the market for electric bicycles and scooters reflects rising consumer interest in environmentally friendly modes of mobility. We will have the necessary legal and financial framework in place to raise capital, expand operations, and protect shareholder value by forming the company as a private limited liability company. Business decisions can be helped by looking at the electric bike and scooter sector through the lens of Porter's Five Forces. It helps us see where we might be vulnerable and where we might be able to capitalise on opportunities, which in turn informs our pricing, product development, and marketing decisions. In order to secure a dominant position in the market and experience steady expansion over time, we must be aware of the challenges posed by the competition and be willing to adapt to them. It is suggested that the corporation establish a private limited company to launch the proposed environmentally friendly transportation startup. Providing a service that no one else is offering, like environmentally friendly transportation, and spending in R&D to remain ahead of the competition will secure the company's success. It's also important to build a solid web presence and collect and analyse data from both inside and outside the company on a consistent basis.

Beirigo, B.A., Schulte, F. and Negenborn, R.R. (2018) ‘Integrating People and Freight Transportation Using Shared Autonomous Vehicles with Compartments’, IFAC- PapersOnLine [Preprint]. Available at: https://doi.org/10.1016/j.ifacol.2018.07.064. Cascetta, E. et al. (2015) ‘A new look at planning and designing transportation systems: A decision-making model based on cognitive rationality, stakeholder engagement and quantitative methods’, Transport Policy [Preprint]. Available at: https://doi.org/10.1016/j.tranpol.2014.11.005. Ermagun, A. and Samimi, A. (2015) ‘Promoting active transportation modes in school trips’, Transport Policy [Preprint]. Available at: https://doi.org/10.1016/j.tranpol.2014.10.013. Di Febbraro, A. and Sacco, N. (2016) ‘Open Problems in Transportation Engineering with Connected and Autonomous Vehicles’, in Transportation Research Procedia . Available at: https://doi.org/10.1016/j.trpro.2016.05.241. Islam, D.M.Z. et al. (2013) ‘Logistics and supply chain management’, Research in Transportation Economics [Preprint]. Available at: https://doi.org/10.1016/j.retrec.2012.10.006. Semanjski, I. and Gautama, S. (2016) 'Crowdsourcing mobility insights – Reflection of attitude based segments on high-resolution mobility behaviour data', Transportation Research Part C: Emerging Technologies [Preprint]. Available at: https://doi.org/10.1016/j.trc.2016.08.016. Wandelt, S. and Sun, X. (2015) ‘Evolution of the international air transportation country network from 2002 to 2013’, Transportation Research Part E: Logistics and Transportation Review [Preprint]. Available at: https://doi.org/10.1016/j.tre.2015.08.002. Wu, C. et al. (2019) ‘Integrated Train Speed Profiles optimization Considering Signaling System and Delay’, in 2018 International Conference on Intelligent Rail Transportation, ICIRT 2018 . Available at: https://doi.org/10.1109/ICIRT.2018.8641566. REFERENCES

Introduction-to-Business_MIHAELA (new)

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