Innovation and Enterprises

Question: Discuss about the Innovation and Enterprises. Answer: About the owner The company is owned on the basis of sole proprietorship. The revenue generated from the third party advertising agencies are its business partners. These third party agencies are responsible for generating the major portion of earnings for Fun Learn. Customer The customers of this product will be mainly the kids who are at the stage of attaining primary education. It also provides study materials up to students of Grade 4. Hence it will build a network among the school kids who will be able to benefit from the information available in the application. The pain in the project The major pain in the project is due to the competitors providing similar services such as go kids, pesc APPS, Intellijoy and Kids games projects. The company may also face problems in convincing the school kids to avail the premium service. Business Structure and operations: Introduction The primary focus will be based on the simplicity of the presentation of the application data. The modules based on different subject areas will be customizable by the users, thereby continuous up gradation of the information on the application source. The application should provide seamless access to the application information in both desktop and mobile platforms. Some operational services provided by Fun Learn should include the following important points: Free access to the basic service of the academic material to all the kids. Easy login facility availability to the kids so that different section of the study materials can be updated easily. Simplifying the understanding process by using useful techniques Making the application advertising free in the premium service The main objective of the business plan is to make the learning process interactive, thorough various games and interactive communication process through voice commands. The main funds will be raised by the advertising companies featuring their products in the basic service facility of the application. The learning service provided should cover the subject areas like English, history, geography and general science. (Oster et al., 2013). Structure and Service details The ownership ship of the company will be based on sole proprietorship basis. The management patents, copyrights and various entities shall be owned by contractual services. In order to check the quality of the customized content in the application there will be assigned quality specialists to verify the validity of the information provided. This will ensure that the students are facilitated with most reliable information available to the students. Description of the Product/Service The products and services offered are related to the academic services for kids which are presented in a fun way to the app users. The product will also consist of the games visual interaction for the fairly intricate topics of kids related to mathematics and science which will be presented in a interactive way to the users for a simpler and innovative learning approach. (Linares-Vsquez et al., 2015) S.W.O.T. Analysis Strength Easy accessibility Interactive learning process Continuous up gradation Platform independent Advertising free facility for premium applicants. Responses Major focus should be on easier accessibility of the services. It is designed to be understandable by student of all categories. Weakness The major weakness is based on the network speed. Visual aids contribute to higher data usage. The app may not be compatible with older version of the application of both android and ios. Responses Making the app compatible with the older phones Reducing the visual aids to increase the access speed in slower networks and also decrease the data usage. Opportunity Large potential to increase the database from different portions of the world. The company has huge scope of giving the advertising companies an opportunity to promote their products related to kids companies. Responses Promoting the app in order to get more students. Promotional activities focusing for the attention of the advertising agencies. Threats Kids may not be willing to avail the premium service. Similar competitors related to providing academic content provide increased threat. Responses Keeping the service unique by keeping provision for seamless updating of the information. Table 1: SWOT analysis (Source: Sevkli et al., 2012) The Market The framing of the marketing plan involves the following procedures: Figure 1: Marketing Plan (Source: Chen et al. 2015) Goals and Action Plan Mission statement of the app company To mission statement of Fun Learn is to provide top solution for the kids of the present generation. The main purpose of the company is to cover wide area of the subject knowledge based on the recent syllabus of the students. The mission also includes the simplicity of the usage of the applications features.(Hsu Dawley, 2012). Vision To be the pioneer in providing academic solutions to the kids by the application and facilitating with accurate and reliable study techniques. Strategic Plan The application will provide the freedom to be updated and reviewed by notable writers. In this way the application will be able to update itself to the relevant information. The basic service of the application will be free of cost and accessible to all. The application will be designed to provide the simplest interface to the kids. It should provide support in wide range of platform such as android, ios and windows. (Ruiz, et al., 2014) Action Plan: Initial start-up Action to be taken Start date Signed Proposal laid to the board of directors 05/06/16 Selecting appropriate developers 10/06/16 Drafting of the proposed plan 15/06/16 Submission of plans for drafted proposal 16/06/16 Purchasing of patents and copyrights for the software 20/06/16 Financial Forecast The financial planning of the project has been shown below as follows: Assets: Value Cash 7000 Patents for 5 Years 30000 Copyrights for 5 years 20000 Software 5000 Total: $ 62000 Revenue model Profit and Loss Statement: Based on Market assumptions of 840 students Revenue: Premium Membership $ 70000 Revenue from the advertising agency $ 80000 Total revenue: $ 150000 Less expenses: Wages $ 5000 Rent $10000 Software Renewal $ 6000 Insurance $700 Interest $6500 Maintenance $4000 Services $3500 Stationary $ 700 Total Expenses: $ 38803 Net Profit: $ 23197 Budget and Cash flow: As all the transactions are calculated on cash transaction there are no credit purchases to show for the company. Implementation Plan The goals of the implementation plan for the next 6-12 months has been shown below as follows: Planning It is important to understand the key concepts required for the subjectivity of the information Sourcing Sourcing of the vendor plays an important role in the implementation process Recruitment Recruitment of the appropriate coders is another important part of the process Acquiring of license Acquiring of patent and licenses from the app stores Designing The designing of the app based on the planned set of criteria. Table 2: Implementation Plan (Source: Chen, 2015) Reference List Chen, J., Gates, C. S., Li, N., Proctor, R. W. (2015). Influence of risk/safety information framing on Android app-installation decisions. Journal of Cognitive Engineering and Decision Making, 9(2), 149-168. Chen, M., Gong, X. (2015). Android APP: Is Your Car Locked. Hsu, Y. C., Rice, K., Dawley, L. (2012). Empowering educators with Google's Android App Inventor: An online workshop in mobile app design. British Journal of Educational Technology, 43(1), E1-E5. Klieber, W., Flynn, L., Bhosale, A., Jia, L., Bauer, L. (2014, June). Android taint flow analysis for app sets. In Proceedings of the 3rd ACM SIGPLAN International Workshop on the State of the Art in Java Program Analysis (pp. 1-6). ACM. Linares-Vsquez, M., White, M., Bernal-Crdenas, C., Moran, K., Poshyvanyk, D. (2015, May). Mining Android app usages for generating actionable GUI-based execution scenarios. In Proceedings of the 12th Working Conference on Mining Software Repositories (pp. 111-122). IEEE Press. Oster, J., Behar, J., Colloca, R., Li, Q., Li, Q., Clifford, G. D. (2013, September). Open source Java-based ECG analysis software and Android app for atrial fibrillation screening. In Computing in Cardiology Conference (CinC), 2013 (pp. 731-734). IEEE. Ruiz, I. M., Nagappan, M., Adams, B., Berger, T., Dienst, S., Hassan, A. 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