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BUS020X645S-Accounting for Decision Making- Level 4

15 Pages 3669 Words 3077 Downloads

Introduction

This Essay is about the idea for venture creation. I have started with my idea that is SUNBRELLA. It is a device that take energy from the sun heat. The shape of the SUNBRELLA is like a umbrella that is why I named it as SUNBRELLA. On the top of the it, there is solar panels that generate natural energy to share with people with little access to electricity. The objective behind the creation of it is to charge any electric device taking energy from the sun light (Raggatt, 2010). This device will help in to charge the electric device without using electricity and it help in to reduce the power consumption because electric device can be charged from the sun heat.   

I argue that the it is a device that help in to reduce the burden over the electric consumption. It will help in to provide better opportunities in the market so that people get attracted toward the solar energy products that will help in to reduce the burden on their household electric consumption.

My opportunity and my idea that is available, it does not require lots of money to start a business of solar system and reduce the expenses of the family that is increasing due to electric consumption.

There are many opportunities available in service sector through adoption of solar system  product are as follows-

  1. Independent solar consultant:

there are many opportunities available in adoption of solar plant on your property and it has may benefits. Independent solar consultant guide the people why to adopt the solar system product and they guide them the procedure to operate the solar system. They also provide various option to the entire process (Winnicott, 2012).  

  1. Financing consultant:

There are opportunities for finance is also available as bank provide finance assistance to them who want to install solar system and provide basic aid to them to adopt solar plant. Government is also providing help and they spread knowledge about the finance assistance to the client by organising various programmes so that people get attracted toward the adoption of solar plant.

  1. Solar Repairs:

Solar system last for the long time and does not required repairing after the successful installation but it requires maintenance from time to time. So the expenditure to maintain the solar system is also very low. It is required to update the solar system with new inverter, replacement of wires, storm damage repairs which is lasting from long run.

 I have developed my idea by following the various ways that are as follows-

  1. First, I have started to think about my idea like what I ma going to do and the needs and the requirements that are required for the development of my idea.
  2. Then, I started to think about how can I certified my product, services regarding my idea in state where the services and product is provided by me.
  3. Creation of business plan, I consider the financial issue that may be faced by me in development of my idea but there are various aids provided by the government and by the bank to start up the solar system product like SUNBRELLA. I also focused on where I will find customer at a minimum (Winnicott, 2012).
  4. Then I considered cost of the product, Customers, contacts and contracts in my business plan.
  5. Get started with business plan so that to provide better services and better product that will reduce the burden of the customer.
  6. After that considered the installation process like how the product of solar system will be installed and what are the issues that are faced by the customer in future.
  7. Get a solid customer base is the another important aspect that required to consider. For organised various seminar and programmes so that can provide information regarding our product to the customer (Venkatesh and et. al., 2013).
  8. Utilization of social media help to improve our customer base. Social media help in to provide the updated knowledge about the services that are being provided.  

My theories are -

  1. a) Opportunities- there are many financial opportunities available to start up the business of solar system. Government and the banks are the main source to provide the financial assistance to the solar system business.
  2. b) Venture development- this business will help the section of the society and it has a great impact over the society and people will get attracted toward the business of solar system.

Section 1.

The types of opportunities

There are many opportunities available for solar system business.

  1. Solar panel cleaning-

Dirty solar panel produce low electricity as comparison to clean solar panel. Many use hire individual to clean their solar system specially when it is on the roof.  

  1. Independent solar consultant-

There are many independent solar consultant available that provide help to the installation of the solar system. If consider through the professional point of view then it has many advantages that are available like help in to provide the proper installation (Shademan and Tappouni, 2013).

  1. Financial Aid-

There are many facilities availed by the government and the bank to the installation of the solar plant. For starting of the business of solar system, government and the bank provide the finance facility to incorporate such business.  

  1. Solar Appraisal-

It is required to create solar appraisal business, it is just like real estate business. It is used to create future potential of adding a solar installation on an building.

  1. Job placement service-

Solar business creates many opportunities to the society as job opportunities. It created many jobs for them who want to work in solar system industry. There are many companies that required to hire talented and well skilled employees for the operation of solar system so it creates many job opportunities for them who want work in this sector (Rutter, 2011).  

Fit the idea of SUNBRELLA to the opportunities

It is a product which is fully based on the solar system, on the top of the product there is solar system which grape the sunlight so it is based on the solar system. Because the product is based on solar system so various opportunities and aid are being provide by the government in term of finance and in term of environmental issues. Government provided help to this sector just for the development of venture that are going to deal in solar system sector so that this sector can be more developed by the time because it will help in to reduce the problem of electricity consumption. There are many electronic equipments are being used by the million of the people but the problem with them is when the batter of the such device is low so for that issue they need to carry the alternative device or any batter backup things but our product will have the power to charge their gazettes through sun heat and sun light assisted from sun assisted from solar panel so they don not need to carry any alternative device with them.

There are billion of the people who do not have the electric facility may be due electricity required regular expenditure but the solar system umbrella can be installed one time only and there is no need to make any expenditure after the installation except update of the solar system with new inverter, replacement of wires, storm damage repairs which is lasting from long run.  Many of them required to make annual expenditure on listing and mobile phone charging with kerosene, candles, battery torches but the solar system make help to them to have better opportunities as well it will help in to reduce the expenditure (Raggatt, 2010).

The main purpose behind the product is to provide charging digital or technical device to the public. User will have the benefit to use the free power energy product that is convenient when face issue of batter charging. The service are very cheaper and convenient, low maintenance cost, estimated life of such system is of 25 years. This idea will also help in to reduce the toxic material released when burning kerosene or other fossil fuels. Reduction in fossil fuels also reduce the risk of fire.     

Theory of opportunity that is considered for the SUNBRELLA

I got an idea to develop a product which will work on solar system from the systematic research theory because it give systematic criteria to develop  a idea and work on that idea to make it possible in systematic way (O'Hagan and Wigglesworth, 2015).

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Systematic Search theory

Systematic Search theory provides for the search criteria that is required to consider to achieve the targeted result. This theory covers the steps that are required to conduct the search on any of the output. Systematic Search theory collects and analyse the research studies and papers that are collected before to conduct the research and answer to the question that are being constructed for the development of the service and the product. Systematic theory provides the complete summary of research question. Systematic theory is not limited to the one sector but it applies to the various sector and even used in the solar system research project. Systematic Search theory not only provides the out comes but also the factors that may affect the product in adverse situation.  

Following are the elements that are considered in Systematic Search theory that are used to develop the idea-

  1. Defining a question and select the appropriate method for the same.
  2. Search of relevant data is conducted to discover the points that are required to consider. Conducting a search of the data and answer the question that may arise is a good quality to work.
  3. Extraction of relevant data- this tells about the factors that are considered while search. This includes how the research is done. It derives methods and intervention that are used to conduct the research, how many people worked and required to work to conduct the research, funding sources and the outcomes that are derived from the search.  
  4. Assess the quality of the data by comparing data with the standard and the criteria identified (Kommalage, 2012).
  5. Analysis and combine the data  by using complex statistical methods. It gives overall result. The combination of data can be checked through blobbogram. Combination of the data from various sources is more important than using the data from single source. It gives more reliable and better data as comparison to single source of data.     

Section 3

The Steps to develop the idea and the implementation of such idea.

  1. How to become certified in the state-

The very first step is to initiate the idea to develop a product and also consider that the product is certified or not. I have considered the point that my product and service is certified or not. Many country provide certificate on the basis of development for the period of two years (Khan, Ishrat and Khan, 2017).

  1. Creation of business plan-

After getting approval from the certified agency to run their business in solar system sector or in any other sector, it required to consider the creation of business plan. Business plan is must important for the development of the product and service that are being provided by the us. Business plans help in to create the steps that are required to develop a product and services.

  1. Consider the cost, customers, contacts and contracts in business plan-

After creation of business plan, it required to consider the cost that may occurred in the development of the product and services, customer demands and need and the fact that the customer will accept the services or not. It is also required to consider the factors that the customer will accept the product or services at a cost or not, if no then plan according to the desire and wants of the customer because customer is very important to consider in the business (Hawkins, Best and Coney, 2010).  

  1. Get started with Plan-

When all the factors are considered then it required to start the work on the plan because it is required for the successful implementation to consider all the factors that may affect their business plan and to plan their strategy according to the factors that may affect their business. After the consideration of the factor, it is required to implement and get start the work according to the plan.

  1. Installation-

Solar system plan is required to have proper installation so that best outcomes can be achieved from the plan. It is required to have proper  skilled personal to make proper installation of the solar system so that it can be started as easier.  

  1. Creation of solid customer base-

The most important point that is considered is the creation of the customer base. Strong customer base is an important part of any business because business is operated by the customer, for the customer. After the successful implementation of the plan, we created strong customer base so that customer can accept our services. For the creation of customer base we have organised many seminar, programmes and conducted surveys so that people get to know about our product and get attracted toward our product and services (Dobao, 2012).  

  1. Develop a website-

We have considered the important point that will provide he growth to our business i.e. develop a website. We have developed a website which will provide all the related information about our product and services to the public and if any one faced any issue then they can make complain to the website and they do not need to come to any place for the solution of the problem.

  1. Correct utilization of social media-

It helped to improve our customer base. Social media help in to provide the updated knowledge to the general public about the services that are being provided. Social media provides information and knowledge about the services. It also helped in to enhance the customer and the market sector of the organisation.

Reasons to develop the solar Energy product as SUNBRELLA

There were many reason behind the development of the product. The product has many great advantages as it has financial support from the government and it will reduce the burden of electric power consumption and people get attracted toward the use of solar energy product. There were many reason to develop such product that run with the sun energy as-

  1. Renewable:

Solar is a renewable resource. There is no end of the solar energy because solar system runs from the energy that is getting by the sun so it has no end. All the products that are based on solar system runs for long time because it has no end (Cover, Jones and Watson, 2011).

  1. Eco-friendly:

These products are eco-friendly and it does not cause any harm to the environment and to the society (Castro and Araujo, 2012). So it is better to adopt the solar system based plant and product so that no harm is caused to the environment.  

  1. Easy installation:

It has very easy installation process and it does not incurred lots of expenditure to the client. The installation process took place only one time and there is no need to make installation again and again.

  1. Low Voltage:

Solar system utilize very low voltage. It consumer around 12 or 24 volts DC and it ha very safer usage and installation.

  1. Grants:

There are many advantages in term of finance is availed by the government and government also produce many grants to the business of solar system. That is also one of the point that considered while developing the idea.

  1. Battery backup:

Solar plant like Sunbrella has great batter back up because it take energy from the sun light and last for the long time. During the rainy season, it also works because it stores the heat and keep it as the back up plan and when it does not receive any sun heat then it also last for the long time (Aldrich, 2012).

There are other factors also that considered while the development of the solar product-

  1. Economic factor-

The development of the solar product has a large impact over the economy of the nation. It has many great advantages as it provides better service to the society and not harm environment as well as society.

  1. Cognitive factor-

Cognitive factors are mental factors. Solar system does not have negative impact on the mental health of any of the individual as other sources has. So it would be better to adopt the solar system based product.

  1. Organisational factors-

Organisational factors are also considered while the development of the idea of the product that is based on the solar energy and it has impact over the organisation because it helps to the development of the organisation.

There are alternative ways for the development solar system based product-

  1. Solar thermal:

It collects solar radiation to heat for the industrial and domestic use. There are solar thermal collectors that collect the heat and use it to provide energy to the product.

  1. Passive solar design:

It is the use of skylights and sun rooms and thermal construction material to heat, the natural way (Abbott, 2014)

Conclusion

From the above mentioned report it can be concluded that the Solar system based product provide more energy to the industry and have many sectors that can use such solar system. SUNBRELLA provides assistance to the people who are facing problem of batter charge. It gives advantages to them to adopt solar based product because you can charge your device any time and there is no requirement to carry any device to charge your device and gazette. I have implemented my idea into the reality and provide facility to many reason. There was many factors that are considered while the development of the product to provide better services to the the society. This product is eco-friendly and does not cause any harm to the environment and to the society. It reduces the burden of the individual to carry more devices due to battery back up problem. The battery of any electronic gazette is very low and can't run for the long but when solar system is installed then it can be charged from the solar heat.

If I need to put focus on the other factor then I would like to develop the solar plant that will help to reduce the power consumption as well as provide assistance to the domestic sector and the industrial sector. Solar system plant has many advantages as Solar is green, it is renewable, it can be available any where, it is durable and eco-friendly, it has cost saving factors, the installation of solar system does not require lots of time and consumption, it use very low voltage (12 or 24  Volts DC), energy saving, it has no trenching, it has long lasting battery back up, it has dark sky and wildlife friendly compliant fixtures, tax credit and grants are also available to this sector undertaking. It has no negative impact on the environment and on the society.

References

  • Abbott, A., 2014.The system of professions: An essay on the division of expert labor. University of Chicago Press.
  • Aldrich, H.E., 2012. The emergence of entrepreneurship as an academic field: A personal essay on institutional entrepreneurship. Research Policy. 41(7). pp.1240-1248.
  • Castro, M and Araujo, L., 2012. Burnout syndrome and Brazilian civil aviation: a short essay on the focus on prevention. Work. 41(Supplement 1). pp.2959-2962.
  • Cover, B., Jones, J.I and Watson, A., 2011. Science, technology, engineering, and mathematics (STEM) occupations: a visual essay. Monthly Labor Review. 134(5). pp.3-15.
  • Dobao, A.F., 2012. Collaborative writing tasks in the L2 classroom: Comparing group. Pair. and individual work. Journal of Second Language Writing. 21(1), pp.40-58.
  • Hawkins, D.I., Best, R.J and Coney, K.A., 2010. Consumer behavior. Implications for marketing strategy. 5.
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