Business Idea Assignment: Mobiles With Zero Reaction & Friendly Apps

Question

Task: The objective of this individual assessment submission is to learn how to develop your own business idea, complemented by research and observational insights that detail why the need is compelling. Please submit a 1500-word business report of your idea, a detailed business model (BM) canvas, discussion of the interrelationships among the BM components that are essential to success, critical risks and assumptions, and overall feasibility. The business model canvas must be discussed in the report and included as an appendix.
The assessment criteria are detailed below.
Assessment Criteria:
1. Effective explanation of the customer/market problem that needs solving and/or the reason the innovation is required. (15%)
2. Persuasive argument of the customer/client benefits to be generated by the idea (10%)
3. Discussion of the proposed business model (15%)
4. Identification and discussion of the key interrelationships in the BM that will support success of the idea (10%)
5. Critical success factors to be managed during execution of the idea (15%)
6. Identification of critical risks and assumptions (10%)
7. Evaluation of the overall feasibility of the idea (15%)
8. Quality of written submission, minimum 6 peer-reviewed journals, and APA referencing format (10%).

Answer

Executive Summary
The particular business idea assignment emphasizes on critical discussion of a business idea that prioritises the use of smartphones with the kids-based application and zero reaction technology. Most of the children get exposed to inappropriate content and violence while using smartphones. The radiation is harmful for the eyes of the children. In this context of business idea assignment, the business idea proposes a smartphone with only kids-based applications comprising of only entertainment games and education applications. The model of business canvas comprises of nine blocks which the makers will take into consideration for making the business successful. The critical success factors to be considered in the business idea within this business idea assignment are management of technical glitches and maintain a unique design. The critical risk factors refer to addictive issues and increased pressure on eyesight due to low screen resolution. The feasibility of the idea is justified through operational, financial, marketing, operational and environmental aspects.

Introduction
The primary purpose of the business idea assignment is to take the initiative of developing the business idea and further justify how the idea can be utilised for addressing the success of the consumers. The selected business idea for the particular business idea assignment is making mobiles for the kids’ section with zero reaction and kids-oriented applications. The business idea assignment will also be highlighting the prospective benefits available to the consumers as a result of the new business idea generation.

Consumer-oriented issues that require to be solved
The use of Smartphones is very much prevalent in the digital age. However, in the majority of the cases, kids handle the smartphones of parents for playing various games and surfing the internet to search for their desired information. While kids start off using smartphones by playing games, they often get exposed to nudity context, violence videos and cyberbullying in social media applications, which can have a drastic impact on the mentality of the children (Nath, 2018). Kids do not always have a sense of understanding what is right and wrong, often resulting in long term impact in the latter days. The radiation from cell phones is also harmful to the health of the children (Lofsten, 2016). The particular business idea will ensure the launching of smartphones with the inclusion of only kids-based applications and zero-reaction technology.

Consumer benefits expected upon underpinning of the business idea
The particular business idea explored in the business idea assignment will be particularly beneficial for the kids both in terms of entertainment and continuous learning development. The applications will be kids friendly in the sense it will contain only games for kids. The genre of the games will also be immune from the violence aspect so that it does not have any negative impact on child mentality (Tumkaya et al, 2016). Furthermore, various sorts of education application will be available on the smartphone so that students will gain knowledge about various educational subjects through video presentations and graphical illustrations (Yan, 2018). Minimisation of the radiation with zero reaction technology will attract the parents of the children for purchasing the product as it is inevitable that children will be spending lots of screen times while using a smartphone. Zero reaction technology will reduce harm to the eyes of the children despite using the product for prolonged hours.

Discussing the proposed model of business
An effective business model often contains needful information about the target consumers, potential partners, structure of cost, revenue generation of the business, proposition of value, relationship, respective channels, key resources and needful activities. As far the key partners are concerned, the makers can collaborate with eminent smartphone manufacturing companies in Australia such as Mintt and ZTE. The primary segment of the consumers outlined in this business idea assignment will be the children ageing between 6-14 years. The business idea will be particularly prospective for children having issues in their eye sights. While considering the value proposition aspect, it can be stated that radiation protecting glasses, parent control key and technical alarms will serve a prospective point of benefit for the consumers. Since kids will be using mobile phones, auto-checking and updating of the software will also be available in the particular smartphone (Yan, 2018). The key activities to be carried away will be comprising of manufacturing of the handsets, graphics and video designing of educational content, creative application in entertainment games, taking the reviews from the tech experts and management of instant repair services. For maintaining effective consumer relationship, it is mentioned in this business idea assignment that the makers will be taking active participation in taking consistent feedbacks from the information technology experts for resolving any issues related to hardware and software use of the smartphones (West, Ford & Ibrahim, 2015). The consumer connectivity can further be strengthened due to the conduction of a demonstration session for parents to use the smartphones. There will be the provision of 24*7 consumer assistance in case the consumer faces any issues while using the smartphones. As per the channels are concerned, the product will be available on several e-commerce sites, supermarket and variety stores. While referring to the cost structure, particular emphasis shall be given on planning of cost for the wages, manufacturing units, purchasing of raw materials and other forms of miscellaneous purchases. The makers will be making subsequent investments on marketing as well as promotions and events. The revenue generation of the company will be mainly dependent on transaction-oriented revenue and the streaming of the revenues will be dependent on the taxation system. The key resources needed for the successful implementation of the business ideas are machinery equipment, warehouses, R & D teams, testing facilities, technical software and processing-oriented machinery. Refer to Appendix 1 for the business model canvas within this business idea assignment.

Interconnectivity within the business model supporting the successful application of the business idea
For making a business idea successful, emphasis shall be given on connecting the building blocks of the proposed business model. If the markers can collaborate with eminent brand names in the field of smartphone manufacturing, it will have a positive impact on influencing the consumer segment (Terho et al. 2017). For making a business idea successful, one has to have adequate provision of the key resources depending on which the needful activities will be carried out by the marketers for creating awareness amongst the consumers. The readings prepared in the business idea assignment illustrates that the key activities carried out by the company will be ensuring that the desired product is in a position to addressing the untapped needs and preferences of the consumer segment. The value proposition of the product such as radiation protected classes and technology alarms will be highlighting the product utility which can be associated with establishment of effective consumer relationships with the consumers (Trugman, 2016). The customer relationships bettered through instant feedbacks fixing of hardware and software issues in the smartphone will be having a direct influence on the revenue generation of the company. Planning of the cost structure will be directly connected with the revenue streaming because depending on the overall structure of cost, the profit margin generated after selling the products can be calculated. The channels will be identifying the mode of selling the products to the prospective consumers, depending on which the total earning generated can be assumed as well.

Critical success factors considered for executing the business idea
The success of the business idea will be dependent on consideration of certain success factors within the competitive market as illustrated in the next section of business idea assignment.

Unique design for attracting consumers
A well-designed product always tends to attract consumers. In this context, it could be stated that the kid-friendly smartphone shall have an attractive colour design which can lure the kids; however, the body shall be hardy unlike the sleek smartphones of modern-day generations (Yan, 2018). Kids will not be very much confident of using the smartphone and the device can fall from their hand on numerous occasions, thus the product should be having scratch-proof as well. The size shall be portable with a wide array of colour options available to choose from. If the consumers have an option of choosing customised colours while purchasing the smartphones. The amalgamation of unique design attributes will serve as an added advantage for maintaining a strong consumer base.

Managing Technological Glitches
The kid based smartphone will be particularly helpful in attracting audiences by reducing the use of electromagnetic waves through minimisation of SAR rate. Fragopoulpolou et al. (2018) stated that RF technology will take active participation in reducing the level of radiofrequency for the children using smartphones. However, there have been persistent issues in regards to disconnect, poor sound quality and display issues as far smartphone usage is concerned. The technical issues mentioned in the business idea assignment come into existence mainly due to short-circuiting, improper wiring, liquid damage and low-quality use of software and hardware (Elsawy et al. 2019). The makers should be ensuring the fact that the newly launched product is immune from such technical glitches, which will indeed assist in attaining consumer trust.

What are the critical risk factors and assumptions in regards to the case scenario of business idea assignment?
While the business idea explored in the segments of business idea assignment tends to be innovative, there are certain risk factors associated with it as well.

Addictive Aspect
Irrespective of the fact the smartphone for the kids will be immune from exposure to any sort of cyberbullying or adult type of contents, it will not be able to put a control over the screen time spent by the children (Hardell, 2018). In this context, some of the parents might be hesitant in purchasing the smartphone because the mind of the student mind be diverted and they can get addicted to the game too much. It could be hampering their academic performance, which could serve as a negative aspect of the proposed business idea.

Increased pressure on eyesight
It is a known fact that the radiation of electromagnetic waves from smartphones could generate pressure on the eyesight. The specific business idea is aiming to launch the phone with radiation protected screen. Lowering of the radiation might be reducing the light and the visual effects of the smartphone for the kids (Lofsten, 2016). Therefore, pressure will automatically be created on the eyeballs of the kids trying to locate content on the smartphone. This could particularly harm children wearing high power glasses or having any other eye diseases. Thus, it is suggested to minimise the duration of using the particular smartphone.

Evaluating the feasibility of the business idea
The feasibility analysis of the business idea presented in this business idea assignment will ensure whether it can be translated into a successful application of the business practise or not. The idea is financially feasible because the product concept is new and if it finds public acceptance, the churning of healthy revenue will not be a challenge (Van Werven, Bouwmeester & Cornelissen, 2018). The market feasibility of the idea states that the particular idea will be addressing the untapped preference level of the target market, by launching kid based smartphones. Less emission of electromagnetic waves ensures the fact that the proposed business idea is financially feasible. The makers will be making effective utilisation of RF technology for preparing the kids smartphone; thus, the technological advancement will be a point of attraction for consumer marker. The operational feasibility justifies the fact that the implementation of the project is well fitted within the present structure of the business.

Conclusion
While concluding the above analysis on business idea assignment, it could be stated that the particular business idea will be successful in addressing the cognitive and entertainment requirements of the children. The kids-oriented application is assumed to be well accepted by the consumers; thus, the feasibility of the business can be justified. The business model canvas of business idea assignment illustrated the application of the nine blocks in ensuring the successful transformation of business ideas into real practice.

Reference
Elsawy, N., Elkholy, S., Azmy, R., Maher, E. A., & Shamloul, R. (2019). Electrophysiological Assessment of the Impact of Mobile Phone Radiation on Cognition in Persons with Epilepsy. Business idea assignment Journal of Clinical Neurophysiology, 36(2), 112-118.

Fragopoulou, A. F., Polyzos, A., Papadopoulou, M. D., Sansone, A., Manta, A. K., Balafas, E., & Stravopodis, D. J. (2018). Hippocampal lipidome and transcriptome profile alterations triggered by acute exposure of mice to GSM 1800 MH z mobile phone radiation: An exploratory study. Brain and behavior, 8(6), e01001.

Hardell, L., (2018). Effects of mobile phones on children's and adolescents' health: A commentary. Child development, 89(1), 137-140.

Lofsten, H., (2016). Business and innovation resources: Determinants for the survival of new technology-based firms. Management Decision, 54(1), 88-106.

Nath, A. (2018). Comprehensive Study on Negative Effects of Mobile Phone/Smart Phone on Human Health. International Journal of Innovative Research in Computer and Communication Engineering, 6(1), 575-581.

Terho, H., Eggert, A., Ulaga, W., Haas, A., & Böhm, E. (2017). Selling value in business markets: individual and organizational factors for turning the idea into action. Industrial Marketing Management, 66, 42-55.

Trugman. (2016). Understanding business valuation: A practical guide to valuing small to medium-sized businesses. John Wiley & Sons.

Tumkaya, L., Kalkan, Y., Bas, O., & Yilmaz, A. (2016). Mobile phone radiation during pubertal development has no effect on testicular histology in rats. Business idea assignment Toxicology and industrial health, 32(2), 328-336.

Van Werven, R., Bouwmeester, O., & Cornelissen, J. P. (2018). Pitching a business idea to investors: How new venture founders use micro-level rhetoric to achieve narrative plausibility and resonance. International Small Business Journal, 0266242618818249.

West, D. C., Ford, J., & Ibrahim, E. (2015). Strategic marketing: creating a competitive advantage. Oxford University Press, USA.

Yan, Z., (2018). Child and adolescent use of mobile phones: An unparalleled complex developmental phenomenon. Child development, 89(1), 5-16.

Appendix of business idea assignment
Appendix 1: Business Model Canvas