BUS357: (Starting and Managing a Business) You are required to analyse the information given above, and develop a Business Feasibility Assessment Report in a report format

Module / Subject / School:

BUS357: Starting and Managing a Business

Singapore University of Social Sciences (SUSS)

Requirements: 

Question 1

You and a team of likeminded friends are going to graduate from SUSS soon. All of you are eager to start a new business together, having gain invaluable knowledge from various SUSS business-related courses.

The idea is to setup a new social enterprise, “The Green Code” (TGC), focusing on recycling organic materials and waste, such as food scraps or expired food ingredients from households.

After brainstorming amongst yourselves and conducting a brief research of the market, it was agreed that the social enterprise would be based on community composting. With a greater public awareness and government’s call towards environmental sustainability, your team thinks that it is a good opportunity to get started.

According to the National Parks Board website, “Composting is a process in which organic material is broken down by bacteria and other microorganisms via decomposition. The resulting material is called compost, which can be used for gardening. Compost is a valuable soil additive for any garden, big or small. Mixing compost into your soil can improve drainage, increase organic matter and help your plants grow better.” (Source: https://www.nparks.gov.sg/gardening/gardening-resources/caring-for-plants/composting)

The business model of your social enterprise will be to setup community compost bins at designated locations in HDB flats to allow residents to deposit the various organic or food waste into the compost bins. At the compost bin, the participating resident will scan a QR code, which then launches the TGC mobile app to identify the person. After validating the identity of the resident, the bin will automatically open to deposit their waste. Residents will be paid in “Green$”, a point system which the resident can accumulate to exchange for shopping vouchers.

Every day, your company will have a staff on roster to inspect the bins and to replace the bins as necessary for the organic decomposition to take place. The resultant compost will be removed from the bins and sold as fertilisers to the horticultural market.

Two of your friends are trained in IT, and they would design and develop the first version of the website and mobile app. You and another marketing student would be looking into the commercial aspects of the business.

Each of you can commit up to $15,000 to the social enterprise, but without business track record and experience, obtaining bank loans and equity financing to fund your business would be extremely difficult and out of the question during the start-up phase.

Now, your team decides to appraise and validate and test the business idea using a Validation Board before embarking on the new venture, to be certain that this business idea is viable before further committing time and money into it.

Required:

You are required to analyse the information given above, and develop a Business Feasibility Assessment Report in a report format

What we score:

75%

Our Writer’s Comment 

This assignment is designed to assess students’ understanding of business practices.

To secure an A+ grade, adhere to these guidelines and make sure your work aligns with the grading criteria:

1. Executive Summary

Start your report with a clear and concise Executive Summary. This section should provide a brief overview of TGC’s business idea, the core problem it addresses, and the potential solution. Highlight key points such as:

• The problem: Environmental waste and sustainability concerns.
• The solution: Community composting through a mobile app and incentives for residents.
• Business model: Turning organic waste into compost, which will then be sold to the horticultural market.

Keep this section short but engaging. You want the reader to immediately understand the concept and the business’s unique value proposition.

2. Business Idea and Value Proposition

Here, you need to explain the core value proposition of TGC. Why should residents participate, and what’s in it for them? And what sets TGC apart from other sustainability initiatives?

• Green$ incentive: Mention how residents benefit from earning points that can be exchanged for shopping vouchers. This creates a sense of reward and motivation.
• Sustainability: Focus on the environmental impact—how the initiative helps residents contribute to sustainability efforts.
• Community engagement: Highlight how TGC fosters community participation and awareness of sustainable living.

Tip: Use the Value Proposition Canvas to clearly map out how TGC addresses customer pains and gains. This will strengthen your case for why TGC will appeal to residents and the horticultural market.

3. Market Analysis

This is a crucial section to show that your business idea is based on market demand and not just a good concept.

• Industry trends: Include data on the growing awareness of environmental sustainability and government support for recycling efforts. This sets the stage for why TGC is entering the market at the right time.
• Target market: Define your key customer segments, such as eco-conscious residents and local horticulture businesses. Who will benefit most from TGC’s composting initiative and the sale of compost?
• Competitor analysis: Identify competitors or other recycling programs. Highlight how TGC’s use of technology (QR codes, mobile apps) and incentives set it apart.

Tip: Be specific about the size of the market and the opportunity TGC has in both the local recycling and horticultural markets. You can include statistics or reports to support this.

4. Operational Feasibility

In this section, discuss the operational aspects of TGC.

• Technology: Your friends in IT will handle the mobile app and website development. Explain how the app will facilitate user engagement, track points, and simplify composting for residents.
• Logistics: Explain how the bins will be managed daily. What is the schedule for bin inspections and collection? Highlight the efficiency and consistency of your operational process.
• Compost production: Detail the process for turning organic waste into compost and how TGC will package and sell it to the horticultural market.

Tip: Use the Business Model Canvas to clearly outline key partners (e.g., local councils), key resources (bins, compost production equipment), and key activities (app development, bin management).

5. Financial Feasibility

Since your team can only contribute $15,000 each, and bank loans and equity financing are not an option, you need to:

• Budget the initial startup costs: app development, purchasing compost bins, marketing expenses, and staffing.
• Include projected revenue streams: sales of compost to the horticulture market and any potential partnerships or grants.
• Breakeven analysis: Estimate when TGC will start making a profit, considering the cost of maintaining operations versus revenue from selling compost and securing incentives.

Tip: Keep your projections realistic. Include an appendix with a simple financial forecast showing costs, revenue, and breakeven.

6. Risk Assessment

Here, you should address potential risks and challenges that TGC might face:

• Market acceptance: What if residents are slow to adopt the composting program? What incentives could you add to encourage participation?
• Operational risks: Could there be issues with managing the bins or app glitches? How will you handle technical problems?
• Financial risk: How will TGC stay financially viable if sales or participation are lower than expected?

Tip: Propose mitigation strategies for each risk. For example, offer early adopter incentives or run a pilot program to test the app and logistics.

7. Conclusion and Next Steps

End your report with a strong conclusion summarizing why TGC is a viable business opportunity. Emphasize the timeliness of the idea, the growing public awareness of sustainability, and the potential for community impact. Briefly outline the next steps, like app development, partnership building, or securing funding through grants or government support.

General Tips to Improve Your Score:

1. Use frameworks: Incorporate tools like the Business Model Canvas and Value Proposition Canvas to show a structured analysis.
2. Cite your sources: Include references to market research and government reports that support the demand for sustainability initiatives.
3. Be clear and concise: Stick to the word limit and make sure each section flows logically from one to the next.
4. Financial clarity: Ensure your financial projections are realistic and clearly show how TGC will grow and remain sustainable.
5. Add visuals: Use diagrams like the Business Model Canvas or breakeven analysis charts to support your analysis. This makes your report visually engaging and easier to follow.

By structuring your report with clear sections, grounding your analysis in research, and proposing realistic solutions, you’ll be well on your way to improving your score in future assignments!

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