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Business Management Question
All students are required to submit their assignments via the MNG00314 SCU Blackboard learning site. Hard copies and email submissions will NOT be accepted and late submission penalties will apply to assignments that are not submitted on time via the specified Blackboard site.
Note that this is a guide only. Students may create a different structure or add particular sub-headings which they think are more appropriate for their entrepreneurial venture. Details of each individual section can be found in the text book. The marking criteria will also identify specific content that should be featured.
- Cover page
- Table of contents
- Executive Summary
- Introduction (what is the purpose of your report?)
- Description of the Entrepreneurial Venture (in most cases this is based on the early sections of your PP presentation).
- Management (style and structure)
- Marketing (to be covered only very briefly. This is not a marketing unit).
- Competitor analysis (most importantly, address how your venture will be positioned in relation to direct and indirect competitors).
- Financial Analysis
- Key risks and challenges
The Unit Information Guide indicates that the report should be no more than 2,000 words. Given the range of topics to be covered, this is going to be extremely difficult to achieve but like Assignment 1, you need to get your information across quickly and succinctly. Do not include the executive summary, bibliography and appendix in the word count.
Business Management Solution
The water utilities in Australia are subject to over 250 guidelines set forth by the National Health and Medical Research Council to restrict the amount of metal and microbes in water (McKinnell 2018). It is estimated that around 60% of Australians consume tap water. In this backdrop, there is a growing need for the use of purified drinking water in Australian households. This resulted in the entrepreneurial venture to launch a tap-mounted water filter. In this report, the description of the venture, the management structure of the organisation, marketing strategies to be adopted, competitive scenario, financial analysis and key risks and challenges involved are discussed.
2. Description of the Entrepreneurial Venture
Tap water is a basic necessity for a modern household. The Australian population is less likely to be affected by tap water. This is due to the stringent the Australian Drinking Water Guidelines which indicate that the water supplied to the populace should not contain harmful chemicals and pathogens, and it has to be appealing in terms appearance, taste and odour. Australia is considered as one of the model countries when the World Health Organisation set up water quality guidelines. Water authorities adopt different techniques such as settling, coagulation, filtration and disinfection to ensure the safety of drinking water as it is supplied through the pipe system (NHMRC 2017). However, the downside of this processing is the presence of the taste and smell of disinfectants used during the purification processes. Though this can be sorted out by setting the water in utensils, most of the people prefer a water filtering system.
2.1 Need for Water Filtering Systems
According to the survey of WSAA, 60% of Australians drink tap water. Around 40% drink bottled water which is preferred by fitness-conscious people (McKinnell 2018). Further, cultural factors influence people to avoid using tap water directly and to boil it for usage. People search for alternative filtering systems in the market due to various reasons. Chemicals used for disinfecting water have a negative effect on its taste. Sodium, potassium, fluoride and chloride ions are commonly found in drinking water (PSI Water Filters 2019). Heavy metal salts and nitrates, and traces of harmful pesticides are also rarely detected in typical drinking water supplies (Sharma & Bhattacharya 2017). Further, water travels through extensive and old pipe systems and often gets contaminated through impurities. There are likely contaminations from pesticides, and other impurities washed up into the water source such as bore-wells and rainwater storage tanks. The increase in knowledge about the constituents of water assists the customer in their decision process while determining the need for filtration.
There are various types of filtration system available (Appendix 1) at varying costs (Steen 2018). People look out for cost-effective filtering systems due to the cost involved in installing complex filtering systems, maintenance required and additional space occupied in the kitchen area. Apart from households, companies are investing in water purification systems and bottled waters to supply quality water to their employees at their workplace.
Hence, tap-mounted filters which are portable, cheap and require less maintenance is a suitable alternative to achieve cost-effectiveness at household for water purification.
2.2 Tap Filter – Product Feature
Tap mounted filters are the most convenient, small in size and easy to use and replace. This can be easily swapped between filtered and non-filtered water pipes based on the requirement. The major restriction would be the slow flow of water and adaptability to different tap models. It is priced between $25 to $100. It is a small unit that is attached to a tap to filter the water supplied through pipes. It is battery operated which can be recharged for half an hour and operates up to 8 hours. An indicator screen shows the filter capacity to determine the time for cleaning and replacement. Water flow can be adjusted between normal to shower based on the requirement such as filling bottles or cleaning vessels or washing vegetables and fruits. Water is filtered once the tap is turned on.