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Transcript of Business Plan v1.6
UNIVERSITY OF TECHNOLOGY, SYDNEY
UTS Exo TechnologiesUpper Body Exoskeleton (Upper BEX)
Aldrich Chan – 10161952 Farhad Reza – 10487193Michael Kim – 10434001
Contributions on each section we equal – Please divide mark equally[06/11/09]
UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Table of ContentTable of Content.............................................................................................................2
Table of Tables...............................................................................................................4Table of Figures.............................................................................................................4Executive Summary.......................................................................................................51 Mission Statement..................................................................................................62 Objectives...............................................................................................................63 Background............................................................................................................74 Organisational Overview.......................................................................................85 Product/Service Overview.....................................................................................96 Value Chain Analysis – Company.......................................................................107 Strengths, Weaknesses, Opportunities & Threats (SWOT).................................13
7.1 Opportunity..................................................................................................137.2 Problem & Solution......................................................................................147.3 Customer Value Proposition........................................................................15
Market Analysis...........................................................................................................167.4 Market Size..................................................................................................167.5 Market Trends..............................................................................................187.6 Market Attractiveness..................................................................................18
8 Competitive Analysis...........................................................................................198.1 Customers.....................................................................................................19
8.1.1 Segmentation – Demographic Profiling Business................................228.1.2 Segmentation – Geographic Profiling..................................................228.1.3 Segmentation – Product Usage Profiling.............................................228.1.4 Segmentation – Psychographic Profiling Businesses..........................238.1.5 Buying Influence Profiling in Roads & bridge maintenance...............24
8.2 Competitors..................................................................................................248.3 Cyberdyne HAL – 5 - SWOT Analysis.......................................................278.4 Cyberdyne Hal-5 Competitive Advantage...................................................278.5 Cyberdyne Hal-5 - Product Strategy............................................................288.6 Raytheon SARCOS - SWOT Analysis........................................................298.7 Raytheon SARCOS - Competitive Advantage............................................298.8 Raytheon SARCOS - Product Strategy........................................................308.9 UTS CAS Autonomous Sand Blaster - SWOT Analysis.............................318.10 UTS CAS Autonomous Sand Blaster - Competitive Advantage.................318.11 UTS CAS Autonomous Sand Blaster - Product Strategy............................328.12 Suppliers.......................................................................................................338.13 Entrants........................................................................................................348.14 Substitutes....................................................................................................368.15 Key Success Factors.....................................................................................37
9 Environmental Analysis.......................................................................................389.1 Regulatory Influences..................................................................................389.2 Economic Influences....................................................................................389.3 Societal Influences.......................................................................................409.4 Technological Influences.............................................................................41
10 Vision Statement..............................................................................................4311 Marketing Plan.................................................................................................44
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
11.1 Product/Service............................................................................................4511.1.1 Product Development...........................................................................4511.1.2 Technical Advantage............................................................................4511.1.3 Proprietary Advantage.........................................................................4511.1.4 Packaging.............................................................................................46
11.2 Price..............................................................................................................4711.3 Promotion.....................................................................................................47
11.3.1 Advertising...........................................................................................4811.3.2 Trade conferences, expos & exhibitions..............................................4811.3.3 Direct Mail & Telemarketing...............................................................4911.3.4 Company Website................................................................................5011.3.5 Internet Advertising.............................................................................5011.3.6 E-mail...................................................................................................5111.3.7 Network Marketing..............................................................................5111.3.8 Promotion Strategy Schedule...............................................................51
11.4 Distribution..................................................................................................5211.4.1 Channels...............................................................................................5311.4.2 Direct Sales Force................................................................................53
12 Operations Plan................................................................................................5412.1 Sourcing.......................................................................................................5412.2 Production....................................................................................................54
12.2.1 Facilities...............................................................................................5412.2.2 Labour..................................................................................................5512.2.3 Inventory..............................................................................................55
12.3 Service..........................................................................................................5512.4 Administration..............................................................................................55
13 Organisation (Personnel) Plan..........................................................................5713.1 Organisation Structure.................................................................................5713.2 Compensation...............................................................................................57
14 Financial Plan...................................................................................................5814.1 Financial Assumptions.................................................................................5814.2 Financial Statements....................................................................................58
14.2.1 Profit & Loss........................................................................................5814.2.2 Capital Budget......................................................................................5814.2.3 Cash Flow.............................................................................................5814.2.4 Balance Sheet.......................................................................................59
14.3 Financial Analysis........................................................................................5914.3.1 Beak Even Analysis.............................................................................5914.3.2 Ratio Analysis......................................................................................5914.3.3 Sensitivity Analysis..............................................................................60
14.4 Offer.............................................................................................................6014.4.1 Funding................................................................................................6014.4.2 Harvest.................................................................................................60
15 Risk and Critical Issues....................................................................................6216 Recommendations............................................................................................6217 References........................................................................................................64
Table of Tables
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Table 1 UTS Exo Technologies - Upper BEX - SWOT Analysis...............................13
Table 2 Business Demographic Profile – Roads & Bridge Maintenance....................22Table 3 Top 20% of customer (Assuming product has been release and an estimation of spend).......................................................................................................................23Table 4 Buying Influence Profiling..............................................................................24Table 5 Cyberdyne HAL – 5 - SWOT Analysis..........................................................27Table 6 Cyberdyne Hal-5 - Product Strategy...............................................................28Table 7 Raytheon SARCOS - SWOT Analysis...........................................................29Table 8 Raytheon SARCOS - Product Strategy...........................................................30Table 9 UTS CAS Autonomous Sand Blaster - SWOT Analysis................................31Table 10 UTS CAS Autonomous Sand Blaster - Product Strategy.............................32Table 11 Promotion Strategy Schedule Summary.......................................................51
Table of FiguresFigure 1 Michael Porter's Value Chain model.............................................................10Figure 2 Graph of bridges by material in Victoria (Source: Vic Roads, 2009)...........17Figure 3 Graph of the maintenance expenditure $M (Source: Sumitomo, 2009)........17Figure 4 Competitive Analysis Diagram......................................................................19Figure 5 Primary targets eastern seaboard of Ausralia................................................22Figure 6 Age and Condition of Bridges (Source: Vic Roads, 2009)...........................41
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
1 Executive Summary
Opportunity
Product
Company Background
Market
Competitive Advantage
Team
Strategy
Economics
Offer
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
2 Mission StatementThe UTS EXO Technologies mission is to eliminate physical fatigue in labouring
tasks by providing an aid in the form of an exoskeleton suit. The suit will enhance
productivity and efficiency. The exoskeleton is locally designed, tested and
manufactured. The organisations targeted will be NSW Roads and Traffic Authority,
Vic Roads and QLD Department of Transport.
3 ObjectivesUTS Exo Technologies plan to execute a strategy that will go on for the next 5 years
in order to meet our objectives. In this 5 year strategies, targets have to be completed
or monitored to ensure a successful company. The company’s financial objectives are
to have a steady revenue growth and to achieve a break even point at the 3rd quarter of
the 3rd year, allowing the company to gain profits from this point. This will mean that
the RTA contract needs to be landed in the 1st or 2nd year. The Vic Roads contract
needs to be signed in the 2nd or 3rd year in order to achieve this break even point. The
marketing objectives are to provide dominating product innovation. To gain the
contract of the provider of exoskeleton units to the RTA, Vic Roads and the other
road authorities making the company the only market share holder. The operations
objectives are to provide high quality customer service, warranty and on time
deliverables while becoming a technology leader in this industry. The organisation
objectives are to provide technical expertise while being flexible and tailoring to
needs of the customers. The satisfied customers will then provide testimonials with
will be beneficial to marketing the exoskeleton suit to future customers.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
4 BackgroundIn Australia there are in total 30,000 road and rail bridges, of these bridges 15~20%
are steel bridges. Bridges in general are aging and is apart of an important
infrastructure towards Australia. These maintenance work on these bridges require the
old paint, rust or other build up to be removed before another application of paint is to
reapplied to the bridge to protect it for another 5 years.
The process in removing the old paint, rust and other foreign material is by using a
process called abrasive blasting. This process involves a motor and a compressor to
pump out at high pressure, particles that attack the surfaces of the directed area.
The problem or issues is that due to this high pressure the exit nozzle when operating
exerts a force of 100 Newtons which is equivalent to 10kg to the operator. The Nozzle
and the hose also weights about 5~10kg. The operation requires on operator and a
second operator to aid in handling the hose. It is physically impossible for the
operator to be continuously performing this task for more then 30mins as the forces
from the equipment and the vibrations that causes physical fatigue to the operator’s
limbs and body. The process is a slow process and the bridges are large.
This problem has been made aware and being a government organisation the unions
has requested that operator must not operate the equipment for any periods longer
then that of 30mins. This has meant that the productivity and efficiency is poor.
A solution is currently being developed by the UTS students and staff led by
Professor Dikai Liu in developing an upper body exoskeleton (Upper BEX), which
began July 2009. This exoskeleton will be powered and provide aid to the user. The
aided power will be that the user only provides 1-35% of force and the exoskeleton
provides the other 65-99% force.
The exoskeleton is a new niche product, thus there is no market of its own. The
primary market that this exoskeleton is aimed at is the infrastructure maintenance.
More specifically the Roads & Bridges Maintenance Market.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
5 Organisational OverviewDescribe company’s shareholder structure.
Detail the existing organisation structure.
List experience and capabilities of the current organisation.
Examine the company culture.
The organisation structure should be a flat structure with little hierarchy. This
structure promotes innovation and creativity in the employees as they have a sense of
power and there is little power struggle or intimidation from fellow colleagues or
peers.
The experiences and capabilities of the current organisation are limited to Research &
Development. The promotional, sales and distribution are limited meaning that
involvement of managers that have experience in introduction newly developed
products in to new markets as this is an opportunistic diversification and is associated
with high risks and high uncertainties. To minimise this experienced experts that have
the knowledge, creativity, intuition and strategy have been hired to minimise the risk
and uncertainties.
The company culture is very institutionalised and formal as the Research &
Development team are university professors, PHD research students, graduate and
undergraduate students. Exoskeleton design requires creative and innovative thinking
which an institutional and formal company culture does not provide. The organisation
culture needs to take one that is similar to Google. The freedom and unrestricted
policy allows the employees and management to be creativity and innovative in
design.
Presently the company has no shareholder structure that has been put in place but that
is something that will be address in this business plan in the following section.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
6 Product/Service Overview
List of current products/services.
Identify the features and benefits of existing products/services.
Describe unique product/service features and how these add significant value.
Identify intellectual property that exists in the organisation.
Outline any royalty, licensing, franchising and distribution agreements for the existing
products/services.
Describe and contractual agreements that provide exclusivity or proprietary right.
List the types of products liability insurance, amount of coverage needed and costs of
production.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
7 Value Chain Analysis – CompanyIn this section it will show the analysis of the company’s value chain and which areas
that can be focused on in order to minimise cost and increase profits. This analysis is
a general analysis as the exoskeleton is still in development yet to be introduction to
the public.
Figure 1 Michael Porter's Value Chain model
Organisation Infrastructure
An infrastructure has yet to be established as the product is currently still in the
process of being developed. A couple of criterions will be an implementation of a
good ERP system which is similar or comparable to other companies in the industry.
The other will require the company to have managing directors, strategic & product
management, legal, finance, accounting, public relations and quality assurance
departments that an work in harmony and together. These individuals and department
must have the right attitude and ethics meaning that they might not necessarily be the
best if the can not cooperate with other others.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Human Resource Management
A good framework will be required as the costs involved in recruitment, training out
weights the cost of developing a awards or incentive program for employees &
management.
Technology
This product and service that the exoskeleton provides requires continual and constant
research and development of the existing technology, different alternatives and
potential future technologies. The exoskeleton will also require continual
investigation, assessment and analysis to ensure that maximum comfort is reached on
all users of all sizes.
If R&D cost can be kept to a minimal with out restricting the creativity,
innovativeness of the team then this area can be a huge cost saver and this inturn will
increase the margin.
Procurement
Good team and management is required in sourcing and negotiating the minimalist
price for the raw materials, goods or services. This will increase the profit margin for
the exoskeleton.
Inbound Logistics
This product & service will be made to order once the customer has placed a deposit.
This product will operate on a pull manufacturing strategy, as it is still in the
development and introduction stages. This pull system will rely heavy on the correct
ERP system to be emplaced to so customer order what is expected to be coming from
an existing order and what we need to order from suppliers. .
Operations
The operation will work on a lean manufacturing system with will most resemble that
of a pull manufacturing system. The quality assurance will rely on employees,
engineers and management to follow Six Sigma methodologies in manufacturing.
There will be no production line but a assembly shop will be required like that of a
assembly hanger for Being and Airbus.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Having the right operation will be required to ensure that costs are kept minimal and it
is the right operation for this product.
Outbound Logistics
As the demands from customers presently are low and orders are not consistent, the
delivery of the product can be done by the engineers or even third party couriers. The
benefits of in house delivery; care will be taken, unpacking the product on delivery, re
demonstrate, educate and verification that the product is functional upon delivery.
Marketing & Sales
This product is still in the development stages and there also have not been any
competitors or similar product that has been released on to the market yet. This means
the modifying or copying is out of the question and the right plan needs to be in place
so attract buyers to commit, this will be through the use of promotions, distribution,
price, product and service.
Service
In the initial stages service such as customer support and repair service is not an issue.
The volume we expect to sell in the first few years should not excess the capacity of
the engineers and the other technical staffs’ ability to assist. Once the R&D and
production staff are spending in excess of about 25% of their time assisting in service
to existing customers a new department or division will be setup to handle the support
and repair issues.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
8 Strengths, Weaknesses, Opportunities & Threats (SWOT)
Table 1 UTS Exo Technologies - Upper BEX - SWOT AnalysisStrengths Weaknesses
Simple Upper body unit-enhances arms
and torso strength and endurance Locally designed University innovativeness Locally manufactured and
assembled Australian developed and owned
Weight of the suit; no lower limb aid
Formal and institutionalised structure and culture.
No third party funding Lack of marketing & sales
industry experience to mitigate these risks make partner with an entrepreneur to this venture with marketing and sales know-how
Opportunities Threats Expand to new markets, materials
handling, medical and others Build up on existing knowledge
and technology, i.e. lower body suit.
Penetrating a new market- replacing man power with robotics
Market development Develop new feature to infiltrate
new avenues for the Exo-Suit Diversification of technology to
assist other industries
Competitors developing a similar product.
Competitor entering the same market.
Specialising too much on a market that has limited customers.
Strategy might be too narrow and neglect other potential markets.
New technologies are hard to keep up with, in respect to development cost and time.
8.1 OpportunityWe intend to monopolise New South Wales State’s road and bridge maintenance
market within 2 years after inauguration. Then moving to Queensland and Victoria,
and other states will follow suit. Time to establish our dominance in a new market
(state) should decease as clientele list expands. This will allow the University to
gather additional funding for future research. Exoskeleton can be developed,
compiling new features to our first commercial suit, sophisticating our Exoskeleton.
Ultimate vision for our innovation is diversifying Exoskeleton’s applications,
broadening market options. The success of our roads and bridge maintenance will act
as a catalyst in our interactions with smaller government organisations and private
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
enterprises. Alternate sectors we intend to infiltrate are materials handling, farming,
medical rehabilitation and elderly care.
As there are no competitors today, once NSW state road and bridge maintenance has
been deemed successful, it will be easy to infiltrate other states. Only problem with
this plan would be new entrants from other universities and other researching firms.
This is a low risk at this stage as research and development of such innovations can be
lengthy and costly.
Domestically we do not see a threat from other entrants, however with Japan and
United States of America already developing exoskeletons, potentially penetrating our
proposed markets. Most of the US researchers have exclusive contracts with the
military, thus it is highly unlikely for them to change their suit’s application.
Japan’s Cyberdyne Hal 5 is a domestic suit that is already on the market and with
performance specifications that is close to ours. Competing in Australia will skew the
competitive advantage to our half. Both products priced very competitively, $10,000;
but Hal 5 possesses one significant technical advantage; Hal 5 has lower limb support.
But with income stream created from initial commercialisation; RTA NSW, we can
extend our suit to support lower half of the body.
The problem
8.2 Problem & SolutionThe problem or issues is that the road and bridge maintenance organisations face is
the level of occupational health and safety concerns about the abrasive blasting
process. The cause is the high pressure that is exerted from the nozzle when operating.
The nozzle and the hose also provide a weight force. The operation requires on
operator and a second operator to aid in handling the hose. It is physically impossible
for the operator to be continuously performing this task for more then 30mins. The
forces from the equipment and vibrations cause physical fatigue to the operator’s
limbs and body. The process is slow and the bridges are large areas.
This problem has been made aware and being a government organisation the unions
has requested that operator must not operate the equipment for any periods longer
then that of 30mins. This has meant that the productivity and efficiency is poor.
A solution is currently being developed by the UTS students and staff led by
Professor Dikai Liu in developing an upper body exoskeleton (Upper EXOS), which
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
began July 2009. This exoskeleton will be powered and provide aid to the user. The
aided power will be that the user only provides 1-35% of force and the exoskeleton
provides the other 65-99% force.
8.3 Customer Value PropositionThe customers
The customers will see the benefits of the exoskeleton and the solutions that it can
provide to problems. Problems either in the roads and maintenance or other industries
like materials handling and medical industries. The benefits will out weight the cost of
the unit. The complexity of the unit will be visually seen to give the customer added
sense of value.
The unique selling proposition will be that fact that it is a new niche product that has
yet to penetrate the market in a large scale. There are currently only 3 competitors
developing the technology and there are 2 more companies that are researching
similar technologies. This creates a unique and intriguing product that provides a
solution to problem and has benefits that out weight the costs.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Market AnalysisAs mentioned in the previous section the targeted market initially will and the eastern
region of Australia. The market is sectioned to state and local council markets. The
specific geographic region will be QLD, NSW and VIC where ever there is a steel
bridge this primarily location where water ways are or valleys.
8.4 Market Size Australia has an estimated 30 000 road and rail bridges.
NSW has 4998 bridges and the RTA looks after all of them.
NSW government plans to spend $57.6 Billion from 2008 to 2011.
RTA NSW spent $2.2 Billion in 2008-09 fiscal, to develop, and manage roads
and bridges.
In bridgework alone the RTA spends $30 million in maintenance costs.
In 2005 Queensland government proposed to spend $350 million to replace
old bridges over the next five years, (till 2010).
Sydney Harbour Bridge’s annual maintenance cost around $5million.
Vic Roads has about 3000 bridges in total and about 17% of them are steel.
This 17% means that there are approximately about 500 steel road bridges.
The steel bridge maintenance does not finish with road bridges but also
railway bridges and pedestrian bridges.
The market initially will be regional, expanding to state and then national.
NSW, VIC and QLD together spend about $159 million, which is about 70%
of Australia’s bridge maintenance expenditure.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Figure 2 Graph of bridges by material in Victoria (Source: Vic Roads, 2009)
Figure 3 Graph of the maintenance expenditure $M (Source: Sumitomo, 2009)
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
8.5 Market Trends
Exoskeleton technology is in its introduction stages, no direct standards to
demonstrate.
An indirect correspondence to exoskeleton is industrial robots.
Robotic industry- continually growing
8.6 Market Attractiveness
Abrasive blasting is the most expensive process in maintaining steel bridges.
Time consuming, operator’s fatigue-cancelled out as exoskeleton -
shortening time to complete the abrasive blasting,
Maintenance on steel bridges are continuous, an all-year round process.
The market is moderately attractive as there are no present solutions for the
issues the face the maintenance staff. This industry spends a lot of money each
year as this industry is a necessity part of a developed nation’s infrastructure.
This means that a need is always going to be present and that there is not
going to be a decline in activity.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
9 Competitive Analysis
Figure 4 Competitive Analysis Diagram
9.1 Customers
The primary industry as mentioned that the exoskeleton will be trying to enter will be
the Roads maintenance market. This industry has a lot of occupational health and
safety requirements meaning that the processes or productivity are slow as rest
periods are mandatory as the level of forces, stresses and strain place on the muscles
mean it is physically impossible for any person to use manual labour excessive length
of periods. The classifications of customers are varied as this is a new product. The
user and influencer will find the product useful that then has to convince the decider.
The decider will ask for the aid of the screener to provide an analysis of the product in
a form of a cost benefit analysis.
The primary target market will be roads and bridge maintenance services. The
customers are government road authority organisations of each state and territory.
These organisations are RTA NSW, VIC Roads, QLD Department of Transport and
Main Roads, WA Main Roads, NT Transport Group, SA Transport, TAS Transport
and TAMS ACT.
In NSW the RTA maintains 50% of the roads and the other 50% councils and private
contractors provide the maintenance. This will be very similar in the other states and
territories. So the segmentation of business is a few but they have money to spend on
necessary equipment.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Concentration of customers relative to the supplier industry
The product being new and a niche product marketing to a specific industry is
required. The initial industry being the roads & civil infrastructure
maintenance industry.
The product in the innovators stage meaning that the concentration of
customers are relatively few but as the product continues on the product
lifecycle the concentration of customers are endless as this product can be
adapted to any industry.
The servicing and maintenance of roads and civil structures many have a few
customers but these customer are the type that will spend large amounts of
money if they see the benefits of the product.
Volume of purchase
The volume of purchase will range from anywhere from 1 unit and above as
this number is dependant of the amount of profits the company takes in a year
and the level of productivity that the suit will offer.
The volume of purchases will vary for each industry, hospitals may require a
large volume of units for there rehabilitation wards.
Standardisation of customer
Being only an upper body exoskeleton suit there are limitations on the
capabilities. These capabilities are that the suit it self has a limited force it can
aid the user as there is no lower support structure to provide a supportive
reactive force.
The unit has been designed to meet the standard requirements of customers.
The customers are well defined but if product were to expand into other
industries alteration will be required which are also quite standardised.
For the roads and civil structure service and maintenance industry the
requirements are quite standardised with slow to reasonable pace motion that
will allow the user to argument limbs in safety working positions with little
effort.
Product saturation
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Product saturation will not be of any concern at present as this is a niche
product and it is not classified as a fast moving consumer good.
The product life cycle to reach product saturation point will be decades away.
Once the industry has reached saturation point the product can easily expand
in to other industries
Most potential customers have not used the product resulting it being
favourable.
Customers’ knowledge about suppliers’ cost structure.
For this product the customer has little to no understanding of the cost
structure that is involved in the R&D, testing, verification, supplier
manufacturing and assembly of the product.
Threat of backward integration by customers
Customers will not be able to backward integrate as the amount of technical
knowledge required are beyond most customers. The amount of coding and
design and testing costs out weights the cost of purchasing a turnkey suit.
Customer cost savings or enhanced satisfaction from the supplier’s product
The cost saving will be the efficiency and productivity using the suit compared
to without the suit.
The cost saving in minimising the health and safety incidents when users use
the suit to aid in the daily operations as an aid.
Customers’ capacity for surpluses or shortages
As this product will be a made to order product, a fast production time will be
require with minimal waiting periods.
As this is a niche product it is uncertain what if there is any seasonality in
sales or demand. The mostly likely demand will be period will be at the end of
financial year when companies have money to spend.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
9.1.1 Segmentation – Demographic Profiling BusinessTable 2 Business Demographic Profile – Roads & Bridge MaintenanceBusiness Type Construction & maintenance service
Turnover n/a as it is a government organisation
But the NSW RTA spend $30 million a year on road
maintenance
No. Employees n/a
Geographic
Location
Eastern Australia – NSW, QLD & VIC
9.1.2 Segmentation – Geographic Profiling
Figure 5 Primary targets eastern seaboard of Ausralia.
9.1.3 Segmentation – Product Usage Profiling
Product usage ranking – Roads & Bridge Maintenance
The product will be used at an estimate time period of 1 month, however once
one steel bridge have finish the road authorities will proceed to another so the
usage will be all year round.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
The customers are mostly government roads authority departments which
roughly look after 50% of the maintenance works.
The other major organisation is the local councils who look after 45% of the
maintenance
The other 5% are private contractors.
Table 3 Top 20% of customer (Assuming product has been release and an estimation of spend)Average Spend per Order $10,000
Average Orders per Year 5
Average Duration of Customer n/a
The usage classification of customers will be “A class” types that are loyal customers,
there will also be “D class” users which are the non users
9.1.4 Segmentation – Psychographic Profiling Businesses
The value and criteria points to influence sale
Compile with WorkCover, OH&S and Australian Standards
High quality
Reasonable price to performance.
Improvement on efficiency, productivity
Backed by WorkCover, OH&S, worker and unions
Sales cycle
Direct or door to door sales
Demonstration
Negotiations (Go on for a few months before a final approval)
Closing of sale
Initial deposit
Order, manufacture parts (up to 1 month)
Assembly (2 weeks)
Quality assurance and validation (2 weeks)
Delivery (1 – 2 weeks)
Tutorials and instructions (1 week)
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Final payment at the end of the month.
9.1.5 Buying Influence Profiling in Roads & bridge maintenanceTable 4 Buying Influence Profiling
User Roads maintenance labours
Decider Financial Department manager, Board of directors
Screener Accountants, Financial department, Engineers, Legal
9.2 Competitors
There are a number of competitors but each of the exoskeleton suits are design for
specific functions or applications. The industry is new and the competitors are
complacent and are just researching and developing the suit according the specified
applications or industries. It is too early to tell what directions the competitors will
take as there are no one designs that has been label the optimal design. On an overall
perspective the competitors are favourable as they are no ruthless competition
between company and products. Each of the products has the unique features that
differentiate the product from the next. The exoskeleton industry is still in the
innovative stage of the product life cycle and the concentration of each competitor is
at different markets from medical, material handling, maintenance and military. Being
still in the innovative stages the industry consolidation is non existent as each
company is still in the R&D phase and now innovative design has been agreed on.
Competitive posture
Competitors are more complacent, as most are in its development stages.
Most competitors are trying to establish their own position within the market
by differentiating exoskeleton’s applications to their competitors.
Market capacity
Most of the developers have not released their exoskeletons, with the
exception of Cyberdyne.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
The market or product cycle is still in the initial innovative stages meaning
that demand is not high and the is product is not a fast moving consumer good
the order is place before build.
The market share of competitors is still relatively new so there is no real data
to draw from about market share.
Vertical Integration
At this stage it is highly unlikely that competitors will have mass number of
suppliers or start to vertically integrate its supply chain, as this will increase
capital costs.
Number of competitors
There are 3 indirect competitors,
UC Berkley/ Lockheed Martin’s HULC,
SARCOS/Raytheon’s XOS Exoskeleton, and
Cyberdyne’s Hal 5.
Pricing basis
Demand based pricing is applied to this industry. These exoskeletons are
tailored to perform constricted tasks, eg, military or to aid mobility.
Mergers and acquisitions
SARCOS an American robotics company initially developed the system. The
rights for the system have been brought out by Raytheon, which is an
American Defence contractor.
There has been virtually no mergers or acquisitions in this industry as this
industry is still largely in the research and development stages and all
competitors or companies are venturing on their own path.
Exit Barriers
Some companies who are contracted to military industries like Raytheon and
UC Berkley find it harder to exit the market.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Exiting barriers for companies are relatively easily and if a contract is
involved then usually it is a timed period contract or there is an underlying
agreement that the knowledge gained by the contracted company must be then
pasted back to the company.
Differentiation
Each competitor’s exoskeleton offers different features and applications to on another.
Industrial and commercial aid
The UTS upper body exoskeleton suit is primarily targeted at the
Roads and civil structures servicing and maintenance industry with the
potential of expanding into abattoir industry.
Military
University of California, Berkley (UC Berkley)/ Lockheed Martin’s
Human Universal Load Carrier (HULC) only supports the lower body
to aid backpack loads on soldiers.
Raytheon’s XOS Exoskeleton is a full body suit that emphasises gains
in overall body strength, endurance, and it has also been developed to
be agile, creating “Iron Man” like soldiers.
Personal Mobility Aid
Cyberdyne’s HAL 5 is a full body suit that aids mobility to the public.
Unlike the Raytheon’s suit this is a weaker suit that handles less
weight.
Competitor resources
Competitors are regional organisations with links to its local national
governments.
Concentration
New market with only one system available, Cyberdyne’s Hal 5 exoskeleton
suit. Hal 5 is only available in Japan with a limited run of 400 suits, (2006).
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
9.3 Cyberdyne HAL– 5 - SWOT AnalysisTable 5 Cyberdyne HAL – 5 - SWOT AnalysisStrengths Weaknesses
Allows physically week or injured people to gain more mobility and perform rehabilitation exercises.
Incorporation of an additional upper body system in HAL-5 allows user to lift up to 40 kg more than they normally could.
Hal-5 only weights 21kg making and since it is self supporting the wearers don’t feel the weight much.
The availability to lease Hal-5 will allow the user to exchange the Hal-5 for newer version as the technology improves.
Once charged the Hal-5 can only operate for 2 hours and 40 minutes.
The Hal-5 mainly build for people with disability
Opportunities Threats Further development will allow
HALL-5 to use in rescue mission and allow user to again access in over debris-strewn and rugged terrain.
Competitors may develop more efficient and less expensive device.
Delay in releasing product with advance technology may cause initial market loss.
9.4 Cyberdyne Hal-5 Competitive Advantage
Product portfolio is strong as Hal-5 could be used for various purposes.
The reasonable pricing makes Hal-5 attracts more customer.
The frame of HAL-5 structure is made from aluminium alloy making it more
durable than any other similar products.
The ability to hire Hal-5 allows user to exchange the Hal-5 for newer version.
This gives a strong competitive advantage over other exoskeleton Robotic
system.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
9.5 Cyberdyne Hal-5 - Product StrategyTable 6 Cyberdyne Hal-5 - Product StrategyProduct Strategy How?Product positioning(Target Market, Pricing)
Lower cost & to the rehabilitation, medical and age health care industry.
Product proliferation
N/A
Value Hal-5 is a full-body suit with electrical actuators designed to help elderly and disabled people to work
Design (aesthetics) Hal-5 a sleek appearances that is futuristicInnovation Lightweight, components are not bulkyService Still in the process of developing but it would be assumed that
the servicing will be included into the price of the unit for a period of time. Or if they lease the equipment then the servicing will be a contractual agreement of maintenance.
Distribution Direct selling, made to orderPromotion Trade expo, conferences, word of mouth, journal, magazines,
press release, YouTube and InternetGeographical Locations
Japan
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
9.6 Raytheon SARCOS - SWOT AnalysisTable 7 Raytheon SARCOS - SWOT AnalysisStrengths Weaknesses
Raytheon is a major military contractor, with 2007 sales of $21.3 billion.
Full body suit, aids lower and upper body.
Most like the Marvel comic character, “Iron Man”.
Enhances strength and endurance with substantial agility.
Technical specification significantly advanced than any other exoskeleton.
Lightweight aluminium used in construction, weights 68kg.
Technology too advanced for release anytime soon.
Power supplied via fixed source. Bulky design.
Opportunities Threats Potential to develop a fictional
character to life. Ultimate combating suit.
As Raytheon has a contract to develop the suit for the US Army.
Hal 5 already on the market providing similar application.
UC Berkley’s HULC has a simpler design may be released much sooner than Raytheon.
9.7 Raytheon SARCOS - Competitive Advantage
Provides a higher ratio of user force to the end force as this is for military use.
This fully body suit allows the operator to move 200 pound (approx. 91 kg)
weight with minimal effort.
In terms of innovation and technology, Raytheon is a world leader.
Military funding
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
9.8 Raytheon SARCOS - Product StrategyTable 8 Raytheon SARCOS - Product StrategyProduct Strategy How?Product positioning(Target Market, Pricing)
Expensive, Military, Heavy Duty, Industrial use.
Product proliferation
N/A
Value Satisfying the customer by the performance, efficiency and productivity aspect of the operation.
Design (aesthetics) Original and futuristic design that engineers a comic book hero to life.
Innovation User only has to provide little force on to the sensors and the exoskeleton suit will provide the additional force. A force of 200 pounds can be easily be provided by the exoskeleton suit.
Service Still in the process of developing but it would be assumed that the servicing will be included into the price of the unit for a period of time. Or if they lease the equipment then the servicing will be a contractual agreement of maintenance.
Distribution Direct selling, made to orderPromotion Trade expo, conferences, word of mouth, journal, magazines,
press release, YouTube and InternetGeographical Locations
United States of America
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
9.9 UTS CAS Autonomous Sand Blaster - SWOT AnalysisTable 9 UTS CAS Autonomous Sand Blaster - SWOT AnalysisStrengths Weaknesses
Autonomous No# 1 productivity rate Operating 24/7 Eliminates work cover, health &
safety hazards and issues.
Relies on a track guide to run on Autonomous sensors may miss
surfaces that need to be sand blasted.
The robot will still need to be operated by 2 men.
The robot might not be able to reach certain areas or angles.
The autonomous robot might get jammed.
Opportunities Threats Accepted quickly as the better
alternative of to original manual method.
It has a head start into the market ensuring allowing it the system to potentially capture a large portion of the market before the final design is released on the exoskeleton.
The autonomous robot has the time to debug or fix any problems and issues.
Unable to capture large enough customers.
The system is unable to autonomously sand blast all bridge designs.
The system can not autonomously complete the job to a level that the customer requires.
Set up time too long Track that need to laid do not fit
9.10 UTS CAS Autonomous Sand Blaster - Competitive Advantage
Fully autonomous
Eliminates health and safety hazards and issues.
Able to run 24 hours and 7 days a week.
Automated robots are very accepted in today’s society were as an exoskeleton
is still relatively new and might not be take on board as quickly as an
autonomous robot.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
9.11 UTS CAS Autonomous Sand Blaster - Product StrategyTable 10 UTS CAS Autonomous Sand Blaster - Product StrategyProduct Strategy How?Product positioning(Target Market, Pricing)
This is a substitute product/service. Middle range in price and target market will be RTA road maintenance contactors.
Product proliferation
N/A
Value Satisfying the customer by the performance, efficiency and productivity aspect of the operation.
Design (aesthetics) N/AInnovation The first solution to the problem and issues that face the roads
and civil structures servicing staff of health and safety as there is too much stress on muscles on holding the nozzle of the sandblaster.
Service Still in the process of developing but it would be assumed that the servicing will be included into the price of the unit for a period of time. Or if they lease the equipment then the servicing will be a contractual agreement of maintenance.
Distribution Direct selling, made to orderPromotion Trade expo, conferences, word of mouthGeographical Locations
Australia
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
9.12 Suppliers
For the upper body exoskeleton suit there are a large range of suppliers to select from
as the components as simple of the shelf parts. It is only when the whole system is
integrated that the product become complex and differentiable to other products. The
suppliers of this product are favourable as there seems very little a supplier can
monopolise in the intellectual property side of things. They have very little in the
means of a bargaining chip. The only chip they can hold is the technologic
manufacturing knowledge, which for this product only requires the fundamental
processes.
Concentration of suppliers relative to buyers
The suppliers for this niche product and industry are not limited. The quality
and standards of the suppliers might not to meet the level required.
There are many suppliers which are favourable for this niche product and
industry.
Differentiation of the supplier products
The components used in this product are commodity type parts and not highly
differentiated components.
These parts are easily purchased of the shelf with reasonable price ranges.
Other components may need to be manufactured but this manufacturing
process does not require any special of differentiating technical processes.
The components are all simple but together it creates this niche complex
product.
Switching costs of buyers
As the suppliers/manufacturer is third party contractors the assets such as
equipment, labour force and other cost are not assets to the company.
The contracts can be given to tenders that provide a reasonable price and
quality standard for the technological process. This means that switching from
one supplier/manufacturer to another is simple with minimal cost.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
The costs associated with switching will be the production and suppling
contractual agreements. Contractual agreements are easily over come as a
reason for terminating a contract is that the supplier is not meeting quality
standards.
Other cost which is of minimal risk is the changing of suppliers/manufacturers
the technical knowledge lost, in other situations a new innovative
supplier/manufacturer could improve the component resulting in an improved
product.
Threat of forward integration by suppliers
There is too much initial capital required, in R&D, testing, verifications and
incorporating components from other companies, this will mean that the threat
of forward integration by supplier will be unlikely.
9.13 Entrants
The UTS Upper BEX is a unique product in the market and hence gives it a unique
competitive advantage. However there are other technologies that might overshadow
this Upper BEX. Competitors develop different technologies that may pose as a treat
to this suit .The barriers stopping new entrants are not so extensive as there is no
current established industry in the market. We believe that a major barrier is the large
amount of R&D and capital required for new. The potential entrants are Honda,
Berkley University, Raytheon and Cyberdyne. These companies already have
products in this industry but they are all concentrated in different markets.
Economies of scale
Since the volume of sales is relative low as this is a niche industry there is no
economies of scales that exist at this time for this industry. As the demand
increase and production level increase a economies of scale can be developed.
But at the present stage the exoskeleton and the road and civil structure
maintenance industry have no economies of scale, due to the low volume.
Brand preferences
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Customers are not loyal to any specific brands but reputation of the institution
may help to gain the market share
Capital requirements
A large amount of capital is required. The capital will be invested mostly for
Research and Development this capital will come in the form of cost of
development and the time cost to develop the product. Meaning that no minor
entrants will appear only major entrants.
Switching costs
Switching cost may vary among customer. For example if we lease it to the
customer the switching cost will be comparatively low whereas if the
customer bought the product the switching cost is fairly high.
Distribution channel
The distribution channels of the product will mainly based on face to face
selling with the customer.
The distribution channel are not blocked by competitors but potential
customers could be lost if competitors get to customer first.
Delivery and service
As the product will be manufactured based on customers orders, the industry
will be easily able to deliver and meet the support and service demands to its
customer.
Quality and reliability
The product has a high reliability in terms of performance. However the safety
standards of Australian Industries require the product to be maintained every
year.
Qualifications and experience
Deep technical expertise and resources is required to design and manufacture
product making it a bit difficult for the new entrants.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Proprietary knowledge
Intellectual property within the industry is well- protected.
9.14 Substitutes
The Upper BEX is a new niche product in a new niche industry and does not have a
market on its own. The upper exoskeleton suit would be classified as a substitute
technology for another industry which we will be focusing on primarily the roads and
bridge maintenance industry. The other competing substitutes technologies within the
road & bridge maintenance industry will be the human being, full body Exoskeleton
Robotic suit and an autonomous robot the main substitutes competing in the road
service and maintenance industry. Even though some substitutes may have higher
profitability, the rate of improvement in a price to performance ratio is not feasible
and switching cost will be relatively high making the treat of substitute product
moderately low. The substitute products have there advantages and there
disadvantages. The autonomous robot is good as it can run 24 hours a day an 7 days a
week. The accuracy and the ability to perform tasks in specific areas or angles maybe
limited for the robot. The full exoskeleton suit maybe too bulky, expensive and too
much equipment for the task and might be ignored.
Industry switching costs
For substitutes like full body Exoskeleton Robotic suit and auto-mated robot
the switching is fairly easy and will not require much capital as they have the,
established an installed base and the R&D team which has similar technical
expertise.
Rate of improvement of substitute product
Recent Technological advancement in the robotic industry has allowed the
industry to develop product for various purposes. Advancement in the full
body Exoskeleton Robotic suit and auto-mated robots is advancing very fast
and making it possible to perform task more efficiently and accurately.
Competitive advantage
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Full body Exoskeleton Robotic Suit has a strong competitive advantage over
the Exoskeleton Robotic Arm as the Exoskeleton Robotic Suit allows the user
to perform various task and provides more safety for the operator.
Automated robot does not required a human being to operate but is able to
perform task same as the Exoskeleton Robotic Suit.
Profitability of industry producing substitutes
For the Full body Exoskeleton Robotic Suit the profitability is fairly marginal
whereas for the automated robot it is a bit profitable as it will eliminate the
labour cost.
9.15 Key Success Factors
There are 3 major success factors for success in this industry. Theses success factors
are customer satisfaction, innovation and quality.
Customer satisfaction – A major success factor for winning contracts will require the
company to provide excellent customer satisfaction service. The personnel require
will have to be focus on providing excellent customer service. The service will
involve listen and understand customer’s needs and tailoring the product to suit
them. It will also require staff to be able to communicate in a non technical
language, and able to technical language in to simple terms. They will need to
build rapport with customers. Communicate with customers regularly to ensure
the product is function as design, also address concerns, issues or new updates that
may be of interest.
Innovation – Another major success factor will be the company’s innovation position
and progress. The R&D team will have to be continually researching and
developing new concepts. Example or innovations not necessarily requiring a
whole new system design will be new modification, new component, new
materials, new modular attachment system or new functionality. The innovation
does not have to be the best design but meets what the customers need and will up
lift the status of the company as being an industry leader or a technological leader.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Quality – The final major success factor will be the company’s attention to design
detail and ensuring that the design is optimal at every stage of product lifecycle.
Customers will be subconsciously assessed the quality even after the purchase of
the product. If the quality does not meet expectation over the life time of the
product, the bad experiences will stay with these customers. The first impressions
are assessing the quality of build, manufacture, assembly, reliability and product.
Then the assessment during the product life will be the design of functionality,
serviceability, maintenance requirements and other design issues.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
10 Environmental AnalysisThe sections below are an analysis of the environment that could influence and affect
the exoskeleton. In summary the regulatory, economic, societal and technological
influences are all favourable but need to be closely monitored as the favourable
situation can change into an unfavourable situation.
10.1 Regulatory Influences
There is little that will affect the exoskeleton in terms of regulatory influences. The
only issues will be the federal regulation on WorkCover and occupational health and
safety regulations. As the product develops in the growth stage the government,
International Standards, Australian Standards or the Medical board may government
that standards must be used in design but this will not take affect until late stages of
the product cycle. The companies that are market leaders and have a member on the
committee can also influence the desired outcome to benefit the company.
Licences and permits
For the time being the licensing has no real affect as this product will only be
sold in Australia and the trade agreements mean that there are no intellectual
property issues that have to be considered, as there are patents in place.
Local content requirements
The design a functionality of the exoskeleton has to comply with WorkCover
& Occupational Health and Safety standards.
10.2 Economic Influences
The economic influences will have some affect as organisations as they are reluctant
to invest in ideas when they have a budget. Organisations are more willing to invest
towards the end of financial year as they would have been budgeting for the whole
financial year coming to a realisation that the have funds to invest. If these funds are
not invested their organisation or department returns the funds back to finance and
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
this funding does not roll over to the next financial year but it actually will decrease
their budget for next year.
Inflation
As this exoskeleton is marketed to companies and not the general public
inflation should have little impact on the sales.
Foreign exchange rate increase
As the initial target market is domestic and not foreign the exchange rate
increases has little to no impact. The only affect will be some components may
be manufactured overseas which could mean a higher price for goods but
components a commodity type product meaning sourcing of a cheaper
alternative will be easy.
Disposable income level increase
As if companies have more disposable income they will more likely consider
any purchases.
GDP growth
If there is a growth in the GDP there should be a growth in the industry as
companies tend to spend more.
Globalisation
Globalisation will be favourable for this industry but this is a long term goal
that won’t be reached anytime soon.
Seasonality
The exoskeleton industry and the roads maintenance industry has no
seasonality changes as once a project has been completed another project will
take its place.
In the exoskeleton industry as it develops there might be some seasonality
towards the end of financial year were businesses spend more.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
10.3 Societal Influences
There will be more societal influences as the infrastructure is aging, growing concerns
with the environmental impact, regional population changes and also access to skilled
labour. These societal influences will be beneficial as it creates more pressure,
requirement and demand for the exoskeleton as a solution to problems that currently
face.
Aging population
As the exoskeleton suit expands in to other markets like rehabilitation the
aging population that need aid will be favourable.
Regional population changes
This is favourable as currently and in the future more of the population will be
expanding and migrating to regional city like the Central Coast, Wollongong
and Newcastle. These regional town are the areas where older type bridge are
located as in the past funding has been given to area that have higher traffic
flow. As more and more of the population migrate it will create a pressure on
the Road authorities and local councils to maintain the bridge for safety.
Increasing urban density
An increase in urban density will have little to now affect on this industry.
Aging Infrastructure
An aging infrastructure will be favourable to the exoskeleton industry and the
roads maintenance industry. The aging infrastructure will be more constant
work will be requiring from the exoskeleton suits.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Figure 6 Age and Condition of Bridges (Source: Vic Roads, 2009)
Health & fitness
As society is aging and becoming physically unfit the exoskeletons can aid
them in fitness or mobility.
Access to skilled labour
This is favourable as this allows the requirement of any type of physical
person and not restricted to that of a body builder. The exoskeleton allows a
skinny, less muscular or even an operator of the female gender to be able to
provide enough force in holding the equipment without fatiguing.
10.4 Technological Influences
The technological influences can be good or bad. It can be good as it can increase the
pace of innovation and the pace of the process innovation. It can be bad as it can
create competitors or substitutes which might over shadow the exoskeleton.
Pace of product innovation
The progress of innovation is relatively at a pace which is exciting as
customers and journalist are become intrigued and are more inclined to
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
purchase the product. Other technological advances will be beneficial to the
exoskeleton, but this needs to be closely monitored as a favourable situation
could turn in to a unfavourable situation.
Pace of process innovation
The rate of process innovation is not applicable at present due to the low
volume but as the exoskeleton change in to a growth stage this will be
beneficial.
Pace of distribution innovation
This is not applicable as sales will happen at trade shows and direct selling.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
11 Vision Statement
Rewrite Mission Statement describing the business at the end of the planned
period.
The statement should answer the following questions:
Who are the customers?
What are the customers needs?
How do we solve the customers’ needs?
Hoe does the organisation get there?
In 5 years the UTS Exo Technologies will be able to aid bridge maintenance services
by eliminating the fatigue and OH&S issues and improving productivity by cutting
the process time by 20%. The exoskeleton would be supplied nationally. The
continuation of research and development projects will guarantee that UTS Exo
Technologies will be leaders in the industry and technology.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
12 Marketing Plan
List the major marketing activities and the schedule for implementation.
Nominate the people responsible for each activity and the expected completion
dates.
List the major product and process development activities and the schedule for
implementation.
Nominate the people responsible for each activity and the expected completion
dates.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
12.1 Product/Service
Describe the product/service and it eventual end uses.
Include photographs or relevant diagrams.
12.1.1 Product Development Emphasise unique product/service features and how these add significant
value.
Estimate how much time and money is required to complete, test and
introduce the product/service or process – assess costs of labour and materials.
Outline the competencies or expertise that exist or are needed to complete
development.
0435567590
12.1.2 Technical Advantage Assess the degree to which the product/service supersedes existing ideas –
relative advantage.
Determine if there is a first over advantage or lead time advantage.
Assess the potential for setting the industry standard in the selected market.
12.1.3 Proprietary Advantage Describe any contractual agreements that provide exclusivity or proprietary
rights.
Detail any patent, trademark, copyright or intellectual property that is owned
or being sought.
If the intellectual property has been transferred to another entity shoe the
consideration paid for it. Outline any royalty, licensing, franchising and
distribution agreements.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Identify who owns the intellectual property and the cost of protection.
12.1.4 Packaging Examine the product layers (generic, expected, augmented and potential).
Show how the product is presented to the market.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
12.2 Price
Discuss pricing strategy for the product /service showing how the purchase
may change over time.
Assess the degree of control over market prices and costs.
Compare pricing to competitors and substitute pricing.
Examine use of pricing variables (capital purchase or monthly rental,
maintenance contracts, credit terms, volume discount policy, introductory
offers).
12.3 Promotion
Assess the degree of difficulty in understanding the product/service.
Determine the best form of communication to address the complexity of the
message.
Show how to reach the target market.
Explore if promotions can build volume during seasonal slow periods.
Develop and test the brand for the business and products/services.
Collect endorsements and testimonials from existing customers.
We believe that the concept an exoskeleton suit will not be a difficult one for the
customers to understand as it just enhances the force exerted by the used by a
specified percent. Visually the exoskeleton looks complex and may deter customers
from purchasing the technology. Continual demonstrations and exhibitions will be
required as this it the best form of communicating the benefits of the exoskeleton. The
leasing service will be even easier to understand as the is act as a trial system for
customers as this technology is new and customer are not aware and reluctant to
invest in a technology with out first hand experience.
As the exoskeleton is a new product trying to enter a new market, it would require
using various promotional activities and tactics to gain market share. Planning and
performing strategic promotional activity we will be able to raise awareness amongst
the customers about the exoskeleton and eventually will help us to expand our
business. The more specific strategies will be advertising, trade conferences, expos,
exhibitions and direct selling in order to reach the target market.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
The promotion or communication strategy initially will be to business build then
proceed to brand building. These promotion strategies will create discussions and
awareness in other markets. This can mean that the exoskeleton can be introduced in
to a new market earlier or provide an awareness in future markets. Depending on the
feedback or response we receive from a particular market group. This inturn can
increase volume of sales.
The exoskeleton would not have much of a seasonal cycle. It may however be
beneficial if the to be more active towards the end of financial year as companies have
money to spend. The promotional activities will be ongoing and maintained as a
flighting schedule with pulsing schedules towards every quarter and especially
towards the end of financial year.
12.3.1 Advertising
Australian Manufacturing Technology magazine is a monthly publication by
Australian Manufacturing Technology Institute Limited. A full colour advertising
page for the whole year will cost $2800. The expected response rate for this
promotion will be 10%.
YouTube demonstration videos uploaded monthly to create awareness in the public.
The cost will be free and expected response rate for this promotion will be 2-5%.
Press releases will be created and printed half yearly. The cost will be varied as press
releases will be over all avenues of media, from websites, magazines, trade journals
and printed media. The cost will be free and expected response rate for this promotion
will be 2-5%.
Printed media will be printed in batches initially 100 Presentation folders will be
printed off. Each Folder includes 5 full colour single sided inserts with 1 business
card attached. In additional 150 business cards will be printed off as spares or for
other prospective clients. The total cost for all the print media coming to $950
including GST. This is to ensure that there are enough copies to distribute to potential
customers, contractors, consultants and other companies the might be involved in the
market. The delivery of the printed media will be addressed to the managers of
specific departments, and this will be done on a half yearly basis. The expected
response rate for this promotion will be 5%.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
12.3.2 Public Relations
Public relations will be a big part of building public awareness. The company will
start off will soft introduction of the product through the use of YouTube if it become
popular we will then precede with phase 2 by distributing press kits to journalist and
other media companies gaining coverage in journals and newspapers. The 3rd phase
will require the come to gain radio and TV exposure. This exposure is not form of an
advertisement but a whole section slotted just to discuss and promote the exoskeleton.
The radio and TV stations will have to be selected correctly targeting at the audiences
who sit in companies as board members, CEO, CFO, COO, directing mangers and all
the other influencers. The stations that might be considered will be 2GB, 2UE & 60
minutes. This will require a recruitment of the right person who will continually
distribute press releases to journals and other relevant media. The expected response
rate will be about 10% and the cost will be apart of the salary of the sales and
marketing team.
12.3.3 Personal Selling
As this product is a niche and new the company will concentrate more on personal
selling to ensure that message get to customers. The expected response rate can not be
made but the cost will be included in the salary of sales and marketing.
12.3.4 Trade conferences, expos & exhibitions
UTS Exo Technologies will need build company presence develop public awareness
through the forms of demonstrations and present in expos, exhibitions and
conferences. A list of event schedules, locations, dates, costs and other details are
listed below. The conclusion of the expected responses of each of the promotional
strategies is also included in the end of each of these sections.
National Manufacturing Week in Sydney occurs every 2 years and the next
date will be on the 11th -14th May 2010 at the Sydney Showgrounds &
Olympic Park. The cost of a 3m x 3m stall will be around $5000. This cost
includes the signage, carpeting, stall setup and other promotional media. The
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
expected result response rate for this promotion will be 35% of the customers
that approach for more information.
QLD Transport & Urban Development Conference 2010 occurs on the 25 th
May 2010 at the Brisbane Convention Centre. The cost will be $750 per
person. The estimated response rate is uncertain but the benefit is that
awareness has been developed.
VIC Major Projects Conference occurs on the 17th August 2010 at the
Melbourne Convention Centre. The cost will be $850 per person. The
estimated response rate is uncertain but the benefit is that awareness has been
developed.
NSW Major Projects Conference occurs on the 27th October 2010 at the
Sydney Convention Centre. The cost will be $850 per person. The estimated
response rate is uncertain but the benefit is that awareness has been developed.
12.3.5 Direct Mail & Telemarketing
A small portion of promotional strategies will be telemarketing. The marketing and
sales team will call potential clients to setup appointments for demonstrations and
create awareness of the exoskeleton. The cost of telemarketing or appointment setting
will be negligible as the sales and marketing team will be calling and look for
potential clients in the down time and this will be included as there role and in their
salary. The expected response rate will be 5-10%.
Direct mail will be sent to companies that the sales team could not setup a
appointment with. A mailing of information pack will be sent out to these customers.
The expected response rate will be 2-5%.
As mentioned in the previous section the printed media will already organised and
will be used where needed at the appointed demonstration meetings or the delivery of
the information pack to prospective companies.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
12.3.6 Company Website
Prior to launch of the exoskeleton a company website will be constructed to provide
clients, information on the company, product and services while maintaining a
professional image. The website will contain demonstration videos and images which
will show customers or the potential enhancements and benefits it can offer. Details of
the exoskeleton will be provided. The company’s service and maintenance plans for
the product will be included and easily accessible on the website. The contact detail
will be made simple and easy to find for those that want to find out more about the
product. The website will be regularly updated with new information on events that
the company or the product will be involved in, the new updates, upgrade or
development on the exoskeleton. The website will be updated with testimonial from
existing customers or even journal reviews. The cost will be negligible as the roles
will require the staff to update the website when it information arises or there is a
need and this is incorporated in to the salary. The expected response rate will be 20%.
12.3.7 Internet Advertising
In order to promote and gain awareness to the company a subscription for advertising
to be placed in to web in relation to specific or related keyword searches. This
subscription will primarily be with Google Ad words and other websites such as:
Industry websites
Trade websites
Technology journals, website and forums
Google Ad words
Although response rate might be uncertain and an estimate will be 10%, it is
important to have some internet presence. The cost will be a minimum start up fee of
$20 and depending on the level of presences required on the internet charge will
increase. In the initial development and introduction stages the monthly budget will
be $50 per month.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
12.3.8 E-mail
E-mails will be another strategy will be to email potential clients information
regarding the company, product and services. This email will contain an introductory
letter, in this letter it will include company information (who we are) and product &
service (what we do). The e-mail will also include company website, contact phone
number, email and maybe an attached PDF of the company brochure. The e-mail
might include press releases about development on the company or the product. There
is not specific cost attached to this. The expected response rate will be 10%.
12.3.9 Network Marketing
In the initial year of setup the company’s presences will have been built some intrigue
and discussions. The concept of network marketing in its best form will be word of
mouth to family, friends, colleagues, peers or any other social networks who will then
promote the product and service through discussions and passing interest. An
incentive program or a mates rate program to create more of a viral promotion in the
network marketing strategy. The cost is negligible. The expected response rate can not
be measured.
12.3.10 Promotion Strategy ScheduleTable 11 Promotion Strategy Schedule Summary
Promotional Strategy
Expected Response
RateSchedule Estimated Cost
Advertising - industry magazines 10%
Monthly $2800 per year for a 1 page full colour ad in industry magazines
Advertising - YouTube 2-5% Monthly The cost will fall under the staff salary
Advertising - Printed media (Presentation folders, brochure & business card)
5%
Half Yearly $950 for 100x presentation folder, 5x 100x brochure insert & 250 business cards
Trade expos & exhibition - National Manufacturing Week 35%
11th – 14th May 2010 $5000 for a 3m x 3m stall, signage, stall furniture and other services required
QLD Transport & Urban Development Conference 2010
n/a25th May 2010 $1000 entry fee, airfare
and accommodation costs
VIC Major Projects n/a 17th August 2010 $1100 entry fee, airfare
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Conference 2010 and accommodation costsNSW Major Projects Conference 2010 n/a 27th October 2010 $850 entry fee
Telemarketing 10% Ongoing process The cost will fall under the staff salary
Direct mail 5% Ongoing process The cost will fall under the staff salary
Company website
20%
Constructed prior to exoskeleton launch and to be monitored and updated regularly.
The cost will fall under the staff salary
E-mail 10% Ongoing process The cost will fall under the staff salary
Internet Advertising
10%
Internet advertising will commence prior to the launch of the exoskeleton and will keep going throughout the year
$50/month as a monthly set budget with Google Ad.
Public Relations
10%
Ongoing process The cost will fall under the staff salary.And printed media mentioned covered.
Personal Selling n/a Ongoing process The cost will fall under the staff salary.
Network Marketing n/a No specified schedule n/a
12.4 Distribution
Determine how the customer will buy the product/service? –direct sale,
wholesale, retail, channel partners, broker, catalogue or direct mail.
Assess the degree of control over the distribution channels
Does access to customers and how they buy determine the location for the
business?
The distribution channel classification will take on a business channel as most of the
characteristics fit that of the business market.Table 12 Business Market Channel Characteristics
Characteristic Business Market
Purchase Volume Moderate to largeNo. of Customers FewerCustomer Location Concentrated (Head offices)Method of Buying ProfessionalBuying Influences MultipleNegotiations ComplexDistribution DirectPromotion Personal Selling
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
The business channel usually has 3 major groups the producer, reseller and
government. As the product is new and the public has little knowledge of the benefits
and advantages, the company with initially start off being the producer and reseller.
Once the company has setup and personal selling to organisations they will also start
to personal sell to distributors so that the product can expand and cost can be cut from
the company. The reseller will take on the cost of the purchases the goods and will
have a charge fee period were they can try to sell this product to potential customer.
This system is like that of car dealers with the manufacturers, where the dealers have
about 3 months of no charge before the manufacturer charges for the goods. This
charge free period will be in summary accounts receivable of about 90days.
The location of the company will be near industrial areas and areas that the innovative
companies are set up like that of Silicon Valley. Even though the primary
organisations aimed at may not be near by, the demonstrations at the organisations
location so an attitude of “we will come to you” were the issue, problem or sale is big
or large. The main reason for the strategic location choice is to be near the
components head officers as any implications or redesigning issue allow for quick and
easy consultations when needed. In NSW the ideal location will be Hornsby as the
main component equipment will have to be designed around are the motors. The
motor supplier currently is Maxon Motor which is based in Hornsby.
Strategy
The company will sell the product outright directly to the customer and also a leasing service of the product will be available to customer during the initial phase of the company. The company decided to introduce the leasing service in order to gain the trust of clients who are not so keen in investing in new products. The leasing service will be a win- win situation for both the clients and company as the client can return the product when lease ends or upgrade to a newer version of the product once its available. As for the company, it will able to penetrate the market more effectively and expand the business.
Location
Since the company is not concentrating on customer from a specific area, there are no ideal locations for the company that will be closer to the customer. In order to reduce operating cost the company will be located close to the suppliers. The location of the company will have minimum effect on the customer service as within the company there will be a delivery service. This service will mainly be used to distribute sold
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
product and for technical staff who will be visiting the customers for the maintenance of the product.
12.4.1 Channels
Describe how distributors or sale representatives are selected and when they
will start to represent the product
List the distributors and show their allocated geographical areas.
Show the expected distribution margin or commissions paid
Use the call rate and expected close ratio to produce the sales volume forecast.
Project the cost travel, training, support, samples, merchandising, and point of
sale material for channel.
As the initial sales volume of the company will be fairly small, an official marketing
department will not be necessary until the company expands. Once the company is
launched, all the sales issues will be initially handled by either the technical staff or
the managing director. Once the company expands and have a larger sales volume, the
company will launch a marketing department dedicated to provide efficient and
quality service to the customer.
12.4.2 Direct Sales Force
Estimate the number if sales people required and their compensation package-
salary plus commission and incentive plan
Use the call rate and expected close ratio to produce the sales volume forecast.
Project the cost of travel, training, support, samples, merchandising and point
of sale material for channel.
Once the company is launched, the managing director will be responsible for handling sales department that includes managing sales, calling up leads and following up the initial calls. The technical stuff will be more focused on installing and maintenance of the product. As the company expand it will hire more stuff to overtake the sales department. The managing director will than overlook the companies operation and provides assistance if required by any department.
13 Operations Plan List the major sourcing, production, service and administrative activities and
the schedule for implementation
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Nominate the people responsible for each activity and the expected completion
date.
13.1 Sourcing
Identify which parts of the manufacturing process will be out-sourced.
Justify the make or buy decision
Outline the criteria for selecting criteria for selecting contractors/ suppliers and
their terms
Assess the reliability of supply.
Determine supplier delivery times
Calculate the material component of the cost of goods sold
Identify alternative sources of supply
Estimate the stock holding of raw material required for a buffer.
13.2 Production
Prepare a diagram to show the manufacturing process and operating cycle.
Estimate the time required to make the product
List the variable production expenses; (labour, freight, maintenance, rework);
and express as a percentage of total unit cost
Explain how seasonal distortion in demand, supply and labour are managed
Outline the methods of quality control.
13.2.1 Facilities
Describe the facilities necessary to start production or any improvements
required
List any special equipment necessary for manufacture
Discuss whether equipment and office, manufacturing or whether warehousing
space will be leased or purchased
Used capacity requirements planning to ensure equipment and plant capacity
can meet forecast
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
13.2.2 Labour
Determine the availability of labour and the relevant award structure
State whether the labour is unionised and if there are any industrial relations
issues
13.2.3 Inventory
Explain the approach to inventory control dor raw material, work in progress
and finished goods
Assess the if a manual or automated system is required for inventory control
13.3 Service
Describe the necessary customer support and training requirements
Outline the process for repairs and maintenance of the product. Is it
outsourced?
Define service, guarantee, return and warranty policies
How do these policies compare to major competitor and industry standards
What system is used to handle warranties and returns?
Explain the process for manufacturing for managing customer complaints and
how feedback is used to improve service and product development areas
What are the cost of support, training, repairs, and warranties?
13.4 Administration
Prepare a diagram to show the flow of the formation through the
administration system
Explain how orders are received
Show when and how are customers invoiced
Provide policies, procedures and controls used for collecting accounts
receivable. Determine if this function is outsourced to a collection agency
Describe method controlling due dates for accounts payable
Prepare the cash conversion cycle timeline chart for the product
Examine the effect of seasonality on the cash conversion cycle
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
List the administrative costs
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
14 Organisation (Personnel) Plan List the major organisation and recruitment activities and the schedule for
implementation. Nominate the people responsible for each activity and the
expected completion date
14.1 Organisation Structure
Prepare an organisation chart detailing job titles and employees’ name. if a
position is vacant list the job title
List key position description and responsibilities
Provide brief biographies of the key members of the management team listing
relevant experience and expertise
Determine which functions are outsourced and list who provides these services
14.2 Compensation
Prepare a table of salaries, benefits and bonuses for the organisation
Detail how reward systems are linked to company performance
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
15 Financial Plan Acquisition of funds-list the type and source of funds required and date that
the money is needed
Allocation of funds- show how and when the funds will be used
Nominate the people responsible for raising and spending the funds and the
expected completion dates.
15.1 Financial Assumptions
List the financial assumptions used to construct the business plan.
15.2 Financial Statements
15.2.1 Profit & Loss
Show the historical profit and loss statement
Construct the following profit and loss statements
o Forecast year 1 by month
o Forecast years 2 and 3 by quarter
o Forecast years 1 to 5 by year
15.2.2 Capital Budget
Construct the following budget for capital for capital expenditure;
Forecast;
Year 1 by month
Years 2 and 3 by quarter
Years 1 to 5 by year
15.2.3 Cash Flow
Construct the following cash flow statements;
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Forecast;
Year 1 by month
Years 2 and 3 by quarter
Years 1 to 5 by year
Identify the time to reach positive cash flow.
15.2.4 Balance Sheet
Show the historical balance sheets.
Construct the following balance sheets;
Forecast;
Year 1 by month
Years 2 and 3 by quarter
Years 1 to 5 by year
15.3 Financial Analysis
15.3.1 Beak Even Analysis
Separate fixed, variable, and semi variable costs.
Determine contribution margin, breakeven sales volume and time to breakeven.
15.3.2 Ratio Analysis
Prepare liquidity, capital structure, profitability and activity ratios for historical data
and projected years 1 to 5.
Compare ratios to the industry benchmarks.
Examine trends in ratios.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
15.3.3 Sensitivity Analysis
Show the sensitivity of returns to major key performance indicators such as price and
volume variances
15.4 Offer
15.4.1 Funding
Indicate how much money is required by the business
Present the timing for the capital draw downs
Specify the type of finance required;
Debt; identify what collateral is available
Equity; identify what shareholding is available
Show how the business will meet debt repayments or dividends payments.
Show the method used for opportunity business valuation
Prepare an internal rate of return for investor
Describe the percentage dilution of ownership that result from the initial and any
subsequent investments.
Indicate if board positions are available
15.4.2 Harvest
Present the exit strategy for the investor showing the investment will be harvested
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
Identify potential purchasers where products/ services has a high strategic potential
Superimpose the timing of harvest plan on the funding plan
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
16 Risk and Critical IssuesList risks and problem faced by the business and strategies for overcoming them
Risk will originate from the weaknesses and threats in swot analysis, the competitive
analysis and pest analysis.
Identify critical issues and strategies for addressing them. Issues will be found in the
marketing, operations, organisational and financial plans.
Divide the risk and issues by major categories; marketing, operations, organisational,
and financial.
17 RecommendationsDistil the most significant activities to be undertaken from the marketing, operation,
organisational and financial action plans.
Prepare a list of activities and milestones and ensure these deliver the financial and
strategic objectives.
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UTS Exo Technologies Business PlanAldrich Chan – 10161952Farhad Reza – 10487193Michael Kim – 10434001
18 ReferencesThe Roads and Traffic Authority NSW, 2009, “Information Paper to Councils,
Regional Roads to Local Government 2009/2010”, viewed 10th October 2009, www.rta.nsw.gove.au
Vic Roads, 2009, “Victoria’s Arterial Bridges: Critical Links for Transport Efficiency, A Strategy for Managing the Performance of Bridges on Victoria’s Arterial Road”, viewed 10th October 2009, www.vicroads.vic.gov.au
http://www.amtil.com.au/UserFiles/File/AMT/MEDIA%20KIT%202010%20for%20web.pdf
http://www.nationalmanufacturingweek.com.au/en/home/
http://www.nswconference.com.au/mp/index.htm
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