Business Plan Assignment Exploring Strategies To Develop Novel Business Ideas

Question

Task: How to use business plan assignment research methods to identify and propose novel plans that can be used to enhance a business operation and performance?

Answer

Executive summary
The business plan assignment has been prepared to analyze a new business idea which can be established in Australia. My proposed business plan is e-book publishing company which has been considered as a profitable business plan according to the industry and business analysis. The basic requirement for the proposed business plan would be a considerable customer base and few investors. The business is proposed in a way that it could be easily considered by the customers and is cost effective. The overall analysis of the proposed business is considered in the report and few details of the business have been elaborated.

Introduction
E-Book Publishing Company:
E-books are continuing to rise in recognition in Australia, and they are predicted to maintain to achieve this in the future. As per the business plan assignment research, this might be an extremely good commercial enterprise to set up when you have a passion for books as it might entail supporting others with the publication of their e-books, with your platform advertising and marketing the e-book to a potential marketplace for sales (Wouters, et al., 2012). Because you also are putting a few threats on the line by selling the e-book, you can set up an earnings-share agreement in which you get hold of a part of the book's income. The product and commercial enterprise method remained basically the same. However, the latest surge in recognition of e-books and analyzing gadgets is anticipated to set off more extensive modifications in the enterprise, just like those visible in music and film. Using books in a virtual layout is not a brand-new concept.

One of the primary efforts on this method identified on this business plan assignment, changed into Project Gutenberg, which was founded by Michael Hart at the University of Illinois in 1971. Stephen King was the first main author to launch a novella absolutely in digital format in 2000. Hundreds of thousands of human beings downloaded this e-book from Amazon and Barnes & Noble. The authentic e-book growth occurred in 2007, when Amazon and Sony launched gadgets specifically geared for analyzing this kind of literature. The Amazon Kindle and Sony eReader had a similar form and size to present day tablets, however they used an e-ink display. Because this show is not back-illuminated like a standard LCD, it is less complicated on the eyes, requires much less electricity, and may be viewed in bright sunshine. On the downside, it can only display black and numerous shades of grey, not colors (Thompson, 2013).

E-commerce seems to provide numerous benefits to readers everywhere in the world. With the upward push of online booksellers, a more preference of guides is now to be had internationally. With the improvement of e-books, the advantages of speedy delivery and lower expenses were added. Using Wi-Fi or 3G networks, books may be downloaded in seconds to an e-reader, a computer, a tablet, or a smartphone. The customer can use any of those devices to advantage access to them. Some providers moreover offer the option of synchronizing notes, bookmarks, and different data among devices. Growing opposition in the e-book reader marketplace has resulted in a quick drop in pricing, in addition to technological refinement and advanced and enhanced services.

Innovation and differentiation identified on this business plan assignment
The innovation on the proposed business idea is e-book Publications Company. The scope of the business can be considered high as there are very few companies that have been introducing e-books in the current market. From my point of view e-books are successful as the are cost effective and are easily accessible to every individual. The proposed product would be a tablet which would be available at a reasonable cost and would include the books of your choice. The purchase number of books would be set to a minimum price considering the affordability of the books. The individuals would be allowed to set up their own choices by which the other books could be suggested to them considering their likes and dislikes (Begg & Ward, 2016).

The proposed roduct can be considered better and more competitive than the existing roducts as the business lan would include he introduction f e-books According to the likes and dislikes of the customers. The preferences of customer's ould be maximum rioritised by the business nd the gadget used for reading he e-books would be available n colour nlike kindle which has yet been introduced black and hite. The price range of the product ould be set to a minimum ratio soo that it can e easily accessible or maximum number of customers.

Industry and market analysis
As per research done on this business plan assignment, in 2022, sales from eBooks are predicted to attain US$17.04 billion. Revenue is anticipated to develop at a 2.34 percentage annual price (CAGR 2022-2026), ensuing in a marketplace quantity of US$18.69 billion by 2026. By 2026, the wide variety of human beings reading eBooks is expected to attain 1,182.8 million. The ARPU (common sales in step with user) is expected to be $15.75. In assessment to physical books, eBooks are regularly advertised at a premium, and clients do now no longer enjoy the value financial savings as a consequence of decrease printing and transport costs (Stork, 2000). This scenario significantly limits the eBooks marketplace's boom potential, in spite of the reality that client adoption is constantly growing. A digital book, regularly called an e-book, is a virtual book that consists of each textual content and images. E-books are virtual or digital books that include textual content, graphic, and tabular material. E-books are digital books that can be examine on gadgets inclusive of cellphones, e-book readers, and tablets. Several e-book carriers have embraced the e-book formatting approach the usage of HTML and CSS technology in latest years (Martin & Tian, 2016). Furthermore, e-book manufacturers consciousness on e-book report length compression to permit their customers to download and read e-books with minimum machine requirements. Furthermore, government-led environmental safety programs, especially the ones aimed toward saving trees, are diminishing using paper, growing call for e-books. The marketplace is developing because of elements inclusive of the growing wide variety of transportable readable gadgets inclusive of smartphones and tablets, the emergence of virtual schooling and interactive getting to know systems, and accelerated environmental issues over tree cutting.

However, a lack of understanding concerning e-book technology can also additionally stymie enterprise expansion. Furthermore, the marketplace is possibly to advantage from low net and cellular penetration in rising countries. Due to a developing populace of knowledgeable youth, increasing call for linked gadgets, and virtual schooling across the world, the academic institutes section is predicted to increase at an excessive price all through the projected period. Many instructional establishments are transferring closer to digitalization for journal and research paper publishing considering they may be effortlessly accessed via way of means of college students and professors from everywhere at any time (Döbert, 2021). Furthermore, several instructional and professional establishments create e-books, which play a crucial position in providing professional education. Scholiastic India, Hurix, Learnetic, Piron Corporation, and One click are only some of the main instructional establishments. In phrases of sales income in the international e-book reader marketplace, APEJ and North America had been the maximum dominating local markets in 2016. Countries in the MEA area is projected to be important areas to screen in the international e-book reader marketplace in the destiny years (Colbjørnsen, 2012). Emerging markets and growing nations have vast sales increase potential. Manufacturers taking part in the international e-book reader marketplace are projected to maintain to depend on partnerships with different carrier vendors and increasing their present product line to fuel income increase. Long-term era relationships with company companions will usefully resource in growing sales and growing new innovation strategies, permitting e-book reader providers to increase into new markets.

Product feasibility, market feasibility and economic feasibility
market feasibility: This aspect incorporates information the scope of object attributes, in addition to the quantity of competition in the surrounding vicinity who can be running at the assignment and the chance of promoting the commodity. It is the maximum vital step in the feasibility examine wherein the marketplace is investigated, and the subsequent is recognized through it, further to figuring out the quantity of its advertising proportion thru which it could serve the examiner (Blumberg, et al., 2014).

• The length of the call for the assignment's properly or service, which is e-book publication. Because there may be a large call for e-book publications, the earnings margin is deemed excessive. • In the case of e-books, the dimensions of the provider of the object to be presented is large (Polanka, 2013). Economic feasibility; The economic feasibility is primarily based totally on a examine that determines the network values a good way to be delivered to the assignment, along with task opportunities, and whether or not this assignment is steady with network values, whether or not religious, cultural, or heritage, further to assessing the assignment's results at the environment, whether or not fine or negative, and the interest in decreasing the proportion of harm that would damage the environment. Product feasibility: Piracy is a main fear for each author and publishers. While machines can replica traditional books, the time and cost of doing so commonly deters this form of piracy. However, with eBooks, ‘sharing' non-bought books is as easy as importing a document to the internet or, in a few cases, copying and pasting textual content from one record to another (Wu, et al., 2019). Many human beings nevertheless select the tactile revel in of conserving a conventional book of their hands. A cold difficult virtual tool definitely may not do for the ones folks who select analyzing a book in mattress earlier than delivering for the night. One of the maximum significant benefits of e-books is they do now no longer require using trees of their production. This is simply an environmentally useful opportunity that saves cash whilst additionally decreasing environmental effect. Some readers function matte e-ink screens, however others emit a glare that may motive eye stress and make it greater hard to attention whilst analyzing if the lights is not simply right.

Business model canvasfor this business plan assignment
Business Model Canvas (BMC) on this business plan assignmenthas been used as one of the training's components for imagining how an organization's commercial enterprise model would possibly look two, five, or ten years from now. The intention is to analyze and develop BMC, a device for describing, analyzing, and growing digital book publishing commercial enterprise models (EBPI). Customer Segmentation, Value Proposition, Distribution Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships, and Cost Structure are those to look out for. To summarize, the EBPI's transformation through BMC will put off the present book publishing paradigm, wherein publishers print copies and choose people who seem most likely to fulfill a minimal income target.

Customer Segmentation: Customers are divided into groups. The special classes of humans or companies that an employer seeks to attain and serve are described by the Building Block. They are a multi-sided platform that caters to each new and established entrepreneur (Tian & Martin, 2011).

The Value Propositions are a kind of value proposition. A constructing block is a group of services and products that add value to a client segment. They are online reader communities, online book markets, publishing on demand (POD), online book customization, area of interest books, and an E-Book Search engine. The Channels Building Block outlines how an EBPI communicates with and reaches out to its Customer Segments with the intention to supply a Value Proposition. E-book seek engines, worldwide e-mail delivery, and download are examples of distribution and acquisition channels (e-book).

Customer Relationships: The Relationships with Customers The sorts of associations that an EBPI paperwork with particular Customer Segments are called Building Blocks. For start-ups and established enterprises, Customer Relationships are Automatic Services.

Revenue Streams: The Cash an EBPI generates from every Customer Segment is represented through the Revenue Streams Building Block. E-Book income through the internet for each start-up and established entrepreneurs are the revenue streams and pricing.

The most critical assets are: The most significant assets important to make a commercial enterprise model operate are called Building Blocks. For start-ups and current entrepreneurs, the important assets are an online platform and POD Infrastructure (Murray & Squires, 2013).

The Most Important Activities identified on this business plan assignmentis the effectsBPI have towards commercial enterprise model operated are called Building Blocks. For start-ups and current entrepreneurs, the key activities are website management and logistics. Key Collaborations: The Key Partnerships Building Block describes the commercial enterprise model's network of providers and partners. For start-ups and established entrepreneurs, the Partners are printers and deliverers. Structure of Costs: All prices incurred to perform a Business Model are defined in the Cost Structure. For start-ups and established entrepreneurs, the price structure includes online platform introduction and management.

Conclusion
The business of e-books publishing is considered as a successful business plan as the need of e-books has been increasing in the current market. The business can be further enhanced and with the help of few technologies the gadgets can be introduced by the business which can help the individuals in accessing the e-books in an easier form. The business plan assignment for e-books publications in Australian market can be considered as a profitable business plan which would require low investment and will provide extreme profit for the entrepreneur.

References
Begg, D., & Ward, D. (2016). EBOOK: Economics for Business. business plan assignmentMcGraw Hill.
Blumberg, B., Cooper, D., & Schindler, P. (2014). EBOOK: Business Research Methods. McGraw Hill.
Colbjørnsen, T. (2012). The janus strategy: launching a norwegian ebook distribution service in an internationalized publishing industry. International Journal of the Book, 9(1), 61-78.
Döbert, T. (2021). Going global through digital publishing: a handbook for eBook publishing on Amazon.
Martin, B., & Tian, X. (2016). Books, bytes and business: the promise of digital publishing. Routledge.
Murray, P. R., & Squires, C. (2013). The digital publishing communications circuit. Book 2.0, 3(1), 3-23.
Polanka, S. (2013). Ebook access: Business models for subscription services. Online searcher, 37(2), 65.
Stork, P. P. (2000). eBook Publishing: Standards and Technologies. New Raiders, 1-7.
Thompson, J. B. (2013). Merchants of culture: the publishing business in the twenty-first century. John Wiley & Sons.

Tian, X., & Martin, B. (2011). Impacting forces on ebook business models development. Publishing research quarterly, 27(3), 230-246.
Wouters, M., Selto, F., Hilton, R., & Maher, M. (2012). EBOOK: Cost Management: Strategies for Business Decisions. McGraw Hill. Wu, X., Zhao, Z., & Zhou, B. (2019). Legitimacy in adaptive business model innovation: An investigation of academic ebook platforms in China. Emerging Markets Finance and Trade, business plan assignment, 55(4), 719-742.