Question

Feasibility Analyses and Business Plans Please respond to the following with a 250-300 word response: Develop an idea for a new business and conduct a feasibility analysis. Please be as creative as you like in the development of your idea (but as careful as you can be in your analysis of that idea). Analyze the steps involved in crafting a winning business plan and make at least one recommendation for improving the process. Explain your rationale for making the recommendation you did.

Answer 1

Idea for new business: Auction for e-waste through a collective warehouse system.

Feasibility analysis: As world is moving fast in the pace of electronic products the amoung of waste getting accumulated through e-products is increasing atleast 10-12% per year. As technologies getting obsoleting fast the products associated with them, the gadgets, accessories etc will also become out of the market. Thus there is good scope in e-waste management and conducting auction for companies who has the capability to conver this e-waste to usable form ( reusable or recycling technologies).

Steps involved: Area to be considered . This should be a location where IT and service based companies who are using lot of electronic products. The locations like Milwaukee in US, Siliconvalley where tech compnies flourishing like anything.

Feasbility analysis: The area is grwoing IT setor and generation of e-waste will increase at rate of percentage of min 6-8% every year. The usage of new technogical gadgets, overuse or over heat of electronic products results in damage of the components or the whole product. Initial investment is majorly on the are of transportation, warehouse storage and cosnolidation, e-auction should be caried out in a very structured manner with secrecy.

recommendation:Reduce the transportation cost through colsolidation and FTL ( Ful truck load ultilisation), storage area should be optimised by aligning the e- auction and provide dates for the e-waste management companies to collect the products from warehouse. Additional cost should be added if they exceed their given timframe ( strage and handling cost).