Your business implementation plan should be approximately 25 pages long (not including appendices, references, etc.), using 12
Your business implementation plan should be approximately 25 pages long (not including appendices, references, etc.), using 12- point Times New Roman font, with one-inch margins. You should use appropriate section headers to divide the text and cite references using the most recent APA conventions. You may include summary pictures, charts, graphs, or other explanatory diagrams as needed to successfully explain the concept and implementation, but should use appendices for detailed supporting documentation.
8
Milestone 3: Company and Key Personnel
Abdussamet Akca
01/3/2022
Rivian is a new electric vehicle company that aims to capture market share and attention through its quality, unique vehicles. However, the company is currently facing challenges due to increased competition from established companies like Tesla and Volkswagen. Other fossil fuel vehicle manufacturers are also shifting to electric vehicles to remain competitive and for future survival. Therefore, Rivian has to focus more on increasing its competitive advantage, maintaining product quality, and increasing sales. One of the strategies is robotic automation; however, Rivian must understand how to use the systems to fit its core competitive advantage, the new culture and company teams to support the process.
How it fits organizations core competencies
Competitive edge
Robotic automation will help the company boost its competitive advantage in various ways. First, the company will improve its quality and assurance standards by eliminating common human errors that compromise product quality (Jovanović et al., 2018). The automation will also boost the production process, enabling the company to meet all the demands in time, avoiding negative reviews or product delays. Deploying robotics will enable the company to reduce some production costs and expenses. The costs will be diverted into activities such as research and development to help the company produce products needed by consumers. The additional costs can also be divided towards sales and marketing, increasing the company brand image and product demand.
Maintaining low production costs
The company focuses on maintaining low production costs to ensure the costs of their products also remain low. This strategy will help in capturing the market. Robotic automation will save the automobile company a lot of money. Since the company is planning to increase its productivity of electric vehicles, they need to shift more capital towards boosting production instead of exposes such as salaries. Automation will reduce salary and other costs, such as human resources motivation and training (Pramod, 2021). The company will also improve the production capacity since robots do not require breaks and rest. This will prevent the company from incurring losses caused by delays within a section of the production facility.
Improved production capacity
The company aims at increasing its production capacity so that its products can be widely available. Robots can cut production time by about 60% by taking over most human labor processes, reducing production time (Jovanović et al., 2018). The human labour will only be deployed in areas requiring human input such as test drives, system configuration, and other sections. When working with robots, the need to confirm and recheck the product for quality and whether everything is done perfectly is minimized. The company can easily roll out the cars from the factory without worries about a component missing. This is because robots can perform redundant tasks without forgetting any component.
High product quality
Robots can help the company achieve its product quality and maintain the culture in various ways. First, it reduces any possibility of errors occurring. By replacing human labor, errors arising from actions such as forgetfulness are reduced (Pramod, 2021). Next, the company can quickly change the development process without retraining. This enables the company to improve product quality within the shortest duration and without errors. Automation can help in quality and product inspection without missing any components. They can easily detect any component missing hence preventing the chances of selling out a car with a default.
Corporate culture to support the implementation
Innovation and problem solving
Automation requires a culture of creativity and innovation. It requires the employees, such as the production team, to get creative on minimizing human labor demand and replacing it with robotics. It also requires an innovative culture committed to identifying ways to make the robots more perfect for the duty. Robots can also be a challenge to the production processes, especially when a software error occurs, the role of the employees should be to ensure the occurrence of such errors are limited and contingency plans are in action in case of any error (Ivančić et al., 2019). Once the company switches to robotic automation, going back to human labor due to automation challenges is impossible; hence the team should identify any error before occurrence.
The culture is also necessary to improve product quality and standards; hence the team should increase the extent of automation to perform other jobs such as vehicle inspection and test drive. The inspection and test drive processes are done by human labor, and they cannot test all the cars; hence they sample a few for tests. This creates the challenge of other products being faulty due to the sampling. Robotic automation can inspect every car hence reducing such complaints.
Customer focus
Despite the company focusing much on automation as a quality improvement and cost reduction strategy, there is a need to focus more on the customers. The customer focus ensures that the company identifies customer needs then develops a product to address these needs (De Brentani & Kleinschmidt, 2016). The customer-centric culture will enable the company to do more market research to develop vehicle designs needed by the customers. Then the company can reprogram the robots to manufacture the exact vehicle specifications. The customer focus will also boost the company's competitive advantage since the products will be desirable. The robotic automation will ensure the exact product features are achieved, boosting product quality and demand in the long run.
Performance Improvement
The performance improvement culture aims to ensure that product quality improves with time. Employees committed to product improvement are innovative and creative to develop various ways of improving product quality through automation (De Brentani & Kleinschmidt, 2016). The product improvement culture also focuses on boosting the innovation culture to make unique vehicles to improve the company's competitive advantage.
Teamwork
Introducing robots in a company and automating most processes requires teamwork to achieve success. The process includes input from various departments to ensure the final automation increases the production benefits while minimizing costs and expenses (Norman, 2017). All the departments should join forces during activities such as brainstorming to improve the automation process. This also includes other departments such as human resources, who will be responsible for employee motivation and training to ensure the production, R&D; product design teams are creative to achieve the company automation needs.
Role, responsibilities, qualification of the team
Research and development
The research and development team consists of various departments committed to developing a new product design and features to meet user needs. This includes departments such as product development, marketing and IT. The role of the research and development team will be to ensure the company develop new product designs that automate the production process to guarantee product quality and ensure the exact design specifications are met (Norman, 2017). The team will also be responsible for market research to develop strategies to make the vehicles safer and increase their performance capabilities. Their role is to develop innovation and technologies then automate the robotic process to produce the new products.
Production Team
The production team is responsible for running and coordinating the robotic process automation. Their role is to identify redundancies and dangerous processes that can be replaced by human labor. Their role also covers identifying areas with delays or those that can cause delays then reporting them to the design team to develop strategies to reduce the production time at the stages (Anagnoste, 2018). Robots will not entirely replace human labor at the factory floor; hence the role of the production team is to coordinate with the remaining labor to ensure product quality. They also have the role of accessing the robotics processes and confirming their feasibility and whether they help the company achieve the desired benefits.
IT department
The IT team will consist of various employees in charge of automation. I will be in charge of this team, and my role will be developing a blueprint on areas where to put the robots to increase their productivity by limiting the product journey on the factory flow (Krzywdzinski, 2017). We will automate every area using the blueprint, only leaving the sections that cannot be accomplished using robots. The team will also be responsible for identifying the various problems and developing solutions before errors occur. They will do regular product maintenance and upgrades to improve the capabilities of robots and speed various processes.
Contingency plan
Robotic automation is critical for the organization; however, challenges can arise, especially if there is a breakdown in a particular area. In the long run, the company will develop a redundancy plan to ensure the backup option takes over if any error occurs. However, the company should prepare for short term problems. This can be achieved through the parallel implementation of robotic automation and systems. The parallel contingency plan involves running the robotic automation system alongside human labor; the two should work parallel. The parallel system helps the company identify potential errors, correct them and develop future solutions (Niemueller et al., 2018). The parallel system ensures the production does not stop due to system error.
References
Jovanović, S. Z., Đurić, J. S., & Šibalija, T. V. (2018). Robotic process automation: overview and opportunities. Int. J. Adv. Qual, 46(3-4), 34-39.
Pramod, D. (2021). Robotic process automation for industry: adoption status, benefits, challenges and research agenda. Benchmarking: An International Journal.
Ivančić, L., Vugec, D. S., & Vukšić, V. B. (2019, September). Robotic process automation: a systematic literature review. In International Conference on Business Process Management (pp. 280-295). Springer, Cham.
De Brentani, U., & Kleinschmidt, E. J. (2016). Corporate culture and commitment: impact on the performance of international new product development programs. Journal of product innovation management, 21(5), 309-333.
Norman, D. (2017). Design, Business Models, and Human-Technology Teamwork: As automation and artificial intelligence technologies develop, we need to think less about human-machine interfaces and more about human-machine teamwork. Research-Technology Management, 60(1), 26-30.
Anagnoste, S. (2018). Setting up a robotic process automation center of excellence. Management Dynamics in the Knowledge Economy, 6(2), 307-332.
Niemueller, T., Lakemeyer, G., & Ferrein, A. (2018, March). Incremental task-level reasoning in a competitive factory automation scenario. In the 2013 AAAI Spring Symposium Series.
Krzywdzinski, M. (2017). Automation, skill requirements and labour‐use strategies: high‐wage and low‐wage approaches to high‐tech manufacturing in the automotive industry. New Technology, Work and Employment, 32(3), 247-267.
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2
Business implementation plan and audiovisual presentation
Abdussamet akca
02/06/2022
Business implementation plan and audiovisual presentation
While creating the business implementation plan in the defense industry, it is assumed that the technology changes will remain relatively stable during the implementation period. Shifts in the technology during the plan's implementation interfere with the actual realization of the project plan. Robots’ technology is supposed to remain relatively constant during the implementation stage. The use of robots in the defense industry helps minimize the costs during the production process. Automation of the production process through robots reduces the cost of employing people to work the firm. The salaries expenses of the employees who work in the production are reduced hence the general cost of production reduced. It is assumed that technology will remain constant in the entire process.
Materials are key components in the realization of the company's planned project. Material components are very important in realizing goals and objectives interfering with the availability of the resources and materials affects plan implementation adversely. During the creation of the business implementation plan, it is assumed that the supplier of the key component and other parts can deliver high-quality material meeting the standard requirement of the firm and on a timely basis. The company identifies different suppliers of key components. They can be easily brought into the company to ensure a steady and reliable supply of materials. When the company has many suppliers, it becomes easy to switch h from one supplier to another to ensure efficiency and effectiveness.
It is assumed that production will be continuous for the entire period. The use of robots in the production process continues without stopping. Ensuring continuous production is key to ensuring that a defense industry firm can meet its targets. Robots and other sophisticated technology are employed to ensure that production process, and there are minimal instances of production failure.
Availability of resources such as financial and human resources is key to the project's success. Financial resources are important in obtaining the material and obtaining the right technology, which is helpful in the running of the firms’ activities. The defense company outsources some technologies from other companies at a price to carry out various activities. They combine the material to perform various roles and functions. Therefore, financial resources are key in ensuring that resources are well mobilized in the company to offer efficiency. Human resources who are highly skilled are essential for the project's success. Automating different roles by use of technology requires a technology expert. The sourcing of skilled labor is key in ensuring the company's success as they contribute to both strategic and tactical roles, which leads to the success of the project.
Communication is a very key business environment. For the two parties to exchange goods and any services, it is necessary to ensure that the two parties have agreed with each other. A language is a key tool in the communication process that allows people to share information. The language barrier makes it difficult for the business transactions to be carried out as parties do not understand each other.
International conflicts have a significant impact on business activities between countries. When countries conflict, business activities are usually interfered with (Master and Style). Products cannot move from one country to another because of the country's security issues. Different countries also impose tariffs and heavily taxes products from the other countries. This affects business as products from other countries appear more expensive. In ensuring that one country's defense industry becomes stronger than the other, Countries with superior technology heavily restrict the transfer of know-how from their countries to other countries. Countries create legislation and identify which kind of company can operate in a certain region.
Economic factors such as interest rates, inflation rates, and taxes income levels significantly affect the business. An increase in the interest rates of the products affects the business environment adversely as it makes goods prices in the market increase. Business finds it difficult to survive in countries with very high taxation rates. Higher tax rates reduce the business's net incomes, hence forcing them out. Businesses mainly thrive in countries that have favorable tax rates. Defense industries are set up where government regulation managing the business is favorable and supports the business.
Income level and inflation rates have a very significant effect on the performance of the business. High inflation results in a fast increase in the prices of commodities of goods. When there are high inflation rates in the market, many people cannot afford goods as it keeps on rising. Current cash, owned by the company, cannot purchase goods because of the abnormal rise in prices. The reduction in the incomes of the people also harms the ability of people to make a purchase. When prices of goods reduce, the money available for expenditure reduces, which makes carrying out business hard. Countries with little income cannot afford to have an advanced defense industry.
Before the commencement of the project, we will get proper documentation from the authorities. Obtaining proper documentation from the government institutions and other government regulatory organs ensures that businesses carried out are legal. The business operates ethically, and it is important to ensure that the company's employees are fully aware of ethical practices. This helps them remain ethical in all their practices in the operation of the business. Establishing the ethical standards within the project helps ensure that project members help the organization become ethical. According to Sherkow et al. (2021), Obtaining legal documents such as patents licenses is key to ensuring that the business gains legality. The company gets the right to venture into any kind of business when it obtains the business permit to operate such kind of business.
Stakeholders such as shareholders and customers play a key role in the business. They must be incorporated into the planning of the business. Organizations incorporate other stakeholders into the business strategically by using the feedback received from these stakeholders. During strategic planning, an organization collects feedback compiled in the form of a report. The report containing diverse opinions is implemented, which favors people from different Areas.
During the implementation of the project, it will aim to benefit the members of the community. The revenue generated from the project will be used to build social infrastructures such as health centers and hospitals which can benefit the close community. Most of the resources used in these projects are planned to be sourced from the local areas. Sourcing materials and components used locally helps promote the market for locally available resources.
The implementation of the project will create job opportunities for many members of society. The complete execution of the concept will require many people to be involved who can provide services such as financial advisory, accounting, technologists, and others. These people will be employed either permanently or temporarily during the project. The employed people will earn salaries used to improve their living standards.
During the implementation of the project, a lot of emphases will also be given to issues of environmental pollution. The environment is a key aspect that affects living organisms. In implementing the project, environmental conservation measures will be given major emphasis to protect the destruction of the environment from pollution. According to Simpson, Robertson, and White (2020), our business will become the co-creators of a better environment for all people through corporate social responsibility.
As this project will focus on developing technological tools used in the defense industry, it will also focus on the real issues that affect human beings' lives, such as the environment. All the strategies for improving the environment will be developed following the law. This is mainly because the fact project will require legal in all aspects. The robots and other automated equipment developed will be standard, meeting all the quality requirements.
References
Hochscheid, É., & Halin, G. (2019). Micro BIM adoption in design firms: Guidelines for doing a BIM implementation plan. In Creative Construction Conference 2019 (pp. 864-871). Budapest University of Technology and Economics.
Masters, W. L., & Style, A. P. A. analysis of cross-cultural economic and geopolitical factors paper.
Sethi, D. (2007). THE IMPACT OF GEOPOLITICAL FACTORS ON INTERNATIONAL BUSINESS. Journal of International Business Strategy, 7(2).
Sherkow, J. S., Barker, K., Braverman, I., Cook-Deegan, B., Durbin, R., Easter, C., … & Greely, H. T. (2021). Ethical, legal, and social issues in the Earth BioGenome Project. Ann and da Silva, Manuela and Torrance, Andrew W. and Greely, Henry (Hank) T., Ethical, Legal, and Social Issues in the Earth BioGenome Project (March 25, 2021).
Simpson, B., Robertson, J. L., & White, K. (2020). How co-creation increases employee corporate social responsibility and organizational engagement: The moderating role of self-construal. Journal of Business Ethics, 166(2), 331-350.
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2
Financial analysis and funding plan
Abdussamet akca
30/01/2022
Financial analysis and funding plan
Robots are very important in improving the functionality of the defense industry. The use of robots helps improve the efficiency at the workplace as they can overcome the weaknesses of a human being—the human being as faced with shortcomings such as getting tired while doing their job and making errors. Since there is huge demand s for the products being manufactured by different industries, sometimes has resulted in overstraining on the available labor, which always fails to achieve the targets set for them. Some products are also manufactured from toxic chemicals, which are harmful when exposed to human beings. In the provision of security, robots can detect security threats faster and take faster actions. Because of an increase in demand for robots, our projects will mainly focus on developing robots to be used in both industries and different security agencies. The project aims to develop robots to use factories, treat people and help in providing security.
Project costs
Robot development projects have a lot of costs. To have fully functioning robots requires the robot manufacturer to incur some critical costs. Costs incurred are necessary as they ensure that robot developers become efficient in developing a product that will meet customers' needs. Some of the critical costs necessary in the manufacturing and development of the robots include research and development costs, material costs, installation costs, engineering costs, labor costs, technological costs, maintenance costs, and other costs.
Research and development costs
Robot technology is new. Many people and businesses have little knowledge about the functioning and effectiveness of robots. There are also functions that people carry out, which robots can carry out. Research and development costs are important costs that have to be incurred by an organization. Through research, an organization will be able to understand different roles and activities carried out in manufacturing and other sectors that robots can perform. Research identifies gaps that have not been addressed by existing robotic technology, and strategies are developed in the area.
Material costs
The manufacture of robots requires different types of materials. The raw material, which includes metals, batteries, and systems that ensure the efficient functioning of robots, is essential in robots’ development. These materials are usually outsourced from outside suppliers at a price. Robots' development will therefore cost a company material. Material required to manufacture robots can be costly since they are a special type of metal.
Labor costs
Human labor is critical in the manufacturing of robots. People are employed in the firm to perform administrative duties. Human beings also operate machines used in robots manufacturing. Therefore, a human being performs a critical role in ensuring the running of the firm in terms of efficiency. The firm usually employs these people to work in the manufacturing firm, and they receive wages and salaries for the work they do in an organization.
Technological costs
Technology is key in the actualization of robots' development. Robots, which are by themselves technology, operate under sophisticated automated Intelligence. Automated intelligence technology is costly, and its implementation costs an organization resource. Manufacturers spend their finances in developing technology and operating the technology they use. Technology that has been implemented also needs periodic maintenance to ensure that it is performing well. Maintenance costs also include repairing faulty machines used in the manufacturing process.
Installation costs
For the robots to function, they are supposed to be installed. Automated technology needs to be installed to realize the use of robots. Machines and all required technology that ensure accurate performance are installed and ensure that there is an efficient performance of the tasks assigned to them. The manufacturer has to be ready to incur the initial installation of machines used in the manufacturing process and all technology necessary for the proper functioning and operation of the manufacturing process.
Cost Budget
|
Budget item |
Estimated Cost |
|
Research and development costs |
$ 300000 |
|
Materials |
$ 500000 |
|
Machine installation |
$ 50000 |
|
Labor costs |
$ 50000 |
|
Technological costs |
$ 100000 |
|
Total Cost |
$1000000 |
Revenue Streams
Sale of Robots
After the successful establishment of robot manufacturing firms and the production of robots starts, revenues will mainly be generated from the sale of robots. It is expected that manufactured robots will be able to be sold to hospitals, schools, banks. Currently, governments are heavily investing in advanced robots to provide security in sensitive areas. Such provides the ready market for the products; thus, sales of robots become the main source of revenues for the firm. Because of the Covid-19 health measures, manufacturing firms have opted to start using robots that are identified to be cost-effective since they are cheap and efficient. Because of the realization efficiency, the demand for robots has therefore increased. Companies are now opting for a different production method of using convenient robots.
Installation revenues
Installing robots to clients at a small fee helps an organization generate revenues. Some manufacturers purchase robots and fail to install them to start functioning properly. Such clients might hire services from us to help them install those robots on their premises. The installation will be the second-largest stream of revenues for the robot manufacturing firm as clients will pay small fees for the services they provide.
Training revenues
Training clients and employees on the use of robots efficiently at a smaller fee helps generate revenues for the people. Training fee charged on the clients who want to understand operating robots is the organization's revenue.
Sources of funding
Equity funding
During the commencement of the project, I will carry out equity financing. I will carry out marketing of my idea to potential investors in the company. Those who will accept my idea and invest some of their finances into the company will get to own some company shares. Subscribers will be invited from all over the world, and hence it will ensure that the project succeeds. Equity financing will also be a good option for me since it will help to spread the risk to many people. The shareholders will never ask for cash after investing in the company. They will only transfer ownership to other people when they feel not associated with the company.
Debt funding
Since investing in a robot manufacturing firm requires a lot of capital, it is necessary to look for an alternative source of funds to finance the business's operations. Debt capital is key to ensuring that the organization can keep running. Even at a smaller interest fee, the company should obtain loans from investment banks and other capital-providing organizations. Debt financing also assures the company amount of revenues that can be raised.
Retained earnings
Profits that the firm generates through sales of robots are plowed back into the business. Such profits are re-invested back into the manufacturing, which helps the business carry out its activities, such as increasing the stock level.
Sales forecast
|
Year |
1 |
2 |
3 |
4 |
5 |
6 |
|
Sales Revenue |
200000 |
230000 |
264500 |
304175 |
349801.3 |
402271.4 |
Projected cash flow statement
|
Year |
1 |
2 |
3 |
4 |
5 |
6 |
|
Operating cash flow |
||||||
|
Net Earnings |
91700 |
114625 |
143281.3 |
179101.6 |
223877 |
279846.2 |
|
Depreciation |
30000 |
30000 |
30000 |
30000 |
30000 |
30001 |
|
Less: Changes in working capital |
-20000 |
-22000 |
-24200 |
-26620 |
-29282 |
-32210.2 |
|
Cash flow from operation |
101700 |
122625 |
149081.3 |
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