BusinessPlanDraft22021Assignment xproposal x
GAME TIME APPLICATION BUSINESS PLAN
Faculty of Business
Assignment Title Sheet
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Lecturers |
Kevin O’Hara, Colman Boyd |
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Module: |
Business Plan |
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Study Mode: |
Full time |
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Part-time/ Blended |
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Assignment No.: |
2 |
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Assignment Title: |
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Business Plan Draft 2 Submission |
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Word count: |
3,000-3,500 words |
Weighting |
5% |
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Due date: |
Sunday April 4th by 22.30 (week 6) via Turnitin only |
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Assignment Brief: Time management is essential to the successful completion of the business plan. To assist you in managing your time and to reward those students who manage their time effectively, these draft submissions outline a plan for timely completion of this significant document.
Students should complete the sections outlined below. You will submit work to via Turnitin. You will receive feedback on this work from your supervisor, which you can then incorporate into your final business plan submission.
Draft Submission 2:
Please complete each of the following sections in the business plan template and submit to Moodle.
Staffing and Operations (1,500-2,000 words)
You should submit this draft as one document, which is your work in progress – i.e. you do not submit sections separately.
Use the business plan template for guidance on all of the items covered in each section (the relevant sections has been copy and pasted below) however, please be mindful that you may adapt certain elements that are appropriate to suit your individual business.
Marking Scheme:
Section
Description
Available Marks
Actual Mark
6. Staffing and Operations
(1,500-2,000 words)
Marks will be awarded for completion and quality of:
· Organisational Chart
· Staffing
· Operations
50%
6. Staffing and Operations
<< This is where you will outline the intended structure of the company in terms of management, the number and types of employees, and the physical operational requirements to produce or supply the product or service. These vary greatly from business to business, please adapt to suit your particular business >>
6.1 Organisational Chart
<< Include a short diagram of the way in which the management of the new venture will be organized outlining the various Functional responsibilities, who is charged with responsibility for the key functions of the company e.g. Marketing, I.T, Operations, Finance etc. Please provide a short description to accompany the chart.
You and your business partners (if you have any) may or may not take charge of a number if not all of these during the start-up stage. Certain functions however may be outsourced e.g. Housekeeping/Cleaning, H.R or even I.T.
6.2 Staffing
<< Please explain the skills that you and your management team bring to the business – as well as any possible weaknesses in terms of expertise
· Does the product/service require skilled people?
· What will be the mix of Full-time and part-time staff? Perhaps you will utilise self-employed workers (freelancers – widely available on the internet e.g. in the areas of I.T or Marketing), or else perhaps utilise agency staff for certain roles e.g. receptionists, administration etc.
· What are the appropriate salaries for management staff (management staff are usually paid an annual salary – or perhaps you or your business partners will be the sole manager(s). What will be the hourly pay for your staff?
· Students will need to include a staff roster within this section
Please note: it is not permissible to simply put forward a business idea consisting of only the founder and utilising all outsourced staff. Similarly in terms of Operations (below) it is not expected to operate merely virtually, that there is in fact a considerable level of infrastructure within the business.
6.3 Operations
<< State the physical requirements and operations of the business and provide a very brief comment on key operational expenses. These could include how this expense will be set to rise or fall from year 1 to years 2 and 3. The list below is not exhaustive, please adapt to suit your particular business.
· Premises (be creative if possible – perhaps a permanent office is not required at the early stage, however cannot run simply from home). Include Rent and Rates of any premises leased.
· Opening hours of the business
· Equipment
· Licenses and Permits (if required)
· Production facilities (if relevant)
· I.T Infrastructure (perhaps consider outsourcing)
· Telecommunications
· Insurance
· Trade Mark/Patents
· Miscellaneous e.g. Light and Heat, Postage etc.
· Suppliers
Costs involved – please include a summary chart e.g
Costs Year 1
Costs Year 2
Costs Year 3
Salaries
Wages
Premises
Equipment
Licenses
etc.
Assignment Cover Sheet
Student name:
Bilgin balkan
Student number:
2989296
Faculty:
BUSINESS
Programme:
BABASH 3
Year
3
Module Title:
Business Plan
Study Mode:
Full time
X
Lecturer Name:
Kevin O Hara
Assignment Title:
Draft Submission
1
No. of pages:
18
Thursday January 28th by 23.59
Plagiarism disclaimer:
I understand that plagiarism is a serious offence and have read and understood the college policy on plagiarism. I also understand that I may receive a mark of zero if I have not identified and properly attributed sources which have been used, referred to, or have in any way influenced the preparation of this assignment, or if I have knowingly allowed others to plagiarise my work in this way.
I hereby certify that this assignment is my own work; based on my personal study and/or research, and that I have acknowledged all material and sources used in its preparation. I also certify that the assignment has not previously been submitted for assessment and that I have not copied in part or whole or otherwise plagiarised the work of anyone else, including other students.
Signed & dated: 27.01.2021
Table of Contents
· Company Description
1. Description of product/service
2. Mission and objectives
3. Critical Success Factors (CSF’s)
4. Unique Selling Proposition (USP)
5. SWOT Analysis
· Market Analysis
1. Research Methods overview
2. Industry overview and market trends
3. Target market(s)
· Competitor Analysis
1. Key Competitors
2. Competitive advantage
Company Description
1.Description of Product/Service:
My service is an application where people can see the time of sports events and which channel they are broadcasting on. Thanks to this application, people will be able to easily learn the channel and time of sports events. This app is handy for people who are watching Gaelic football because there is not any apps which provide information about Gaelic football matches time and channel. People can find information about matches easily thanks to this app. I plan the name of the application to be game time. This application appeals to every person interested in sports in Ireland. Irish people can look at other sports events. They can look at other sports events they want but for those watching Gaelic football, this app will be very useful. The application will also have a reminder feature, so users will be warned by a reminder 5 or 10 minutes before the match, but the other users who want will be warned when the match starts. At first, the application will only be used in Ireland. The match time and channels will be shown according to the local time of Ireland and which channel they are broadcasting in Ireland. The application will then display the information according to the country of the user with the location feature. Users who want our application from the app store and play store will be able to download it for free at first. I will continue the application by advertising until the application reaches certain popularity. When the application reaches a certain number of people, those who want it will be able to become members at an affordable price.
2.Mission and Objectives: The purpose of this application is to enable the people in Ireland to learn the time. Channel of the sports events easily, then the people everywhere where this application is used. In the first year, the application can only be downloaded from the apple store and play stores in Ireland, but users who use the application in Ireland will be able to use the application in different countries. By adding the location feature to the application, the users will be able to see the match times according to the local time of Ireland. At the end of the first year, the application is popular throughout Ireland, and if it is started to be used by a certain person, the application will be opened to use in other countries. in countries where the sport is popular, such as Germany, England, France, and Italy. The application will be available in countries Germany, England, France, and Italy. At the end of 3 years, my expectation from the application is that it is used in many European countries. The application will be free in Ireland at the first stage. The reason for this is to make people familiar with the application and get used to it. popular. ‘Live sport accounted for 26 of the most-watched programmers on Irish Television last year. That represents the same proportion as was the case in 2018, though this year sees seven appearing in the top ten as opposed to six last year and thirteen in the Top 10 as opposed to ten.’ (Our Most Watched TV Programmers of 2019- Sport for Business, 2020). There are a lot of people watching sports in Ireland, so we have to reach these people. If the application starts to be used in Ireland after a certain period, those who want to use it for 12.99 euros per month will continue to use it. Gaelic football viewers need to use this application because only this application will give information about the time and channel of the Gaelic football matches. Ireland is a country where sports are very’ The All-Ireland semi-finals for the second consecutive weekend attracted the largest share of live TV viewers on the RTÉ, showing the defeat of Tipperary in Mayo’s second football decision Sunday Game Live was seen with an average share of 530,000. 50 percent, peak 587,000. (O’Riordan, 2021). That’s why it is very important for the audience watching Gaelic to use the app. If five hundred thousand people watch a Gaelic football match, that would be a very high number if thirty to forty percent of those viewers use your app.
3.Critical Success Factors (CSF’s): Our third and fourth critical success factors are that my application is successful in Ireland and is one of the applications most used by Gaelic football spectators. Our third critical success factor is hard to reach in a short time because to be a successful application in Ireland, people need to use this app for a certain time and be satisfied. During this time frame, the smallest problem your application has had a problem with the growth of the application. Therefore, it does not seem easy to achieve this factor in a short time, but we can reach the fourth factor in a short time because as I mentioned in the smart goal table no app shows the Gaelic football match clock and channels. Those who love this sport can use our app by many. To achieve these goals, we need a very good software in our application. Software that controls the operation of this software. If my app works without problem, people use it, and Ireland can be successful
4. Unique Selling Proposition (USP): USP of my app is very important to Gaelic football viewers because it is the only app that shows the time and channel of Gaelic matches.’ A unique selling point (USP) is a different factor that allows the company to differentiate itself from other competitors in the market.’ (Explain the importance of having a unique selling point (USP) | My Tutor, 2021). The purpose of this application is to provide sports viewers with easy access to the match time and channel. Especially for Gaelic football viewers, this application will bring great convenience. They will be able to easily see the time of the match and which channel it is on. At the same time, as it will have a reminder feature, they will be notified of the match before the game. This way, my app can get interesting in my target market because people sometimes forget the matches they want to watch for business or other reasons and thanks to this app, people will not miss or forgot any match. Our USP provides users with a significant convenience for the match they want to track. ‘Furthermore, a unique selling point, allows businesses to create a different image and therefore helps to increase the sales effort for the product is more powerful in itself.’ (Explain the importance of having a unique selling point (USP) | My Tutor, 2021). Our application will make a difference in the market when we have a different USP from your competitor.
5.
SWOT Analysis:
When you launch any product or service, there are strengths, weaknesses, opportunities to use, and threats to face. Ireland is a country that is successful in many types of sports and is followed by sports events by its people. It is one of the most successful countries in the world, especially in rugby and Gaelic football, so it has a large market in sports in Ireland. there are aspects in my practice that can be successful in this strong market. Our USP is one of our important strengths in the market as no one else has it. This will make a difference for Gaelic football viewers because only in this app they will be able to know the time and channel of Gaelic football matches. Since there are many types of sports in the country, the possibility of advertising and promotion is high. My app has the chance to reach all kinds of sports watchers. It will be new to the market and it is our biggest weakness because we are new to the market so it will take time for people to get to know the market and get used to it. It has less knowledge about Ireland market. There are some opportunities for implementation. We will be the first application to show the Gaelic football time and channel and this is a very important advantage. Another opportunity is that there are not many competitors in this market, but our competitors in this market are strong and long-standing companies in this market. COVID-19 is another threat we need to be aware of, because many sports organizations are cancelled or postponed because of this situation.
Market Analysis
1.
Research Methods Overview:
‘Businesses and organizations today are linked to their customers, customers, users, employees, vendors and sometimes even competitors. Data can tell a story about any of these relationships, and with this information, organizations can improve nearly every aspect of their operations.’ (Ainsworth, 2021). There are six data collection methods which are very popular in the market. Interviews, Survey, Observations, Documents and records, focus groups, Oral histories are six data collection methods. Interviewing as a data collection technique is very popular and widely used in all areas of social research. In a sense, the interview is an oral survey. Instead of writing the answer, the interviewee or subject verbally provides the necessary information in a face-to-face relationship. Therefore, these are understandably related to the person’s past and private behaviours, future actions, attitudes, perceptions, beliefs, beliefs, thought processes, motivations, etc. Not recording interviews is a limitation that should be taken into account. Interviews are verbal interaction and not created any technique to save these interactions. Lack of recording can cause problems after the interview because it is very difficult for one to remember everything in that interview. Some people feel very uncomfortable in interviews, and they usually give unwilling and short answers in such conversations. There is not much benefit from such interviews, and this is another limitation of the interview. Survey another important data collection method. The survey provides the fastest and simplest data collection technique on large and widely dispersed groups of individuals. In this method, a survey form is sent to the relevant people, usually by mail, to answer the questions and request the questionnaire return. The biggest problem of the survey is the possibility that the answers are not true, because the surveys are mostly online, people may be doing it just to answer. People’s opinions are very important for my application so the survey may not be very useful for my application. The way questions are important, so if you ask the question the answer should satisfy you. If the answers are not what you want, then you will have done that questionnaire in vain. You need to be careful while preparing the questions. Observation is widely used in sociological research. It is the most common and essential way of collecting data today. Observation tries to determine what people think and do by watching their actions while expressing themselves in various situations and activities. Observation is the process which one or more people observe the living conditions of people and make a planned classification based on events. It is done to evaluate the normal behaviour of people. Although it lasts longer than other ways, clear and useful results are obtaining, but Controlled observations may become invalid due to demand characteristics. Participants can act differently when they know they are being watched. In this case, the results of the observation cannot be obtained as desired. Data can be unmanageable. There may be a lack of consensus among observers. Therefore, large but unreliable data can accumulate.’ Internal records that a capacity builder can use include financial documents, monthly reports, activity logs, purchase orders, etc. May contain. The advantage of using records in your organization is the ease of data collection. The data are readily available, and no additional effort is required to collect them.’ (Data Collection Methods – Creating and Implementing a Data Collection Plan, 2021). Thanks to this method, documents are extracted and accessed easily. The information used may be from very old dates, so if they are not taken into account while using the information, the information used is unnecessary. A focus group involves dialogue with a deliberately selected group of participants discussing a specific topic. participants’ responses affect people in the discussion and the moderator is the person who leads the focus group. With this method, you can see the thoughts and reactions of customers about the product or campaigns. The moderator can ask the question he / she wants and get the answers you want by asking the question you want. The most important problem is that these groups are much more expensive than questionnaires. Also, in such groups, people may not be honest about sensitive matters. People can give answers that people want to hear instead of their own opinions on sensitive issues.
2.Industry Overview and Market Trends
: Irish is a very large market in terms of sports market. Especially this year, huge revenues have been achieved in this market. ‘Revenue in the Sports and Outdoor Sports segment is estimated to reach US $ 248 million in 2021’ (Sports & Outdoor- Ireland | Statista Market Forecast, 2021). The Irish government makes significant investments in sports. ‘According to a report by the Irish Sports Federation in partnership with Investec, for every € 100 the government invests in Irish sports, the industry generates up to € 195 tax revenue.’ (Roddy, 2021). It is not possible for the market not to grow in a country that even the government supports.
(
Https://www.statista.com/outlook/259/140/sports-outdoor/ireland
)
As you can see in the table above, the annual income of the sports market Ireland has grown from 2017 to this year, but this income is now expected to stabilize due to COVID-19. The sports market in Ireland also provided a huge business opportunity. ‘The Irish sports industry supports forty thousand jobs and encourages people to spend 2 billion and four hundred euro each year, and wishes to earn 1 billion euro in tourism.’ (Irish Sport Industry Awards | Awarding Excellence, 2021). For example:’ The estimated economic impact of the four UEFA Euro 2020 games to be held in Dublin next summer was lower, as the report outlined the € 300 spent per visitor.’ (Roddy, 2021). The sport market contributes to other sectors besides itself.
(
https://www.statista.com/outlook/259/140/sports-outdoor/ireland
)
As you can see above, ARPU (The average per user) in Ireland has been rising from 2017 to 2020, but due to COVID-19, this rise is expected to decline by 2021.’The average revenue per user (ARPU) is expected to amount to US$266.31’(Sports & Outdoor- Ireland | Statista Market Forecast, 2021).COVID-19 has affected many markets as well as the sports market, so there may be decreased in this market.
(https://www.statista.com/outlook/259/140/sports-outdoor/ireland)
The table above shows the percentage of age of people at the sports market in Ireland. There are people aged 35-44, with the largest percentage of 33.3% in 2020. People aged 45-54 have the second largest percentage of 23.3%. It ranks third among people aged 25-34, with %21.1. People between the ages of 18-24 and 55-64 were in the bottom with 11.1%. According to this table, people between the ages of 35-54, which we can describe as middle age, are the people who use the market the most. For this reason, products suitable for this age group may be more successful because the majority are from this age group.
3. Target Market(s):
Our target to the market is everyone that is interested in sports. My application is a product that will attract the attention of people in the sports market in Ireland, because this application shows the channel and time of the match, so people can be interested in this market. There are four market segments, and this product has the potential to be successful in each segment. The first market segment is geography. My application will start operating in Ireland at the first stage as a country. Users in each city in Ireland can use the application. I expect more users to use my application in the future and this will be programmed to meet. The language of the application will be English, but if the application starts operating in different countries in the future, an extra language will be added. This application can be used by the entire population of Ireland because sports in Ireland are enjoyed very much. There are 4,904 million people living in Ireland and my application might interest all of these people. Demographic division is another important market segment. I expect users between the ages of 18 and 64 to use my application. My application is not for a particular gender because both women and men watch and play sports. Since my application will be free for the first stage, the audience does not need to have a certain income. Every person with a telephone can uses my application, but when you have money, the fee will be 12.99 euro. Its social level is proper, and it is an application suitable for everyone to watch sports and it is an application that can be used by people in the family. My app psychographically appeals to all kinds of lifestyle and it that anyone interested in sports can use. It is an application that can be used by people of all beliefs also people who believe in all kinds of ideas can use it. Last market segment is behavioral market segment. I do not expect large numbers as the usage rate at first, but I expect the usage rates to increase as the application becomes known in the country. The benefits of the application are to be able to see the time and channel of any sports match and to be notified before or at the start of the match with its reminder feature. I believe the app will have a certain loyal client after a certain period of time because Gaelic is the only app where football viewers can see the time of the matches and the channel.
Competitor Analysis
1.
Key Competitors
: There are many competitors for sports app in Ireland but there are three very strong opponents among these competitors. Sky Sports, BBC Sport and ESPN: Live Sports & Scores are these strong competitors. All of these competitors offer similar services, but since ESPN and Sky Sports broadcast many matches, they show the match channels and hours. As the BBC is the most popular news channel, detailed information about the match is available there. Another service provided by these applications is that all kinds of information about sports events are available. ‘The BBC has television and radio broadcasting rights to various sports, as well as flagship analysis programs such as Match of the Day, Test Match Special, Ski Sunday, Today in Wimbledon and previously Grandstand by broadcasting the sport live. (BBC Sport, 2021). The BBC also provides services for the sports television service called the BBC Red Button. This service provides multi-screen service thanks to the red button feature and users can watch more than one match at the same time.’ The BBC annual revenue is £4.8 billion per year.’ (BBC, 2021). As the income of BBC sport is not disclosed, there is no information, but it is known that it also contributes greatly to this income. The biggest disadvantage of BBC sport against my app is that it broadcasts many sports events and gives a lot of news about these matches. It also attracts people because it broadcasts many sports events and shows live scores which is another advantage over my app. My application has advantages over BBC Sports. It My application will do something BBC Sport does not do as it shows the time and channel of the Gaelic football matches and this will provide a significant advantage to my application, and thanks to its reminder feature, users will be notified by the notification before the start of the Gaelic football match.is making a lot of news about Gaelic football, but since he is not the broadcaster of the matches, he has no information about the match time and channel. ESPN is another strong competitor in the market. ‘Thanks to the ESPN application, you can instantly access scores from Cricket, Football, F1, Tennis, Boxing, NBA, MLB, NFL, Golf and much more.’ (Download the ESPN App, 2016). With this application, you can see real-time notifications about the score and breaking news for your favorite teams directly on your device, also There are exclusive stories and video news of the teams and leagues you want.’ESPN generated revenue of at least $ 11.4 billion in likely revenue.’ (CFA, 2021). ‘With 29.1 percent, ESPN is the number one digital sports channel.’ (ESPN Customer Marketing and Sales – ESPN Digital, 2021). With this percentage, it has the highest share in the market. It is a disadvantage for us that ESPN has the highest share in the market, and it publishes news for a while for each sport. Especially in these news, it shares the time and channel of sports matches, but ESPN is a more news-oriented site so sports channels and hours are not their priority. This is an advantage for my app as they show great interest in sports branches that are not very popular in the world. Another major competitor is Sky sports. With Sky sports, you can follow the breaking news and live matches and has a very wide news network, especially with the Premier League and Championship. As Sky sport is the premier league and Championship broadcaster, it has an extensive news and broadcast network in these two leagues. It broadcasts 126 matches in the premier league and 112 matches in the Championship. ‘Overall, Sky’s content revenue increased by 17.5 percent in the three months leading up to September 30, reaching $ 388 million.’ (Impey, 2021). Sky sport is 1,153 in the world ranking. It is ranked 92nd nationwide in the United Kingdom. The biggest advantage of my application against Sky sports is that it is only effective in the premier league and championship and not as effective in other sports. Sky sports is a very strong company in Ireland as it is a premier league broadcaster and since the premier league is watched a lot in Ireland, users use the sky sport app a lot. Watching premier league audiences prefer sky sport app and this is a serious disadvantage for my app.
2.Competitive Advantage: My application will provide a different service from its competitors as the service it provides. In this case, it provides a competitive advantage to its competitors. None of our competitors aim to show users the time of the match and the channel because our competitors’ aim is to make news or broadcast the matches. Since the purpose of my application is to show the match clock and the channel, we try to offer this service with more attention than our other competitors. After creating our application, we will continue to work with a good software team, and we will add our latest technology developments to your application and ı think to gain competitive advantage against our competitors by making these improvements. Since I know how much Irish people love sports, this app will allow them to see all kinds of sporting events. Especially Gaelic football viewers could not see the time and channel of the matches from any application before this, but they will now be able to see it from my app. In time, we will appreciate the Irish culture and design the theme of applying it on special days according to that special day. We want to be a brand known and adopted by everyone in Ireland in the near future with advertisements and promotions. In this way, my app gain an advantage over our competitors.
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