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7.For your business idea, what are the demographic, psychographic, technical, and societal changes as well as the political and regulatory forces in your industry.
Demographic: In the last decade the warehouse industry has moved increasingly to hiring younger temporary workers who can lift heavy objects and sustain a very high rate of order fulfilment rather than older workers with industry experience.
Psychographic: Younger workers have used smartphones and advanced technology from a young age, we expect them to adapt to new technology in the workplace rapidly. Younger workers are expected to adopt new technologies like AR in the workplace with little difficulty. Technical: Most warehouses have existing wireless networks to support existing equipment. The addition of AR wearables within the warehouse should require minimal additional investment in technical infrastructure
Societal: There has been a large shift towards part-time work within society. Warehouses are struggling to train temporary and seasonal workers at the lowest possible cost.
Political and regulatory: Warehouses are strictly regulated at the local, state and federal level. Legal compliance is a must for the company, mistakes lead to huge fines and customer dissatisfaction. Warehouses must maintain strict supply chain tracking to ensure authenticity of goods. Many goods must be maintained at specified temperatures and levels of humidity to ensure product quality at delivery.
In the final project, you will individually integrate and apply your knowledge to develop a new Opportunity Analysis Canvas for yourself by responding to the provided questions. Focus on an opportunity for which you can develop and launch a product within the next 12 months. Your solution should leverage your skills and relationships, and require initial funding of no more than $25,000 to bring the product to market.
Be sure that if you are proposing a hardware or software solution requiring technical expertise, that you presently have this expertise or have a feasible plan for development based on the principles discussed in the course and the $25,000 funding limit for this assignment.
You may review the questions ahead of time as this assignment is not timed. This is a substantial assignment that should be started weeks before the due date. I encourage you take a moment today to review the questions. We suggest that you copy these questions and author your responses in a Google Doc or Word-compatible document before submitting them into the Canvas fields for submission by the due date. Be sure to save this document and not edit it after the due date in case a backup copy is needed to evidence your on-time completion. This will also provide you with a copy of your ideas and plans that will live beyond your access to this course.
For questions 5 through 10, be sure to include in-text citations (Links to an external site.) for each response that aligns with your references to support your analysis for this question.
There should be at least unique 10 reference sources (i.e. 10 different articles, reports, etc.). While you may repeat a citation (i.e. reference one report multiple times), referencing one report multiple times counts as one citation.
As these references should be specific to the industry, competitors, market, etc. for your new venture, do not include the textbook, articles, lectures, or lecture slides for the course as references.
Also be sure to include a breadth of references; at least ten different references should used in this project.
In-text citations do count as part of the word limit.
In your response to question 11 at the end of this assignment, list the full reference in APA format (Links to an external site.).
Be sure to stay within the word count limit of 220 words for responses 1 to 10. Responses that exceed this word count will be graded as a 0. The word count does not include the question or the reference. The word count does include in-text citations. There is no word count limit for the references page in response 11. This approach aligns with how competitions, grants, awards, etc. are evaluated for startup companies as applications that do