Scenario You and a group of enthusiastic colleagues have recently graduated from university, and are eagerly discussing a possible joint entrepreneurial venture, focusing on the production of environmentally friendly electric vehicles. To fund this new venture, the team has been advised to come up with a solid implementation plan, supported by the strategy implementation framework to include detailed information on the business concept, strategic vision, mission, revenue model, financial objectives, and projections and much more. The rising use of hybrid and environmentally friendly electric vehicles (EVs) represents a significant shift in the automotive industry, with various factors contributing to its increasing popularity, environmental awareness and climate change concerns topping the list. Considering how competitive the business sector is today, it is important that you also consider various alternative organizational strategies, as well as develop a sustainable competitive advantage, to remain financially viable. You are required to prepare business implementation plan for your proposed business to include the following: Introduction The Business Name is ECORYDES Provide brief background. You are required to include the business concept and give justification for the profitability of this venture in the current market or economy. Emphasize the unique selling points of the business. Identify the products and services that the company intends to offer, to include the target market. Financial and Strategic Objectives THOROUGHLY EXPLAIN AND Compose three financial objectives and three strategic objectives for the business (ECORYDES).

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

Scenario
You and a group of enthusiastic colleagues have recently graduated from university, and are
eagerly discussing a possible joint entrepreneurial venture, focusing on the production of
environmentally friendly electric vehicles. To fund this new venture, the team has been advised to
come up with a solid implementation plan, supported by the strategy implementation framework
to include detailed information on the business concept, strategic vision, mission, revenue model,
financial objectives, and projections and much more. The rising use of hybrid and environmentally
friendly electric vehicles (EVs) represents a significant shift in the automotive industry, with
various factors contributing to its increasing popularity, environmental awareness and climate
change concerns topping the list. Considering how competitive the business sector is today, it is
important that you also consider various alternative organizational strategies, as well as develop a
sustainable competitive advantage, to remain financially viable.

You are required to prepare business implementation plan for your proposed business to
include the following:

Introduction

The Business Name is ECORYDES

Provide brief background.
You are required to include the business concept and give justification for
the profitability of this venture in the current market or economy.
Emphasize the unique selling points of the business.
Identify the products and services that the company intends to offer, to
include the target market.

Financial and Strategic Objectives