Smartphone and Artificial Intelligence: Smartphones were introduced with an idea to access most things with a single device music, games, internet and what not. Although nobody thought how powerful a mobile could be, AI (Artificial Intelligence) made it possible. Right from the phones, to watches, television, refrigerators, working desks and mirrors smart became the suffix. Technologists did not just come up with an evolution but also found a way to make it affordable and bring it into the peoples lives. Smart Home Technology: Smart Home Technology was introduced in the early 2000s. Everyone in the world began talking about the Internet of Things (IoT) when it came to smart homes. Slowly and gradually, home automation using IoT and connectivity became increasingly important to customers. With the prevalence of smartphones, the demand and urge to control smart home gadgets from a single app increased. Smart technology has become so common that there is not a single part of home life that it hasnt touched. From VAs setting up an alarm to robots who can feed our pets and take care of daily and repetitive tasks.

Answer ALL Questions.

You are to prepare the Ten-Ten Planning Process based on two templates for the possibility of launching the new smart technology product smart serving robot into the Malaysian market :-

i) Organizational and Industry Analysis template and

ii) the Business Plan Overview template that identifies the mantra, mission, money, goals, objectives, and tactics; to conceptualize the business idea through building the business.

The TenTen process is meant to be quick and to the point, but it can be expanded to 10 hours, 10 days, or in some instances 10 weeks, but rarely more than that. These templates along with the FAD (features, attributes, and design) template can be used to develop the executive summary. This in turn can be used to develop a full-blown business plan, which is the foundation for building the business

Organizational and Industry Analysis Template

1. Give a brief description of your business model including what products or service you are producing or will produce?

2. Describe your target customers and the size of the market?

3. List and describe your current competitors?

4. List and describe your potential competitors?

5. How will you acquire or purchase materials, components, intellectual property or other inputs?

6. SWOT (consider human resources, R&D, marketing, procurement, manufacturing, distribution, engineering, IT, finance, accounting, and legal)

What are your internal strengths (products, R&D, supply chain, brand, pricing, core competencies, resources, infrastructure, scalability and interfaces)?

What are your internal weaknesses (products, R&D, supply chain, brand, pricing, core competencies, resources, infrastructure, scalability and interfaces)?

What are the external opportunities (growth, market share, product lines, Blue Ocean, complementary products, lock-in, brand, and first mover advantage)?

What are the external opportunities (growth, market share, product lines, Blue Ocean, complementary products, lock-in, brand, and first mover advantage)?

7. What have you tentatively chosen as your business name and the name of your products?

Business Name

Product Names

You should also update the Strategy Canvas that you developed using the FAD template if you have identified new competitors and products that have entered the market.

Business Plan Template

1. What is your mantra considering differentiation through Innovation or cost reduction (3-10 words on why your company should exist)? We develop keepsakes for your keepsakes Quality software through hard work and creativity

2. What is the overall mission of the business (1-3 sentences on what your company does or will do and your target customers)? We use high quality materials and craftsmanship to develop superior jewelry boxes for the discriminating buyer. We develop general purpose and customized charity events planning software for non-profit organizations.

3. How will you make money in terms of product differentiation, being the low cost producer and what complementary products and services will be offered in order to generate recurring revenues? We will generate profits by constantly introducing jewelry boxes with new features and cutting costs by using building technology to lower costs. We generate most of our revenues by developing high-end customizable charity planning software. We will keep development costs down by developing software modules that are conducive to adding and subtracting features. We will generate additional recurring revenues by offering upgrades and providing customized systems development for non-standard applications.

4. What are your goals & objectives over the next 3 months to year (2-6 phrases on precise performance intentions)? Launch new product in July. Increase sales by 5% over the next year.

5. What tactics will you use over the next 3 months to a year to reach your objectives and mission (2-6 phrases)? Purchase a high performance band saw. Hire employees in April to develop new customer interface software. Develop a radio marketing plan for introducing new product in November

Total 2500 word