Innovation Potential of Industrial Enterprise †MyAssignmenthelp.com

Question: Discuss about the Innovation Potential of Industrial Enterprise. Answer: Introduction: Managing Information System is a project in which an information system will be developed which will help in sharing the information related toenvironmental sustainability aspects (Melton Iles-Smith, 2009). The project is about developing an information system which will help the industries and corporations to take initiative for managing environment and work for the social cause (Miller, 2009). This will help the community and will help the people of Sydney in living a better as well as healthy life. Hence, a report is developed which will include a brief information related to how the project will be developed, what are the aspects which will be required in project development, what will be the time required to be invested in the project means the timescale, analysis of the market which will show the validity and reliability of the project and cost analysis which will help in evaluating all the cost that will incur in the project and the benefits which will be obtained by the proj ect manager by the project initiated (Petit, 2012). The business will be of providing online services in which all the queries related to the environment sustainability will be resolved (Scally, 2015). The project initiated will provide an online plantation nursery in which will provide ahuge variety of the plants. The nursery will help in providing the description of the plants and will provide the reason why they should plant that plant or tree and where they should plant the same. The online website will also provide gardener service and the sales person who will personally assist people for the plantation process and will help them in managing their plantation and taking initiation in environmental sustainability aspects. The business name will be Sustaining Environment, lets seed a sustainable future (Pandey, 2008). Expected Benefits/Current Situations and Market Opportunities Understanding the market and day to day need of the people in thepresent time it could be analyzed that no one has taken such type of initiative. Market Analysis The business proposed is for the environmental sustainability which is also attached with the sustainability of the community (Mainga, 2017). The plan proposed is new as well as innovative as no one is working on such type of project. People available in the market have a very little knowledge about the plants and the type of plant they should plant in their backyard or garden area. The proposed business plan will definitely attract many of the big industries and will help in attracting people towards the same (Gunawan, 2015). Such type of business proposals are unique and are helpful for the society as well as environment. The proposed project has a huge scope in the market. People available in the market prefer to plant trees in the society in which they are living. They prefer to plant tree in their backyards also there is a culture of tree plantation in industries and big firms. Hence, if the promotion of the website will be done in an effective way then definitely people will get attracted towards it and will ensure to provide an opportunity for the growth. SWOT ANALYSIS STRENGTHS WEAKNESSES Innovative plan Low competition Growing industry Government will help in funding aspects Low knowledge about the concept will affect the sale. Requires huge investment It is necessary a proper space should be availed for plantation of various trees and plants (Larson, Elizabeth, Richard, 2014) Availability of proper set of resources is very low in this industry OPPORTUNITIES THREATS The Huge scope is there in the market due to less competition. Advertising will help in attracting more people towards the website. More scope in other parts of the country once the business will get apositive response in Sydney (Gladden, 2012). There are huge numbers of people who can enter into the business. This will have a huge impact on the business It will be hard to spread the information in each and every home and industry in Sydney. This will have a huge impact on the progress of the company In short it could be summarized that there are various set of opportunities available in the market for this project. People are getting motivated towards environmental sustainability and are indulged in the practices of planting more trees (Fraser Ormiston, 2016). In this case with the help of the promotion assistance will be provided to the people and motivation will be provided so that they could indulge in the practices of planting more trees and could get attracted towards the project initiated. Target market for the project proposed is the urban areas and industrial areas. People in the urban areas do not have time for such activities but they want greenery in their surroundings (Dontoh, Ronen Sarath, 2013). Hence, the company will provide full assistance and help in planting more trees. Dis-benefits attached with the project are lack of knowledge, people available in the market does not have proper knowledge of the online websites for such aspects. It could affect the sale of the company. It could also be possible that the industries would not provide any order as they do not prefer to visit the websites and book the trees. To manage the orders from industries it is required that a person should visit them and provide information related with the website then it will be possible to gain orders from the industries (Amiram, Bozanic Rouen, 2015). The Benefits Review Plan There are various set of benefits which are attached to the plan of theonline nursery. This will help in attracting maximum number towards the website. Government will also take initiative for the noble cause (Kaczmarska Gierulski, 2015) This will help in spreading information related toenvironment sustainability This will help the society in sustainability aspects and will help the people in understanding why they should plant trees in the place nearby them or at their homes. The review plan also includes estimating whether the money invested will be returned after the project will be introduced to the general public (Li, 2012). It is also required to be taken into consideration that in what time the money will get returned after making the investments Evaluation of the benefits that the community will have with this project is also required to be done. The time plan developed will help in evaluating the time which will indulge in processing the project tasks. It will help in ensuring that all the activities of the project could get completed within the date decided. In this Gantt chart will be provided to ensure that the project could get managed in the way decided by the project manager (Mller, 2007). The project of developing an online website will get completed in 2 months but the process of theplantation of trees and developing a proper setup of thenursery will require approximately 1 year. This time will work as an investment for the trees, but in this one-year distribution of the small plants and seeds will remain continued. Such type of activity will help in the promotional aspects of the company which will provide a better set of support for the goodwill of the company. There are several sets of milestones which were developed for the project (Skonieczny, et. al., 2017). This will help in managing the things in a better and appropriate way. There are certain set of milestones which are set for the project. These milestone will help in managing the things in a better way and will help in managing all the tasks in manner which is required. In the above Gantt Chart the major milestones are project management, development of project plan, project scheduling, time keeping, technical design, data import and export, document designing, testing websites, training and gathering customer reviews. The cost that will incur in the development of the project is $60000 which includes all the expenses from availing the area of thenursery to the plants, seeds, wages of the gardeners and the expenses which will incur in the project development (Hunter, et. al., 2011).Although the project will be developed in $36000 and the rest $24000 will be kept for the nursery. The project development includes such a huge amount because the IT team that will be hired for the project development requires huge amount also advertisement and promotion of the project will also be included in the website development aspects. The cost also includes the expenses which will incur in the selection of the appropriate tool as well as thecost that will indulge in using that particular tool. Salary of the analyst as well as expenses incurred in the purchase of the systems will also be included in the expenses estimated for the project (Kerans, 2014). Cost Benefit Analysis Cost benefit analysis tool will be used so as to calculate the expenses which will incur in the project (Melton Iles-Smith, 2009). The reason behind using the tool is that it will help in gathering information related to the expenses which will incur in the project development and benefits which will be gained after the development of the same. Cost benefit analysis helps in availing both the information in which qualitative, as well as quantitative data, will gather with the effect of which a direction will be provided of whether to work on the project or not (Miller, 2009). Investment appraisal will help in determining the expenses which will incur in the development of the project and the benefits which will be availed by the company to the company. In this evaluation of the Net Present Value, Return on Investment and Payback Analysis will be done (Petit, 2012). These aspects will help in managing the expenses and will help in evaluating the benefits that the organization will get after thedevelopment of the project. Net present value is the indicator of profitability or loss in the undertaken project in real value terms. Cost benefit analysis was done and with the help of the analysis, it got to know that the NPV of the project is positive which means that the project will be beneficial for the organization. The rate of return calculated is 0.26 which shows that the project on which the company is working will not provide an effective return (Pandey, 2008). Rate of return of the project can be defined as the rate (in percentage terms) that will be earned by business organisation from the undertaken project or investment. Since, rate of return from the undertaken project is 0.26 or 26 %, it shows acceptable level as compared to other projects. The payback period calculated is 3 years which means that the organisation will get the total amount returned in 3 years. Payback period shows liquidity of the undertaken project and in this project liquidity is at acceptable i.e. initial investment or cash outflow will be received within 3 years. Majaor Risks The risk is involved in each and every aspects of the project. At every step of the project, one or the other risk remain attached (Mainga, 2017). These risks could have a huge impact on the progress of the project. It is required that all the risk factors which could incur in near future should be taken into consideration, doing so will help in processing the project in a smooth manner and will help in removing all the vulnerabilities which could incur in near future. Availability of appropriate resources is one of the prime risks which remain attached to the project. It is necessary that proper set of resources should be availed because failing to do so will have a huge impact on the progress of the project (Gunawan, 2015). Availability of funds is another risk factor which remains attached to the project. It is important that proper amount of funds should remain availed. Unavailability of funds will lead to affect the progress of the project. Lack of resources is another risk factor attached to the project management aspects. Market fluctuations will also have a huge impact on the project as it could be possible that market would not provide anappropriate response for the proposed project (Larson, Elizabeth, Richard, 2014). Lack of leadership will also have a huge impact on the progress of the project and will hinder in delivering quality to the project. These were some of the risk factors which will have a huge impact on the project. It is necessary that all these risk factors should be taken into consideration by the project manager as it will help in developing the strategies and plans with the effect of which chances of the occurrence of the risk will reduce. It is necessary that proper planning of the project should be done; planning will help in forecasting the risk factors which could occur in near future and will help in developing the strategies for minimizing the chances of risk occurrence (Gladden, 2012). Conclusion With the help of the project developed on Sustainable Environment, it could be concluded that a project requires in-depth analysis of all the aspects which could incur in the project. It is necessary that prime focus should remain with developing a unique and full proof plan for the project. The plan should include discussion of all the internal as well as external factors. Such type of activity ensures to provide a better support to the project manager to process the project. It is necessary that all the risk factors attached to the project should be evaluated. This will help in developing the strategies and will provide a suitable support for the progress of the project. Developing strategies and timescale will help the project manager in dividing the work and managing the priorities. Also, it is important that cost benefit analysis of the project aspects should be done because it helps in managing the project aspects and provide a better support to the manager to manage the same i n an effective as well as in an efficient manner. References Gladden, R. (2012). The Project Risk Maturity Model: Measuring and Improving Risk Management Capability.Project Management Journal,43(5), 101-101. Gunawan, I. (2015). Analysis of education and practical relevance of project management topics in New Zealand.International Journal of Project Organisation and Management,7(2), 174. Hunter, L., Myles, J., Worthington, J., Lebrun, M. (2011). 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