School enterprise Challenge Business Idea · PDF fileThe data analysis shows ... Camlin Recycling ... Section D: SWOT Analysis 5. This is our SWOT Analysis. Strengths
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1. Here is a description of the Market Research done by us, including how many people we spoke to.
The market research was done with our existing customers with the objective of collecting feedback about the products (crayons and candles) of Neo Creo. A sample of 50 respondents (Our customers – students, parents, professional) was randomly selected. The questionnaire comprised of 10 multiple choice questions, where the respondent had to tick the option according to his/her experience. Once the data was collected the same was tabulated, presented and finally analysed and interpreted so that useful conclusions can be drawn for future production and sale.
2. These are the results of our Market Research, including who is going to buy our product/service and why they will buy it. (The questionnaire, data tabulation and presentation in the form of graphs and pie diagrams are attached in the appendix section.)
The data shows that out of 50, 13 respondents have always purchased our products while 31 respondents have purchased our product sometimes. The remaining 6 respondents have never purchased our products. It shows that most of the respondents have either regularly or sometimes purchased our products thus it shows that we have a market for our products and that we should continue with our project/ enterprise of manufacturing crayons and candles with especial demand for candles.
Since only 44 respondents out of 50 had purchased our products. The data analysis shows
that out of 44 respondents 13 respondents purchased our products for personal use, 3 for professional work, 21 for school activities, 5 for gifting & 6 for any other respectively. This shows that most of the respondents were using the products either for their hobby activities and for school activities. Two of the respondents had selected more than 2 options hence the total of 46 is being obtained. Hence we can conclude that most of the users have used our products either for their school activities or for their hobbies like drawing etc.
Out of 44 respondents, 29 of them purchased our products for self consumption while 7 for
kids, 5 for friends as a gift and 3 for other reasons. This shows that most of the respondents are the actual consumers of our products and have themselves used the products thereby giving us a first hand information/ feedback about our products.
When the respondents were asked about the number of packs they bought. 19 respondents
replied 1box/pack, 20 said 2 packs and 5 of them bought more than 3 packs. Hence we can conclude that on an average the customers have purchased atleast 2 packs and the demand for our products exists in the market and we can capitalize on this demand in future and increase our market share as well as profits. In India people celebrate festivals with lighting of candles/ lamps as it is considered auspicious especially during Diwali there would be good demand for our candles.
The products of Neo Creo were put on sale through our school bookshop, enterprises stalls etc.. Around 21 respondents purchased our product from school bookshop, 18 from Enterprises stalls, 6 from local shops respectively. This shows that our customers prefer buying our products from the school bookshop as well as enterprises stall regularly. Hence we can supply our products through the enterprise stalls and school bookshop as our customers are concentrated in and around the school.
The respondents were asked about the price of the products, 28 respondents out of 44 were in
favour of the opinion that the product are priced reasonably while 8 respondents said maybe and 5 said that the products were not reasonably priced while 3 respondents were not sure of the pricing. Thus the results show that most our customers believe that the products are reasonably priced and we may continue with the current pricing even though a few customers need certain promotional incentives.
The respondents were asked about the non-conventional shape of the crayons. Out of 44, 38
respondents were satisfied with the unique shape of crayon while 4 respondents were not happy whereas 2 respondents were not sure. This shows that the unique and non-conventional shape of the crayons is in demand and acceptable by the customers and we may continue with the non-conventional shaped crayons.
The respondents were asked about the problem faced while using our products. Out of 44
respondents 23 stated that they faced no problem, while 4 said they were fragile, 9 said the crayons were difficult to hold while 4 said the crayons were difficult to blend and 5 said the crayons were less smooth.. Hence we can deduce that we need to work upon the size, durability of the crayons to make a satisfied customer base even though most of the customers were quite satisfied with our products. A respondents selected more than option hence the total in the table reflects 45.
The respondents were asked to rate our initiative of Recycling discarded crayons. Out of 44, 25 respondents rated our initiative as Very Good, 18 rated it as Good while 1 respondent had no interest in the rating. Hence we can deduce that almost all the respondents appreciated novel idea of recycling as we adhere to the dictum - Reduce, Reuse and Recycle whereby we not only pay attention to the land pollution caused due to the disposal of unwanted crayons but also encourage Recycling.
On asking about the probability of buying our products in future, 34 out of 44 respondents said
they will certainly buy our products while 10 respondents said may be and none of the respondents said NO to future purchase. Hence this proves that the customers are very happy with our initiative which would ensure a ready market for our products.
Conclusion – The feedback survey has enabled us to know the likes and dislikes of our
customers. The various changes that we need to bring in our products so that we have a satisfied customer base. Since our customers are concentrated in and around our school we need to use new methods of promotion like pamphlets/ flyers, posters etc to attract more (new) customer. There were a few problems with respect to the size of crayons as adults found it difficult to hold which we would overcome in the next batch of products. We would like to mention that our Neo Creo Enterprise is working on the right path of Environment protection and doing its bit in the field of sustainable development along with the earning of monetary gains (profits) through sale.
3. These are our main competitors and their strengths and weaknesses.
Competitor Name
What basis will we be competing with them on? Price, quality, location?
Strengths
Weaknesses
Camlin Recycling (sustainable development)
Market acceptability
Good reputation
Multiple shades of crayons
Huge investment
Capital intensive technology
Enjoy Economies of scale
Diversified product range - sell other stationery items like pencils, erasers notebooks etc
Good channel of distribution hence better reach.
Expensive
Do not recycle.
No focus on sustainable development
Crayons have the conventional shape of a colour stick.
Doms
Faber Castell
4. Our competitive advantage – This is why we are going to be better than our competitors:
Conservation and Collaboration is what the need of the hour is and our product focuses on this concept. Our product is a reasonably priced, environment friendly crayon available in different shapes and sizes which ensures sustainable development. We would be selling our product through a stall of our own in our school premises which would not only sell crayons but products made out of recycled crayons like decorative candles. Our enterprise is an initiative to make the planet a better place to live. We would be collaborating and collecting raw material (discarded crayons) from the neighbourhood schools. This would not only provide our enterprise with a regular supplier but also a ready market for our finished products. Where our competitors focus only on exploiting earths’ resources for their profit motive, we through our initiative are going to follow the principle of ‘Reduce Reuse and Recycle’ thereby solving the problem of land pollution. Our crayons and candles are non-conventional in shape available in different shapes and sizes at reasonable price produced using simple machinery and manual labour. Our initiative will not only provide employment to women belonging to economically weaker section but we would also donate a part of our finished product to the children living in slums.
deliver goods at the customer’s doorstep if they place a large order.
9. Feedback – customers are the pivot of our firm and customer satisfaction is our moto. To foster the trust in
our product and firm, knowledge of customer needs and expectations are a must. Feedback would be
collected by our PR team both at the point of sale and delivery points
10. Profit – the profits earned from the sale proceeds would be ploughed back into the enterprise for funding
further production.
7. These are the daily, weekly and monthly tasks we need to do to actually run our business:
Task
How long does it take?
How often? Daily/Weekly/Monthly
Who? Who will be responsible
Collection of raw material
1 week Monthly Logistics team
Sorting 1week Monthly Production team
Breaking 2 days Monthly Production team
Processing - recycling 2 weeks Monthly Production team
Packaging 4 days Monthly Production team
Marketing 1 hour weekly Marketing team – PR
Sales 1 hour Daily Sales team
Accounting 1 hour Daily Accounts team
8. Our business team structure – Here are the names and positions of the business team members with a reference if they are teachers/students and our organogram.
b) Equipment we don’t need to buy as we own/have access to: Most of the fixed assets mentioned above (except the new moulds) are already present in our enterprise hence we do not need to buy them. These equipments were installed in the enterprise in 2016 and are very much functional. We would utilize these assets for the production activities this year too.
d) We will raise the Start-Up capital needed for our business by: The capital investment Rs. 3000/- (approx) needed this year to run our enterprise would be invested from the profits earned from last year’s sale proceeds. Last year (2016) our firm earned a profit to the tune of Rs. 6000 (approx) of which a part of the profits was donated to a blind school and the remaining would be ploughed back for the running of the enterprise. This ploughing back of profits has enabled us to learn that how are the future expenses of any business enterprise met by the internal sources of funds and has inculcated the habit of thrift among the team members. Additional comments: During the future course of our enterprises’ functioning if we need funds then our head of the institution (Principal madam) has assured us a donation to the tune of Rs.5000/- to facilitate the smooth functioning of our enterprise.
Your opinion matter to us and we want to make sure the Awards Programme works for you. Please ask your teacher to fill in the following section. ONLY SCHOOLS THAT COMPLETE THIS SECTION WILL BE ELIGIBLE FOR AN AWARD. Please choose ONE option in each row.
A. STUDENTS’ IMPROVEMENT ON SKILLS After going through the activities to develop the Business Idea and Plan do you feel your students...
Did not improve
Stayed the same
Improved
1. Are more confident speaking in front of other people (e.g. during market research)
2. Work better with people with different opinions to theirs 3. Have improved their team working ability, e.g. if other team
members were struggling they offered support to them
4. Are more confident analysing information 5. Are more able to use their ideas to organise and plan work in
order to reach their goals
6. Are more able to look at different ways to solve a problem and are more confident in selecting a solution
B. YOUR OPINION ON THE SCHOOL BUSINESS PLANNING PROCESS
1. Through the school business planning process, which skills do you think students improved/gained the most (max 3):
Leadership Communication Aspiration
Confidence Decision making Other – Please specify:
Problem solving Team work
2. Do you feel the activities helped students improve their performance in other subjects at school? You can choose more than one option.
No Yes, in Science
Yes, in Maths Yes, Other – Please specify: the students have improved their ability to maintain accounts after having maintained the stock register, cash book, sales register etc. They have also become proficient in the handling of raw material and operating the machine.
3. Have the students used the skills learned through the school business planning outside school?
No
I don’t know
Yes – Please specify: The students are able to manage and participate in various events, competitions like debates, ad-mad shows , pamphlet designing etc. The students who were a part of the enterprise last year have trained their juniors and made them confident in various aspects of running the enterprise.
CONGRATULATIONS on writing your Business Plan! You can now GET STARTED and put all your learning into action! Now is the time for you to actually run your business! Remember to submit your completed business plan to the School Enterprise Challenge Awards
Programme by logging in to your account at: www.schoolenterprisechallenge.org/login