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ENGG950 Innovation And Design

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ENGG950 Innovation And Design

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ENGG950 Innovation And Design

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Course Code: ENGG950
University: University Of Wollongong

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Country: Australia

Question:
Make a business plan about opening a supermarket in Victoria, Australia so all the researchs about the competitors and other information has to be in Melbourne, Victoria Australia.
Answer:

Research & development (R&D)/innovation activities
Skilled IT companies or outsourcing skilled specialist who can help in the innovations in the supermarket. For these to happen, the finances are needed to help fund the process. There is also the need of a Chief Technology Officer. If the management is great so do the work.
Intellectual property strategy
The innovations that will be implemented should be protected due to competition. There will be an agreement of confidentiality with the outsourced company to make sure every secret remains in the supermarket. The license to start the supermarket is already in place which is issued by the authorities on Victoria.
Insurance
Workers compensation: The insurance covers the workers in times of any injury in the line of work (Wu et al. 2015). It also covers the employee wage loss in case of time used while a worker is out of work due to injuries.
Public liability insurance: The supermarket also has the public liability insurance which protects the supermarket in case of damage to the customers (Taylor, 2018).
Professional indemnity: There is no need of getting this cover since the supermarket will not be offering professional services to any individual or company.
Product liability: There can be a problem with these products unknowingly; the cover can cover any legal action taken towards the product (Peace, 2017).
Business assets: It is one of the best insurance covers to have. The cover will help to cover assets if they are destroyed.
Business revenue. There can be interruptions like natural calamities that can make it hard for the business to get money. The insurance covers the loss.
Risk management

Risk

Likelihood

Impact

Strategy

High competition

Highly likely

High

Boosting innovations and the design to increase attraction and the innovations will make processes fast.

Legal considerations 
They are the consumer and commercial law. The consumer law protects the consumer against the faulty goods (GORDON, 2016). The commercial law regulates the hiring process, production and the sale of goods (Huang, 2017).
Operations
Production process
In this case, there is no manufacturing. The supermarket will be receiving goods from outsiders by the act of outsourcing. The products will, therefore, be put into the supermarket and the customers can take any product from the shelf and later pay.
Suppliers
The GK Fine foods will be delivering the wines and drinks together with the needed foods in the supermarket. The Mitchells wholesalers will also be the main suppliers who will supply the other products which are generally needed in the supermarket.
Plant & equipment

Equipment

Purchase date

Purchase price

Running cost

Computers

28/09/2018

$1600

$100

Vehicle

28/09/2018

$10000

$300

CCTV’s

28/09/2018

$500

NILL

Furniture and shelves

28/09/2018

$2000

$100

Inventory
[List your current inventory items in the table below. If you have a substantial inventory, you may prefer to attach a full inventory list to the back of this business plan.]

Inventory item

Unit price

Quantity in stock

Total cost

All kinds of flour

$1 kg

2000kg

$2000

Cosmetics

$1-2

Over 200 varieties

$500

Stationaries

$0.5-3$

Over 200

$500

Foods and Drinks

$1-10

0ver 100 varieties

$2000

Technology (Software): The software’s needed is the point of sales software and a website. The website is used to post news and get feedback and purchase online too. Point of sale is used in the supermarket. The cost of each is $100.
Trading hours: The trading hours are from 8:30am to 9:00pm. The peak periods are during the holidays when people are free from work and at these times the supermarket can close late at midnight. The peak hours expected are evening and night hours.
Communication channels: To make communication convenient, customers just need to access the supermarket website and all the details regarding the location, telephone, mobile, fax and email will be there.
Payment types accepted: There are various modes of payments that will be accepted by the supermarket. They are PayPal, Credit cards and Cash.
Credit policy: Credit payment is accepted by the business. The terms are that the payment should be paid within a month of purchase to give room for better customer service.
Warranties & refunds: The warranty of goods differ. Foods have no warranty in this case or refund same to clothes and shoes or any wear. The warranty applies to electronics and furniture. The warranty should be for a period of one year and a refund or maintenance is possible.
Quality control: All products are first approved by the Bureau of standards from the government and internal control to make sure all products are okay.
Memberships & Affiliations: The business is under individual ownership, there are no memberships just business partners who are the suppliers.
Sustainability plan
Environmental/resource impacts
There are fewer negative impacts of the supermarket to the environment (Ellickson, 2016). All wastes are disposed of correctly as per the law.
Community impact & engagement
The business will greatly help the community since the people employed will be from the community and that will be a benefit to them.
Risks/constraints
None
Strategies
The main strategies here is to make sure any waste that can be there are small amounts is disposed of correctly.
Action plan

Sustainability milestone

Target

Target date

Teach and educate the customers on the importance of good disposal

100% reduction

One Year

References
Ellickson, P. B. (2016). 15 the evolution of the supermarket industry: from a&P to Walmart1. Handbook on the Economics of Retailing and Distribution, 368.
GORDON, F. B. (2016). NEGRO IN THE SUPERMARKET INDUSTRY. University of PENNSYLVANIA Press.
Huang, W., Zhu, H., & Pan, Y. (2017). How relationship marketing tactics affect customer satisfaction: Evidence of supermarket industry.
Peace, K. (2017). Statistical issues in drug research and development. Routledge.
Taylor, M. (2018). Wrestling with Giants-A Critical Account of Supermarket Power and Competition Law in Australia and the United Kingdom. Australia Business Law Review, 41(5), 270-291
Wu, J. H., Neal, B., Trevena, H., Crino, M., Stuart-Smith, W., Faulkner-Hogg, K., … & Dunford, E. (2015). Are gluten-free foods healthier than non-gluten-free foods? An evaluation of supermarket products in Australia. British Journal of Nutrition, 114(3), 448-454.

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