Business Ideas Development: Plastic Recycling Business Assignment
Task: The objective of this individual assessment submission is to learn how to develop a business idea, complemented by brainstorming and leveraging the insights and skillsets of others. Assessment comprises two parts: Please submit a 5- page briefing paper of your business idea, its essential business model components, and aspects that will influence its success. A business model canvass can be included as an appendix.
This Plastic Recycling Business Assignment focuses on discussing solutions for pollutions and environment damage caused by plastic over the years. Although plastic is inexpensive but it so happens that, the durability of the materials that are composed of plastic. The production as well as use of plastic have incredibly increased and has created negative influences on the environment.
Therefore, the report aims at the identification of problems that are associated with the use and production of plastic. The Plastic Recycling Business Assignment will also talk about the definite benefits that are generated out of the use of product recycling business and plastic recycling process and will also talk about the proposed business model that helps in the identification of the necessary business activities and methods that needs to be taken into account.
At the present day scenario, it has been found that, the widespread use of plastics in the industrial sectors as well as for personal use has increased remarkably. These plastic recycling Business assignments are being prepared by our business experts from top universities which let us to provide you a reliable management assignment help service. It has eventually managed to create a lot of problems among the normal people in Australia, and has affected the environment in an adverse manner (Li, Tse & Fok, 2016). In addition to this, plastic in the present day scenario is often considered to be of the best solutions towards the requirement of varied applications. These applications tend to generate varied faculties and aspects that include versatility along with resistance properties.
Furthermore, it is also important to note that, the major uses of plastics are predominant in the construction and building industry in accordance with the manufacturing of electrical accessories and house wares. Plastic is used on almost every sphere of life of people and has managed to become an integral part of household activities as well. Therefore, from this definite point of view, it can be said that, the presence and use of plastic products in Australia along with its presence across the globe tends to play an important role. Hence, the manufacturers need to effectively ensure the estimated quality of the goods that are being manufactured at each definite level of production (Selke & Culter, 2016). After much assessment, there are certain problems that have been identified in the plastic industry. They are as follows:
- Increase in the Melt Flow Rate
- Defect in size and shape
- Uneven thickness of materials
Apart from this, the excessive use of plastic has created environmental hazards and is considered one of the major toxic pollutants at present, especially in Australia. As the primary composition of plastic comprises of non biodegradable substances and pollutes earth, hence, it further leads to air pollution and water pollution. As a result, the food chain also gets affected due the exaggerated use of plastic. Furthermore, the use of plastic has also created large scale damage to the environment, which includes the entire production process and also affects the disposal process entirely. Therefore, in order to prevent such facets and tenets, it is important to initiate product recycling business, which will help in producing new products from those biodegradable products. It will eventually help in the attainment of eco-friendly products (Jambeck et al. 2015).
The proposed business idea on this Plastic Recycling Business Assignment has been generated in order to mitigate the excessive use of plastic is the initiation of plastic recycling industry. The recycling of plastics will help in the conservation of natural resources that are associated with the aspects and facets of inventive and innovative methods and processes (da Costa et al. 2016). Furthermore, with the use of significant technology and inventive processes, it will be easy and convenient for the company to understand their business activities effectively. The following benefits are to be generated from the initiation of plastic recycling business, which are as follows:
- Effective conservation of natural resources that are present within the environment and are sent to landfill. Recycling plastic will therefore save over 7.4 cubic yards of landfill space.
- With the establishment of modern technology and new equipment’s, it is becoming increasingly easy and convenient for the company to recycle plastic in an effective manner. Furthermore, it is also important to note that, the Australian government has managed to take strict actions in accordance with reducing the excessive use of plastic and environment hazards in the country (Vegter et al. 2014).
- Another important benefit that lies ahead of this definite business idea is the fact that, the plastic recycling technologies across the globe will also generate the use of technology and equipment’s.
- As the company emphasizes on plastic recycling business in order to recycle biodegradables, therefore, plastic is one of the significant elements that needs to be recycled effectively. This type of business innovation and initiative creates a tentatively new dimension towards the attraction of new customers. It also helps in the significant revelation of the chances that are associated with the winning of contracts and eventually improving the facets and tenets of customer loyalty (Gu et al. 2017).
Proposed business model
In order to understand the definite aspects that are associated with the initiation of plastic recycling industry, it is important to abide by the definite rules and principles of business model. The initiation of a proper business model will help in the association and epitomisation of the supposed business activities that needs to be taken into account (Gourmelon, 2015). It will eventually lead to the effective understanding of the supposed interventions that needs to be undertaken by them for further business enhancement. However, in the context of plastic recycling business, it can be said that, there are certain building blocks, which needs to be assessed. These building blocks act as a manifestation of the estimated business activities that helps in ultimate business enhancement. These building blocks are as follows:
Customer segmentation: It refers to the target audience that helps in planning out the offering value associated with the services. In the context of business idea, the target audience of plastic recycling business will be mainly the business holders from different business sectors. These industrial sectors are namely construction and building industry.
Value proposition: The value propositions associated with the initiation of plastic recycling process is essentially built in order to explain the segmentation process of the business. The business idea will ultimately lead to unique offer and will result in differentiation of competition (Beulque & Aggeri, 2016).
Distribution channels : The definite distribution channels that are associated with value proposition of plastic recycling business will result in the attainment of strong relationships. The distribution channel of the plastic recycling business needs to be appropriate and effective so that it leads to proper business enhancement.
Customer relationships: The customer segmentation and the target audience that has been identified by the business model tend to manifest the necessary evaluations, which help in identification of customer relationships. As the company with its innovative business idea will be able to carry out the tenets of plastic recycling process, it is important to build up effective customer relationships for their future sustainability (Ranta, Aarikka-Stenroos & Mäkinen, 2018).
Revenue streams : The initiation of definite revenue streams help in the adjudication of the significant inventory processes. It so happens that, as the company will be able to abide by the basic principles of revenue policies that have been initiated, it will be easier to retain more amount of revenues in an effective manner. In order to understand the significant amount of revenue that has been generated by the company, it is important to create spreadsheets, which will help them to get notified regarding their revenue development.
Key resources: The key resources of the company are generally the assets that are tentatively available to the estimated business process, which eventually allows the company to effectively run their operations. In this context, the key resources of the plastic recycling business are namely the technical equipment’s and plastic recycling tools that will help the company to be technologically advanced and will result in business development in the near future (Gupta, 2017).
Key activities : The key operations identified on this Plastic Recycling Business Assignment is to remove and recycle the harmful non-biodegradable element, which eventually causes environmental hazards. Therefore, keeping the environmental regulations and laws in mind, it will be easy and convenient for the company to carry out their business processes more effectively.
Key partnership: The partnership or collaboration might be obtained from the government or any interested third party, who wishes to invest in this business initiative. It will help in attaining business success in a somewhat rapid manner (Lüdeke?Freund, Gold & Bocken, 2018).
Cost structure : The cost structure suggests the estimated cost infrastructure that needs to be effectively associate with the business processes and procedures (Zacho, Mosgaard & Riisgaard, 2018).
Critical success factors
The critical success factors of a business intervention helps in the identification of the definite aspect which will help them to attain success in every possible way. The growing utilization of plastic and plastic products is affecting the environment at a wide scale. The negative adversities that are being faced by the people across the globe will be mitigated with the initiation of plastic recycling business. The Plastic Recycling Business Assignment identifies one of the major associates of success factor in this perspective is securing supply. It implies the fact that, the company can make contract for supplying of post-consumer bottle along with industrial waste, which will later be used for material feedstock. In addition to this, the presence of contractual agreement with the suppliers of this recycling business is another critical success factor, which helps in virtual sale of initial production.
The feasibility of the entire business intervention lies in the fact that, it helps in the identification of certain perspectives, which needs to be assessed. It is to be noted that, since the use of plastic has managed to increase over 60% in Australia, therefore, the government of Australia is providing a keen opportunity to entrepreneurs to take a proper step against it, with the use of technological advancement and several other significant achievements, it will be easy and convenient to abide by the general facets and tenets that needs to be taken into account (Gupta, 2017).
In the light of the above scenario and analytical aspect, there are certain definite parameters, which needs to be taken into account. It is to be noted that, since the use of plastic has managed to create much inconvenience among the people of Australia, hence the initiation of product recycling business with special emphasis on plastic recycling will help in the attainment of definite business propositions. Business ideas and development of definite business ideas help in the initiation of the necessary business activities. It eventually acts as an emotional of the necessary processes and procedures that needs to be taken into account. However, this Plastic Recycling Business Assignment focuses on innovative within business activities to help build significant.
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