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Running head: BUSINESS IDEA
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6
)BUSINESS IDEA
Business Idea
Name of the Student:
Name of the University:
Authors’ Note
Introduction:
    Innovative skill of entrepreneurs plays an important role to develop business idea. Identification of the problems faced by these individuals is also considered to address necessary steps that need to be followed to develop the business plan successfully. The aim of the paper is to mention proposed business model considered for introducing diet chocolate in Australian market. Inclusion of innovative business plan is beneficial to introduce this product in target business scenario. Detailed analysis of success factors has also supported in addressing strategies that need to be followed to manage business function of the organization. Feasibility of collected data has also been evaluated that influences success of the newly proposed business plan.
Identification of problem visible in the industry:
    The current study has focused on the business idea of introducing diet chocolate named Sweet Bite in Australian market. Increasing health awareness among young population and their changing lifestyle have increased the popularity of these dietary chocolate. Controlling the usage of sugar and other chemicals has drawn attention of large number of modern age customers towards these items. However, there are certain challenges that are faced in introducing new business plan in FMCG sector of the target country market (Ramanathan, Bentley & Pang, 2014). Lack of financial resources creates an obstacle to introduce the product in the market. Financial scarcity reduces the chances of recruiting skilful marketers to address the demand of such diet food products in the market (Ramanathan, Bentley & Pang, 2014). Rigid trade policies of the government would also restrict export of this food item in internal market that influences profitability ratio along with sakes growth. Lack of recruitment of expert professionals can also cause trouble to maintain the quality of the product (Ramanathan, Bentley & Pang, 2014). Training sessions must be included to make the professionals aware of the necessary steps that need to be followed to introduce this chocolate in the market successfully. Lack of involvement of financial investors also generates trouble to gain initial capital that is required to maintain the productivity of such food item.
    Low financial stability of the organization has created issue to install advanced quality control equipment that must be installed to maintain the quality of product offered to the large number of consumers existing in target market. Lack of involvement of project management team also reduces the scope to manage break even time that is required to accomplish the project work successfully (Ramanathan, Bentley & Pang, 2014). Therefore, innovative business plans need to be considered to manage this financial matter. Inclusion of unique ideas is beneficial to control the cost of the chocolate that is...