Development of product-based businesses: Case study of clean wave hand hygiene enhancer
Kimutai, Daniel (2020)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202005057285
https://urn.fi/URN:NBN:fi:amk-202005057285
Tiivistelmä
The orientation of a product plan differs from a service-related plan on certain aspects. The detailed features of a product related plan such as market research, competitor analysis, product development and product rollout, require special emphasis on how they should be considered and implemented. Therefore, for a product plan to meet its requirements, problem statements must have clear solutions, marketing and competition strategies should be well defined and business tools, including other relevant and significant strategies should also be well implemented.
This thesis was inspired by successful completion of Oulu university development lab’s concept creation, demo creation and the actual product path within the concept of design thinking (Brown 2009). As a result, a hand hygiene device was developed, and named clean wave hand hygiene enhancer. The author of this thesis was tasked with creating a business case for the device. An experience that influenced the author to seek an understanding into how business models are developed, from a product-based, business plan perspective.
Therefore, the process of understanding business development from the case study, was divided into four approaches: How product-based business plans are written, strategy tools needed to understand the Finnish business environment, the Finnish market entry strategies and the actual writing of a business plan document. The theoretical background of this thesis has been sourced from books, journals, previous thesis completed on the subject matter and online materials on the topic.
The business plan report prepared by the author, indicates that there exists different business plan models, strategies, analysis, and formats on how business plans are documented. In conclusion the outcome of the business plan according to the author proved that production of clean wave hand hygiene enhancer was not a feasible business to engage in. The main factors that support this conclusion, being entry to market barriers already set up by big monopolistic companies and profitability equation that is not attractive to investors.
This thesis was inspired by successful completion of Oulu university development lab’s concept creation, demo creation and the actual product path within the concept of design thinking (Brown 2009). As a result, a hand hygiene device was developed, and named clean wave hand hygiene enhancer. The author of this thesis was tasked with creating a business case for the device. An experience that influenced the author to seek an understanding into how business models are developed, from a product-based, business plan perspective.
Therefore, the process of understanding business development from the case study, was divided into four approaches: How product-based business plans are written, strategy tools needed to understand the Finnish business environment, the Finnish market entry strategies and the actual writing of a business plan document. The theoretical background of this thesis has been sourced from books, journals, previous thesis completed on the subject matter and online materials on the topic.
The business plan report prepared by the author, indicates that there exists different business plan models, strategies, analysis, and formats on how business plans are documented. In conclusion the outcome of the business plan according to the author proved that production of clean wave hand hygiene enhancer was not a feasible business to engage in. The main factors that support this conclusion, being entry to market barriers already set up by big monopolistic companies and profitability equation that is not attractive to investors.