Attached is my paper, these goals have to be in relation to my paper. – Very Important
Description:
In this phase of your Capstone Project, you complete first five pages of Capstone
Project. This page requirement does not include the cover page and the reference
page. You will begin to organize the Capstone project by developing goals and
objectives.
Instructions:
You will focus on developing the goals and objectives of your project. You will be
conducting in-depth research and identify sources necessary for your plan. According
to your research:
1. You should state your problem or opportunity (Approximately one-two
paragraphs)
2. Give a general background of this issue (Approximately one page)
3. You will create 3-5 overreaching goals and 4-5 SMART objectives for each goal.
Please see Until 3 Readings and Resources for further explanation of creating
both goals and objectives. (Approximately 3 – 4 pages). Note: these goals and
objectives will likely be modified as you build the rest of your paper further your
research throught the coming weeks
Requirements:
• Your Topic Statement should include the sections listed in the instructions.
• Your research should include at least 5 professional resources
• Length: 5 pages, excluding title page and references.
• APA is required (in-text citations and formatted reference page), including section
headings and 3rd person voice.
Gabriel A. Nunez Unit 2.2 Assignment: Capstone Outline & Business Proposal/Plan
Concentration: Supply Chain Management
Malcolm Baldridge School of Business
Post University
BUS 700: Capstone
Professor McGivern
November 5th, 2023
Tentative Topic Title: Renting out vehicles utilizing a ride sharing platform that exist on the web and application for people to rent in the Houston area.
Target Organization: G&G Liberty
G&G Liberty, they are a car rental business that provides users with a peer-to-peer car-sharing platform for individuals to rent cars in Houston Texas and follows the principles of the shared economy approach. Utilizing Turo, a web and application platform that streamlines the car rental process, offering a wide range of vehicles, flexible rental options, and efficient payment and reservation systems while earning commissions from these transactions. Turo was selected by G&G Liberty due to the fact that of its brand and wide customer base reached all of the United States.
What is the Problem or Opportunity:
I propose to complete a feasibility report to explore the financial viability of a peer-to-peer car-sharing rental business model. The proposed rental business model revolves around earning commissions from rental transactions between app users. The purpose of this report is to assess the potential for success, identify key challenges, and outline a preliminary plan for the business under this specific context. Also, Peer-to-peer car sharing is a rapidly growing market segment within the rental industry. This business model provides an efficient alternative to traditional resource-hungry rental business models as it leverages shared economy principles through an app-based platform, and I would like to explore some of the market capabilities to produce maximum customer demand.
Case for Change (Why do it?):
I have selected this topic due to figuring out a way to get vehicles that have low mileage and cheaper than normal. Once I did some research, I found out that the peer-to-peer care-sharing market size reached US $1.6 Billion in 2021 and is expected to reach US $7.2 Billion by 2023. The market size is expected to grow with an annual growth rate of 17.6% from 2022-2030 ( P2P car-sharing market size, and Demand Insights, 2022-2030, n.d.). The sharing economy, including peer-to-peer car sharing, is a rapidly expanding market globally. It represents an opportunity for individuals to monetize their underutilized assets and for consumers to access convenient services. When I came up with the idea to venture into this type of business I felt that since Houston has two large airport on the north and south part of the city, there would be a steady customer demand base always generating positive cash flow.
MBA Concentration & Topic Format:
My concentration is in Supply Chain Management, I selected it because I have over 22 years of experience in that field. I have decided to create a business plan and target it with a feasibility report to help improve my business. This report is to assess the potential for success, identify key challenges, and outline a preliminary plan for the business under this specific context. This course will help me by sharpening my skillset and creating financial objectives and analysis on investments that would help with the success of my business.
Program Content: I plan to use several program concepts which I have learned throughout my MBA journey. These concepts consist of a feasibility report including an introduction, marketing aspect, the management aspect, the operational aspect, the financial aspect, the economic aspect, and the conclusion. These concepts will include several different types of analysis capturing a clear picture of the business which are all essential parts of my MBA program learning objectives.
Innovation Focus:
Innovation would be introduced into G&G Liberty’s giving them an edge against their competitors which would be demonstrated through its project selection. Key competitors in the peer-to-peer car-sharing industry include Turo, Getaround, and Zipcar. The rental app business must differentiate itself from its competitors through the use of technology or optimization of delivery of services while beating the competitor’s usage prices.
Outcomes & Quantitative Thinking:
The project is not susceptible to appropriate financial analysis and quantitative measurement to evaluate its success and performance, revenue will primarily be generated through commissions on rental transactions, advertisements, and promotional collaborations with advertising platforms. We expect a 15% increase in the number of users and income on a year-on-year basis as the popularity of the app rises. The business is expected to reach profitability within the second year of operation, considering initial investment and operating expenses.
Such measurements could be demonstrated in the following methods:
Key Performance Indicators (KPIs):
Commitment rate: Measure the percentage of trips you accept. Track how often G&G Liberty meets or exceeds delivery to the customer.
Revenue Growth: Monitor the organization's revenue growth, analyze how this revenue stream contributes to overall growth and financial stability.
Customer Satisfaction: Use customer satisfaction reviews to quantitatively measure customer happiness and identify areas for improvement. High satisfaction scores can lead to repeat business and referrals and give you a 5-star host rating.
Financial Analysis:
Cost Efficiency: Measure cost-efficiency by comparing operational expenses to revenue generated. Ensure that the business maintains a healthy profit margin while offering competitive prices.
Break-Even Analysis: Use quantitative analysis to determine the point at which the project becomes profitable and how much revenue needs to be generated to cover initial costs.
Cash Flow Analysis: Quantitatively analyze the organization's cash flow to ensure it has sufficient liquidity to meet operational and financial commitments, especially in case of unexpected setbacks.
Financial Projections
G&G Liberty has proposed an initial financial investment limit of $50,000.
Cost Allocation Breakup
|
Operations and Maintenance |
$40,000 |
|
Marketing and Promotion |
$2,500 |
|
Customer Support and Operations |
$2,500 |
|
Legal and Regulatory Compliance |
$5,000 |
Competitive Benchmarking:
Quantitative Comparison: Quantitatively compare G&G Liberty’s performance with that of another ride share host. This can highlight areas where G&G Liberty excels and areas for potential improvement.
Defining Success: Defining the success of the G&G Liberty’s involves setting clear, measurable objectives and regularly assessing the organization's performance goals. A few of the goals that need to be assessed are as follows:
· Target Market
· Market Size
· Revenue Projection and Profitability
Conclusion
The proposed business model is expected to be a profitable business venture provided that the proposed app differentiates itself from the competitors through innovative technology and seamless delivery of services.
References
P2P car-sharing market size, and Demand Insights, 2022-2030. P&S Intelligence. (n.d.). https://www.psmarketresearch.com/market-analysis/p2p-carsharing-market#:~:text=Market%20Overview,17.6%25%20during%202022%E2%80%932030.
Goldman, S. (2008, 05).The North American Carsharing Industry Zipcar, Inc. and 3 Major Competitors. https://portfolio.du.edu/portfolio/getportfoliofile?fiuid=73397.
Enterprise Carshare – Hourly Car Rental and Car Sharing. (n.d.). Retrieved fromhttps://www.enterprisecarshare.com/us/en/home.html.