Business Environment

MBA-II (B) Assignment-1

Group Name: Vedanta
Group and Individual Reports

Group Member: Ankita Kumari Anshu Kumari Rajani Kumari Rahul Chakraborty Sachin Choudhary Sidharth Katyayan

Individual Report by Ankita Kumari

Ankita kumari ,am one of the team member from group .My contribution to the presentation on LED lights is to decide the place where is has to be launched and to find out the competitive products to it and to find out the political and economical analysis for the product. The decision for choice of place for LED involved many research processes like the awareness, income level of consumers ,the location for the market , warehouses , transportation cost was on focus. Next target was the substitute products and its benefits , where i searched about the Light Emitting Diodes (LEDs) , Incandescent Light Bulbs Compact Fluorescents (CFLs) I analysed these products in terms of life span , watts of electricity used , annual operating cost etc . this helped the team to explain the product in a more practical manner . The political and economical analysis is also critically evaluated so that the product would beat the barriers in its business. Political factors like various taxes and bureau of energy efficiency played important role whereas the economical factors like various norms which i have mentioned lays an impact on the commencement of LED business. My strength was my curious research and decision making power upon which all the members were agreed. Weakness with the team was the proper time management for discussion , to know the pros and cons of the effort made by each member for this presentation. If i would have been provided a different chance then i would have focused on the competencies for the product which needs a great research to be done. I had a great experience where i felt the zeal and interest among my members with lots of enthusiasm. I also learned the basic stages on how to start a research work and penetrate the market segments . During my work i explored Delhi in more detail and got to know the market scenario.

Individual Report by Anshu Kumari

As a member of a product scanning team I help in deciding the product, and finally we have with mutual understanding we selected production of led light. The products are all the rage in the lighting market. The technology promises to be more energy efficient, less environmentally harmful and more economical than traditional fluorescent tube lighting I contributed in the project to focus of environmental scanning. We look at scanning in various environmental sectors: customers, competitors, suppliers, technology; social, political, economic conditions. I scan about the competitors where I find many competitors like Wipro, Phillips, etc. A competitive and environmental analysis of markets includes all the key influencing factors that affect the way in which you can compete. I help my team to focus their scanning on market-related sectors of the environment. I researched about even if I know what the customers want and have the resources to meet the customers' demands, it may be that the competitive environment means that it is not worth pursuing particular parts of the market for a whole range of strategic reasons, such as the threat a price war, channel conflict, or legal or ethical considerations. Secondly what our competitors are doing thing, whether they are looking to change the basis of competition in the market, for instance by moving to a direct sales model, or by introducing some revolutionary new product or technology. One common issue that comes from looking at the competition is what do you do about it? The options are:
Ignore Fight Adopt

In practice, if there is merit in something new and you ignore it, it is likely to bite you later. If you fight against it, you add to your costs potentially just to save market share, rather than to win market share. From analysis about competitors I reached to solution that we have less competition from established companies because as they are not the producer of led light, they import from china. Presently, in China, auto LED lamps still concentrate in the OEM marketplace whilst the aftermarket is being started. It help my team in knowing about the competitors, where they will get maximium advantage in launching the product. I help in Benchmarking which is used to ascertain how well you are doing against the competition and in Market Intelligence is the primary mechanism for gathering information about competitors My strength in the team I help in analysing part ,knowing about the competitors ,help my team to know the competitors and implementation of certain strategy ,which help to maximumize the share in the market.It also help business to know the competiors weekness and make our strength.The weekness I face due to not proper working of my laptop,and unfavourable circumtances of not having internet during the main period research. I have done differently if you had another opportunity I like to launch the product packaging which is ECO FRIENDLY as this will decrease our credit reserve ratio, even it show positive about the product in the eye of government and target customer ,which even help in creating brand image. I learned from this whole experience to work in team, where opportunity to get different solution of a problem which even help in easy decision making . I even got an insight about the ways of doing a market research

Individual Report by Rahul Chakraborty

AIM The aim of the assignment was to make us understand the process and importance of scanning the environment before starting any business.

CONTRIBUTION My contribution to the group started from the very beginning when we all sat together to decide on the product that we would be launching. There were various ideas and inputs flowing in from various directions but after much discussion and debate we all agreed upon the Light Emitting Diode (LED) light as our business product. Next, I did the SWOT analysis of the product and how well it would fit the target market. Also it was my decision to decide the target market as government bodies and institutional buyers. After much research on the issue by other members of the group, it was identified that targeting individual customers or residential buyers would not be very feasible in the early stages. So I proposed the idea of targeting government bodies and institutional buyers as they would understand the benefits of the product much easily as compared to residential buyers. Also it would be easier for us to make them understand the cost benefit of the product; as a profit of thousands of rupees can be easily communicated than a savings of a few hundred rupees.

RESEARCH METHODOLOGY All through the assignment I followed secondary data collection method and also gaining certain valuable inputs from my friends and relatives who happen to be from the lighting industry. So, apart from the contribution mentioned above, I was also providing inputs from time to time which helped the entire group to understand the grasp the concept of the product extensively.

STRENGTHS I believe my greatest strengths was to hold the entire group together as a cohesive unit and getting the delegated work completed; which often included taking decisions which were against a certain individual but in the interest of the group. Apart from this I was also flexible enough so as to allow the group members to work on their own and not interfering in their daily works.

WEAKNESS My greatest weakness was that at times during the entire exercise, at times I was seeking perfection in the work to such an extent that I forgot that we are still budding professionals and tend to make mistakes. This perfectionist attitude, at times, let me lose my temper which hurt the sentiments of other members and delayed the work.

If I were to work individually, I would have gone for an in-depth and complete understanding of the rules, laws, regulations, policies etc. related to the LED lights in India and done a much more comprehensive research before presenting the business proposal.

This entire assignment has helped me lot in understanding how and why is it important to know and evaluate the environment before starting any business. Further it also helped me develop my leadership skills and also developed in me the spirit of working for the team and with the team.

Individual Report by Rajani Kumari

The main aim of the whole process was to make us understand the different ways of doing a thorough research of the business world before launching a product in the market. The very first step was to look in to the different projects which we could work on, so I gave my suggestions regarding the same to the team leaders and after thorough discussion it was decided that we will be working in LED Bulbs. Now the work was equally among us and I was given the responsibility to do analysis on the Political Scenario for launching of the product.

In order to do the analysis go through all the different policies of government for the Lighting Industries especially those related to LED sector and different meetings etc held so far like the ELOCMALED Lighting Conclave held in Delhi in January 2012. These facts helped the team to determine which areas are suitable for establishing the plant for the project and the laws which will be favorable for the same. Strength: In the team, my strengths were understanding among the team members, clear concepts about LED and self-confidence. Weakness: My weakness was the laziness, due to which I was not able to complete the task in time and delayed the work. From the whole experience, I have learnt many things such as: Concept of LED bulbs Advantages of LED bulbs over CFL and Traditional Bulbs. How it can bring a change in the lighting sector. Last but not the least the SWOT analysis helped to know the different factors that may influence any product and how it should be launched in market, so that more and more customers can be reached and retained

Individual Report by Sachin Choudhary

AIM The assignment was aimed to make us understand the different environments which impact a business and develop the research abilities before starting any business.

CONTRIBUTION I gave my share of contribution by researching on the political environment in India for the launching of the product and gathering the proposals which were given in the ELCOMA Conclave which happened in Mumbai in January. ELCOMA is Electric Lamp and Components Manufacturers Association of India and represents the Indian lighting industry. I did a research on the proposals that were given for the LED lighting industry in India.

After going through the proposals for the LED lighting industry, I also collected the relevant data and made it concise and precise to be used as useful information for the business proposal. All through the assignment I was also working with other group members and understanding their point of view and what inputs they had related to the product and tried to incorporate all the data provided by them into the slides of the presentation.

RESEARCH METHODOLOGY I followed the secondary research method and referred to online sites, reference materials and other material related to LED lighting in India. During the research I across very important comparisons between normal lights which we used earlier, CFLs that we use today and the LED lights.

STRENGTHS My greatest strength was that, being a good team player, I easily connected well with every member of the team and was easily approachable by everyone. I am also a good learner so any new concept or technology interests me very much and same was the case with LED lights. LED is a new concept and a new technology in India and so it interested me a lot to work on the assignment and understand it.

WEAKNESS At times I become over optimistic which tends to narrow down or rather block my view of the reality. In my enthusiasm of finding the impact of political environment on the business, I over ruled the fact there are other factors also that may affect the business and later realized and found that my area of research should have been a lot bigger.

If working individually, I would not have chosen this product. I would have rather chosen an automobile as that is my area of interest and attracts my attention and understanding quicker as compared to LED lights. I would have launched a concept car.

This entire assignment has helped me lot in understanding how and why is it important to know and evaluate the environment before starting any business. It further developed me as a team player and made me understand that at times one needs to subside or give away his feelings or interests for the broader interest of the group.

Individual Report by Sidharth Katyayan

The main Aim of the whole process was to make us understand the how a thorough research of the business world is done before any concept is converted into a product and launched in the market. The first phase of the work was to sit together and identify the various projects on which we could work. After a brief discussion and looking into the different aspects of all the options that were in front of us, we decided to work on LED Bulbs, which is an upcoming technology in lighting business which is one of the largest sectors of the business world. Now after the selection of the product with consent of all group members, the work was equally divided among all the members depending on their capabilities and interests. As a member of the Vedanta Group, I was given the responsibility to find out the compare the traditional bulbs ( Incandescent Light Bulbs), Compact Fluorescents (CFLs) and LED Bulbs (Light Emitting Diodes) under different scenarios and to prepare the final draft of the presentation. In order to compare the 3 products I consulted some of my friends doing M. Tech from IIT and NIT and the various articles and other sources available on Internet and of course the proper guidance by the group leader.

I also proposed that since most of the students might not be knowing what an LED basically is, we should also include a brief introduction of it, as it would give the audience a better understanding about what we actually wanted to deliver them. This concept was appreciated and accepted by the group. After collection and thorough analysis of the data related to the project our Group Leader made a rough presentation and gave it to me to make the final draft. Since, I wanted to give the presentation a different look as if the audience is watching a movie, I ended up making something which was not at all professional, which was my Strength, but, ended up as my Weakness, now I had to again make the presentation, but this time I took consent of my Group Leader at different areas so that the work may not be delayed further and we may have the things ready beforehand, so that that we have plenty of time inhand. It is through this project I understood the true potential of LEDs. As I am from a B. Tech background I always thought that LEDs can only be used for Display Purpose as we have in Metro Rails, Hoardings and Buses etc. This project brought a new approach to my thinking and made to Think Beyond Boundaries. Last but not the least I would like to say that, it was a great experience while working on this project with my group members.