BUS306 George Mason University Product Design Project i have attached all the files this is project, and its due in 3 parts, i have done element 1 and you
BUS306 George Mason University Product Design Project i have attached all the files this is project, and its due in 3 parts, i have done element 1 and you will be working on element 2i will attach the requirements for element 2in future i will need element 3 Improbable
Possible
Moderate
Probable
Near-Certain
Catastrophic
5
10
15
20
25
High
4
8
12
16
20
Medium
3
6
9
7
15
Risk
2
Low
Risk
1
2
4
6
8
10
Very Low
Severity of Impact
Probability of Occurrence
1
2
3
4
5
Sidhu 1
Hardev Sidhu
MBUS 306
Al Baharmast
30 September 2019
Company name: Sidhu Transport
Product Design Project Element 1: Strategic Analysis
As part of the product design project, I am creating a company, Sidhu Transport, that will
provide transportation services to individuals without a car or drivers license. My companys
name was inspired by my last name and my passion for the automobile industry. Sidhu Transport
will operate daily and target customers who are looking to get to and from work on a low budget.
Customers can reach us by going to our website and booking their ride. My company is different
from uber or any other transportation company because we will provide monthly services to
customers, on a fixed price. Also, we will provide discounts for customers who would like to
pre-pay for several months, or even years in advance. In addition, with Sidhu Transport, anyone
can book a same-day ride, or any rides for the future. It will be a service available all throughout
the U.S., and the website will locate local drivers to show availability.
My company will utilize competitive strategies to ensure success in the business. We will
pursue differentiation because there is no other transportation company in the market that runs on
monthly prices. The fixed monthly payment will be for regular customers who will need our
service every day, or multiple times a week. With the monthly fees, they will get assigned a
driver, who they can contact personally whenever they need a ride. For example, this one driver
will be responsible to take that customer to work, and back home. In addition, the customer may
Sidhu 2
contact his/her driver whenever else needed during the day. The company will make sure that the
driver, that will be assigned to a customer, resides within a 10-20 miles radius to the customer, so
it is easy for both the driver and the customer to pick and drop.
Furthermore, cost leadership will be used to outdo other companies. In my opinion, cost
leadership is the most important competitive strategy because everyone, and I mean everyone, is
looking to save some bucks. Sidhu Transport will increase profitability through the benefit of
reducing the cost of the services in order to attract more customers. Our monthly fixed price to
have a driver assigned to you will not be nearly as expensive as it would be to take an uber or
taxi everywhere for a month. The customer will pay $600 a month to have a personal driver and
car only a phone call away. If we divide this price by the 30 days of a month, it will come out to
the customer paying about $20 a day. Only $20 a day for unlimited rides is an amazing deal
compared to an uber or taxi, which would cost almost $20 only to get from one place to the next!
With this, the driver will be paid 75% of the cost, while the company keeps the 25% as profit.
Another important strategy is responsiveness. How well the company maintains
responsiveness determines how well the companys profit will be. It is crucial to make the
customer feel important. People will only invest their money to a company who will value them.
Responsiveness is all about being fast and right. Customers want something that will meet their
needs, and it is our job to ensure the speed and value with which its produced. My company will
make sure we answer the phones and check our website for bookings regularly and respond back
to people as soon as possible. Also, responsiveness will include the ability to respond to the
changing conditions of customers or any complaints/issues there may be. My company will make
sure to hire skilled drivers who will maintain hospitality and kindness towards their passengers.
Sidhu 3
The strengths and weaknesses of the company are internal factors and things which I
have direct influence over. On the other hand, opportunities and threats are factors external to the
company and its product. They are things I have little direct influence over, but careful
assessment and action of these factors can be vital to success. To assess the competitive
environment of my company, I have created a SWOT analysis of Sidhu Transport.
Strengths:
easily accessible; we can be reached through our website which can be accessed through
a smart phone or laptop
exceptional services for cheaper prices based on a monthly fixed value; the price you pay
per month provides an unlimited number of rides you can take
well-organized company with high standard of service with verified drivers and cars
online reservation and payment system
one specific driver will be assigned to a customer for an entire month, or longer, which
will promote bonding and connection between the driver and passenger; it will create a
sense of loyalty and safety and ensure comfort of the customer
Weaknesses:
competition with other transportation companies
not marketed yet; it is not popular yet
privacy concerns of the customer
Opportunities:
adding additional services, such as, allowing customers to rent cars without drivers
spreading services to suburban areas where taxi services are not available
Threats:
Sidhu 4
possible waiting time for the customer if the driver is running late, leading to
dissatisfaction of the customer
drivers not being happy with low-profit margins after taking out expenses for gas, travel
time, etc.
not finding drivers in close regions to where the customer lives
increasing competition will ultimately decrease prices
Another form of strategic analysis I will use to assess the competitive environment of my
company is the value chain analysis of Sidhu Transport.
Design: The design of my company is through a website. We will attract customers through
creating a logo and marketing it all throughout social media platforms and the internet.
Production: The production of the company is transportation to those who do not have a car or
drivers license, or just anyone looking for a cheap form of transport.
Logistics: The logistics of the company involve matching customers to drivers who are located
near them through the website. Also, to propose a schedule for the customer to which the driver
can approve and follow and fit in with the daily activities in their own life as well. The website
will need to be created to begin with, and then used to logistically operate the company.
Service: The service provided by Sidhu Transport is a monthly based personal driver who will
be responsible to take the customer to and from work, also can be reached anytime the customer
needs to go out, for example, for grocery shopping, errands, or picking/dropping kids to school.
Sales: A convenient payment method is very important for the success of a business, and we will
use a safe and secured online payment method that customers can pay through our website.
Customers can also keep a card on file for their account, which will be automatically charged
Sidhu 5
every month. In addition, if a customer wants to pre-pay for a longer period of time, we will
offer them discounts.
Lastly, another strategic analysis I will use to analyze my companys competitive
environment is the balanced scorecard.
Strategy: Differentiation, Cost Leadership, and Responsiveness
Financial Performance: It is vital to make sure the costs are full filling the expenses and
customers are not having an issue paying the monthly fees.
Internal Processes: The core competencies are to make sure my company has more strengths
than it has weaknesses.
Development & Knowledge: The keys to quality is to ensure the drivers are educated
individuals. The drivers must be trustworthy and responsible. Also, the website should be
managed well and kept up to date.
Customers: The keys to attracting and retaining customers is good marketing. A colorful logo is
the first thing to appeal to a customers eye. Also, retaining the standards and value of the
company is crucial. As clean as the car is on the first day of picking up a customer, should be as
neat as it looks all throughout the month. The driver should be well dressed and cars should not
contain any odors to keep the customers satisfied.
Individual Project Product Design Project
You are tasked to manage a new product design and roll-out for an actual company. You will be responsible for
assembly of your product design team, planning of your product design project and development of a House of
Quality as a preliminary deliverable. Since this is to be a realistic project, you must research a product idea
(either a tangible good or service) that a company might bring to market (not one that has already been brought to
market by that company).
Start by clearly identifying (~2 Pages)
Your company
Your proposed product
The target customer segment/segment group (identifying where the customer is and who the customer
is: geographics, demographics, psychograchics
a detailed market segmentation analysis).
There are, then, three key elements to this project
Element 1 – Strategic Analysis (~3 Pages)
Develop a SWOT Matrix and assess the competitive environment using at least two tools or methods
learned in this course
Element 2 – Planning for Product Design
Identification of the product design team (~2 Pages) describe who will be assigned to this project
(identify their roles in the company and be sure to describe how your cross functional team will be
effective)
Development of a project plan (a Work Breakdown Structure that is at least 50 lines long and an
accompanying GANTT Chart); this plan will identify key product development tasks and the associated
task durations / dependencies {MS Project, Excel, Other PM Tools; at least 50 thoughtful tasks/lines!)
Project Risk matrix with a minimum of 4 risks and their descriptions (~1 Pages)
Element 3 – Developing a Product Design (~2 Pages; MS Excel or Other Tool)
Identification of Customer Needs/Wants with descriptions (minimum of six)
Development of a House of Quality with all its Facets must clearly distinguish between customer
wants, functional product qualities, and technical requirements
Planning for Your Project Project Management
Product Design Project (Due on 15 October)
Element 2 – Planning for Product Design
Identification of the product design team (~2 Pages) describe who will
be assigned to this project (identify their roles in the company and be
sure to describe how your cross functional team will be effective)
Development of a project plan (a Work Breakdown Structure that is at
least 50 lines long and an accompanying GANTT Chart); this plan will
identify key product development tasks and the associated task durations
/ dependencies (MS Project, Excel, Other PM Tools; at least 50
thoughtful tasks/lines!)
Project Risk matrix with a minimum of 4 risks and their descriptions (~1
Pages)
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