and humans to produce the merchandise and typically use an assembly line which

And humans to produce the merchandise and typically

This preview shows page 4 - 6 out of 7 pages.

and humans to produce the merchandise and typically use an assembly line, which enables a product to be put together step by step, moving from one workstation to the next. Manufacturing businesses can choose to sell their products directly to consumers, to other manufacturers, to distributors or to wholesalers. Our business plan is to manufacture the wireless sensors and sell the products directly to automotive companies or car parts distributors. Organizational Structure Our business is a manufacturing-oriented business. We are a group comprising of four members. So, a partnership type organization would be the most viable option for us. Partnerships involve two or more individuals who own the business together. Each partner contributes to the business through money or expertise or connections and shares profits and losses. Similar to sole proprietorships, the business isn't a separate entity, and the owners file the business's taxes when doing their personal taxes. LSM Principles: - 1. Entrepreneurs are Everywhere: - According to Lean Startup Management every Product is Entrepreneurship product and developers and innovators of that particular product are called Entrepreneurs. So, in our Product “VDRIVE: Automotive Safety” we have to work within the set of Rules of Lean Startup principles. First Principle of Lean startup is “ Entrepreneurs are Everywhere” , it means we can apply this principle to any type of Product either Large Scale or Small Scale. Lean Startup principles are supposed to taken as Universal truth. So, in our product
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Vdrive ”, some existing working vehicles are taken for testing on a small scale then we decide whether our core idea to develop a system to provide Automotive safety is constant according to lean startup principles or not. So, anyone who works within the definition of startup called entrepreneur and that technique is called entrepreneurship. So, in our product “ VDRIVE: Automotive Safety ” we have to work within the set of rules of Lean startup management to get optimize product. That means entrepreneurs are everywhere
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  • Spring '18
  • Xue
  • Entrepreneurship, Rahul Kumar, Aman Raj, Prakhar Sharma, Vdrive, Syed Wasim

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