Entrepreneurship and Innovation - Business Concept

MGB223 – Entrepreneurship and Innovation

SEMESTER 1 – 2016

Assignment 1 – Business Concept

Word Count: 1,200 words

The Business Opportunity

The Problem

Information regarding the arrival and departure times of public transport services is not readily available for commuters. Events resulting in delays for bus, train and ferry services are common occurrences yet commuters do not have access to the exact location of their desired service. These delays regularly result in disgruntled customers, which can often be resolved with an increase in transparency by the service providers.

The Solution

Harnessing existing Global Positioning System (GPS) technology, the ability to geographically track the location of a broadcasting device has become readily available for developers. Supplying drivers of trains, busses and ferries with a GPS broadcasting device will allow the ability track the location of the public transport service in real-time. This information can be captured and accessed by commuters through a mobile application based system. The journey of their service can be followed providing time-based warnings for the arrival and departure. This application harnesses existing technology whilst increasing the value of an already existing service. As this service is catering to an existing market of public transport users, the potential customers are all commuters with access to a smartphone. This application will be built specifically for each public transport system and will be licensed for use.

Business Opportunity Assessment

In order to assess the feasibility of the business concept, a feasibility analysis must be completed in order to show the product, market and economic feasibility of this application.

Product Feasibility

Is it novel? – Yes, there are no clear current patents for obvious keywords found through the Australian Patent Office.

Is it patentable? – It is difficult to determine, though Dominos Pizza Enterprises...