Corporate Entrepreneurship: The Steam Iron example

Thèmes abordés

Corporate Entrepreneurship: The Steam Iron example business concept travel steam iron warranty safety standards strategy canvas

Résumé du document

As creator of a new innovation and more specifically a new steam iron that has different features from the standard industry, the creation of a dedicated company would be judicious. Indeed, the company would be named "Dupont Appliance Ltd", professional manufacturer specializing in providing a range of innovative electrical appliances. This new concept believes in innovative handy products like a compact steam iron, which can be useful to every businessperson while travelling for example.

Extraits

[...] When he will finish ironing, he just has to add water, close the iron, shake it and pour it out until the brown water becomes clear. Finally, the user has to let it dry for the next time Added Values Shape: This travel steam iron is a small compact steam iron that saves space in the luggage. Profitability: You can save money with this compact steam iron. Functionality: This travel steam iron is light and very easy to use. It works wonders on virtually all fabrics. It will not burn the clothes. [...]

[...] So it's important to keep an eye on it. COGS amounts to the characterization of an expense as having been necessary to the production of a product or delivery of a service. In other words, of all the expenses your business will incur in a given month, some of those expenses will go into COGS and some will stay in the category of normal operating expenses. One way to look at it is that COGS expenses are variable according to the amount of sales, whereas operating expenses tend to be fixed at more or less regular amounts. [...]

[...] Colors are an important part of the recent innovations as well. Indeed, initially white, a large palette of colors, ranging from black to yellow, appeared. Finally, another innovation was to add to the initial product some original functions such as TV set or Internet. Like in any other markets, adaptation and localization are critical elements to understand before coming onto this market. In fact lifestyle, national habits but also the evolution of houses tend to change the use of household appliances Trends The big picture is that since 2000, the French household appliances market is in decline. [...]

[...] In addition to that, companies face every year an increase of production costs, mainly due to high prices of oil and raw materials. Moreover to ensure sales, they have to invest a lot of money in advertising and logistics because main pieces of their end products come from everywhere in the world. Although sales decrease a little more each year, almost every French household owns on average 5 household appliances products. During the last decade, there have been many innovations in household appliances because the households' equipment rate is close to 100%. [...]

[...] THE PRODUCT Our product line will include many traveler appliances in the future but our current flag ship product and the first one to be launched is an innovative steam iron for travel. In a second time, we will also manufacture small electric shavers or compact hair-driers Description The Travel Steam Iron Kit (see picture on the right side) will include the travel steam iron, a designed plastic brush for dry cleaning, a salt container, a water container different sized salt spoons, a handy travel carry bag, a dual voltage for worldwide travel 110/220 V and a 5 language user manuals How to Use the Travel Steam Iron The travel steam iron is very easy to use. [...]