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SBLC6001 Case Study Analysis in Engineering Entrepreneurship: Hidden Nation Assessment Answer


    LEVEL 6 ASSESSMENT SPECIFICATION 
    Programme:BABS
    Module:Entrepreneurship
    Module code:SBLC6001
    Assignment Title:Business Model


    Module Learning Outcomes 
    (from module syllabus)

    1. Analyse how successful entrepreneurs and investors create, find, and differentiate profitable and durable opportunities; in particular, how they tell these opportunities apart from just “other good ideas” 
    2. Evaluate and determine how successful entrepreneurs and investors create and build value for themselves and others.
    3. Identify and determine the necessary financial and non-financial resources available for new ventures; the criteria used to screen and evaluate proposals, their attractiveness and risk, and know how to obtain start-up and early growth capital
    4. Determine the critical tasks to be accomplished, the hurdles to be overcome during start-up and early growth, and what has to happen to ensure success 
    5. Apply the opportunity screening criteria to actual start-up ideas, and subsequently develop a business plan suitable for presentation to investors and industry participants, whilst developing and analysing integrated financial projections for start-up ventures.


    TASK DESCRIPTION – Assignment 2: Individual Case Study Analysis (50%)


    BACKGROUND / INTRODUCTION

    Read the case study given below and attempt the tasks that follow:

    Case Study–  

    1. Hidden Nation: A Case Study in Engineering Entrepreneurship

    Lee Prescott’s journey into entrepreneurship began with his passion for BMX (Bicycle Motor X). He graduated from university with a BSc in Product Design 10 years prior to establishing Hidden Nation. The company’s product range is centred on high quality, specialist BMX frames and components which Lee learned all about during his early career in specialist bike design. Lee knew from personal experience that those who compete at the highest level in the BMX circuit worldwide demand only the best frames designed and manufactured to the highest standards. 

    The Market 

    The market is mature and populated by discerning buyers. The BMX market has waxed and waned since the 1970s, but throughout the racing circuit has remained strong, featuring a number of racing styles and classes whether it be flatland or trail competition. 

    First and foremost Lee is an engineer who has learned and understood exactly what the market wanted and could not get. The realisation awoke the entrepreneur in him but first he had to get the product right, both in terms of design and performance and brand values. The customers not only wanted high performance but also wanted to be associated with a distinctive and unique niche brand where the best buy only the best. Furthermore in such an ‘elitist’ market customers become sales representatives because they are proud to be associated with the brand. 

    The Design and Engineering Issues 

    Customers in this niche specify their own bike design in great detail encompassing every major and minor component and assembly. The bike must be durable, safe and fast. Therefore every engineering decision Lee made was market driven from the outset in order to meet the performance objectives. 

    Heat treated, (853) lightweight, hardened tubing was selected and supplied by Reynolds Tubes in the UK and a partnership established with a Czech company in order to achieve the required manufacturing standards within a marketable cost/price structure. Equally as important as the frame were the stems and posts that link the frame to the rest of the bike. These were designed to specific criteria too, with the avoidance of thread stripping, minimal slippage and safety as priorities. The number of components was reduced to minimise possibilities of failure and avoid unnecessary production costs. 

    Marketing Strategy 

    Now the engineer became even more of an entrepreneur. Having seen the market opportunity the engineer had to get the product to market. Until this moment in his career Lee had worked in large organisations alongside sales and marketing colleagues but now it was up to him to take the product to market. 

    Engineering Subject Centre 11 Four Mini Case Studies in Entrepreneurship 

    Firstly the brand had to be considered and the first steps taken to establish its position in the marketplace. Careful research showed that a connection with an ‘alternative’ style and off beat innovative solutions offered the right values. The name ‘Hidden Nation’ implies difference and mystery, but for the frame product something more was needed to do it justice in the marketplace. The name ‘Akira’ was chosen. Akira Kurosawa was a renowned Japanese filmmaker whose work features Samurai traditions. Akira produced his storyboards as fullscale paintings. These paintings are works of art in themselves and given Japanese sword making traditions the inherent precision was transferred to Hidden Nation’s brand values. 

    The exclusivity of the brand was carried through to the sales and marketing strategy. To date ten dealers have been appointed in the UK, one in Ireland and recently one in Australia with negotiations underway in Germany. The customers have become sales people because they value the exclusive association. The website is an information site only with sales activity being undertaken exclusively by the dealers, supported by trade advertising and targeted editorial coverage created by a public relations campaign. Word of mouth endorsements have also become a significant route to new sales. In the second year of trading sales were double that of Year One and growth continues for what is still a one man business. 

    Finance 

    All of the above had to be funded. A Business Plan was created and shown to a variety of traditional funding sources; banks, venture capitalists, business angels and business advisors from several institutions. Offers of funding did not arrive because Lee was too young, too optimistic, wrong about the product, wrong about the market. Lee got used to rejection but carried on regardless. He backed his own belief by remortgaging his house and investing £30,000 of his own money. He remains in full time employment as Head of Design for a queue management system company, working on Hidden Nation in the evenings and reinvests all the profits from trading activity. 

    A Supportive University 

    As a provider of Lee’s early Product Design education, his university was involved at the start his career. Much later, when Lee conceived his idea and grew the desire to run his own business, he was able to join the university’s Vision Works unit which supported embryonic start up businesses. Vision Works provided office accommodation, telecommunications and computer facilities and, most importantly for Lee, a coaching and mentoring programme. He received the advice and encouragement essential to enabling him to complete the Business Plan and develop the confidence he needed to make his personal investment. 

    As Lee says “Vision Works gave me someone to talk to at a time when I had to become an entrepreneur as well as a design engineer”. 

    Adapted from a case written by: Liz Read, Development Manager for Enterprise and Entrepreneurship, University of Coventry

    TASKS

    Critically evaluate the business idea and the strategies adopted by Hidden Nation  (U.K.) (500 words)

    • Analyse the opportunities that Hidden Nation capitalised on. (500 words)
    • Comment on the risks that the business is exposed to and provide appropriate mitigation strategies. (600 words)
    • Evaluate the evidence that suggests whether or not the business will last into the future. (500 words)
    • Make concrete recommendations to assist with the future progress of Hidden Nation (400 words)
    LENGTH REQUIRED

    2500 words +/- 10%, any deviation from this will be penalised.

    FORMATTING AND LAYOUT

    Please note the following when completing your written assignment:

    1. Writing: Written in English in an appropriate business/academic style
    2. Focus: Focus only on the tasks set in the assignment.
    3. Length: 2500 words
    4. Formatting: Typed on A4 paper in Times New Roman or Arial font 12 with at least 2.5 centimetre space at each edge, double spaced and pages numbered.
    5. Document format: Report
    6. Ensure a clear title, course, Module code, and name or ID number is on a cover sheet and a bibliography using Harvard referencing throughout is also provided.
    7. Research: Research should use reliable and relevant sources of information e.g. academic books and journals that have been peer reviewed. The research should be extensive. 

    The use of a range of information sources is expected – academic books, peer reviewed journal articles, professional articles, press releases and newspaper articles, reliable statistics, company annual reports and other company information. All references should be in the Harvard style.

    GUIDANCE FOR Students IN THE COMPLETION OF TASKS

    NOTE: The guidance offered below is linked to the five generic assessment criteria overleaf.

    Engagement with Literature Skills

    Your work must be informed and supported by scholarly material that is relevant to and focused on the task(s) set; you should make use of scholarly reviews and primary sources, where appropriate (for example, refereed research articles and/or original materials appropriate to the discipline).    You should provide evidence that you have accessed a wide range of sources, which may be academic, governmental and industrial; these sources may include academic journal articles, textbooks, current news articles, organisational documents, and websites.  You should consider the credibility of your sources; academic journals are normally highly credible sources while websites require careful consideration/selection and should be used sparingly.   Any sources you use should be current and up-to-date, mostly published within the last five years or so, though seminal/important works in the field may be older.  You must provide evidence of your research/own reading throughout your work, using a suitable referencing system, including in-text citations in the main body of your work and a reference list at the end of your work. 

    Knowledge and Understanding Skills

    At level 6, you should be able to demonstrate coherent and detailed knowledge and a systematic understanding of the subject area, at least some of which is informed by the latest research and/or advanced scholarship within the discipline. You should be aware of the uncertainty, ambiguity and limits of knowledge. Your work must demonstrate the growing extent of your knowledge and systematic understanding of concepts and underlying principles associated with the subject area.  Knowledge relates to the facts, information and skills you have acquired through your learning.  You demonstrate your understanding by interpreting the meaning of the facts and information (knowledge). This means that you need to select and include in your work the concepts, techniques, models, theories, etc. appropriate to the task(s) set.  You should be able to explain the theories, concepts, etc. meaningfully to show your understanding.  Your mark/grade will also depend upon the extent to which you demonstrate your knowledge and understanding; ideally each should be complete and detailed, with comprehensive coverage.

    Cognitive and Intellectual Skills

    You should be able to: critically evaluate evidence, arguments, assumptions, abstract concepts and data some of which are at the forefront of a discipline(and that may be incomplete) to devise and sustain arguments, to make judgements and/or solve problems; describe and comment upon particular aspects of current research, or equivalent advanced scholarship, in the discipline Your work must contain evidence of logical, analytical thinking, evaluation and synthesis. For example, to examine and break information down into parts, make inferences, compile, compare and contrast information.  This means not just describing what! But also justifying: Why? How? When? Who? Where? At what cost? At all times, you must provide justification for your arguments and judgements.  Evidence that you have reflected upon the ideas of others within the subject area is crucial to you providing a reasoned and informed debate within your work.  Furthermore, you should provide evidence that you are able to make sound judgements and convincing arguments using data and concepts.  Sound, valid conclusions are necessary and must be derived from the content of your work.   Where relevant, alternative solutions and recommendations may be proposed.

    Guidance specific to this assessment: Please see page 9 and 10

    Practical Skills

    At level 6, you should be able to apply the methods and techniques that you have learned to review, consolidate, extend andapply your knowledge and understanding, and to initiate and carry out projects. You will deploy accurately established techniques of analysis and enquiry relevant to the discipline, and apply them in complex and unpredictable contexts, to devise and sustain arguments and/or to solve problems. You should be able to frame appropriate questions to achieve a solution - or identify a range of solutions. You should be able to demonstrate how the subject-related concepts and ideas relate to real world situations and/or a particular context.  How do they work in practice?  You will deploy models, methods, techniques, and/or theories, in that context or circumstances, to assess current situations, perhaps to formulate plans or solutions to solve problems, or to create artefacts, some of which may be innovative and creative.  This is likely to involve, for instance, the use of real world artefacts, examples and cases, the application of a model within an organisation and/or benchmarking one theory or organisation against others based on stated criteria.  You should show awareness of the limitations of concepts and theories when applied in particular contexts.

    Transferable Skills for Life and Professional Practice 

    Your work must provide evidence of the qualities and transferable skills necessary for graduate-level employment requiring the exercise of initiative and personal responsibility and decision-making in complex and unpredictable circumstances.  This includes demonstrating: the learning ability for professional development to advance existing skills and acquire new competences of a professional nature that will enable you to assume significant responsibility within organisations; that you can initiate and complete tasks and procedures, whether individually and/or collaboratively; that you can use appropriate media to effectively communicate information, arguments and analysis in a variety of forms to specialist and non-specialist audiences; fluency of expression; clarity and effectiveness in presentation and organisation. Work should be coherent and well-structured in presentation and organisation.

    Answer

    Hidden Nation: A Case Study Analysis in Engineering Entrepreneurship

    Critical Evaluation of Business Idea and Strategies of Hidden Nation

    In contrast to the Hidden Nation business scenario, designer Lee Prescott upholds distinct passion, determination, ability to innovative and exciting entrepreneurship spirit to implement creativity and imagination into consideration to commercialize fresh perspectives in the globalized Bicycle Motor X. The availability of high quality, specialist BMX frames, design-built features and marketable price structure has fueled the company to incorporate systematic entrepreneurship to maximize market opportunities and increase brand value and recognition. 

    Business Idea

    The fundamental business idea of Hidden Nation is to design and produce best BMX frames and bike affiliates to attract a higher range of professional cyclists and wide range of customers with highest standards, customized product design and relationship-driven approaches. Creative leadership qualities, Human-centred Design thinking and affordable price structure has influenced to produce cost-effective and eco-friendly products to maximize organizational capabilities and resources. The company considered cutting-edge technologies, globally distributed value chain, systematic corporate governance policies and data-driven R&D pipelines to amplify collective efforts and bottom-line activities (Martins et al. 2019).  The prime objective is to provide durable, safe and fast BMX while considering people-centric campaigns and promotional activities. Optimist entrepreneurship attributes, sustainability-conscious policies, partnership acquisition credentials, green development programs, innovative and modular designs have assisted to enhance competencies, product leadership and brand recognition. As the BMX market is maturing and thriving customer demands, availability of expertise, design thinking attributes, great entrepreneurship skills and Industry-specific knowledge have justified the newly renovated business idea as a proactive provision. Hidden Nation extensively focused on high-end design specifications, component quality, modularity systems and performance-driven business policies, the idea can be significant to gain enormous reputation and revenue streams. University involvements, brainstorming sessions at Vision Works unit and the scope of commercial venture development programs can facilitate the building of physical assets, corporate relations and streamlined operations (Litman, 2016).  However, lack of resources including the secure source of funds, GVCs, historical background and minimal corporate experience can hinder seamless transformation towards productivity and profitability. 

    Business Strategies

    In contrast to Hidden Nation, business strategy refers to a systematic empirical framework that encompasses a combination of fact-driven decisions, actions and operational excellence that assist to accomplish predetermined corporate goals and secure a competitive position within the BMX marketplace. Hidden Nation as a newly formed company has implemented a multilayer business strategy that includes corporate level, business portfolio and functional capabilities to execute the strategies while articulating core competencies, values and ethos. As Hidden Nation intended to create a standardized dialogue and specific market niche through handful marketing, product differentiation and cost leadership strategies, the company can have a significant reputation for its extensive business portfolio, design specifications and value-added solutions (Vanwersch et al. 2016).  For proficiency in product development, disruptive innovations, cutting-edge technologies, the voice of customers, engineering principles including aerodynamics, balancing and safety priorities are implemented to uplift product diversification strategy. 

    For marketing purposes, Hidden Nation focuses on relationship-driven approaches and people-oriented campaigns such as engagement of cyclists, advertisement in races, real-time content display and attractive brand names to improve organizational capabilities and market recognition. Traditional influences, exclusive association with PR and distributed dealership networks can improve sales and marketing capabilities. However, inadequate experience, increasing complexity, inflation rates and fluctuating economy have been hindering funding sources ( Aithal, 2016). However, streamlined supply chain, a collaboration between teams and design thinking capabilities of leaders have amplified organizational capabilities and potentiality to ensure productivity and profitability. 

    Opportunity Analysis of Hidden Nation 

    The current marketplace has become volatile and complex due to intensified competition and availability of products. However, changing consumer behaviours, sustainability-conscious policies, emerging trends like green development programs, energy-efficient bicycles and intensified popularity of extreme sports have created ample opportunities for Hidden Nation to improvise innovative brainstorming ideas into product design for commercialisation opportunities ( Mummah et al. 2016). As business development initiatives are highly dependent on macro-environmental and micro-environmental factors including regional economic, GVCs, demographics, political and social influences and technological advancements, Hidden Nation has extensively conducted thorough market research to identify potential opportunities to leverage strengths and areas of expertise. 

    Leadership Qualities 

    Lee Prescott is a significant asset for Hidden Nation as his contribution towards business development has assured competitiveness within the marketplace due to his incomparable entrepreneurship skills, engineering knowledge, personal traits and authorization functionalities. As a newly formed commercial venture, Hidden Nation has adequately focused on his authoritative leadership style to set expectations, creating a comprehensive roadmap and deployment of proactive provisions. His Human-centred Design thinking capabilities, time management, efficiency and communication skills have ensured adequate growth and accountability ( Rastkhiz et al. 2019). As Hidden Nation experienced significant difficulties, rejections and slow progress to ensure seamless fund sources, various distinct entrepreneurship skills including adequate resilience, concise communication, networking facilities and passion for different fields of business have created comprehensive competencies to ensure productive growth. 

    Geographical Location 

    Geographical location, demographics and cultural attributes of society play a fundamental role to thrive globally while considering taxation policies, regulatory compliances and international trade conventions. As Hidden Nation is situated in the UK, availability of resources, supportive government compensation packages, subsidiary schemes and relaxation in customs clearance have influenced the company to execute BMX development programs. Availability of transportation services, streamlined supply chain across the European Union and diversified workforce have assisted to gain cost and product leadership. Market-driven product development strategies, transformational changes in marketing strategies and collaborative sharing capabilities and proactive endorsement programs also confined to maximize organizational efforts and affordable prices. 

    Supportive Environment 

    Hidden Nation has gained enormous flexibility and credibility as the university has provided extensive knowledge and financial support to streamline start-ups while evaluating commercialization perspectives and techno-centric visionaries of the company. As Vision Works has supported embryonic development programs by providing office accommodations, telecommunication, computer-aided engineering facilities and ICT based training facilities, the company extensively improvised its exclusive business ideas into real products while following advice and encouragement ( Baručić and Umihanić, 2016). As Lee Prescott developed enormous creativity and innovation in BMX designs, it allowed HN to embrace modular designs, lightweight aluminium alloys and safety measures to improve product quality and aesthetic values by incorporating integrated engineering principles and standardized quality assurance. 

    Marketing and Advertising Programs 

    HN has become an effective alternative for cyclists and wide-range of consumers to prefer quality as the brand extensively on design-built features, performance and brand value. As the newly built BMX frames and components are extremely important to create a distinctive and unique market niche, HN widely incorporated performance objectives, streamlined supplier relations and affordable manufacturing practices to mitigate business needs. Market customers in the BMX industry become sales representatives due to inseparable association with the brand which assisted HN to execute people-oriented campaigns by escorting and featuring programs and races. As a prominent marketing and sales strategy, HN has developed a distributed dealership network, tradition-influenced nomenclature style and public relations campaign to diversify sales routes ( Lokshina and Lanting, 2019). Dedicated corporate website, affordable social media marketing and relationship-driven advertising strategies have assisted to minimize occupational threats and over budget constraints. 

    Risk Management and Mitigation Strategies for Hidden Nation 

    In the era of globalisation and cross-border interactions, start-up businesses like HN are facing comprehensive challenges to improve organizational performance and time-efficient aspects to mitigate rewards of customers, revenue streams, sustainability and satisfaction attributes. Various distinct risks including unavailability of resources, poorly maintained corporate governance, inaccuracy in strategic decisions, operational disruptions and financial implications can hinder business development ( Leisen et al. 2019). HN must implement fact-driven perceptions, assumptions and entrepreneurship skills and employ careful mitigation strategies to mitigate such uncertainties. 

    Financial Risks

    The biggest risk that HN is facing is financial as the entrepreneur has invested life savings to thrive in new business. As international business requires seamless and secure fund sources and high initial cost, cashflow consistency is the major concern for HN during the initial process as it can struggle to maintain operations, make a large upfront investment, pay employees and invest in market penetration and growth due to lack of adequate funds. Moreover, fluctuating global economy, inflation rates and recessions have affected the company's functionalities (Hamdi et al. 2018).  

    HN can provide market share, gain significant loans from financial institutions and seek government compensation packages to run business ventures. Negotiation through favourable purchasing terms, assessment-based supplier selection, lean manufacturing practices and third-party agreements can be incorporated to mitigate financial requirements. 

    Strategic Risks

    Strategic risks are common for new commercial ventures as lack of ideal corporate governance system, organizational infrastructure, inadequacy in targeted audience selection, poorly defined marketing and sales strategies and shift in the external environment can create vulnerabilities to make appropriate decisions. Due to minimum technological advancements and availability of resources, the company can struggle to endorse celebrities, brainstorm new opportunities and conduct thorough market research.

    To mitigate such risks, incorporation of appropriate research and planning based on industry-specific models including SWOT, PESTLE and Porter's five forces can be significant to evaluate macro-environmental factors, upcoming industry trends, competitors, and prior experience (Herbes et al. 2017).  Development of a diversified workforce with multicultural and multi-generational attributes can improve organizational capabilities to redeem accuracy and integrity. 

    Reputation Risks

    Reputation and brand recognition are integral properties of modernised commercial ventures as it allows developing a concurrent consumer base while encouraging feedback loops, product differentiation and audience controlling systems. As HE intended to improve organizational reputation and brand value through product quality, customised BMX bikes and lucrative price structure, the company can experience significant difficulties to compete against potential competitors due to existing products, cost-effectivity and product leadership strategies. 

    To ensure productive growths, development of feedback gathering principles, streamlined customer-focused services, extensive application of digital platforms and target-promotion marketing strategies can be incorporated to control reputational attributes while considering cost-effectiveness and value-added credentials. 

    Liability Risks

    As HN has introduced new opportunities into consideration, the company is highly exposed to liability risks due to lack of adequate resources and information. Various distinct activities including property damage, supply chain disruptions, workplace injuries, contractual obligations and inefficiency in quality standard policies can lead to costly lawsuits and compensation packages. As taxation policies, regulatory compliances and custom duties are changing constantly, third-party consultancy services can be confined to mitigate laws and legal precedences. HN needs to have asset insurance coverage, relationship-driven supplier management and ethical corporate governance to prevent catastrophic consequences due to mismanagement and misinformation ( Aithal and Aithal, 2016).

    Business Interruption and Security Risks

    Increasing vulnerability in climate conditions, natural disasters, supply chain disruptions due to global pandemic like COVID 19, political uncertainties and instrument failures are interrupting business operations. These challenges can HN's inventory and lean business models, and timely delivery and distribution channels can cause significant loss in terms of financial as well as reputational damages.

    Development of contingency plans, regional warehouse and in-house manufacturing practices can mitigate such a crisis. Development of cybersecurity programs, installation of cloud-based storage, centralized information systems can be effective alternatives to cope with cybercrimes, data breaches and protection of HR and IP. 

    Business Continuity Plan and Futuristic Development

    Since the industrial revolution and technological advancements in engineering science has influenced the entrepreneurial spirit to develop brainstorming ideas and enthusiasm to establish a concise company to produce customized and cost-effective solutions. However, the success of newly formed businesses lies on multiple macro-environmental and micro-environmental factors that allows developing adequate infrastructure, business network and distribution channels to thrive globally while mitigating regulatory affairs, sustainability policies and government guidelines. Various distinct business aspects such as ethics-backed leadership skills, corporate governance policies, effective employee engagement policies and operational strategies are very much necessary to bring concurrent changes and economic prosperity within the business ( Fowler, 2016). As business development initiatives are also dependable on customer services, satisfaction and sophistication attributes, product positioning and cost-effectivity credentials, so far HN has maintained significant entrepreneurship roles to improve organizational competencies through the systematic allocation of resources, HRM practices and sustainable development programs.  

    To gain competitive advantages over potential competitors, various quality assurance factors such as safety and functional requirements of BMX bikes, use of appropriate alloys, medullary design specifications and customised services are implemented by HN to attract distinct segments of consumers. People-oriented campaigns, social media marketing and open-door communication channels have facilitated HN to cut down excessive costs and timelines to remain competitive  ( Baručić and Umihanić, 2016). As potential competitors are introducing value-added services and products, integrated dealership networks, streamlined GVC and precise marketing strategies can amplify collective efforts to thrive revenue gains and brand value. The collaboration between Vision Works unit and Hidden Nation can be beneficial for HN to improve quality and aesthetic values of the product by incorporating a holistic R&D pipeline and identification of best industry practices. As VW is determined to provide utmost support through systematic allocation of finance and management advice, HN has got ample opportunity to exaggerate techno-centric visionaries and production procedures to safeguard business development initiatives by building adequate infrastructure, communication channels and mentoring programs. 

    As sustainability-consciousness among consumers and green transportation services are becoming more prominent nowadays, HN upholds biggest opportunities to thrive as a potential candidate within the BMX industry due to availability of competencies, high-value products and entrepreneurship skills. As Lee Prescott is determined to nurture creativity and imagination and capable of communicating new ideas and enthusiasm in the betterment of business portfolio and administration, authoritative leadership qualities can assist to incorporate a continuous improvement plan to collectively secure futuristic development programs ( Mummah et al. 2016). Furthermore, suitable geographical location, availability of multilingual and multicultural group-learning programs, streamlined supply chain across the European Union and adequate business community are assisting HN to build effective relations with suppliers and subcontractors to receive adequate opportunities and funds to mitigate occupational threats. Various distinct capabilities such as target-audience MNC marketing strategies, quality-adjusted business models and cloud-based services are influencing HN to execute premeditated planning into manufacturing practices through lean manufacturing principles. 

    Recommendations for Hidden Nation 

    Current fast-changing business environment and MNC engagements have created comprehensive limitations for small enterprises to emphasize innovative entrepreneurship spirit. However, incorporation of fact-driven infrastructure development programs, technological advancements and strategic planning can assist HN to secure productivity and profitability. This systematic empirical framework has provided extensive recommendations for HN to improve decisions in various positions which are enlisted below. 

    Business Ideas

    HN needs to nurture creativity and imagination to produce customized and cutting-edge technologies to enhance product value and recognition.  The company must engage adequate resources, seek expertise solutions and techno-centric visionaries while effectively articulating the company's vision, mission and aesthetic values. Adequate communication between subordinates and stakeholders can help to produce brainstorming ideas to gain competitive advantages. Effective business community development initiatives through supplier and vendor management systems, nationwide distributorship and dealership networks and streamlined GVCs can be significant to reduce complexity and overhead costs. 

    Business plans

    HN must develop certain prototypes with multistage design specifications and high-tech products to attract distinct segments of consumers. Event-based campaigns, detailed analysis of previous experiences and improved forecasting mechanisms are necessary to be in place to eliminate legal obligations. Creation of concurrent roadmap, vibrant workplace ambience and conductive organizational culture can be significant for HN to improve creativity and innovation. 

    Finance

    To mitigate financial implications and sale-profit ratio, the company must focus on secure financial sources, cash flow skills, and improve cost structure through in-house design and manufacturing principles to gain competitive advantages. Various distinct analysis of financial services including profit-loss projections, return on investment, total income-expenses rate and net income -total investment ratios are necessary to consider. 

    Productivity

    To improve organizational performance and productivity, development of adequate infrastructure, incorporation of various techniques including automation, artificial intelligence, IoT, robotics and business analytics can assist to improve core competencies. Lean manufacturing principles, fact-driven inventory management practices and outsourcing services can be followed to reduce costs and timelines. 

    Business process

    Adequate optimization of techno-centric visionaries and technological advancements, systematic allocation of available resources and integrated information systems are significant to improve operational excellence and disruptive innovations. 4P  and social media marketing strategies alongside traditional advertising practices including events, campaigns and promotional activities can be followed to improve recognition, brand value and loyalty programs. 

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