Electronic Commerce Group Report.pdf

This is a common business model due to offering customers the benefits of fast online transactions and traditional face-to-faceservices... Introduction of business plan Briefly about Sol

OFFICE FOR INTERNATIONAL STUDY PROGRAMS

Name: Bui Ngoc Thien Huong Bui Ngoc Thien Huong 1952278 Email: huong.bui1509@hcmut.edu.vn Lai Bao Ngoc 1952873 Phone number: 093 7893 366 Nguyen Hanh Doan Nhu 1952908

Ho Chi Minh City, November 8 , 2021th

Introduction 2

1 Introduction of e-commerce 2

a) Definition 2

b) Classification of e-commerce organizations 2

c) Advantages and Disadvantages 2

2 Introduction of business plan 3

A Plan to launch a start-up business on an e-commerce platform 6

1 Details of Canvas model 6

a) Value proposition 6

b) Customer segment 7

c) Channels 7

d) Customer relationship 9

e) Key resources 9

f) Key activities 10

g) Key partners 12

h) Cost structure 13

i) Revenue stream 14

2 Short term and long term goals 14

a) Short term goal 14

b) Long term goal 15

B Evaluate of a start-up business 17

1 Consider cash flow of company 17

a) Outflow of company 17

b) Inflow of company 17

c) Conclusion 17

d) Evaluation 18

2 SWOT Analysis 18

a) Strengths 18

b) Weaknesses 18

c) Opportunities 19

d) Threats 19

Conclusion 20

References 21

AcknowledgementThis project is the result of the collaboration of several minds over the previous fewmonths This has been a unique initiative that has come to completion thanks to the efforts of aselect group of individuals Many individuals eagerly contributed to this effort, which cametogether in the final weeks before the deadline I'd like to express my gratitude to the followingindividuals for their ongoing assistance and invaluable advice:

First and foremost, we would like to express our gratitude to Bach Khoa University forproviding us with the chance to develop a project that has allowed us to obtain informationoutside of our studies and will undoubtedly be beneficial in the future

I would like to place on record my deep sense of gratitude to my project mentor Prof.Trung, who has tirelessly led our team and offered recommendations to assist us enhance ourresearch to its full potential

Last but not least, thank you to all team members for contributing their important thoughtsand effort to make this project a success

On the other hand, e-commerce often refers to the online sales of physical products or justdescribes a kind of transaction through the internet

b) Classification of e-commerce organizations

 Brick-and-mortar organization: a traditional street-side business that provides products orservices to customers face-to-face in an office or store that they own or rent The typicalexamples for brick-and-mortar are the local grocery store or a corner bank

 Virtual organization: a collaboration of geographically dispersed groups, organizationalunits, or an entire organization that connects and generates sales by electronic linking Itmeans that they do not have a real shop/office and just perform the whole process online

 Click-and mortar organization: a type of business that has both online and offlineactivities (including a physical store and a website) This is a common business model due

to offering customers the benefits of fast online transactions and traditional face-to-faceservices

c) Advantages and Disadvantages

 Ability to handle multiple purchases,

connecting far and wide

 Automation minimizes human error

 Affordable and effective marketing

 Eliminating some costs (store

maintenance, operations)

 No geographical or time limits

 Personalize the shopping experience

 Detailed product information

 Compulsory registration

 Complex taxation guidelines

 Some items: hard to purchaseonline

 Long delivery period

 Uncertainty about product quality

 Technical difficulties

 Security issues

 Higher cost of portals

 Saving time for customer

2 Introduction of business plan

Briefly about Sol

Meaning of “Sol”

My group is planning to start a business with the idea of a model that both sells onlinelanguage courses and e-books Sol- is the name of our business The meaning of the word “Sol”originates from our group's extremely simple but profound thoughts and desires “Sol” stands forsimply online which means through the online learning platform, everything becomes simplerthan usual In addition, “Sol' can also be understood as an abbreviation of solution, which meansthat our business will bring the best solutions to solve learners' problems

In terms of online language courses, our business intends to focus on languages such asVietnamese, English, Korean and Chinese as the core Besides, we will expand to languages such

as Japanese, French, German, etc Next is about e-books, according to the plan, we will sell allkinds of books for learning languages

Reason for our establishment

There are many reasons why my team founded Sol and opted for an entirely online businessmodel First of all, we must talk about the complicated developments of the Covid-19 epidemic inVietnam and around the world To prevent the risk of spreading the disease, it is extremelyimportant to follow and abide by the absolute rules of not leaving the house when not necessary.Therefore, our online learning model is the leading solution for language learners during theepidemic situation If we ignore the epidemic factor, our online teaching model brings students alot of benefits such as reducing cost, flexibility, less impact on the environment, quick delivery ofboth lessons and e-book, breaking down geographic barriers Beside that, information technology

is developing strongly, leading to an online learning/reading platform that will attract people andbring certain value Because of seeing the benefits and values that we can bring to learners, Solwas formed

Vision & Mission

 Vision:

 Internationalization of society

Internationalization of society is a process whereby people of different cultures and languagescome together to live in one society There are many reasons why the internationalization ofsociety is happening One reason is that there are so many more opportunities now than therewere before There are also more educational opportunities for people, which means that they can

go abroad to study or work or they can study at home but through an international system.There are some barriers to this becoming a reality though, such as inequality and prejudice,which will need to be overcome if we want the process of internationalization to continue on itscurrent trajectory

 Higher education and the business world

Language is one of the most important parts in all aspects of our lives, whether in highereducation or in the business world Without it, people cannot communicate with others It isbecause of this that many schools and universities are now teaching students in more than onelanguage, which can improve their ability to communicate with people from other cultures.Many countries provide free public education for children aged 6-15 years old That meansthat when they go to school, they are learning not only the language used by their country butalso other languages to better communicate with others from different cultures This will be veryuseful for when they grow up and are able to work in different parts of the world

 Developments in the field

Developments in the field of teaching languages have been made to help people learnlanguages faster The modern world is a global village and being multilingual is becoming moreand more important In the past, there have been various developments that have been made tohelp people learn foreign languages faster One of them is using app-based learning, which offers

a new way to learn a language on your own

 Mission:

The Sol Centre wants people to be full mates in transnational cooperation andcommunication Language proficiency and intercultural perceptivity are, in our view, abecedarianpreconditions for this We articulate this in our brand pledge express yourself – understand theearth The Sol Centre enables you:

 Knowledge in different languages

 Completed yourself

 Improve your skills

We put all our expertise at the disposal of our clients to enable them to play a leading role atevery phase of international cooperation, and at every possible level of language proficiency

Introduction to the canvas model

Business Model Canvas is one of the terms that every business person will also think of in theprocess of building a business, it is also one of the formulas to help us analyze and create asimple business model

Business Model Canvas (BMC) is a state-of-the-art sales modeling tool designed byAlexander Osterwalder and Yves Pigneur In the book Business Model Generation, the two mendescribed this as a business model consisting of 9 components corresponding to 9 pillars andorganizations of an enterprise Its very goal is to assist the company in consolidating its salesoperations by illustrating the standard shift functions

By simplifying the thick sales strategy in a way that is direct and easy to grasp, the abovemodel has enjoyed great application in the sales space because of the benefits and efficiency withwhich it is returned Currently, many companies in Vietnam have applied the Canvas sales model

to analyze the company's situation and find the optimal profit-making method

The 9 pillars of the Canvas business model represent the 4 main aspects of an entity (customers,results, basic quality and key competencies), including:

 Customer Segments

 Value Propositions

 Channels

 CustomerRelationships

A Plan to launch a start-up business on an e-commerce platform

1 Details of Canvas model

a) Value proposition

Sol provides customers with two main products/services which are online courses andelectronic books We offer foreign languages classes (English, Chinese, Japanese, French, etc.)and various books to support the learners studying those languages Therefore, there are some ofour value propositions

 Online course

 Self-learning space:

Customers can choose their own study time to suit themselves The classes with 6-8 studentsoften take place in the evening when most people have free time If the learner wants to studyanother schedule, he can register for the 1:1 class (1 student and 1 teacher)

 Save money:

With an online organization, we can reduce a large number of costs (rent, maintenance,facilities, etc.) Therefore, the tuition fees of online courses will be much lower compared totraditional ones

 Break down geographic barriers:

Instead of going to the center, the learners can study at home, which helps to reduce travelcosts, save time, and no longer worry about studying too far from home

E-books not only help save energy and reduce pollution problems but also help preserve trees

by reducing tree consumption to about 9.6 million trees per year

 Augmented reality experience:

Besides reading books, you can also use special features which are sound and visual effects

As a result, readers will have a more authentic and interesting experience

c) Channels

Our business will run some primary channels to communicate our value propositions tocustomer segments

 Website:

Website is the most important platform which provides detailed information about ourbusiness and our products/services There are 6 steps for building a website:

1 Select a web host: select host or vendor

2 Register a domain name: purchase annually the domain name which connects with the IPaddress We decide to choose the domain name: Sol.com

3 Create and manage content: What will be on the site? Who contributes? Catalog? Ournavigation bar will be shown below

4 Design the website: We unify to use 2 main colors (black and white) to express our simpleand irreducible features in online learning At the same time, Munich is the font we use,which symbolizes modern characteristics because we utilize technology in teaching andlearning

5 Construct the website and test: The technician will test the functions of the sites, whether

it is smooth or exists any error

6 Market and promote the website: We will pay an amount of money for a sponsor that putour website on the top and customers can find us easily

There are several parts of content including in Sol’s website:

 About us: In this part, we have a brief introduction about our establishment,mission/vision, value system, leadership, the meaning of our brand name, contactinformation (phone call, email, fanpage address, etc.)

 E-book: The website will show a variety of books in each language In each e-book, wegive information about the title, author, published date, price, and brief introduction of itscontent

 Online course: We upload information of the courses (class model, schedule, level,opening day, teacher, tuition fee, etc.)

 Support: We will have 2 main parts which are FAQs (Frequently Asked Questions) andOnline Manuals We use automation to answer some common questions and theconsultant department will answer other personal wonders

 Promotion: Sol will offer some deals for customers (bundle, groupbuy, discount, etc.)

 Hot news: An admin of the website will post the content by topic regularly (useful tips forlearners, why we need to study language, etc)

 Fanpage:

Besides the website, we have a fanpage on Facebook for running marketing campaigns Wesee that fanpage activities are vital keys to promote the new brand to customers Sol will design aseries of content and post regularly on our fanpage Moreover, we will purchase for the sponsorwhich helps our posts display on customers’ newsfeeds There are several contents that we thinkabout if promoting the new brand:

 Introduction series (our business, professor team, teaching methods, etc.)

 Minigame series

 Tips on learning series

 Power of languages series

 Learning application

If customers register for our courses, we will provide them the account and password to log

in to the app In our app, the learners can follow their studying progress, homework requirement,exam date, exam result, related notifications, supporting services, etc During the course, Sol willgive them a survey to access satisfaction levels about Sol’s product/service Besides, we also askfor feedback/comments to realize our shortcomings and improve in the future

d) Customer relationship

Sol Center can create sales through some channels as the following:

 Website: We design with attractive visuals, ease of use, low error frequency and severity,

fulfillment of information for the website which bring customer subjective satisfaction

 Fanpage: The consultant department also put effort to reply to comments and inboxes of

the customers

 Phone call: If the customers want to be consulted quickly, they can call the hotline or

leave their phone number and our team will support them as soon as possible

 After-sale services: If customers have problems/witnesses related to our products and

services, they can contact us through our app/email Besides, Sol also sends a survey tocollect feedback from the customers

 Promotion: Sol Center offers a lot of buying incentives:

 Bundle: Customers who pay for the package will receive an all-in price

 Groupbuy: If you register with your group of friends (5 learners), your group will getcheaper fees