BUSINESS move into greatest one, 6000 square

BUSINESS CASE ON CONVOY
BY
SIMARJEET KAUR (S300494)
MASTERS OF ENGINEERING (ELECTRICAL)
CHARLES DARWIN UNIVERSITY
Table of contents
Introduction…………………..………………………………….3
Core objective……………………………………………………4
SWOT analysis…………………………………………………..4
Mind map of SWOT analysis of objective 1……………..4-6
Mind map of SWOT analysis of objective 2………….….7-8
Stakeholders……………………………………………………….9
Positive stakeholders……………………………………….10
Negative stakeholders………………………………………10
Financials…………………………………………………….….11
Risks…………………………………………………………….11
Tangible risks…………..…………………………………10
Intangible risks…………………………………………….10
Measurements to keep check on Risks……………………………12
References…………………………………………………………13
Introduction
Convoy is a two years old company started in 2015 by Dan Lewis and Grant Goodale that designs software that matches close by and accessible truckers to a shipping job. It is an app and service, much like uber. The usage of technology, Convoy is remodelling the $800B trucking enterprise and logistics environment for truck drivers and shippers, matching dependable trucks companies with businesses that need to deliver goods. With Convoy, providers get access to loose equipment and assets that permit them to discover hundreds they want, save time, drive fewer miles empty, and receives a commission more quick. Shippers use Convoy’s statistics-pushed insights and enterprise-leading service levels to enhance their supply chain operations and decrease prices.
Convoy need an incredible prosperity in the state of Washington also different areas. The greatest objective for convoy straight now, may be on raise a system to give administrations to those truckers the nation over. Convoy has grown to 31 workers and is planning to move into greatest one, 6000 square feet On Belltown Furthermore sets it’s headquarter there.

Executive team of convoy
CEO and founder-Dan Lewis
CTO-Grant Goodale
President- Alma Garnett
Chief financial officer-Joe Stacy
Operations manager-Hussain Kheatani
Marketing and communication manager and executive assistant-Monique Tute
Chairman and executive director-Mr Johnny Chen
Contact details
1700 7th Avenue
Suite 116#287
Seattle, WA 98101
United States
Ph no.-855-526-6869
Contact email- [email protected]
Two main objectives-
To build a network to provide services for the truckers across the country.

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To build an express services for the customers.

Objective-1
To build a network to provide services for the truckers across the country.

SWOT ANALYSIS-
Swot analysis is a planning method used to evaluate strength, weaknesses, opportunities and threats involved in a business start-up. It is used to specify the objective of business or start up and identifying its internal and external factors that might help in achieving the objectives. Identifying SWOT is essential because the steps involved to achieve the selected the objective might be derived from the SWOT analysis.

The four factors in the SWOT analysis are defined as-
Strength
Fast technology- With convoy, it is easy to create shipment as it uses the latest technology for shipping. Moreover technology can bring it ease and efficiency to the supply chain industry and improve trucking.
Environment friendly- Vehicles used for shipment are environment friendly as they consume less fuel and reduces carbon footprints.

Economic stability- Since the inception of the venture, funds have been adequate to keep the operation running. This economic stability ensures the employees to work positively.

Money back guarantee- If the customers does not receive their goods, then this company provides guarantee to pay the customer money back.

Weakness
Company in lose-Due to latest technology, company might spend much money which in return it could not cover up as they may not get much profit and face lose in the business.

Low efficiency in some routes- As this venture runs nationwide, so there are some places where there might be network problem due to which the drivers might face problem to communicate with each other.
Access to Internet-Needs access to internet which is sometimes not available due to network problem or some other reason.

Opportunities
Rapid growing market-The market in this sector is growing rapidly so, it has more opportunities for growth.

Because of technological advancements of equipment, they have much chance to expand their business.

Government help- As the trucking systems used for shipments is eco- friendly so, it has a big benefit to seek help from the government for growing their business.

Advertising- Opportunity to get sponsors. Sponsors may choose convoy to advertise their brand for promotions/ awareness.

Threats
Financial assests-company might face financial problem.
Rival companies- There is increase in number of rival companies because it is still young means of business that is still expanding.

Competition – There are many logistics industries so competition is always been a threat and which further lower down the opportunities for the industry.

Political- Political threats due to different policies of different nations.

Mind map of SWOT analysis of objective 1-
Fast technology
shipment
Cost
Connects through social media
Competitors
easy and safe transactions
Linked in.

$2000 IAG cover
Identifies people
Discounts
Provides space
Earns money
24 hours access
Successful and Aggressive
Money back guarantee
Environment friendly
Traffic congestion
Convoy
sponsors
Facebook
Twitter
Advertising
Effective visual images
Fast technology
shipment
Cost
Connects through social media
Competitors
easy and safe transactions
Linked in.

$2000 IAG cover
Identifies people
Discounts
Provides space
Earns money
24 hours access
Successful and Aggressive
Money back guarantee
Environment friendly
Traffic congestion
Convoy
sponsors
Facebook
Twitter
Advertising
Effective visual images

Objective 2-
To build an express services for the customers.

Swot analysis-
Strengths-
Fast service-Convoy team provides support and fast services (24/7/365) to their customers.

Access nationwide-To run their business up to national level, they have access to more than 10,000 trucking companies nationwide that helps them to expand their business.

Affordable price- Shipping price of this company is not expensive, it’s affordable by the customers. Its service price is 40% less as compared to other companies.
Easy booking- customers can easily do online booking.

Door to door delivery
Weaknesses-
Negative feedback as well- Inspite of their positive attributes there might be some negative sides such as network problem in remote areas, due to which their service might fail and they may receive negative response from the customers.

Traffic congestion- To expand their business the company needs to hire more trucks which might cause traffic congestion.

Delay due to any disaster problem
Opportunities-
Rapid growing market- The market in this sector is growing rapidly so, it has many opportunities to excel their business to higher level.

Attract more customers-They can provide a special facility to the customer like on particular price delivery they can have some discount to the customer .This way they can attract more customers and this is one of the opportunity to extend their business.

Third party delivery organisation
Threats-
Financial assests-company might face financial problems.

Rival companies- As there is stiff increase in this sector so there are many young companies which may give a competition to convoy in their business.

Software copy- Software can be copies and created new.

Data corruption
Mind-Map of SWOT Analysis of Objective 2
250507512065Fast services
0Fast services

301942523812400426720090805National wide services
0National wide services
9144005080Better Results
00Better Results

1924050838203295650131445
26289009525Sorted Results
00Sorted Results

55721251612265Delay due to natural disaster
00Delay due to natural disaster
52387501833244001752600212661413335002174239361950055499009810752174240828675204089082867517456156000743393440Errors
00Errors
-2381252840989Rivals
00Rivals
-2381252040890Data Corruption
0Data Corruption
-2381251431290Power Cuts
Power Cuts
3762375313626535337753136265397192530410153000375313626521145503555364Rule Logistics Businesses
0Rule Logistics Businesses
44291253364865Rapid market
Rapid market
494347514312905076825203136551911252269490Traffic congestion
00Traffic congestion
4943475878840Negative feedback
00Negative feedback
98107569215Door to door delivery
00Door to door delivery
30861002597154267200259715Easy Booking
Easy Booking
1971675393065
981075276860Financial
0Financial
41910002768593rd Party Delivery Organizations
03rd Party Delivery Organizations

28289253175More customers
More customers

Stakeholders
Every person who is effected by business either externally or internally is called as stakeholder.

Positive stakeholder-
Owners-person who initially starts the business.

Investor-Investors of the organization are those who put their investment for the organisation benefits. This is one gathering that look after the company’s development. Growth of the company helps in the growth of their assets.

Social networking sites- Most of the person to person communication destinations nowadays are incorporating area benefits alongside the administrations they give. This cause their clients to think about the area of companions while utilizing that informal communication sites.

Employees- Hard working employees are the foundation of any effective organization. Employees will just have a steady employment and pay if the organisation they are working with is running effectively.

Technologist –There are various technologists that are not related with any organisation. But are working their own. These individuals are heavily involved in the company.
Government – Government is an external stakeholder as they receive taxes while the organisation gets profit.

Local communities – Companies provide job opportunities to the community people and provides then the facilities that they can use but if the organisation causes pollution, they would interrupt them.

Customers-The individuals who uses the convoy services .They require high products with less price.

Software developer – who designs the software and work for its improvement.

Sub organisations
Negative stakeholders-
Rival companies- Companies those are also providing the same service as convoy and are competitors in their business.

Public –Some people are against the services provided by the convoy and they want those services to be excluded.

Hackers
Third party delivery companies
Financial
Start-up funding $80.5M
Income statement
Revenue $0.1 millions
Gross profit $0
Convoy revenue is doubled every month since it has started. Bill gates and other backers invested over $60M into the company which connects shippers and trucks through the app. Moreover, Start up convoy has raised $62 million to compete with uber.
Moreover, convoy spend HK$300 million on hiring staff and providing them bonus.

Risk management – A process of identifying, assessing and controlling threats to an origination and monitoring the progress of implemented strategy is called as risk management.

Tangible risks- Shortage of anything required to run a business like workforce, skills and budgets are all tangible risks. Credit risk has been considered as the one of the top business risk that has impact on financial statements.

The rising cost of supplies or increase in price due to hot competitions are tangible risks for some companies because they directly impact profitability. For example –
Skill shortage
Credit risk
Budget shortfall
Rising price
Rising budgets
Intangible risks-
The risks that include a negative commercial impact derived from regulatory action taken by the government such as meeting new environment regulations involving carbon trading are called as intangible risks. These kinds of risks are unpredictable and are not calculate. These risks cannot be controlled but the thing that can be controlled is the damage done by these risks to the company. For example-
Regulatory actions by government
Legal issues
Natural calamities
Emerging new technologies in the market
Measures to keep check on these risks-
AVOIDANCE OF RISKS- Company should refuse to engage in those activities that might cause risk for the company.

MITIGATION- Business can also choose mitigation or reduction to manage risks. In this negative consequences can be reduced. For example – software companies mitigate the risks of new program by not functioning it correctly but by releasing the products in stages.

Risk measurement process at convoy

217044431287700 Risk detection
217392932492800 Analysing

Mitigation strategy
218531648260

Implementation
216151110795
Monitoring and review
REFRENCES
  Convoy. (2018). Convoy |. online Available at: https://convoy.com/ Accessed 22 Mar. 2018.

En.wikipedia.org. (2018).Convoy.onlineAvailable at: https://en.wikipedia.org/wiki/Convoy Accessed 22 Mar. 2018.

 En.wikibooks.org. (2018). GCSE Business Studies/Stakeholders – Wikibooks, open books for anopen world. online Available at: https://en.wikibooks.org/wiki/GCSE_Business_Studies/Stakeholders Accessed 22 Mar. 2018.

Lerman, R. (2018). Trucking-software startup Convoy picks up $16M load of venture capital. online The Seattle Times. Available at: https://www.seattletimes.com/business/technology/trucking-software-startup-convoy-picks-up-16m-load-of-venture-capital/ Accessed 22 Mar. 2018.

Swotanalysis24.com. (2018). Convoy SWOT Analysis – Strengths, Weaknesses, Opportunities, Threats of Convoy. online Available at: https://www.swotanalysis24.com/swot-c/26851-swot-analysis-convoy.html Accessed 22 Mar. 2018.

 Wingfield, N. (2018). Convoy Sees Itself as the Uber of Local Trucking. online Nytimes.com. Available at: https://www.nytimes.com/2016/03/23/technology/convoy-sees-itself-as-the-uber-of-local-trucking.html Accessed 22 Mar. 2018.

   

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