BUSINESS move into greatest one, 6000 square

BUSINESS CASE ON CONVOY BY SIMARJEET KAUR (S300494) MASTERS OF ENGINEERING (ELECTRICAL) CHARLES DARWIN UNIVERSITY Table of contentsIntroduction…………………..………………………………….3Core objective……………………………………………………

4SWOT analysis…………………………………………………..4Mind map of SWOT analysis of objective 1……………..4-6Mind map of SWOT analysis of objective 2………….

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

….7-8Stakeholders……………………………………………………..

..9Positive stakeholders…………………………………….

10Negative stakeholders………………………………………

10Financials…………………………………………………….….11Risks…………………………………………………………….11Tangible risks…………..

…………………………………10Intangible risks…………………………………………….10Measurements to keep check on Risks………………………….

..12References………………

…………………………………………

13IntroductionConvoy 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 convoyCEO and founder-Dan LewisCTO-Grant GoodalePresident- Alma GarnettChief financial officer-Joe StacyOperations manager-Hussain KheataniMarketing and communication manager and executive assistant-Monique TuteChairman and executive director-Mr Johnny ChenContact details 1700 7th AvenueSuite 116#287Seattle, WA 98101United StatesPh no.-855-526-6869Contact email- [email protected] main objectives-To build a network to provide services for the truckers across the country.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-StrengthFast 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.WeaknessCompany 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.OpportunitiesRapid 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.ThreatsFinancial 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 technologyshipmentCostConnects through social mediaCompetitorseasy and safe transactionsLinked in.$2000 IAG coverIdentifies peopleDiscountsProvides spaceEarns money24 hours accessSuccessful and AggressiveMoney back guaranteeEnvironment friendlyTraffic congestionConvoysponsorsFacebookTwitterAdvertisingEffective visual imagesFast technologyshipmentCostConnects through social mediaCompetitorseasy and safe transactionsLinked in.$2000 IAG coverIdentifies peopleDiscountsProvides spaceEarns money24 hours accessSuccessful and AggressiveMoney back guaranteeEnvironment friendlyTraffic congestionConvoysponsorsFacebookTwitterAdvertisingEffective visual imagesObjective 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 deliveryWeaknesses-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 problemOpportunities-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 organisationThreats-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 2250507512065Fast services 0Fast services 301942523812400426720090805National wide services 0National wide services 9144005080Better Results00Better Results192405083820329565013144526289009525Sorted Results00Sorted Results55721251612265Delay due to natural disaster00Delay due to natural disaster52387501833244001752600212661413335002174239361950055499009810752174240828675204089082867517456156000743393440Errors00Errors-2381252840989Rivals00Rivals-2381252040890Data Corruption0Data Corruption-2381251431290Power CutsPower Cuts3762375313626535337753136265397192530410153000375313626521145503555364Rule Logistics Businesses0Rule Logistics Businesses44291253364865Rapid market Rapid market 494347514312905076825203136551911252269490Traffic congestion00Traffic congestion4943475878840Negative feedback00Negative feedback98107569215Door to door delivery00Door to door delivery30861002597154267200259715Easy BookingEasy Booking1971675393065981075276860Financial0Financial41910002768593rd Party Delivery Organizations03rd Party Delivery Organizations28289253175More customersMore customersStakeholders 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 organisationsNegative 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.HackersThird party delivery companiesFinancial Start-up funding $80.5MIncome statement Revenue $0.1 millionsGross 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 shortageCredit riskBudget shortfallRising price Rising budgetsIntangible 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 issuesNatural calamitiesEmerging new technologies in the marketMeasures 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 detection217392932492800 Analysing Mitigation strategy218531648260 Implementation216151110795 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.   

x

Hi!
I'm Gerard!

Would you like to get a custom essay? How about receiving a customized one?

Check it out