New Venture Planning †Free Samples to Students

Question: Discuss about the New Venture Planning. Answer: Introduction: In the assignment, the interviewee reflects on the trajectory of a newly opened venture. The assignment explores the three major themes that bolster the foundation of the business. The assignment is composed in a story format. Therefore, the narrator delineates the themes in a reflective style. Despite being a student of Biotechnology, he showed an unflagging interest in launching start-ups. It is true he has applied my theoretical knowledge and carved out a unique business idea. Biotechnology gave him an impetus to introduce something new in the national market. He has deliberately chosen food processing industry, as it is a fledgling segment. The domain needs more experimental work. Bio Nosh is his brain-child and he always wanted to experiment with locally grown food stuffs. As we know, Indian farmers use chemical fertilizers that are detrimental to the growth of local supplies. Based on this conviction, he has outlined my business idea. He began to use organic materials that preserve the malleability and elasticity of the food. Hence, he came up with his start-up product Bio Nosh. Biotechnology gave him a driving force. At the same time, he has an unflagging interest to experiment with the locally grown food stuffs with an organic material. Agriculture is the back-bone of our nation. Doing something to improve the state of agrarian products can be really interesting. The startup Bio Nosh gave him this opportunity and he began to initiate organic farming in the regions of Uttar Pradesh and Haryana. Subsequently, this technology permeates the western part of India. He completed his post graduation in Biotechnology from the University of Delhi. He specialized in Bio Pharmacy and Genetic Science. After completing his post graduation in Biotechnology, he started to work with Ranbaxy pharmaceutical wing as a research assistant. His job location was in Bangalore, India. As a research assistant, he has gained a practical knowledge of pharmacy and cognitive science. His foundation became strong. During that time, he was brimming with start-up ideas, which he materialized after a couple of years. As far as business is concerned, his university friends became a big source of inspiration. During the university days, he used to toy with the notion of launching a start-up business. Another key person was Vijay Shekhar Sharma, the founder and CEO of paytm app. During the process, he has constantly been helped by two of his university professors. They were like a god-father to him and helped him with everything. They composed a letter of reference for him, which gave him an opportunity to gain a substantial grant from the CSIR-Himalayan Institute of Biotechnology for the completion of the project. Initially, he had only a bank loan that gave an impetus to start his business. Subsequently, his professors of the University of Delhi extended their helping hands. They composed a brilliant reference letter for him that helped him gain a substantial fund to spruce up the project. The start-up, Bio Nosh was his brain-child and he treated this project with utmost care. He has never imagined becoming Mark Zuckerberg or Bill Clinton. Their names are written in golden letters on the pages of global history. However, he has always tried to reach the top and promote his business to a high level. Before launching a start-up, he prepared himself well and browsed through management books that gave the idea of business orientation. Technically speaking, his enterprise witnesses an integration of theory and practical ken. Initially, he started the business alone with a substantial bank loan. Later, two of professors extended their helping hands. However, they are more like sleeping partners, as they are preoccupied with class lectures and tutorials. He is an active member and the CEO of Bio Nosh. Initially, he was assisted by four of college mates and a courier boy. The courier boy used to carry all the heavy materials and transferred them from one place to another. The courier boy is still with the organization. His friends went to the United Kingdom for higher studies. In 2014, the enterprise expanded and he hired 40-50 employees for his organization. At the same time, he opened a new branch at Saket, Delhi. Bio Nosh is headquartered at Noida, Uttar Pradesh. In 2013-14, the business began to expand and absorb many employees into its circuit. The organization has two branches, including headquarter in Noida. Gradually, the horizon of the business is expanding at a rapid pace. Firstly, the project is his brain-child and the growth is not thrust upon him. He has taken the initiative and adumbrated the business structure from the inception to its logical culmination. He countenanced many challenges like allocation of fund, disbursement of resources to the key areas and identifying potential threats to the business. As a small-scale business owner, he enjoyed the level of independence that was hitherto missing in my occupation. At the same time, socia l inclusiveness is another aspect that he experienced. The good times are when they receive recognition for the service they provide. Bio Nosh is like a pet subject to him. At Noida, they work as a team and face all troubles together. As such, they have not countenanced crises since the development of start-up. The challenge is related to fund allocation. He managed the problem with ease, as he has the backing of his professors. With the launching of a start-up, the business has gained a new dimension. The organization has two well-developed branches in the capital city, Delhi. It helps the farmer of North India to the hilt. The net turnover is $2.5 million for 2016-17. During the advanced stage, the professors helped him incessantly with funds and reference letters. They were like a messiah and added a shining feather to his cap. Being a new in the field, he see all startup companies as potential competitors. However, he admire the biotechnology startup Gelesis as the net worth of the company is pegged at $31,500,000 in 2015. (The compa ny was founded in 2014). The primary customers are agricultural specialist, farmers and agrarian market owners. With the passage of time, the demand of the agrarian market has been increasing apace. The lab technicians and bio-specialists browse through various sources and develop new technology that revitalizes the farming patterns. Being a modern start-up venture, social media marketing is used incessantly to promote the business. Initially, his friends and colleagues helped him with strategy making ideas. Besides, he is an avid reader and glean information from the textbooks of Oliver Gassman (2015) and Jeffrey H. Dyer (2013). The role remained the same. The only change he perceives is has become more responsible towards his duties. Absolutely yes. He sill enjoys being an entrepreneur and constant learning keeps him motivated. He works strenuously only during the time of peak season. In the lean season, he enjoys holiday with my family. His wife is a student of Business management. They often discuss many things about business over a steaming cup of coffee. He derives guiding principles from the books of business management by Kenneth E Everard and Steven Langman. It is indispensable to read important textbooks of management and outline a fresh business trajectory. He does not take pride in the fact that he launched an exciting start-up. He believes that each one of them is an entrepreneur and work as a team. Moreover, he is still in the learning phase of entrepreneurship. Conclusion: His key objective is to establish my enterprise on a solid footing. He aims to expand the contours of his business. It is based in New Delhi now. He has plans to establish offices in Western and Eastern metropolitan cities. He aims to take his business to the foreign locations like Tokyo and New York. Absolutely yes. One should have a clear cognizance of the future. He wants to see himself working as a co-partner of any multinational biotech start-ups. It is his long cherished dream. Business and personal achievement are inseparable. He wants to achieve new feats, as far as successful career is concerned. For the time being, he is not considering another business option. It is like building a resplendent castle in the sky. Three wishes would be wealth, prosperity and well-being of the farming nation. It was an awesome ordeal to meeting such a kind and responsive individual who finished up with passing on his all the best.