Assignment Taken

Assignment 1, Assignment 2 & Assignment 6

Case Understanding

In this case study, we got to know about the scope of Renewable energy in India. And EV (Electronic Vehicle) in the automobile industry is going to be at the boom in the upcoming time. As the government is going to adopt 30% of electric vehicles by 2030. The general problem of EVs: • EVs can stop in the water-logged areas. According to my pertaining department “HR” in this case study the problems that I found are: • Less manpower. • Funds are not up to the requirement. • No proper management system. • No experienced person for handling of finance.

BCS Solution Summary

Solutions to Business Case Scenario as per my problems • Batteries should be well protected. • Organizing Seminars & look for a few interns from colleges for live projects. • Opting for Fundraising or Crowdfunding. • As of now we’ll be distributing management responsibilities among the present management staff. • As of now hiring a financial consultant. • Finding the perfect fit for the opportunities provided by our company in the future.

Solution

1.  Proposal of FUNDRAISING

OUR PROJECT

We are a startup company for the production of Electronic Vehicles. We’ll be producing these EVs as it is ECO-FRIENDLY and doesn’t emit TOXIC GAS or SMOKE in the environment as it runs on a clean energy source.

They are the better options from the hybrid cars as hybrids running on gas produce emissions. we'll be contributing to a healthy and green climate.

IMPORTANCE OF THE CAUSE

Importance of the EVs in the present scenario

• It produces zero tailpipe emissions; electric vehicles can have significant emissions benefits over conventional vehicles.
• It typically achieves better fuel economy and has lower fuel costs than similar conventional vehicles.

• It has the benefit of flexible charging.

WHY MAKE A DONATION TO THIS CAUSE

Environmental issues are the harmful effects of human activities on the biophysical environment. Environment destruction caused by humans is a global, ongoing problem. By the year 2050, the global human population is expected to grow by 2 billion people, thereby reaching a level of 9.6 billion people. The human effects on Earth can be seen in many different ways. The main effect is an increase in global temperature. According to the report “Our Changing Climate”, the global warming that has been going on for the past 50 years is primarily due to human activities. The main problem that caused global warming in the first place is emissions caused by the burning of fossil fuels.

This project can also help in developing a positive image of a company as it contributes to the betterment of the environment.

INTRODUCTION

We, Team LHARA envision a country running on electric cars. A future where people breathe pure emission-free air. EV is the future of the automobile industry has a great future opportunity leading to a better environment. We are a team of 8 members including 2 members of Marketing with experience in Automobile Industry, 2 members of Management, 2 members of Mechanical Engineering, 1 member of Computer Science Engineering and 1 member from Electrical Engineering. We are here to contribute to an Eco-Friendly environment.

Surely certain problems lay with the idea in today’s world but we innovatively provide solutions to these problems. Our vision is environment-friendly, safe, and a futuristic investment.

 

2. Detailed Overview of Expansion Plan for Next 5 Years

In next 5 years we are planning to hire an experienced workforce with good practical knowledge for the:

• Manufacturing Unit (ITI holders)
• Management Department (Finance, HR, Marketing, Business Analytics & IT)
• Automobile Engineers
• More Mechanical and Electrical Engineers

And we are also planning to hire a CEO for our company.

Also hiring will be done according to the requirement and the interns are always welcomed.

HIRING PROCESS

We’ll hire the employees by using "Direct Process" like posting ads on online Job Portals Nuakri.com, Monster, Shine, etc for respective positions with required education and experience. The plan can also include "Headhunting".

TRAINING  

We’ll be providing training to the freshers or any person employed by the company by our experienced employees, i.e., in-house training will be provided.

RETENTION PLAN

There will be profit sharing whenever more revenue is generated by the company. By providing 1% of their respective salaries as the profit sharing. Company merchandise and goodies to every employee along with the certificate of internship or training will be provided to the interns. Also, Stipend is there in the plan for the Interns with good recommendation and job opportunities.

 

6. Hiring, Training, and Retention Plan for 2021-22

HIRING PLAN

As of now we won’t be hiring any new staff and distributing responsibilities among the present staff like one member from the Marketing department will be the “Acting CEO” and rest of the roles will be distributed accordingly due to lack of funds except for a “Financial Consultant” whom we’ll be paying on an hourly basis.

And we’ll be providing internships to college students to participate in the live project to get some innovative ideas from them for the design or prototype modification.

Since the responsibilities are distributed among the present staff, they are responsible for setting up the initial manufacturing unit. As it’ll take time in collecting the funds, quoting, and setting up the machinery of the manufacturing unit so we can’t hire anyone before that.

We’ll be recruiting the employees after the whole setup of the company in the coming year.

TRAINING PLAN

Since we are not hiring any staff for the year 2021-22, we’ll have all the interns who’ll signup for the internship be trained by our engineers to complete their live project i.e., we’ll have in-house trainers for the training either for engineering or for management trainees.

Also, as we are thinking of hiring of employees in the coming year after the collection funds and setting of manufacturing then also, we’ll have in-house trainers for the employees as well.

RETENTION PLAN

For this year the Founders will be paid only Rs.25000 and Sweat Equity will be added as the reward for their foregoing salary according to their working position in the team. Afterward, they can collect the reward in place of their Sweat Equity when the company gets stabilized.

Certificate of the internship is provided to the interns along with some merchandise and goodies for/as the company local promotion.

In the future we’ll be sharing the profit after the revenue generation with every employee in the company i.e., 1% of their respective salaries will be added for profit sharing.

 

Conclusion

According to my perspective and the information provided by the case scenario the proposed plan of Electric Vehicles can be successful. It can be initiated with the Corpus Fund of Rs. 46 Lakh with the main focus on cost-effectiveness by fundraising for the company either from the investors or by crowdfunding rather than taking a loan as our Prototype is already ready. We can consider a Loan from the Bank of Rs. 60 Lakhs as our secondary option in case we don't get enough funds. And as for the Initial year, we are distributing the responsibilities of the team among the founders i.e., the present 8 members.

Attached File Details

Video

https://youtu.be/9UZ3P_RvJdo