Complete en Assignment

7/24/2019 Complete en Assignment

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UBTE2013 ENTREPRENEURSHIP

1.0 Background of I Dare Us

I Dare Uis a unique, intuitive and interactive experience where teams find

mysterious clues based on various story lines to solve live puzzles and ultimately

escape the room within a time limit.he ob!ective of this business is to let customers

to experience the challen"in" "ames and to brin" excitement to them. #articipants$

wittiness is the %ey for their escape.

&asically, this concept is adopted from 'scape (oom. he ori"in of this idea

recalls bac% to )*++, ohn -ilson$s text adventure, &ehind losed Doors in which the

player is loc%ed inside a toilet. here are many examples of such "ame li%e

/octropolis, text adventure anon and 0123 "ame. In 4556, this %ind of "ames is

further popularised by the apanese 7rimson (oom7 "ame by oshimitsu a%a"i.

he apanese "ame can be seen on many "amin" websites and it has spread so fast

throu"hout the internet.

/ow, the firm will brin" this concept to 8ampar area in order to fulfil the

needs and curiosity of residents. I Dare U will be located in 'consave which will be

opened soon in 8ampar. o place this "ame in a supermar%et is easily for attractin"

more customers while they are shoppin".

he plants and equipment of each sta"e will be purchased from the %ey

supplier, which are oys ( Us, I93oc%s and :ab hem.

he 8ampar :aser a" and &rea% he ode in Ipoh are the main competitors

which will impede I Dare U to start up smoothly in 8ampar. ;owever, I Dare U

has the potential to "rab the most attention of public because this is a new "ame in

8ampar area and the most important is the employees will put the best efforts to

promote the openin" throu"h internet and flyers. o attract more customers, early

birds will "et a special entrance fee in a "iven period.

his business will "oin" to have < sta"es of "ames which are Dreamy

Unicorn, Doctor :aboratory and &loody 0ary. he first room, Dreamy Unicorn is

cate"orized as the easy one which is suitable for families and children. he second

room, Doctor :aboratory requires scientific and mathematics %nowled"e to solve the

puzzles. his room is more difficult compared to Dreamy Unicorn. he name of ourthird room is &loody 0ary. he environment of this room is under the theme of

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horror. he purpose of the theme is to fri"hten the participants and distract them to

brea% the code to the next sta"e.

&esides,different time will be "iven based on each theme.he number of

participants will be


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In the business, the will follow all the rules and re"ulation in 0alaysia to prevent any

ille"al business happen in our business. :ast but not least,we will ta%e note if there are

any chan"es in the rules and re"ulation.

2.3 Soc!a+ ,orces

2ccordin" to 'velyn hen" ?45)6@, the new industry concept of business is in a "enre

of play called (eal 'scape (oom has becomin" a real9world trend. &asically this

"ame is about two or more people "et loc%ed in a decorated room and must solve the

puzzle to escape before the time runnin" out. 2s a thirty9two9year9old Bictor &la%e

says that It$s a new industry . /obody %nows about this and he also said that the few

business that have opened in the city around the country in /ew Cor% ity. his is a"reat opportunity for entreprenuer to open a (eal ame enter in 8ampar since it has

limited entertainment.

2.- Tec'no+og!ca+ d/ance

-ith the advancement of mobile phone, many people have started their business

throu"h phone application, such as, online shoppin", purchase movie tic%et, e9ban%in"

and many more. hese applications can be downloaded in 2ndroid "oo"le play anditunes. herefore, is a "ood opportunity for the firm to ma%e an application to

promotion in roupon company which is offerin" and sort of promotion to consumers

%now and online boo%in" the tic%ets for our "ames that provide convenience to our

customer.

3.0,eas!!+!" ana+"s!s

3.1Produc& ser/!ce feas!!+!" ana+"s!s

Under product and service analysis, there are 4 components such as service

desirability and service demand.

3.1.1Ser/!ce des!ra!+!"

In order to set up the business, the firm will ma%e a concrete promise to customers

that they willfeel excited and brin" up a lot of fun. he firm is ta%in" this opportunity

to fill the "ap in the mar%et place as 8ampar is lac% of entertainment. his is a "oodtimin" to introduce this business as the residents in 8ampar are increasin". 3o far

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there isn$t any fatal flaws arise in the service basic desi"n. he business is about real

"ame entertainment center with the name of I Dare U> hese "ames consist of will be

located at 'consave 8ampar which is openin" soon. -ith the "rand openin" of

'consave, many people will pay a visit there. &esides, the firm will have the "rand

openin" to"ether with 'consave in order to "ain customer awareness and promote the

business. Unconsciously, the profit mar"in will increase. &esides, the rivalries amon"

competitors are :aser ta" and &rea% he ode. ;owever, the firm had confident that

this would not affect the business since most customers would li%e to try somethin"

new.

3.2.2Targe arke rac!/eness

he tar"et mar%ets of I D2(' U> are children,family,youn" adults. here are are families, children and

youn" adults. here are several ways that used in to reach out the tar"et customers.

he first one would be throu"h the Internet, the firm would desi"n an official website

so that the customers will be able to "et any latest information easily and online

boo%in". &esides, Faceboo% and witter account also available so that can have quit

respond to customer questions and solve the customer problems or curiosity. he

second way would be throu"h distributin" flyers, we will distribute flyers around

8ampar /ew own area in order to create awareness and people will concern and "et

attracted to read the information on the flyers. -e will also create a 0obile

application of the trial version of the "ames of I D2(' U> to let the users try out

the feature of the "ames, if they interested, they can !ust direct step into I D2(' U>

to have real "ame experience. he price bein" set for the entrance fees would be

(045 for the easy sta"e, which is Dreamy Unicorn, (04E for the medium sta"e,

which is Dr. :aboratory and (0


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annual member fees such as )5G for each member. he firm will also provide

promotions durin" the first A days li%e "ivin" the discount up to

8.2.1 Dec!s!on*ak!ng Issues

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Decision9ma%in" is a useful method of runnin" a business in order to identify ethical

courses of action.2ll the decision that ma%e should center on protectin" employees

and customers ri"ht,ensure the operations of our business is fair and !ust and protect

customers values and beliefs.

8.2.2 ,unda*ena+ Issues

Fundamental issues which are face inte"rity and trust. ;onesty conducts the business

affairs and treats each of the customers with "ood manners and fairly is the basic

understandin" of inte"rity. 2 hi"h level of trust can be developed for the customers

when customers perceive that the business is exhibitin" commitment to ethical

business practices. 0aintainin" a relationship of trust with customers is also important

because it mi"ht be a %ey determinate for our business to success.

8.2.3 D!/ers!" !ssues

Diversity issues is an ethical response to diversity will be"ins with recruit diverse

wor%force and enforces equal opportunity in all trainin" pro"rams.

6.0;r!!ca+ R!sk anage*en

(unnin" a business can be a dan"erous occupation with many different types of

ris%. 3ome of these potential hazards can destroy a business, while others can lead to

si"nificant dama"e that can be costly and time consumin" to repair ?Davis, 45)6@.

;ence, it is very crucial for our business to properly and thorou"hly assess and

anticipate possible ris% that mi"ht be faced in the future, then mana"e those ris%s in

the best possible manner in order to minimize their impacts on the business. In short,

ris% mana"ement is important to put our 'scape (oom business in a lon" run. (is%

mana"ement is the identification, assessment, and prioritization of ris%s, followed by

coordinated and economical application of resources to minimize, monitor and control

the impact of unfortunate events, as well as to maximize the realization of

opportunities ?3tor%ey, 45))@. a%in" ris%s is a necessary part of "rowin" business as

it has the ability to strate"ically seize business "rowth opportunities ?onrad L Cao,

45)5@. ;owever, failure in handlin" ris%s effectively mi"ht also lead to various

irreversible ne"ative consequences to the business ?onrad L Cao, 45)5@. 2s a result,

we would li%e to discuss in this part of the essay, about the possible ris%s our business

mi"ht face and the proposed solutions in dealin" with the issues.

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(is%s comes in many different forms for even a small scale business li%e our

'scape (oom. he few most common ris%s faced by modern companies are

financial ris%s, mana"ement ris%s and operational ris%s ?3tor%ey, 45))@. First of all,

we will analyze the financial ris%s that mi"ht be exposed to the company. In a runnin"

business, capital flow is a crucial part of its operation. 2 company often faces issues

in areas such as credit, interest rates, assets, liabilities and etc. (is%s occurrence is

imminent in the mentioned financial areas. ;ence, our company shall always be

prepared to cope with any problems that mi"ht arise in those sectors. areless

handlin" of those ris%s can lead to heavy loss in the business or in worse case,

termination of operation. 0any effective precautions can be ta%en to better equip our

business in dealin" with those issues. For example, frequent and re"ular auditin" !ob

can be performed to closely monitor the assets and liabilities of the company. 2lso,

reducin" the term of business pro!ection can help our company to be more flexible to

constant mar%et demand chan"es and technolo"y advancement.

&esides that, our company is also susceptible mana"ement ris%s, which usually

involve human resource and employee relations crisis. In order to run a successful

business, it is essential for our company to have stron" human resource base, as well

as stable employee relationship with us. Issues li%e employee turnover and dissatisfied

wor%ers have been proven lethal to many other business and these problems are

hi"hly probable to occur in our business. ;ence, our company can try maximizin"

benefits provided to the employees in order to increase their loyalty to the company.

he wor%ers are also ensured fair treatment and "iven equal chance in their career

pro"ression to always %eep them motivated. hese measures are crucial in preventin"

these ris%s to brin" ne"ative impact to the company. If the mentioned problems did

occur in the business, private tal%s can be held to further ne"otiate and retain theefficient employees.

:astly, operational ris%s is also a se"ment not to be overloo%ed. 0ost of the ris%s

for a business occur at the operational side of the company. 0any problems can occur

in daily operations of an or"anization. For example, ineffective wor% schedulin", poor

inventory mana"ement, unprofessional customer service and many more. -ea% lin%s

in these parts of the business can usually cause chain effects and in turn lead to

unima"inable dama"e to the company in the end. ;ence, efforts such as foundin" of

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an independent third party "roup of professional to monitor daily operations of our

'scape (oom can wor% as a "ood prevention of those problems. ollectin" re"ular

feedbac% from the sta%eholders is also helpful in better understandin" their needs and

in turn, bein" able to devise business strate"y that is better suited to their

requirements.

In short, financial, mana"ement and operational ris%s are the ma!or issues that

mi"ht be faced by our 'scape (oom business. #recautions as mentioned above are

crucial in maintainin" our business continuity.

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