The Tiny Powerhouse is the suggested name of my business that is aimed at providing effective solution towards power supply breakdown. Following various problems encountered by firms which entirely rely on only one source of power, the creation of smart generator by the powerhouse company can be used to solve the problem. In this regard, the smart generator will be of manageable size yet more efficient in providing all probable power solutions. It is capable of detecting power outage by automatically switching on and off accordingly.
Looking at the level of market attractiveness, the business has the moderate potential of doing well due to few competitors as well as fragmented industry size. The environmental trends are averagely operating in favor of the industry and the business has neutral long-term outlook (Chou, et al., 15). Looking unto the importance of the business product to customers, it is evident that most of the organizations, as well as individuals, would like to have the product in their activities.
Within the broader industry, the business is aimed at availing the product to small and medium-sized industries that make use of power in manufacturing and relying on products from one destination to another. After assessing the market, I have come to the realization that there are few firms that major in providing such product. This simply means the market has few competitors. Also, the existing rivals h…
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