REPORT ON BUSINESS PLAN

UNITED INTERNATIONAL UNIVERSITY

Masters of Business Administration
Course Title: E- Business
Course Code: MIS 608
Section: A
Submitted To
Dr. Mohammad Badruddoza Mia
School of Business and Economics

Submitted By
Name ID
Arefin Wisea Ablag 112-193-038
Sanjida Nasrin Lima 112-193-025
Nurun Naher Nipa 112-193-065
Shatabdi Margaret Botlero 112-193-047

Date of Submission: 2nd May , 2020

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 Introduction
Tiffin Box is a Home Cooked Food Delivery service, food pooling among a network of 1k+
homes, office food delivery, all around recorded kitchens and a network of capable culinary
specialists and bingers.

The essential motivation to make the specialty module was to engage and give practical salary
alternatives to ladies who are homemakers. Tiffin Box lets them dig in their enthusiasm for
cooking and conveying yummy, scrumptious, solid nourishment. The nourishment is set up in
their own one of a kind house, they put in all the push to make the nourishment new and we
convey their endeavors in conveniently pressed feast boxes

Besides it is also designed for the corporate persons to get the taste of homemade food when they
are working hard away from home

We treat our business as our obligation and duty towards ourselves and the general public why
we never bargain with our quality and value the review which we get from our clients about our
administration to them.

All three meals: breakfast, lunch and dinner are provided to customers as a one time order or
through a subscription model. Customers can order food by choosing dishes from a chef-crafted
menu or create a request for something specific We only prepare Tiffin's as per the orders in
advance, for which the customer has to follow the instructions mentioned below:

Pre-ordering required
-One day prior to your requirement.
- Same day for 'Lunch' before 9 am.
- Same day for 'Dinner' before 4 pm.

We made a business plan which has been discussed in following pages

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 Value Proposition

Value Proposition means how the product or service fulfills the needs of customers. Why
customers will choose to do business with the firm instead of another firm – what the firm
provides that other firms do not or cannot? Why should the customer buy from you? Creating
and testing a strong value proposition will probably yield significant improvements across all of
your key measurements, from your overall conversion rate to your average order value. In fact,
we believe that testing of value propositions ought to be a key part of any e-commerce
conversion optimization strategy. Our value propositions are-

Provide homemade food (healthy food): In our life food plays an important role, as they
provide us with vital vitamins and minerals. It is necessary that which foods we choose to eat
should be healthy and clean food. Homemade food is the best health well food. Preparing food at
home, one can control the cleanness, healthiness, freshness of the meal. We will ensure that our
customers will get the taste of homemade food when they are working hard away from home as
our food is made in house by housewives. Always remember that homemade food is the best way
to be healthy and diseases free.
Earning source for housewives: In today’s world prices of almost everything is getting doubled
by each passing decade. And in such a tough economy, it is becoming difficult to sustain a
family with the income of only one family member. Also, it is generally said, ‘The more you
earn the more happily you can live’. So, the homemaker/ housewives need to start earning, not
only to become independent but also to support their families. We’re giving opportunity to our
housewives who want earn some extra money by their cooking skills. They can earn money with
the comfort of their homes. The housewives just need to choose the right job for them depending
on their comfort level to earn some extra money.
Freshly cooked food: As our moto is to serve healthy food, we place order to our reseller
(housewives) after getting order from clients. After getting the orders we will choose reseller
(housewives) by their location as we’re choosing and had selected many housewives in our list
from the very beginning from different locations. We will ensure that the consumer will get the
food within 30 minutes it has been cooked.
Friendly, safe and efficient money transaction: While buying-selling anything money
transaction is very important and if it is online based, it become more considerable. Both buyer
and seller are facing many frauds now-a-days. We are ensuring our client the safer money
transaction ways besides we have a physical office. There are several ways one can transfer
money – some traditional, some emerging. They can pay us by digital applications like -Bkash,
Nogod or they can choose the cash on delivery system. Though cash on delivery may be
considered the "old-fashioned way" when it comes to transferring money, using cash can be
extremely practical in some circumstances.

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Efficient product delivery: Delivering products on time and efficiently is not always easy, but
if done properly, it can help a business stand out from the competition. From one-hour Amazon
delivery, to Postmates and TaskRabbit, the digital ecosystem is changing rapidly. Our Clients
have to order their food 3 hours before and after getting the order, we place order to our reseller
(housewives). We choose the resellers (housewives) location wise, as we’re choosing and had
selected many housewives in our list from the very beginning from different locations. We will
ensure that the consumer will get the food within 30 minutes it has been cooked. So they will
have the fresh food within a specific time with safer ways.
Special discounts for subscriber (Regular customers): If any client wants to make a weekly
package (minimum 5 days a week) they will have to subscribe as “special customers” there will
be no subscription fee. We will give special discounts/coupons to our regular customers.
Note: Make a weekly package for regular clients which contain different set menu for different
days.

Trust and authenticity: We will have a physical office. We will have product reviews and
testimonials on our website/application. Our website/application is secure and customers can be
confident we will not compromise their data or share their email. All of these factors will impact
buying decisions.
Free shipment: No delivery charge will be taken from the clients.
Return policy: Return policies are the rules businesses establish to manage the process by which
customers return or exchange unwanted or defective product that they have purchased
previously. It is a good idea for all e-commerce websites to establish a refund policy, yet many
site owners don't know where to get started on this task. We are ensuring our clients the safest
delivery system with the fresh foods as per their requirements but for many circumstances if
there is any issue arises regarding the food and if the clients prove that the fault is ours , they can
return the food and we will refund them if they pre-payed us online.

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 Revenue model
Revenue by sales
Our sales came though payment of customer and we provide payment to our reseller in the basis
of quantity they have been made. During this process we cut 15% as commission from reseller,
where 10 % for process charge and 5% for delivery cost from each customer payment. Basically,
we provide food to our customer from various reseller through our application which make a
bridge between reseller and customer who ordered food.

Revenue structure:
Sales
-COGS
Operating profit
-expense
=Profit [EBIT-earnings before interest and tax]
 Sales: Total customer Payment
 Cost of Goods Sold: The amount which is bear by our reseller for
preparing order.
 Expenses: administrative cost, delivery cost.

Advertising revenue model

In the advertising revenue model, a company that offers content, service, product a forum for
advertisement and received fees from the advertisers. We will allow different types of
advertisement in our website and application, including other’s advertisement of applications.
Through advertisement we will take a certain amount of fees from the advertisers. This will be
our secondary earing source.

Subscription revenue model

The Subscription revenue model, a company that offers content services charges a subscription
fee for access to some or all offerings. The resellers (housewives) and the clients both will have
to create an account in our websites/application through registration. We will charge the
subscription/registration fee only from the resellers (housewives) there will be no
subscription/registration fee for the clients.

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 Market Opportunity
In today’s business environment, sustaining growth and profitability is never a guarantee.
Technological and scientific advances shorten the life cycles of products and services, business
models change and new competitors appear from outside the industry. This instant creates new
business opportunities.

First of all we should define a framework to search for opportunities. To do this, it is necessary

to understand company’s business direction and to have knowledge of the resources, strengths
and capabilities of our company.

Once we have a good understanding of company goals and areas of expertise, the next step is to
analyze the market, assessing consumer needs and how they are being met by companies
today. In order to identify market opportunities, the business model as a whole must be evaluated
by identifying consumers and companies and other factors such as brand value propositions,
direct and indirect competitors, supply chains, existing regulations and the general environment.
Let’s examine how to analyze these factors in detail below.

Identify Market Opportunities

Consumer segmentation

To understand the demand of a market, we must identify consumer segments that share common
characteristics. These characteristics can be “hard” variables such as age, gender, place of
residence, educational level, occupation and level of income or “soft” variables such as lifestyle,
attitude, values and purchasing motivations. In our business our target customer’s are jobholder,
students and for the peoples who are eager to taste the homemade food.

Purchase situation analysis

Purchase situations must also be examined to uncover expansion opportunities. Questions to ask
when reviewing purchase analysis are:

 When do people buy our product or service?

 Is it when they need it?
 Where do people make the purchase?
 How do they pay?

Looking at distribution channels, payment methods and all other circumstances that involves
sales it could be much easier for the buyer to order and the products and services will be
decorated. Tiffin box has their own websites and apps system so that customer’s will order the
food very easily.

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 Competition analysis

Knowing the competitor is important to evaluate the opportunities. Because how they run the
business in this market by proper research it could be found that where their lacking is. Relevant
questions in this case are:

 What are the products and brands of market that are growing more significantly and why?
 What is their value proposition?
 What competitive advantage do we have over them?

Analysis of complementary products and services

We monitor the performance of other companies’ products, which are complementary to their
own. So there is lots of option around the market for the consumer. To differentiate with them
we have to increase our food quality and fast services so that we can compete with the
complementary products of the markets.

Environment analysis

Market opportunities can also be identified by analyzing changes in the environment with
technological and scientific developments generating new business opportunities. Changes in a
country’s regulatory framework can also create opportunities.

Climate change, geopolitical movements and changes in financial markets also influence market
opportunities. It is important to research environment which is safe and the business do not
harmful for the environment.

We have to analysis before starting the business to where we have market opportunity to run the business.
For that demographic, geographic, financial and managerial capacity should be analyzed before. Our
business is to deliver the homemade food to the door where they want to taste the homemade taste. When
we analyze the geographic area there are lots of demand for homemade food, but in the shortage of our
managerial capacity we cannot deliver anywhere in Bangladesh. So our focused area will be in Dhaka
city. We will be expanding our business then it will deliver in district like Narayangonj, Chittagong etc

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 Competitive Environment
Competitive environment’s influences in the market should not be underestimated. The
relationships identified by Porter in his five forces tried to accept the fact that competitors have
much power and different types of idea that can be beat our business. Tiffin Box is trying to
build effective business strategies that enable the strengths of the Internet to work for them in
establishing competitive advantage. Indeed, the successful firms will take innovative ideas to
compete in market and adapt new strategy for the innovation.

Threat of Substitutes
Increasing market efficiency
leads to market expansion.

Power of buyers Improves

Power of supplies Reduced Rivalry Migrates
bargaining power over
barriers to entry and competition to price.
traditional channels.
expansion of competitors Widens geographic market
Reduces switching cost.
gives more

Barriers to entry Reduced

as less need for sales,
staff,access to channels,
physical assets. Difficult to
keep internet applications
proprietary.

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 Competitive Advantage
For our business competition are mainly the food delivery business, & restaurants. Though our
business is new or we do not have much experience like them but we have some competitive
advantages that may help us to survive in the market those are:

1. Social Benefit: Our business has a social benefit that it is not only providing us profit but also
empowering women. Our business is giving the opportunity to the house wives to earn money
independently without hampering their daily responsibilities that will attract our customers
toward us

2. Emotional Attachment: As in Dhaka many people have to live here because of their job,
studies or other purpose. The thing that they miss the most is homemade food from their food.
Our product is providing them the opportunity to taste the love of home cooked food that will

3. Food Costing: As our food is not cooked by a chef or served by a waiter or cooked in kitchen
which has utility bill the costing our food will be low than our competitor without compromising
the quality of food.

4. Ensuring fresh food: As we do not a specific menu and food are not made in bulk amount it
is convincing that our food made with fresh raw material. As they are not made for huge
commercial purpose people may trust our product more than restaurants

5. New Menu: As our menu is changing everyday our food buyers can enjoy different
combination of food every day that would be more preferable to them than the fixed set menu of
restaurant.

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 Market Strategy
As Tiffin Box is working as mediocre between the house wife and the buyers so we have to
consider both of them as our customer. That’s why we have to make our marketing strategy in a
way so that we reach both of their attention and make a place of our business on their mind

We are dividing our marketing strategy in several parts they are:

Traditional Strategy: We have divided our traditional marketing strategy into two parts

1. House Wife: For house wives our main motive will be grabbing their attention and
communicating them their benefits from our service. For that we can distribute templates
of our company explaining our business near school and coaching centers besides we can
arrange mini events area based that may grab their attention
2. Buyer: As we mainly focusing corporate persons, we may arrange some events in
different organization where we may explain our product to them also, we may sponsor
event in different organization so that we can grab their attention and communicate our
value.

We may also use media such as radio, newspaper & bill board to promote our product.

Online Marketing: This the era of social media so is mandatory for every organization to
promote their product in social media if they want a good positing in customer’s mind. We create
page / profile in every social media and promote our product such as Facebook, Instagram ,
Twitter .

We also may provide advertisement E-Business sites to promote our product such as Bdjobs,
Swapno online, Meena Click, Chaldal, Prothom Alo jobs that are frequently used by our
customers.

Referral Program: Referral programs have helped each of these leading online businesses
grow by engaging and leveraging their brand’s biggest assets: their customers What began as
good thoughts for developing their business turned out to be first rate programs that Capture

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client’s development. Like all marketing programs, referral marketing is most effective when
managed efficiently and optimized to attract the right customers.

As our business is new so we will launch a voucher for the customer who will refer a customer
will get 10% discount on next meal and New customer will get 50 taka off on first meal

Tie Up with Bloggers: In the era of social media people are following bloggers or youtuber
more than the media celebrities so we will tie up with the blogger and promote our product by
them through their stories or even by their You tube channel.

For that we may arrange lunch or dinner event where we will communicate to them our whole
project and the message, we want our customer to have so that our brand gets better position on
our customer mind. The food bloggers we may initially started are:

 Rafsan the 'ChotoBhai'

 Petuk Couple
 Provaeats
 Khudalagse
 Lit Eat
 Iffybiffys
 Dhaka Slurps

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 Organizational Development
TIFFINBOX is an organization which is divided into six crucial departments. Each and every
department is playing very important role to run the business. The major departments of
TIFFINBOX are given bellow:

1. Business Development Team

2. Human Resources and Talent Management
3. Information Technology
4. Customer Support Team
5. Finance and Accounts
6. Operations and Logistics
1. Business Development Team: This team is mainly focused on research and identifies new
potential market opportunity for the organization. Moreover, Business development team contact
with potential housewives/clients via e-mail or phone in order to set the business meeting with
housewives or clients. They deal with clients of Dhaka & doing analysis on consumer experience
of TIFFINBOX. They mainly responsible for onboarding the new clients, maintain day to day
communication with clients and organizing events, maintaining the website and app from the
back panel.

2. Human Resources and Talent Management: Human Resources and Talent Management is
responsible for maintain a satisfied, skilled workforce and bring the brightest talent to a
company. This department work for hiring a new employee, a recruiter research on similar
positions at other companies, helping determine the qualifications and compensation for the role.
Moreover, they screening CV and evaluating the employee and based on talent, skill, screening
& evaluation human resource department fixed compensation and increment for the employee.
They also work for pay roll and salary structure system of organization. Besides that, Human
Resources Department is sub categorized into some others activities such as recruitment,
selection, compensation, training & development etc.

3. Finance and Accounts: Finance and Accounts Department is deals with all financial
transaction of the company. Their responsibilities are to record, report the cash flow, maintain
regular transaction, accounts receivable and payable etc. This department is also tracing monthly
and yearly revenue of TIFFINBOX.

4. Information Technology: They are responsible for designing and programming the website
and app of TIFFINBOX. And also maintain the database systems; operating systems, embedded
systems etc. IT people works on both software and hardware function. This team also talking
with clients and consumer to assess and define what analysis on consumer experience of
TIFFINBOX or system is needed, which means there are a lot of interaction as well as full-on
technical work. Information technology always researches on how to create the app & the
website more users friendly.

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5. Customer Support: This support group always wants to give the best service to their
customers. This department always deals with each and every query of clients and consumer as
well as interacts with a company’s customers to provide them with information to address
inquiries regarding our services. They always try to help & resolve any customer complaints. For
example, customer support department assist customer to opening an account and help them to
resolve a problem if they cannot access their account/app or if their order never placed on our
system. Recently TIFFINBOX introduce a panel for customer support which makes their work
easier as that panel is fully automated so that customer support no need to call for conforming
the order. We create link between housewives & our customer, both of them are our customer,
we play role of intermediary between them. Both of them have app & account.

6. Operation and logistics: The responsibility of operation and logistic department are
monitoring and coordinating the supply chain operation. In addition, they are responsible for all
regular and corporate delivery systems as well as look after the day to day logistic and inventory
calculation. For ensuring satisfaction they communicate with suppliers and customers.

TIFFINBOX Hierarchy Organogram From the beginning of the journey on 2020, TIFFINBOX
want to grow a lot & earn huge amount of profit from this business.

TIFFINBOX started their operation in Dhaka city. TIFFINBOX has all total 400+ riders inside
Dhaka city. In future TIFFINBOX wants to welcome a lot of restaurants to collaborate with
TIFFINBOX and onboard since they started the journey recently. A simple hierarchy description
is shown in the figure below:

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 Management Team
It is mainly human resource planning of the organization. Every organization has a management
team for implementing the total business plan of the organization. Strong management team
gives a model quick reliability to outside investors, experience & market specific knowledge in
implementing business plan. A strong management team may not be able to salvage a weak
business model, but the team should be able to change the model & redefine the business as it
becomes necessary. It also describes the background & working experience of a candidate for
specific position of the job. We also have a management team for run our business smoothly and
properly which discussions are given below:

For managing director position, we prefer higher degree from abroad, Post-graduation degree or
PHD, no third division will be acceptable in academic level, organizational, leadership,
interpersonal, presentation, excellent communication, computer skill, analytical & problem-
solving abilities, age not over 50 years & 15 years working experience are needed.

For working in business development team, we accept Master’s degree in any major or
marketing, strategic planning, critical, problem solving skill, business & finance understanding
and 2 years working experience. For executive position Master’s may be preferable, but we also
accept Bachelor degree and 1 years of experience are required.

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For working in human resource & talent management department in senior executive position we
prefer Masters in HRM or PGDHRM or other HR related higher degree and 2 years working
experience. For executive position BBA or Honors in HRM and also 1.5 years’ experience are
needed.

For Finance & Accounts department in senior executive position we prefer ACMA, ACCA,
Masters in Finance or Accounting and 3 years working experience. For executive position MBA
is preferable but we also accept Bachelor degree in Finance & Accounting/AIS and also 2 years’
experience in relative field are required.

For working in IT department of TIFFINBOX in senior executive position a computer science or

software engineering or related higher or Master’s degree & 2 years working experience are
needed. In case of executive position in information technology department minimum bachelor
degree in CSE or IT and 1 year working experience in related field are required.

In customer support department of TIFFINBOX for the position of senior executive we accept
MBA in Customer Relationship Management or Customer Service, Marketing and working
experience in related field, communication & problem solving skill are needed. For executive
position BA in Customer Service or Bachelor in Marketing, critical thinking, problem solving,
communication, computer skill and also 1 year experience in customer support or service area
are needed.

For working in operation & logistic department of TIFFINBOX in senior executive position we
prefer Masters in Supply Chain management or logistic & operation Management and also 1.5
years of working experience. For executive position Masters is preferable but Bachelor in
Operation Management or Supply Chain Management and working experience are required.

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 Conclusion
Tiffin Box is a box which will not only contain the food. It will carry the dreams of being self-
dependent of every house maker of the city. It will remove the fair of every mother who are
worrying about what their children are eating while they are in work. And as now a days the
biological viruses are attacking in our lives where hygiene is the only way to be safe and we
know home foods are the most hygienic food. Means Tiffin box will accomplish the dreams and
will save the life.

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