ECO561 Business Proposal
Business Proposal
ECO/561
September 10, 2013
Basil Al-Hashimi
Business Proposal
An inventor named Will Bury who whole-heartedly believes that readers of all ages will be listening or reading books on digital devices. The transition from hard copy books could be an invention that changes how the people of the world purchase these types of goods. Bury is aware that currently, these same books are available on compact discs, but he believes that these are an expensive purchase for consumers. He also believes that costs can be cut by having the digital device translate the books instead of having to hire humans to translate the book to a compact disc. The only thing that may cause some conflict in his idea is that when a digital device translates a book, it could sound digitized and readers or listeners may not adapt to the sound as easily as a human voice. Bury has thought this process through and has invented and patented technology that allows the digital device to take the printed text and develop a file that has an option for the reader to listen to a digital voice or listen to a synthetic human voice. Bury’s research has shown that he and his company have access to free books that are no longer under copyright safeguard. For those books that are still under copyright protection, he believes that paying a five dollar royalty fee for each of those titles will increase the catalogue choices for his customers. At this time, he has chosen to limit his selection to English language choices but his goal is to continue working towards multiple language translations that will provide better options for his customers that speak alternate languages. The following business proposal will assist Bury in improving his current product. Economic analysis of the new product will further define what would be necessary for the product to enter the market and be successful. The subjects to be outlined are as follows: profit-maximizing, increasing revenue, marginal
ECO/561
September 10, 2013
Basil Al-Hashimi
Business Proposal
An inventor named Will Bury who whole-heartedly believes that readers of all ages will be listening or reading books on digital devices. The transition from hard copy books could be an invention that changes how the people of the world purchase these types of goods. Bury is aware that currently, these same books are available on compact discs, but he believes that these are an expensive purchase for consumers. He also believes that costs can be cut by having the digital device translate the books instead of having to hire humans to translate the book to a compact disc. The only thing that may cause some conflict in his idea is that when a digital device translates a book, it could sound digitized and readers or listeners may not adapt to the sound as easily as a human voice. Bury has thought this process through and has invented and patented technology that allows the digital device to take the printed text and develop a file that has an option for the reader to listen to a digital voice or listen to a synthetic human voice. Bury’s research has shown that he and his company have access to free books that are no longer under copyright safeguard. For those books that are still under copyright protection, he believes that paying a five dollar royalty fee for each of those titles will increase the catalogue choices for his customers. At this time, he has chosen to limit his selection to English language choices but his goal is to continue working towards multiple language translations that will provide better options for his customers that speak alternate languages. The following business proposal will assist Bury in improving his current product. Economic analysis of the new product will further define what would be necessary for the product to enter the market and be successful. The subjects to be outlined are as follows: profit-maximizing, increasing revenue, marginal
References: McConnell, C. R, Brue, S. L., & Flynn, S. M. (2009). Economics: Principals, Problems, and Policies. Retrieved from http://ecampus.phoenix.edu/content/EbookLibrary2/content/eReader.Sapx.