HUM100 Study Guide - John Jacob Loeb, Ruby Slippers, Redd Evans

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caitlyndavis2

17 Jan 2023

School

Southern New Hampshire University

Department

Humanities

Course

HUM100

Professor

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Document Summary

I chose two cultural works from the smithsonian museum from the art and culture collection. The first one is dorothy"s ruby slippers (http://n2t. net/ark:/65665/ng49ca746a4-d41e-704b- e053-15f76fa0b4fa) i chose these because as a little girl my favorite movie was the wizard of. I even dressed as dorothy for halloween two years in a row and my mama still to this day has my costume and the red glittery slippers in her closet. The wizard of oz was produced in: this film was a notable change for filmmaking because this movie was famous for technicolor which switches scenes in the film from color to black and white throughout the entire film. During the 1940s hundreds of those sorts of films were made. Technology has come a long way since then and has changed the film industry from the ways movies are made to the way they are edited and even the ways the audience views them.

Related Questions

Analysis of perfect world competition strategy and contribution of technology to trade

I. Analysis of the strategic competition of the perfect world enterprise

1. Perfect World Film and Television Product Competition Strategy

First of all, in the domestic market, the strategy of perfect world film and television is a diversification strategy. Focus on decentralized investments, including TV dramas, movies, and variety shows. His works satisfy the needs of the audience and are full of positive energy. Therefore, he won the Five One Project of the Central Propaganda Department and the Flying Award of the Chinese TV series, which made the perfect world gain a good reputation in the industry and benefit the long-term business. development of. At the same time, further expand to invest in the production of high-quality variety shows, such as "Extreme Challenge", "cross-border song king", "cross-border comedy king" and so on.

Perfect World Film and Television utilizes the Blue Ocean Strategy to invest in the small-cost film market, investing in "Steel's Piano", "Love for Love 33 Days", "Watching the Wind", "Let's Get Married", "Extraordinary Tasks", "Carnival" Other films, including "Love for Love 33 Days", became the biggest box office dark horse in the 2011 movie market with excellent box office results.

Secondly, in the international market, the perfect world film and television strategy is a pan-entertainment strategy layout, and further to the internationalization of film and television. Not only has it entered into a single investment and strategic cooperation agreement with Universal Pictures, a famous Hollywood company, but also introduced many foreign films to the Chinese market. The domestic market environment is fiercely competitive, and the perfect world film and television highlights. In the cooperation film list, there are many famous masterpieces: "Too Dark Time", "Phantom Shadow Sewing". In 2017, Perfect World Television entered the Jiaxing Media and led the new round of D-round financing, expansion, and established the perfect Weixiu Entertainment Group.

Summarize the competitive strategy of perfect world film and television. By leveraging the vigorous development of China's cultural industry, based on the cultural boutique strategy, using the influence of brand reputation, and improving the scale, intensification and specialization of the cultural industry, it is a global entertainment company with long-term influence.

II.The contribution of technology to trade

1. The relationship and contribution of technology and trade

First, according to the theory of comparative advantage, the difference in relative costs creates the basis for trade between the two countries. The emergence and development of technology have led to a gap in the production efficiency of products with a small cost gap, which has created a huge cost gap, which has prompted technologically advanced countries to export cheaper products to backward countries, and technology has promoted the expansion of trade scale.

Secondly, the development of international trade has led to the export of many technologies. According to the product life cycle theory, technology in developed countries will be iterated after the maturity period, and the original technology shows a trend of transition to developing countries to obtain more marginal profits. As a result, technology has flowed from the producing countries, and the producing countries have acquired new technologies, and developing countries have thus acquired technology that they cannot develop in their own countries for production. Overall, this has increased the welfare level of countries, reduced the cost of exports, and expanded the scale of trade between countries in the long run.

2.The promotion of technology in the perfect world of film and television

As mentioned above, Perfect World Film and Television has adopted a diversified strategy and reached strategic cooperation with Universal Studios of Hollywood. Both parties will benefit from this. For Universal Pictures, exporting its mature shooting technology to the perfect world, you can use the cheaper labour costs and fixed costs in China to get quality-assured films. For the perfect world, the mature technology of the world can be Helping them to complete the filming of the film better, and also gain a higher profit from the film export. Therefore, the export of film and television technology has promoted the film and television trade between China and the United States.

byzantiumox570

1- I need to use "in-text" citations throughout the body of yourpaper to give credit to your sources.

2- here is my paper. help me out please:

This paper is going to talk about Ford motor company who becomeone of the largest automakers. For example, in this paper I willshow and outline some points of how Ford operates in the automobileindustry. However, Ford has some strong competitors in the U.Smarket and internationally. The implementation of new technologiesaffected a lot of the way vehicles were manufactured. In that casethe automobile industry is coordinated to be an industrialproduction system. This paper will start with a short descriptionof the history of Ford. This brief summary will include someinformation background of where Ford started in thebeginning.
Keywords: U.S market, automakers.
The company I have chosen to do my research paper is Ford. Here isa brief history of the company. The creator of that company isHenry Ford. One of America's foremost industrialists, Henry Fordrevolutionized assembly-line modes of production for theautomobile. Born on July 30,1863, near Dearborn, Michigan,at theage of 16, Ford left home to take an apprenticeship as a machinistin Detroit. In the years that followed, he would learn toskillfully operate and service steam engines, and would also studybookkeeping. In 1896, Henry Ford buildt the Quadricyle. In 1903,Henry Ford established the Ford Motor Company.

History of the company
Ford introduced the model T in October of 1908, and for severalyears, the company posted 100 percent gains. However, more than forhis profits, Ford became renowned for his revolutionary vision: themanufacture of an inexpensive automobile made by skilled workerswho earn steady wages. As a result, Ford sold millions of cars andbecame a world-famous company head. The company lost its marketdominance but had lasting impact on other technological developmentand U.S infrastructure. To end up, Henry Ford died of a cerebralhemorrhage on April 7, 1947, at the age of 83, near his Dearbornestate,Fair lane. Ford, considered one of America's leadingbusinessmen is credited today for helping to build America'seconomy during the nation's vulnerable early years. The Ford MotorCompany was founded by Henry Ford in the year 1903. It is theleader in the car manufacturing segment for a long time now. Fordhad introduced a unique manufacturing programs which werereplicated by many firms and the concept designed by Ford startedto be called as Fordism. The major competitions for Ford wereToyota, Honda and Hyundai. Especially Toyota which had taken therank of number 2 from Ford in the US market. Ford is renowned forits Operation Management techniques around the world.

The companyâs industry
The Ford company's fiscal year ending for the last two years; Fordgot $135.8 billion during the period of 2014-2013 in the area ofAutomotive Revenue. Ford company's sales has increased by $4.8billion the next year of 2015 compared to 2014. In general terms ofAutomotive sector in 2015 has an increase in operation margins from4.6% to 6.8%, also for operating ârelated cash flow goes from $ 1.9to $3.6 billion. The company's Annual report shows an increase inall sectors in 2015 compared to 2014. This incredible results isdue to Ford operates a revolution in term of production. Thoseproduction assembly lines became one of the largest automakers. Forexample, Ford has more than 65 plants worldwide.
The Ford company's industry is all about the cars and the enginemotors inside each car. The vision of the motor company is everyoneis working together to make people's lives better throughautomotive and mobility leadership. The Ford company's products aremade in USA and people are proud of it. The industry that Ford isin has a conduct of ethics to respect for their clients such asquality, safety, green sustainability and smart product. Forexample, in the automotive industry Ford is using 3D printing torevolution the automotive prototyping process. You can see a lot ofcars manufactured by Ford are on the road. For instance, body ofwork is the F-150 has been the best selling in the United Statesfor the last 32 years now .

The Ford company's primary source of revenue is sellingautomobiles in the US market and the secondary is selling in theWestern European countries. As I said previously an example of topsale for Ford is the F-150 who is the leader in the market about 32years now. Yes the F-150 has been for 32 years now the bulk ofFord's revenue in term of pick-up vehicle sold. Here are somecompetitors such as General Motors company and Toyota Motorcorporation. As the whole industry is profitable or not. It isdepend on manufacturing efficiency, product quality and effectivemarketing.

Accounting system
Ford uses a standard costing system that a manufacturer'sinventories and costs of goal sold will begin with amountsreflecting the standard costs, not the actual costs, of a product.Manufacturers of course, still have to pay the actual costs. As aresult there are almost always differences between the actual costsand the standard costs, and those differences are known asvariances.
It is typically considered as Direct Labor if the cost of the workeffort physically converts to material to a product. The worker whoactually assembles the components (circuit board, buttons, screenand case) into a finished product such as a car model would be"direct labor"
Direct materials are tangible components of a product. They can beeasily, conveniently and economically traced directly to thefinished product. Some specific direct materials used by Ford inthe production of their vehicles will be the steel include in anautomobile. The circuit board included in a radio. The glassmaterials for the windows of their vehicles.
Overhead costs are considered fixed costs, that is, they do notrise or fall directly with the cost of goods sold. Overhead costsare important to monitor and control. Since they are not directlyrelated to revenues, they can become a larger share of the totalexpenses and burden a company, soaking up net income and profits.Here are some of the specific overhead costs that Ford has like theelectricity used to operate the factory equipment and the building.Also, overhead costs can be linked with all the expenses recordedon the income statement such as administrative overhead.
Variable costs; for Ford would be an increase in or continuedvolatility of fuel prices, or reduced availability of fuel. Anincrease in fuel prices, continued price volatility, or reducedavailability of fuel, particularly in the United States, couldresult in weakening of demand for relatively more-profitable largecars, utilities, and trucks, while increasing demand for relativelyless- profitable small vehicles. Continuation or acceleration ofsuch a trend beyond our the company's current planning assumption,or volatility in demand across segments, could have a substantialadverse effect on our financial condition and results ofoperations. Since the sales increased there will be an increase inthe direct materials to manufacture the vehicles. Based on thecosts of manufacturing my estimates of these variable costs arecommissions and production supplies. Due to the sale increase,salespeople are paid a commission only if they sell a car.Production supplies is based on the amount of machinery usage suchas the oil used by the machinery. Here the cost depends on theproduction volume of a machine.
Fixed costs; Substantial fixed costs for the company includesubstantial pension and postretirement health care and lifeinsurance liabilities impairing liquidity or financial condition.Ford defined benefit retirement plans in the United States thatcover many of the hourly and salaried employees. The companyprovides pension benefits to non-U.S. employees and retirees,primarily in Europe. In addition, the employer and certain of theirsubsidiaries sponsor plans to provide other postretirement benefits(âOPEBâ) for retired employees (primarily health care and lifeinsurance benefits). These benefit plans impose significantliabilities and additional cash contributions, which could impairin the liquidity. Based on this information my estimates of thesefixed costs are salaries, utilities and insurance. Let start withsalaries which is the amount paid to employees to theirs hoursworked. Secondly, utilities is the cost of electricity, gas, phonesspent by the company. Thirdly, insurance is a periodic charge underan insurance contract(eg. To protect the inventory)

Break-even point in units and in sales dollars
Estimate the companyâs break-even point in units and in salesdollars.
â¢ Break-even points in units=Total fixedcosts/contribution margin per unit
â¢ Break-even point in dollars=Total fixedcosts/contribution margin ratio
Revenues=$100,000
Variable expenses(non-manufacturing costs)= 30,000
Fixed expenses(manufacturing costs, restructuring e.g)=60,000
Net operating income $ 10,000
The contribution Margin (Sales-variable expenses)
$100,000 â 30,000= 70,000
The contribution Margin is 70%
60,000/70%=$85714
The break- even point in sales in dollars $85714

Estimating the companyâs operating leverage for Ford
Operating leverage measures is a companyâs fixed costs as apercentage of its total costs. It is used to evaluate the breakeven point of a business, as well as the likely profit levels onindividual sales.
To calculate operating leverage: contribution margin/net operatingincome
Ford has a contribution margin of 70% and net operating income of$10,000, which gives it a degree of operating leverage of 7.Fordsales then increase by 20%, resulting in the following financialresults:(based on the previous numbers A.)
Revenues
$120,000
Variable expenses
36,000
Fixed expenses
60,000
Net operating income
$24,000

The contribution margin of 70% has stayed the same, and fixedcosts have not changed. Because Fordâs high degree of operatingleverage, the 20% increase in sales translates into a greater thandoubling of its net operating income.

Where break-even and leverage information would be of value tothe company.
Management of Ford should constantly monitor the breakeven point,particularly in regard to the last item noted, in order to reducethe breakeven point whenever possible.
â¢ Outsourcing. If an activity involves afixed cost, consider outsourcing it in order to turn it into aper-unit variable cost, which reduces the breakeven point.
â¢ Pricing. Reduce or eliminate the use ofcoupons or other price reductions, since it increases the breakevenpoint. Also, increase price points whenever this is acceptable tocustomers.
â¢ Cost analysis. Continually review allfixed costs, to see if any can be eliminated. Also review variablecosts to see if they can be eliminated, since doing so increasesmargins and reduces the breakeven point.
â¢ Margin analysis. Pay close attention toproduct margins, and push sales of the highest-margin items, toreduce the breakeven point.
When using the operating leverage measurement, constant monitoringof operating leverage is more important for a firm having highoperating leverage, since a small percentage change in sales canresult in a dramatic increase (or decrease) in profits. A firm mustbe especially careful to forecast its revenues carefully in suchsituations, since a small forecasting error translates into muchlarger errors in both net income and cash flows. Knowledge of thelevel of operating leverage can have a profound impact on pricingpolicy, since a company with a large amount of operating leveragemust be careful not to set its prices so low that it can nevergenerate enough contribution margin to fully offset its fixedcosts.( specially in other markets such as China)

Inventory system
Ford uses a perpetual inventory system. This is an approach whereinventory accounting is updated continuously as transactions aremade. The company uses that system because the computer system earntime and do the job by tracking every products get going into theinventory and his is very accurate and really close to the realinventory. Nowadays, big companies like Ford can afford to co-workwith computer systems to help them to earn time in their inventory.On the other hand small company business does not need to have anelectronic-tracking system because their using a periodic systeminventory which is the most common used in that case.
Basically, the company uses this sophisticated system because thetechnology evolved during time but before all companies rely on theperiodic system where you have physical count every product to havea track of your inventory. For example, cost assignment to cost ofgoods sold and ending inventory are designed in the end of anaccounting period. However, a perpetual inventory system includes apoint-of-sale system which drives changes in the inventory levels.For instance, you can have a decrease in window product, so cost ofsales is decreasing too but the sale is made increased.The resultthis systems will help to manage the inventory levels and if thecompany needs to purchase some additional inventory, they can.There is another advantage for the accountant. The accountant doesnot have to adjusted manually but the company is not protectedabout the loss( breakage or theft)
There areseveral methods used in accounting such as FIFO (first in, firstout) or LIFO (last in, first out).For example, consider Fordstocking the cars in the showroom, where a customer purchases theitem in front. The oldest car manufacturing will always be soldfirst. As the transactions is occured, the perpetual inventorysystem will automatically been updated too. Under the perpetualLIFO the daily interaction throughout a reporting period. The costcan change at any time because items are sold could vary throughoutthe period due to the set of cost layers.
An effective cost management system is one that aims at minimizingcost in such a manner that it allows for a sufficient margin perunit of product.Through curtailing unnecessary costs &incurring costs to such a level that anything below that seemsunviable and not feasible to the production process. By making thatcost almost indispensable to the production of the budgetedquantities. This will not only improve the profitability but alsoincrease the competitiveness of a company. Yes, Ford has aneffective cost management because in the domestic market Ford isstill the leader and in the internationally Ford is growingincrease each years.Also this company has some strengthstrong managerial accounting that make me think that.This company uses as a base for computing prospective cost andresultant price of a product.In terms of strength it is totallyflexible and hence, can be revised any number of times in keepingwith the ongoing economic scenario(fluctuations of the price of thedirect material e.g).

REFERENCES

Schmiedicke, R. E., & Nagy, C. F. (1978). Principles of costaccounting. Cincinnati: South-Western Pub.
!industry_name! - Industry Facts and Trends. (n.d.). RetrievedNovember 30, 2016, fromhttp://www.hoovers.com/industry-facts.automobile-manufacturing.1019.html
Ford, H. (2008). My life and work: An autobiography of Henry Ford.Place of publication not identified: BN Publishing.
Home. (n.d.). Retrieved November 30, 2016, fromhttp://corporate.ford.com/homepage.html
Build & Price. (n.d.). Retrieved November 30, 2016, fromhttp://www.ford.com/

aquamarinearmadillo465

According to the information below please answer the following questions:

ENTR 187 Business Plan App Translator

Industry Analysis

INDUSTRY SIZE

When you talk into your phone in any of the Worldâs major languages there is a suite of applications that can turn your words into a foreign language, either in text or electronic form. Mobile translation helps get rid of barriers worldwide. The top current mobile translation apps available for both iOS and Android are Google Translate, iTranslate Voice, SayHi, WayGo, and TripLingo. In addition to apps, there are two new devices that will translate in live time. The user speaks in their native tongue and the device will output the desired target language. These devices are The ili and The Pilot.

Industry at a Glance

The statistics above are listed from 2016. The industry that we have decided to incorporate our product into is âSpeech and Voice Recognition Software Development.â The entire Industry saw Revenue of almost $25 Billion USD. In total, there is over 900 companies involved in the industry.

The biggest company involved is Nuance Communications Inc. which holds a 2.1% market share of the industry. After Nuance Communications Inc., the next biggest company involved is Google Inc. Google participates in the industry through its development of voice and speech recognition software for mobile and online services. This includes the âGoogle Translateâ app available for any mobile device. Current market share data is not available. Apple is another World renowned company involved in the industry through their Siri services. Siri is available in 40 dialects of several different languages.

Industry Growth Rate and Sales Projections

The industry has been steadily growing over the past decade averaging an 8% growth rate in terms of revenue. Through 2021, annualized revenue growth is supposed to grow at a rate of 7%. The industry continues to grow as the widespread adoption of mobile phones continues to grow. The number of mobile internet connections is expected to surpass 331 million in the year 2021. Not every cellphone user actually needs a mobile translation app. However, as the demand for Speech and Voice Recognition Software continues to rise. The apps available on the market will continue to improve.

The potential rise of wearable smartwatches and other smart appliances is also expected to bring about growth opportunities in the industry. Speech and Voice Recognition Software is being implemented into these devices now and will continue in the future. Language is processed by machines as data. Machines are indiscriminate towards what languages they can handle. As long as data is being captured by devices, the software will improve in the future.

The industry is broken up into products and services. 50% of the industry is dedicated to PCs and Macs (such as Rosetta Stone) the other half of the industry is for Mobile devices and Automobiles. The Auto industry doesnât necessarily use translators but they still use Voice Recognition Software.

Nature of Participants

In 2017, mobile apps have now became a key piece to a new way of doing business, a new way of communicating, and simply a new way of conducting life on a day to day basis. With the Play and App store housing hundreds of thousands of apps, competition remains very innovative as more and more developers (or developer studios, who provide application development for third party companies, entrepreneurs and so forth) continue to flood the market with free or purchasable applications. Also, with the vast changes in technology, the app has crossed over from the smart phone over to televisions, media players, and cars, allowing the app industry evolve into a broader economy. With that said, this plays into the ability for more doorways for different creative purposes that apps can be used for. As with every form of technology, what we thought apps were capable of just 5 years ago have soared way beyond those capabilities today.

Key Success Factors

There are many success factors that we have taken into consideration to assure that our product meets its highest potential. The number one factor should always be the experience that the customer receives from the product. Therefore, we will provide users a very friendly and easy-to-use interface, keeping it simple, while making sure that the features give them a complete and total experience so not one need is left unaddressed or unattended to. Focus groups will be conducted even after launch, to allow the customer experience to not only be the best it can be, but to also evolve that experience over time, keeping the app and its content and functions relevant to the users.

Secondly, the app will be universal for all mobile devices, including iOS and Android. The app will be able to function on all mobile devices, tablets, chromebooks, smartwatches, and any other portable smart device.

Third, we will provide easily accessible customer service and reliability. Our support team will be available seven days a week by either phone or via live chat. Updates and maintenance will keep content fresh and any back end issues at bay.

Compatibility: Our app will be compatible with other apps and programs, allowing the user to easily share, store and access files outside of the app itself. Files can be shared via bluetooth, email, NFC technology, text message and social media. Files can be converted to wav. and mp3 format.

INDUSTRY TRENDS

-Business Trends

-According to smashingmagazine.com, consumers are evolving more rapidly than businesses. Today, the mobile Internet has clearly become a necessity for many users.

-According to App Annie reports, in 2015, the mobile app industry generated a whopping $41.1 billion in gross annual revenue and that this figure will rise to $50.9 billion

-According to Statista, a Windows Phone app fetches $11,400 on average per month, whereas iOS app generates $8,100. Android makes $4,900 in average monthly revenue

-According to Smashingmagazine.com, the subscription app model generates predictable, long-term revenue flow for the owner by keeping customer loyalty high.

-According to techcrunch.com, in 2016, worldwide downloads were up 15 percent year-over-year, time spent in apps was up 25 percent, and the revenue paid to developers increased by 40 percent.

Long Term Prospects

In the short-term, our success will tie into the success of the app market as it stands today. The same industry growth and advancement in technology will also be key for our long-term success. During our first year we will see success through free user downloads, building revenue through advertising. Subscription use will build towards the end of year one and continue to double as more revenue that is brought in through advertising, will then be used for marketing purchases, growing our impressions and gaining more and more subscription members.

-Growing Millennial population

-Growing percentage of individuals that own mobile smart phones or smart devices

-Growing percentage of travelers worldwide

-Advances in technology will continue to evolve the functions and features of the app

-Build on residual revenue through long-term subscribers

Company Description

History

The translation of natural languages by machine, first dreamt of in the seventeenth century, has become a reality in the late twentieth. Computer programs are producing translations - not perfect translations, for that is an ideal to which no human translator can aspire; nor translations of literary texts, for the subtleties and nuances of poetry are beyond computational analysis; but translations of technical manuals, scientific documents, commercial prospectuses, administrative memoranda, medical reports.Machine translation is not primarily an area of abstract intellectual inquiry but the application of computer and language sciences to the development of systems answering practical needs. After an outline of basic features, the history of machine translation is traced from the pioneers and early systems of the 1950s and 1960s, the impact of the ALPAC report in the mid-1960s, the revival in the 1970s, the appearance of commercial and operational systems in the 1980s, research during the 1980s, new developments in research in the 1990s, and the growing use of systems in the past decade.

A translation system allowing the Japanese to exchange conversations with foreign nationals through mobile phones was first developed in 1999 by the Advanced Telecommunications Research Institute International-Interpreting Telecommunications Research Laboratories, based in Kansai Science City, Japan. Words spoken into the mobile device are translated into the target language and then sent as voice to the other user's mobile phone. Machine translation software for handheld devices featuring translation capabilities for user-input text, SMS and email, was commercially released in 2004 by Transclick and a patent was issued to Transclick for SMS, email and IM translation in 2006.

In November 2005, another Japanese company, NEC Corporation, announced the development of a translation system that could be loaded in mobile phones. This mobile translation system could recognize 50,000 Japanese words and 30,000 English words, and could be used for simple translations when travelling. However, it was not until January 2009 that NEC Corporation officially demonstrated their product. Technological advances within the miniaturization of computing and communication devices have made possible the usage of mobile telephones in language learning. Among the early projects were the Spanish study programs which included vocabulary practice, quizzes, and word and phrase translations.

Soon after, projects were developed using mobile phones to teach English at a Japanese university. By 2005, they shifted their focus to providing vocabulary instruction by SMS. A similar program was created for learning Italian in Australia. Vocabulary phrases, quizzes, and short sentences were sent via SMS.

Now, Google Translate is the online translation leader. See also Info scope, which is a handheld device composed of a digital camera and wireless internet access, developed at IBM's Almaden Research Center. As well as Duolingo application has been develop to not only translate but also teach the consumers of today to read, write and speak the language, and finally the LLI has been introduced.

The ili is a new innovative technology that helps business professionals or travelers to communicate with other cultures, by simply by the push of a button. It allows the consumer to speak into the device and it will project it back in whatever language chosen by the consumer.

Mission Statement:

Striving to continually improve the language translation services by bringing convenience, quickness, ease, quality and reliability to our customers while bridging language barriers and bringing people with different languages together.

Product and Services

Consumers of today are now more interested in the new high tech gadgets, yet more than anything consumers are obsessed with their mobile device. And in now a dayâs millennials are the consumer taking the initiative to be more diverse and have more experiences in life. Thatâs why we believe that combining both the ili translator and duolingo into one app would be the perfect product for the everyday person of today.

By combining both products, the app can be used in an everyday setting or in a professional setting. It will allow professionals to converse with clients from around the globe in a more personable level. And it will allow the everyday person to become more diverse and intuitive in more cultures.

The app will give the consumer the ability to understand another language, by having it translated directly back to the consumerâs language and vice versa. It will allow different cultures to communicate with one another. It will not only allow consumers of different culture to communicate with one another but it will also allow consumers to learn a new language. Each app will have a minimum of 3 free languages that will allow you to translate or will allow you to learn the language. Learning the language is taken from the aspect of duolingo, by having consumers learn how to read, write, and speak different languages by different game levels and educational readings. And every time, a consumer wishes to learn different languages they will have the ability to purchase more upgrades which will offer such languages.

Current Status and Ownership: We are a Partnership as there are five partners in ownership who are personally liable for all business debts.

Legal Status and Ownership

Key Partnerships: None at this time.

Market Analysis

Market Segmentation and Target Market Selection: This App translator will be an innovative tool in the travel and the translation industry. The market segment the app will target will be the younger generations such as the millennials, which is considered to consist people within the ages of 16-34. One reason why the app should target the younger generations is because they are more interested in traveling abroad than the older generations. The United Nations estimates that this demographic of the younger generation generates more than $180 billion in annual tourism revenue, which is an increase of nearly 30 percent since 2007. The American Express Business Insights also stated that millennials are the fastest growing age segment in terms of money spent on travel. Millennials are also considered to be always connected to the internet with mobile devices and continuously on the move. Millennials do not spend their vacations similar to the older generation on the beach but they tend to spend their time traveling through cities and getting to know the country they are in. These factors of the younger generations traveling more, different way of traveling and an increase in spending while traveling are the textbook conditions for the App translator. Younger people always have their smart phones on them which is why it will be easier for younger people to have translation through an app instead of getting a translator or carrying an extra device. Since younger people like to travel in cities and immerse themselves in the culture, it is again just much simpler and more accessible to have their translation service on their phones.

Buyer Behavior:

Millennials have a lot of influence over older generations and are trendsetters across most of the industries from food to fashion. For millennials reviews of a product from friends and other like-minded people carry a lot of weight. Which means that if people from a certain group do not like the product than other people in that same group are less likely to buy the product. The fear of debt has been instilled in millennials because of student loan debt and the soft job market. This fear has led less and less millennials to purchase using credit cards and going into debt, which why is a recent Bankrate study revealed that over 65% of millennials donât even have a credit card. That is why millennials try to save up to make the purchase with cash or debit. This does not mean that millennials are buying less, it just means that they are finding alternative ways of purchasing. An example of a different way of purchasing that millennials are doing is financing, this allows them to buy an item now and spread out their payments over several months. One of the best ways to see the buying behaviors of millennials is to watch the social media outlets. Research shows that 81% of millennials are on Facebook, and they also check their social media apps on their mobile devices around 43 times a day. An example of how social media is working well for consumers is popular unboxing videos on YouTube, where an individual films the process of unpacking new products and letting viewers know what they can expect from the product when they purchase it. Most business miss with some of their products because the products did not have innovation with purpose. This means that millennials are more likely to try new products but only if the new product makes their lives easier in some way.

Competitor Analysis:

Currently there is no product like this in the market, that utilizes an app to translate as smoothly as device that translate in live time. A person can use google translate, iTranslate Voice, SayHi, WayGo and TripLingo, but they are not as smooth/accurate. The product that is closest to the app translator would be âiliâ and this product has not even been released yet, it is set to be released this year. âiliâ offers the users real time translation by speaking into a handheld device in 0.2 seconds; but the drawbacks are that you have to purchase and extra device and also that it can only support three languages on one device for different languages a consumer would need to buy an another âiliâ device. The reason why there are no real competitors for the app translator is because the app translator will be combining real time translation of âiliâ and language teaching capabilities of Duolingo and Rosetta Stone.

Estimates of Annual Sales and Market Share:

Looking at the trend of the rapidly growing app usage we can assume that more people are likely to download the app than carry an extra device that will help with the translation. Not just the technological part but the entire translation industry is very fragmented; which means there are a lot of firms providing either regular translators or devices/apps to help with translation.The market of the translation industry is expected to grow to $37 billion by 2018. Since the market is highly fragmented it is hard to tell how much of the market is allocated to each of the firms. Which is why we can only estimate that we will attain around 5-10% of the market share in the first couple of years. We can estimate that we can get at least 40 customers a month but the goal is to try to reach at least 50 a month on the first couple of months. Most of the assumptions are based on estimations because there is relatively no data on how the market share is distributed in this market and what is the expected growth rate for the massive number of firms in the translation market.(Translation, n.d.)

Economics of the business

Revenue Drivers and Profit Margins

In the first twelve months in developing the application, our goal is to convert consumers to the subscription and have a minimum of 50 customers per month with the ad block included. We would be selling the one time subscription fee for $24.99 per customer as well as the one time adblock for $9.99 and the monthly fee would vary and is not included in the table below. In just the subscription fees the App would have 3 language software subscriptions and if the consumer pays more the prices would vary. Our total expenses to begin the business would be $25,080 in the first year including everything from advertising to the manufacturing of the app. In the first year out net income would be at a negative $4,092. In some businesses in order to increase the profit you have to lose money to begin with. At first we might lose some money if you want to look at it but our long term revenue is sure to surpass the net income of the first year.

	*Year*	1	2	3
*Revenues*
	Software Subscription	20,988	35,500	53,500
	Total Revenues	20,988	35,500	53,500
*Expenses*
	Advertising/Marketing	1,500	2,000	3,000
	Attorney Fees	2,000	2,000	2,000
	Employees	10,000	10,000	15,000
	Internet	125	125	125
	License and Permits	375	375	375
	Office Equipment Lease	280	280	280
	Office Space	0	0	0
	Office Supplies	1,000	1,000	1,000
	Phone	200	200	200
	Software Development	5,000	5,000	5,000
	Software Manufacturing	3,000	3,000	3,000
	Technical Maintenance	1,500	1,500	1,500
	Travel/Entertainment	0	0	1,500
	Utilities	0	0	0
	Website/Webhosting	100	100	100

	*Total Expenses*	25,080	25,580	33,080
	*Net income*	-4,092	9920	20420

Fixed and Variable Cost:

The companyâs fixed costs will mainly be Attorney fees, Internet, Licence/Permit fees, Office equipment lease, phone bills, software development, software manufacturing, technical maintenance and web hosting. This is because all of these expenses are expected to stay the same throughout the first couple of years. These costs are expected to stay the same because the company will be relatively new and the expected growth is not exponentially high in the first couple of years. The costs that are variable are the marketing, employee wages, and travel. These costs are the variable cost because these costs can change very fast as the needs of the company change over time, compared to fixed cost which only change after a large effect on the business such as increase in funding or growth over the years forces the company to expand.

Operating Leverage and Its Implications

Operating Leverage

Implications

Start-up Costs:

The company I-lingo will be a brand new business with startup expenses as every other company does. In producing the app, partnering with Doulingo the company will be able to expand on Doulingoâs original application and venture out to a more advanced application. The companyâs total expenses in the first year would be an estimated $25,080. This estimated number was calculated by the estimated amount it would cost to develop the app, the amount of money we would need to pay employees, advertising/marketing, etc. The financial sector of I-lingo found an app develop estimator online that gave us a really rough estimate on where to start our expenses in just producing the app itself, which would have cost us twice as much with an average price of $100K. The estimate of $15,000 to produce the app led us to think of other expenses such as paying employees, licenses, permits, utilities, advertising and etc.

Break-even Chart and Calculation:

I.Marketing Plan:

A.Overall Marketing Strategy

B.Product, Price, Promotion, and Distribution

C.Sales Process (or Cycle)

D.Sales Tactics

Proprietary Issues:

The company will have to get a patent on the way app delivers the translation at a fast and accurate pace, because the technology that will be used in the app will be new and innovative in that field. The type of patent the company will need to get will be a utility patent from the US Patent and Trademark Office, this is because a utility patent covers the creation of a new improved/useful product, process/machine. After filing for the utility patent the company will be able to hold the patent in the United States for up to 20 years.

The name of the company ilingo will be trademarked in order to create an exclusive identity of the companyâs product/services and the recognition of the companyâs ownership of the brand. To file a for a trademark in the United States the company will have to file with the US Patent and Trademark Office. The trademark in the US will be renewable every 10 years as long the the company remains the use of the name.

The other licenses that the company ilingo will need to acquire will be patents and trademarks in other countries around the world. Since ilingo will be a new startup it would not make sense to start applying for patents and trademarks in other countries in the first couple of years. However, when ilingo gets a large enough customer base in the United States and it is considering marketing to potential customers in other countries ilingo will need to secure their intellectual property in other countries at that point.

Operations Plan

General Approach to Operations

Day to day operations will mainly consist of back stage activities, as our tangible capital will remain very limited. The five founders provide sound and efficient staffing for maintaining business needs as well as customer demands.

-Labor: There is currently no need to operate outside of the five founders, which will keep labor costs down and keep activities within day to day operations very close-knit. Future planned marketing campaigns may consist of volunteers or interns, in attempts to spread awareness of our brand and product. Small incentive programs may become available, as in a free 3 month membership to our app, but all interns will be cost free and 100% volunteer work.

-Roles of the 5 founders:

-CEO:

Remain focused on people, product, and market.

Brand management and increase market credibility.

Maintaining relationships with partners and investors.

-COO:

-Designing and implementing business strategies, plans and procedures.

-Establishing policies that promote company culture and vision.

-Overseeing operations of the company and the work of executives (IT, Marketing, Sales, Finance etc.).

-Evaluate performance by analyzing and interpreting data and metrics

-Write and submit reports to the CEO in all matters of importance

-Assist CEO in fundraising ventures

-Participate in expansion activities (investments, acquisitions, corporate alliances etc.)

-Manage relationships with partners/vendors

-CFO (CTO):

-All financial overseeing will be done in house, but the more important role of the CFO related to day to day operations is their duty as the head of Technology. The CFO lead the development of the app, and will continue to work as our IT and technical support, and will work directly with customer inquiries, and pushing through timely updates for the app.

-CMO:

-Evolve product for consistent market fit, adapt to market changes.

-Continually collect new data to test changing demand.

-Track customer acquisitions and lifecycle to improve and expand demand.

-Work directly with advertising partners, building outside relationships.

-Works directly with CFO/CTO on maintaining image and brand.

-Builds new partnerships to increase and expand target market, customer use, and customer engagement by creating new marketing channels worldwide.

-CHO (Head of HR): Not applicable at this time.

- Materials and equipment: All materials and equipment will be personally funded and incur zero cost to the company.

Business Location/Facilities

A key element of keeping costs down with more flexibility to maintain profits is that there are no overhead costs for business location. All business will be operated out of in house facilities that will not incur any fixed or variable costs. If any costs are involved in the area of location, these costs will be personal costs and will not fall under the companyâs finances. Ultimately, much of our operations could take place in any facility that has basic internet and wifi access.

Section VIII: Design and Development Plan

CURRENT STATUS:

Our product is currently under development by our information systems engineers and our software development engineers. The app will use the GNMT data base. The GNMT database is owned and powered by Google. GNMT stands for Google Neural Machine Translation system. It essentially takes into consideration source words and phrases, but also broader contexts of where they appear in sentences, and what are the other words and phrases around them.

For example, when translating Spanish-English, French-English, we are able to then code the system from translations of pairs it has not seen before. It is a self-learning algorithm. The database will then âlearnâ how to translate between French-Spanish by using the base language of English.

Our Company is partnering with Nuance Communications to help develop our translation software. Nuance focuses on server and client side speech recognition. They have helped companies such as, Apple, when they came out with Siri.

Similar to Siri, we need our product to be able to combine speech recognition with advanced natural-language processing. The hardest part about this process is normally translators require an internet connection, which allows the client to connect to the server. We want to change the game by storing the base language and the target language directly on the client for faster translation. The amazing part about not needing an internet connection is that our users will be able to go to rural vacation destinations and assimilate with the natives of that country.

CHALLENGES AND RISKS:

The team is working diligently to introduce the product into the market. We need more funding for our software development and overall costs. Creating an application that can be independent of an internet connection is very expensive. However, we are not paying ourselves a salary until we become profitable.

1.What Are the legal status and ownership process to this new app?

2.What would be the ideal operating leverage and its implications?

3. What is the desired profit margin?

4. what are the sources and uses pf funds statement?

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