Please describe the most important problem you are going to solve or the opportunity on which you can capitalize by innovating your company’s business model:?

Describe which components of your business model would need to change to implement your innovation?

Answer:

Increasing the use of technology has changed our lifestyles and our company is an electrical operational switch manufacturing company for residential use but recently we analyzed the opportunities of smart homes or home automation technology that rapidly popularised in the market. Our organization is planning innovative home automation technology that can be fit on home existing wiring pattern and wire and board can be the same only we can give panel as per the modular box design that innovation can change of our business process and increase the market values.

We are working in three features like operation through Bluetooth, Wifi, and with help of remote that can control entire light, fan, AC, curtain, gate, and all the home equipment over the smartphones. Users can control entire home equipment, light, fan, AC with the help of smartphones.

The component of my existing business model needs to change as we must work on applications, targeted customers can be luxurious homeowners, hotels, etc and with the help of additional team, I will implement this innovation and set as separate automation units.

We need to think creatively and must introduce our products to architect and interior the designer.