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Please suggest a business idea of your own and make a SWOT analysis of your idea....

Please suggest a business idea of your own and make a SWOT analysis of your idea. Please note that while you are expected to come up with a “good” idea it is quite possible that your SWOT analysis may show that your “business idea” may not be very promising. In answering this question you are expected to be original – this means no repetition of business ideas that we have seen in class and no repetition of what other students have thought up. You can be sure that I shall be closely following any similarities in answers.

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Answer #1

BUSINESS IDEA - PRODUCING PHYSIOGNOMY SENSOR FOR THE AUTOMOBILE INDUSTRY

We know that there has been increasing number of road accidents occuring. This product, PHYSIOGNOMY SENSOR will be artificial intelligence based. It will analyse the driver's state, both physically and mentally, whether driver is completely alert or not while driving. The product will raise an alarm in the vehicle on detecting any kind of abnormality in the driver's state of driving.

SWOT ANALYSIS

STRENGTHS

  • Compatible with all types of 4 vehicles.
  • Contributes in reducing mishaps on ro

OPPORTUNITIES

  • There is first movers advantage for the product as there is unreserved market for this product.

WEAKNESSES

  • There may exist small margil of AI error.
  • Mis-fitting of the product in certain car models may lead to false alarm.

THREATS

  • One of the biggest threat to this product is Automatic cars.
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