Development of the Electric Bike Industry

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Table of Contents

Introduction
Business Details
Conclusion
References

Introduction

The expanding usage of gasoline or diesel automobiles has resulted in increased air pollution, which is getting worse by the day. As a result, alternative electric automobiles are presented as a sustainable transportation source of energy. The rising cost of gasoline has made it prohibitive for the average person, and as a result, more people are moving to electric bikes. In recent years, the electric bike system has advanced at a rapid rate. The advantages of utilizing electric bikes include the fact that they are pollution-free and not expensive. An electric motorcycle may provide many of the same benefits as a traditional bike. Electric bikes have several modes to select from, enabling riders to combine the amount of energy delivered through the pedaling with distance and battery capacity.

The electric bike industry is a prosperous one that will continue to grow in the future. The transition to electronic bikes will improve the environment by focusing on energy conservation. Because an electric bike has fewer components, it is less expensive to operate and maintain. The main drawbacks for consumers are that the range of these electric bikes is still inferior to that of traditional cycles, limiting journey time, and a global shortage of charging points. The essence of the start-up is to promote and create electric bikes to popularize alternative energy sources and reduce traffic jams due to a large number of large bikes.

Business Details

In my opinion, the crucial traits that launch a promising start-up are the quality of a leader. A natural leader can lead as many people as necessary and inspire everyone with ideas and beliefs and take up a common goal. When each team member has a clear understanding of the goals, and a roadmap, then the whole company works as a mechanism without flaws (Williams and Lumen Learning, 2022c). I feel that my leadership style is built on involvement and the democratic ideal. The goal is to have team members participate in decision-making. I prefer this style because my team members will feel empowered, engaged, and inspired to join as a result. This is how I can demonstrate to my colleagues that I am committed to completing the duties assigned to me and that, as a leader, I will ensure everyones comfort. In most cases, the leader has the last word in decision-making. The consensus process may take longer if there are disagreements within the group; however, the leader must make a decision that will not only satisfy the entire team but also bring success in further work.

Americans are revisiting old fuel-saving behaviors like driving smaller bikes or riding public transportation. E-bikes and e-cargo bikes, which operate on regenerative braking with battery packs, are becoming increasingly popular. An exclusion like this reveals how unappreciated battery-assisted bikes are in the United States. When an e-bike or an e-cargo bike is utilized instead of an automobile, society has advantages in several ways. Even if the motorcycle being substituted is electric, greenhouse gasses are drastically reduced. A two-wheeler takes up minimal space on the road and offers minimal risk to other drivers on the road. Even with some strength provided by the engine, the rider will get a surprise decent workout.

When organizing the tender, a person should keep the requirements for financial viability evaluation in mind. The economic viability review procedure should be appropriate to the projects vulnerability (Williams and Lumen Learning, 2022a). The Income Statement displays a periods costs, revenues, and earnings. It is a picture of the company that proves the viability of the business concept. Tender request documents should provide a method for businesses to exclude tenderers deemed to be excessively high-risk.

In the beginning, a C-Corporation is the ideal legal form; alternative forms come with complications that most investors would rather avoid. In a start-up company, the Chief Executive Officer or founders, as well as the Chief Technology Officer, are vital positions. These two crucial jobs in a company are at the level of the organization hierarchy and are in charge of two separate duties and responsibilities.

People are beginning to select e-bikes as a substitute for traditional bikes and bikes because of the simplicity, as well as the beneficial health effects. To thrive in this rapidly expanding industry, businesses must first comprehend the expectations of consumers and then deliver a high-quality, high-performance product (Williams and Lumen Learning, 2022b). Consumers have started utilizing e-bikes for a variety of reasons, including fitness and health in general. While serious cyclists have generally shunned e-bikes, pleasure cycling for fitness has become a must-do activity for a new generation of cyclists. The best way to communicate is through surveys and the introduction of social media. For a start-up, this is not expensive, but it helps a lot to understand the market and customers. Finally, I can say that the target customer is a sportsperson who cares about the environment not only mentally but also in building his life.

Our project is called Ecobike, which already speaks of the companys values. I believe that in terms of marketing, particular emphasis should be placed on alternative energy sources. With every purchase of a bike, the company can tell customers that they did well for the environment with this purchase so that society understands the central message of the start-up. In this way, many will begin to pick up the wave and participate in saving the planet through the use of alternative sources. As additional sources of funding, we can use donations from people who will be interested in promoting the project; in other words, this can be called an investment, but we are talking about small amounts that are transferred directly by clients or participants in eco-movements.

The management teams mission is to effectively administer the company, including all it includes, and establish and implement a good plan for the businesss future. Mark will be responsible for the marketing department. He clearly understands how the bike market works and is ready to help. Rosalinda works in the production department, and she has long wanted to work on a project like this because it can improve not only the lives of future customers but also hers. Sandra, who works in the finance department, was initially wary of everything because she did not understand where the funds would come from to start the project. However, she is ready to help with the work in the project from the side of economics and finance, which is an integral part of the company. Also, at the beginning of the project, I will play the role of a leader, but over time, an experienced leader can be found in my place, and I will perform smaller tasks on a project-wide scale.

Conclusion

The e-bike industry is growing every day, but at the moment, it has not received the maximum recognition, which makes this niche attractive for start-ups and investors. Thus, I can say that investing in the Ecobike project will help develop the field of alternative energy carriers, raising the topic of global warming and pollution of the environment by bike exhaust gases. This topic is also well-known, allowing investors to evaluate further actions.

References

Williams and Lumen Learning. (2022a). Introduction to Business, Understanding economics and scarcity. Adapted by UMUC and available under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported License.

Williams and Lumen Learning. (2022b). Introduction to Business, Why it matters: Role of business. Adapted by UMUC and available under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported License.

Williams and Lumen Learning. (2022c). Introduction to Business, Why it matters: Teamwork and communication. Adapted by UMUC and available under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported License.

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Development of the Electric Bike Industry

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