How much cash is available to the organisation as a result of your idea’s implementation?

PART 3: Individual Assignment: Module project: market potentialFor the final part of your Individual Assignment, you will add the financial aspect of your innovation to what you have already submitted before (SEE PART1 AND PART2)The financial aspect will include a financial plan to show:•How much and when funds are coming into the organisation•How much cash is available to the organisation as a result of your idea’s implementation•The projected financial position of your organisation as a result of the idea you implementedTo prepare for this Individual Assignment:Review your previous submission ( PART1 and PART2 ) and Instructor’s comments.Part 1 comments:This looks like an interesting Individual Assignment. You have presented your ideas clearly and articulated the perceived benefits well. Playing the devils advocate, will customers not still have to travel to access these kiosks? In addition, you need to consider not only the convenience for customers but also the costs of installation. Moreover, will AI replace the already in-place FAQs that customers have available to them? Think carefully about the types of functions that you envisage the kiosks being used for and whether or not these add value to the customer experience and which will, in turn, make this Proposal an investment worth considering for the banking sector.Part 2 comments:Here are some observations on your Individual Assignment:•If I interpret your Individual Assignment correctly then it appears that what differentiates your idea from what is already offered is the use of AI. oIf this is correct the you need to be able to articulate the benefits of employing AI at the kiosks. I can see that time may be saved but what is it exactly that the AI-enabled kiosks can do that the current un-maned kiosks cannot?•Whilst you identified the need for resources to develop the new AI kiosks, where will these come from? How will the capability be developed? •Similarly, the entry strategy was outlined in a generic way, but how will this be implemented in a practical manner?•In acknowledge that it is not possible to see accurately into the future but for the future development section you needed to be able to outline the possible potential uses of the AI-enabled kiosks. Overall, Sam, the idea is a good and novel one but in order to sell the idea you need to be able to articulate how it can be used and the key points of differentiation/superiority to what is currently offered. Remember, this idea has two markets- the banks and customers. To complete this Individual Assignment:You will need to prepare:•An operating budget for the implementation of your innovation for the first 2 years, broken down into quarterly periods•Projected income statements for your innovation for the first 3 years of its implementation*Use the operating budget and income statement proformas located in the module resources.Note: As stated in the introduction to this Individual Assignment, the idea can be implemented by way of a new enterprise (i.e. setting up a business) or by applying your idea to an existing organisation so that either revenues are increased, or, and just as importantly, costs are reduced. Therefore, your financial plan can also reflect the eventual cost savings of an innovation.