2023 | By: Ruth Gomis

Report
Innovation and Commercialisation
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Acknowledgements

Executive Summary

Table of Content

List of Pictures, Figures and Tables

List of Abbreviations
1.0 (P6) Introduction to Entrepreneurial Business Venture

A smart meter is a more advanced version of a normal electricity meter. Customers may keep track of
their meter readings with this tool. Embedded Subscriber Identity Modules (eSIM) are frequently used in
smart meters. These modules allow consumers to register their power usage to providers online instead
of visiting their physical offices. With this more modern electricity, a display is built inside the house. You
may view and follow customer usage statistics and pricing information on the display. As previously
noted, a smart meter is made to make it easier for you to figure out how much power you've consumed
during a specific period of time. After a smart meter is installed, you won't need to engage someone to
monitor and read your customers' power.
Once a connection is established, it will automatically track customer power use and produce a report.
Similar to your cell network, the smart meter's inbuilt E-SIM will provide provider and customer with meter
readings. The smart meter's In-Home Display also allows your clients to see their most recent power use.
Customers may use this to find out how much electricity they've lately used.
The Functionalities of the Smart Meter
- Automatic Meter reading;
- Remotely Connect/Disconnect supply;
- Load profile recording;

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 - Waveform recording;
- Alarm and event log; and
- Anti-tampering features

Benefits of Smart Meter

 
 Automatic Meter Reading through the Energy Gateway – Reduced meter reader visits;
 Upon implementation of CEB’s Customer Service Portal, the customer can access the following
facilities, through internet, among others
 To view his/her consumption trends;
 To view projected consumptions;
 To manage his/her electricity consumption;
 To view future scheduled meter reading dates;
 To view, download & pay your bills online;
 To make new requests online
 To report an electrical fault online

2.0 New Product Development (600 words)

New product is defined by Crawford as ‘a product for which the company needs a new marketing, and in
which the substantial changes are conveyed but excludes any changes that may require simple
promotions’
To make NPD effective, there should be a coordination between the manufacturing, engineering,
research and development (R&D), marketing, finance and purchasing departments. Marketing
department first has to make an assessment about new product, and then a cross functional team created
for the new product has to come into the scene for development of new product.
Product development is defined as the process of market information to create the final product for
commercial purposes (Clark, Fujimato,
Kim YH, Park SW, Sawng YW. Improving new product development (NPD) process by analyzing failure
cases. Asia Paciic Journal of Innovation and Entrepreneurship. 2016; 10(1):134-150
1991)file:///C:/Users/User/Downloads/Theory_of_New_Product_Development_and_Its_Applicat.pdf

The NPD process is defined as designed specific steps that describe how an organization transforms
their product idea into marketable products [12].
Kahn, K.B.; Kay, S.E.; Slotegraaf, R.; Uban, S. The PDMA Handbook of New Product Development; John
Wiley & Sons, Inc.: Hoboken,NJ, USA, 2013.
List of Pictures, Figures and Tables

List of Abbreviations

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1.0 Introduction to Entrepreneurial Business Venture
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