1

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 Table of Contents

1. Introduction ……………………………………………………………..…………..….. 4

2. Business Concept………………….………………………………………………….. 5

3. Product & Service highlights……………………………………………...………….. 5

4. Industry analysis & Trends………………………………..……………………..…… 6

5. Competitive Analysis……………………….…………………………………...…….. 7

6. Strategic Position………………………………………….………………….…...……8

7. Risk Assessment……………..…………………………………………………..…….9

8. Market Plan……….………………………...……………………………………….….9

9. Target Market Segment…………………………….……………………………….…9

10. Marketing Strategy ………………………...………………………………………..10

11. Marketing Mix…..………….………………………………………………………….10

12. Sales Strategy……………… ……………..…………………………………….….. 11

13. Operations…………………………………………………………………….….….. 12

14. Technology Plan……………..…………………………………………………….…13

15. Organizational Structure…………………………………………………………..…14

16. Management Structure…………………………..………………………………..…14

17. Exit Plan ………………………………………...……………………………….…...16

18. Finances ………………………….………………………………………………..…16

19. Future Objectives ……………………………….………………………………..… 19

20. Appendix..……………………………….………………………………………...… 20

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 INTRODUCTION

Vendingo, PVT.LTD is a start-up business that provides vending machines at commercial places.
These vending machines are bought from Future Techniks and the food in these vending
machines are bought at bulk from the local stores. We will penetrate the vending industry with
innovative, first to market, high quality vending machines. We will establish our own vending
routes in India. We also plan to participate in the $321 billion food & beverage industry by
supplying high-quality innovative equipment.We as a company focus on providing affordable
and accessible food to our target market who is always on the run and do not have much time on
their hands. Through close customer contact and excellent relationships, we will meet the needs
of our customers wherever we can. Vendingo will secure sufficient profits from free cash flow
from operations, to sustain its stability and finance future growth. We will add value to our
community by maintaining a friendly, familial work environment.

OUR MISSION

Our company's goal is to be the pioneer in introducing creative, high-quality vending products
by offering snacks and drinks of superior quality and taste. We intend to continue our initiative
by conducting thorough statistical analysis and implementing various marketing strategies. Our
company's goal is to introduce a new concept that will be implemented in India. Being a new
company, there is a risk of failure, but we intend to continue because of our economy's demand
growth and our increased consumption. We will fulfil our customers' needs whenever possible
through close customer interaction and excellent relationships.

OUR VISION

Our aim is to be known as the industry leader in the provision of vending machine services in
India. We regard our customers as our most valuable asset and stress the importance of bringing
value to our customers by anticipating and fulfilling their needs.

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 BUSINESS CONCEPT

Concept - To provide affordable goods and is accessible to our customers everywhere, also helps
optimise our lives, Grabbing a latte from your coffee vending machine can take as little as 20
seconds!

Customer Needs - At Vendigo, it is more than just vending machines, Customers are our no.1
priority and utmost care is take in order to satisfy their needs and wants.we have deducted a
perfect plan to put a smile on every one of our customers

Problem solution - Some common problems include the machine running out of stock. We have
eliminated that by constantly reconfiguring our machines to help you get your desired product
always. We have also eliminated the need for coin transactions to keep up with the current
generation and have implemented UPI and other ingenious ways to shop at our vending
machines.

Idea to opportunity mapping - It is a matter of fact that vending machines is not a short term
profit making venture. There will always be a need for vending machines in our fast paced life to
acquire quality food at affordable prices.Traditionally, vending machines are coin operated
devices that dispense goods to customers, which has now become outdated than the cutting edge
technology we bring to the game with our vending machine for our customers.The existing
vending machines are certainly not functioning effectively, The goods are unorganised and the
payment option has become obsolete in our newer generation due to which customers prefer not
to use them

PRODUCT AND SERVICE HIGHLIGHTS

Vendingo will collaborate with local vendors when it comes to vending machine merchandise;
they will provide us with snacks and beverages, as well as a variety of other products,allowing
Vendingo to avoid spending money on storage. We've already made some agreements with local
vendors in terms of pricing, and since we'll be buying in bulk, we've settled the prices on a
discounted rate.

Our service will vary with every customer category that we serve. We have opted for the most
efficient and easy system for customer interaction with our machine. Only an ID card scanner

5
can be used to buy items from vending machines in schools. They will be allotted a limited
amount of spending which will be decided by their respective schools. For colleges, we have
three versions: ID cards, a mobile application, and money slots. Mobile applications, money
slots, and a variety of online payment services are available to private companies and the general
public. Vendingo will be responsible for vending machine maintenance; we will service vending
machines every three months and conduct technology tests every eight months. Our company's
technician will take care of these.

INDUSTRIAL ANALYSIS AND TRENDS

The vending machine market, if looked at globally, was estimated at US $135 billion in the year
2020. After researching upon the various implications of the pandemic on businesses, growth in
the food and beverages segment has been re-estimated to 1% CAGR (compound annual growth
rate) for the next 7-8years. Therefore taking into account the covid-19 setback, the market
forecasts a revised size of US $146.6 Billion by 2027. But when it comes to the Indian vending
machine market it is likely to witness a surge in the coming few years owing to the immense
growth in the retail industry together with rapid urbanisation. Vending machines in India were
first introduced only in the government operated transportation and hospitality sectors, the intent
was to make essential products available to consumers even at closed hours. Rising population,
growing digitisation and mobile-based cashless payment options increasing investment in the
retail sector as well as growing awareness and rising purchasing power of consumers are some of
the key growth drivers of the vending machine market1 and therefore have resulted in a
substantially increased scope of operating a vending machine business in India.

The demographic trends have had a major impact on the Indian vending machine industry.
Young adults can be attributed to these trends as many of them have grown up eating fast food
which in turn has resulted to be a powerful economic force. Their attitude towards fast food,
technology, and vending in general can be deemed as beneficial. Furthermore going back to the
aforementioned statistics regarding the covid outbreak, our hope is that this unfortunate event
might assist the market with respect to vending machines as they do serve as means to avoid
physical contact and assure healthy and safer buying options.

6wresearch, 6. “Indian Vending Machine Market (2020-2026).â€Â 6wresearch.Com, 6wresearch, May 2020,
1

www.6wresearch.com/industry-report/india-vending-machine-market-2020-2026#.Â

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 COMPETITIVE ANALYSIS

Current alternatives

Vending machines, although previously introduced to the Indian market, still continue to have an
insignificant presence. As far as the competition is concerned there aren’t many vending machine
companies that serve in public places apart from the ones that are installed in airports and a few
in hospitals which again is limited to metropolitan cities such as Delhi, Mumbai and Bangalore.
The major domestic players that exist in the market are Godrej vending— that mostly serve hot
and cold beverages in office setups , Seaga India Private Limited— is based out of USA and has
just recently entered the Indian market, they focus primarily on manufacturing vending
machines and Vendiman Private Limited— again is a manufacturer of vending machines based
in Mumbai. To sum it all up they are a combination of vending machine manufacturers and
operators that haven’t tapped the full potential that the Indian vending machine market has to
offer. Therefore Vendingo will reap the conventional benefits of first to market. Another
alternative are the local grocery stores, their abundance and wide assortment of goods can pose a
threat to vendingo. Customers may choose them as they represent a one stop shop…

Our Advantages

Almost all of the vending machine companies in India are into manufacturing. They provide
leasing and partnership options to customers looking for vending machine services. The
advantages that our company has over them is availability. We are looking into expanding our
business not just in metropolitan cities but also in other states comprising schools, colleges,
housing societies, metro stations, business parks etc. We would be collaborating with the local
vendors and grocery stores to cut down on our transportation expenses. We have done extensive
research to get familiarised by the locality case by case basis, we are aware of the variety of
needs each community requires. We have come up with various plans curated by our experts to
cater to each demographic. For example: schools get to choose the products they would like to
display in their vending machines, they could opt for healthier snack options and will also be
provided with samples. Vending machines in offices and business parks will be equipped with
instant meals such as instant noodles, poha etc. We provide high grade technology and software
that makes it very efficient for the customers to carry out their transactions, precisely it takes
about 1.5 mins in total to select a product/products, pay the amount using one of our many
payment options and to get the product in hand ready to consume.

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 STRATEGIC POSITION

Vendingo has planned on achieving its sales targets through a combination of establishing
customer relations and aggressive sales tactics. Our initial proposition is to hit the major
metropolitan cities covering both aspects B2B(schools, colleges, businesses,) and B2C( stations,
societies, busy streets, malls). We will continue to take part in industry trade shows, consistent
self-visits and use our social media platform as an initial effort to fuel our start-up. Gradually as
our budget increases and funds become more available we will expand our business nationwide
and invest more capital in advertising vendingo. Concurrent with this strategy we will look into
collaborating with established brands that have a larger market share in the food and beverage
segment of India, to sell their products through our vending machines. This will help us become
a supplier of choice.

To comprehend each aspect of the business we have conducted a SWOT analysis

S.W.O.T Analysis

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 RISK ASSESSMENT

Risk assessment will help vendingo identify threats, determine the magnitude of each risk, and
look for ways to minimize the risk's effects. Conducting a risk assessment would also allow the
organization to ensure that the gains outweigh the risk involved.

Vending machines are more vulnerable to theft and vandalism because they are placed in public
spaces. To avoid such problems, the organisation plans to instal a small camera as well as an
alarm system.

The organisation may face challenges such as being unable to attract more customers to the
vending machine location, creating a problem in terms of the location's cost and revenue
generated from that location.

Malfunctions are very common when it comes to vending machine businesses. This poses a
constant risk because it is not possible for us to know when and where it occurs. This can cause
the heat sensitive products to rot and also cause transaction issues. Which may lead to customer
dissatisfaction. In order to resolve this issue we have provided a customer service helpline on our
app in which a customer can get into contact with our customer service executive 24/7 and report
their issue. The money will be refunded to the customer within 3-5 business days.

Recently vending machine businesses have been experiencing fraudulent activity carried out by
customers who formulate means of hacking into the system illegally. This in turn contributes to
major losses and malfunctions.

MARKETING PLAN

Target market and market segment

3 types of market segments:

● End users- Vendingo would offer its services largely to the general customers. These are
people who come in contact with vendingo machines at localised public spots such as
public parks or business parks, transportation facilities such as metro stations and bus
stops. We are not focusing on targeting any particular age group, gender or ethnicity.
Our services are available to everyone.

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 ● Private Corporations- these are statutory corporations which mainly include banks and
company offices. These are companies that want to provide their employees with high
quality food without having to employ additional staff.
● Education sector- These include schools, colleges and universities all over India.

Marketing strategy

As a startup that is new to the vending machine industry we will initially need to focus on
creating an audience within the marketplace. We will have to create lasting relationships with our
customers which will in turn result in a disciplined pattern of growth. Our primary focus in the
early stages is to network our brand with the help of existing connections with different business
owners and most importantly ‘word of mouth’. Along with our personal connections we will
dive into door-to-door cold calls and visit high potential sales locations. We also plan on
marketing our brand through several other platforms such as social media where we will be
documenting all of our milestones and also be posting tutorials on how to use our vending
machines. Then there are print advertisements such as a press release, brochures/pamphlets and
other industry publication adverts, which will further reinforce all our ideologies.

Marketing Mix

Products

Vendingo sets itself apart from the rest of its competition by offering a much diverse range of
snack options and beverages.

Vending machine supplies:

● Snack packs: chips, cookies, candies, chocolates, etc

● Beverages: Bottled water, Sparkling water, Energy drinks, Soft Drinks, Iced coffee etc.
● Instant ready to eat food packages or meals such as instant noodles or poha. Limited to
offices, schools, colleges and universities.

Price

Our pricing strategy is based on product line pricing. Each product sold from Vendingo machines
will be at M.R.P, no extra margin will be charged. When it comes to Schools, colleges and
offices our pricing strategy works on subscription bases. The said businesses will have to pay us
each for each additional month in advance or choose to pay for one whole year. They will be

10
provided with the liberty to choose the products they would like to display in the vendingo
machines at their location if not then we also offer curated plans included in the subscription fee
and lastly they could opt for a simple vendingo machine where items would be stocked by us as
the products displayed get over. The subscription fees range from Rs.3000 to Rs 10.000 per
month. All shipping prices are included.

Place

Vendingo will be placed majorly in metropolitan cities just until funds are more available, by
then we will be looking to expand nationwide. Our Vendingo machines will be placed at business
parks, parks, schools, colleges, universities, offices, malls, societies, busy street intersections,
banks etc. At present vendingo is looking at upto 60% of its sales through networks, these
majorly include businesses and then some societies. We do have an official website where
businesses can go and register for their very own vending machine service.

Promotion

In the Indian vending machine industry it is key to promote your business because not many
people are familiar with the concept of a vending machine, at least not outside of the
metropolitan cities. People need to be made aware of this easy and efficient way of buying their
favourite snacks. Vendingo will be promoting its vending service through various activities such
as print adverts, advertisements, industrial trade shows, industrial publications, online website,
social media, banners and billboards, brochures/pamphlets. All of these mediums will include
our contact details and information. We plan on leaving no stone unturned.

SALES STRATEGY

Vendingo would use two different sales methods in order to attract a wider variety of customers
from various age groups. Our first sales process is a business to business aspect, in which we
will partner with various schools to offer vending machines and our services, with children being
able to use the vending machines using their ID cards During their free time or during break,
children will have a limited amount of money for every week or month (determined by the
school) to buy a snack, which will be included in their student fee structure as pocket money.
This program would also benefit students who have limited break time who will get to easily
access the vending machine, purchase food or beverages, and return to their schedules.

Our second sales process is business to customer, where vendingo can directly deal with
consumers by installing vending machines in numerous locations in various cities, renting a
block in commercial areas such as malls, airports, and metro stations, and partnering with

11
various communities. Customers will reach vending machines through their smartphone
application, which can provide them with information such as the locations of vending machines
near them and the amount of inventory or products available in those vending machines, saving
them time and helping them to quickly get on with their day.

The company will use Salesforce as a sales tool to obtain customer reviews, from which they
will be able to get hold of input on pricing, product quality, and various products to stock the
vending machine according to demands of a particular population, as well as the time it requires
to restock the products in a vending machines. We will be able to educate more consumers about
the vendingo and its products due to the salesforce.

OPERATIONS

Vendingo Private Limited is a Vending Machine service company based in BKC, Mumbai. Our
operations are divided into two segments: front end and back end. Our management looks after
the running and the efficiency of both the segments this helps prevent any laxity on any side of
the business. The front end will consist of employees in direct contact with our customers and
formulate various tactics to receive helpful feedback from them. Furthermore they will hold
informational roles which will help us improve our service in the long run. Back end consists of
our core committee and management teams, they will hold a holistic grip over the functioning of
the business. Their tasks include appointing employees, generating forecasts, working on the
technical aspects of our service, the creative approach, the financial department would create
budgets and financial statements, and lastly the board of directors while holding the key
authority over the decision making process. Our day to day activities at present are looking for
prospective investors for funds, Design alterations for generating the most efficient and high tech
vending machine out there, and to search for and contact different businesses and customers that
are willing to purchase our services also to find public hot spots for vendingo machines to be
placed. We are aware of the ever evolving industry we are part of, as the business grows our
operations morph to accommodate those changes in order to prevent any challenges that may
emerge.

TECHNOLOGY PLAN

Each of our Vendingo machine is designed in a unique way which is extremely aesthetic to look
at. We believe that marketing serves as a key factor when it comes to new to market products.
The structure of our high grade vending machine is illustrated in the image below.

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Entrance into the machine is via a controlled access system, it comprises an alarm system . The
faces named Servers provide interfaces for customers to do their transactions and a window for
vendors as communication and advertising platforms. The inside of the machine is spacious
enough to fit in the retrieval system and all the connections that are needed for the running of the
machine.

ORGANIZATIONAL STRUCTURE

Vendingo intends to incorporate as a private limited company. The business will use a team-
based organisational structure, which can deviate from the conventional hierarchical structure by
concentrating more on problem-solving and giving fellow partners and workers more
responsibilities, allowing us to be more efficient and encouraging a growth mindset.Also, rather
than focusing on managing the business, we can concentrate on developing our brand and
company.

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Vendingo will be run by a board of directors who will be chosen by Vendingo's executive
director and the management team, with the five founding members in charge of day-to-day
operations, who will oversee the various departments, including the financial department, which
will be handled by Rishwanth Raj, the information and technology department by Abhiram
Reddy, the operation department by Karan Potheri, and the marketing department by Jay Reddy.
Our company will be run by our Chief Executive Officer, Sri Chaithya Bobba, who will be the
company's leader. The organisation will create a basic corporate legal framework, such as a
certificate of incorporation and other corporate legal structure formalities.Vendingo will start its
operation.

MANAGEMENT STRUCTURE

Sri Chaithya Bobba - Chief executive officer(CEO)

She earned her bachelor's degree from Indian Business School and her master's degree in human
resources administration and Finance from Princeton University in the United States.worked for
IBM for two years in human resources before moving to Google as a finance advisor for seven
years. She is going to advise the board of directors, she is going to formulate policy and planning
recommendations to the board, she is going to determine or guide courses of action in practise by
staff, she is going to oversee the operation of organisations, she is going to execute strategies,
and she is going to handle financial and physical resources. Assures that the organization's
mission, services, products, and outcomes are regularly communicated to relevant stakeholders
in a clear, optimistic light1.

Abhiram Reddy- Chief technology officer(CTO)

He earned his bachelor’s degree from Indian Business School and His master’s degree in
information technology from IIT Kanpur, India.For four years, worked as a software developer
for BookMyShow, then switched to Paytm for five years.. He is working on a mobile app that
will be connected to a vending machine that will enable consumers to order items. He will also
be in charge of the company's technological and engineering departments. Has responsibility for
the company's data, security, maintenance, and network, as well as putting the company's
technological strategy into action2.

Jay Reddy - Chief Marketing officer (CMO)

He earned his bachelor's degree from Indian Business school and his master’s degree in
marketing from King’s college london, United Kingdom.Operated for Swiggy for two years as a
1 “Roles and Responsibilities of Chief Executive Officer of a Corporation.” Free Management Library,
managementhelp.org/chiefexecutives/job-description.htm.
2 Frankenfield, Jake. “Why Chief Technology Officers (CTOs) Matter.” Investopedia, Investopedia, 7 May
2021, www.investopedia.com/terms/c/chief-technology-officer.asp.
14
marketing representative, moved to Accenture as a marketing consultant for four years. He will
be in charge of the company's marketing and advertising campaigns, including their preparation,
growth, and implementation. His primary duty is to increase sales by using market analysis,
pricing, product marketing, marketing communication, advertisement, and public relations to
generate revenue for the business3.

Rishwanth Raj - Chief financial officer(CFO)

He earned his bachelor’s degree from Indian Business school and his master ‘s degree in finance
from University of Toronto, Canada. For three years, worked as an accountant for Trilegal India
moved to Deloitte as a financial consultant for five years .He will be in charge of the company's
financial actions, which include cash flow monitoring and financial planning, as well as
analysing the company's financial strength and weakness and recommending corrective actions4.

Karan Potheri - Chief Operating Officer(COO)

He earned his bachelor’s degree from Indian Business school and his master’s degree in
operation from Trinity University,United states.He worked for Larsen & Toubro for three years
as an operations manager before moving to Reliance Industries for seven years. Oversees a
company's day-to-day administrative and operational functions, as well as all of the company's
outward-facing communications5.

EXIT PLAN

Vendingo has the most technologically innovative vending machines in the world, which the
company built, as well as an application connective service that is simple to order for customers
and easy to access for company management. Vendingo's software service is protected by a
patent.Vendingo can liquidate investor money from its intellectual property, which has a high
market valuation. For example,Crane Merchandising Systems has been attempting to produce a
Software version of the vending machine for several years but it is not up to the mark work if
compared to its competitors.This may be one for prospective intellectual property buyers, Since
it is one of the most sophisticated software systems in the industry, it may also be of interest to
other organisations.

3 “Chief Marketing Officer (CMO) Job Description Paladin.” Paladin Staffing,

www.paladinstaff.com/jobs/careers/chief-marketing-officer-job-description/.

4 Grant, Mitchell. “Chief Financial Officers: An Inside Look.” Investopedia, Investopedia, 7 May 2021,
www.investopedia.com/terms/c/cfo.asp.

5 Bloomenthal, Andrew. “What Chief Operating Officers Do.” Investopedia, Investopedia, 7 May 2021,
www.investopedia.com/terms/c/coo.asp.
15
The Indian Tobacco Company has already acquired a significant stake in Delectable, a vending
machine startup based in Bangalore, India6, and they are now looking for other companies and
options to expand their retail distribution network, with an emphasis on acquisition rather than a
merger. Vendingo could be a potential company of interest to the ITC because of its
technologically advanced vending machines and also because of its location, which could help in
gaining more market share.

When the company sells their asset, the investor can quickly recoup their investment, and it
would still bel a low-risk investment.Vendingo has total assets of 66 lakhs, which means the
company can easily pay the investors their money by selling half of the asset, The majority of the
money is spent by the five founder members, with the remaining 30 lakhs coming from the
investor to cover the necessary funds.

FINANCES

Vendingo's future capital requirements are met by cash flows provided from operations, which
will require us being disciplined and cautious in our operations and development. The company
has a projected initial start-up budget of Rs. 1,000,000, of which 70,00,000 will come from the
five founders and the remainder will come from investment capital provided from potential
investors.

The table below shows our startup costs, which have been funded to date by the founders'
investment.

Startup cost Rupees(Rs)

Requirements

Startup expenses 7,00,000

Cash purchases 89,000

Utilities 6,00,000

Repair and maintenance 1,09,000

insurance on the vending machines 56,000

Block rent 8,00,000

6 Naik, Amit Raja, and Inc42 Staff. “ITC To Acquire Vending Machine Startup Delectable To Expand Retail
Distribution Network.” Inc42 Media, 14 Nov. 2019, inc42.com/buzz/itc-to-acquire-stake-in-vending-
machine-startup-delectable-to-expand-retail-distribution-n etwork/.
16
Travel expense 56,000

Inventory expense 80,000

Marketing and advertising 8,00,000

Freight 60,000

Others 50,000

Total startup expense 34,00,000

Assets

Cash required 3,00,000

Start up inventory 3,00,000

Other current assets 0

Long term assets 60,00,000

Total assets 66,00,000

Total requirements 1,00,00,000

Start Up Funding Rupees(Rs)

Start up Expense to fund 34,00,000

Start up assets to fund 66,00,000

Total funding required 1,00,00,000

Assets

Non cash assets 3,00,000

Cash requirements 3,00,000

Additional cash raised 0

Cash balance on starting date 70,00,000

Total assets 66,00,000

Liabilities

Current borrowing 0

17
 Long term liabilities 30,00,000

Accounts payable(outstanding bills) 89,000

Other current liabilities(interest free) 0

Total Liabilities 30,89,000

Capital

Investment by founders 70,00,000

Capital raised by investors 30,00,000

Additional investment required 0

Total planned investment 1,00,00,000

Loss at startup (start up expense) (34,00,000)

Total capital 66,00,000

Total capital and Liabilities 36,00,000

Total funding 1,00,00,000

FUTURE OBJECTIVES

Short term:

We will focus on growing our market share through various aspects such as constantly creating
better software to increase the efficacy of our service, cost-cutting, strengthening our customer
base, following smart hiring practices, and building lasting customer relationships. This will help
vendingo dominate the industry and enjoy the fruits of its economies of scale.

Our next objective is customer acquisition. We will be cutting down on our costs as our brand
gets established. We are looking into diversifying our pricing system with respect to the
demographics of the cities we offer our service in.

Another objective is creating brand awareness and establishing ourselves in the market. This will
be done with the help of rigorous marketing, advertising and efficient customer service.

Long Term:

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Initially we will be operating in metropolitan cities but as funds become more available as well
as revenue, to be precise after our sales grow by 35% we will look into expanding our operations
into various cities of India.

We intend to increase sales by 15% in the first year, 25% in the second year, and 30% in the third
year, as well as increase the number of vending machines, market share, customer acquisition,
and revenue.

After The Organization has obtained significant growth in terms of market share, we will be
focusing on customer loyalty programs in order to maintain the customer base from which will
help Vendingo to procure guaranteed sales of 40 to 50%.

APPENDIX

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Responses

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 References

6wresearch, 6. “Indian Vending Machine Market (2020-2026).â€Â 6wresearch.Com,

6wresearch, May 2020, www.6wresearch.com/industry-report/india-vending-machine-
market-2020-2026#.Â

Bloomenthal, Andrew. “What Chief Operating Officers Do.” Investopedia, Investopedia, 7

May 2021, www.investopedia.com/terms/c/coo.asp.

“Chief Marketing Officer (CMO) Job Description Paladin.” Paladin Staffing,

www.paladinstaff.com/jobs/careers/chief-marketing-officer-job-description/.

Frankenfield, Jake. “Why Chief Technology Officers (CTOs) Matter.” Investopedia,

Investopedia, 7 May 2021, www.investopedia.com/terms/c/chief-technology-officer.asp.

Grant, Mitchell. “Chief Financial Officers: An Inside Look.” Investopedia, Investopedia, 7

May 2021, www.investopedia.com/terms/c/cfo.asp.

Naik, Amit Raja, and Inc42 Staff. “ITC To Acquire Vending Machine Startup Delectable
To Expand Retail Distribution Network.” Inc42 Media, 14 Nov. 2019, inc42.com/buzz/itc-
to-acquire-stake-in-vending-machine-startup-delectable-to-expand-retai l-distribution-
network/.

“Roles and Responsibilities of Chief Executive Officer of a Corporation.” Free

Management Library, managementhelp.org/chiefexecutives/job-description.htm.

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