Letter of Transmittal

Date: 29 October 2023

Mafi Rahman
Lecturer
Department of Business Administration- General
Faculty of Business Studies
Bangladesh University of Professionals (BUP)

Subject: Submission of Term Paper for "Introduction to Business" Course (GED 1102)

Dear Miss,

In accordance with the guidelines of the syllabus for the current academic term, I am writing
to properly transmit my term paper, “An Innovative Business Idea: ElectroVolt Empowering
Energy Excellence” for the course "Introduction to Business" (Course Code: GED 1102). The
submitted paper presents a comprehensive business proposal that has been painstakingly
researched and created while conforming to the course syllabus's requirements and
specifications. This paper's goal is to demonstrate a workable energy storage & sales
company idea while embracing course-wide introduced key principles and theories. I've gone
to considerable lengths to make sure the writing is intelligent, well-structured, and reflects a
thorough comprehension of the subject.

I want to sincerely thank you for your insightful advice and thoughts that have greatly aided
in the construction of this term paper. I hope the accompanying term paper satisfies the
criteria and requirements stated in the course requirements. I'm open for any talks or
presentations about the paper's subject matter whenever it's convenient for you.

Regards

Noushin Anjum Prionty

Roll: 23230114020
Section B, Batch 2022-23
Department of Business Administration General
Executive Summary
Here at Electrovolt, we are at the forefront of a revolutionary new era in energy solutions,
revolutionizing the distribution, storage, and use of power in Bangladesh. Being a pioneer in
the energy storage sector, we are experts in offering state-of-the-art, environmentally
responsible solutions that are customized for communities and enterprises. Our cutting-edge
energy storage technologies provide a steady supply of electricity, improving operational
effectiveness and promoting sustainable growth. We are leading Bangladesh's energy
transformation journey with a dedication to innovation, dependability, and environmental
responsibility. Come illuminate the way to a more sustainable, intelligent, and affluent future
with us. Electrovolt – Advancing Development, Creating Opportunities.

Table of Content
s
1. About the Business.................................................................................................................1
1.1. Introduction to Energy Storage Systems.........................................................................1

1.1.1. History of Energy Storage Devices..........................................................................1

1.1.2. Power Generation & Supply Industry in Bangladesh...............................................2

1.2. Reason behind Choosing Energy Storage System...........................................................4

1.2.1. Pain Points................................................................................................................4

1.2.2. Our Response............................................................................................................5

1.3. Reasoning behind Choosing CAES as the Vehicle.........................................................6

1.4. Functionality of CAES....................................................................................................6

1.5. Vision..............................................................................................................................7

1.6. Mission............................................................................................................................8

1.7. Core Values.....................................................................................................................8

1.8. Stakeholders....................................................................................................................8

2. Management Functions........................................................................................................10
2.1. Planning.........................................................................................................................10

2.1.1. SWOT Analysis......................................................................................................10

2.1.2. Porter’s Five Forces Analysis.................................................................................10

2.1.3. The Decision Making Process................................................................................13

2.2. Organizing.....................................................................................................................15

2.3. Leadership Style............................................................................................................16

2.4. Control Mechanism.......................................................................................................17

3. Marketing Strategies............................................................................................................18
3.1. Product...........................................................................................................................18

3.2. Price...............................................................................................................................19

3.3. Placement......................................................................................................................19

3.4. Promotion......................................................................................................................19
Conclusion................................................................................................................................20
References................................................................................................................................22

(The rest of the page has been left blank intentionally)

1. About the Business
1.1. Introduction to Energy Storage Systems
An energy storage system or gadget functions similarly to a grid-wide rechargeable battery.
Similar to how you may replenish your laptop or smartphone's battery and utilize the stored
energy when required, these systems store electricity during periods of abundance and
provide it during peak demand. Energy storage is the capture of energy produced at one time
for use at a later time to reduce imbalances between energy demand and energy production.
(ClarkeEnergy | A Kohler Company, 2023) They are essential in maintaining a balance
between the supply and demand of electricity, particularly in the case of erratic renewable
energy sources like wind and solar power.

The lithium-ion battery, which is larger than the battery in your phone, is one typical
example. These batteries are utilized in everything from electric automobiles to powering
houses because of their large capacity to store energy. Another example is pumped hydro
storage, in which water is released downhill to create energy when needed and pumped uphill
to a reservoir during periods of high electricity availability.

These systems are essential for ensuring a stable and reliable supply of electricity, even when
the sun isn’t shining, or the wind isn’t blowing. They are like energy 'reservoirs,' allowing us
to store power for rainy days or times when the wind isn't blowing. This technology is
transforming the way we use energy, making our grids more resilient and efficient.

1.1.1. History of Energy Storage Devices

The development of energy storage technologies and systems throughout history is evidence
of human creativity and the growing demand for a steady source of energy. The first energy
storage systems date back to the time of ancient civilizations, who employed gears and water
wheels among other mechanical devices to store and release energy. However, the invention
of rechargeable batteries in the late 19th century marked the start of the contemporary era of
energy storage. A major turning point was reached when Gaston Planté created lead-acid
batteries in the 1850s, offering a dependable source of stored energy. Many inventions were
made during the 20th century, such as the lithium-ion battery in the 1970s and the nickel-
cadmium battery in the early 1900s. These innovations transformed portable electronics and
opened the door for

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The commercial energy storage industry has advanced significantly in the last few decades.
The development of grid-scale energy storage systems, which are intended to store
substantial amounts of electricity for entire towns, is one noteworthy advance. Because of its
high energy density and affordable price, lithium-ion batteries have taken the lead in the
market for grid-scale applications. Furthermore, the efficiency and dependability of these
systems have been improved by the development of sophisticated energy management
software, enabling a smooth integration into the current power grids.

Additionally, cutting-edge technologies like compressed air energy storage (CAES), which
uses excess energy to compress air stored in underground caverns for later use in the
generation of electricity, and flow batteries, which store energy using liquid electrolytes, are
becoming more and more popular in the commercial sector. These developments solve the
issues of intermittent renewable energy sources in addition to boosting energy storage
capacity. With the introduction of Blockchain-based energy trading platforms and the
integration of smart grid technology, the landscape of commercial energy storage has become
even more diverse in recent years. Businesses and communities may now store extra energy
locally and share it amongst themselves as needed thanks to these innovations, which also
make more decentralized and efficient energy storage systems possible.

The energy storage market is set up for even more game-changing discoveries as the demand
for renewable energy sources rises. Future energy storage technologies are expected to be
more economical, ecologically friendly, and efficient thanks to further research and
development, which will accelerate the world's shift to sustainable energy sources.

1.1.2. Power Generation & Supply Industry in Bangladesh

Although the power generation industry has been privatized to a great extent, the supply
channel completely lies with the government & state owned companies. The maximum actual
generation up until June 30, 2022, was 14,782 MW. The percentage of total generation
capacity accounted for by public and private sector companies is 45% and 44%, respectively,
with 5% and 6% coming from imports and joint ventures. Starting in October 2013,
Bangladesh began importing 500 MW of electricity from India. From March 16 through
December 2018, it continued to import an additional 100 MW and 560 MW of electricity,
accounting for 9% of the country's total power generation.

Particulars Amount
Number of Power Plants 153

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 Installed Capacity (MW) 25,700
Maximum Generation (MW) 14,782
Total Consumers (in Millions) 43.10
Transmission Lines (km) 13,889
Distribution Lines (km) 629,000
Grid Substation Capacity (MVA) 56,882
Per Capita Generation (including Captive) Kwh 608.76
Access to Electricity (Including Off-Grid Renewable) % 100%

Power Production Capacity (Technology wise)

FY2021-22
Steam Turbine
Combined Cycle 7%1% 13%
5%
Reciprocating Engine 1%
Hydropower
Import
Gas Turbine
35%
Solar 38%

Figure: Power production capacity and breakdown of Bangladesh in 2021-22 (Power

Division, GoB, 2022)

Net Electricity Generation (2005-2021) in GWh

90000
80000
70000
60000
50000
GWh

40000
30000
20000
10000
0
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Fy Ending in

Figure: Historical Net Electricity Generation (GWh) in Bangladesh (Power Division, GoB,
2022)
The nation's ability to generate electricity is primarily dependent on non-renewable (fossil
fuel) energy sources, particularly natural gas. Non-renewable energy sources are rapidly
running out as a result of this trend. Therefore, in order to fulfill the enormous energy
demand that the nation is facing, it is imperative to reduce reliance on non-renewable energy

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sources and make use of the renewable resources that are now accessible. In Bangladesh, the
majority of people who live in distant, rural, coastal, and remote locations do not currently
have access to electricity. However, biomass and other renewable energy sources can be
extremely important in electrifying the nation's isolated, rural, and coastal areas.

Sector wise Power Consumption Pattern 2021-22

Commercial Industrial Residential Others

Figure: Sector wise Power Consumption Pattern 2021-22 (Power Division, GoB, 2022)

1.2. Reason behind Choosing Energy Storage System

1.2.1. Pain Points
1. Unstable Source of Power: Bangladesh experiences frequent power outages and load
shedding, which affects homes and businesses and necessitates a steady and dependable
supply of electricity.
2. Insufficient Grid Structure: Insufficient electricity distribution caused by inadequate grid
infrastructure in remote or rural locations impedes both technical advancement and
economic development.
3. Peak Demand and Energy Imbalance: Large disparities in the amount of energy supplied
and consumed, particularly during peak hours, cause disturbances and necessitate the use
of effective energy storage technologies to control variations.
4. Environmental Concerns: A move toward clean and sustainable energy solutions is
required because the use of non-renewable energy sources contributes to pollution in the
environment and climate change.
5. High Electricity Costs: As electricity costs rise, both consumers and companies are being
forced to embrace energy storage systems in order to save operating costs and optimize
energy usage.
6. Limited Access to Modern Energy Services: The need for localized energy solutions is
highlighted by the fact that remote and underprivileged communities frequently have
limited access to modern energy services, which impedes their ability to flourish socially
and economically.

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1.2.2. Our Response
Establishing an Energy Storage System (ESS) enterprise in Bangladesh may prove to be a
prudent decision because of various aspects pertaining to the nation's energy scenario.

Bangladesh has been rapidly urbanizing and industrializing, which has resulted in a
significant rise in electricity consumption. The Bangladesh Power Development Board
(BPDB) reports that the average yearly growth rate of the nation's power consumption has
been 6% (Hydrocarbon Unit, PetroBangla, 2023).

Demand for electricity is increasing by about 100 MW every day

- (Nasrul Hamid | State Minister for the Ministry of Power, 2023)

Bangladesh has made large investments in renewable energy, particularly solar energy. In
order to provide a steady supply of energy, ESS can support these efforts by storing extra
energy produced during the day for use at night or during moments of high demand.

By adjusting for variations in supply and demand, energy storage technologies improve grid
stability. This is especially important in Bangladesh, where shifting patterns of supply and
demand make grid instability a problem.

Distribution and transmission losses can be minimized by strategically placing ESS within
the grid. The transmission and distribution networks in Bangladesh suffer significant losses,
and by maximizing the flow of electricity, ESS may decrease these losses.

By facilitating the integration of renewable energy, energy storage devices help to lessen the
need on fossil fuels. This move to cleaner energy is in line with environmental sustainability
and global climate goals, two issues that are becoming more and more important globally.

By promoting renewable energy integration, it contributes to Goal 7 (Affordable and Clean

Energy) by ensuring a sustainable and clean energy supply. Reducing reliance on fossil fuels
aligns with SDG 13 (Climate Action) by mitigating greenhouse gas emissions. It supports
Goal 9 (Industry, Innovation, and Infrastructure) by providing innovative technologies that
enhance the resilience and efficiency of the energy sector. Reliability in energy supply is
essential for achieving Goal 11 (Sustainable Cities and Communities), contributing to the
development of smart cities within the Smart Bangladesh initiative. Energy storage solutions
help address Goal 1 (No Poverty) by ensuring energy access for marginalized communities,
uplifting their living standards. By fostering a conducive environment for clean energy

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technologies, this supports Goal 8 (Decent Work and Economic Growth) by creating job
opportunities and promoting economic development.

These systems improve grid stability in the context of the smart economy, hence promoting
economic activity. Both individuals and businesses benefit from an uninterrupted electricity
supply, which raises both parties' standard of living. An atmosphere that supports effective
digital services and simplified public administration is fostered by reliable electricity. Within
the context of the Smart Society, this solution fills in energy shortages, guaranteeing fair
access to energy and promoting a more cohesive and inclusive community.

A novel approach to energy storage known as compressed air energy storage (CAES). It is a
commercial, utility-scale technology suitable for providing long-duration energy storage with
fast ramp rates and good part-load operation. CAES works by using electricity to compress
air, which is subsequently stored in a large reservoir (typically in an underground geologic
formation). Electricity is regenerated by recovering compressed air from storage, burning in
this air a small amount of fuel (typically natural gas), and expanding the combustion products
through a turbine Due to its ability to balance supply and demand, this technique is very
effective for large-scale energy storage and can support grid stability. (Samir Succar, 2008)

1.3. Reasoning behind Choosing CAES as the Vehicle

The capacity of CAES to store vast amounts of energy for extended periods of time is one of
its main advantages, which makes it the perfect option for integrating intermittent renewable
energy sources like solar and wind power into the grid. This technique reduces energy loss in
the conversion and storage processes, which makes it an economical and sustainable energy
storage solution.

1.4. Functionality of CAES

1. Energy Intake:

 Electricity Compression: During periods of excess electricity supply, surplus energy

is used to compress and store air.
 Storage in Underground Caverns: The compressed air is stored in large underground
caverns or specially engineered containers, often in salt formations or depleted gas
fields.

2. Energy Release (Electricity Generation):

 Air Expansion: When electricity demand rises, the stored compressed air is released.

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  Air Expansion through Turbines: The released air flows through turbines, expanding
and generating electricity.
 Heat Recovery: The heat generated during compression and expansion processes can
be captured and utilized to increase the overall efficiency of the system.

3. Electricity Generation and Grid Connection:

 Electricity Generation: The rotating turbines drive generators, converting mechanical

energy into electricity.
 Grid Connection: The generated electricity is fed into the grid to meet the current
demand requirements.

4. Efficiency Enhancement (Optional):

 Thermal Energy Storage: Some CAES systems incorporate thermal energy storage to
store and reuse excess heat generated during compression, improving overall system
efficiency.
 Hybrid Systems: CAES can be integrated with renewable energy sources like solar or
wind power to create hybrid systems, balancing intermittent energy supply with stored
compressed air.

5. Monitoring and Control:

 Real-time Monitoring: Advanced sensors and control systems continuously monitor

air pressure, temperature, and electricity output to optimize the CAES operation.
 Grid Integration: CAES systems are synchronized with the grid's demand fluctuations,
ensuring seamless energy supply and grid stability.

6. Environmental Considerations:

 Environmental Impact: CAES systems are environmentally friendly, producing zero

direct emissions and having a low impact on local ecosystems.
 Land Use: CAES requires relatively small surface infrastructure, making it suitable
for locations where land use is a concern.

1.5. Vision
Empowering Bangladesh with Sustainable Energy Solutions: Lighting a Bright Path to a
Greener Future.

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1.6. Mission
1. We ensure uninterrupted power supply, 2. We integrate renewable energy sources,
bolstering Bangladesh's energy resilience. reduce environmental impact, and foster
eco-friendly practices.
3. We democratize access to clean, reliable 4. We commit to innovation, pushing the
energy, bridging the urban-rural energy gap. boundaries of energy storage technology.

1.7. Core Values

Service Excellence: Trust:
 Exceptional customer support.  Transparent business practices.
 Reliable and timely maintenance  Honesty in communication with clients
services. and partners.
 Continuous improvement through  Consistent delivery of promises,
customer feedback. ensuring reliability.
Integrity: Innovation:
 Ethical decision-making in all business  Ongoing research for cutting-edge
operations. solutions.
 Honoring commitments and contracts.  Cultivating a culture of creative
 Upholding confidentiality and data problem-solving.
security.  Embracing adaptability for continuous
improvement.
Sustainability: People:
 Promoting eco-friendly energy  Nurturing a supportive and inclusive
solutions. work environment.
 Minimizing environmental impact  Encouraging continuous learning and
through green practices. skill development.
 Investing in research for sustainable  Valuing the well-being and safety of
energy technologies. employees and stakeholders.

1.8. Stakeholders
Suppliers Energy: Provides the initial 1. Solarland Bangladesh Co. Ltd.
energy supply integrated into the 2. Green Power Ltd.
storage systems. 3. Alfanar Group.
4. Bangladesh China Renewable

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 Energy Company (Pvt.) Limited.
5. Kaptai Hydro Power Plant
Components / Materials: 1. Siemens AG
Provides components or 2. Edison Power Limited
materials for our energy storage 3. MAN Energy Solutions
systems.
Transmission Transmits the stored power all 1. PGCB 2. DPDC 3. DESCO 4.
across the country NESCO 5. WZPDCL
Customers Uses at the end point of 1. Residential unit 2. Commercial unit
transmission line 3. Industrial unit
Government Oversees energy policies and 1. BPDB 2. BREB 3. Ministry of
Agencies standards as the apex Regulatory Power, Energy and Mineral Resources
bodies 5. LGED 6. Honorable Prime
Minister’s Office 7. Ministry of
Agriculture 8. Finance Division 9.
Ministry of Environment, Forest and
Climate Change 9. SREDA 10.
Bangladesh Army 11. NBR 12. LGED
Research Contributes to the continuous 1. BCSIR 2. Institute of Energy,
Partners advancements in energy storage University of Dhaka 3. Bangladesh
technology. University of Engineering &
Technology (BUET)
Finance Finances the business operation 1. Sonali Bank PLC (Major Finance
Partners Provider) 2. Eastern Bank PLC
(Syndication) 3. ADB 4. KfW 5. IFC
6. Bangladesh Bank 7. Other
Scheduled Banks 8. General Public 8.
IDCOL & BIFFL
Consultants Provided valuable advisory to the 1. OtherLabs Inc. (USA) 2.
successful completion & running LankaBangla Investments Limited
of the project
* Strategic Partners
* Contingency Partners

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2. Management Functions
2.1. Planning
2.1.1. SWOT Analysis
Strength Weakness
Innovative Technology: Competitiveness is Market Newcomer: Less market penetration
fueled by state-of-the-art energy storage and brand awareness than more established
systems. rivals.
Expert Team: Knowledgeable experts Dependency on Suppliers: Components are
guaranteeing effective service delivery and susceptible to disruptions in the supply
operations. chain.
Local Focus: Personalized solutions Regulatory Difficulties: There are
designed to meet particular energy difficulties in adjusting to changing energy-
requirements in the Bangladeshi market. related laws and regulations.

Opportunity Threat
Growing Demand: Bangladesh's expanding Competition: The energy storage market is
economy's growing energy needs have very competitive, with long-standing firms,
created a sizable market. specialized in power generation business
Renewable Integration: As the nation Technological Changes: Without constant
focuses more on renewable energy sources, innovation, present technologies may
there is an increase in demand for storage become outdated due to rapid
solutions. improvements.
Partnerships: Working together with Economic Factors: Risks arise from changes
regional utilities and government programs in the economy that impact the ability to
can lead to new opportunities. invest and the demand in the market.

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2.1.2. Porter’s Five Forces Analysis
Particular Status Quo Our Response
The threat The threat of new entrants in the To address this challenge, it is
of new market is currently low, but there imperative for us to fortify their brand,
entrants is a potential for it to rise continuously innovate, and forge
significantly in the future. strategic partnerships. By establishing
a strong brand presence, companies
can create customer loyalty and trust,
making it difficult for new entrants to
attract the same customer base.
Innovation, on the other hand, ensures
that the company stays ahead of the
curve, offering unique products or
services that are hard to replicate.
Additionally, forming strategic
partnerships can provide access to
resources, distribution networks, and
expertise, creating barriers for new
players trying to enter the market.
Bargaining The current bargaining power of To address the current high bargaining
Power of suppliers is high, posing a power of suppliers, we should focus
Suppliers challenge for us. However, there is on diversification, negotiation, and
potential for this power to decrease relationship nurturing. Diversifying
in the future. sources reduces dependency,
negotiation secures favorable terms,
and nurturing relationships fosters
stability. These strategies prepare
companies for potential decreases in
supplier bargaining power in the
future.
Bargaining The current bargaining power of We should concentrate on
Power of buyers is low, and there is differentiation, personalization, and
Buyers potential for it to remain low in the nurturing customer loyalty. By
future offering unique products or services,
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Particular Status Quo Our Response
personalizing experiences, and
fostering strong customer
relationships, companies can retain
customer loyalty even in situations of
low buyer bargaining power, ensuring
continued business sustainability.
Threat of The current threat of substitutes is We should focus on innovation,
Substitute low but there is potential for it to education, and emphasizing their
rise in the future unique advantages over alternatives.
Continuous innovation ensures
products or services stay ahead of
potential substitutes, while educating
consumers about the distinctive
benefits of their offerings can create
brand loyalty. Emphasizing these
unique advantages reinforces the value
proposition, making it harder for
substitutes to gain traction in the
market. This strategic approach
prepares us for potential challenges
posed by increased substitute options
in the future.
Competitive The current threat of competition We should focus on differentiation,
Rivalry is low but there is potential for it aggressive marketing, and unwavering
to rise in the future quality and support. By offering
unique products or services,
intensifying marketing efforts to
capture market attention, and
consistently delivering exceptional
quality and customer support, we can
build a strong market presence and
customer loyalty. These strategies not
only deter competitors but also
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 Particular Status Quo Our Response
position the business strongly to face
heightened rivalry in the future market
landscape.

2.1.3. The Decision Making Process

The company’s decision making process follows the traditional 8-steps in management
practices. The diagram here describes every step:

Figure: The 8-step decision making process pertinent to ElectroVolt

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2.1.3.1. Operational Plan
1. Site Selection and Preparation: We will begin by identifying potential sites for energy
storage systems by conducting in-depth site assessments, taking grid infrastructure and
power source proximity into account. We will work with local government to make sure
rules are followed. When preparing a site and starting construction, we will follow
industry norms and guidelines to ensure effective safety practices.
2. Technology and Equipment: To ensure lifespan and dependability of high-quality storage
technologies, we will collaborate with Siemens AG, the largest of CAES equipment
suppliers. The equipment will be imported through their local partner, Edison Power
Limited. We shall update equipment often to take advantage of the most recent
developments in energy storage systems, which will improve performance and efficiency.
Before installing anything, put every component through a rigorous testing and quality
control inspection through BUET.
3. Grid Integration and Smart Systems: We will work together with the utility companies
mentioned above and PGCB to smoothly incorporate energy storage technologies into the
current grid architecture. We will use smart grid technologies from PGCB to estimate
demand, distribute energy efficiently, and monitor in real time. To maximize system
performance, we shall incorporate our data to the PDB power statistics web application
for data analytics, predictive maintenance, and remote monitoring.
4. Operations and Maintenance: We shall create a specialized operations and maintenance
staff with training on best practices and establish preventive maintenance, routine
inspections, and quick reaction times for any anomalies in the system.
5. Safety and Compliance: We shall enforce stringent safety measures and provide all staff
with emergency procedures and risk reduction training. It will also be ensured that
adherence to both domestic and global safety regulations is maintained by consistently
revising protocols in light of market advancements.

2.1.3.2. Strategic Plan

1. Innovative Technology Development: We make large investments in R&D. We work
with top research institutes such as IE (DU), BUET, BCSIR, IIT to create innovative
energy storage technologies. We give constant improvement top priority by creating an
internal innovation center to continue improving currently available items. We also keep

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 an eye on developments in technology throughout the world and quickly incorporate them
into our systems.
2. Strategic Alliances and Partnerships: We create important alliances by working together
with top energy research institutes to pool our knowledge and experience. We also create
strategic partnerships with nearby colleges to develop talent and spur creativity. We shall
strike long-term agreements with suppliers to guarantee a steady supply chain and
advantageous conditions. We also will work together with a few chosen vendors to create
specialized parts that will make our goods even more distinctive.
3. Efficient Supply Chain Management: We streamline our logistics network by
implementing data-driven demand forecasting algorithms. We guarantee diversity of
suppliers by building ties with a variety of providers to reduce the hazards brought on by
relying too much on one. We also partner with SREDA for data required for projections
of both demand & supply.
4. Market Expansion and Diversification: We pinpoint developing markets to determine
whether areas have a high energy demand and insufficient storage options by conducting
market research. We make sure our products are relevant and competitive by tailoring
them to meet certain local needs. We shall provide modular energy storage solutions for
commercial and residential users. We may also offer value-added services to build client
loyalty and new revenue streams, including energy efficiency consulting.
2.1.3.3. Contingency Plan
1. Market Volatility and Demand Fluctuations: As part of our rapid response strategy, we-
 Establish real-time market monitoring for agile production adjustments.
 Diversify product offerings for flexible market adaptation.
 Invest in innovative solutions for evolving consumer needs.
2. Supply Chain Disruptions: We develop robust supplier Relationship Management
through-
 Develop connections with several vendors to ensure redundancy, especially with
MAN Energy Solutions as alternative to EPL.
 Keep supplies of strategic components on hand for quick use.
 Work together with suppliers to develop shared risk management strategies.
3. Regulatory and Compliance Challenges: Proactive Compliance will be ensured through-
 Establish a specialized regulatory affairs team to anticipate policy.
 Encourage proactive interactions with the relevant regulatory bodies.

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  Conduct internal audits on a regular basis to maximize compliance.

2.2. Organizing
The organization is structured into 4 levels which is as follows:

Senior Level Mid-Level First Line Line Worker

1. Chief Executives: Chief executive officers, CFOs, and other members of the C-suite are
included at this level. They are in charge of long-term planning, decision-making, and
overall strategic direction. They set high standards and are in charge of the entire
company. Senior management is responsible for substantial investments, policy creation,
strategic planning, partnership decisions, and high-profile engagement representation for
the organization. To make well-informed strategic decisions, mid-level management
provides senior management with correct data and analysis. They also work together with
mid-level managers to successfully carry out strategic projects.
2. Mid-level Managers: Department Heads/Managers oversee particular divisions within
the organization, including operations, R&D, sales, marketing, and human resources.
They convert the strategies of the upper management into workable plans for their
departments. The functions of mid-level management include goal-setting, project
management, resource allocation, departmental strategies, and ensuring that departmental
objectives are in line with the company's overarching goals. For daily operations, they
rely on information and reports from first-level management. They work together with
first-level managers to guarantee that projects and tasks are carried out efficiently within
their departments.
3. First-level Manager: Supervisors/Team Leaders oversee teams and make sure daily
activities go without a hitch. They supervise workers' tasks, offer direction, and update
mid-level management on developments. Assigning tasks, keeping an eye on employee
performance, handling urgent problems, providing staff training, and making sure
departmental plans are carried out are the main responsibilities of first-level management.
In order to comprehend departmental goals and convert them into tasks that the teams can
complete, they must work closely with mid-level managers and rely on correct
information from employees.

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2.3. Leadership Style
Given the dynamic nature of the energy storage industry and the demand for innovation,
teamwork, and flexibility, our organization will benefit from a combination of coaching,
transformational, and democratic leadership philosophies. This strategy would promote
teamwork and creativity while cultivating a happy workplace and ongoing education for our
staff members.
Democratic leadership involves the thoughts and ideas of team members in the decision-
making process. Coaching leaders help staff members grow by offering assistance, criticism,
and motivation to improve their abilities. Employees are inspired and motivated by
transformational leaders to accomplish amazing results, which promote creativity and a
common goal. These encourage creativity and teamwork and are ideal for encouraging
creativity, collaboration, and staff involvement. They can be instrumental in coming up with
concepts in our company's research and development settings. These also help us develop
talent inside our company, cultivate a culture of learning, and encourage staff members to
keep improving.
2.4. Control Mechanism
As part of the control & monitoring process, we do the following-
1. Performance Monitoring:
 Install real-time monitoring systems to make sure that response times, capacity usage,
and efficiency are continuously tracked for energy storage units.
 Perform routine performance evaluations by comparing expected and actual results
using predetermined key performance indicators (KPIs).
 Make use of cutting-edge analytics techniques to examine trends in energy usage and
maximize the effectiveness of distribution and storage systems.
2. Quality Control and Maintenance:
 Create a thorough quality control program that includes regular component and
assembled system testing and inspections.
 Create a predictive maintenance system that minimizes downtime by proactively
identifying possible faults through the use of IoT sensors and data analytics.
 To guarantee consistency and dependability in maintenance procedures, conduct
routine audits of maintenance protocols and compliance with industry standards.
3. Customer Feedback and Satisfaction:

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  Use client feedback systems and satisfaction surveys to get information about the
effectiveness of our products, the caliber of our services, and our entire customer
experience.
 Create a system for customer service analytics to examine feedback data and spot
patterns and places where goods and services could be improved.
 To improve understanding of client wants and preferences, hold focus groups and
customer engagement sessions on a regular basis to collect qualitative input.
4. Environmental Impact Assessment:
 Conduct frequent environmental impact assessments.
 Put in place measures to reduce our influence on the environment, like recycling
programs, energy-efficient production techniques, and sustainable material sourcing.
 Work together with environmental agencies to ensure environmental sustainability
initiatives are transparent and credible through third-party reviews.
5. Supply Chain and Inventory Management:
 Put in place a strong supply chain management system and keep an eye on lead times,
delivery dependability, and supplier performance.
 Stock levels can be optimized by using inventory management software to reduce
excess inventory and avoid shortages.
 Maintain supply chain dependability, quality, and cost-effectiveness by conducting
regular supplier assessments and negotiations.
6. Internal Audit:
 Evaluate internal processes, accounting procedures, and quality assurance guidelines
in detail.
 Verify compliance with industry norms, legal obligations, and corporate policies.
 Check for compliance with accounting rules, financial accuracy, and transparency.
 Evaluate internal controls to find and eliminate possible risks and stop fraud and
inconsistencies.
 Determine redundant tasks and operational bottlenecks and suggest improvements.
 Offer guidance on risk management tactics, guaranteeing preemptive actions for the
stability and expansion of the company.

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3. Marketing Strategies
3.1. Product
We provide state-of-the-art energy storage solutions that are specifically designed to satisfy
the demands of Bangladeshi communities and enterprises. Our offerings include the
installation and integration of cutting-edge energy storage systems, created to effectively and
sustainably store and distribute electricity. We deliver a dependable, continuous power
supply using cutting-edge technology, allowing communities to prosper and businesses to
maximize their operations. Our energy storage services, which prioritize innovation and
environmental responsibility, enable our clients to embrace a more sustainable and greener
future by lowering their carbon footprint and guaranteeing a steady and reliable supply of
energy. This company provides innovative energy storage solutions that revolutionize
Bangladesh's use of electrical energy, whether it is for boosting industrial output or filling up
electricity gaps in rural areas.

3.2. Price
Our energy storage products are premium and creative, therefore a value-based pricing
strategy fits in perfectly. We can set up a pricing structure that accurately represents the
caliber and game-changing potential of our services by highlighting the distinctive value,
dependability, and sustainability that our products offer. With this approach, we can
determine rates by taking into account the apparent value that our solutions offer to our
clients as well as the long-term advantages they provide, such lower operating expenses,
more productivity, and less environmental impact. Additionally, it makes it possible for us to
make continuous investments in R&D, guaranteeing that our products stay at the forefront of
technology. Value-Based Pricing not only establishes us as a market leader and successfully
conveys the value of our services, but it also draws in customers who value innovation and
quality.
3.3. Placement
Our preference is for a multi-channel distribution strategy that will extend our reach and
make us reachable by a wide range of customers. We can successfully access local markets
by working with distributors and authorized dealers who are positioned strategically
throughout important regions of Bangladesh. At the same time, we can reach a wider
audience by building a strong online presence with an easy-to-use and intuitive e-commerce
platform. This audience includes tech-savvy consumers and remote enterprises looking for
energy solutions. In addition, we will become more visible in the energy sector by partnering

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with nearby utility firms and attending trade conferences and exhibitions tailored to our
particular industry. We can establish a smooth and extensively accessible distribution
network by varying our channels and guaranteeing a uniform branding and customer
experience throughout all interactions, thereby establishing our energy storage solutions as
the preferred option.
3.4. Promotion
We will use an Integrated Marketing Communication (IMC) approach in developing our all-
encompassing promotion plan, utilizing a variety of media to effectively communicate our
distinctive value proposition and increase brand awareness.

Digital marketing: Target particular demographics and create leads by utilizing digital
platforms like social media, search engine optimization (SEO), and pay-per-click (PPC)
advertising. Interesting content, such as infographics, movies, and blogs, will highlight our
knowledge and creative solutions.

Public Relations: Develop trusting connections with media outlets, trade journals, and
influential people in the business. Our company's reputation will be improved through press
releases, interviews, and thought leadership pieces that position us as a reliable authority in
the energy storage industry.

Events & Sponsorships: Showcase our state-of-the-art products by taking part in pertinent
industry conferences, seminars, and events. Our dedication to sustainability will be evident
through our sponsorship of neighborhood gatherings and environmentally friendly projects,
which will improve public opinion.

Partnerships and Collaborations: To grow our network and access common clientele, we
should form partnerships with businesses that complement ours, such as construction
companies or suppliers of renewable energy. We will increase our reach through co-branded
campaigns and combined promotional efforts.

Customer Engagement: To personalize communications, put in place a strong customer

relationship management (CRM) system. To establish credibility and trust, we should ask for
feedback via surveys and testimonials and display happy customers' experiences on our
website and marketing materials.

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Conclusion
To sum up, we believe that our mission is to change Bangladesh's energy landscape, not just
to supply energy storage solutions. We are more than just a business; we are the designers of
sustainable development, empowering communities to flourish, businesses to flourish, and
the country to embrace a more resilient, greener future. Our state-of-the-art technology,
steadfast devotion to quality, and passion for innovation put us in the lead in the energy
storage sector.

We bring with us the drive to create a significant impact, the spirit of creativity, and the
determination to overcome obstacles as we set out on our trip. Our energy storage solutions
are more than simply goods; they are agents of change that enable companies to attain
previously unheard-of levels of efficiency, provide communities with dependable electricity,
and make a substantial contribution to Bangladesh's aspiration to become a Smart and
Sustainable nation.

Within the constantly changing energy sector, we are a shining example of dependability,
creativity, and morality. Our unwavering commitment to achieving customer happiness,
technological innovation, and environmental responsibility positions us to completely
transform Bangladesh's energy storage, utilization, and harnessing processes. One energy
storage solution at a time, let's illuminate the way to a more sustainable and brighter
tomorrow.

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References
1. ClarkeEnergy | A Kohler Company. (2023). Energy Storage | Battery Storage |
Renewable Energy Enablement. Retrieved from Kohler | ClarkeEnergy:
https://www.clarke-energy.com/energy-storage/
2. Hydrocarbon Unit, PetroBangla. (2023, March 14). Energy Scenario of Bangladesh
2021-22. Retrieved from Hydrocarbon Unit | Energy & Mineral Resources Division:
http://www.hcu.org.bd/sites/default/files/files/hcu.portal.gov.bd/publications/
da1f3395_2c8f_4608_a48c_d184d5925d45/2023-03-14-07-47-
0d3be29ec0b5cfc0dc6055e8eec23e37.pdf
3. Nasrul Hamid | State Minister for the Ministry of Power, E. a. (2023, March 14). Power
demand rising by about 100MW per day: Nasrul. (T. B. Standard, Interviewer)
4. Power Division, GoB. (2022). Annual Report 2021-22. Dhaka: Power Division,
Government of the People's Republic of Bangladesh.
5. Samir Succar, R. H. (2008, April 08). Compressed Air Energy Storage: Theory,
Resources, And Applications For Wind Power. Energy Systems Analysis Group, p. 15.

(Thank you for taking your time to read this)

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