King Saud University

College of Business Administration

Business department

BUS 303 – Enterpreneurship and Innovation

Attendcheck
Student Name ID number
Leena Alawwad 441201465
Taghreed alharbi 441201721
Ruba Alswailim 441201584
Reema alangari 441925239
Shatha alammar 437201423

Supervised by: Ms. Hazami Halwani

Section Number: 58724

First semester 2021-2022
 Content Table

BRIEF EXPLANATION ............................................................................................................ 3

NEW BUSINESS CONCEPT ..................................................................................................... 4

PRODUCT .................................................................................................................................... 4
TARGET MARKET........................................................................................................................ 4
THE BENEFIT OF THIS PRODUCT .................................................................................................. 4
MANAGEMENT TEAM .................................................................................................................. 4

SURVEY RESULTS:......................................................................................................................... 5

FIRST SCREEN ......................................................................................................................... 7

PART 1: STRENGTH OF BUSINESS IDEA................................................................................................... 7

PART 2: INDUSTRY-RELATED ISSUES...................................................................................................... 8
PART 3: TARGET MARKET AND CUSTOMER-RELATED ISSUES....................................................................... 8
PART 4: FOUNDER- (OR FOUNDERS-) RELATED ISSUES............................................................................... 9
PART 5: FINANCIAL ISSUES ................................................................................................................. 9
OVERALL POTENTIAL ....................................................................................................................... 10
SUMMARY.................................................................................................................................... 10

BUSINESS MODEL ................................................................................................................. 11

CORE STRATEGY ....................................................................................................................... 11

OPERATIONS ............................................................................................................................. 11
RESOURCE ................................................................................................................................ 11
FINANCIALS .............................................................................................................................. 11

ATTRACTIVENESS OF THE INDUSTRY ........................................................................................... 12

TRADE ASSOCIATIONS ................................................................................................................ 12

PROFITABILITY OF THE INDUSTRY ............................................................................................... 13

TOP COMPETITORS .................................................................................................................... 13

COMPETITIVE FACTORS .............................................................................................................. 14

ASSUMPTIONS AND FORECAST................................................................................................... 15

BREAK-EVEN POINT ........................................................................................................................ 16

PRO-FORMA FINANCIAL STATEMENTS ........................................................................................ 17

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A- PRO FORMA INCOME STATEMENT FOR ATTENDCHECK...................................................................... 17
B- PRO FORMA BALANCE SHEETS FOR ATTENDCHECK........................................................................... 17
C- PRO FORMA STATEMENT OF CASH FLOWS FOR ATTENDCHECK ............................................................ 17

REFERENCES .............................................................................................................................. 19

2
Brief explanation
As college students, we always struggle between classes with a short break
between classes. It always takes a long time to take students attendance during
the class, which sometimes makes the students late for the next class. So, we
thought about making an application that helps both lecturers and students for
saving their time and effort.

The application will be connected to the Educate system by student ID. The
lecturers will have their courses and their sections, each section will have a list
of students’ names, and a QR code for each class, the lecturers will display the
QR for the students to scan it.
Automatically the application will take the attendance for every student and link
it with the Educate system.

This is a simple application that can solve many attendance problems, saving
time and effort, and will be super useful for universities.

3
New Business concept

Product
Our new project is an application that helps students and faculty members at
King Saud University in taking attendance. The faculty member divides the
students according to the section in the application at the end of the class, the
teacher displays a QR code via the projector the student scans this code, and it
marks them as attended immediately.

Target Market
At first our target market will be all focused-on students and faculty members at
King Saud University. But after we succeed and grow, we want to in all
universities in Riyadh and Saudi Arabia. And companies and government sector
after that.

The benefit of this product

This application helps in solving a big problem faced by students because there
is only ten minutes between classes. Preparation takes a lot of time and students
are usually late for the second class and this application solves this problem.

Management Team
This project is led by five students from King Saud University, all of whom
have experience of not less than fourteen years as students, so they all have the
desire and ambition for this project to succeed.

4
Survey Results:
We did a Survey that targeted King Saud University students to see a good view
of students opinions.

Attendance takes a long time Ten minutes is enough time between

classes

The normal method of attendance is Do you think scanning a QR code for

efficient attendance is easier?

5
Do you think that it will be easier for the facility to take attendance from a scan?

6
First Screen
From “Preparing Effective Business Plans” by Bruce R. Barringer

Part 1: Strength of Business Idea

Low Potential (-1) Moderate Potential (0) High Potential (+1)

1. Extent to which the Weak Moderate Strong

idea:
• Takes advantage of
an environmental
trend
• Solves a problem
• Addresses an
unfilled gap in the
marketplace

2. Timeliness of entry to Not timely Moderately timely Very timely

market
3. Extent to which the Low Medium High
idea “adds value” for
its buyer or end user

4. Extent to which the Very satisfied Moderately satisfied Not very satisfied
customer is satisfied or ambivalent
by competing
products that are
already available

5. Degree to which the Substantial changes Moderate changes Small to no changes

idea requires required required required
customers to change
their basic practices
or behaviors

7
Part 2: Industry-Related Issues
Low Potential (-1) Moderate Potential (0) High Potential (+1)

1. Number of Many Few None

competitors

2. Stage of industry life Maturity phase or Growth phase Emergence phase

cycle decline phase
3. Growth rate of Little or no growth Moderate growth Strong growth
industry
4. Importance of “Ambivalent” “Would like to have” “Must have”
industry’s products
and/or services to
customers
5. Industry operating Low Moderate High
margins

Part 3: Target Market and Customer-Related Issues

Low Potential (-1) Moderate Potential (0) High Potential (+1)

1. Identification of Difficult to identify May be able to identify Identified

target market for the
proposed new venture
2. Ability to create Unable to create May or may not be able Can create
“barriers to entry” for to create
potential competitors

3. Purchasing power of Low Moderate High

customers
4. Ease of making Low Moderate High
customers aware of
the new product or
service
5. Growth potential of Low Moderate High
target market

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Part 4: Founder- (or Founders-) Related Issues
Low Potential (-1) Moderate Potential (0) High Potential (+1)
1. Founder or founders No experience Moderate experience Experienced
experience in the
industry
2. Founder or founders’ No skills Moderate skills Skilled
skills as they relate to
the proposed new
venture’s product or
service
3. Extent of the founder None Moderate Extensive
or founders
professional and
social networks in the
relevant industry
4. Extent to which the Weak Moderate Strong
proposed new venture
meets the founder or
founders’ personal
goals and aspirations

5. Likelihood that a Unlikely Moderately likely Very likely

team can be put
together to launch
and grow the new
venture

Part 5: Financial Issues

Low Potential (-1) Moderate Potential (0) High Potential (+1)
1. Initial capital High Moderate Low
investment
2. Number of revenue One Two to three More than three
drivers (ways in
which the company
makes money)
3. Time to break even More than two One to two years Less than one year
years
4. Financial Weak Modest Strong
performance of
similar businesses
5. Ability to fund initial Low Moderate High
product (or service)
development and/or
initial startup
expenses from
personal funds or via
bootstrapping

9
Overall Potential

Each part has five items. Scores will range from -5 to +5 for each part. The score is a guide—
there is no established rule-of-thumb for the numerical score that equates to high potential,
moderate potential, or low potential for each part. The ranking is a judgment call.

Score Overall Potential of the Suggestions for

(-5 to +1) Business Idea Based on Improving the
Each Part Potential

Part 1: High potential 

Strength of Business Moderate potential 
Idea Low potential 

Part 2: High potential 

Industry-Related Moderate potential 
Issues Low potential 

Part 3: High potential 

Target Market and Moderate potential 
Customer-Related Low potential 
Issues

Part 4: High potential  Find an app expert,

Founder- (or Moderate potential  learn more about it
Founders-) Related Low potential  ourselves.
Issues

Part 5: High potential 

Financial Issues Moderate potential 
Low potential 

Overall Assessment High potential 

Moderate potential 
Low potential 

Summary—briefly summarize your justification for your overall assessment:

Apps make our day-to-day tasks easier, this one does just that as well, it fixes an issue for an
already existing consumer base. With minimum financial requirement as it performs a very
basic task. Potentially it can bring in substantial revenue from ads.

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Business Model

Core strategy
Business Mission Basis of Differentiation
Making an application that serves the More organized, easier to prepare,
teacher and the student in preparation shortens time

Target Market Product/Market scope

Universities, companies, government Application to prepare
sector

Operations
Channels Product production
We can communicate through an A n application that allows the teacher to
application that connects the student and take the attendance.
the teacher
Key Partners
1. Teacher
2. Students

Resource

Core competency Key Assets

That competitors cannot easily imitate. Services are available to teachers and
It can be widely reused in many products students at no cost.
and markets.
Financials
Revenue Streams
King Saud University

Cost structure Financing/funding

Irrelevant Costs: King Saud University
Modification of the external program
design to make the program easier
Variable cost: ads, Supplies needed for
machines that assist in the manufacture of
the product
Fixed costs: employee salaries, Office
Rent, fasting program

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Attractiveness of the industry
In general, creating an app to solve an issue is a new concept, and to be more
specific we do not have many competitors who specialize in this field. As a
result, we have the benefit of being the first movers. KSU will be our first
launch, because it will be easier for us to make any necessary adjustments. After
that, we may broaden the scope and include additional possibilities that will
appeal to institutions, businesses, and even ministries.

Trade associations
Make a list of the premier trade associations, trade shows, and trade journals
associated with your industry.

1\ The system designed for students to attend. A smart solution to track and
prepare students, teachers and visitors using radio recognition technology
anytime and anywhere
automatically without any human intervention, as soon as individuals are on
site.
The user can specify events such as graduation ceremonies, exhibitions or
conferences, even with people outside the campus, such as visitors, for example.
2\ Al-Madar Technical Corporation provides a fingerprint system to record the
attendance and departure of students and teachers electronically with SMS alerts
on the guardian’s mobile in the case of the students’ or the teacher’s fingerprints
in the case of the teachers’ fingerprints.
3\ This article shows the importance of registering class attendance and how it
might affect certian student who get “lost” among thier classmates.
As Schools Go Remote, Finding ‘Lost’ Students Gets Harder
4\ Technology in schools The application of the student preparation device and
the student’s registration and entry into the school is an argument in the
application of distance education and electronic training
5\ The application of one of the Saudi schools to take attendance through the
eye print and check the status of immunization

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Profitability of the industry
According to our research about education (Taking attendance) Industry
After a quick research about our idea and if it is realistic we found couple of
applications that provide a similar service, so we looked it up and try to collect
some of their weaknesses and provide in better way. Some of the applications
has complicated applications, and others has tons of steps to join as a instructor
or even as a student. We are willing to make is faster and easier for all users.

Top competitors
Top 5 direct, indirect, and future competitors:
1. Direct, KSU students
2. Direct, Wifi attendance
3. Indirect, Traditional paper attendance
4. Future competitors, Blackboard
5. Future competitors, investors who have the financial ability to create a
competitive app

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Competitive factors

Name Attendcheck Microsoft blackboard Wifi

attendance

Speed of Advantage Even Even Disadvantage

service

price Even Advantage Advantage Advantage

Clarity of Advantage Advantage Even Disadvantage

the usage
page

Easy to use Advantage Disadvantage Advantage Disadvantage

Short time Advantage Disadvantage Disadvantage Advantage

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Assumptions and forecast
Expectations we might face
1. On vacations seasons we expect our revenue or subscriptions will be low.
2. We expect our subscribers will be a double of the first year in almost 4
years from our first year in the market.
3. One of the challenges we might face is Program lagging if a large number
of users used it in the same time.

The company's sales increased at a rate of about 15 percent per year from 2016
to 2017 as the company became established and more people became aware of
its brand. In forecasting sales for 2019 and 2020 The company's sales increased
at a rate of about 30 percent .
Sales increased due to the facilities and benefits provided by the code. The
beneficiary of the code is the student and the doctor, shortening the time. After
witnessing success at King Saud University, it is expected that it will be
available in Riyadh universities

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3
Break-even Point

The point at which the total revenue received equals the total costs associated
with the project or the sale of the product. We will use break-even analysis as
one way to determine if the proposed initiative is feasible. The formula for
break-even analysis is as follows: total fixed costs / (price - average variable
costs)
.105,000
per year, the average price for is $10.000, and the variable cost is $3,000,
then 105,000
(total fixed costs)/(+10.000 +-3.000) = 15 units

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Pro-forma Financial statements

A- Pro forma Income statement for 2019

ATTENDCHECK 2018 projected
net sales 27600$ 35880$
cost of sales 5520 7176
gross profit 22080 28704
operating expenses
selling 100000 130000
depreciation 2500 3000
operating income 10000 30000
other income
interest income 2000 3000
interest income -3000 -2500
other income (expense), net 1500 2000

B- pro forma Balance Sheets for

ATTENDCHECK
current assets
cash 20000$ 35000$
account receivable 6000 10000
inventories 2000 4000
liabilities and shareholders' equity
current liabilities
accounts payable 5000 10000
accrud expenses 2000 4000
total current liabilities 7000 14000
long-term liabilities
long-term debt 10000 20000
total long-term liabilities 10000 20000
total liabilities 17000 34000

C- Pro forma statement of cash flows

for ATTENDCHECK
cash flow from operating activities
net income 50000$ 55000$
changes in working capital
depreciation 2500 3000
increase(decrease) in accounts
receivable 2000 -2900

17
increase(decrease) in accrude expenses 1000 2000
increase(decrease) in inventory 2000 5000
increase(decrease) in accounts payble -1500 1000
total adjustments 6000 8100
net cash provided by operating
activities 56000 63100

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 References

1/ https://www.modtechno.com.sa/student-attendance-solution/
2/https://youtu.be/PrFSFYFHbVM
3/https://www.nytimes.com/2020/09/22/us/schools-covid-attendance.html.
4/https://namaa4all.wordpress.com/2018/01/09/-‫الطالب‬-‫تحضير‬-‫جهاز‬-‫تطبيق‬-‫التقنية‬
‫وتسجي‬/
5/https://youtu.be/6eEerD3nXbs

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