write a executive summary on this report

Business Report

Mission Statement Making everyday duties effortless one thought at a time. Introduction The world renown innovator, Elon Musk, has taken the business and technology industry by storm. The SpaceX and Tesla Motors CEO has managed to enter groundbreaking territory by co-founding the Neuralink, a device which is designed to fuse human life forms with artificial intelligence, diminishing any pre-existing neurological conditions or spinal cord injuries. Driven by Musk's Inspiration, my team and I have decided to use this invention for a new purpose. Our fusion of AI and human physiology begins with the insertion of the chip into the skull, followed by the implant of electrodes onto the surface of the brain, thus allowing for individuals to complete their daily miscellaneous tasks just by producing a mere thought. With the world gravitating towards an automated society, it's evident that an easier and more efficient lifestyle is what we're craving. With the help of this device, individuals will be able to feed that craving. From shutting your lights while you're in bed, to adjusting your thermostat when you get cold, the Neuralink will allow you to access personal autonomy straight from your mind, putting an end to the daily tedious tasks, forever. SWOT Environmental scanning is defined as: the process of which an organization continually acquires information and identifies potential trends in the market. Therefore, further developing products which fit into the trends being investigated. These trends usually come from 5 forces: social, economic, technological, competitive, and regulatory. After performing an environmental scan of the Canadian market, many innovative trends were identified that impacted the development of the chip. Looking at the social perspective, the Canadian population is found to be growing older, as the baby boomers are now the majority of seniors. Culture has also evolved, as the attitudes and values of consumers have changed. Many Canadians are health conscious now leading them to live a longer life. The growing population of seniors and people living a longer life would benefit from this chip because it would allow them to live their life comfortably. As these baby boomers have aged and life expectancy has increased, this has led to the economic trend of increased earnings for them making these people an important target market. When also analyzing the cost and affordability of the neurochip, the cost of it is expected to be affordable and appealing for such consumers because of their increase in income. From the technological force, there are many trends that have surfaced in the past couple of years. Technology has become more advanced through time and more people are adapting to this as it improves the quality of their life. A recent trend has become the use of smart home systems by many families where appliances and devices can be automatically controlled remotely using another device.

By going further into depth of the process of the product, the main factors that stand out are the strengths, weaknesses, opportunities and threats that come along throughout the development. These are all important factors leading up to the creation of the chip implants that will create a new form of technology and business strategy within the entire market. Strengths When analyzing the strengths of this product, the main strength found is that it makes daily tasks easier for users. The chip can control other appliances and devices from a person's brain and enhances their lifestyle. These tasks can include turning the light on/off without getting up, turning the tv on/off without using the remote, and also allowing the user to access features of their phone without physically holding it or having it nearby. By having an easier routine with the help of the chip, this product is very convenient and extremely beneficial for those who are not proficient in technology as well. For example, seniors or the elderly and those who have trouble with dexterity such as people who are paralyzed or paraplegic, are also the main target market for this product. This chip will provide assistance for senior users and users with disabilities in their everyday life allowing them to live comfortably. Since this chip is more advanced and efficient technology designed to aid people with activities, it was created with a long-lasting battery life which lasts up to 9 years. Unlike any other electronic device, it is not necessary for the chip to be repetitively charged as it is a neural implant invented with the focus of avoiding everyday hassles like this making it a reliable product. Overall, this product is designed to benefit people's lives; especially those who have trouble with movement in their everyday life as it allows them to multitask efficiently with this new and advanced piece of technology. Weaknesses Although there are many strengths in this product, there are a few factors of weaknesses that come along with it. Since this chip is an electronic device, like other electronic devices there is the problem of the breach of security and the user's privacy being exposed, because of the possibility of the device being hacked. However, in order to avoid any outside sources from gaining unauthorized access, there are strict guidelines to follow to avoid issues like this. Another weakness is that this product might require users to buy additional items, for example, smart speakers or items that would be compatible with the chip. As the chip will be kept up to date or will be constantly updated, users may have to purchase the latest additional equipment that will be compatible with the product. Also, the fact that this chip is going to be placed in the user's brain and will be able to control certain activities can often make consumers uncomfortable. It will draw them away from the product since it is new in the market and most consumers will be unfamiliar with what this chip is and how it operates. Opportunities

When looking at this product, the fact that it is one of a kind is a strong factor that indicates a more likeliness to opportunities. Even though the novelty of this product was mentioned before as a weakness, it can also be noted as an opportunity as well. Currently, there are no other companies who have this product, making it the first neural implant that can control home appliances and devices. This is a one-of-a-kind product that is new in the market which will have more opportunities to grow and to be taken further to the next level along the process. Since this product is designed to help physically disabled individuals, it is also not prone to error like other electronic devices are because of how carefully it is designed to assist with specific features. The product is very advanced and also has a focus of assisting physically disabled people in their day to day life from their brain, being designed to be more reliable unlike other devices that experience technical issues every now and then. Individuals who use the chip will have access to advanced and beneficial technology without having to worry about any malfunctions. With that being said, research and development in this market is a big opportunity as many other products like this can be created to benefit others which will allow the market to grow, and use technology to benefit all services. Threats This product is still new to the market and in the introduction stage, which means that there is no direct competition yet, however there is indirect competition present. As mentioned earlier, there are several smart home systems that are commonly used now, such as Google Nest or Alexa. These systems serve a similar purpose as the chip, but do not have a certain target market, whereas the chip functions differently and is more advanced as well as made to specifically target physically disabled users. By having a smaller target market, it can become harder to gain the same amount as users as other indirect competitor products like Google Nest and Alexa, however by having a specific target market allows us to focus on changing the health industry as well as the market.

Conclusion With our inspiration deriving from Elon Musk's efforts to create a device which would cure many neurological health implications, our purpose remains different as we are not set out to reinvent the wheel, rather, to coexist in an industry where we can revolutionize the world of artificial intelligence and human physiology. Our chip is designed to help society function in the quickest and most efficient way possible, by allowing them to control the world around them with the power of their mind. By focusing on the needs of our consumers, we allowed ourselves to create a product which is both affordable and allows individuals to unlock the key to everyday personal autonomy.