The Purpose Of This Assignment Is To Create A Busines 256561 ✓ Solved
The Purpose Of This Assignment Is To Create A Business Model Canvas H
The purpose of this assignment is to create a business model canvas, highlighting how human-centered design and technological advances can be used to solve real-world business problems. This individual assignment is based on the group decision to move forward with a viable hypothesis from the Topic 2 CLC assignment. Expand upon the hypothesis to create an improved hypothesis, based upon at least five sources. Build out each portion in the lean business model canvas. Be sure to include your time and potential expenses within Key Partners, Key Activities, and Key Resources.
Based on your individual hypothesis and developed persona that was pitched to the group, develop a summary of your canvas model for submission and feedback. Within your word summary of the business model canvas, include research from at least five sources. Your final deliverable in Topic 7 will contain both a PDF of the business model canvas and a Word document summary. For this assignment, you will only create your draft Word document, which will contain a summary of your business model canvas. Within the summary, include your ideas for key partners, key activities, key resources, value propositions, customer relationships, customer segments, channels, cost structure, and revenue streams.
Your summary will receive peer feedback in Topic 6. While APA style is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
Sample Paper For Above instruction
Creating a comprehensive business model canvas (BMC) that effectively integrates human-centered design and technological innovations is essential for addressing real-world business challenges. This paper presents an individual development of a BMC based on an improved hypothesis derived from group input, supported by at least five scholarly sources. The focus of this analysis is on leveraging customer insights, technological resources, and strategic partnerships to develop a feasible and innovative business approach.
Introduction
The evolving landscape of business necessitates innovative models that prioritize customer needs while harnessing technological advancements. Building on the group’s hypothesis, this individual assignment refines the initial idea into an improved and research-backed hypothesis. The aim is to map out a viable business ecosystem that aligns with human-centered design principles and contemporary technology trends, ensuring sustainability and scalability.
Developing the Hypothesis
The initial hypothesis centered around developing a mobile platform for sustainable urban transportation. Based on further research, this hypothesis was expanded to include a comprehensive approach that integrates real-time data analytics, user engagement strategies, and strategic partnerships with local governments and technology providers. Using at least five credible sources—including scholarly articles on urban mobility, technology adoption, and user-centered design—this refined hypothesis emphasizes creating an accessible, efficient, and environmentally friendly transportation solution.
Key Components of the Business Model Canvas
Customer Segments
The primary customer segments include urban commuters, environmentally conscious individuals, and local governments seeking sustainable transportation alternatives. Secondary segments encompass tourists and businesses looking for efficient employee commute options. Understanding these segments through personas and customer journey mapping informs targeted value propositions and channels.
Value Propositions
The value propositions focus on providing eco-friendly, affordable, and user-friendly transportation options. The platform offers real-time data, flexible payment methods, and personalized route suggestions, enhancing overall user experience and environmental impact. These align with insights from urban mobility literature emphasizing sustainability and technology adoption (Shaheen & Cohen, 2013; Cervero, 2017).
Channels
Distribution channels include a dedicated mobile app, social media marketing, partnerships with local transportation agencies, and community engagement events. Digital channels facilitate real-time communication and user feedback, essential for iterative improvements aligned with human-centered design.
Customer Relationships
Building trust and engagement through personalized communication, loyalty programs, and responsive customer support is vital. Regular user surveys and feedback loops enable continuous optimization of the platform, as supported by research emphasizing active customer engagement in service innovation (Vargo & Lusch, 2016).
Key Resources
Major resources include the mobile app platform, data analytics infrastructure, human capital (developers, data scientists), and strategic partnerships with technology firms and municipal agencies. Incorporating cost considerations, the initial investment in technology development and ongoing maintenance are highlighted.
Key Activities
Focused on platform development, data collection and analysis, partnership management, marketing, and customer support. Time and expenses are allocated across these activities to ensure operational efficiency and alignment with customer needs (Osterwalder & Pigneur, 2010).
Key Partners
Partnerships with local governments, technological providers, transit agencies, and community organizations. These collaborations facilitate access to infrastructure, funding, and user base expansion, crucial for scaling the business.
Cost Structure
Cost elements encompass technology development and maintenance, marketing, personnel, partnership management, and administrative expenses. A focus on scalable technology and strategic partnerships helps manage costs effectively.
Revenue Streams
Revenue generation stems from user fares, subscription models, advertising, and potential grants or subsidies from government agencies committed to sustainability initiatives.
Conclusion
Developing a validated business model canvas rooted in human-centered design and technological innovation holds significant promise for addressing urban transportation challenges. Supported by scholarly research, this framework highlights the importance of strategic partnerships, customer-centric value propositions, and sustainable revenue streams. Future work includes refining the hypotheses with pilot testing and stakeholder engagement to enhance the model's viability.
References
- Cervero, R. (2017). Transport Infrastructure and Urban Development. Routledge.
- Osterwalder, A., & Pigneur, Y. (2010). Business Model Generation. Wiley.
- Shaheen, S., & Cohen, A. (2013). Advancing sustainable transportation: The role of technology and policy. Transportation Research Record, 2384, 21–29.
- Vargo, S. L., & Lusch, R. F. (2016). Service-Dominant Logic: Clarifications and research directions. The Journal of Service Research, 19(3), 242–259.
- Cohen, S., & Kietzmann, J. (2014). Ride on! Mobility business models for the sharing economy. Organization & Environment, 27(3), 279–296.
- Smith, A., & Anderson, M. (2019). Urban mobility and the sustainable city: Trends and innovations. Journal of Urban Planning and Development, 145(2), 04019007.
- Shen, Q., et al. (2020). Human-centered design approaches in urban mobility solutions. Transportation Research Interdisciplinary Perspectives, 7, 100211.
- Miller, K., et al. (2018). Technology adoption in smart cities: Challenges and opportunities. IEEE Transactions on Smart Grid, 9(6), 6150–6158.
- Kim, T., & Park, S. (2021). Enhancing customer engagement through digital platforms in urban transportation. Transportation Research Part A: Policy and Practice, 144, 73–87.
- Brown, P., & Smith, L. (2015). Strategic partnerships for sustainable urban development. Journal of Partnership Studies, 4(2), 123–138.