You Are Excited To See The Possibilities After Finishing The

You Are Excited To See the Possibilities After Finishing The Business

You are excited to see the possibilities after finishing the Business Model Canvas Template. The next step is the development of the BMC slide deck for review by the experienced former project manager mentioned in the Module Four assignment. In the BMC slide deck, you will make educated assumptions (based on research in Marketline, Yahoo Finance, or the company’s website) about your selected company’s resources, partnerships, cost structures (what needs to be paid for), how the product or service will be marketed, value delivery (product sold online, in-store, or both), and the unique value proposition for a specific targeted market segment. All 9 segments of your redeveloped BMC must encompass elements to achieve new product/service feasibility.

Beyond profitability, other key elements that the experienced project manager stressed were diversity, equity, and inclusion (DEI), as well as corporate social responsibility (CSR). In the marketplace, companies that have diverse project teams get varied perspectives that help the overall project. Just as important, companies that “give back” to the communities they serve do better and are supported by millennial buyers—a big target segment for many companies. Financials, DEI, and CSR must be addressed in the funding pitch. You will create a slide deck that will help you expand on your BMC chart in detail as you refine how your selected company will create value for itself while delivering a new product or service for customers.

Complete the Milestone Two Template linked in the Guidelines for Submission section for this assignment. Specifically, you must address the following rubric criteria: Deliver a unique value proposition. Leveraging the blue ocean strategy, what makes the product or service unique? How does it provide a strategic advantage in the marketplace? Answer key business model questions about the customer.

  • Customer acquisitions
  • Revenue models
  • Price points for the product/service
  • Key activities for the value proposition (product or service)

Answer key business model questions about assets, partners, and cost.

  • Assets available
  • Key partners
  • Cost structures

Import your existing business model canvas chart from Module Four. Clarify your business model assumptions. Check your assumptions.

Complete the assumptions chart. Prepare to meet customers. Highlight the materials needed. Update your documentation.

Targeted segment

  • Type of value delivered
  • How the product is unique

Update your business model. Complete any updates to the BMC chart. Articles you can use: (This resource provides an overview of revenue models and can be used to help you choose a model for your product/service.) (This resource dives into the overarching concepts around forecasting sales, cash flow, selling costs, and expected average selling price per sale.)

Paper For Above instruction

The development of a comprehensive Business Model Canvas (BMC) and the subsequent creation of a detailed slide deck are crucial steps for any new product or service launch. These tools help entrepreneurs and business strategists clarify their value propositions, understand customer segments, and formulate effective revenue and cost models. The next phase, as outlined, involves leveraging research, strategic frameworks like the blue ocean strategy, and inclusive business practices to optimize the business model for market success.

In constructing the Business Model Canvas, it is essential to systematically analyze each of the nine segments. Starting with the value proposition, utilizing the blue ocean strategy enables the identification of unique product or service attributes that differentiate the offering. This approach fosters the creation of uncontested market space, minimizing competition while maximizing customer value. For instance, a company might integrate sustainable practices into its product design, creating a differentiation point that appeals to environmentally conscious consumers, thereby gaining a strategic advantage.

Understanding the target customer segment is equally vital. Through research, the business can define specific demographics, preferences, and unmet needs. Developing customer acquisition strategies that might include digital marketing, referral programs, or strategic partnerships ensures a steady flow of new clients. Pricing strategies are crafted based on market analysis, with considerations of perceived value, competitor pricing, and cost structures, to establish optimal price points that balance profitability and market penetration.

Key activities are defined to deliver the value proposition efficiently. These could encompass product development, supply chain management, marketing campaigns, and after-sales support. Clarifying the necessary assets—such as proprietary technology, manufacturing facilities, or skilled personnel—and identifying critical partnerships—suppliers, distributors, or strategic allies—is fundamental for operational success. Cost structures must be meticulously examined to ensure financial sustainability, considering fixed and variable costs and potential economies of scale.

Incorporating diversity, equity, and inclusion (DEI), alongside corporate social responsibility (CSR), enhances the business's broader societal impact. Diverse project teams bring varied perspectives that foster innovation and more effective problem-solving. CSR initiatives resonate particularly with millennial consumers, who value companies that give back to their communities. These elements should be integrated into the business plan and highlighted in the funding pitch to underscore the company's commitment to responsible business practices.

Preparing the assumptions chart helps validate the business model by verifying that each hypothesis aligns with market realities. This process involves iterative testing and refinement, gathering feedback from potential customers, and adjusting strategies accordingly. Materials needed for product delivery, such as raw materials, technology, or packaging, must be identified and planned for to ensure seamless operations.

Finally, the updated business model should reflect any insights gleaned from ongoing research and customer feedback. Regular review and adjustment of the BMC help maintain relevance in a dynamic marketplace. By focusing on delivering distinctive value through innovative strategies, sustainability, and inclusive practices, the business positions itself for long-term success.

References

  • Osterwalder, A., & Pigneur, Y. (2010). Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers. Wiley.
  • Kim, W. C., & Mauborgne, R. (2005). Blue Ocean Strategy. Harvard Business Review, 83(10), 76-84.
  • Forbes. (2022). The Role of Diversity and Inclusion in Business. https://www.forbes.com
  • Porter, M. E. (1985). Competitive Advantage. Free Press.
  • Yoffie, D. B., & Kim, R. (2020). Competing in the Age of AI. Harvard Business Review, 98(4), 118-125.
  • Friedman, M. (1970). The Social Responsibility of Business is to Increase its Profits. New York Times.
  • Schmidt, A. (2021). Integrating CSR into Business Strategy. Journal of Business Ethics, 171, 547-560.
  • Yahoofinance. (2023). Company Financial Data and Market Analysis. https://finance.yahoo.com
  • Marketline. (2023). Industry Reports and Market Analysis. https://www.marketline.com
  • Prahalad, C. K. (2004). The Bottom of the Pyramid: Eradicating Poverty Through Profits. Pearson Education.

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