Using the Business Model Canvas to visualizing the resources needed for a new business opportunity that youve identified to develop a new start-up v

The Business Model Canvas

Revenue Streams

Channels

Customer SegmentsValue PropositionsKey ActivitiesKey Partners

Key Resources

Cost Structure

Customer Relationships

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DesigneD by: Business Model Foundry AG The makers of Business Model Generation and Strategyzer

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What are the most important costs inherent in our business model? Which Key Resources are most expensive? Which Key Activities are most expensive?

is your business more Cost Driven (leanest cost structure, low price value proposition, maximum automation, extensive outsourcing) Value Driven (focused on value creation, premium value proposition)

sample characteristics Fixed Costs (salaries, rents, utilities) Variable costs Economies of scale Economies of scope

Through which Channels do our Customer Segments want to be reached? How are we reaching them now? How are our Channels integrated? Which ones work best? Which ones are most cost-efficient? How are we integrating them with customer routines?

channel phases 1. Awareness

How do we raise awareness about our company’s products and services? 2. Evaluation

How do we help customers evaluate our organization’s Value Proposition? 3. Purchase

How do we allow customers to purchase specific products and services? 4. Delivery

How do we deliver a Value Proposition to customers? 5. After sales

How do we provide post-purchase customer support?

For what value are our customers really willing to pay? For what do they currently pay? How are they currently paying? How would they prefer to pay? How much does each Revenue Stream contribute to overall revenues?

For whom are we creating value? Who are our most important customers?

Mass Market Niche Market Segmented Diversified Multi-sided Platform

What type of relationship does each of our Customer Segments expect us to establish and maintain with them? Which ones have we established? How are they integrated with the rest of our business model? How costly are they?

examples Personal assistance Dedicated Personal Assistance Self-Service Automated Services Communities Co-creation

What Key Activities do our Value Propositions require? Our Distribution Channels? Customer Relationships? Revenue streams?

catergories Production Problem Solving Platform/Network

What Key Resources do our Value Propositions require? Our Distribution Channels? Customer Relationships? Revenue Streams?

types of resources Physical Intellectual (brand patents, copyrights, data) Human Financial

Who are our Key Partners? Who are our key suppliers? Which Key Resources are we acquairing from partners? Which Key Activities do partners perform?

motivations for partnerships Optimization and economy Reduction of risk and uncertainty Acquisition of particular resources and activities

What value do we deliver to the customer? Which one of our customer’s problems are we helping to solve? What bundles of products and services are we offering to each Customer Segment? Which customer needs are we satisfying?

characteristics Newness Performance Customization “Getting the Job Done” Design Brand/Status Price Cost Reduction Risk Reduction Accessibility Convenience/Usability

types Asset sale Usage fee Subscription Fees Lending/Renting/Leasing Licensing Brokerage fees Advertising

fixeD pricing List Price Product feature dependent Customer segment dependent Volume dependent

Dynamic pricing Negotiation (bargaining) Yield Management Real-time-Market

strategyzer.com

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Entrepreneurship and Small

Business Ventures

Lecture 14

Revision and Assessment Support

Key Area

Idea

 Action

Business Plan

(Business

Model Canvas)

Strategy

Project

Management

Psychology of

Entrepreneur

Networking

Creativity,

Innovation &

Learning

Corporate

Social

Responsibility

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Sustainability

Role of

Government

Pitching &

Presentation

SelfReflection &

Understanding 2021/22 2

Assessment

2021/22 3

Individual coursework (100%): 2000 Word Count (+/ – 10 %, excluding cover page, appendix and references)

PART I (50%): Using the Business Model Canvas to visualizing the resources

needed for a new business opportunity that you’ve identified to develop a new start – up venture based in the UK.

PART II (50%): Evaluate yourself and illustrate, to what extent, you enjoy being an entrepreneur.

Critical thinking and synthesis

** Your answer must support by relevant theories / frameworks / concepts and examples **

Submission deadline: by 12:00 noon Tuesday 26th April 2022

Key

The new business?

Resources needed  Business Model Canvas (canvas + articulations)

Self evaluation: enjoy being an entrepreneur?

2021/22 4

2021/22 6

Marking Criteria Criteria Grade descriptors 70 and above 60-69 50-59 40-49

Shows an Clear demonstration of a Clear demonstration of a Demonstration of a critical Provides evidence of some understanding of sophisticated, critical and well-developed, critical and and substantial critical understanding of theory and concepts, thorough understanding of comprehensive understanding of business business opportunity and an ability to business opportunity understanding of business opportunity identification identification and the critically assess identification and the opportunity identification and the elements of business elements of business plan them.

elements of business plan and the elements of plan with appropriate with a few appropriate

Weighting 30% with substantial business plan with good references. references. references. references.

Critical Thinking, High degree of ability to Competent ability to Analysis is evident with some Mostly descriptive, with

Analysis and structure and synthesize systematically analyze and reliance on description. minimal analysis evident. Synthesis

Skills. information and argument synthesize information. Some confusion but most Limited coherent argument that provides

clarity Analysis is relevant and argument is relevant and that lacks focus and

Weighting 30%

throughout the work. effective. Argument is well adequate. direction.

Analysis is appropriate and sustained, structured and precise and supported by legitimate. original argument.

Supports arguments

Excellent relevant

Good relevant

examples are

Appropriate

relevant Some

relevant examples are

with clear, effective

examples are

evident, evident,

clearly articulated.

examples are

evident and evident.

examples.

exceptionally

clearly articulated.

articu

lated

and

evi

den

ced W

e i g h t i n g 2 0 % t o t h e q u e s

tions.

Overall Structure Exceptionally competent Well expressed. Clear and Well expressed. Clear and Adequately

expressed but and Presentation and fluent use of appropriate use of appropriate use of language. some inconsistencies

expression. Confident and language. Appropriate Appropriate citation and apparent. Adequate use of Weighting 20%

excellent use of language. citation and references references format. language. Appropriate

Appropriate citation and format. citation and references references format. format.

2021/22 30-39

Work does demonstrate evidence a partial but uncritical understanding of business opportunity identification and the elements of business

plan and there is limit references.

Inadequate evidence of analysis and ability to develop an effective argument.

Limited evidence.

Deficiencies in expression.

Inconsistent and

inadequate use of

language. Inappropriate

citation and references

format.

29 and below

Work does not

demonstrate

understanding of business

opportunity identification

and the elements of

business plan and there is

absence of references.

No evidence of analysis

and ability to develop an

effective argument.

No evidence.

Very poor and mostly inarticulate and incomprehensible. Inappropriate citation and references format.

5

2021/22 8

Source Credibility

Academic journals in the ENT and SBM area  Strategic Entrepreneurship Journal

 Entrepreneurship, Theory & Practice

 Journal of Business Venturing

 Entrepreneurship and Regional Development

 International Small Business Journal

 Small Business & Enterprise Development

 Journal of Small Business Management

 International Journal of Entrepreneurial & Behavioural

Research

 Family Business Review

** high rating journals in other subject area are also applicable **

 Databases / Reports (e.g. government, industry organisations, consultancy firms)

 Media

MG3009 Entrepreneurship and Small Business Ventures

2021/22 10

General

Reminder  Evidences (theories/framework, research findings,

statistics, consultancy/industry reports, market trench/analysis data/examples) must be presented to support your arguments

 BMC is mandatory in PART I. You can use the BMC template provided or draw your own one

 Introduction and conclusion is not a must

 The new venture must be based in the UK

 Appropriate citation and reference

 No standardised structure and format need to be followed  Please state your word count at the end of the references

 Will not comment on assignment draft but questions are always welcome

 Feedback is not always attached to a mark but receive in various formats: verbally or via written comments, provided to individuals or groups during lectures, seminars, office-hours, via assessment / coursework / exam feedback sheets,

assessment clinics and other interactions

2021/22 7

2021/22 12

Assessment & Feedback Guide

Step 1

Setting assessment according to Higher Education Quality Assurance Standards

Step 2

Pre – assessment support lecture / (

seminar / office hours / Q&A session)

Step 3

Marking ( initial marking and scrutinizes)

Step 4

Post – assessment support

Step 5

Board of Examiners ratification

9

2021/22 14

( credit: www.enicbcmed.eu )

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Objective of the assessment

1. Demonstrate an understanding of the theories surrounding SME development/growth/survival and how they relate to the wider environment of business

support and economic development.

2. Assess the relevance and impact of Government initiatives in relation to the needs of SMEs, especially during start up phases.

3. Develop and evaluate business idea and plan taking into account issues such as resources management, business/market research, team management and

presentation.

4. Demonstrate critical self-reflection and self-evaluation of their personal development through experiences and team activities.

Description of the Assessment

Individual Assignment (100%)

Word limit: 2000 words (+/-10%, excluding cover page, appendix and references) **

please state your word count at the end of the references **

PART I (50%):

Using the Business Model Canvas to visualizing the resources needed for a new business opportunity that you’ve identified to develop a new start-up

venture based in the UK.

PART II (50%):

Evaluate yourself and illustrate, to what extent, you enjoy being an entrepreneur.

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** Your answer in each of the two parts must relate to relevant theories/frameworks/concepts and examples. **

UG mark bands, degree equivalent and grade point bands [Senate Regulation 2] are:

Indicative Mark Band Degree class equivalent Grade Grade Point

90 and above 1 A* 17

80-89 1 A+ 16

73-79 1 A 15

70-72 1 A- 14

68-69 2.1 B+ 13

63-67 2.1 B 12

60-62 2.1 B- 11

58-59 2.2 C+ 10

53-57 2.2 C 9

50-52 2.2 C- 8

48-49 3 D+ 7

43-47 3 D 6

40-42 3 D- 5

38-39 Fail E+ 4

33-37 Fail E 3

30-32 Fail E- 2

29 and below Fail F 1

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Criteria Grade descriptors

and above 60-69 50-59 40-49 30-39 and below

Shows an understanding of theory and concepts, and an ability to critically assess them.

Weighting 30%

Clear demonstration of a sophisticated, critical and

thorough

understanding of

business

opportunity

identification and

the elements of

business plan with

substantial

references.

Clear demonstration of a well-developed, critical and comprehensive understanding of business opportunity identification and the elements of business plan with good references.

Demonstration of a

critical and substantial understanding of business opportunity identification and the elements of business plan with appropriate references.

Provides evidence of some critical understanding of business opportunity identification and the elements of business plan with a few appropriate references.

Work does demonstrate evidence a partial but uncritical understanding of business opportunity identification and the elements of business plan and there is limit references.

Work does not demonstrate understanding of business opportunity identification and the elements of business plan and there is absence of references.

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Supports

arguments with clear, effective examples.

Weighting 20%

Excellent relevant

examples are

evident,

exceptionally clearly

articulated and

evidenced to the

questions.

Good relevant

examples are

evident, clearly

articulated.

Appropriate

relevant examples

are evident and

articulated.

Some relevant

examples are

evident.

Limited evidence. No evidence.

Overall

Structure and

Presentation

Weighting 20%

Exceptionally

competent and

fluent use of

expression.

Confident and

excellent use of

language.

Appropriate citation

and references

format.

Well expressed. Clear and appropriate use of language. Appropriate citation and references format.

Well expressed. Clear and appropriate use of language. Appropriate citation and references format.

Adequately expressed but some inconsistencies apparent. Adequate use of language. Appropriate citation and references format.

Deficiencies in expression. Inconsistent and inadequate use of language. Inappropriate citation and references format.

Very poor and mostly inarticulate and incomprehensible. Inappropriate citation and references format.

Critical

Thinking,

Analysis and

Synthesis Skills.

Weighting 30%

High degree of

ability to structure

and synthesize

information and

argument that

provides clarity

throughout the

work. Analysis is

appropriate and

precise and

supported by

original argument.

Competent ability to

systematically

analyze and

synthesize

information.

Analysis is relevant

and effective.

Argument is well

sustained,

structured and

legitimate.

Analysis is evident

with some reliance

on description.

Some confusion but

most argument is

relevant and

adequate.

Mostly descriptive,

with minimal

analysis evident.

Limited coherent

argument that lacks

focus and direction.

Inadequate

evidence of analysis

and ability to

develop an effective

argument.

No evidence of analysis

and ability to develop

an effective argument.

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