2043IBA: Entrepreneurship and New Business Ventures - Business Assignment Help

Assignment Task:

Assessment 1: Original Business Model Canvas (BMC). 

Assessment Description

This is an individual assignment. Students will develop and create an initial business model canvas based on a solution to a problem or challenge identified through critical factors of a key trend in a specific industry or at an intersection of two industries. This report will: 

1. Provide a description and assessment of a key trend focusing on consumers unmet needs, specifically analysing the industry/industries that is impacted by the key trend, and identify a challenge or opportunity within the key trend. 

2. Create a novel response/recommendation to the challenge/opportunity identified within key trend. More specifically, this potential solution/response/recommendation should be at least half a page, describing a novel response or solution. In assessing this potential response indicate how it differs (i.e. its innovativeness) from existing offerings, and potential competitors. You will need to provide specific reasons on how it differs from competitors offerings or other solutions that customers may be currently using.

3. Develop a comprehensive picture of your target customers based on a Value Proposition Canvas OR Persona OR Empathy Map.

4. Finally, this response will be sketched out in a business model canvas. This section should include the one-page template and a one-page discussion of the business model canvas innovation (e.g freemium) and its nine sections specifically evaluating and focusing on the following three sections of the BMC: the value proposition, revenue (how the idea is going to generate money) and costs (all the costs and expenses your company will incur while operating your business model). 

The BMC should reflect critical analysis, appropriate application of relevant course content, as well as demonstrating in-depth creative problem-solving. The assessed copy will contain references in the report and a reference page to demonstrate the research you have done and material from other academic and practitioner-based sources (where applicable).

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