Business Idea Analysis

Running head: BUSINESS IDEA ANALYSIS
BUSINESS IDEA ANALYSIS
Name of the Student
Name of the University
Author Note

BUSINESS IDEA ANALYSIS1
Table of Contents
Introduction....................................................................................................................2
Explanation of customer problem that has to be solved................................................2
Benefits to be generated by the idea..............................................................................3
Discussion of proposed business model.........................................................................3
Identification and discussion of key interrelationships in business model....................4
Critical success factors to be managed...........................................................................4
Identification of critical risks and assumptions..............................................................5
Evaluation of overall feasibility of idea.........................................................................5
Conclusion......................................................................................................................6
References......................................................................................................................7
Appendix........................................................................................................................9

BUSINESS IDEA ANALYSIS2
Introduction
Business model canvas can be defined as a strategic management and lean start-up
template that helps in the growth of new business models or documentation of the existing
business models a well. This is considered to be a visual chart that provides different
elements which describe the value proposition, customers, infrastructure and finances of the
firm as well. The activities of the firm are aligned in order to gain potential trade-offs.
Business model canvas was proposed initially by Alexander Osterwalder based on the work
that was earlier done by him based on ontology of business models (Antikainen & Valkokari,
2016).
The report will be based on the new innovation or business idea that will be proposed
for the purpose of solving automation based issues faced by the customers. The wireless
devices that will be offered by the business will be able to provide support in development of
smart homes. The business model canvas of the firm will also be depicted in the analysis that
will be made in the report.
Explanation of customer problem that has to be solved
A major issue that is currently faced by the customers or individuals is mainly based
on the requirement of automation in various devices that are used by them in their homes.
The sensors will be able to play a main part in managing the activities that are performed by
them and keeping check on the various equipments that are used by them as well. The
support that is offered by the devices is considered to be an important part of the ways by
which complexity can be reduced (Dijkman et al., 2015). The reduction of complexity in
different activities is considered to be a major factor that is able to influence the customers
and fulfil their needs as well. The demands and needs of the community will be fulfilled in an
effective way with the help of automated products that are offered by Loora Tooth.