Business Model and Innovation .

Running Head: BUSINESS MODEL AND INNOVATION
Business Model and Innovation
Name of the Student
Name of the University
Author Note

1BUSINESS MODEL AND INNOVATION
Table of Contents
Introduction......................................................................................................................................2
Discussion........................................................................................................................................3
Overview of the company........................................................................................................3
Innovative Idea........................................................................................................................3
Surya Tomorrow (Business Model Canvas)............................................................................4
The minimum viable product test............................................................................................5
The Others...............................................................................................................................7
Conclusion.......................................................................................................................................8
Reference...............................................................................................................................10

2BUSINESS MODEL AND INNOVATION
Introduction
The business industries especially the restaurant industry needs to try out innovation in
their products and services in order to stay on the competitive edge giving tough competition to
the market rivals and at the same time catering to the changing preferences of the customers. For
example, the co –owners of the restaurant named Jump in Toronto incorporated the state-of –the
–art studio in their eatery and experienced million –dollar upgrade in their business. It is with the
installation of the audio visual equipment that they became successful in meeting the needs of
the customers especially the business people. It is stated that the restaurants should either
innovate or be eaten because it is a strong industry and there are already market goliaths existing.
In order to innovate, the restaurant management at first needs to identify which innovations will
have the greatest bottom line impact.
The next step is to establish the budget to implement that idea having designed realistic
timeframe. This report will aim at forming an idea for the innovation of Surya restaurant which
is an Indian restaurant located in Spain. The restaurant is famous for its flavors of Indian street
food and extensive range of cocktails. The restaurant wants to innovate and expand to become
scalable. The restaurant needs a model that can be replicated in many countries if it is to open
outlets at 100 different locations. The report will start by giving an overview of the company and
proposing an introduction of an innovative idea. The report will further proceed with outlining
the Business Model Canvas based on the idea along with the customer relationship campaign.
The report will conclude by describing how to prototype the idea as well as the potential
competitors in the industry.

3BUSINESS MODEL AND INNOVATION
Discussion
Overview of the company
The Surya restaurant is aimed at bringing the taste of India especially the street food
flavors of Mumbai to Spain. The Chefs of the restaurant are said to have travelled every corner
of India to present an exquisite list of appetizers. The Hindu cuisines are known for their magical
blend of spices and herbs and the exotic flavors are brought about by the restaurant to the
Spanish people as well as the Indians who stay there. The Surya restaurant enables the food
lovers a chance to explore new sensations that every Indian feels travelling on the streets of
Delhi to Mumbai starting with Pani Puri to Vada Pau. It is restaurant that is highly acknowledged
for its fabulous diversity which caters to the tastes of all kinds of customers. The restaurant has
their special ‘tandoor’ because they ensure the home made and artisan flavor in their baked
naans. In order to bring the core Indian flavors, the restaurant is highly promised to the
authenticity of Indian tastes. They prepare all their sauces by home-made process to retain the
spicy, tangy texture of Indian sauces.
Innovative Idea
Since the restaurant is mainly focused on spreading the Indian flavors worldwide s that
people at every corner of the world get to know about the magical mystery behind the taste of
Indian foods, it must be kept intact. The restaurant is also known for its extensive range of
cocktails and as an innovative attempt that would help it to expand successfully too, they can
introduce herbs in their cocktails. When people hear about cocktails, it is likely that the thought
of boozing and sprits/ alcohol comes into minds. The Surya restaurant can change this idea
completely by presenting a new segment of drinks which would neither be solely health drinks