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Business Model Canvas Assignment Solved

   

Added on  2020-10-05

14 Pages3563 Words270 Views
Enterprise

Table of ContentsINTRODUCTION...........................................................................................................................11. Business concept.....................................................................................................................12. A peer group reflection of Skoopitos BMC based on peer feedbacks....................................53. Improved Re-iteration of Business Model Canvas.................................................................7CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12

INTRODUCTIONExperimental learning is important for student to be focused on method which assistthem in engaging in learning. Experimental learning assist in providing students an opportunityin order to practice and develop their skills such as curiosity, self-direction. Experimentallearning is beneficial in order to enhance the problem solving, creative and critical thinking skillsby utilising the reflecting practice skills. The present report will help in analysing theexperimental learning with the help of peer feedback. Report will introduced a new businessventure plan with the help of using business model canvas diagram by students which will assistin increasing his experimental learning skills. Along with this the peer feedbacks will also bediscuss which assist in getting proper suggestions and feedbacks regarding the problematicissues. Further, to improve the issues highlighted by the peer discussions and different strategiesfor improvement. At last, the reiteration model will be include with the updated BMC model ofnew business venture. 1. Business concept.The new business venture that are planned is to open a new restaurant Skoopitos. Havinga business concept is very important element in order to develop a new business venture. Themain concept of Skoopitos would be based on the new and latest trend which will assist inattracting more customers. As per the recent trend in restaurant industry, customers are moreintended to visit a restaurant which offers healthy menu option (Trimi and Berbegal-Mirabent,2012). The new business venture will include fine dining services which provides customers withfull customer services, unique interior designing, well trained staff. Skoopitos restaurantswillalso keep varieties of food with proper hygiene and full of nutrition.Before starting a restaurant, it is very essential to analyse the market, the owner need toknow who are the main competitors it will help the new business to add some uniquedeterminants that will help in gaining advantage over other competitors in market. It is alsoessential to find the potential supplier and vendor for the restaurant. The concept of Skoopitosshould also include staffs, table setting the design of ambience, efficient parking facility. Theconcept of Skoopitos should be appealing enough to attract the customers.Business Model Canvas for Skoopitos are:1

The above business model has illustrated the different elements of the new businessventure Skoopitos. The business model canvas is great tool that will help in understand thebusiness model in a structured form. The business model canvas will assist to understand the 9important elements of the business. Following are the main elements of Skoopitos businessmodel canvas:Key partners: It helps in defines the potential partners of the new business venture. Thekey partners of Skoopitos will be the suppliers who will supply the vegetable and otherraw material for restaurants, vendors and retailers. The restaurant will operates by thesole-proprietorship. Key activities: This block of BMC will help in explaining the action that will assistSkoopitos to perform its operations successfully. The main activities of the new businessventure includes starting a new business to make make profit and take out better rate oninvestment (Pedersen, Gwozdz and Hvass, 2018). Another activity includes providingbest quality food and services to its customers. In order to increase sales, marketing andpromotion will also includes in the main activities of Skoopitos restaurant.Value proposition: This block explains the reasons or uniqueness which helps inattracting Skoopitos over other restaurants in market. Value proposition set by Skoopitosare providing food with quality, greater taste , healthy and in varieties. The order processwill be simple and very quick. The ambience and comfort furniture will also helps inadding value to customers. Customer relationship: It will help in defining the relationship that the new businessventure will make with its potential customers (Restaurant trends 2018, 2019). Personalassistance, serving healthy food experience with great music in premises are some waysthrough which Skoopitos will manage its relation with customers.Customer Segments: It is one of the most essential elements in business model whichdefines the target segments in the market. It helps yin segmenting the market on differentbasis, Skoopitos will going to target the 2

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