Creating a Winning Business: Business Model Canvas Iteration and Reflection

MN5W50QA - Creating a Winning Business
Assignment 2 Workbook:
Business Model Canvas - Iteration and Reflection
Student Id: [type here]
Lecturer: [type here]
Submission Date: [type here]
NOTES
1. You should stick to one page for each of the parts. To achieve this, you may reduce the font size if needed (no smaller then 8) and you can delete the
guidance words in italics
2. Make full use of the Guide questions in italics in the Workbook
3. For Versions 2 and 3 of your BMCs – you ONLY need to show the changes from the previous version
4. In the box below, please explain in simple terms, your business idea. Maximum of 100 words
Page 1
Development of round table in an attractive manner for restaurant nursery and school is the main business idea. Adding value to an existing product is the
main key of increasing customers’ satisfaction. The main reason of selecting this idea is to make social gathering easier and giving intimate atmosphere to
clients and students. It is safer for kids as there will be no sharp edges and also it creates more space so anyone can take their seats easily and without
disturbing others. For attracting customers, restaurants and schools can buy this product and hence it can increase sales.

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
Cost Related Revenue Related
Key Partners
Furniture producers of Romania
Skilled employees
Investors
Schools
Restaurants of UK
All above discussed suppliers and
customers will be partners of this
business.
Key Activities
Production and manufacturing
logistics
Research and development
Marketing
Staffing
Budgeting
Value Propositions
Sturdy furniture
Affordable pricing
Quality of used wood
All these factors will be focused as
they are important and can add
value to business.
Marketing & Sales
Communication
Social media
Online websites
E-mail
All these will be used for marketing
products and communicating with
customers
Customer Segments
Schools
Home owners
Restaurants
Family
All these would be segment for this
business.
Key Resources
Skilled employees
Manufacturer
Wood
Plastic
Fabric
Stainless steel
cane
Product & Service Delivery
Channels
Website
Applications
Cost Structure
Investment and cost will be required in:
Customer support and marketing activities
Staffing or recruitment and selection
Franchisee fee
Logistic fee
Suppliers’ fee
Revenue Related
Franchisee fee
Furniture
Page review on application and websites
End of page 2
Page 2

Business Model Canvas Version 1: Reflection (Maximum 400 words for the page)
Explain the history behind your idea: The main reason of selecting this idea is to
make socialising easier and making small gathering effective. I found from
secondary research that people love to spend time at the time of lunch and tea time
and round table can increase their experience (Yusof and Tamyez, 2018). This
business idea targets schools and restaurants and nowadays, restaurants are doing
everything by which they can attract customers. So, by making them aware about
effectiveness of this product, sales can be increased. So, increasing sales, market
share and making social gathering of people easier is the main history or reason
behind this idea.
Reflection: reflection is one of the best ways of identifying about our-self. Reflective
writing shows our reflection and let us know about our strengths as well as
weaknesses. When we discuss out previous experience, feelings and thinking then it
can know as reflection. In other words, it can be said that recalling those events
that has happened already in order to know its strengths and weaknesses, then it
can be considered as reflection.
In regard to action learning, it can be said that it is a group of people who work
together group for discussing personal needs and accomplishing common goal.
I believe that an action learning set is much beneficial that individual learning
because it helps us out in accomplishing our goals. This learning set can help us out
in decreasing our weaknesses.
Assumptions: What are the main assumptions behind your business idea? How
could you test those assumptions?
Type here:

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
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