Business Model Canvas Assignment Sample

Enterprise
(BUSINESS CANVAS
MODEL
Global Fashion Enterprise)

Table of Contents
BUSINESS CANVAS MODEL......................................................................................................1
PEER GROUP REFLECTION........................................................................................................3
IMPROVEMENTS..........................................................................................................................7
REFERENCES..............................................................................................................................10

BUSINESS CANVAS MODEL
Global Fashion Enterprise
Key Partners
 Textile
partners
 Fashion
bloggers
 Logistic
company
Key Activities
 Customiz
e design
 Selling
goods.
Key Resources
 Human
resource
 Financial
institution
s
Value
Proposition
 Excellent
quality.
 Reward &
feedback
system
through
mobile
app
Consumer
Relationship
 Accessible
consumers
service
through
phone,
website,
email.
 Customise
products
as per
needs.
Channels
 Social
media.
 B2C
Consumer
Segments
Male & female
 Age 18-
60
Cost Structure
 Raw
material
cost-2000
pound
 labour and
machinery
Revenue Streams :
 Earn revenue through selling clothes
 Venture capital
 Commission
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-1500
pound
 Advertisin
g &
marketing
cost- 920
pound
Business canvas model : - It is a strategic management & lean startup template for
developing new business model and Global Fashion Enterprise can take help from for the higher
growth opportunities. This help to understand a business model in a straightforward and
structured way. It is helpful to develop insights about the consumer which company serve. The
management of organisation is responsible to develop this model effectively so that corporation
can achieve its goals and objectives. There are nine components of this which are as : key
Partners, key activities, value proposition, consumer relationship, consumer segments, key
resources, channel, cost structure and revenue streams (Business canvas model. 2018).
Global Fashion Enterprise is the manufacture of clothes, products are customize and
which are made as per the order of consumer. The basic feature of this organisation is that it
manufacture the clothes as per culture & tradition of a country and its people. So this unique
concept is very helpful for the growth of business. Management committee has decided to
establish the business at London, Barton Road.
Key Partners : Organisation has key partners which provide help in business which are
as: textile partners who provide raw material. Logistic company provide helps in import and
export the products (Wallin and Thompson, 2013).
Key Activities : There are various activities which are helpful for corporation to sustain
in the market. Company customize the products as per the demand of consumers and sell it, these
are main key activities of business.
Value Proposition : To create is essential so that more number of consumers can attract
towards the organisation. It provide value through its quality products and take feedback from
the consumers so that their views can be understand.
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Consumer Relationship : For an organisation it is essential to make healthy relations
with consumers so that they become loyal with company as a result its sales can be maximize.
Accessible consumers service through phone, website, email helps to make strong relationship
with persons. Corporation customise products as per needs and demands of consumers so that
their desires can be satisfy.
Consumer Segments : For a corporation it is essential to identify the consumers segment
as a result right persons can be targeted by the organisation and which is helpful to capture
higher market share. Global Fashion Enterprise focuses male and female both and age group of
18- 60 years (Zolnowski and Bohmann, 2014).
Key Resources : In the growth of company key resources are very helpful and resources
are as: workers and financial institutions. They provide funds to the organisation so that it can
continue its business operations.
Channels : To expand the business channels are very important and it follows B2B and
social media tools. So that business of company can grow.
Cost Structure : Cost structure of corporation includes : raw material, labour &
machinery cost, advertising & marketing and Rent & leasing.
Revenue Streams : To earn higher profits is the main aim of company and it generates
revenue by selling its products to the target market and venture capital provide financial
assistance.
PEER GROUP REFLECTION
While doing this project I learn so many things and my peer group provide me various
suggestions which are helpful to complete the work effectively. They suggest me to use Gibbs
model so that effective business model can be implemented by the organisation which provide
help to generate new strategies and plans for the business development and growth. As a result
Global Fashion Enterprise can achieve its goals and objectives. Gibbs model is based on six
elements which are as: description, feelings, evaluation, analysis, conclusion and action plan.
Description :
To conduct this project is new for me because I have to prepare a Business canvas model
for the new venture which is Global Fashion Enterprise. It is the manufacture of clothes,
products are customize and which are made as per the order of consumer. There are nine
elements of BMC model which are as : key Partners, key activities, value proposition, consumer
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relationship, consumer segments, key resources, channel, cost structure and revenue streams. My
peer group suggest me that I can prepare this model very effectively so that company can grow
and get success. This is first experience to prepare a business model and I have learn so many
new things which I do not know earlier. I was feeling nervous to conduct this project because it
is not easy to make plan for the business of company. There are various which are essential to
consider such as : who will the suppliers so that corporation can get raw material for the
production process, the target consumers who can buy the products of organisation. Which
source of fund should be selected so that Global Fashion Enterprise can acquire funds at lower
rate and it have to pay minimum interest rate. How much cost is needed to run the business
successfully and channels of distribution so that products can be easily deliver to the consumers.
These are some important factors which are essential to be consider while making a new venture
proposal for the business. I was nervous that how to start this project and how time is required to
complete the project successfully as a result target can be accomplish effectively. So I divide the
work and segregate the elements so that work can be done as per the requirement and within
stipulated time period as a result objectives can achieve. My friends and peer also guide me that
how I should start the work and what factors are needed to be consider. I face some challenges
and difficulties while preparing Business canvas model for the business of corporation. But I put
my maximum efforts so work can be done successfully and it is my totally new working
experience.
Feelings : I always emphasis to learn new things and enhance my working experience
and it is helpful to develop my skills and knowledge. A person can be successful when it always
focuses to learn which is helpful to develop the insights. When I get to know that I have to make
new venture proposal with the help of Business canvas model, I feel happy because I am curious
to experience the new things and it enhanced my pleasure. During the project I was totally
confused that how I should start it and how much time is required to complete it successfully.
But I was confident that I can do it and I put my maximum efforts to conduct this successfully. I
feel that work should be divided as per the priority and requirement so that it will be easy for me.
There are various challenges which are appeared in front of while doing this project. After
completion of this report I was very happy because I learn so many new things which is also
helpful in my future and I will aware that how I have to set the business plan for new
organisation so that goals and objectives can be accomplish as per the requirement and Business
4

canvas model is helpful to develops the insights which is beneficial to set the targets. But I was
also nervous about my performance and how it will be evaluated and on which factors. It makes
me glad that I experience some important things and concepts which is very helpful in the future
and it is helpful to develop my skills and knowledge. But my peer group provide its feedback
that I put some extra efforts and have done research that what are the important factors which
should be focused.
Evaluation :
The performance has been evaluated by peer group and they provide their valuable
suggestions. My good experience is that I complete the work successfully and gain useful
knowledge which is helpful in the future. I feel very enthusiastic and whole experience was good
except the one thing which is time management. I thought that task will be completed as per the
stipulated time frame but due to the lack of management skill I did not manage the work
according to the requirement. So peer group suggest me that I should learn time management
skill so that task can be completed as per the desire. Due to the miscommunication and
coordination with team mates work has been delayed as a result targets can not be accomplish
effectively.
Analysis :
When the analysis has been done I get to know that there are various area where
improvement is required so that Business canvas model can be develop effectively for the new
venture. My peer group provides various suggestions to me for the improvement which are as
follows : I have make proper research that how a business plan can be developed and what are
the important factors which are needed to be consider while making the model. It has been
analysed that Global Fashion Enterprise can involve some partners for the expansion. Key
resources can be used effectively so that company does not face the problem of shortage of
funds. Products are made as per the demand of consumers so that it create value. It is essential to
improve the customers relations so that they connect with the corporation as a result profits can
be enhanced. These are the main things which are analysed and except from this it has been
identified that work does not prioritise as per the requirements which shows the lack of planning
and management.
Conclusion :
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As from the above report, it has been concluded that there is business canvas model has
been prepared for the Global Fashion Enterprise which is helpful to guide it. There are nine
elements in the model which have its own importance. There are various resources has been used
for the growth of business. I can do some different things such as : I should take advise from peer
group that how can I prepare effective business model and what factors are need to be keep in
mind while doing report. How to plan the activities so that work can be done effectively. It was
my positive experience during the whole project and learn so many important things which are
helpful to improve the skills and knowledge. I have achieve the target as per the required manner
but due to the lack of time management skill work has not completed as per the stipulated time
frame. Due to the lack of observation skill business canvas model does not prepare effectively. It
is imaging experience for me and my analytical skill has been developed through it.
Action plan :
An action plan has been prepared to achieve the objectives so that targets can be achieve.
My peer group suggest me to make it so that in future same mistakes can not be done and
activities can be improved. There are various steps can be included in action plan which are as
follows :
Identify the problem:
For a person it is necessary to analyse the problem so that plan can be prepare according
to it. Organisation can know the reasons that why it is happening and what will be the
consequences upon the business. With it appropriate strategies can not be made and targets can
not be accomplish.
Set objectives :
It is essential to set the objectives which are needed to be achieve and without it action
plan can be effectively prepare. For an individual it should be clear that what is needed to be
achieve so that plan and strategies can be prepare according to it.
Organise the resources :
To make an effective action plan it is necessary to organize the resources as per the need
and specification so that objectives can fulfilled. There are various types of resources such as :
man, money, material and power.
Time table : Time management is important to achieve the targets and it can be set as per
the priority of task. While making an action plan it is necessary to set the specific time and put
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maximum efforts to accomplish the task as per the stipulated duration. As a result goal can be
fulfilled.
Measure of success : The success can be measure when set targets has been achieved as
per the plans and strategy. If it does not measure than objectives can be accomplish effectively.
So these are the important steps which provide help to make an effective action plan as a
result improvements can be done and targets can be fulfilled. It is very helpful for my future
point of view because I can learn how to make a business plan and how it can implemented
successfully.
IMPROVEMENTS
To get success and growth it is necessary to make improvements so that work can be
done effectively and goals can be accomplish as per the requirements of business. In Business
canvas model there are various improvements can be done.
Key Partners
 Textile
partners
 Social
media
partner
Key Activities
 Selling
goods.
 Maintena
nce
Key Resources
 Human
resource
Value
Proposition
-
Consumer
Relationship
 Attractive
offer such
as :
discount
Channels
 E-mail
marketing
 B2C
Consumer
Segments
Male & female
 Age group
of 10 – 70
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 Banks
Cost Structure
 Rent &
leasing –
750 pound
Revenue Streams :
 Earn revenue through selling clothes
 Sponsors & In- App features
There are various improvements can be done in Business canvas model which are
as:
Key partners : To maximize the business it is essential to make more partners so that
business can grow and organisation can involve social media as its partner so that more number
of consumers can aware about the products of company (Trimi and Berbegal-Mirabent, 2012).
Consumer relationship : To make an healthy relationship with consumers it is essential
to attract them and organisation can provide introduce various schemes such as : discounts.
Channels : To expand the business organisation can use e-mail marketing which is helpful to
aware and attract the consumers towards the company.
Key resources : Corporation can raise the funds through the bank so that it does not face the
problem of shortage of funds.
Revenue Streams : To increase the revenue company can use mobile app through which
consumers can select the design and types of dress and on the basis on it they can place its order.
It is helpful to maximize the revenue of Global Fashion Enterprise (De and Haaker, 2013).
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REFERENCES
Books and Journals
De Reuver, M., Bouwman, H. and Haaker, T., 2013. Business model roadmapping: A practical
approach to come from an existing to a desired business model. International Journal of
Innovation Management. 17(01). p.1340006.
Frick, J. and Ali, M. M., 2013, September. Business model canvas as tool for SME. In IFIP
International Conference on Advances in Production Management Systems (pp. 142-
149). Springer, Berlin, Heidelberg.
Joyce, A. and Paquin, R. L., 2016. The triple layered business model canvas: A tool to design
more sustainable business models. Journal of Cleaner Production. 135. pp.1474-1486.
Massa, L. and Tucci, C. L., 2013. Business model innovation. The Oxford handbook of
innovation management. 20(18., pp.420-441.
Sanderse, J., 2014 The business model canvas of NGOs(Master's thesis, Open Universiteit
Nederland).
Spieth, P., Schneckenberg, D. and Ricart, J. E., 2014. Business model innovation–state of the art
and future challenges for the field. R&d Management. 44(3). pp.237-247.
Trimi, S. and Berbegal-Mirabent, J., 2012. Business model innovation in entrepreneurship.
International Entrepreneurship and Management Journal. 8(4). pp.449-465.
Wallin, J., Chirumalla, K. and Thompson, A., 2013. Developing PSS concepts from traditional
product sales situation: the use of business model canvas. In Product-Service
Integration for Sustainable Solutions (pp. 263-274). Springer, Berlin, Heidelberg.
Zolnowski, A., Weiß, C. and Bohmann, T., 2014, January. Representing Service Business
Models with the Service Business Model Canvas--The Case of a Mobile Payment
Service in the Retail Industry. In system sciences (HICSS), 2014 47th Hawaii
International Conference on (pp. 718-727). IEEE.
Online
Business canvas model. 2018. [Online]. Available Through :
<https://www.businessmodelsinc.com/about-bmi/tools/business-model-canvas/>
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