Report on Entrepreneurship Assessment

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Entrepreneurship
A new joint venture

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Executive summary
Entrepreneurship is considered as the engine that is able to grow the economy favorable.
It is easy to get idea for opening new business but it is hard to execute the plan with analyzing
the ach factors of the market for the purpose of growing in the market. The report has been
focused on new idea in existing industry of Australia. Idea has been taken in the hotel industry
which has been evaluated as the boon industry in the Australia. The nine building block of
business model aided to know more requirements about establishing new idea in existing
industry. Feasibility analysis has been done so that the strength and weakness of the company
can come to know in the view of entrepreneurship.

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Contents
Executive summary.........................................................................................................................2
Introduction......................................................................................................................................4
Business model canvas....................................................................................................................5
Customer segments......................................................................................................................5
Value proposition.........................................................................................................................6
Customer relationship..................................................................................................................6
Key activities................................................................................................................................7
Key partners.................................................................................................................................7
Key resources...............................................................................................................................7
Cost structures..............................................................................................................................8
Communication channel..............................................................................................................9
Revenue streams........................................................................................................................10
Minimum Viable Product (MVP) (if applicable).......................................................................10
Feasibility analysis.........................................................................................................................11
Market feasibility.......................................................................................................................11
Technical feasibility...................................................................................................................12
Human feasibility.......................................................................................................................12
Financial feasibility....................................................................................................................13

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Conclusion.....................................................................................................................................14
References......................................................................................................................................15
Appendix 1.....................................................................................................................................17
Appendix 2.....................................................................................................................................19

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Introduction
There are so many aspects and factors which should be analyzed while developing the
new venture. It is important to analyze various components of business before going with new
idea of new venture. Business model canvas facilitates to understand the each elements of new
business idea in an appropriate manner. The report will focus on the new idea that is opening
new hotel in the Australia. It is the industry which is very competitive and huge advantages
which provides enlarge opportunities to entrepreneur. The hotel which will be discussed in below
that serves the people with great quality of accommodation as well as food services. Australia is
an attractive place for tourists and the idea of opening new hotel near tourist place will be
advantageous for entrepreneur. It is the hotel which would be full of entertainment because it
would give theatre and playgroup in the hotel. It is the hotel that serves the market with
entertainment along with accommodation. This business will operate the targeting market of the
Interested people who fond of travelling. Along with that it will have playgroup because it has
been analyzed that parents with child cannot have enjoy that much due to proper care of child.
Due to having playgroup in hotel, it would be helpful for the parents to go outside for certain
period and apart from that the different activities in playgroup will be facilitated to learn new
things of new culture to child. It is the business that can only the target of premium customer
because the staying cost in the hotel will be very high in comparison of normal hotels.

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Business model canvas
Business model canvas is considered as the instrument which will be obliging for the
organization to initiate new idea and concepts supporting financial viability of an organization.
With the help of business model canvas, an organization is capable to generate revenues and
turnover from the operation of the company. It helps to attain the rationale of the business and
assist to distinguish the source of company for increasing the revenue (Bohm, 2015). It aids to
get know about the value of the business and its strategies to deliver effective services and values
in sophisticated manner. It is made with nine building blocks such as value proposition, key
activities, key partners, revenue streams. client segmentation, cost structure, key sources,
communication channel and client relationship.
Figure 1: Business model canvas
Source: (Itami, & Nishino, 2010).
Segments of customer
It is the first element of the business model that involves all entire member of the
organization for which business building the value. It is vital for the new hotel with special