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AM807001 Entrepreneurship and Innovation

Added on - 22 Sep 2021

  • AM807001

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Running head: ENTREPRENEURSHIP AND INNOVATION
ENTREPRENEURSHIP AND INNOVATION
Name of the student
Name of the university
Author note
1ENTREPRENEURSHIP AND INNOVATION
Table of Contents
Introduction......................................................................................................................................3
Problem............................................................................................................................................4
Solution............................................................................................................................................4
Unique Value Proposition................................................................................................................4
Unfair Advantage.............................................................................................................................5
Customer Segment...........................................................................................................................6
Channels..........................................................................................................................................6
Key metrics......................................................................................................................................7
Cost Structure..................................................................................................................................8
Revenue Streams.............................................................................................................................9
Conclusion.......................................................................................................................................9
References:....................................................................................................................................11
Appendix:......................................................................................................................................14
1. Lean Canvas Model...............................................................................................................14
2ENTREPRENEURSHIP AND INNOVATION
Introduction
In the current state of affairs, sustainability and social development is the key
considerations for the contemporary business organizations. This is due to the reason that the
current business affairs are lacking social and sustainable approach. This issue is mainly being
faced by the food and beverage industry due to the reason that food habit of different customer
segments is different. In addition, there are customers who are vegan in nature and do not
consumes animal related products such as milk, butter and cheese[ CITATION Cla14 \l 1033 ].
However, being a human being, they are also having the nutritional requirements. In this case,
even though their number of milk products being offered in the market, they are not suitable for
the vegan consumption. This is a major issue for the vegan population.
Miraka is one of the leading dairy brands in the New Zealand with having Maori
backgrounds.They are working on the basis of cooperative and sourcing the raw materials for
the local farms.Thus, the social welfare is being well maintained by them by enhancing the
revenue sources for the farms[ CITATION Mir18 \l 1033 ].According to the Maori values,
Miraka maintains sustainability in terms of preserving the natural resources and people, diversity
and integrity between the stakeholders.However, in terms of their products, Miraka is having
diverse product range of dairy items.Some of their products are Taupo Pure milk powder and
Whaiora smoothie blend.All these items are based on animal sourced materials. Thus, they are
having the need of offering fiber based dairy and milk products, which will be suitable for the
vegan customers.
This report will analyze the development of the article fiber based dairy product with the
help of lean canvas model. This will include identifying the advantages, channels and cost
3ENTREPRENEURSHIP AND INNOVATION
structure. This will help in determining the different business factor elements of developing the
fiber based dairy products.
Problem
One of the major reasons of going vegan is the health as this is identified that vegan diet
can minimize the health issues. This is further motivating people to convert to vegan. In addition,
the increasing awareness among the public regarding sustainability is also promoting the trend of
going vegan.The major problem being faced by the vegan customers is the lack of plant based
dairy products. Currently, there are number of dairy products being available in the market but
all of them are based on animal milk. Thus it is not applicable for the consumption of the vegan
people. Furthermore, this issue is also depriving the vegan people from the nutritional value of
the dairy based products[ CITATION Rad15 \l 1033 ].With the increase in the percentage of
the vegan population in the recent, the risk of not having the nutritional value of dairy based
products will be more and it can led to nutritional issues among the major section of the global
population.
Solution
The recommended solution of introducing artificial fiber based milk will help in
mitigating the above identified issue. This is due to the reason that in the recent time,
technological advancements helped in developing plant fiber based milk for human consumption.
This will enable the vegan population to have the same nutritional value as the animal based milk
products[ CITATION Mäk16 \l 1033 ].The recommended product will be purely based on the
fiber extracted from plant resources and in accordance to the core Maori values; the product will
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