Entrepreneurship Development

This document discusses the role of the Chief Marketing Officer (CMO) in business development, focusing on their responsibilities in managing overall company activities, creating marketing plans, and analyzing customer needs. It also explores the importance of effective communication and marketing strategies, as well as the impact of CMOs on business success. The document provides insights into customer value proposition and the contribution of CMOs to the growth of a company.

ENTREPRENEURSHIP DEVELOPMENT

Table of Contents
1) INTRODUCTION.......................................................................................................................3
2) CUSTOMER VALUE PROPOSITION CANVAS....................................................................4
3 Lean business canvas model.........................................................................................................5
4) CMO SPEACIALIST CONTRIBUTION...................................................................................7
(5) Financial plan.............................................................................................................................9
(6) Why invest in business idea?...................................................................................................10
CONCLUSION ............................................................................................................................10
REFERENCES..............................................................................................................................11
APPENDIX 1:................................................................................................................................12
APPENDIX 2:................................................................................................................................14

1) INTRODUCTION
To prepare the report, the role of the CMO (Chief marketing officer) is undertaken which is relating to undertaking the overall
activities of the company by promoting the business in market. The main objectives of the CMO is to wok according to the set norm
regarding managing the sales in company or also undertaking the cost. So that they can reduce the wastages in company or also
manage the reviews of the customer by using the innovative marketing strategies. As the role of the CMO is to build the strong
connectivity with the customer and also promote the products in market for longer term growth.
The objectives which they carry is relating to managing the revenue, secure expenses or also reduce cost in relation to reducing
wastages in company (Antikainen and Valkokari, 2016). As this report carries the study on the bases of AOK events company in
which the role of the CMO carries the vital role. CMO carries the duty to organise the events which reflect the fulfilment of the needs
and wants of the customers. The expectation of the customer towards the events company is high as they feel that they are spending
high to make the events successful and thus in return expected to get timely management of the said events. As in attaining the
position of the CMO they carry the major rights which is carried by other C's. Thus if they carry the high skills, than they get the
changes to get promoted to CEO's. The Smart objectives which is prepared by the CMO in relation to increasing the profits in business
is relevant to:
1. The profits of the AOK events is to be increased by 5% in first relevant year and than by using more innovative ideas it is to be
increased by 10% in second year and than in last year it reached to 20%.
2. The sales revenues is to be increased by 10% in first year and than 20% in second year and last year it reached to 35%.
3. In respect of examining the profit margin it is to be managed by 15% in first year, 20% in second year and in third year it
carries 30%.
4. The main objectives of the company is to undertake the proper instruction of the customer regarding providing accurate
services and also making the events memorable. They also resolve the issues of the customer by providing accurate services
which is fixed by them in making the events successful.

2) CUSTOMER VALUE PROPOSITION CANVAS
In relation to undertaking the matter related to customer value proposition, it is mainly conducted in context of determining the
position of the products or services in market and also its maintaining the position in relation to taking care of customer needs and
wants. Value proposition is mainly classified into the gain creators, products or services or pain relievers. In relation to customer
profile map it covers with gains, pains and customer jobs.
Value proposition:
Gain creators: In respect of matters related to undertaking the AOK events company, they gain advantages by organising the higher
level events of the renowned company. As users are mainly attracted if they find that the events company already organised the
famous events on behalf of the reputed company (Äyväri and Jyrämä, 2017). Thus, this attracts the customer interest toward the events
at larger sale and they prefer the ideas or any such thoughts in creating their own events.
Products or services: In relation to the events company, the matters are undertaken on the bases of the products or services which
they are offering during organising the events. As customer are attracted if they find any additional benefits in addition to the booking
which they made to organise such events. The services which they expect is of high quality and also carry less risk. In such manner
customer expected to get timely arrangement if they planned any such events with the AOK events company.
Pain relievers: In this aspects the events also planned to organise the charitable events on behalf of the company and also use the
recycling products to reuse the waste items. Through this aspects they are initiating some amount of contribution in saving the
environment and reducing waste at global level.
Customer Profile Map:
Gains: In relation to customer, it is the duty of the AOK events company to provide more effective payment option to customer. So
that they can freely and securely transfer the payment in exchanges of availing the services of the company (Bagheri and Movahed,
2016). They are attracted if they find that AOK events company is linked with high reputed business and also they are organising the

events in more better way. Through this manner they gain the advantages by attracting the customer interest towards the successful
events.
Pains: This factors is mainly examined through getting the negative reviews from the customer in relation to not organising the events
in right manner. The pain is realized when they spends high amount of money in organising the events but find that such money is not
accurately used in all such perspective which is demanded by the clients (Dijkman and et.al., 2015). Pain is also undertaken when the
preparation are not completed within the set time period.
Customer Jobs: It is mainly undertaken in relation to analysing the customer needs and wants they expected from the company in
respect of availing the services. As customer jobs is to spend some time from their busy schedule in respect of providing the accurate
reviews regarding the services which they avail.
3 Lean business canvas model
 Problem: In the fast running life people want to do tasks in the short time period and due to this reason with passage of time many
new services get developed in past couple of years. It is well known fact that time to time varied sort of parties are organized in
the office. Managers try to persuade employees that office is not just for work it is also for fun and enjoyment. Often when such
kind of parties are organized in the office lots of sound is produced as event management company employees come and start
decoration and commence work on varied areas of the office premises (MacWilliams, 2016). This creates a lot of problem for the
employees as their attention distracted. In order to solve such kind of problems current concept is developed which is known as
“Last minute part”. Under this concept 30 minutes are taken for doing entire preparation on floor and same time period is taken to
remove all installations from the office. Party is organized for one hour under this concept. Important point to note is that this
concept can be used to conduct parties for employees and board meetings etc.
 Solution: Problem is that employees face a lot of problem when event management company employees do work on the floor and
due to this reason their work also get delayed. Employees because of lot of pending work do not feel interested in joining a party.
In order to solve such kind of problem solution is that preparation of party must be done in short duration so that employees can

enjoy during party and can work without any problem. “Last minute concept” addresses this problem. Hence, it is expected that
this concept will be widely accepted because it is new and also touch the pain points of the people. However, there are number of
problems associated with this concept and one of them is maintenance of quality. Under this concept main focus is on fast
implementation of program but if there will not be proper coordination among employees then in that case lots of loopholes can
remain in the service and client can get unsatisfied. Hence, while providing services there is probability that mistake can be made
at the workplace.
 Key metrics: In order to measure success of the business idea some key performance indicators are prepared. Usually, these key
performance indicators are the parameters which reflect threshold level. Actual performance is compared with threshold level and
by doing so performance of the business is measured. In the present case key performance indicator is time period within which
installation will be completed and removed is the key performance indicator or it can be said that 30-minute time period is the key
performance indicator for making all arrangements and removing all installations from the workplace. There are many key
performance indicators that can be prepared like number of cases of error can be determined as threshold level for each employee
and overall team. If this limit crossed then in that case it can be said that employees are not performing well or vice verse.
Completion time for small and big task can be determined by using which it can be identified whether task completed on time or
delay happened. Thus, it can be said that key metric have due importance in business analysis.
 Unique value proposition: Unique selling proposition refers to the product specifications that make entire product unique and
play crucial role for developing its demand in the market (Matthews, 2015). There are number of products and each of them have
some unique feature which make them different from rivals. Main unique selling proposition of the new concept “Last minute
party” is that in this idea in short time period all arrangements are made and employees do not feel any sort of uncomfortable.
Thus, party is organized in proper manner. Such kind of unique selling proposition increase demand of the product in the market.

 Unfair advantage: Business idea is easy to copy as any rival can do this. Important point to note is that within 30 minutes
installation of all items on floor requires high level of coordination and understanding among the employees. It is to copy idea but
its implementation is hard. Hence, not every business can easily copy this business idea.
 Channels: There are number of mediums that can be used to reach potential customers and social media is one of them. In social
media Facebook is the popular medium through which one reach to potential customers and can communicate information about
the product to them. Apart from this, personnel communication will also be used to interact with the medium and large size
company’s manager. Initially, in small geographic area first of all for two months advertisement on FB will be done so that people
can be made aware about the product. If people are aware about the product then in that case it becomes easy for the firms to
create customer through one to one communication. Under this plan client base will be developed in the business.
 Customer segments: Main customer segment will medium and large size firms because in these firms on large scale parties are
organized time to time and number of employees or delegation teams are also large (Skocpol and Williamson, 2016). Hence, a
chance of earning of huge of profit is also high in this business.
 Cost structure: In the business there will be both fixed and variable expenses. Majority of expenses will be variable in nature.
Fixed expenses will be related to vane purchase. There will be 2 vans and its cost is fixed. Event to event variables expenses will
change depend on client requirement.
 Revenue streams: There will be single income stream because party is either for employees or delegation or due to any other
reason in the business there are number of things which are common. Thus, there are not a multiple product lines in the business.
4) CMO SPEACIALIST CONTRIBUTION
CMO (Chief marketing officer) resulting in carrying various liability regrading managing the overall activity of the company.
As it is easy to produces products in business or to manage the employees at wok place but its tough to manage the integrity of the
company in market. The role of CMO carries the responsibility in relation to dealing in matter such as creating the marketing plan

with appointing the right and skilled team to handle the matters. They also carry the effective communication skills through which
they had to convey their thoughts and ideas with the other people (Kyhnau and Nielsen, 2015). They also had to carry the good
communication skills to convey their decision and ideas to other department. CMO role is to value the customer needs and demands
by analysing their needs and wants towards preferring the particular products.
In relation to examining the role of the CMO in undertaking the business ideas, it is analysed that they had to select the best
business tactics though which they retain the customer interest towards the services for longer way. In this aspects the role of CMO is
determined in context of analysing the pricing fluctuation which is happening in market. As due to changes in taste of the customer,
the demand of the products is also fluctuating. Thus, in such aspects the changes are made on timely bases by conducting the accurate
marketing research and also building the strong connectivity with the customers (Lüdeke-Freund and Dembek, 2017). In relation to
undertaking the data regarding bringing new innovation in existing products. As customer are mainly attracted if they find any new
concept in the exiting products or also the company use the innovative promotional techniques such as advertisement or any campaign
or any social events which enhances the needs of the customer in better way.
In respect of analysing the impact upon the business development, it is undertaken in relation to providing the positive aspects.
The goal of the company is achieved through carrying the effective communication skills. As the judgement and decision in
undertaken with all the department such as sales, production, finance and HR regarding taking the right decisions. The marketing of
the company is done once they are clear with the budgets and also they know the demand of the market and also the customer segment
regarding availing such products. Thus in such aspects it is necessary to build the strong connectivity with the customers through
using the communication strategy (Pokorná and et.al., 2015). Through this procedure it resulting in getting new ideas and also
understand the thoughts of the team members in better way. In relation to developing the business strategy in right manner, the role
played as leaders is also effective. As in this aspects, they motivate each and every employees to bring some innovative ideas in work
and also communicate freely if they faces any such issues. By this manner they also undertake training activity at wok place through

which the training is given regarding gathering information of the customer or also examining the marketing strategies to beat
competitors at higher level.
Thus, in such aspects, it is analysed that CMO carries the duty in respect of taking quick decision regarding facing changes in
market condition. They had to work towards achieving the objectives relating to carrying the expense which is incurred in attaining
the particular task (Razo-Zapata, Chew and Proper, 2016). It reduce the cost of the product which is not of use or also mange the
revenue generation to sustain the position of the business in market for longer way.
(5) Financial plan
Business idea is innovative and due to this reason, it is expected that number of parties conducted in the month of January will be 5. In
the month of February and March total number of parties organized is 6. This number increased to 7 in the month of April and
May. In month of June 8 parties are expected to be organized by the firm. In the further months consistently one party
additionally will be organized by the business firm. While making forecast in respect number of people that will be served as
guests in the party hard task is that no one can easily estimate that number. Thus, rough estimate is made that 250 people will be
there in each party. Actual number will vary from the projected value but it is the minimum number of people that can join party.
Thus, such kind of efforts will make estimate more reliable. Per person charge is $300 and by using this value revenue is
calculated for each and every party. It is expected that administrative expenses will be $5000 and it will remain static irrespective
of number of parties organized in a month. HR expense is $450000. It is assumed that at least 20 employees will be required as
labour to place all items at relevant places in the office. These 20 people will be responsible for doing installation of all items.
Logistic expense is expected to be $50 for each party. Interest expense is $300 each month. These are the overall expenses and
income that will be made and generated in the business. Break even analysis is generating value of 100 which means that in each
event there must be at least 100 guests so that expenses which are either fixed or variable can be covered in the business.

(6) Why invest in business idea?
There are number of reasons due to which investment must be made in the business idea. One of them is that business idea is
innovative in nature and in current time period there are no competitors of the business idea. All of the rivals take at least one day or
few hours to do decoration and making all arrangements but in present case thing is different and in 30 minutes all arrangements are
made in the office premises, work is done with full efficiency. This reflect that business idea if implement properly with good
coordination then it can satisfy client needs in systematic way and employees can work without any hindrance. Such kind of business
idea will receive great welcome from the clients and due to this reason, there is probability that business idea will gain huge
popularity. Thus, probability of earning of profit is high in the current business idea. Other reason behind making investment in the
business idea is that there are not any sorts of rivals of the business idea or it is not present currently in the market. Hence, there is
high probability that client will be created at fast rate in the business under the relevant concept. This is another reason due to which
investment must be made on business idea.
CONCLUSION
On the basis of above discussion, it is concluded that business idea is new and viable in nature. However, it can be copied by the
rivals but proper organization of business operations is requiring for successful performance of the business operations. Making
arrangement of services in the short duration is the USP of the business idea and due to this reason, it will be welcome by the
prospective one. Overall, it can be said that business idea is viable in nature.

REFERENCES
Books and Journals:
Antikainen, M. and Valkokari, K., 2016. A framework for sustainable circular business model innovation. Technology Innovation
Management Review. 6(7).
Äyväri, A. and Jyrämä, A., 2017. Rethinking value proposition tools for living labs. Journal of Service Theory and Practice. 27(5).
pp.1024-1039.
Bagheri, M. and Movahed, S. H., 2016. The effect of the Internet of Things (IoT) on education business model. In 2016 12th
International Conference on Signal-Image Technology & Internet-Based Systems (SITIS). (pp. 435-441). IEEE.
Dijkman, R. M. and et.al., 2015. Business models for the Internet of Things. International Journal of Information Management. 35(6).
pp.672-678.
Kyhnau, J. and Nielsen, C., 2015. Value Proposition Design: How to create products and services customers want. Journal of Business
Models. 3(1).
Lüdeke-Freund, F. and Dembek, K., 2017. Sustainable business model research and practice: Emerging field or passing fancy?.
Journal of Cleaner Production. 168. pp.1668-1678.
Pokorná, J and et.al., 2015. Value Proposition Canvas: Identification of Pains, Gains and Customer Jobs at Farmers' Markets. AGRIS
on-line Papers in Economics and Informatics. 7(665-2016-45080). pp.123-130.
Razo-Zapata, I. S., Chew, E. K. and Proper, E., 2016. Visual modeling for value (co-) creation. In 10th Int. Workshop on Value
Modeling and Business Ontologies.
MacWilliams, M.C., 2016. Who decides when the party doesn’t? Authoritarian voters and the rise of Donald Trump. PS: Political
Science & Politics. 49(4). pp.716-721.
Matthews, D., 2015. Special event production: The resources. Routledge.
Skocpol, T. and Williamson, V., 2016. The Tea Party and the remaking of Republican conservatism. Oxford University Press.

APPENDIX 1:
BUSINESS CANVAS MODEL
Key partners
Local suppliers,
customers,
manager,
government
etc. are the key
partners
Key activities
Dealing the
business with
local shops,
managing the
prices of the
products, etc.
are considered
to be key
activities of the
business.
Value
proposition
Values are
maintained in
relation to
providing fair
products and
also resolving
customer issues
regarding
getting delay
delivery of
orders.
The services
which are
offering is
hygienic and
eco friendly
products.
Focusing on
Customer
relationships
company carry
effective
communication
skills to build
relationship with
them. We carry
the long term
relationship with
the customers.
This procedure
is costly as
company had to
appoint the
skilled person to
interact with
customer on
regular bases.
Customer
segments
We are
targeting
Students,
married couples
and less paying
customers.
Students are
most important
in gaining
profits. Our
customer base
is the
segmented
diversified
platform to build
large customer
base.
Key resources Channels

Build strong
relationship with
the local stores,
customer
through such
promotional
activity, deliver
food from
restaurant to
customer,
human and
financial
resources,
physical
resources,
intellectual
property rights,
etc. are
considered to
be key
resources.
youth and adults
who are
preferring the
services and
demanding
innovative ideas
to be adapted
by company.
Through Digital
adds customer
segment is
build. They
integrated
according to the
taste of the
customer.
Through using
the digital adds
it attracts the
customer more.
By providing
innovative adds
to attract their
interest.

APPENDIX 2:
(2)
Table 1Income statement
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Number of parties 5 6 6 7 7 8 9 10 11 12 13 14
Expected number of
guests 250 250 250 250 250 250 250 250 250 250 250 250
Charge per person 300 300 300 300 300 300 300 300 300 300 300 300
Revenue 375000 412500 453750 499125 549038 603941 664335 730769 803846 884230 972653 1069919
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Revenue 375000 412500 453750 499125 549037.5 603941.3 664335.4 730768.9 803845.8 884230.4 972653.4 1069919
Expenses
Administrative
expenses 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000
HR expenses 450000 450000 450000 450000 450000 450000 450000 450000 450000 450000 450000 450000
Logistics 250 275 303 333 366 403 443 487 536 589 648 713
Interest 1400 1400 1400 1400 1400 1400 1400 1400 1400 1400 1400 1400
Total expenses 456650 456675 456702.5 456732.8 456766 456802.6 456842.9 456887.2 456935.9 456989.5 457048.4 457113.3

Profit -81650 -44175 -2952 42392 92271 147139 207492 273882 346910 427241 515605 612805
Table 2Break even analysis
FC 20000
VC 100
Sales price per
unit 300
BEP 100
Finance and financing
Debt and equity both will be used to finance a project. 50% investment will be made through equity and 50% through debt.
Debt will be taken at 7% interest rate. Entire capital amount will be used to develop office and purchase of fixed assets in the business.
Capital amount will also be used to finance day to day business needs.