Entrepreneurship Development

This document provides an overview of entrepreneurship development, including customer value proposition canvas, lean business model canvas, and CIO strategies for the IT department. It discusses the importance of customer-centric approaches, revenue streams, cost structure, and key metrics. The document also explores the role of CIO in aligning the organization and developing strategies for customer engagement. Study material and solved assignments on entrepreneurship development are available on Desklib.

Entrepreneurship Development

Table of Contents
Introduction................................................................................................................................... 3
Customer value proposition canvas..................................................................................................4
Customer value proposition canvas.............................................................................................5
Lean Business Model Canvas.....................................................................................................6
CIO strategies for IT department....................................................................................................10
Financial and financing plan..........................................................................................................12
Summary..................................................................................................................................... 13
Reflection.................................................................................................................................... 15
References................................................................................................................................... 17
Appendix II................................................................................................................................. 18

Introduction
The Lean Startup provides a logical approach to starting and managing new companies,
as well as getting the right product into the hands of customers faster. The Lean Startup engaging
learning experiences about how to run a startup, including how to monitor, transform, and began
to advance a company at the fastest possible pace. It's a solution focused to new product growth.
When the MVP has been set up, a novice will look at where to control the motor (Maurya, 2012).
This included calculation and understanding, as well as key measures that demonstrate the issue
of position and logical outcomes. The idea behind the business venture is to purchase a genuine
PCR system (towards Covid patient identification) and do it in a consumer niche that is currently
forming, as Europe and also most places require a negative result for traveling and to avoid
isolation. According to GOV.UK, voluntary, non-symptomatic monitoring for transport,
children, or company is not available via the NHS. British Airways seems to have a research
facility, but it is not known, since PCR findings are really the only globally recognized and
entirely recognized findings. The most affordable PCR test costs 139 pounds. The computer will
be located in a less expensive rental location, such as the North. Specific sample preparation
points will be created.
Profit, sales revenue and profit margin objective for 3 years:
 Increasing turnover by 20% a year.
 Collecting £40 from each commodity as a profit margin.
 Saving at minimum 40% of operating profits mostly as net sales throughout the year
 Depending on this, gross sales of 5,000 units at £200 per unit must be achieved over the
course of the year.
 Up around 60% of revenue earnings will be held as contingent costs.
Aside from that, the business's other goals are to pitch the item to for at least 100,000 users, with
a 5% sales rate resulting in 5,000 converting consumers generating earnings. Direct marketing,

social networking sites, posters, network ads, public campaigns, and workplace meetings are also
examples of sales pitches.
Customer value proposition canvas
The Benefit Proposition Canvas seems to be a mechanism that ensures that an object or
management is focused from around consumer's wishes and desires. Many of the author created
the Value Praise Canvas as just a framework to insure there is a connection between it item as
well as the market. It was a thorough explanation of how two parts of Osterwalder's bigger
sample model innovation are connected; consumer allocations and deals.
A simple piece of paper with such a wide square mostly on bottom as well as a ring
mostly on right serves as this instrument. It was a graphical series created with the consumer's
payment canvas as well as the reference form in mind. Since a bidder must do something or
purchase the collective's management, this same value proposition being essentially an
advertising that is often widely utilized to summarise a demand for recognition. It was a valuable
promise that needs to be passed on. An institution's commitment to a consumer or a segment of
the market is known as marketing. It was a straightforward reason that a client can buy or handle
from anyone. Motivation can be a one-of-a-kind description that describes how an element
causes anxiety, describes its additional value, and demonstrates why it would be superior to
comparable posts (Ballard, 2018).

Customer value proposition canvas
The circle (Customer Profile)
The narration to that same canvas is usually started with the right component accountable
for the customer's portrait. The system is split into three 3 sections, where errors must be
identified and PCR clients' needs must be met, just as pleasant and unpleasant events occur in
their lives.
Jobs: These are mostly related with financial aspects, transportation and medical facilities.
Economic Pains: Cancelled vacations; Delays in corporate meetings due to COVID 19 pre-tests
and awaiting results for even more that 2 days; Costly testing

Advantages: Stress-free traveling for company and vacations; less expensive that NHS
experimentation; luxurious packages accessible for regular travelers (Paço, Ferreira and Raposo,
2016).
The Square (Value Proposition)
The stimulation path is defined inside a square that is contrasted to a circular pattern; the
entity's area becomes classified into three categories. They equate this to the related group of
messenger images. They will take care of the post here. In the right hand, the focus is on the
goals, utility, and advantages it will have to draw buyers and fulfil their which was before.
Pain Relievers:
 Support adolescents in reading stories through hologram presentations of protagonists to
make things interesting;
 Save money on teachers by delivering an accessible means of schooling to kids aged 4 to
12 years;
 Safe teachers in teaching because, unlike phones, this service is not misused by
youngsters;
 Completely eradicate children's reliance on their family for research and comic book
reading.
Gain Creators:
 Save more than tutoring fees Easy and compelling interface that is beautifully engaging
One-time commitment that pays off all day Either revolutionised the process of schooling
or elevated education to such a new standard (Hobbs, 2011).
Services & Products:
 Envision protagonists inside a 3D holographic using an interactive interface similar to
Alexa.
 To provide a more realistic atmosphere, use a clear voice and shifting character effects.

Lean Business Model Canvas
Lean Canvas through Lean Maurya seems to be a one-page technique template that has
been shape-tested and will motivate reader to incorporate the ideas into the main scenarios. It
was created for Lean Companies but is based on Alex Osterwalder's Canvas Business Strategy. It
does away with business plans in favour of a single-page implementation plan.
The Lean Canvas is really a version of something like the Canvas business strategy that is
tailored towards the mobile space. Events, arrangements, main sizes, and arms are used to create
the canvas. The "Lean Start-up" development process is also reflected in Lean Canvas. The aim
of Canvas Lean is to rapidly develop business opportunities instead of spending time developing
a ground testing process. The lean canvas consists made up of nine sections.
1. Customer segments:

There are groups of individuals or organisations to which you are attempting to sell your item or
management. An implementation plan will target a variety of user clusters, including the
following:
Market segmentation: Customers are not squandered by a supermarket-focused action strategy.
Alternatively, it is aimed at anyone or a wide group of individuals with common needs. For
instance, consider a phone. The emphasis is now on a specific gathering with individuals with
disabilities and traits in such a niche audience. Incentives, transportation networks, and
messenger connections can all be updated to suit their unique requirements (Bhasin, 2012).
Segmentation: Within the final version segment, there could be many meetings based on
somewhat different criteria. To satisfy the various needs of these products, special rewards,
distribution networks, and therefore on could be developed.
Intergovernmental Markets: This category includes set of customers that are self-contained. A
debit card organisation, for instance, pays priority to Credit card members as well as retailers
who accept these items.
2. Channels:
This segment demonstrates how the company interacts with it and engages with its clients.
Customers can communicate with the company across channels, which are at the heart of
interaction.
Diverts is dedicated to increasing consumer knowledge and motivation. Channels may be
used to encourage passers-by to buy goods or services while also providing post-purchase
assistance (Husby and Hamilton, 2017).
There really are two different kinds of networks.
 Owned platforms include things like the company's website, online life locations, and
external agreements.
 Offer pages, coupon delivery, trading, and other partner networks.

3. Revenue Streams:
 Revenue sources seem to be the things that a company makes money by selling its
products or services to consumers. They can also explain how company want to make
money from the deals throughout this square. With one of the corresponding value
propositions, a revenue source will play a part.
 Regularly occurring revenue: received using constant allowance to continue with
governments or comment president’s payment income: provided using single-installment
consumers. They can earn money in a variety of ways, including asset sales.
 By offering land advantages to a consumer Use charge: Pays the user for using or
administering the products.
 Membership Fees: The user is charged a fee of using the article on a daily and consistent
basis.
 Borrowing / lending / renting: the consumer pays for the ability to demand a fixed-term
advantage on a paid basis.
 Authorization: that consumer pays for the right to use the company's defence technology.
 Business Expenses: Income provided from walking among at least 2 meetings as a
standard.
 Promotion: uses corporate criteria to bill the customer for article, management, or brand
ads.
4. Cost structure:
This covers expenses such as consumer acquisition, operating costs, delivery costs, and back-end
production costs, among others. The cost of developing and providing value points, developing
sales opportunities, and retaining client relationships can all be considered by businesses. Then
after the organisation has agreed on its core capital, operations, and collaborators, things would
be much simpler. Business owners is either expense or value-driven, with the former focusing on
reducing spending in other areas and the latter on delivering optimal value to the consumer
(Ghezzi and Cavallo, 2020).

5. Value propositions:
This really is the conceptual obstacle which the canvas's strategic plan focuses on. Often, discuss
a one-of-a-kind approach (opinion piece or administration) for a challenge faced by a
communication agency or which serves as a consumer reward.
The rewards should never be excessive or have the effect of inspiring your rivals. Since they
don't have much else to give, it can be exclusive and challenging. Quantitative (cost and pace of
administration) or individual offers are both possible (experience or messaging plan).
6. Problem:
This segment explains the dilemma in detail. Or what the industry demands? It is impossible for
a company to solve an issue and cover the void by fulfilling consumer demands if the issue is not
resolved.
7. Solution:
It addresses the studied dilemma with a viable solution, but this alternative would fill a business
demand void. This segment further examines the USP for such a company commodity in order to
distinguish it from competitors.
8. Key Metrics:
Below is a list of the key exercises that must be measured. New customer groups, number
of new customers, future market size, extent of market penetration, geographic division, revenue
per user, and so on are examples of templates. They have to do with the kind of knowledge that
investors and business owners are looking for (Chiarini, 2011).
9. Unfair advantage:
This segment explains what can't be replicated from an actual product from another, such as a
copyright or a patent.

CIO strategies for IT department
Consumer participation has been the plan's standard as advertisers aspire to stay relevant
and motivate their clients inside the information society. Customers are increasingly increasing
incoming orders, sharing more brand awareness, but marketers are getting more successful and
secure, marketers are realising.
Customers who are highly committed will be motivated by the foundation's dedication and
therefore will dedicate time and effort to inspiration for the good of the brand. Brands that invest
in a customer loyalty platform that focuses on critical communication. Brands that invest in a
customer communication campaign that primarily generates significant commercial outcomes
through structured publications or governments, content delivered by emissaries, advertised
magazines, as well as a wide brand presence (Burton and Boeder, 2013).
CIO Responsibility:
 Defining the IT department's goals and priorities
 Choosing and deploying appropriate technologies to help simplify corporate processes
and maximise competitive benefits
 Improving consumer service by developing and customising technical frameworks and
platforms.
Below are the ways to develop CIO strategies for IT department:
1. Align the organization:
This style of thought is critical for changing the organisation to focus on the dedication
program's goals. Using vehicle's expertise, understanding, and interpretation, it is possible to rely
on and amend hypotheses.
The technological stool system produces a customer experience step that describes a customer's
journey to elevated amounts of image dedication. The stool can be made in such a way that it
acknowledges an expression of the customers' inspiration.

2. Designing strategies:
Obtaining funding, recruiting individuals again from inter-practical community, and determining
top of the lists all need official assistance in the initial stages. Identifying an official participant
beyond the campaign who might fund the operation with the CIO is a common procedure of
choosing programme support.
3. Developing tactics:
Since the typical consumer expects customised and personalized conferences, it's critical to have
the best communication opportunities tailored to each customer, across all channels: multi-
active, mobile, virtual, and interactive. Related commitment opportunities exist in online and
design marketing, design programmes, physical territories, and customer service.
4. Pilot and scale:
Work under supervision as they plan to present new series of an interaction platform, guiding
ideas and testing them with emissaries to explain merit. Flexible operators, A/B checks, and
rigorous tests have all proven to be good for our clients.
5. Measure and Manage:
The evaluation approach can include evidence to pioneers and organisations that can be used to
create a commitment policy focused on informed business decisions. While I recognize what
must be calculated, I believe it is critical to define the main execution measures (KPIs) that will
disperse the most widely and to look for ways to refine the information so the fundamental
pieces of information are clearly articulated in particular ways.
Financial and financing plan
Cost structure:
The cost system is made up from revenues and expenses which relates to the various categories
of expenditures paid by a corporation. Fixed costs are costs that stay unchanged regardless of

how much revenue an enterprise produces, whereas variable costs differ depending on the scale
of the production.
Cost structure can be divided into two parts; fixed and variable cost
Fixed cost:
These prices are set in existence that means they remain the very same period after month,
regardless of how much the company makes a profits. As a result, the company would make a
minimum profit to cover these monthly expenses.
Variable cost:
This expense varies depending on the number of units produced; it rises and falls as the number
of units produced rises and falls. The firm has a set price of £15,750 as well as a contribution
margin of £120 in this event.
Break even analysis
Breakdown plan is an effective method for deciding when the business, or another factor
or management, is productive. To put it differently, it is a formula based on the number of money
being used assess the volume of goods or services you would have in order to split the costs in
any case. They are neither losing nor earning profit even by way you the make the initial
payment, but all of the bills are covered. This flagship innovation does have a break-even rate of
197 units; beyond this unit, the corporation will lose money, since it is important to bear the least
fixed costs to operate a country's economy.
Fund flow statement
This statement reveals how much money was received by various sources and how the
money was spent by the company. For sources of funds, the company has collected funds via a
debt financing, another owner's fund, investments from everyone else, as well as a short-term
lending from just a small lender.

Summary
Having the chance built on the principle of first coming, first served, this project has a large
business potential. The company is special, because no one has ever thought about pitching that
right idea to the correct patient in such a creative manner. Interested parties or stakeholders who
engage in the lean entrepreneurship potential will undoubtedly see a better potential in the long
term.

Reflection
I had no experience starting a firm. I used to think how an expert required a series of
heavy knowledge to start a company. They should call yourself a company leader and launch the
own business for the job. If you've a budget for all of your requirements and a location to run the
firm, you'll be off to a great start. I didn't realise that starting a company is dependent on the form
of business; for instance, a business needs a unique license to abstain from administrative issues.
While alcohol is purchased in this establishment, approval must be granted for the production
and purchase of spirits. Also, I had no idea that having a vision for opening a company would
support one get through initial stages of the company. I learned that launching a company is a
fantastic way to have a positive impact. First and foremost, the rest began with a speech. In some
topics, conceptual model necessitates a great deal of attention to detail. For instance, determining
the form of company I need is crucial. Online, I have had to think about just what income will do
for myself or what I could are doing on the internet. I wanted to get my company in the
Washington statue location for this project. This implies I'll must do operations in a way which
the Hispanic community will help, which implies I'll have had to stick with what I've already
done.
After deciding on the kind of company I wanted, I thought about why I wanted that and
how I could finance it. I wanted my idea to chart this project, which implied I required this
company to look at afterwards. At that moment, I'm capturing my task call that involves a
detailed description of my business and how I can assist the channel. Finally, my company offers
a challenging cooking class that will help the residents of my neighbourhood. They would be fair
and accommodating to any requests which will assist them in changing their normal diet.
Another crucial concept is to have a company as an investment plan, which entails determining
how much I am prepared to invest on an unoccupied room. Another interesting concept is to
think about a company as a financial strategy, which involves figuring out how much I'm going
to invest through an empty room and the resources I'll need. I'll continue with my training. The
fact of finance dictates that even these arrangements require debt financing to be completed.
Having a company makes a huge difference, and keeping track on what company have do is
critical.

My company specialises in supplying electronic devices with artificial intelligence, such as
Alexa, that are voice activated and produce 3D hologram results in tabletop. The simplest way to
really get started on this concept was to listen to parents' concerns about the educational
environment and what kind of change they want from the industry. I believe there is a fierce
competition for my program because several parents in this city are frustrated with their
children's dull learning methods. I believe it really is my responsibility to assist them. The
benefit a buyer will receive from this service was indeed the basis for the brand pitch strategy.

References
Maurya, A., 2012. Running lean: iterate from plan A to a plan that works. " O'Reilly Media,
Inc.".
Ballard, G., 2018. The Lean Project Delivery System: An Update. Lean Construction Journal.
Paço, A., Ferreira, J. and Raposo, M., 2016. Development of entrepreneurship education
programmes for HEI students: The lean start-up approach. Journal of Entrepreneurship
Education, 19(2), p.39.
Hobbs, D.P., 2011. Applied lean business transformation: a complete project management
approach. J. Ross Publishing.
Bhasin, S., 2012. An appropriate change strategy for lean success. Management Decision.
Husby, P.C. and Hamilton, J., 2017. Make Your Business a Lean Business: How to Create
Enduring Market Leadership. Taylor & Francis.
Ghezzi, A. and Cavallo, A., 2020. Agile business model innovation in digital entrepreneurship:
Lean startup approaches. Journal of business research, 110, pp.519-537.
Burton, T.T. and Boeder, S.M., 2013. The lean extended enterprise: Moving beyond the four
walls to value stream excellence. J. Ross publishing.
Chiarini, A., 2011. Japanese total quality control, TQM, Deming's system of profound
knowledge, BPR, Lean and Six Sigma. International journal of lean six sigma.

Appendix II
Cost Structure (monthly)
Fixed cost: £ £
Salary:
Marketing 5000
Production team 4500
Office team 1750 11250
Rent 3500
Water 500
Electricity 500 4500
Total fixed cost 15750

Variable cost:
Accessories per unit 90
Packaging per unit 10
Assembling 20
120
Break even analysis
Per Unit £
Sales 200
Less: Variable cost @
60% 120
Contribution 80
Fixed cost 15750
Break even point in units
= Fixed cost / Contribution per unit
= 196.875
= 197 Approximate
Fund flow statement
Sources of funds £ Uses of fund £
Bank Loan
50000
0 Plant and Machinery
45000
0
Owners fund
10000
0 Promotion
15000
0
Investment by others 75000 Reserve for Maintenance 55000
Short term loan 16000 Working capital 36000
69100
0
69100
0