Innovation in Business: Food & View Multi-Cuisine Restaurant

Running Head: Innovation in business 1
Think Big

Innovation in business 2
Contents
Introduction......................................................................................................................................3
The Problem.....................................................................................................................................3
Benefits............................................................................................................................................4
Feasibility........................................................................................................................................6
Organizational structure...................................................................................................................6
Sources of finance............................................................................................................................6
Forecasted revenue.......................................................................................................................7
Business Model................................................................................................................................7
Critical success factors....................................................................................................................8
Conclusion.......................................................................................................................................8
References........................................................................................................................................9

Innovation in business 3
Introduction
The report investigates the new business by using the nine component business model canvas as
well as value proposition canvas to decide the critical success factors along with the feasibility of
a competency model in Boat Chain Restaurant. This report will analyze the target market of the
new market and proposing a plan not to resolve a problem in specific, but to connect with
customers in a different way for a new business idea. Along with that this research will include
the description of the new business idea and the reason behind choosing this idea. The business
model will be elaborated under this report.
The Problem
Tourism is a biggest industry of Australia that contributes in huge manner in the economy of the
country. The huge cuisine, splendid beaches and wilderness are things that tourists look forward
to when they explore Australia (Johnson, Christensen & Kagermann, 2008). It has been found
that the country has breathtaking beaches and the coastal life is more than food or the beach. It is
necessary for the tourism industry to provide extra and innovative services to the tourist of the
country as number of tourists visit Australia every year. Tourists look forward to the more
relaxing environment over there as it is the experience that fetches them towards the coastline
and country. It is required for the tourism to bring together the amalgamation of mouth-watering
delicious food and serene waters to provide a better and different experience those tourists
remember.
About the new business idea

Innovation in business 4
It has been found that the attracting tourists are the easiest way to get the attention of various
tourists towards the rich heritage and nature of Australia. The new business idea for this
assignment is the link of two striking concepts in which firstly, the coastal view and calm
beaches and along with the knowledge of having multi-cuisine restaurants. This idea is referred
to as the Chain of Boat Restaurants where a lot of facilities will be provided to the tourists.
Customers of this restaurant can sit back and enjoy a boat ride along with that they can have food
at the same time. It would be considered as the multi-cuisine restaurant in which kitchen would
be entailed which would away from the shore. There would be a facility for the tourists in which
they can place an order at the stall situated near the beaches and get the facilities of a
combination of the attractive idea in their respective boats. There would be a facility to place an
order via phone that can link to the counter at the shore. There would be space of 6-8 chairs and
2-3 tables on per boat. An appropriate name for this innovative idea would be “Food & View”.
However, the menu would be limited for this innovative idea. It is required for the business to
keep special attention towards the hygiene and ensuring that waste should not be disposed of
anywhere by the shore.
The main aim of this innovative idea is to bring the attention of a number of tourists towards the
delicious foods and beach view which would contribute to the economic growth of the country. It
would enhance the business opportunities to expand business in other places as well and amplify
the revenues of the new business (Gibler, Manuel Casado-Díaz, Angeles Casado-Díaz,
Rodríguez & Taltavull, 2009).