Reflection on Business Model Canvas

REFLECTION OR
REACTIVE PAPER ON A
PARTICULAR BUSINESS
MODEL CANVAS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Reflective writing is essential in ascertaining and evaluating the learning that was developed
through particular experience (Dhaliwal, Singh and Singh, 2017). In the current report, reflection
has been presented for the business model canvas developed on the smart table.
MAIN BODY
In order to analyse the learning that was developed through this entrepreneurial venture and
in order to draw appropriate conclusions on the basis of learning that was developed, Gibbs
model of reflective cycle can be used. This helps in analysing the entire procedure of
entrepreneurial learning through certain steps:
Description: While developing the business canvas model for smart table, the major learning that
I learnt was that how an innovative idea can be channelized into something productive or
revenue generating (Tawanwongsri and Phenwan, 2019). Through this Smart Table idea, I
recognised that today we don’t just need to innovate; we need to build upon those requirements
that are still unmet of the consumers. To identify that particular idea and then develop it into a
product that is both feasible and innovative is a very tough task. Another major thing, that I
learnt was how to develop learning through online mediums of connectivity. It was very difficult
to synchronize everyone’s thinking in one direction and further, it was extremely important that
every member believed in the idea that was presented which was a crucial task requiring lot of
patience and listening and arguing. After the identification of the idea of product, identifying its
manufacturing process, raw material requirement, suppliers, customers etc. is also time
consuming and critical in ensuring the success of the business.
Feelings: When we decided to develop the BMC on the idea of smart table the first task was to
identify the sales partners and then develop the value propositions for the product. After this the
resources that were required was also difficult to arrange but the customer segments were
relatively easier to target (Sekarwinahyu, Rustaman and Widodo, 2019). However, we normally
communicated through the Zoom app where it is relatively easier to hold meetings and multiple
screens can be shared at the same time. The major obstacle was that it was difficult to make
others understand what I was try to communicate because during face to face communication I
used to use my charts or written assistance that would make them understand easily but it was
difficult in online learning. Additionally, the efforts that we had to put in integrating our thinking
and actions towards a more productive front utilised a lot of out time. I feel that we are not still
3