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Think Big MGMT20143

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Idea Generation And Business Model (MGMT20143)

   

Added on  2020-03-28

Think Big MGMT20143

   

Idea Generation And Business Model (MGMT20143)

   Added on 2020-03-28

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THINK BIG - MGMT20143TERM-2, (2017)BUSINESS IDEA AND ITS MOST ESSENTIAL BUSINESS MODELCOMPONENTSSUBMITTED BY:STUDENT NAME: DEEPAK RAJ VIJAYAKUMARSTUDENT ID: 12045126EMAIL: d.vijayakumar@cqumail.comSUBMITTED TO:COORDINATOR & LECTURER: Dr. ANGELINA ZUBAC
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DISCUSSION:Ordering and delivering of food is not a new business idea. However, with theconcept of innovation and advancement, the idea of food business has evolved with changingtimes. There have been various options for me to initiate a start-up regarding the grocerydelivery, restaurant table booking, midnight food delivery, etc. I recognized that with thehectic schedule of people with high-stress factor and juggling of work at both work place andhome, there is always a scarcity of time for cooking and preparing own food for work (Ebner,Buhnen &Urbach, 2014). With the upheaval of a hectic lifestyle, there is a direct effect on thehealth of the people in a negative way. This inspired me to initiate a business idea regardingonline delivery of meal boxes which are completely oriented to healthy dietary patterns. The meal boxes that my business would provide would have food dishes that are verycustomized by considering health and diet considerations. People can be very convenientlyordered for the dishes and meals according to their likeness and diet concerns as we do notuse any excessive amount of oil, flours and other food items that pose adverse effects tohealth. People having a hectic work schedule and at the same time desire to have acompletely structured diet through well prepared, light meals can very easily book order theirmeal boxes which will be delivered to them at their desired location within an hour (Ferretti,et al., 2015). They would also be able to have their meals customized which will allow them theliberty to have a mixed combination of food every day. My business of online food deliveryof meal boxes also offers the facility for consumers to book meal boxes for the entire monthwhere they can choose their meals every day at once (Lai, et al., 2016). IMPLEMENTATION OF INNOVATIVE IDEAS:The business model that we follow is much in resonance with the objective of thebusiness to provide healthy meals to people having a hectic schedule. Our businessunderstands that having same boring meals may tend to bore any employee. In order to bringback the deliciousness into the lives of the employees along with removing the hassle ofpreparing food, our business model completely matches the mission of the business.
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• The consumers will need to create a profile on our official website and get registered withthe service platform.• The users will be receiving a message regarding the available options for meals every dayat a particular time so that they can very well be aware and notified regarding the mealswithout making any effort (Winfield, 2015). • The interested users and consumers can very conveniently place the order and make therequired payment online. We would then forward the order to our kitchen to prepare themeals box well accordance with the order of the consumer keeping his or her dietaryrequirements and preferences in consideration (Lai, et al., 2016). After the processing of theorder has taken place, the meal platform will make the collection of the order and implementthe delivery of the ordered meal box to the respective location (work place or home, etc) atthe specified time.DESCRIPTION OF THE INNOVATIVE PROCESSThe innovation process that would be used in the online dietary food deliverybusiness involves the use of new and innovative software and technologies that would behandy to gain orders from the customers and along with timely notification to the customersabout the ordering of the food. This innovative software requires capital as well. The use ofsuch software would be useful for the maintaining records for the orders, the address wherethe order would be delivered, the items that have been ordered along with transactionsundertaken for the business. It is essential to maintain all the records of the activities of thebusiness so that the construction of the financial statements would be possible and this wouldlead to understanding the operational position of the business. The online food deliverybusiness can be deemed as a business that is not new in the market, but it is seen that theinnovative process has been the use of the dietary materials and healthy products that wouldmake the healthy food along with reenergising the taste buds of the consumers. The USP ofthis business has been the assurance given to the consumers about the use of healthy anddietary products for the preparation of their food. The business would even expand with thehelp of receiving feedback from the consumers so that their suggestions and complaints canbe considered and effective plans can be taken with the help of which the business and theoperational activity would enhance and development. The development of the business is
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