MN5W50QA - Business Model Canvas Iteration & Reflection Assessment

This assignment presents a business idea focused on developing a communication system for inmates to connect with their loved ones through reward points for good behavior. The report details the business model canvas across three versions, reflecting on the initial idea, changes after a pitch, and a final refined version. Key aspects covered include key partners, activities, resources, value propositions, customer segments, channels, cost structure, and revenue streams. The reflection sections discuss the history behind the idea, understanding of reflection, assumptions, and testing strategies. The core aim is to address the communication challenges faced by inmates and their families, providing a platform for more frequent and meaningful contact.

MN5W50QA - Creating a Winning Business
ASSESSMENT 2 Workbook:
Business Model Canvas - Iteration and Reflection
Student Id: [type here]
Lecturer: [type here]
Submission Date: [type here]
NOTES
1. You should stick to one page for each of the parts. To achieve this, you may reduce the font size if needed (no smaller then 8) and you can delete the
guidance words in italics
2. Make full use of the Guide questions in italics in the Workbook
3. For Versions 2 and 3 of your BMCs – you ONLY need to show the changes from the previous version
In the box below, please explain in simple terms, your business idea. Maximum of 100 words
Page 1
The business idea mainly consists of the plan which is developing a system for the inmates who can contact with their loved ones. The
inmates or the prisoners will get the opportunities to speak or meet to their friends and family by earning some reward points. But this will
be only for those inmates who behave courteously and decently in the prison. Although, the loved ones could directly message and speak to
their inmates using that system.

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
Cost Related Revenue Related
Key Partners
Who are our key partners?
Who are our key suppliers?
Which key resources will our
partners provide? Which key
activities will our partners
perform?
Type here:
The key partners for the business
plan are networking companies,
cyber security companies, Data
protection organisations and a VIP
security company. The key
resources utilised are androids
iphones, iPads and
The key activities that the business
has decided upon to be performed
by the inmates are divided into
three different heads. The heads
are as follows:
 Audio calls
 Video calls
 Personal visits.
Key Activities
What key activities do our value
propositions require in order to
produce, market and deliver
them? What about channels,
customer relationships, different
revenue streams?
Type here: The key activities that
the business will require to
perform for providing the decided
resources to the inmates inside
the jails are deciding upon the best
suited networking, cyber security
and VIP security organisation
which will provide for and deliver
for the resources that are required
in the jail for the inmates. Deciding
upon the suitable companies for
the required services is very crucial
as the service channels and the
revenue streams for the business
will highly depend upon the
selection of the companies.
Value Propositions
What value do we deliver to the
customer? Which of our
customer’s problems are we
helping to solve? Which customer
needs are we satisfying?
Type here: The value propositions
that the business has aimed to
solve for the issues that the
inmates in about 87.5 thousand
inmates living in 150 prisons in the
UK, Wakes and Scotland and their
families face due to the problems
relating to delay happening in
connecting with them more often.
This problem is the major issue
that the business has aimed to
solve for. The emotional needs of
the inmates, their need to be
connected with their family
members and the requirement to
talk to people outside the jail
surroundings , once in a while is
the major needs that this business
idea is satisfying.
Marketing & Sales
Communication
How will we raise awareness of
our products and services with our
target customer segments? What
messages or offers will create
desire and interest? How will those
messages reach our potential
customers? e.g. Facebook ads
Type here: The marketing strategy
of the business includes pitching
this idea in most number of NGOs
that are currently working in the
UK so that they can raise further
more awareness for the business.
Collaborating with various
government societies and
organisations who can help the
business to reach more and more
families who have someone who is
in jail as an inmate.
Customer Segments
For whom are we creating value?
Who are our most important
customers?
Type here: The customer segment
for the business includes 87.5
thousand jail inmates who live in
150 prisons in the UK, Wakes and
Scotland and their families. The
inmates and their families remain
the most important customer
segment of the business.
Key Resources
What key resources do our Value
Propositions require e.g. physical,
intellectual, human, financial?
What resources do our channels,
revenue streams, customer
relationships require?
Type here: These key activities
provided to the inmates are phone
calls, video calls and personal
visits.
The key resources utilised by the
Product & Service Delivery
Channels
How will customers purchase and
receive the product or service?
What about after sales support
e.g. returns? Where will the
marketing communication direct
customers to?
Type here: The product and
service delivery charges are fully
funded by the jail authorities and
the channels are distributed within
Page 2

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
business are iPhones, android
phones, iPads and computers for
the purpose of audio calling, video
calling, personal meeting setups
and for sending emails.
the jail and the company providing
the services with no middlemen
being in between. The business
takes the sole responsibility in
itself to provide the products and
services taking directly from the
sellers and giving to the jail
authorities.
Cost Structure
What are the most important costs inherent in our business model? (think about fixed and
variable costs). Which resources and key activities are most expensive?
Is the business model more cost driven (helping the customer save money) or value driven?
Is there an opportunity for economies of scale?
Type here: The most important costs are based upon the services used by the inmates
based on the obtained by the prisoners for the daily activities combined all together for 15-
days’ time period conducted by the jail department which then converts to the services
utilised by them. The video calling facility is the most expensive as the data charges and the
network requirements are on the pricey side. But the business model is less cost driven and
more society driven as it aims to benefit the inmates and their families in the best ways
possible.
Revenue Related
What value are our customers willing to pay for? What are they paying now? How do they
currently pay and how would they prefer to pay? How much does each possible revenue
stream contribute to overall revenue? How might we price this product or service e.g.
subscription, fixed or variable pricing, pay in advance, PayPal?
Type here: The most important costs are based upon the services used by the inmates
based on the obtained by the prisoners for the daily activities combined all together for 15-
days’ time period conducted by the jail department which then converts to the services
utilised by them. The video calling facility is the most expensive as the data charges and the
network requirements are on the pricey side. But the business model is less cost driven and
more society driven as it aims to benefit the inmates and their families in the best ways
possible.
End of page 2
Page 3

Business Model Canvas Version 1: Reflection (Maximum 400 words for the page)
Explain the history behind your idea: e.g. how did you come up with the idea, why
do you think it will be successful? Why do you think you are the right person to
develop this idea?
Type here: I had seen the problem or an issue of the family and friends facing a
challenge to communicate with their inmates. So, it could be possibly being
important for everybody to remain in contact with their loved ones. So, the
business idea rose from this problem and to develop a platform for contacting
them. It would be very essential for them to
The problem the inmates and their loved ones don’t have the possibility to keep
contact more often. The solution is to create a platform for the inmate’s family and
a tablet for them so they can stay in contact and to encourage to become the best
version of them.
Reflection: What do you understand by the term ‘reflection’? What is an ‘action
learning set’ and why might it be more effective than individual reflection?
Type here: It is a method to explore the problems which is backed up by an past
experience. It is an action plan to change their opinions in to reality. It provides an
advantage to tackle the misunderstandings, through observations and from past
learnings. In this person has to think about various alternatives and conclude the
reasonable interpretation. It helps to work with team unity with quick response
and main norms and guidelines. It helps to solve the problem solving troubles. It
increase the learning of the people and to be discipline and to work the activities in
a regular way.
Assumptions: What are the main assumptions behind your business idea? How
could you test those assumptions?
Type here: The assumption behind the business idea is to the marketing strategy
and the capital that is to be invested in the business.
End of page 3

Business Model Canvas Version 2: After the Pitch (just provide changes since last version) Maximum 400 words for the page.
Cost Related Revenue Related
Key Partners
Who are our key partners?
Who are our key suppliers?
Which key resources will our
partners provide? Which key
activities will our partners
perform?
Type here: The key activities
provided by StayConnect to all
87.5 thousand prisors are phone
call facility, video call facility and
physical interaction with their
families.
Key Activities
What key activities do our value
propositions require in order to
produce, market and deliver them?
What about channels, customer
relationships, different revenue
streams?
Type here: StayConnect provides
facility to connect inmates with
their families. This step by them
assist in solving the issue of
communication between the
inmates and their families.
Value Propositions
What value do we deliver to the
customer? Which of our
customer’s problems are we
helping to solve? Which customer
needs are we satisfying?
Type here: Product can be
advertise in newspaper, templates
and on social media platforms.
StayConnect tries to provide
quality product at nominal prices
to connect its customers on large
basis. Product will reach to its
target customers by social media
marketing and physically through
posters and templates.
Marketing & Sales
Communication
How will we raise awareness of
our products and services with our
target customer segments? What
messages or offers will create
desire and interest? How will those
messages reach our potential
customers? e.g. Facebook ads
Type here:
Customer Segments
For whom are we creating value?
Who are our most important
customers?
Type here: The product is being
created for 87.5 thousand inmates
and their families who do not
speak with their family often, so
that they can connect with them
at any time. The most important
customers are all 150 prisons in UK
and their families.
Key Resources
What key resources do our Value
Propositions require e.g. physical,
intellectual, human, financial?
What resources do our channels,
revenue streams, customer
relationships require?
Type here: The key resources are
android phones for calling facility,
tablets, headphones, mic for video
calling facility, cctv for recording
their activities while their
interaction with their families and
computers for email services.
Product & Service Delivery
Channels
How will customers purchase and
receive the product or service?
What about after sales support
e.g. returns? Where will the
marketing communication direct
customers to?
Type here: The customers will
receive their products and services
physical at their premises.
StayConnect provides setup facility
of the system in prison. Its
customers can directly connect
with the organisation in cases of
any discrepancies on behalf of
company.
Cost Structure
What are the most important costs inherent in our business model? (think about fixed and
Revenue Related
What value are our customers willing to pay for? What are they paying now? How do they

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
variable costs). Which resources and key activities are most expensive?
Is the business model more cost driven (helping the customer save money) or value driven?
Is there an opportunity for economies of scale?
Type here: Stayconnect will incur cost on providing tablets, headphones, mic, CCTV, android
phone and computer and also incurs cost on providing cyber security to its customers.
Tablets, headphones, mic, cctv and android phones are most expensive resources. On the
other hand, video calling activity and cyber security activity are most expensive for the
organisation. Computer can be taken on hire, this will assist the organisation in reducing
costs and also help customers in cost saving.
currently pay and how would they prefer to pay? How much does each possible revenue
stream contribute to overall revenue? How might we price this product or service e.g.
subscription, fixed or variable pricing, pay in advance, PayPal?
Type here: StayConnect will generate revenue from providing resources such as tablets,
android phones, CCTV, mic and headphones. Service charges for visit can also be included in
the revenue generated by company. Rent paid for hire of computers also results in the
revenue for StayConnect.
End of page 4
Page 6

Business Model Canvas Version 2: Reflection (Maximum 400 words for the page)
Pitch: How did you prepare for your pitch? What went well or not so well? What
have you learnt from the experience?
Type here: First of all, telling the investors about the plans of the company and its
benefits for the company after all by investing for the product. Showing the
investors that this idea of video calling, meeting should be spread in every prison of
UK. By doing that network of this idea is extended to every prison of the UK.
Secondly, building the strong brand image in the mind of investors by promoting
the idea or by mode of advertising the brand image can be improved.
Thirdly, Spend more time on the presentation which is completed or which is
polished and can be represented to the investors.
After that, the most important thing is to find a genuine investor so that they are
easily convinced and by doing that the company can save its time and money.
Assumption Testing: How have you tested the main assumptions behind your idea?
How has your business model canvas been updated and changed and why?
Type here: As it is newly initiated idea, we have thought that there is tough
competition in this kind of business so all the plans and strategies are made
according to them. But as this business model and product is new there is no
competition in the business for the company. The cost for the products is also low
as we have expected and made the budget according to that. In the initial period,
company can supply sample products to the prisons. As this is a new business
model there is big scope of making huge profits if the business because of the low
competition. Calculating the manufacturing costs and overhead costs and buy
setting up aggressive prices for the products can enhance the profitability of the
company.
Comment on your Action Learning Set: What helpful advice, if any, have you
received from other people in your group? What advice or help have you given?
What has worked well and what could you do to make your group more effective?
Type here: Helpful for the people in the prison by making their lives easy in way
that they can easily see their family and friends and listen to their voice. By doing
this the prisoners, can stay away from depression and anxiety. Services which we
can provide to the investors like using of a special discounted offer for the product
while investing for the company, making use of the google in business or tie up
with google so that all the necessary tasks are completed over a voice command
easily. By providing loyalty to the customers in terms of product and service. By
spreading idea or business model to the investors on emails all over the world so
that a great network of potential investors can be build.
End of page 5

Business Model Canvas Version 3: Final Refined Version (just provide changes since last version) Maximum 400 words for the page.
Cost Related Revenue Related
Key Partners
Who are our key partners?
Who are our key suppliers?
Which key resources will our
partners provide? Which key
activities will our partners
perform?
Type here:
key partners for arranging tablets
and computers is Apple.
Telecom partner is Vodafone
For arranging networking calls is
through Zoom .
Cyber security and data protection
will be taken care by Nexor.
Key Activities
The customer will be provided
services like emails writing, phone
call, video call and in person visit
with their family and loved ones.
Cyber security, data protection
and other.
Key Activities
What key activities do our value
propositions require in order to
produce, market and deliver them?
What about channels, customer
relationships, different revenue
streams?
Type here:
Value Propositions
What value do we deliver to the
customer? Which of our
customer’s problems are we
helping to solve? Which customer
needs are we satisfying?
Type here: The customer for the
product is inmates company
provide them chance to interact to
their loved one and be connected
to them on regular basis.
Basically the customer are going
through a tough time so in order
to make this hard time easy for
inmates and their family this
system is being implemented.
It will a great move as social
upliftment and improvising
situation inside the prison.
Marketing & Sales
Communication
How will we raise awareness of
our products and services with our
target customer segments? What
messages or offers will create
desire and interest? How will those
messages reach our potential
customers? e.g. Facebook ads
Type here: The prisoners who are
jailed must be given some
motivation so that the have
purpose for improvement. In order
to amend the mistake and become
a better person in life they need
their loved one so they get a
motivation to be a better person.
This product will be communicated
through activist, campaigns in
context of society upliftment
Customer Segments
For whom are we creating value?
Who are our most important
customers?
Type here: The customer for
whom the services will be
delivered to are 180 prisons of U.K.
Who have about 87.5 thousand
prisoner.
The most important prisoners will
be all who seek to interact to their
relatives. Communicate to them
through video call , phone call or a
visit in a jail.
Key Resources
What key resources do our Value
Propositions require e.g. physical,
intellectual, human, financial?
What resources do our channels,
revenue streams, customer
relationships require?
Type here: For the system be
successfully implemented tablets
for interaction, computers for
mailing, cyber securities officials ,
CCTV cameras are needed
Product & Service Delivery
Channels
How will our customers purchase
and receive the product or service?
What about after sales support
e.g. returns? Where will the
marketing communication direct
customers to?
Type here: the inmates can
purchase the tablets in prison
itself. In-case of any mistake with
product inmates can communicate
to appointed authority. That
authority can have direct word
with the company and resolve the
issue.

Business Model Canvas Version 3:
Cost Structure
What are the most important costs inherent in our business model? (think about fixed and
variable costs). Which resources and key activities are most expensive?
Is the business model more cost driven (helping the customer save money) or value driven?
Is there an opportunity for economies of scale?
Type here: the main cost is of providing tablets and after sale services for it. Computers
installation and maintenance. CCTV cameras and other cyber security tools. Professionals
who will look into data protections and other security. Person will coordinate with activities
inside the jail so that smooth working takes place.
Revenue Related
What value are our customers willing to pay for? What are they paying now? How do they
currently pay and how would they prefer to pay? How much does each possible revenue
stream contribute to overall revenue? How might we price this product or service e.g.
subscription, fixed or variable pricing, pay in advance, PayPal?
Type here: The revenue generated from selling tablets will be 90 euro, rent charges for
computer will be per hour basis. Calls will be charged on standard changes of £3.65 per 90
seconds. Visit arranging service charges. The idea is for social welfare minimum charges for
the activities will charged so that operations go smoothly.
End of page 6
Page 9

Business Model Canvas Version 3: Reflection (Maximum 400 words for the page)
Iterative Journey: How has your idea changed since the last version of your
Business Model canvas? How have your assumptions changed? What evidence
have you gathered during the last few weeks to support your initial assumptions
about your business idea or to challenge those assumptions? What do you know
about your target customers now that you didn’t know at the start of the module?
Type here:
This is first time initiated idea. So there is no last version of business model canvas.
And in this idea, there are lot of assumptions which have changed throughout the
idea. Such as I assumed that there would have number of competitors but as it new
raw idea so there are no competitors which we need to target, before execute the
plan we have estimated less cost but for purchasing the equipment’s like tablets
and all it has incurred heavy cost and the last and main assumption is that most of
the prisoners don't know the accessibility of the tablets and any other equipment’s
but it was assumed that mostly of them would know how access the tablets.
When I enter into the market then I realised that there are no competitors and I
have the monopoly of this plan in today's scenario and after observing the
prisoners I got that they are not know the accessibility of this type of technology
and resources. And at the end when I have calculated the all over cost then I
accomplished that there has been incur heavy cost.
There are no competitors which are existing in the market as it is newly launched
idea.
Competitor Insight: What is the difference between a ‘direct’ and ‘indirect’
competitor? Who are your businesses main direct competitors? Who are the main
indirect competitors, and why? Which other business are ‘analogues’ e.g. offering
service in a similar way but to different customers, or trying to reach the same
target customers with a different product or service? What have you learned from
a competitor(s) or analogue (s) that has informed your business idea? How is your
product or service different or better than your competitors, how will it stand out
from the crowd?
It is the first company who think for the business so there is no direct competitor as
well as indirect rivals in this market. It is the best for company that it has own
monopoly in the market. Business owner can charged higher prices from jail
authorities for supplying this products. It is possible for owner to have wide reach
of its product and and services. As there is no competitor company has not learned
how to take competitive advantage and how to differentiate or innovate its
products. There is no competition in this market company is enjoying its position.
Cost & Risks: What are the biggest risks or obstacles in delivering your project and
how might you reduce or overcome them? What type of funding might you need for
your venture and where might you source this?
Type here:
This business has faced risk of high cost and more time in manufacturing the
product. The raw materials or many other cost has incurred in this product make
the product expensive. Company also has to spend high on technologies and
innovation to cope up the changing environment conditions. Company has to hire
specialist and experts to performed on this project. Second is prisoner don't know
how to use these advanced technologies so there is need to provide training and
keep updated them. I take loan from banks at low rate and I pitch from investors

Business Model Canvas Version 3:
because it for the welfare of the society.
End page 7
Page 11

References
List of Web Resources (at least 3)
List the web sites that you have used for your research. Note: you don’t have to cite
them using the Harvard author-date format in the previous pages; you can just list
them here e.g.
http://grasshopper.com/blog/startup-competition-guide/
Academic Sources (at least 3)
These should be listed in full Harvard Format below and in author-date format in
the earlier pages e.g. on page 3 you might say “reflection is a form of looking back
(Smith, 2014)” and below you would cite this fully:
Smith J. (2014) Theories of Reflection, 2nd. Edn., Prentice Hall: London
Glass, Cynthia. "Business Plan for Southwest Michigan Trolley." (2019).
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Suharno, A.S., 2018. BUSINESS PLAN FOR IPAIRS (Doctoral dissertation,
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Vian, J.M.M.S., 2018. “Easy Rent” business plan: a household appliances renting
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