Enterprise: Gorgeous Gentian Shampoo - Business Concept Iterations

This assignment presents the development of a business concept for Gorgeous Gentian Shampoo. It begins with an initial business concept, utilizing the business model canvas to analyze key aspects such as key partners, activities, value proposition, customer relationships, customer segments, k...Read More

Enterprise Create own
business
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Table of Contents
INTRODUCTION...........................................................................................................................3
SECTION 1......................................................................................................................................3
Presentation of original business concept...................................................................................3
SECTION 2......................................................................................................................................4
Testing of original business concept...........................................................................................4
SECTION 3......................................................................................................................................7
Presentation of second iteration of business concept..................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
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INTRODUCTION
It is essential to have new and effective idea which is helpful in order to create an
enterprise (Weill and Woerner, 2013). The chosen company for this report is Gorgeous Gentian
Shampoo company that is offering high quality products for customers. This is UK based
company that is providing its products to different part of the world. This report includes
business concept of new venture. In this, feedback is taken in order to modify as well as enhance
the business concept. Apart from this new business canvas model is developed on the basis of
feedback modifications.
SECTION 1
Presentation of original business concept
Business concept includes the idea of new venture on which company will perform task.
It is significant that concept on which business is develop is able to meet with customers
requirement. Business canvas model is an effective tool that will support Gorgeous Gentian
Shampoo company to identify different aspects of business (Das, 2016). Canvas model of
business will help in analysing various aspects of business such as key partners, activities, value
proposition, customer relation, customer segments, key resources, channels, cost structure and
revenues streams of business. Business canvas model in context of respective company mention
below.
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SECTION 2
Testing of original business concept
I have presented the concept of Gorgeous Gentian Shampoo business in my class. This is
helpful in identifying the impact of business and its capabilities in market environment. My
teacher, friends and classmates has shared their view point and feedback with the me. There
feedback is very supportive in modifying the concept or idea of business in order to achieve
desired goals. In this presentation I have clearly explain the concept of Gorgeous Gentian
Shampoo business properly in order to provide complete information to them. I have shared each
and every aspect of business with my teacher and classmates. This is helpful in identifying as
well as evaluating pros and cons of respective business concept (Wetherly, 2014). This aid in
taking better decisions for growth and development of respective business. The feedback given
by teachers and classmates has been helpful in modifying the business concept in order to
enhance the overall performance of organisation. I have discuss this business concept with
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online groups which includes my fellow students. Online discussion group is a great platform
where I can discuss the concept or ideas of business with other students in order to enhance
performance of respective business.
The feedback is majorly related to the improvement and modifications in performance of
businesses. By evaluating the feedback, I have identified some areas in which I needs to make
modifications in order to accomplish set goals and objectives. The feedback taken through
discussion will help in enhancing the products and services of Gorgeous Gentian Shampoo
company that will lead to meet with the requirement of customer. This is helpful in full filling
customers’ needs as determining different ways to modify the current products (Whittle and
Myrick, 2016). These modifications will help in attracting more customers towards business.
Analysis as well as evaluation of different feedback is given below in detail.
Labels – It is feedback given by my teacher that I should also add information about the
products on its bottle. This will help in providing complete detail about the products and
ingredients. By teacher has explained me that it is responsibilities for makers to provide warning
label or information about ingredients that has been used in production of Gorgeous Gentian
Shampoo for skin allergy person. This will also help user to apply the product carefully and use
it appropriate in order to get best results.
Recycling material – It is suggested by my friend that I should use recyclable plastic
bottles for Gorgeous Gentian Shampoo products. This should have proper information about all
the ingredients as well as raw materials that is used for making products. Usage of recycling
martial in development of products will lead to have positive impact on society and environment.
Through this respective company will be able to develop strong and positive brand image of
company in market area.
Solution to problem - Gorgeous Gentian Shampoo products includes natural ingredients
that have anti damage properties. My classmate has given me a feedback that I should develop
and promote product that is helpful in resolving the individual issues. The products that is
developed by respective company should be able to meet with the requirement of customers
(Eggers and Macmillan, 2013). It has been determining that it is important the customers
perceive GG shampoo products as a solution to their problems and to strengthen the hair.
Competitive advantages – My teacher has suggested that I should identify as well as
analyse the major competitors of Gorgeous Gentian Shampoo business. This will help in taking
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an effective decision. I have analysed that by comparing Gorgeous Gentian Shampoo company
and its products with rival company I was able to determine various aspects that will help in
gaining competitive advantages over other rival companies. Through this I have analysed that
rival companies are using more chemical in manufacturing of shampoo products which can
damage hair of customers. So usage of natural ingredients as well as raw material in
development of products will lead to gain competitive advantages over other rival companies
(Galpin, 2017).
Gentiant violet quantity – It is suggested in the online group discussion that while
modifying Gorgeous Gentian Shampoo products I needs to increase the quantity of gentiant
violet. So that it can have stronger impact on the hair colour. In current business concepts
respective company is using Gentiant violet that is lead to have purple hint on blonde hair.
According to the feedback, Gorgeous Gentian Shampoo company needs to higher the quantify of
gentiant violet ingredients in it products. So that this product will lead to have impact on dark
hair as well.
Cost structure – There are different types of cost that occur while conducting different
activities of business. It is essential to evaluating all the cost of business in order to take better
decision for organisation. In current business concept the major cost of Gorgeous Gentian
Shampoo business in order to develop an effective product includes rent, suppliers, advertising
cost, taxes, utilities and so on. The total cost per products to respective business is £ 1.50 for 250
ml bottle. In this respective company needs to increase shipping cost £ 0.25. this will help in
increase the total cost of per product to £ 1.75.
All of these feedbacks that is given by teachers, classmates, friends and fellow students is
very supportive in enhancing the concept of business, conducting task and activities in effective
manner (Sarma, 2017). So I needs to consider all of these feedback in order to modify concept of
Gorgeous Gentian Shampoo business.
SECTION 3
Presentation of second iteration of business concept
After analysing the feedback and suggestion from teachers or fellow students, I have
identified certain changes in the concepts of business model. These changes will help on enhance
the overall performance of organisation as well as providing high quality products to potential
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customers. Once all the changes have been evaluated new and modified business canvas model is
developed. I have determined that changes will lead to have positive impact on growth and
development of Gorgeous Gentian Shampoo business (Lambert and Davidson, 2013). It has been
identified that respective company will be able to gain competitive advantages over other rival
companies by offering more natural ingredients. This will help in resolving the hair issues and
lead to purple hint on hair. As per the feedback this company needs to add more quantity on
gentiant violet while manufacturing shampoo products. This will effective work on darker hair
and this company will be able to target customer with blonde and dark hair. Shampoo of
Gorgeous Gentian will not cause any chemical damage to consumer hair and this will help in
gaining competitive edge over other rival companies in market.
Modification on the concept of respective business will lead to have impact on value
proposition. Gorgeous Gentian Shampoo company needs to use recyclable material for
development of product. It is essential that this company providing products with proper labels
as well as accurate information about ingredients. With this feedback, warning label is also
introduce on the back of shampoo bottle for those customers who are allergic. This will help in
developing better relationship with customers as well as creating strong brand image in
respective market area (Kurniawan2013). There are major changes in the cost structure of
Gorgeous Gentian Shampoo company. In new business concept of respective company it is
essential to add shipping cost. The estimated shipping cost per products for Gorgeous Gentian
Shampoo company is £ 0.25 and this will increase the overall cost of company.
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Business Canvas model
Key partners
 Distribute
s and
suppliers
 Bloggers
 Beauty
salons
 Barclays
banks
 UK
testing
laboratory
partners
Key activities
 Productio
n and
manufactu
ring
 Marketing
 Finance
 Sales
Value
proposition
 Recycle
products
bottle.
 Warning
label for
skin
allergy
customer.
 100 %
natural
product
for
resolving
hair
problems
 Unique
product
 Two in
one high
quality
products
Customer
Relationship
 After sales
services
 Social
networkin
g sites
communic
ation
 Promotion
and
discounts
 Customers
reviews
Customer
segments
 Customer
with
blonde
and dark
hair
 Men and
Women or
teenagers
with
blonde
hair
 Beauty
salons
Key Resources
 Natural
resource
for
product
developm
ent
 Human
resource
personnel
 Equipmen
t’s
 Technolog
y
Channels
 Online
advertisin
g through
Facebook,
twitter and
Instagram
 Delivery
channels
such as
Amazon,
eBay,
Superdrug
, etc.
 Official
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website
 Beauty
shops
Cost structure
 Shipping cost
 Bank loan
 Promotion cost
 Suppliers cost
 Designer
 Website
 Staff, rents and other resources cost
Revenues streams
 Profits through online and
offline sales
CONCLUSION
From the above report it has been concluded that it is essential to develop an impactful
business concept and idea. Successfulness of an enterprise is completely dependent on the
concept in which business is developed. Apart from this business canvas is an effective model
that will support in identifying different aspects of organisation which will have impact on
organisation.
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REFERENCES
Books and Journals
Weill, P. and Woerner, S.L., 2013. Optimizing your digital business model. MIT Sloan
Management Review, 54(3), p.71.
Das, S., 2016. Data Science Using Oracle Data Miner and Oracle R Enterprise: Transform
Your Business Systems Into an Analytical Powerhouse. Apress.
Wetherly, P., 2014. The business environment: themes and issues in a globalizing world. Oxford
University Press.
Whittle, R. and Myrick, C.B., 2016. Enterprise business architecture: The formal link between
strategy and results. CRC Press.
Eggers, W.D. and Macmillan, P., 2013. The solution revolution: How business, government, and
social enterprises are teaming up to solve society's toughest problems. Harvard
Business Review Press.
Galpin, T.J., 2017. Creating a culture of sustainability in entrepreneurial enterprises.
In Entrepreneurship, Innovation and Sustainability (pp. 78-97). Routledge.
Sarma, K.S., 2017. Predictive modeling with SAS Enterprise Miner: Practical solutions for
business applications. SAS Institute.
Lambert, S.C. and Davidson, R.A., 2013. Applications of the business model in studies of
enterprise success, innovation and classification: An analysis of empirical research from
1996 to 2010. European Management Journal, 31(6), pp.668-681.
Kurniawan, N.B., 2013, November. Enterprise Architecture design for ensuring strategic
business IT alignment (integrating SAMM with TOGAF 9.1). In 2013 Joint
International Conference on Rural Information & Communication Technology and
Electric-Vehicle Technology (rICT & ICeV-T) (pp. 1-7). IEEE.
A. Harris, M. and P. Patten, K., 2014. Mobile device security considerations for small-and
medium-sized enterprise business mobility. Information Management & Computer
Security, 22(1), pp.97-114.
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FEEDBACK
1. Warning label information’s on the back of the bottle about skin allergy.
2. Bottle needs to be recyclable plastic and need to have the label on it.
3. The problem-(product) the solution => more information’s
4. The reason from the back of the business
5. Compare with competitors and find advantages
6. Improvements based on potential customers
7. To Create a second product but for a large pallet of hair colour- a bigger
quantity of gentiant violet in the shampoo for a stronger effect on darker hair
colour
8. Cost structure-how much does it cost to produce 1 piece of product
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