Application of Business Canvas Model and Kolb's Learning Theory

This essay delves into the application of the business canvas model, a crucial tool for visualizing and initiating business ventures, alongside Kolb's experiential learning theory. The main body of the essay examines how Kolb's theory, which emphasizes learning through experience transformation, is applied using the business canvas model. The student reflects on their experience of working in a group to create a business plan for Wedding Bells, detailing the practical experiences, reflective observations, abstract conceptualization, and active experimentation stages. The analysis includes the identification of customer segments, value propositions, and key activities. The essay highlights the importance of communication, team building, and strategic planning, and it concludes that the business canvas model can effectively guide business execution. The student also incorporates the insights on the importance of key partners, cost structures, and the need for adaptability and innovation to satisfy customer demands. The essay also mentions the importance of the business to respond to customer feedback to improve services and products.

ESSAY

Table of Contents
INTRODUCTION ..........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................1

INTRODUCTION
Business canvas model is refer as a business tool which is applied to visualise the overall
building blocks of initiating an enterprise. Kolb's experiential learning style theory force the
creation of new concepts which is facilitated through new experiences.
MAIN BODY
Kolb's experiential learning theory explains the method whereby knowledge is developed
by experience transformation. Knowledge outcomes by combining transform as well as grasp
experience. It is basically represented through the four stages of learning cycle where learner
have to considered overall bases. The four stages are as follows: concrete experience, reflective
observation, abstract conceptualisation and active experimentation (Kolb and Kolb, 2012). At the
time of doing report I and my group member apply business canvas model that help me to know
about the model of business in an structured manner. It assists to improve the visual image that is
helpful for conducting this report in an effective way. All four stages are mentioned below:
Concrete experiences, It is fundamentally considered as a practical experiences that any
individuals go through at the time when they are included in some activity. This can be faced in
various methods, variations as well as modes. In this a new experiences or condition is faces or
interpretation of the present experience. While doing this report my experience is great and I get
knowledge regarding many things which are not known by me earlier. The organisation Wedding
Bells, which facilitates various services regarding parties, marriages like event managing,
wedding plan and so on. It provides an learning opportunity to me as well as to my entire team.
While applying business canvas model I get know about the value proposition, segments and
relationships of customers. This model is basically useful for the start up company. As I am very
hard-working with my work. While performing any activities a certain time periods is there at
that time I realised some lack of efforts from my team side. Many disputes as well as
misunderstanding between groups which cause conflicts. Like failing to set a clear goals among
them, failure to know about their problems and so on. Also experiences that there is lack of
communication skills which is an essential for everyone. Due to which at starting they did not
perform well but after considering all the things it is seen that they all are improving their work
and performing well by keeping asides their over all issues. So, from this stage I experiences that
before the matters get worst an discussion has to initiated so that problems can be resolved. All
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team members have good contribution for developing an effective business ideas while using
canvas business model.
Reflective observation, In this experiences are reflected as well as reviewed. It explains
regarding experiment and the individual who experienced it. This permits individuals to think
through experiences as well as know about the happenings (Van Waes, Van Weijen and Leijten,
2014). While developing the business ideas through canvas model as it is a strategic tool for the
development of new company and also analyse the situation of business. While doing this report
I observed the visual aspects of wedding bells. For setting up new enterprises a clear decision
making has to made in advance through utilising business model canvas. In developing the
business ideas of Wedding bells, Canvas business model help them to identify their consumers
and a mass market segment is chosen me. With the help of this tool a value proposition is created
through the wedding bells products as well as services such as catering and designing to their
segment. I also observed that after facilitating services company obtain revenue from that
segment. A high segment are reached with the aids of internet as well as upper middle class is
touched by websites also through brochures middle. I seems that most essential activities for
implementing value proposition for firm. Some activities such as selling and marketing activities
are performed in order to influence their segmented individuals. Also it perform important
activities that is research and development. While using canvas models, key partners of company
are identified like suppliers and consumers. It has to lie on their partners as clients are considered
to be the person who purchase goods and supplier through which products are utilise. Cost
structure which is a block in business canvas tool. This explains about consequences of
monetary. In this, economies of scale, fixed assets are included. It is mainly decided according
to the group segment and also the services which it provides. So, from this stage I observed that
business canvas model is clarifies the various things like key activities, customer segments,
channels, revenue streams, key resources, value proposition, consumer relationship, key partners
and cost structures of wedding bells. Through all these a business ideas is developed by me and
my team.
My reviews regarding the operations of business effectually and significance to satisfy
the customer requirements and customise the services according to demand which is beneficial
for company. Therefore, they can attract more numbers of person in order to connect with firm.
Also acquire the advantage of standard quality of services and products. So, as a results
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enterprise can enhance profitability as well as expand its business. According to me company has
to response on feedbacks get from customers in order to know which part needs developments.
Therefore, issues are to be eliminated and individuals acquire good services and experience good
when dealing with company.
Abstract conceptualization, In this individual tends to utilise theory which are already
known and relate to definite actions, situations and emotions. Here reflection provides growth of
new ideas or changes of present abstract concepts (Jarvis, 2012). It shows what we have learned
from experiences. Abstract conceptualisation, focused towards channelising those observation in
a pre planned approaches. While doing this report I have some negative experiences as
communication help to convey some plan, thoughts and so on their team members which aids to
create an idea. Misunderstanding can be transform into conflicts as various members have
different thoughts. As an entrepreneur, it is important for them to have some skills such as team
building skills, communication skills, strategic planning skills and so on. All these skills help me
to resolve the conflicts, leads the team, allow to make some strategic plan. I experiences many
conflicts among team members which have some negative affects for developing the business
plan. I feel that company wedding bells have to create some ideas innovative ideas. As an
intrapreneur, it is the duty of them to introduce ideas, leading, inspiring creativity and motivating
their team members. The role of intrapreneur to focus towards creativity, innovation as well as
transforms the ideas into profit business. It also help to enhance business productivity and take
risk so that wedding bells can touch the other level. If I will adopt the role of an intrapreneur then
some process may differ. As intrapreneur is responsible for inventions and transformation of
ideas where as this process explains me about the learning experience. I also feel that controlling
as well as directing is essential within wedding bells. So, for that I and my coordinate some
activities for achieving objectives. I have to develop some knowledge regarding cash flow, time,
financial management so that team members can help me to form the structures of cost
effectively on time. Time is taken into consideration as all the task should be performed during
an specific time period. Wedding bells have to serve more quality services in order to generate
profitability as well as creating valuable results into market. The valuable results regarding
conflict situation are unregenerate through values, feeling as well as beliefs of people who are
included in this. From this I have experienced that some important skills are to be developed
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within their team members. So that problems that wedding bells are facing can be resolved and
an effective plans can be developed.
Active experimentation, In this a theory is transform into abstract conceptualisation and
practice that on other situations. This is used to resolve issues, influence individuals or events,
and make effective decisions (DeRue and et.al, 2012). I take risk and execute the theories so that
I get to know about the results. I learn a lot while preparing this report, in this report I learn that
how the ideas were tested in market. In active experimentation stage the wedding bells
organization apply its generated new ideas into market to check the viability of the ideas. This
phase tells the style of implementing new ideas intro market and helps in checking that whether
the ideas are reliable or not. It motivate me to do new things because it enable to know me that
what will be happen if I do this?. It encourages the independent discovery that helps me a lot in
enhancing my learning capacity. This stage help me to check relevancy of my idea. Wedding
bells adopt that style to check the viability of their new ideas about event managements. By the
help of it they apply their ideas to a specific situation and analysing the result from it, take
further steps that whether these ideas adopted for permanent or not. I studied various theories
which are recently tested, in this stage which helps in solving various problems and making
decisions. From this report I get motivation for generating and experiencing new ideas. This
phase motivate to learn new style of learning without any possibility of errors in future because
in this stage reliability of new generated ideas checked in reality. Active experimentation is last
but foremost style of learning in kobles learning styles. Wedding bells also get a lot of help from
it because it provide a platform to accept or reject ideas on the basis of real test not on
assumption basis. I also get a great motivation for generating and testing them from this style of
learning. This is also a practical style of learning style model not a theoretical one. I have also
experienced that it is important for business to perform their key activities in an effectual way.
Some challenges such as an innovative business ideas, financial arrangements and to beat
competitors. Innovative ideas of enterprises can enhance the possibilities to gain more
profitability in order to expand their market share and survive for longer periods. Through
analysing the performance of my team within two weeks, I experienced that we performed well
and some more time are to be taken for conducting this report but at last goals are accomplished
effectively. I get to learned that ideas of enterprises can be executed successfully while applying
business canvas model. Many tools like key activities, customer segments as well as relationship
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and so on. Some steps are to be known by me for assuring the effectual results for final report
and those steps are deciding the goals, knowing the clients, format and types of report, collecting
the facts and informations and report structure.
CONCLUSION
From the above report it is concluded that ideas regarding business can be executed
effectually through applying the Canvas model. The Kolb's learning theory can be utilise to
know about the all four stages. With the help of this learning experiences are reflected.
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REFERENCES
Books and journal
Kolb, A. and Kolb, D.A., 2012. Kolb’s learning styles. In Encyclopedia of the Sciences of
Learning (pp. 1698-1703). Springer, Boston, M A.
Van Waes, L., Van Weijen, D. and Leijten, M., 2014. Learning to write in an online writing
center: The effect of learning styles on the writing process. Computers & Education. 73.
pp.60-71.
Jarvis, P., 2012. Towards a comprehensive theory of human learning. Routledge.
DeRue, D.S and et.al, 2012. A quasi-experimental study of after-event reviews and leadership
development. Journal of Applied Psychology. 97(5). p.997.
Online
EXPERIENTIAL LEARNING (KOLB). Online. 2017. Available through.[https://www.learning-
theories.com/experiential-learning-kolb.html]