LCBS5058: A Comprehensive Report on Business Enterprise Development

This report delves into the multifaceted aspects of business enterprise development, covering key areas such as enterprise ecosystems, business model canvases, customer segmentation, and customer needs. It explores various business structures, including sole proprietorships, business corporations, and limited liability companies, while also examining the significance of intellectual property and its exploitation. Furthermore, the report addresses digital marketing strategies, networking effects, and the role of business insurance. The content encompasses an understanding of how a business develops and implements an enterprise ecosystem, the value of the business model canvas, customer segmentation, and ways to overcome customer problems. It also distinguishes between different types of business boards and legal structures, the identification and exploitation of intellectual property, and the importance of business insurance and digital marketing strategies. The report uses Amazon as a case study to illustrate these concepts.

Running head: DEVELOPMENT OF BUSINESS ENTERPRISE
Development of business enterprise
Name of the student
Name of the university
Author Note:

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DEVELOPMENT OF BUSINESS ENTERPRISE
Lecture 1:
 Gain an understanding of how a business develops and implements an Enterprise
ecosystem
Digitalization in the modern days has been changing the picture of the global business
and the industry. The increase in the digitalization has been blurring the present boundaries of
the business organizations. Both the creation of value as well as its destruction from
digitalization has been rapidly changing the business ecosystem. A proper and good
collaboration among the management and the employees is essential for the proper development
of the business enterprise. The executives of the business have a major role on the development
of the different kind of the initiatives. The enterprise is developed by a business organization by
means of connecting four streams of the IT standard with the focus on how the IT team creates
value for the business and how the business benefits from such actions.
 Understanding of the practical value of the Business model canvas
The Business Model Canvas is a graphic representation of the different kinds of the
variables that analyze and highlights the values of a business organization. The Business Model
Canvas is important to a business organization as because the value proposition provides the
management of the organization with a unique combination of the different kinds of the products
and services which is capable of providing value to the customer by resulting in the solution of a
problem that the customer has been facing or providing value to the customers. The
implementation of the business model canvas leads to the innovation and newness in the
business.

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 Understanding how the business model canvas informs the business planning
process
Business Model Canvas plays an important role in the business organization as because it
is able to address some of the main issues of the business and also helps the business to perform
smoothly by performing a number of important tasks. This includes the selection of the customer
segments, value proposition, creation of business channels, creation of a proper and effective
business relationship and also helps in the creation and increase of business revenue. The proper
and effective business model canvas innovation thus leads to the improvement of the focus of the
company and change the flexibility and transparency of the business organization.
Lecture 2:
 Importance of customer segmentation
Segmentation is one of the most important marketing segments. It helps the management
of the organization to market their products in a much better and effective manner. The
segmentation of a business helps the business organizations by means of increasing the
efficiency of the business organization in the market and allowing the management to easily
trace out the different kind of the business opportunities. Apart from this the company is also
able to select a better strategy to promote the brand and also retain loyal customers of the
business.
 Identification of different customer segmentation
Different kinds of customer segmentation include the likes of;
 Geographic- The geographic segmentation involves the practice of targeting the target
audience from different kinds of locations selected by the management of the business

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organization. The geographic segmentation is useful both for large business organizations
as well as small business organizations. Geographic segmentation is useful for both the
large and small business organizations.
 Demographic- The demographic segmentation is also an important form of the business
as because it divides the target market according to income, age, religion and many more
such different factors.
 Psychographic- Physiographic segmentation is much less concrete in nature and the
characteristics are less tangible than the other two. This depends on the idea of what kind
of customers is being targeted and their mental set up about a particular product.
 The needs of the customer
The different needs of the customer includes the likes of the;
 Functionality- The customers need the different kinds of the product or the service to
function the way the organization needs in order to solve the problems or desire.
 Convenience- The products and services manufactured by the business organization must
be provided in a convenient manner in order to ensure success of the business
organization.
 Price- Price is another main need of the customer. Each and every customer wants to buy
products that provide both quality and low price.
 Design- The product design is also considered to be an important need of the customer.
The management of the business organizations must make sure to provide an attractive
and sleek design to the products in order to ensure success.

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 Identify ways to overcome customer problems
The different kind of ways to deal with customer problem includes the likes of;
a. Listening carefully to the customers is one of the main ways to remove the problems
of the customers. The management of a company must not get angry. The executives
of the company must act in a smart and calm way to ensure that the customers are not
angry.
b. The executives of the business organization who will be interacting with the
customers must act in a concerned manner and listen to the problems of the people
with care so that the organization in order to solve the problems from the base.
c. The executives of the company must apologize to the customers at the beginning only
taking the total claim of the problems. This type of behavior will ensure a peace of
mind for the consumers and will enable easy solving of the problem
Lecture 3:
 Distinguish between the different types of business boards
There are different types of business boards that depends on a number of different
elements. This includes the likes of;
a. Sole Proprietorship: Sole Proprietorship Company, as the name suggests is the
company having just a single person in the board. The company is totally managed by
the person and is generally small in size with much less investment. The following
structure does not differentiate in between the individual and the business legally. All
the different assets and liabilities of the business exist under the name of the
proprietor.

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b. Business Corporation: A business corporation is a legally separate entity and exists
separately from that of the business owner. It is responsible for the business debts and
liabilities. The main subject of the business requires a formal structure that consists of
the different kinds of the shareholders, directors as well as the officers.
c. Limited Liability Company: The following kind of business structure is basically a
mix of both sole proprietorship and Business Corporation. The personal liability is
however limited in this kinds of business organizations.
 Understand the differences of each of the boards
 Sole Proprietorship: The Company is totally managed by the person and is generally
small in size with much less investment.
 Business Corporation: A business corporation is a legally separate entity and exists
separately from that of the business owner.
 Limited Liability Company: The following kind of business structure is basically a
mix of both sole proprietorship and Business Corporation.
 Understand the difference business structures there are
 Sole Proprietorship: The Company is totally managed by the person and is generally
small in size with much less investment. The following structure does not
differentiate in between the individual and the business legally.
 Business Corporation: The main subject of the business requires a formal structure
that consists of the different kinds of the shareholders, directors as well as the
officers.
 Limited Liability Company: The business structure and the board of the company
are much larger in nature.

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 Understand how each legal structure works and how it impacts the business
a. Sole Proprietorship- Income and the loss are both taxed on the personal income tax return
of the individual customer.
b. Business Corporation: Legal compliments are all based upon the name of the business
organization.
c. Limited Liability Company: The limited liability companies are hybrid entities that
generally combine the characteristics of both sole proprietorship and business
corporations. The owners are not personally liable for the debts and liabilities of the
business organizations.
Lecture 4:
 Understand what is IP and how to identify it in your business strategy
Intellectual Property refers to different kinds of patents, copyright and different
trademarks that help the people to earn the required recognition or financial benefits from what
they invent or create on their own.
Amazon Company is totally dedicated to providing the customers with a large range of
different kinds of product along with a great customer experience. Amazon ensures that each of
the different products and services of the organization have copyright and also have trademarks.
 Understand how exploit IP and make it work for the business
It is important for the business to implement the online intellectual property health check
up. Such a strategy can help the organization to identify and protect the intellectual property as
well as advice on whether the management can make it work through the means of licensing,
franchising or selling. Amazon company attains the licensing services from the different global

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as well as local manufacturers in order to exploit their Intellectual property Rights in the most
effective manner. The presence of the licensing services helps the organization to ensure the
services of the business in the most suitable and appropriate manner.
 Identify the different kinds of business insurances there are how to apply them to a
business context
The different kinds of business insurance include the likes of;
a. Professional Liability insurance
b. Worker’s Compensation Insurance
c. Product Liability Insurance
d. Vehicle Insurance
e. Home Based Business Insurance
f. Business interruption Insurance
It is very much important to remember that the business of Amazon is quite different
from the other businesses. Insurance policies for the business organization thus need to be a bit
different from that of the normal business enterprises. The management of the company
generally opts for the Liability Insurance as because such an inclusion helps in the coverage of
the he manufacturer or seller liability in the event that one of their products was to cause bodily
injury or property damage to a third party due to a defect or malfunction of the product.
 Understand the legal requirements of business insurance and its consequences of not
having it
A business which has considerable number of staffs at their helm must have a proper
business insurance to fulfill the legal liabilities of the business organization. The employers
liability is to provide insurance to the operations of the business in order to provide legal safety

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of the business organizations. The legal requirements are also needed to sign contracts of the
insurance and also ensure client satisfaction.
Lecture 5:
 Understand the nature of marketing and what part it plays in a business strategy
The main research strategy that was introduced by the management of Amazon was the start of
the online sales. The growth of the internet and the change in different kinds of technology was
behind the online sales strategy of Amazon Company.
 Understand role of digital marketing
The world of digital marketing is quite confusing. Digital marketing can be said to as the
marketing effort that involves the internet or an electronic device. The presence of online
marketing can be termed as anything related to digital marketing. The rise in digital marketing in
the age of availability of less timing for the customers has provided a large role for the digital
marketing.
 Examine the role of networking and its effects in business
Networking is a socio-economic business activity through which the people engaged in
the business generally meet with each other to form a healthy business relationship and also to
recognize, create and act upon the different business opportunities. The presence of an effective
and proper business networking activity helps the business organization to build healthy
relationships and create new avenues for the business organization.
 Exploring nontraditional route to market
Apart from the use of the traditional marketing routes, the management of the business
organizations has been using the non-traditional routes of marketing in order to ensure the

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success of the business. Some of the non-traditional approaches to marketing that can be a part of
the Amazon group will include the likes of;
a. Awards Campaign
b. Customer Bonus schemes
c. Providing special discounts
d. Providing the customers with new and innovative products
Lecture 6:
 Understand the role of terms and conditions within a business context
Terms and conditions form an important part of any kind of business organizations. The
presence of terms and conditions in the business helps to ensure the details of the business, get an
idea of the goods or services offered and also ensure the method of payment and warranties for
the product.
 Understanding the importance of contracts
Contracts are important as because contracts helps both the business organization as well
as the other party to get an idea of the different time schedule that will be involved in a business
organization. The availability of the time schedule and the presence of an extensive contract can
help in the development of the business.
 Examine the advantages of different types of contracts
Different kinds of the contracts are important for different reasons. Some of the main
advantages of the different contracts are as follows;
a. Reduces risk
b. Increases clarity
c. Maintains a time and proper schedule

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d. Ensures mental satisfaction and security for different parties involved in the business
contract
Lecture 7:
 Understanding different pricing structures and models
Different kinds of the pricing structures include the likes of the;
a. Customary Pricing
b. Market Price structure
c. Premium Pricing model
d. Price Points
Each of the above mentioned pricing models are structured in a different manner and are
used according to the necessity of the company.
 Understanding competitive pricing
Competitive pricing in business can be referred to as the process of selection of the
strategic price points. This helps to take the advantage of a product or service that is based on the
market relative to the competition of the business organization. The competitive pricing strategy
is followed by the management of Amazon in order to compete with other similar companies
involved in online business.
 Identifying market value and how to use it
Market Value is generally defined as an asset that is generally fixed by the management
of the company based on the recent trends. The management of Amazon Company decides on
the market value of the products by thoroughly analyzing the value of the product and the price
offered by the other companies for the same product or any substitute products.

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 Examining different funding streams and which ones work for your business
Some of the major funding streams that works in the most proper and effective manner
are as follows;
a. Boost-rapping- The use of the own financial resources from a savings account or any
other savings is called boost-rapping.
b. Crowd funding- Crowd-funding allows the management of the company to attract a wide
pool of interested investors to invest in the business.
c. Angel Investors- The management of the companies approaches new and interested
investors at the time when the company is able to make healthy revenue in the market.
These investors are referred to as the angel investors.
 Identifying where to access business start-up funding
The business must look for the potential investors through the application of the angel-
investors in order to ensure maximum business success.
Lecture 8:
 Understand the principals of Cash flow forecasting and the vital role it plays in a
financial strategy
Cash flow forecasting is helpful for the business organizations as because it helps the
organization to predicts the highest and lowest levels in the cash balance. The management of
any kind of business organization needs a proper and effective forecast before the consideration
of a loan.