MGMT20143 Assignment 2: Motiv Ring Business Model Analysis

Desklib provides solved assignments and past papers to help students succeed.

MGMT20143 Assignment 2 Think Big
<<Insert Your Full Name Here>>
<<Insert Your student number here>>
Submission date: <<Insert assignment submission date here>>
Word count: <<Insert your word count here>>
Campus (tick one): MEL  SYD  BNE  DST  Other (write): ____________
1

Executive Summary
The number of start-ups and the new businesses is increasing day by day in the market and
standing in the market. There should be something unique in the business. That uniqueness can
be created by thinking big. The motive ring which can help the referees to track all the data and
information about the match is the new innovation which has a uniqueness in the market. The
cyber security network will be provided by the ring to the users.
2

Table of Contents
Executive Summary.....................................................................................................................................2
Introduction.................................................................................................................................................4
Issues Identified in the Existing BM/ Innovation Needs..............................................................................4
Benefits to Customers/Clients from New Idea.............................................................................................4
New/Proposed Business Model...................................................................................................................5
Key Interrelationships in the Proposed Model.............................................................................................6
Key Success factors of the Proposal............................................................................................................7
Critical Risks for New Business Model.......................................................................................................7
Overall Feasibility of data...........................................................................................................................7
Conclusion...................................................................................................................................................9
References.................................................................................................................................................10
3

Introduction
The business model canvas will be prepared on the Motiv Ring in which the various blocks of
the model which are currently going in the company will be discussed. Now in the following
report, the improvements that can be made in the business model canvas of Motiv Ring will be
discussed considering all the points which were discussed in the previous report, but this time,
there will be something new added to the model. It will cover the issues that are found in the
previous business model canvas and the benefits that can be added to the customers and the
clients by the help of new schemes and strategies.
Issues Identified in the Existing BM/ Innovation Needs
From the previous business model canvas of Motiv Ring and the first screen, there are some
issues found in the Motiv Ring and some improvement needed to be implemented in the Motiv
Ring firm. As the Motiv Ring is not in the market for a long time, there is a lack of experience in
the real field (Smallbone, 2016). While going through the reviews and feedbacks from the
referees who are using Motiv Ring. It is one of the channels mentioned in business model
canvas, that is, the Google Play store, it is found that the Mobile application is currently
compatible with the Tizen Operating system which is used in the Samsung wear. The other issue
is that the methods used by the Ring are all online and they all are connected with the internet,
but they should also prefer some offline methods for the Ring to reach more people. The value
proportion mentioned in the model is just about the Ring; it should also cover the customers and
users of the Ring. The key partners should be increased more to increase the market of the Motiv
Ring as there are only two key partners mentioned in the business model canvas. The key
resources will also include devices like smartphones, etc. because without them the Motiv Ring
is not usable. The Mobile application developers should invent the new Motiv Ring for the
referees of other sports and should not limit their start-up to the soccer referees.
Benefits to Customers/Clients from New Idea
All the issues and the new things which are mentioned or suggested above can give the best
rating to the Motiv Ring on every platform. Following are the benefits if the actions are taken on
4

the issues and suggestion found out by the previous business model canvas of the Motiv Ring
for customer engagement (Harmeling et al., 2017):
 If the Motiv Ring starts the compatibility with the Samsung wear devices which uses the
Tizen operating system, then it will help the more customers and the referees because
now they can use the Motiv Ring in their Samsung devices. It will also increase the
number of customers and clients for the Motiv Ring in the market.
 The use offline method of advertisement along with the online platform will help the
Motiv Ring to reach very large numbers of customers which can help the customers to
know that this type of Motiv Ring also exists. The founder team can use tech magazines
and the other newspaper advertisement to expand the market.
 If the value proportion covers the views and feedbacks of the users, then it can help the
developers to improve the user experience on their Motiv Ring.
 The key partners should be increased by doing a partnership with the smartphone
manufactures so that they start giving Motiv Ring as an inbuilt Motiv Ring in the
smartphones and smartwatches.
 If the developers create another Motiv Ring similar to the same motive and goals for the
other sports like basketball where the referees have to perform the various task, then it
will help in expanding the business to the new sports. The customers can take advantage
of this type of Motiv Ring in every sport. It will also help the other referees to do their
job smartly without the use of paper or notebook.
New/Proposed Business Model
Key Partners
 Smartpho
ne
manufact
ures
 Operating
Key Activities
 Creates a
cyber
security
network
for mobile
Value
Proportion
 Record
s the
movem
ents
Customer
Relationships
 Impleme
nt
changes
and
Customer
Segments
 Businessm
an
 Service
man
5

system
developer
s
 Coaches
and
trainers
phones
and
personal
gadgets
 Provide
s cyber
security
improve
ment on
the basis
of
feedback
 Direct
emails to
the team
 Politicians
Key resources
 Smart
watches
 Smartpho
nes
 Internet
Channels
 Social
media
 Print
media
Cost Structures
 Advertisement cost
 Motiv Ring developing cost
 Motiv Ring publishing cost
 Internet
Revenue Stream
 Premium subscription or
membership
 Advertisement for other Motiv Ring
Key Interrelationships in the Proposed Model
The building blocks of the business model canvas created by Osterwalder & Pigneur are
interlinked with each other and show the complete information about the business of any
company or organisation (Toro-Jarrín et al., 2016). The above business model canvas of the
Mobile application is also having interrelation between the points mentioned in the model. The
key partners like smartphone manufacture produce the key resources like smartphones and
smartwatches which are required by the Motiv Ring as a platform to perform the key activities
mentioned in the model. The value proportion like working on the feedback of customers is
linked with the customer relationship which helps in expanding the business to the long term.
The channels are also connected with key partners like websites and other Mobile applications.
The cost structure and the revenue stream are also interlinked as the cost structure shows the
6

outflow of cost and the revenue shows the inflow of cash in Mobile application (Sort & Nielsen,
2018). The process of taking feedback and implementing the suggestion sand the improvements
in the Motiv Ring is making it one of the most popular Motiv Ring for the referees. Because of
the feedback, the Motiv Ring developers come to know about the bugs in the Motiv Ring, and
then they try to remove those bugs. This action of the Motiv Ring developers helps in creating a
better relationship with the customers which also a necessary part in the success of any business
(Sorescu & Sorescu, 2016).
Key Success factors of the Proposal
The Motiv Ring is the first of its kind of the ring which is going to always on the top of the list
(Santisteban & Mauricio, 2017). The Motiv Ring will help to the business man who has a major
need of cyber security to get threat free online transactions.
The founder of Motiv Ring is also an expert in this field along with the team members who have
equal participation in the success of the Motiv Ring. The compatibility of the Mobile application
with the Android wear and the iOS wear makes an advantage for the Motiv Ring as most of the
users. The performance of the Motiv Ring is continuously improving from the last years and with
every update.
Critical Risks for New Business Model
The critical risk factors are the one who can oppose the success of a business and for Motiv
Ring. It is essential to analyse the critical risk factors. It size restricts the capabilities of the
devise to perform a longer time (Caren & Paul, 2018). Navigation, movement track and cyber
security are the major features of the Motiv Ring which ensures the users to work freely
anywhere by using this (Hyytinen et al., 2015).
Overall Feasibility of data
Score(-5 to +5) The overall potential of the
Business Idea Based on Each
Part
Suggestions for improving
the Potential
7

Part 1
Strength of business idea High
Expand the business to other
areas
Part 2
Industry related issue Moderate
Make the Motiv Ring more
unique by providing better
services and results
Part 3
Target market and customer
related issue
High
Create a more user-friendly
devise and analyse the
feedbacks
Part 4
Founder-related issue Moderate
Add some experienced
members to the team
Part 5
Financial issues
Moderate Manage the financial record
timely and analyse the whole
flow of cost.
Overall Feasibility The feasibility of the Mobile
application Mobile
application is moderate.
8

Conclusion
To remain in the business, the start-up companies need to focus on improvements based on the
customer feedbacks, and they also should try to do new innovations in their business by thinking
big about the business future. The above report discussed the issues and the new innovations that
can be done in Motiv Ring and also covered the critical success and risk factors for the Motiv
Ring in the market. It was also analysed how the customers and clients will get benefited from
the new changes done in the business model canvas of the Motiv Ring.
9

References
 Caren Scheepers, & Paul Whelpton. (2018). Stakeholders' different perspectives on
critical success and risk factors in a case of large-scale system implementation across
Africa. South African Journal of Business Management, 49(1), E1-E13
 Harmeling, C., Moffett, M., Arnold, J., & Carlson, W. (2017). Toward a theory
of customer engagement marketing. Journal of the Academy of Marketing Science, 45(3),
312-335
 Hyytinen, Pajarinen, & Rouvinen. (2015). Does innovativeness reduce startup survival
rates? Journal of Business Venturing, 30(4), 564-581.
 Santisteban, J., & Mauricio, D. (2017). Systematic literature review of critical success
factors of Information Technology startups. Academy of Entrepreneurship Journal, 23(2),
1-23.
 Smallbone, D. (2016). Entrepreneurship policy: Issues and challenges. Small Enterprise
Research, 23(3), 201-218.
 Sorescu, Alina, & Sorescu, Sorin M. (2016). Customer Satisfaction and Long-Term Stock
Returns. Journal of Marketing, 80(5), 110-115.
 Sort, J., & Nielsen, C. (2018). Using the business model canvas to improve investment
processes. Journal of Research in Marketing and Entrepreneurship, 20(1), 10-33
 Toro-Jarrín, Ponce-Jaramillo, & Güemes-Castorena. (2016). Methodology for the of
building process integration of Business Model Canvas and Technological
Roadmap. Technological Forecasting & Social Change, 110, 213-225.
10