Business Concept Report: Organo Essentials Oil Analysis

This report analyzes the business concept of Organo Essentials Oil, a UK-based essential oil company. It begins with an introduction and a canvas model outlining key elements such as key partners, value propositions, customer segments, and cost structure. Section 2 discusses the original business concept, incorporating feedback from colleagues to refine the strategy. The feedback focused on improving key partners, key activities (marketing and sales), value propositions (packaging), customer relationships, customer segments, channels, cost structure, and revenue streams. Section 3 details the second iteration of the business concept, incorporating modifications based on the feedback received. The changes include manufacturing raw materials, improved marketing through digital channels, enhanced packaging, expanded customer segments, and a revised retail supply strategy. The report concludes with a summary of the findings and recommendations for the business.

Enterprise Creating
your own business
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Table of Contents
INTRODUCTION...........................................................................................................................3
SECTION 1......................................................................................................................................3
Canvas model..............................................................................................................................3
SECTION 2......................................................................................................................................4
Discussion of the original business concept................................................................................4
SECTION 3......................................................................................................................................7
Second Iteration of business concept .........................................................................................7
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
It is important to analyse as well as evaluate different factors while creating and develop
a business. This will help in conducting business task in effective and efficient manner (Weill
and Woerner, 2013). Chosen company for this report is Organo essentials oil. This is located in
UK market area as well as providing its products and services to different parts. This report
includes canvas business model to develop better strategies. Apart from this feedback has been
analysed in order to modify current concept of business.
SECTION 1
Canvas model
Canvas business model in consider as an effective way of developing various strategies .
This will lead to have impact over performance of business as well as accomplishment of desired
goals. This model includes various elements which will support in better decision making.
Business canvas model is mention below in respect to Organo essentials oil company.
Key partners
 Raw
material
supplies
 Herbs and
plant
distributes
 Transporta
tion
partners
Key activities
 Collection
of herbs
and other
resources
 Developm
ent of
essential
oil
 Marketing
and sales
of product
Value
proposition
 High
quality
tested
products
 Effective
packaging
 Easy to
use
 Personaliz
ed
products
to meet
customer
Customer
Relationship
 Direct
communic
ation with
customers
 Post sales
services
 Loyalty
towards
customers
Customer
segments
 Health
conscious
customers
 customers
who
Prefer
organic
products
 Men and
women of
age above
20.
Key Resources
 Human
resources
Channels
 Online
sales of
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 Raw
material
 Infrastruct
ure
 Innovative
technolog
y
requireme
nts
products
 Direct
supply to
customer
 Retail
supply
channels
Cost structure
 Raw material cost
 Manufacturing cost
 Fixed and variable cost of business
Revenues streams
 Sales of products
 Collection of funds
 Subscription charges
SECTION 2
Discussion of the original business concept.
In order to identify and analyse the original concept of business I have consult with my
co worker. I have trust on them that they will give me right feedback as well as help me in
enchaining business activities in effective and efficient manner. Feedback taken from co worker
and friends will lead to developing as well as modifying original business. I have analysed that
determining the original business concept will help in perform task and activities in effective
manner. I have received feedback from my co worker that will be very helpful in enhancing
performance of business. Once I have developed and created the concept of essential oil
business, I have represented this idea and concept with my co worker. They have given my
different ideas that are very effective in creating and developing a successful business (Das,
2016). Feedback given by colleges and co worker has supported me in re think about the concept
of my business. They have given me honest and feedback so that is can successful run business
and achieve desired goals and objectives. I have given presentation to some of my co worker and
manager in order to explain the concept of essential oil business. Through this process I was able
to identify and analyse advantages as well as disadvantages of the business concept. This was
very helpful in future successful running of business.
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The major feedback was related to the improvement in the major elements of the business
as this will aid in conducting task in effective manner. In original business idea in have
segregated the concept of this business into several parts. For this I have analyse business canvas
model which consider of different elements such as customer segments, value proposition,
revenue streams, channels, customer relationship, key activities, major resources, key partners
and cost structure. This model has been very helpful in classifying several major activities of
business into different parts. I have explained the concept of Organo essentials oil company in
the form of business canvas model. Through this I was able to explain each and very aspect of
business in better and effective manner. I have analysed various factors from the feedback in
order to improve the original business concept. While concerning with my manager and co
worker I was able to take better decision for growth and development of organisation. I have
determined that by considering the feedback of co- worker I will be able to accomplish desired
goals.
Through this process of feedback I was able to analysed needs and want of essential oil
product in respective market area. There are some major companies that is performing business
activities in respective market area as well as offering smiler type of products and services. I
needs to modify products and services that is different from services offered by rival companies.
For this, it is essential to identify unique selling points of Organo essentials oil company and its
products. This will help in promotion and marketing of products and services in better and
effective manner. From the feedback given by one of my co worker I have identify that it is
essential to develop a product that is more durable. Longevity of product offered by Organo
essentials oil company will be able to meet with the needs and wants of customers. By this
feedback I was able to analysed I was able analyse different ways through which I am able to
attract more and more customers towards business. I have analysed and evaluated different
factors from the feedback that will help in enhancing performance of Organo essentials oil
business. Different factors or elements that needs to be modified while performing business
activities which lead to successful running of business are mention below in detail. Key Partners – There are various key partners of respective company that are helpful in
performing business activities in effective manner (Wetherly, 2014). Raw material
suppliers are one of the key partners of Organo essentials oil business. As per the
feedback of my co worker I have identified that this company needs to use own raw
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material for development and manufacturing essential oil products. There are different
ways thought which this company can create and develop its own raw material and this
will help in developing high quality products for customers. Key activities - Marketing and Sales of product describe the efficiency of products and
services which is useful to achieve growth and success for company. Currently company
deals in essential oil so in early times company only use offline or manual marketing
which is useful to acquire customers (Whittle and Myrick, 2016). But currently, the
marketers of company want to increase its sales and also want to earn more profitability
for their product. For this, company use internet marketing and word of mouth an for
internet marketing. Organo use many social media sites which is useful to attract youth
customers because in modern world, most of the population use social media and it is the
best way for to company to market its products and increase their sales. Value propositions - Effective Packaging describe the effective packaging of product as
it consider under the physical appearance of products which is useful to attract more and
more customers. After conducting research by company, it is determined that most of the
people are more conscious about their skin and for this they use many cosmetics on their
skin which are made up of some sort of chemicals which are quite harmful for their skin.
In return to this, Organo is offering essential oil which is made up of organic products
and does not harm skin of people as it is useful for all skin types. Here, relevancy of the
products of company is suitable and relevant and also beneficial for acquiring more and
more market. But to attract more customers and acquire new market it is important for
company to have effective packaging as it is useful in value proposition for company. Customer relation - It the useful in developing customer relationship and used in
marketing of product. It describe that company should use digital media to interact with
customers as it helps in developing healthy relationship with customers and conveying
them about the features and characteristics of products. In case of Organo, they used
social media to develop relationship with their respective customers and provide basic
knowledge to them regarding their product which helps in attracting them and enhance
new customers to acquire new market place. In modern world, Digital media is used in
number of amount and by many companies to spread awareness about product and in that
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case, Organo provide details about essential oils which are suitable for their customers
and can be applied for all skin types. Customer Segments - In original concept of Organo essentials oil business it is offering
its products and services to men and women who are above age 20. in order to enhance
performance of this company it needs to expand its customer segments as well as develop
products which is suitable for kids and all age group customers. Channels – This company is selling its products and services to through different sources
such as online sales, traditional selling channels as well as retail supply channels. Organo
essentials oil company needs to change retail supply channels as this process will not able
to perform task in effective manner (Eggers and Macmillan, 2013). This company needs
to open its retail outlets as this will be helpful in attracting large number of customers
towards business. This modification will help in improving sales as well as profits of the
company. Cost structure - There are different cost the occur while performing business activities of
Organo essentials oil company. By developing own raw material respective company will
be able to reduce the cost of raw materials of this business.
 Revenue streams – Revenues streams are one of the essential part of business as through
this company will be able to collect funds. This will aid in conducting task in effective
manner. There are various revenues streams that will help in collecting appropriate funds
from this business.
SECTION 3
Second Iteration of business concept
On the basis of basis of feedback received from various colleagues and through online
modes many changes and modifications are made to improve the overall desirability, feasibility
and viability of the new business project of Organo essentials oil. The modifications made
include a plan to start manufacturing and developing raw material required for manufacturing of
products with in the premises and control of the organisation as it reduce the cost of procurement
of resources and lead to cost efficiency thus, makes the new idea more desirable and also
enhance its viability. Beside this it has been finalised that better modes of marketing and sales of
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product will be used that includes higher use of digital channels with the objective of enhancing
viability of the project. Beside this, more effective and attracting means of packing will also lead
by the Organo essentials oil to cater and grab the attention of more customers which lead to
better feasibility of new project through enhancing the amount of profit (Galpin, 2017). To build
better customers relationship and to have effective communication with the consumers use of
various social media platforms and digital and online channels will be made to have a better and
long lasting relationship with customers that improve the viability of the new business project.
The Organo essentials oil has also formularised on the basis of feedback that it should
provide its product not only to Men and women of age above 20 but also includes kids and
children in its target market through making use of more natural ingredients and components that
are suitable for kids also. Retail supply channels is a process of reach the product to the potential
clients of the company. It involve everything from obtaining the raw material to make the
product to delivering that in consumer's hand. In Organo essentials oil, the management of the
company can use and take sup[port of different retail channels to offer its product to its
customers. For example, the company can provide its product both online and offline mode. In
online offering, the firm can use mobile application and company website so that the customer of
respective firm can order their products. In offline retailing it can provide its goods through
producer, whole seller, retailer, stores, catalogues, direct sales and others. Sources of fund
indicates to the process of gathering and raising finance for running the business activities and
operations of the company. There are several sources of funds like funding from personal saving,
debt financing, friend & family, Angel investors, venture capitalists, bank and other financial
institutes. Venture capital- It is a type of financing that is offered by companies or monetary value
to small and emerging enterprises that deemed to have high growth potential or which
have demonstrated high development in term of number of workers, annual revenue or
both. Bank- It is an important source of finance from where a company or business firm can
raise fund to run its business (Sarma, 2017). It is effective source funding because the
interest rate is not much high in comparison to other financial institutions.
 Angle investor- An angle investor is a high net worth individual who offers financial
backing for small start-ups and enterprises, in exchange for ownership equity in the
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company. The finance that angel investors offer may be one time investment to assist the
business and an ongoing injection to support and carry the firm by its difficult early
phase.
From the above sources of fund use of bank is suggested by maximum number of
collogues for having a secure medium and sources of finale for Organo essentials oil which laed
to increase in viability of the new business idea. After making all the changes and modifications
the new business canvas model of Organo essentials oil is mentioned below:
Key partners
 Herbs and
plant
distributes
 Transporta
tion
partners
Key activities
 Collection
of herbs
and other
resources
 Developm
ent of
essential
oil
 Use of
digital
media for
effective
Marketing
and sales
of product
Value
proposition
 High
quality
tested
products
 Attractive
packaging
 Easy to
use and
Personaliz
ed
products
to meet
customer
requireme
nts
Customer
Relationship
 Direct
communic
ation with
customers
 Post sales
services
 Loyalty
towards
customers
 Use of
social
media and
other
digital
platform
Customer
segments
 Health
conscious
customers
who
Prefer
organic
products
 Men and
women
together
with kids
and
children
Key Resources
 Human
resource
 Raw
material
 Infrastruct
Channels
 Online
sales of
products
 Direct
supply to
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ure
 Innovative
technolog
y
customer
 online
offerings
through
official
website
and
mobile
app.
Cost structure
 Manufacturing cost
 Fixed and variable cost of business
Revenues streams
 Sales of products
 Bank loan
 Subscription charges
CONCLUSION
From the above report it has been analysed that business canvas is an effective model that
will help in taking better decision for organisation. It is very important to analyse as well as
evaluate different concept of business in order to take better decision of organisation.
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REFERENCES
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