BUS3ENT Individual Business Model Plan
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Course Code: BUS3ENT
Course Name: Individual Business Model Plan
- Introduction
A clear introduction of your NEW business idea, make sure that first time readers can understand your business idea. Please also don’t reuse the business idea which has already been presented in the group assessment.
- Business Model Canvas (please make the full use of the Business Model Canvas template. Additional information/clarification can be added if necessary, but please be aware of the word limit and balance with other parts of the report)
- Customer Segments
- Value Proposition
- Customer Relationships
- Channels
- Key Activities
- Key Resources
- Key Partners
- Revenue Structure
- Cost Structure
- Market
(where possible, please support this session with relevant research, facts and figures)
The following (but not limited to) major questions are to be addressed:
3.1. What is the size of the market? Is the market at full capacity?
3.2. What is the growth rate of the industry? How competitive is the industry? What keeps new competition from entering this market (barriers to entry)?
3.3. Is there any trend that is affecting positively or negatively firms in the industry?
3.4. How can the market be segmented?
3.5. Who and Where are the targeted customers?
3.6. Where are customers getting the product now? Who are the major competitors in the market and how strong are they?
3.7. Where is the location of the business? How many customers would potentially purchase from you?
- Operations and Technology
(where possible, please support this session with relevant research, facts and figures)
The following (but not limited to) major questions are to be addressed:
4.1. What are the options for developing the technology (customer, off the shelf, design by yourself, or subcontract)?
4.2. What technological changes are changing or emerging that may affect the business?
4.3. What are the options for producing the product or service? (in-house, subcontract, license, joint venture or partnership, or a combination of those options).
4.4. What are the options for sales and distribution? (in-house, whole sale, distributors or sales representatives, license, joint venture or partnership, or combination)
4.5. What resources are required for development and are they available to you (skills, raw materials, components, suppliers, facilities & equipment etc)?
4.6. What are the laws and regulation relating to the business? (e.g. industry standards or regulations, personal certifications, intellectual property (patents, trademarks, copyrights), environmental liability, etc)
4.7. Has the research discovered any moral or ethical issues that you might have to address? (Please also refer to the marking rubric in subject learning guide for more information about this criteria)
- Human Resources
(where possible, please support this session with relevant research, facts and figures)
The following (but not limited to) major questions are to be addressed:
5.1. What technical and management experience is required?
5.2. Who are the owners and what are their roles? (Entrepreneur, Manager, Technical Expert etc)
5.3. What is the ownership structure?
5.4. What are the manpower requirements?
- How many employees will you need in the 1st, 2nd and 3rd years?
- How will you find the right employees?
- How will you compensate employees (pay for time, for production, for knowledge, or combination)?
- How will you motivate employees?
- What training will they need on an ongoing basis?
5.5. What is the company’s growth strategy?
- How will quality be managed and maintained?
- How will organizational structures change with growth?
- What career paths will employees have available?
- Finance
(where possible, please support this session with relevant research, facts and figures)
The following (but not limited to) major questions are to be addressed:
6.1. What are the projected Revenues from the sale of your product or service?
- From the market research, what is the selling price per unit?
- From the market research, what is the projected sales volume in “units sold?” and in “dollars sold”?
- What is the total expected revenue?
6.2. How much is the start-up costs and equipment/capital costs (see attached Appendix 1 for the template)?
6.3. Prepare the projected Profit and Loss statements for the first 3 years (see attached Appendix 2 for the template).
6.4. What are the possible sources of financing?
- Where is the money from?
- What are the chances of getting the money?
- What will you have to give up?
References
12-15 references required, at least 03 academic references needed; Harvard referencing style.
BUS3ENT Individual Business Model Plan
Business model and business plan differs in terms. The formers term refers to the mechanism through which company intends to generate profit whereas the latter term deals with documents that states business strategy using different context and expected financial performance in the upcoming years. The business model canvas is considered as the fundamental key to business plan. When the individual business model plan is broken down into segments it takes direction in two ways. The first goes with how the company stands within its industry value chain, organizing the relation with partners, clients and suppliers to generate profit. While the second one goes with translating the business positioning with sequence of strategic actions and quantifying its financial effects. The subject enables to fully use disciplinary knowledge and individual skills to generate initial business ideas keeping in mind the business model canvas and other associated challenges.
The assessments are mostly in the form of report writing using theoretical subject concepts and practical approach to structure these ideas in a sustainable manner. It takes multidisciplinary perspectives to research and analyze for problem solving aspects. Using business validation tools can generate sustainable value by the means of particular service or product to encounter market opportunity.
The assignment on course BUS3ENT Individual Business Model is based on developing student’s capability to prepare business model plan keeping in mind social, technological, financial and other related context. It intends students to think of the ways their ideas and plan can be set for the business venture in future. The aspects it covers are the basic business idea, business model canvas (customer relationship, customer segments, channels, value propositions, and revenue and cost structure), planning of the model plan, targeted market, technological advancements, business operation, platform of human resource and sources of finance. The report writing requires incorporating sub-elements under each heading. Students might find it easy to answer overall, but making sure to integrate each factor remains troublesome for them. Many also stuck with generating an effective business plan due to unfamiliarity with changing business patterns and trends. For this reason they search for experts who are well-versed with subject understanding, current trends in business developments and factors that can effect in long run. Don’t worry as myassignmenthelp is ready to cater your intricate business plan Online Tutoring request. The business experts provide effective solutions which reflect originality, creativity and top-notch quality. Being in this industry for decades, we have successfully managed to help students score their desired grades through Online Tutoring from our platform.
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