SECTION 1: Description of the Task:

Using the business model canvas, you are required to articulate your entrepreneurial thinking drawing on theoretical bases that comprise the Environmental Interaction (EI) Framework. First, with direct reference to your new value creation idea, explain how your individual/collective resource profile has shaped your ideas development. Second, with direct reference to the process of variation, selection & retention, and all forms of legitimacy, explain the importance of these factors on the development of your idea. Third, with direct reference to the three forms of value creation logic (value chain, value shop & value networks), explain what value you believe can be created and captured. Fourth, with direct reference to your idea’ ecological and selective environments, explain which factors most shaped the development of your idea. Finally, present your CPS (customer, problem & solution) statement, providing a closing summary that provides a theoretical argument to support your proposed solution, attaching your business model canvas to highlight your consideration of all other EI framework elements (note: the business model canvas is not included in your word count). You are free to include other theoretical concepts to develop your explanations, although, ensure the inclusion of other ideas is not at the expense of the specific elements (noted below) you are directly assessed on.

The elements of the EI Framework that need to be covered

1. Resource profiles
2. Cognitive & socio-political legitimacy
3. Variation, selection & retention (VSR)
4. Value chain, value shop and value networks
5. Operational environment, including ecological and selective environments

SECTION 2: Description of the Task:

You are required to use the Steps Model (see the online tutorial to address the primary question you have been given to reflect upon. Ensure you follow the process as explained in the video (Using The Steps Model) to achieve both depth and clarity across all 7 supporting questions.