Here you can read our free detailed guide on the BUS 400 4-1 assignment: business model canvas and see its solution.
Instructions of BUS 400 4-1 assignment
Overview
The elevator pitch was a success! Senior management believes they made the right choice in giving you the title of CIO and putting you in charge of seizing new opportunities in the marketplace.
Scenario
While the pitch conveyed your good idea, it was just that: an idea. You now have to test the feasibility of your idea. However, before you create a complete business model canvas (BMC), you want to quickly identify key elements needed to take your product or service idea to market.
In doing so, you will assume that all components of the BMC are at the fingertips of your project team. For example, you will have to work with the marketing and sales departments, and perhaps outside vendors and suppliers, to promote, advertise, and sell the product or service.
The Business Model Canvas Template you complete in this assignment will serve as the groundwork for the more detailed PowerPoint slide deck you will create in Milestone Two. As with any well-executed project, a former project manager experienced in such product-to-market initiatives has agreed to assess your complete BMC slide deck, which you will submit in Module Five.
Prompt
For this assignment, consider the company you have selected and the work you have completed so far to further your business idea. Then, complete the Business Model Canvas Template linked in the Guidelines for Submission section with your assumptions about the key activities for your business idea, product, or service. Specifically, you must address the following rubric criteria:
Value proposition: Complete the value proposition building block by describing the value of your business idea, such as the customer need you are satisfying or the problem you are solving.
Front-stage considerations: Outline the segments related to your potential customers, which include the Customer Segments, Channels, and Customer Relationship building blocks.
Back-stage considerations: Make initial assumptions about how your business will work. This includes completing the Key Activities, Key Resources, and Key Partnership building blocks.
Financial considerations: Make reasonable assumptions about the segments that will inform your profit projections. These include the Cost Structure and Revenue Stream building blocks.
What to Submit
Complete and submit the Business Model Canvas Template PPT. Any sources cited should use APA formatting.
Step-By-Step Guide on BUS 400 4-1 assignment: business model canvas
Introduction to 4-1 assignment: business model canvas
This Owlisdom How-To Guide is designed to assist you in crafting a Business Model Canvas (BMC) for the company you have chosen, focusing on translating a promising business idea into a viable market opportunity. It outlines a structured approach to detailing each component of the BMC, which will underpin a more comprehensive presentation later in the course. By the end of the bus 400 module 4 business model canvas, you will have developed a clear, concise plan that articulates the potential of your business idea.
You will be provided with a Business Model Template to solve the bus 400 4-1 assignment. I am using the SNHU template as an example for a dummy solution.
Note: As mentioned in previous modules, I have chosen Tesla, Inc. for this course project.
Value proposition: Complete the Value Proposition building block by describing the value of your business idea, such as the customer need you are satisfying or the problem you are solving.
Value Proposition
To start the BUS 400 4-1 assignment: business model canvas, we will identify and articulate the unique value our business idea offers to customers.
- Define the Customer Problem: Specify the particular issue or need that your company is addressing.
- Describe the Solution: Explain how your product or service solves this problem or meets this need.
- Highlight Unique Features: Discuss what makes your solution stand out from existing alternatives.
Front-stage considerations: Outline the segments related to your potential customers, which include the Customer Segments, Channels, and Customer Relationship building blocks
Front-Stage Considerations
Next, in BUS 400 4-1 assignment: business model canvas. We will outline how our chosen company will interact with its customers through various channels.
- Customer Segments: Identify the specific groups of people or organisations your company aims to serve.
- Channels: Describe the methods your company will use to reach its customer segments and deliver its value proposition.
- Customer Relationships: Define the type of relationships your company intends to establish with each customer segment (e.g., personal, automated, self-service).
Back-stage considerations: Make initial assumptions about how your business will work. This includes completing the Key Activities, Key Resources, and Key Partnership building blocks.
Back-stage Considerations
In this section of the BUS 400 4-1 assignment: business model canvas, we will define the internal operations and partnerships that support the delivery of the value proposition.
- Key Activities: List the essential activities that need to be performed to execute your company’s business model effectively.
- Key Resources: Identify the resources that are crucial to your company’s operations, including physical, intellectual, human, and financial resources.
- Key Partnerships: Specify external organisations or stakeholders that your company will collaborate with (e.g., suppliers, collaborators).
Financial considerations: Make reasonable assumptions about the segments that will inform your profit projections. These include the Cost Structure and Revenue Streams building blocks.
Financial Considerations
In this segment of BUS 400 4-1 assignment: business model canvas, we will establish the financial basis that will support our company’s business operations and revenue generation.
- Cost Structure: Detail the significant costs involved in operating the business.
- Revenue Streams: Describe the sources of revenue for your company, focusing on how the company will charge for its products or services.
Closing
In completing the Business Model Canvas for your chosen company, you will have laid a foundational strategy for bringing a business idea to fruition. The BUS 400 4-1 assignment: business model canvas encourages a thorough analysis of various business elements—from customer interaction to financial sustainability. The critical takeaway is to develop a holistic view of the business operation, ensuring every component aligns with the overarching value proposition and market goals. This How-To Guide serves as a roadmap for effectively communicating and refining these ideas in your upcoming presentations. In the next module of BUS-400, we will explore the 4-2 Harvard Business Review Simulation and Journal.
