Business Model Development - Assessment Answer

Business Model Development - Critical Risks - Leadership - Ethical and Professional Responsibility

Task:

The objective of this individual assessment submission is to learn how to develop your own business idea, complemented by research and observational insights that detail why the need is compelling. Please submit a 1500-word business report of your idea, a detailed business model (BM) canvas, discussion of the interrelationships among the BM components that are essential to success, critical risks and assumptions, and overall feasibility.

Assessment Criteria:

1. Effective explanation of the customer/market problem that needs solving and/or the reason the innovation is required. What problem that you are solving on the market gap that you are addressing. Discuss what your idea is to solve the problem. (statistics, figures) Justify why this idea.
2. The persuasive argument of the customer/client benefits to be generated by the idea (10%) (comparison, cost advantage)
3. Discussion of the proposed business model (15%)
4. Identification and discussion of the key interrelationships in the BM that will support the success of the idea (10%)
5. Critical success factors to be managed during the execution of the idea (15%)
6. Identification of critical risks and assumptions (10%)
7. Evaluation of the overall feasibility of the idea (15%)

Learning Outcomes

• Investigate cases of disruptive innovation in different business and social contexts by applying lean entrepreneurship principles 
• Develop ideas using conceptualization frameworks, innovation personas and horizon thinking in different business and social contexts  Demonstrate an understanding of and apply the stages of the innovation process, including learn how to forecast the success and market diffusion of your innovation using business model design logic

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