Master Simventure Validate Business Assessment Answer

Assignment Task :

(REVISED) ASSESSMENT AND PROJECT BRIEF
To date, you have worked in teams of 5 or 6 persons to create and successfully pitch a new ethical product and/or service business idea for a small social enterprise aligned with the values of Poplar Works and the surrounding area.
In light of the current pandemic and working with the existing business concept that you successfully pitched as a team, you will now produce an individual business report. This report will outline how you would propose to develop your innovative, creative and commercially realistic business idea and now launch your brand online, demonstrating how it can be retailed to generate cash over the short term and demonstrate a profit opportunity over the medium term. You may continue to work with your team using whatever medium you see fit, in order to develop your ideas and your strategy for your brand. However, your report will be an individual piece of work.
Your report should outline your route to market with evidence to support your strategy, which may include a new launch date. The report should include a mitigation / feasibility assessment that takes into account the current pandemic and its impact on your individual role and responsibility.
You will now be building your own individual Business Model Canvas using the software tool software tool SimVenture Validate.
You must adhere to the following set of rules. You must:
1. Present your enterprise idea via your individual report to LCF FBS as their sponsor.
2. You have an assumed budget of £200 in which to develop and propose your enterprise concept.
3. Develop your existing team concept using which is either a newly made or customised product/service (i.e. you may not use an un-adapted, existing product).
4. Plan to develop the product/service around a virtual selling space.
5. Include a mitigation / feasibility assessment pertaining to your role and it’s responsibilities.
6. Complete and submit your concept proposal by 15:00 UK time, Tuesday 23rd June 2020.
7. Keep projected financial and/or operational records.
8. Develop their enterprise concept using ethical principles and values. This includes prohibiting the use of fur or endangered species.
9. Adhere to relevant UK legal regulations within your sector.

Questions
1. You must develop your existing enterprise idea. You are permitted to make evidenced changes to your product and/or service.
2. Include a mitigation / feasibility assessment pertaining to your role and its responsibilities.
3. Continue in your existing business role and responsibility. This will be the focus of your report. (Note, you will have to consider the whole business idea to do so).
4. You may choose to continue communication with your team in order to support your work.
5. Do not delete the Master SimVenture Validate Business Model Canvas (BMC).
6. You must create your own individual BMC using the software tool SimVenture Validate.
You can copy the already populated sections from the existing Master BMC and develop your own individual page now… or… at a time that suits all if you are co-working within your preassigned groups.
7. RE: Plagiarism – Include screenshots of your online Business Model Canvas / BMC in your report, along with your own annotated / summarised insights, relating to your individual role so as to avoid issues around plagiarism. Some sections may only be relevant for specific roles. Your job is to justify the images you decide to include.

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