The second part of this assessment is how constructively and collaboratively you have worked with others during the workshops scheduled for Assessment 2.
I have uploaded my first assignment on foodora delivery business model.
Assessment 2 Idea Generation Task Description: The objective of this individual assessment submission is to learn how to develop a business idea, complemented by brainstorming and leveraging the insights and skillsets of others. Assessment comprises two parts: Please submit a 5-page briefing paper of your business idea, its essential business model components, and aspects that will influence its success. A business model canvass can be included as an appendix. The second part of the assessment is how constructively and collaboratively you have worked with others during the workshops scheduled for Assessment 2. The assessment criteria for both components are detailed below. Assessment Due Date: Week 8 Friday (4 May 2018) 12:00 pm AEST Referencing Style: American Psychological Association (APA) Submission Instructions: Please submit online via Moodle Return Date to Students: Week 10 Friday (18 May 2018) Result and remarks will be available in Moodle through Feedback Studio. Please click on the blue Pencil to access feedback. Weighting: 30% Assessment Criteria: Business Idea: 1. Effective explanation of the customer/market problem that needs solving and/or the reason the innovation is required. (10%) 2. Persuasive argument of the benefits to be generated by the idea (10%) 3. Discussion of the proposed business model (15%) 4. Critical success factors to be managed during execution of the idea (15%) 5. Evaluation of the feasibility of the idea (10%) 6. Quality of written submission, referencing (10%) Quality of contribution and collaboration 1. Individual student has demonstrated they worked productively in the team, including the ability to brainstorm with others to generate a viable idea set and to solve project problems collaboratively (10%) 2. Evidence that the individual student has helped the group reach consensus on the most viable idea to take forward for Assessment 3 (10%) 3. Evidence that the individual student has been proactive in ensuring the the successful completion of the portfolio of materials for the pitch in Assessment 3 (10%) Learning Outcomes Assessed: · Investigate cases of disruptive innovation in different business and social contexts by applying lean entrepreneurship principles · Develop ideas using conceptualisation 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 Graduate Attributes: · Knowledge · Communication · Cognitive, technical and creative skills · Research · Self-management · Ethical and Professional Responsibility · Leadership CCI22042018_2.pdf CCI22042018_2.pdf MGMT THINK BIG (MGMT20143) Business Model Deconstruction BY, Abhishek Kuamr: 12069628 LECTURER & TUTOR -DR. MO KADER SUBMITTED TO, CENTRAL QUEENSLAND UNIVERSITY, SYDNEY CAMPUS JUNE, 2017 TABLE OF CONTENTS DESCRIPTION OF BUSINESS AND INDUSTRY……………………………………….3 DESCRIBING THE BUSINESS MODEL CANVAS……………………………………..4 THE BUSINESS MODEL CANVAS……………………………………………………...5 KEY RELATIONSHIP…………………………………………………………………………….5 CRITICAL SUCCESS FACTOR………………………………………………………….6 FACTOR CONTRIBUTING TO DOWNSIDE RISK…………………………………….6 CHANGES IN BUSINESS MODEL………………………………………………………7 REFERENCES……………………………………………………………………………...8 DESCRIPTION OF BUSINESS AND INDUSTRY In the contemporary scenario, e-commerce has emerged as fastest growing industry that has supported the business in enhancing their reach through delivering services and products over the online platform. Considering the increasing aspect of e-commerce, it has been assessed that the advanced information technology and increasing online demand among the customers is regarded as major factors that drive the growth of the e-commerce industry. In the present aspect, various small and large scale companies offer their products directly to the customers with the help of using e-commerce platform (About Us, 2018). For the present study selected organisation is Foodora Company one of the leading online food company based in Berlin-Germany. The online company offers the range of meals and food services over different restaurants by bike courier or delivery driver to the customers. The key mission of firm is to deliver good food to their customers from the placed restaurant. The company mainly operates their activities in the ten countries and delivers food to students and working professionals. However, currently, the company is highly dependent on this market segment that assists in increasing the ratio of sales and profits. With the help of using Foodora website or mobile application customers can easily browse nearby restaurant and place their order foodora couriers delivers the food at the doorstep in about 30 minutes. DESCRIBING THE BUSINESS MODEL CANVAS Business canvas model is an effective instrument that is mainly used by the organisation which showcase their core activities and functions. The model has been framed by the organisation as it assists them in understanding and gaining insight information regarding the operations that are carried out within the setting. However, the instrument mainly focuses on reviewing different components such as Key activities; key partnership, cost structure, revenue streams, customer relationship, value proposition and customer segment (Osterwalder et al. 2011). Along with this, the business model canvas also supports the company to have knowledge regarding their own cost structure and revenue aspect that clearly showcase their income and expenditure ratio. It has been described that Foodora Company mainly focuses on key activities related with ordering the food of customers from the selected restaurant, delivering the packed food or meal directly to the customers at their doorstep, managing online activities etc. so that it may easily satisfy the customers need and requirement. The business canvas model has also determined key partners that are restaurants as well as online food suppliers so that they may engage in providing required food services and products to the customers. However, to carry out the effective and smooth flow of all processes and activities of Foodora Company, it is required to make sure that it features availability of effective and adequate resources that are human resources as well as technological resources that support the company in their successful operation. In addition to this, at present Foodo4ra Company is mainly targeting their different customer segments such as working professionals and college going students as they likely to have their food outside the home. Thus, targeting both the segment customers would support the online food company in attaining their goals and objectives (Lindgren, 2012). Along with this, for targeting the customer’s online food company has also engaged in using different channels such as online delivery and offline takeaway services for satisfying their different customers. THE BUSINESS MODEL CANVASKey partners Online food suppliers Food storage partners Organic food producers Key activities Cooking meals & baking activities Social media Packaging frozen meals Planning of daily menu Key resources Human Technology Value proposition High quality product Convenience of takeout facilities Affordable prices Customer relationship Personal assistance Channels Online delivery Offline Customer segments Working professionals College going students Cost structure Operation cost Marketing Employees IT cost Revenue stream Commission Online orders KEY RELATIONSHIP With the help of reviewing nine building blocks of business canvas, it has been assessed that all blocks have the significant relationship with each other that support the organisation in attaining the competitive level. The building block of business canvas includes key resources that support the company in performing their activities along with the creating value proposition so that it may easily satisfy the customers through providing them timely delivery of the food order. Along with this, the availability of skilled and competent staffs within the company support in attracting the customers and creating value by offering them quality services through handling the online orders (Ojasalo & Ojasalo, 2015). In addition to this, different restaurants and online food providers support the company through delivering food accordant with the demand of customers in every possible manner. On the other hand, cost structure within the online food company has also been depicted that has supported the company in allocating the budget so that it engages in the proper functioning of the online food delivery. The cost structure indicates that it mainly bifurcate the cost of the operating cost, marketing activities, employees as well as IT cost that support the company in managing their activities. Thus, the cost structure overall benefit the organisation in managing their key activities along with enabling value proposition so that company easily attain the significant position in the e-commerce industry. CRITICAL SUCCESS FACTOR In the present scenario company focuses on determining their critical success factor that significantly assist the company in attaining long-term success and growth in the e-commerce industry (Dudin et al. 2015). Therefore, it has been described that critical success factors are important for the firm that assist the online company in attaining the sustainable over the other players functioning in the market. With the help of the assessing overall activities and functions of the online food company it has been determined that it features effective human resource management that supports the firm in performing their activities. The skilled and competent staffs support the company in delivering proper and effective activities through handling online website and mobile application services. With the help of skilled staffs it supports the online food company in managing their activities as well as food processing items so that it may easily deliver the packed food or meal directly to the customers (Fritscher & Pigneur, 2011). In addition to this, innovation within the services and products among the online food company is termed as the critical factor for the success. With the help of innovation in the online food company it assist the company to expand their operations in the different other countries across the world so that it may easily target the mass of audiences towards their services. In addition to this, with the help of innovation it also provides range of food and packed meals to target customers so that it may easily satisfy their needs and wants. FACTOR CONTRIBUTING TO DOWNSIDE RISK Heavy dependency on one particular customer segment and increasing competition within the food industry are considered as the significant factors which will contribute to the downside risk of Foodora. It can be expressed that the selected business enterprise relies entirely on customer segment which is working professional and in future, the changes in need and demand of this market segment will results in creating several kinds of challenges in the growth and success of Foodora (Spieth, Schneckenberg & Ricart, 2014). In addition to this, the competitive food industry is also a significant factor which can contribute to the downside risk of the organisation. It is required by the brand to develop effective plans and strategies so that it can deal with the issues and challenges in the best possible manner. Further, an aggressive approach to marketing and promotion needs to be employed by the brand so that it can create high demand for its products and services among people in the market. Nowadays, increasing competition is a significant threat to the business because the customers now have the opportunity to switch from one food provider to other easily. This has created complications of the brand regarding attaining long-term goals and objectives (Osterwalder & Pigneur, 2010). To deal with competition, the selected organisation can also introduce a new range of innovative products and services. CHANGES IN BUSINESS MODEL