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Idea Generation and Business Model Development

Question Preview:

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.Write a 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. The business model canvas must be discussed in the report and included as an appendix. The assignment should include:

1. Effective explanation of the customer/market...

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Question Preview:

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.Write a 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. The business model canvas must be discussed in the report and included as an appendix. The assignment should include:

1. Effective explanation of the customer/market problem that needs solving and/or the reason the innovation is required.

2. Persuasive argument of the customer/client benefits to be generated by the idea

3. Discussion of the proposed business model

4. Identification and discussion of the key interrelationships in the BM that will support success of the idea

5. Critical success factors to be managed during execution of the idea

6. Identification of critical risks and assumptions

7. Evaluation of the overall feasibility of the idea

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Solution preview

The word business use with reference to commercial activities, where production, manufacturing, trading or similar activities are carried out, the primary objectives of the business activities is to earn an economic benefits over a period of time. Business required a depth research and analysis of various factors associated with the commercial and non-commercial activities, a proper planning, depth analysis and selecting and identifying the data from the authenticated source are the fundamental requirement to formulate a smart business plan, further such micro planning enhance the success rate as again the probability for the failure of any project. The business model Canvas is a unique guiding model for every entrepreneur who want to start a new venture or who initiation a commercial activities with new idea and unique product or service facilities.

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