This is a group assessment. In a team of 4, you will create and develop a revised Business Model Canvas ( BMC) based on one of the team’s ideas from Assessment 1. It is expected that new market/situational research has been conducted to provide additional content for each of the pillars of the BMC. Teams are expected to identify the risks and/or issues that they see or anticipate. These risks and/or issues are prioritized and further discussed the changes and anticipated effects. A revised BMC is developed and each of the nine pillars are discussed in greater detail.
The report has several parts to it:
An introduction is provided highlighting the original problem or opportunity and the solution.
A brief overview of the original BMC is provided (i.e. the BMC that was presented in Assessment 1). This should be no more than a paragraph. The original BMC should be included in the body of the assessment.
New market/situational research is provided. This research should include new details on the industry, market, customers, and competitors.
The risks and/or issues that stem from the market/situational research are identified, prioritized, and justified.
A revised BMC is presented, with anticipated effects described.
This BMC has 3-5 points identified in each of the nine pillars. A detailed discussion is then given on each of the nine pillars of the BMC.
A conclusion is provided.
References (where appropriate).
Students are required to submit the Final Business Model Canvas Report via the submission point in the assessment folder in Learning@Griffith. The submission should be a Word or PDF document. Your report must not exceed 3000 words. The word limit must include any tables, figures, references (reference list is not included in word count); please use the APA style. There is no need for a separate title page or table of contents.
Where an assessment item is submitted exceeding the word limit (3000 words), the marker will stop marking the assessment at the permitted limit. In cases where the marker excludes content beyond the specified limit, the marking criteria will be applied only to the portion of the assessment falling within the acceptable limit.
Only one person needs to submit on behalf of the team.
Each student must also submit a Cover Sheet via the submission point in the assessment folder in Learning@Griffith. Both questions must be answered and after selecting you may check your responses to the selections by selecting OK.
Introduction-In this section, write 4-5 sentences giving a brief outline of the problem or opportunity and the proposed solution.
Original BMC -Provide the original business model template used in Assessment 1 and very briefly remind the reader of the original BMC value proposition, target customers, and revenue.
Further Situational/Market Research-In this section, provide new research used to further develop your business model. This may include, but is not limited to, situational/market research, target customer interviews/surveys, images of prototypes, supplier/distribution research, expected costs and sales/revenues, and peer feedback from your pitches. Explain how the solution has been modified based on this information.
Issue/Risk Identification and Prioritisation-In this section, identify issues and risks based on your analysis of the new market research and your original BMC. Prioritise and rank these based on impact/importance. (Use theories, frameworks, and evidence-based arguments to justify why they were identified and ranked that way).
Anticipated effects -In this section describe the proposed changes to the BMC because of these risks/issues identified and any assumptions as part of that change. For example, you identify you are missing skills and will need to hire specialized staff. Hiring specialized staff has the potential to enhance the value proposition (through the development of new innovative products) but will also increase costs. Assumption: that specialized staff is available.
Revised Business Model Canvas-In this section you provide a copy of the revised BMC and discuss its nine sections (briefly). In your discussion, you need to clearly state and highlight what has changed because of your risk issue identification and analysis. If you do not highlight this in the Business Model Canvas you will receive zero marks for this section in the rubric.
Conclusion –provide a very brief conclusion on the overall report
Reference List –where appropriate provide a reference list, using the APA referencing style