Coursework Report (Canvas Model)
Part I – The New Business Organization
The project seeks to introduce an idea that alerts purchasers when there are discounts going on in shops that they like so that they do not miss out on the offer. The exercise shall provide reprieve to individuals who may not have enough time to walk around to identify the selling stores that offer the best discounts.
The customer in this scenario falls into three sections including pains, gains, and their jobs. The project desires to solve the pains buyers may experience which include missing out on the deals that may interest them and not knowing where to access the offers that may save them from spending a lot. The gains in this scenario encompass not having many apps to keep tract of the ongoing discounts with the available one offering vivid description of where to access the discounts. Finally, the app considers the customers’ jobs in the sense that it will create more time to focus on the other jobs considering that people are increasingly having tight schedules where they find it difficult to spend more time identifying the selling points that offers the best offers.
The activity will separate the customers into five different segments to find it easier to serve them without major complications. The groups will fall into mass market, niche market, segmented groups, diversified sections, and multi-sided markets. The team in this case shall follow the teachings of McDonald (73) who asserts that segmenting the customers provides the chance to know what each group requires thus making it easy to serve it without major complications. The agency shall segment the buyers based on the cookies that are embedded within the actual app for the phone.
The group shall apply value proportion to solve the problems customers encounter and to satisfy the buyers’ needs. The value proportion method will allow the service providers to evaluate what the customers require before proceeding with any implementation.
The agency shall apply customization to achieve the customers’ wants. The group, for example, shall embrace a technological approach that suits the users’ wants. The team will also constantly review the program to achieve a system that meets the purchasers’ needs.
The team shall adhere to definite channels that will provide guidelines on how to reach the buyers. The group shall develop a communication platform that creates awareness about the app through social media platforms, and will also create an evaluation program that create the room to monitor the purchase, delivery, and after sales processes.
The key resources in this project involve expertise who have advanced skills in mobile apps, and also includes smartphones that will allow purchasers and operators to install the app. The other key resources in this undertaking include computers that will enhance the functioning of the app.
The program shall encompass a wide range of activities which include taking care of the programmers, and will also focus on building the community relationship which is of uttermost importance. The undertaking will also pay attention on maintain a solid connection with the partners who will play critical roles in the development of the undertaking.
The production process shall focus on the designing, making, and delivering services of superior quality to impress the buyers. The production process will make sure that the app works continuously and that the users do not encounter major shortcomings that may cause delays or inconveniencies.
The team shall help consumers to solve some of the challenges that they may experience in their attempt to use the app. The problem solving process shall entail conversing with consultants and engaging with other service organizations that may provide the necessary guidelines that may help to become successful in the venture.
The buyers will be able to access the services via different networks including visa and e-bay to provide the opportunity for fast transaction. The Microsoft firm will also serve a significant role in facilitating the transactions to achieve reliable transactions.
The firm will partner with operators in the groceries and fashion sectors, and will also join hands with individuals who have hectic lifestyle and would not want to waste time to find the stations that provide the best discounts. The project will also partner with relatively wealthy people who may love such ways of buying.
The business model shall focus on a cost structure that is reliable to buyers and which does not put much pressure on the consumers. The agency will also adopt a cost structure that will provide the chance to acquire all the necessary materials in a way that does not press the institution.
Part II – Reflective Portfolio Learning Outcomes
I am an entrepreneur with entrepreneurial traits that I believe will help me perform my duties quite effectively. Some of the entrepreneurial traits that I own include being a good communicator, being innovative, and being a risk-taker. I, however, have some non-entrepreneurial traits that might affect how I act as an entrepreneur which include being impatient and being unable to withstand stiff competition. I feel that my entrepreneurial capabilities match that of other team members and that sharing ideas will lead to the best outcome. Finally, I believe that entrepreneurial traits are necessary in the creation of a new business because Cope (379) implies that an enterprise is destined to fail when the operators lack the appropriate techniques.
The project has provided valuable insight that I feel are new to me. I, for example, have learned that it is fundamental to establish activities that meet the customers’ wants to achieve success. I have also learned that it is critical to develop effective forms of solving some of the problems that customers may experience in the course of the interaction. I have also acquired new knowledge that will be of importance to me. I, for example, have learned that providing quality services and goods attract more buyers thus providing the opportunity to record better outcome.
Furthermore, the project has helped me to develop new skills that will be of significance to me now and in the future. I have developed better marketing techniques that entail the use of technological forms such as the internet and social media. I have also developed better skills to manage people and resources. For example, I have become aware that individuals have different attitudes and skills which require proper coordination to achieve the best outcome. I have also gained fundamental insight from the errors that have occurred in the team. I, for example, have become aware that errors lead to wastage of time and may lead to fatal consequences when no intervention happens in good time.
The events during the project played essential functions in helping me develop my skills. The project triggered skills development in the sense that it compelled me to work together with other individuals who have knowledge on how to go about the activities of the undertaking thereby forcing me to learn new skills. The developed skills shall help me to handle future projects without major challenges thus instilling the confidence in me.
The project presented some activities that were stressful and also availed rewarding opportunities. An example of a stressful undertaking involved conducting intensive research on the area of focus which consumed much time and required dedication and sacrifice. The stressful encounters, nevertheless, helped me to become a person who can withstand immense pressure that requires resilience. The process of collecting information was rewarding because it equipped me with information that will help me now and in the coming years.
Writing the project serve important roles in helping me realize my entrepreneurial skills. I, for example, learn through the writing that I can acquire relevant information about writing a business project which is a strong indication that I can develop a business proposal or any other report that focus on business matters. Furthermore, the writing helps me to become aware of the entrepreneurial skills that business people must have which gives me the chance to identify whether I have the skills or not.
Working as a team has influenced my entrepreneurial learning which I believe has positive impact on me. Serving as a team has helped me to believe the statement by Cope (384) that teamwork provides the chance to deal with difficult issues in the earliest time possible and also creates the chance to gain new insights considering that people share information with different parties.
The project has increased my ability to notice business opportunities and also increased my desires to become an entrepreneur. I, for example, have gained the ability to understand the unexploited areas that may have better returns and which may build economic stability such as developing apps that may help customers to identify the selling stores that offers the best discount. I also consider the project to be helpful to me because it has increased my desire to become an entrepreneur. I have developed more interest to become an entrepreneur because apart from gaining some income, I get the opportunity to interact with other business people and consumers which provides me with more opportunities. I look forward to become an entrepreneur in the future to improve my knowledge and skills in this area, and to elevate my economic status.
Cope, Jason. “Toward a Dynamic Learning Perspective of Entrepreneurship.” Entrepreneurship Theory and Practice, vol. 29, no. 4, pp. 373-397.
McDonald, Malcolm. Market Segmentation: How to do it and how to Profit from it. Wiley & Sons, 2012.
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