Innovation and Entrepreneurship

LINK to the reference book: 

VitalSource Bookshelf: Innovation and Entrepreneurship

Its a basic sample, please improvise (Less texty and more meaningful visuals) and no need to use black background.

Task : Using the BMC to prototype a business model

Work in your groups to take any one innovation which you think has market potential and use the BMC to prototype a business model that will realise its value, for a group of potential backers.

Please see the instruction below for setting up the BMC for your group.

Setting up the BMC for your group:

1. Select the ‘Business model Canvas.pdf’ link below to download a PDF explaining the various elements of the BMC, and answering the questions that will help you fill in each element: File attached
2.  To set up the BMC itself, you will need to sign up to an online BMC provider, Strategyzer. (N.B. the free trial on this site only lasts 14 days, so we suggest that you only sign up when you begin working on Unit 4.)
3. The link to open and set up the Strategyzer tool is: https://strategyzer.com/ Links to an external site.
4. Once you’ve signed up, you can start setting up a BMC and sharing it with your group (‘team’).

Questions to consider

As you create your prototype business model, consider these questions:

• Where, how, for whom and by whom is value created here?
• What was the value proposition?
• How did it identify and develop key activities, key markets, etc.?

Submission Guidelines

1. Exporting your BMC

Once you have created your prototype business model in Strategyzer:

• Please export your BMC to a PowerPoint presentation using the “Export as PowerPoint” option in the BMC.
• Once you have created and exported your presentation to PowerPoint, please make any amendments you want to make in your presentation.
• Please make sure your presentation is no longer than 3 slides.

2. Written reflection on your experience using the BMC – (Appendices)

– When writing your reflection, where possible, please justify your response by referring to the responses to the three questions above, to your reading and your own personal experience.

– Structure your thoughts, you can utilise an established model of critical reflection, such as Graham Gibbs’ Reflection Cycle (1988), or any other model you think works for this task. However, whichever you use, please state which model you’re using.

IMORTANT NOTE FOR WRITER: