BMC ENT - Examples assignment PDF

Preview

Summary

Examples assignment...

Description

BUSINESS MODEL CANVAS PRINCIPLES OF ENTREPRENEURSHIP (ENT530): BUSINESS MODEL CANVAS FACULTY & PROGRAMME : FACULTY OF ADMINISTRATIVE SCIENCE AND POLICY STUDIES (AM228) SEMESTER

: SEMESTER 3

PROJECT TITLE

: SUZY’S BREAD SHOP

NAME

: MOHAMAD FIRDAUS BIN MOHD NOOR (2019423558) MOHAMAD YUSRI HAKIM BIN MOHD MOHAMAD ROSLAN (2019251862) HUSNUL QATIMAH ADHA BINTI MOHAMAD AZNAN (2019422804) NUR ASYIKIN BINTI ABD LATIF (2019685716)

LECTURER

: DR AZYYATI ANUAR

ACKNOWLEDGMENT First and foremost, grateful to Allah for giving us a chance to settle this Business Model Canva assignment as one of the requirements that need to be accomplished in the course work assessment for subject code ENT530. We would like to express a thankful gratitude to my entrepreneurs (ENT530) subject lecturer Dr Azyyati Anuar for the guidance and encouragement in finishing this assignment and for teaching us in this course. She has given a good service by providing useful information. Without her, we would not be able to complete this assignment. This assignment has been supported by many people, especially our parents that give us some advice and morality to do this assignment. Also, a great thankful to our friend especially our classmate KAM2283A that gave us supporting help and guidance during the process completion of this assignment. Lastly, to those who had involved and contributed directly or indirectly to this assignment. Thank you for supporting us until the end of this assignment. We deeply apologize if there was anything wrong with us during this specific work period. Therefore, we hope this Business Model Canva assignment will give a reader an understanding on how to manage a company by using this method. Last but not least, I also gain a lot of benefits throughout this assignment. In doing this assignment, it has helped us to enhance our knowledge regarding 9 blocks of business model canvas (BMC) which are key partners, key activities, value proposition, customer relationship, customer segment, key resource, distribution channel, cost structure and also revenue stream. These 9 blocks of business model canvas (BMC) are very important in every business. So, it is very helpful for us in the future to start our own business.

TABLE OF CONTENT

PAGE ACKNOWLEDGEMENT

ii

TABLE OF CONTENT

iii

LIST OF FIGURES

1

LIST OF TABLES

2

EXECUTIVE SUMMARY

3

1.0 INTRODUCTION 1.1 1.2 1.3 1.4 1.5

Company Background Problem Statement Opportunity recognition SWOT analysis (two competitors) Purpose of business model canvas preparation

2. BUSINESS PROPOSAL 2.1

Business Model Canvas (BMC)

2.2

Explanation of BMC

4-8

9-19

3. CONCLUSION

20

4. APPENDICES

21-30

LIST OF TABLES

Name of organization

Suzy’s Bread shop

Business Address

1F-63,

Queensbay

Mall,

Persiaran Bayan Indah, 11900 Bayan Lepas, Pulau Pinang. Website/ email address

[email protected]

Telephone Number

04-3322886

Main activities

Baking

Date of commencement

1 January 2020

Date of registration

7 January 2020

Name of bank

Maybank

Bank account number

158417246922

1

LIST OF FIGURES

Tittle

Description

croissant

The homemade croissant symbolizes that are often in demand, one of the most decadent things customer eat.

Naturally nutritious & delicious

We will always create a delicious new recipe from time to time and at the same time retain the nutrients in our products

Suzy’s Bread

The name of Suzy is really famous among English people, so we choose it as people very familiar with that name

Since 2020

Is the year that our business is established and hoping that it will become successful

Rectangle shapes

In term of psychology, rectangle means authority, power, and sense of trust. we will use this concept to give our customers the best and quality serves

2

EXECUTIVE SUMMARY The name of our bakery is Suzy’s Bread. It is a business partnership company. The company is owned by partners Mohamad Firdaus, Mohamad Yusri, Nur Asyikin and Husnul Qatimah. The products being sold in the bakery will be various breads and cakes. They will all be unique, and like nothing anyone is seen before. Deliveries will also be available under some circumstances. Customers will love this bakery because awareness of high-quality baked goods is on the rise. Good breads and cakes are a rare combination of nutrition, convenience, and luxury. Today's consumer has less time to create wholesome, handmade breads and cakes, but increasingly appreciates the nutritional and sensory benefits it provides. Good breads and cakes provide fibre and carbohydrates in a convenient, low fat form that is portable and delicious. Good breads and cakes never go out of style. Suzy’s bread will produce and sell high quality of handmade breads and cakes to the customers at Queensbay Mall. The customer will never regret with the services provided by our shop. For target market, we target the customer that consists if teenager, college student, the family has child. We also are targeting someone who has hectic lifestyle because we also provide delivery services, so they do not need waiting for their ordered food done. We also targeting for someone who want to have some celebrating birthday party because we provide a special cake for them. The competitive advantage is that Suzy’s Bread is offering to customers with large range of breads and cakes with natural ingredient and seasonal flavours base on fruits. Our products are known for their distinctive quality and taste. Using only the freshest natural ingredients concocted using traditional recipes and stringent quality control, our products are not only wholesomely nutritious but also of consistent quality, with value for money. The main and potential advantage to the business is the number of the diverse customers and it has been a trend food of their circle. Moreover, the market segmentation is on the base of the products therefore, these desserts will attract the customers from other countries and regions. The important quality of products and services also value adding to the customers. In addition, pricing of Suzy’s Bread products is feasible and economical for the customers. Lastly, our location is very strategic since our shop is located in the one of the famous shopping mall in Penang which is Queensbay Mall.

3

1.0 INTRODUCTION 1.1 COMPANY BACKGROUND Suzy’s Bread was formed on 1 January 2020 as a relatively small-scale friends run bakery shop with six employees and many of the products being manually produced. Suzy’s Bread specializes in the production of breads and cakes. Our products are known for their distinctive quality and taste. Suzy’s Bread engaged in the food that is making bread and cakes. We choose a business in the field of food because the business is tailored to the needs and the skill we have and adequate supporting factor for developing certain this effort. The company is being founded by Mohamad Firdaus and the partners who is Mohamad Yusri, Nur Asyikin and Husnul Qatimah. After graduated in 2018, they started to work at Jenni The Cake & Bake Shop in George Town in Palau Pinang and also Bunny the Cake House in Perak as a baking breads and pastries. They have spent the last two years working at there. Together they bring a wealth of practical experience and a realistic market in the business. In 2020, they agreed to try in the field of food is making bread and cakes. They believe this effort will develop well because they formed a partnership by opening their own store at Queensbay Mall. Suzy's Bread will stand out from the competition due to their uniqueness and outstanding quality. Our vision of is to provide an increasing portfolio of high quality, speciality products in the market, whilst maintaining excellent customer satisfaction in every interaction. Our superb team of highly trained employees will ensure that all goods are produced fresh to our customers. Below is the business structure of Suzy’s Bread:

Financial manager Husnul Qatimah

Cashier

Specialty bakers Kitchen help Drivers/distribution 4

1.2 OUTLINE OF BUSINESS MODEL CANVAS PREPARATION

Figure 1. Unfilled Business Model Canvas This business model canvas can be used as visualization charts with elements describing a firms or product’s value proposition, infrastructure, customers, and finances. It assists firms in aligning their activities by illustrating potential trade-offs. Thus, it will make an increasing market strategy and implementation of technology to be more effective in market. This business model canvas will break the business model down into easily understood segments which is key partners, key activities, key resources, value propositions, customer relationships, channels, customer segments, cost structure, and revenue streams. By this exercise will give us some knowledge on how to make a smarter strategy with a simple solution than ever and bring a positive impact with term viability and cost effectiveness. It helps entrepreneurs to keep on key building blocks to save time and succeed by validate the market significance of products and services which regarded for modern technology in this case. By using this method, we will know about the strengthens and weaknesses about our project. So, it will make an easier skill to reach the purpose of our goal by following the step market implementation. Unfortunately, there a many barriers coming through the market and businesses related barriers of costs, customer reach and collaborations and those that pertain to the practical nature of limited initial capacities within the team. 5

1.3 TARGET CUSTOMER’S PROBLEM AND SOLVED PROBLEM The uncertain customer is a customer that comes into a bakery with no clear idea of what he or she wants to purchase. This customer may have very little experience ordering baked goods. She may be planning a birthday party for the first time. She may want to try something new without knowing exactly what it is she wants to try. Suzy's Bread can help this customer by having a checklist of questions that transition from vague to specific. First, Suzy's Bread will figure out what type of event or dinner is being planned. Next, determine the size of the event, the theme of the event, the other food being served at an event, and the food the customer still needs. Then, move on to flavors, styles, price, etc. This customer needs help to take charge and offer assistance. The opposite of the uncertain customer is the very specific customer. These customers "know" exactly what they want, but they may not realize that your business operates differently than they imagined or anticipated. With this customer, it is important to make sure to repeat their specific requirements and then clearly explain how Suzy's Bread will meet these requirements. If Suzy's Bread don't have a specific flavor or offer a specific item, offer suggestions to this customer about equivalent products. Sometimes, customers seem to be determined to get upset when they are ordering from you or picking up a finished product. There is often nothing that you can do to solve the problems or complaints of these dissatisfied customers. Still, it's important to remember that it is Suzy's Bread responsibility to try. Detailed preparation will help Suzy's Bread prevent runins with customers who are determined to be upset. Do not allow customers to be ambiguous when ordering. Gather information about colors, sizes, flavors, dates, and other important order details so that Suzy's can exceed the customers' expectations.

6

1.4 SWOT ANALYSIS (two competitors) SWOT stands for Strengths, Weaknesses, Opportunities, and Threats for an organization. As we knew, SWOT is the best way that can reduce the chances of failure, by understanding what the lacking, and an eliminating the hazards that would otherwise catch the unawares. The company that be a competitor for Suzy’s Bread namely Harold’s Bread and Bread History.

ANALYSIS

DESCRIPTION

Strength

-Business location is easy to find. -Good

educated

and

experienced

employees in the bakery field. -Art facilities for products. --Worldwide brand recognition and high brand loyalty Weaknesses

-The security systems are weak. -Pricing.

Opportunities

-Approved bakery institute. -Expansion of the product range. -Growing concern for health.

Threats

-Already established bakeries in the area. -Economic downturn.

TABLE 1: SWOT Analysis of Harold’s Bread

7

ANALYSIS

DESCRIPTION

Strength

-Good equipment to meet the demand. -Menu reflects demands for fresh, healthy, and fast food. -Hygienic food and quick service.

Weaknesses

-poor customer serving -Franchise management on a global level is a challenge. -location is hard to find

Opportunities

-Introduce better vegetarian products. -Introduce home delivery. -Emerging markets and expansion abroad.

Threats

-Threat from other eating joints/restaurants. -Health-conscious people.

TABLE 2: SWOT Analysis of Bread History

8

2.0 PROPOSE A VIABLE BUSINESS PLAN USING A BUSINESS MODEL CANVAS Many companies nowadays used the business model canvas to build the understanding of a business model in a straightforward and structured way. By using this canvas will also lead to insights about the customers served by the company, the value propositions, the channels used to promote the products, and how the company makes money. By making the business model canvas can also help to develop the understanding about our project idea and our business focus. Besides, a business model canvas is a quick way to get an impression of whether it was able to execute by a manager or staff. The terms are easier to form and it is describing a firm’s or product based on the nine elements. For example, the core channel element that discusses how the company would sell their product to the customer. It has a sustainable way to keep customer loyalty at the same time. The table was not containing so much information thus it just states one form which is easier to understand the main idea. Business model canvas helps entrepreneurs to keep focus on key building blocks to save time. It helps to track the progression in various key elements of the business. Other than that, it helps to expand our thought and gives us a way to hit the goal in a short time. The canvas functions as a guide and cannot contain too many details. It’s simple and very quick communication between the owners of the business and its stakeholders. Besides, it is functions as an analytical tool which has a capacity to structure our thoughts. The business model canvas can ensure the fundamental components of the business model that need to be run. So that, we can keep focusing and follow the flow to grow up our business.

9

Customer Segment

Customer segments are the community of customers or businesses that we are aiming to sell our product. Customer segment is one of the most essential building blocks in the business model canvas for our business, so getting this building block right is the key to our success in Suzy’s Bread. The first one for our customer segments is college students. This is because Suzy’s Bread aim is to “naturally delicious and nutritious” amongst the people outside there. We recognised that students do not have time for breakfast or having a proper menu as they have to go to the class on time. They think that they need healthy food that is easy to eat everywhere and every time they feel hungry. That is why our store is full of college students as our business is closest to the university. Therefore, we always ensure our products are always adequate as every day we have a higher demand especially from college students. Plus, they also can save their money wisely because our products are very affordable and worth it for them to eat. Other than that, our customer segment is focused on families with school-aged children. We find that the parents nowadays are very busy with their work and do not pay enough attention toward their children. Therefore, Suzy’s Bread helps this matter, in which the parents can buy our bread or cake after finishing working hours and take it home for their children. This ensures that the child feels valued by their parents because the children love dessert foods such as bread which consist of many types. Our products are considered good food to serve to their children who are still in school-aged to get enough nutrients as we also sell vegetable bread homemade which is considered our bestselling. Hence, their parents feel not have to worry about their children not getting enough nutrients because it is always available through Suzy’s Bread. Moreover, Suzy’s Bread is also intended for vegetarian people which is a lifestyle that excludes all animal products and attempts exploitation of animals such as meat, fish and so on but gets along on various plant foods. Therefore, we take this opportunity by producing various breads special for vegans which is we use the ingredients vegetables, whole grain, nuts, seed and so on in order to help them to easily reach the vegan products. This is because it is very hard to find vegan food nowadays. Only in Suzy’s Bread, they can eat the vegan bread or products as much as they want. Last but not least, working people are also our customer segment. This is because our menu in Suzy’s Bread is very simple and easy to serve. Therefore, we make bread in the form of frozen food. This is to make our beloved customer easy to prepare and enjoy it. The time to heat the bread is very short which only takes around 5 to 10 minutes. Then, it helps our customers who are busy working until they do not have enough time for lunch or breakfast. 10

For example, Suzy’s Bread can be in their office pantry so all employees can just heat it in the microwave and enjoy eating together to save their time.

Value proposition

The value proposition is an invention, feature or service designed to make a product more appealing to consumers. It offers a specific mix of items that can provide the client with value by addressing a challenge faced by the client. However, as we obtain more data from our customer reviews, the value proposition will shift, so that we end up adjusting our value proposition many times. Suzy’s bread is here for anyone who wants to have a delicious bread and cake without the hassle of having to bake it themselves. At Suzy’s bread, customers can buy breads and cakes with variety types of design and flavor in affordable price. We focus on both flavor and design at the same time. We believe beauty design and delicious taste should be directly proportional to each other. We do not add any preservatives in our products. The ingredients used in our products are also high quality, premium and organic. Besides, customers can also request any design according to their wishes. They can also pre-order the breads and cakes for any occasion. We also hired the workers who has experienced and talented in this field. We baked our breads in small batches to ensure freshness and quality. Nothing is mass produced and each cake is freshly baked and handmade individually in the kitchen by our experienc...