Week 5

Lecture Notes

Business Planning & Business Model Canva

Business Planning

Learning Instrument Speed

Traditional Business Plan

Executive Summary Business description Marketing plan Research, design & development Location Management Critical risks Harvest strategy Milestone schedule Appendix and/or bibliograph

What is a Business Model?

Describe the ratonale of how a company:

Creates, delivers, and capture value

What is Value?

Thing that makes it worth in monetary terms of the technical. Economic, service and social benefits a customer company receive in exchange for the price.

"Everything is worth what its purchaser pays for it" - Publilius Syrus, 1st Century B.C

Business Model Canvas 1

Benefits of a business Model Canvas Concise: Get to the point Fast: Can be outlined in a few days Portable: easier to share and update

Why Business Model Canvas? Provide the steps to make a business a reality Helps to connect the dots between the Value, Customer Segments and Revenue Streams Innovation Approach to developing a business

Business Model as a Handy Tool Customer Segment Value Propositions Channels Customer Relationships Revenue Strems Key Resources Key Activities Key Partnerships Cost Structure

Efficiency (on the left) Key Resources Key Activities Key Partnership Cost Revenue

Value (on the right) Channel Segments Channels Customer Relationship Revenue Structure

Reflection & Tutorial

1. How does a Bubble Tea business create Customer Value?

Bubble Tea is able to create a good drink that refreshes customer in this value. They realize that customer also want to have more choices so they introduce many new flavors and additive. To keep their customer always looking, they create seasonal items so that customer will constantly be looking at their business. Additionally, to encourage constant buying from customer, they also introduced loyalty card that allow customer to get a free drink (Or other incentive) after they have filled it up.

2. What is the 9 blocks sequence of completion in a Business Model Canvas Customer Segment Value Propositions Channels Customer Relationships Revenue Strems Key Resources Key Activities Key Partnerships Cost Structure

3. Which are the areas which a Bubble Tea business must be efficient in?

It needs to be efficient in making the drink, pearls and other components in a bubble tea drink. It needs to be then efficient in then combining it all together and packaging it in a way that is fast yet does not spill. The packaging has to either accommodate hot drinks or cold drinks so both should have relatively similar preparation and packing time.