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Enterprise Create Own Business Concept

University: UK College of Business and Computing

  • Unit No: 8
  • Level: High school
  • Pages: 8 / Words 1961
  • Paper Type: Assignment
  • Course Code: BM6005
  • Downloads: 190
Question :

This sample will let you know about:

  • Discuss about the Business Canvas model.
  • Discuss about the presentation of second iteration of business concept.
Answer :
Organization Selected : Gorgeous Gentian Shampoo company

INTRODUCTION

It is essential to have new and effective idea which is helpful in order to create an enterprise (Weill and Woerner, 2013). The chosen company for this report is Gorgeous Gentian Shampoo company that is offering high quality products for customers. This is UK based company that is providing its products to different part of the world. This report includes business concept of new venture. In this, feedback is taken in order to modify as well as enhance the business concept. Apart from this new business canvas model is developed on the basis of feedback modifications.

Presentation of original business concept

Business concept includes the idea of new venture on which company will perform task. It is significant that concept on which business is develop is able to meet with customers requirement. Business canvas model is an effective tool that will support Gorgeous Gentian Shampoo company to identify different aspects of business (Das, 2016). Canvas model of business will help in analysing various aspects of business such as key partners, activities, value proposition, customer relation, customer segments, key resources, channels, cost structure and revenues streams of business. Business canvas model in context of respective company mention below.

Testing of original business concept

I have presented the concept of Gorgeous Gentian Shampoo business in my class. This is helpful in identifying the impact of business and its capabilities in market environment. My teacher, friends and classmates has shared their view point and feedback with the me. There feedback is very supportive in modifying the concept or idea of business in order to achieve desired goals. In this presentation I have clearly explain the concept of Gorgeous Gentian Shampoo business properly in order to provide complete information to them. I have shared each and every aspect of business with my teacher and classmates. This is helpful in identifying as well as evaluating pros and cons of respective business concept (Wetherly, 2014). This aid in taking better decisions for growth and development of respective business. The feedback given by teachers and classmates has been helpful in modifying the business concept in order to enhance the overall performance of organisation. I have discuss this business concept with online groups which includes my fellow students. Online discussion group is a great platform where I can discuss the concept or ideas of business with other students in order to enhance performance of respective business.

The feedback is majorly related to the improvement and modifications in performance of businesses. By evaluating the feedback, I have identified some areas in which I needs to make modifications in order to accomplish set goals and objectives. The feedback taken through discussion will help in enhancing the products and services of Gorgeous Gentian Shampoo company that will lead to meet with the requirement of customer. This is helpful in full filling customers’ needs as determining different ways to modify the current products (Whittle and Myrick, 2016). These modifications will help in attracting more customers towards business. Analysis as well as evaluation of different feedback is given below in detail.

Labels – It is feedback given by my teacher that I should also add information about the products on its bottle. This will help in providing complete detail about the products and ingredients. By teacher has explained me that it is responsibilities for makers to provide warning label or information about ingredients that has been used in production of Gorgeous Gentian Shampoo for skin allergy person. This will also help user to apply the product carefully and use it appropriate in order to get best results. Get Business Essay Help from our Experts!

Recycling material – It is suggested by my friend that I should use recyclable plastic bottles for Gorgeous Gentian Shampoo products. This should have proper information about all the ingredients as well as raw materials that is used for making products. Usage of recycling martial in development of products will lead to have positive impact on society and environment. Through this respective company will be able to develop strong and positive brand image of company in market area.

Solution to problem - Gorgeous Gentian Shampoo products includes natural ingredients that have anti damage properties. My classmate has given me a feedback that I should develop and promote product that is helpful in resolving the individual issues. The products that is developed by respective company should be able to meet with the requirement of customers (Eggers and Macmillan, 2013). It has been determining that it is important the customers perceive GG shampoo products as a solution to their problems and to strengthen the hair.

Competitive advantages – My teacher has suggested that I should identify as well as analyse the major competitors of Gorgeous Gentian Shampoo business. This will help in taking an effective decision. I have analysed that by comparing Gorgeous Gentian Shampoo company and its products with rival company I was able to determine various aspects that will help in gaining competitive advantages over other rival companies. Through this I have analysed that rival companies are using more chemical in manufacturing of shampoo products which can damage hair of customers. So usage of natural ingredients as well as raw material in development of products will lead to gain competitive advantages over other rival companies (Galpin, 2017).

Gentiant violet quantity – It is suggested in the online group discussion that while modifying Gorgeous Gentian Shampoo products I needs to increase the quantity of gentiant violet. So that it can have stronger impact on the hair colour. In current business concepts respective company is using Gentiant violet that is lead to have purple hint on blonde hair. According to the feedback, Gorgeous Gentian Shampoo company needs to higher the quantify of gentiant violet ingredients in it products. So that this product will lead to have impact on dark hair as well.

Cost structure – There are different types of cost that occur while conducting different activities of business. It is essential to evaluating all the cost of business in order to take better decision for organisation. In current business concept the major cost of Gorgeous Gentian Shampoo business in order to develop an effective product includes rent, suppliers, advertising cost, taxes, utilities and so on. The total cost per products to respective business is £ 1.50 for 250 ml bottle. In this respective company needs to increase shipping cost £ 0.25. this will help in increase the total cost of per product to £ 1.75.

All of these feedbacks that is given by teachers, classmates, friends and fellow students is very supportive in enhancing the concept of business, conducting task and activities in effective manner (Sarma, 2017). So I needs to consider all of these feedback in order to modify concept of Gorgeous Gentian Shampoo business. Ask for assignment writing help from our experts!

Presentation of second iteration of business concept

After analysing the feedback and suggestion from teachers or fellow students, I have identified certain changes in the concepts of business model. These changes will help on enhance the overall performance of organisation as well as providing high quality products to potential customers. Once all the changes have been evaluated new and modified business canvas model is developed. I have determined that changes will lead to have positive impact on growth and development of Gorgeous Gentian Shampoo business (Lambert and Davidson, 2013). It has been identified that respective company will be able to gain competitive advantages over other rival companies by offering more natural ingredients. This will help in resolving the hair issues and lead to purple hint on hair. As per the feedback this company needs to add more quantity on gentiant violet while manufacturing shampoo products. This will effective work on darker hair and this company will be able to target customer with blonde and dark hair. Shampoo of Gorgeous Gentian will not cause any chemical damage to consumer hair and this will help in gaining competitive edge over other rival companies in market. Need Assignment Examples?Talk to our Experts!

Modification on the concept of respective business will lead to have impact on value proposition. Gorgeous Gentian Shampoo company needs to use recyclable material for development of product. It is essential that this company providing products with proper labels as well as accurate information about ingredients. With this feedback, warning label is also introduce on the back of shampoo bottle for those customers who are allergic. This will help in developing better relationship with customers as well as creating strong brand image in respective market area (Kurniawan2013). There are major changes in the cost structure of Gorgeous Gentian Shampoo company. In new business concept of respective company it is essential to add shipping cost. The estimated shipping cost per products for Gorgeous Gentian Shampoo company is £ 0.25 and this will increase the overall cost of company.

Business Canvas model

Key partners

  • Distributes and suppliers
  • Bloggers
  • Beauty salons
  • Barclays banks
  • UK testing laboratory partners

Key activities

  • Production and manufacturing
  • Marketing
  • Finance
  • Sales

Value proposition

  • Recycle products bottle.
  • Warning label for skin allergy customer.
  • 100 % natural product for resolving hair problems
  • Unique product
  • Two in one high quality products

Customer Relationship

  • After sales services
  • Social networking sites communication
  • Promotion and discounts
  • Customers reviews

 

Customer segments

  • Customer with blonde and dark hair
  • Men and Women or teenagers with blonde hair
  • Beauty salons

Key Resources

  • Natural resource for product development
  • Human resource personnel
  • Equipment’s
  • Technology

Channels

  • Online advertising through Facebook, twitter and Instagram
  • Delivery channels such as Amazon, eBay, Superdrug, etc.
  • Official website
  • Beauty shops

 

Cost structure

  • Shipping cost
  • Bank loan
  • Promotion cost
  • Suppliers cost
  • Designer
  • Website
  • Staff, rents and other resources cost

Revenues streams

  • Profits through online and offline sales

CONCLUSION

From the above report it has been concluded that it is essential to develop an impactful business concept and idea. Successfulness of an enterprise is completely dependent on the concept in which business is developed. Apart from this business canvas is an effective model that will support in identifying different aspects of organisation which will have impact on organisation.

Read Also - Principal-Agent Contracts Under UK Agency Law

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