Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

InstructionsChoose a real - life company whose business uses innovative methods or technologies.Analyze the business according to the following categories, the system of the SocialBusiness

InstructionsChoose a real-life company whose business uses innovative methods or technologies.Analyze the business according to the following categories, the system of the SocialBusiness Model Canvas. The company should be a relatively small business, preferablylocal or in Canada.Each description requires only 3-5 sentences. You will be graded on the creativity andinsight of your responses. This is an individual assignment.Social Business Model CanvasKey ResourcesWhat resources are needed to run this innovation? What people with which skill sets?What financial support will it need?Key ActivitiesWhat activities and processes are part of acting on this innovation?Partners & Key StakeholdersWho are the key groups who need to be involved for the innovation to succeed? Who inthe company needs to give permission for the innovation to start?Type of Intervention / InnovationHow will the innovation be implemented? Should there be training workshops for staff?Is the innovation a service in the production process? Is the innovation a product itself?CustomersWho are the people or organizations that would pay to deal with the issue that theinnovation addresses? Define the customer value proposition, what customers get fromthe innovation.BeneficiariesWho benefits from implementing the innovation?
Value PropositionWhat impact will your innovation have on the business? What impact will it have onwider society? How will you prove that the innovation has the effects you planned?Cost StructureHow does the spending and financial support for the innovation change as productionscales to higher levels of productivity?RevenueWhat sources of revenue would be affected or created by the innovation?NOTE: Make sure to follow APA format and provide a reference list.HINTS & TIPS!!!!! Dont choose a large company like Apple or Tesla to profile. Or if you do, focus on a singleproduct or service innovation that the company developed. Companies that are already bigenough to be major industry players have too many different operations for an assignment ofthis size to describe them all in any informative detail. Avoid overthinking the analysis. If you find yourself weighing many different arguments andcounter-arguments or trying to jam as many ideas as possible into the small space I give you,step back for a moment. Think about what is truly essential to describe each aspect of how abusiness operates in a community. Cut what you dont need and describe that essence asclearly as you can. Avoid the more stereotypical or trendy product innovations if you can. Yes, I do expect a fewpeople to come up with ideas about crypto-currency, applications of non-fungible tokens, orothers about blockchain technology. But I dont want to see it from everyone. If a trend isalready popular, its too late to jump on it anyway. The people making real money from whatis now a popular trend are the ones who invested long before everyone knew about it.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Small Business Management Entrepreneurship and Beyond

Authors: Timothy s. Hatten

5th edition

538453141, 978-0538453141

More Books

Students also viewed these General Management questions