Reflective Report on Implementation of Business Model Canvas
Table of Contents
Implementation of Technology Advancement for the Enterprise. 4
Evaluation on innovation for providing Benefit to Business and Customers of Enterprise. 5
Analysis of management of Risks associated with the Innovation Process in Enterprise. 6
Introduction
It is vital for developing suitable skills for working in a group on various applications and implements appropriate procedures for developing skills in data. The study provides a suitable overview of the experiences for working as a member in the group on Business Model Canvas application for the designated enterprise. It also offers suitable reflections on the data and skills required for managing poster for the use and develop appropriate solutions for improving existing situation. There is adequate evaluation of advancement in implementation of technologies can provide effective management and create proper innovations for strengthening business. The study is useful for focusing on risks developed by the enterprise for reducing risks in the innovation process for the enterprise.
Discussion
Reflective Analysis on Working in a Group on Business Canvas Model and implementation of learning to forward activities
I have analyzed that working in the group is different from working as a single person within an organization. In this case, I have worked as a group member for developing the whole project and implementing the model for creating innovation in the process. I began working as a group member for handling several operations of the project by implementing business model canvas software. It is an appropriate tool developed for managing various types of services for the business and provides ultimate solutions for focusing on various segments (Kurucz et al. 2017). In the first segment, we had focused on strongly creating customer segments and established strategies for managing various aspects of the customers. I felt that there was sense of collaboration among our members for managing relationships with customers and formulate systematic channels for managing operations.
I think that our group has also created several methods for considering value proposition strategies and develop systematic cost structure for allocating operations. It helps us in managing our resources and evaluates our key resources for managing operations. I felt that there was equal contribution from all the group members for implementing suitable procedures for managing operations and build a suitable business canvas model structure. It has also helped us to implement forward activities for managing overall operations related to the business and develop systematic platform for working as a member (Heyes et al. 2018). In addition, I have recognized that working in- coordination with the group members for building structured business canvas models marinating straight forward solutions.
Reflection on Implementation of Data and Skills for developing Business Canvas model for Enterprise
I have recognized that suitable implementation of data and skills have helped in implementing suitable business canvas model for the enterprise. There has been development of suitable analytical skills by focusing on suitable artificial intelligence platform for managing exact data of customers. I think that there should be identification of basic needs of the customers by creating simple data searching strategies and build an effective platform for creating suitable business model canvas structure. It has helped me in providing good knowledge about exact idea about guiding in handling various sets of data for conducting operations for the model (Schoormann et al. 2018). I have also felt that there was implementation of systematic guidance skills on improving cost structure policies and implement a natural language understanding for implementing the project.
I think that there has to be development of suitable data searching ability and create proper communication among the members for utilizing information related to the content of the business. It provides effective problem-solving skills for managing efficiency in the operations for setting up the canvas and maintains an creative content in the platform. I have analyzed that there should be implementation of more data searching and filtering of searching contents for creating an attractive business model canvas. It will help in improving existing skills and create suitable skills for managing procedures for creating suitable platform in conducting the business model canvas (Hoveskog et al. 2018). I have learnt that effective building of this skill in data and digital skills has provided an exception in implementing superior business model canvas in the future.
Implementation of Technology Advancement for the Enterprise
I have analyzed that implementation of an suitable advancement in technology helps in identifying new opportunities and improves efficiency in existing operations. It provides a suitable platform for marinating effective procedures within the management of the enterprise (Iyer, 2019). I have recognized that there are suitable platforms used for improving innovations in the technology for the enterprise and develop co-ordination among the management.
I feel that utilization of big data analytics applications assists in developing cost reduction strategies improves efficiency in decision-making procedure. It also develops innovation in providing suitable services and products for the enterprise to provide to the customers (Jamil et al. 2019). I think that utilization of this software can be applied to the enterprise for storing large amounts of data for the management and assists in analyzing problems and developing effective decision-making style. [Refer to Appendix 2]
I have recognized that artificial intelligence platforms provide unique opportunities for improving consumer experience and develop systematic workflow for improving efficiency and performance. The development of Artificial Intelligence platform creates enough opportunities for the management of enterprise to reduce weakness in operations and evaluate systematic data (Hoveskog et al. 2018). I think that it provides an innovative platform for increasing technology and improve overall operations within the new enterprise.[Refer to Appendix 3]
I have felt that implementation of Internet of Things application provides better transmission of innovative data for improving current operations and improve overall revenue. It can be implemented by adding external sources to the devices for transmitting the complete information by cloud storage and lead to improvement in the existing management procedures (França et al. 2017). I think that it helps in predicting systematic process for providing support in customer logistics operations and provide netter user experience for the customers. It is an advanced technological platform developed for building efficiency and providing additional advantage in operations for the management of enterprise. [Refer to Appendix 4]
Evaluation on innovation for providing Benefit to Business and Customers of Enterprise
I think that it is vital for developing innovation in appropriate procedures for creating adequate benefits on the business and customers of enterprise. It helps in providing suitable competitive advantage and generates more long term revenue in the market (Lüdeke-Freund and Dembek, 2017). In this case, I feel that there would be utilization of advanced innovation process in creating suitable product and build an effective marketing innovation process. The development of innovation in products carets ample opportunities for the enterprise to present product in an advanced way. I have recognized that it provides an suitable innovation in the minds of customers for presenting product in a differentiated way. It helps in presenting ambience in a unique way for the customers and improves overall experience.
I have also analyzed that innovation in marketing procedures develops positive method for communicating with the customers in a unique process. It helps in presenting features of the products and built strategies for reaching the customers in the market (Crotty et al. 2017). I think that innovation in marketing strategies allows management of enterprise to create brand awareness and create a positive impact on the minds of people. It is an innovative procedure created for inhibiting positive experiences of the customers about the products and builds an effective process for managing process.
Analysis for management of Risks associated with the Innovation Process in Enterprise
I think that risk mitigation process is a vital process developed for managing innovations in the enterprise and improve existing process. It is essential for implementing suitable risk mitigation strategies for reducing higher impact of financial loss on the enterprise and develops superior position in the market. I have recognized that utilization of risk avoidance strategy helps in avoiding various risks concerned with the enterprise for conducting operations. It helps in reducing risks within the management by focusing on sustainable procedures and develops principles for maintaining innovations in the entire process (Kotarba, 2018). I have analyzed that development of risk avoidance approach allows enterprise to reduce risk-averse operations and maintain suitable procedures for creating long- term operations within the enterprise.
I have analyzed that risk avoidance approach provides enough opportunities for decreasing entire risks within the innovation process and build suitable platform. It provides innovation in the risk handling strategies by reducing process and develops the innovation process (Onken and Campeau, 2016). I have recognized that there should be utilization of systematic procedures for developing a suitable innovation process by creating suitable communication among one another within the management. It provides an innovative strategy for avoiding risks for improving innovation process in modern technology and manages operations.
Conclusion
It can be stated from the above study that there has been development of suitable procedures for managing innovation process for improving the business model canvas application for the enterprise. The study provides an reflective analysis on implementation of appropriate advancement in technology and develops an innovation process for creating long- term benefits on the minds of customers. I think that development of strategies provides ample opportunities for managing risks within the operations and create an good position in the market. It provides depiction of useful strategies for innovating technologies and increasing effective coordination within the management for the enterprise.
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Heyes, G., Sharmina, M., Mendoza, J.M.F., Gallego-Schmid, A., and Azapagic, A., 2018. Developing and implementing circular economy business models in service-oriented technology companies. Journal of Cleaner Production, 177, pp.621-632.
Hoveskog, M., Halila, F., Mattsson, M., Upward, A., and Karlsson, N., 2018. Education for Sustainable Development: Business modelling for flourishing. Journal of Cleaner Production, 172, pp.4383-4396.
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Iyer, V.G., 2019. Strategic Environmental Assessment (SEA) Process towards the Sustainable Design and Construction of Computer, Communication, Network Engineering, Machine Learning and Artificial Intelligence Systems. DEStech Transactions on Social Science, Education and Human Science, (iceme).
Jamil, G.L., Brioñes-Peñalver, A.J. and de Lema, D.G.P., 2019. Reflecting on Industrial Business Models: A History of Tradition, Challenges, and Potential Innovations. In Best Practices in Manufacturing Processes (pp. 211-237). Springer, Cham.
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Appendices
Appendix 1: Business Canvas model
(Source: https://www.google.com/url?sa=i&url=https%3A%2F%2Fcanvanizer.com%2Fnew%2Fbusiness-model-canvas&psig=AOvVaw1XZRXlFRrN4a32yZrNuLnD&ust=1589356616486000&source=images&cd=vfe&ved=0CAIQjRxqFwoTCKDNpPbsrekCFQAAAAAdAAAAABAM )
Appendix 2: Big Data analytics
Appendix 3: Artificial Intelligence System
(Source: https://www.google.com/url?sa=i&url=https%3A%2F%2Fchatbotsmagazine.com%2Fan-artificial-intelligence-system-that-works-in-real-time-without-machine-learning-or-deep-learning-c90f5e79e9d2&psig=AOvVaw0cBvGXYzSgxemx0ToquQSW&ust=1589362506235000&source=images&cd=vfe&ved=0CAIQjRxqFwoTCLCY8u6CrukCFQAAAAAdAAAAABAO )
Appendix 4: IOT
(Source: https://www.google.com/url?sa=i&url=https%3A%2F%2Fdata-flair.training%2Fblogs%2Fhow-iot-works%2F&psig=AOvVaw0NmvhqGNcrYpN70oBfmhpL&ust=1589362568502000&source=images&cd=vfe&ved=0CAIQjRxqFwoTCMDD65CDrukCFQAAAAAdAAAAABAD