BIZ BUZZ
A FINANCIAL VISION
Business Model Canvas
Entrepreneurship is the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. When its combined with land, labor, natural resources and capital can produce profit that leads to growth of the business itslef. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nation's ability to succeed in an ever changing and increasingly competitive global marketplace. In the same thought, we the students of SRM- B School are given the opportunity to develop our entrepreneurship skills and develop a vision to a business venture of our own with its uniqueness. This activity, Business Model Canvas, was conducted in the Entrepreneurship Development lecture conducted by Mrs. Prabhadevi.
The Business Model Canvas, is a strategic management and entrepreneurial tool which allows you to describe, design, challenge, invent, and pivot your business model. It is a visual chart with elements describing a firm's value proposition, infrastructure (Key Partners, Key Activities & Key Resources), customers(Customer Segments, Channels, Customer relationship), and finances (Cost Structure and Revenue Streams)
The students were divided in to teams of 5-6 members where they had to develop a genuine business idea feasible to start in the view of the current trend and economic condition. Each team was given 2 hours to discuss and create the business model canvas for their respective ideas. At the end of the activity evry team presented their idea explaining their entrepreneurial abilities to start up the business. The different business ideas ranged from organic vegetables to restaurants and online shopping. The following is the brief about the ideas generated in the activity:
shopup.com
( Presenters- Rhytika, Angel & Kavya)
It is an online textile store suitable for both adults and children. This business model is a virtual market which creates easy payment medium through cash on delivery and online payment. They also concentrate on obtaining high quality materials from wholesalers and reputed brands.The tie up with DHL for fast delivery and Paypal for online transaction gives the customers an assured and safe online shopping experience
THAT MOVING COTTAGE
(Presenters- David Doss, Nikhita Sreekumar, Gopalakrishnan, Lakshmi. V & Satish Kumar)
This business idea is about providing the vacationers a home away from home experience. It is a trailer which is converted into a mini home which can be rented for vacations. It is a fully equipped with home appliances, entertainment,bed & bathroom and other infrastructure( wifi, cycle provisions,etc) to provide the customers all the needs of a home. It can be customized according to the customer preference and provides ultimate safety measures through GPRS tracking and 24*7 helpline service. The tie ups Club Mahindra and Government provides the customers a hassle free parking allowance for the trailer. They can attach the trailer to their vehicle and use it for living without the trouble of booking hotel rooms, food scarcity and lack of entertainment . The customers targeted here are mostly families, college students, newly weds and adventure enthusiastic. With the help of direct contacts, travels tie ups, online booking and mobile application, the product can be channeled to the customers more efficiently. The rental are provided on package basis and includes facility segmented into Standard, Premium and Luxury. It is a first time in Indian market and its unique factor are the product and idea itself.
$ DOLLAR SHAMPOO
(Presenters- Sharon Ranita,Aarthy Kannan, Naina Rajani & Bhanumathi)
It is shampoo production business motive to make the product reach the poor people with good quality at lower cost. The product varies from daily shine to split ends rescue. They focus on good quality and consistency in it. With effective advertisement through TV, newspaper and radio they plan to reach all segments of customers faster and cost effective. Attractive packing and the convenience of the cost is what makes it efficient than other shampoos. They plan to start the business in Tamil Nadu, observe the sales for the product and then expand it to other states
LED - LIGHTING EVERY DREAM
( Presenters- Varsha, Rishika, Kavitha, Manju & Lakshmi)
Lighting every dream is a business idea generated to bring innovative methods on decorations for events. It is an idea of bringing in decorations and lighting together with the help of led lights and design architecture. The model will have a fake wall at the behind and a light proof sheet in the front in which the designs are made, in between these two elements is the LEDs of different or the same color to protrude the design. This model is flexible according to the event and also can be easily made and transported with less cost.
GRAND SUCCESS
(Presenters- Nikhat, Nivetha, Deepika, Shwetha and Aishwarya)
It is a service providing business for wedding essentials. They focus on providing every bride a best service for their special day all under one roof. The services provided are Make up Artists, Photographers, Decorations and Music Band. They provide the best people in the town according to the customer needs and budget. The target customers are the bride and groom family segments of the upper middle class and upper class. They provide the services in packages such as Gold, Silver and Platinum.
AUTOMATIC IRON
(Presenters- Mangai. Nitya, Karthick, Vinod & Sudarshan)
This business is to produce an automated ironing box. This concept is similar to an induction stove where the design is suitable for home use. Its easy operation with powerful steamer makes it stand out of other usual products. It has auto shutdown for safety with beep sound. I weighs 13.5 kg with board size of 65*24 cm. It is an unique product where the customer need not run the iron box over the clothes but instead just place the cloth in the automatic iron and it irons and clears all the creases by itself and provides you with a clean crisp ironed clothes. They plan to reach the customers through Facebook, websites and product exhibition in malls and other departmental stores.
ORGANIC FOOD CHAIN
(Presenters- Joy Mercy, Abhinaya, Visesh, Ganesh & Elodie)
Its a very innovative idea where the business runs through out the supply chain. The business is started from agriculture, transportation, retailing and organic restaurant business. This shows that the business does not involve any intermediaries and they are the only key partners. They also sell organic vegetables and fruits, manure which they get directly from the agriculture business. The same is used in the restaurants too. The marketing strategy revolves around selling the organic foods at the same price as that of the normal foods. They achieve the economies of scale through cutting down the intermediaries and strategic pricing.
bigfatholidays.com
(Presenters- Sanjana, Maalika, Srinidhi, Keerthana & Ramya)
Its again a service provider with main operations of tours and travels. They are a online based company which provide holiday packages. They are available through phone, website and mobile application. They mainly develop their networking since they depend a lot on the direct contact they can create o make the business running. The target customers of this business includes all age groups, especially focusing on the customers above 18 yrs and above. The USP of the business is that they arrange pick up and drop service along with the tour packages. The can customize their packages and have them picked from home to the destined travelling mode and drop off back home at the end of the tour.
F & F RESTAURANT
(Presenters- Sireesha, Shruthi, Hrisha & Sherin))
F&F (Friends & Family) restaurant is an service provider whose motto is value, taste , quality and customer satisfaction. They provide service such as tiffin items, lunch, combo meals and also a timely home delivery. They are located in the Ambattur area with an investment of Rs. 20 lakhs and a bank overdraft of Rs. 10 lakhs initially. They concentrate of different customers such as school children, college students, workers ,families, professional. The advantage of this business will be through word of mouth, pamphlets, social media. They believe in improvement through customer feedback.This activity did really bring quite few innovative and achievable ideas.
The curriculum moves the students mind to think beyond the theory and put the thoughts into a practical business success.