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Marketplace > Republic Polytechnic > Statistics > DNM > T602 CREATIVE ENTERPRISE
New media
Daniel lim

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About this Document

IP, business model canvas, effective communication, business proposal, product feasibility, pitching etc
New media
Daniel lim
Test Prep (MCAT, SAT...)
75 ?




Popular in New media

Popular in Statistics

This 18 page Test Prep (MCAT, SAT...) was uploaded by JOREEN on Friday August 28, 2015. The Test Prep (MCAT, SAT...) belongs to DNM at Republic Polytechnic taught by Daniel lim in Summer 2015. Since its upload, it has received 63 views. For similar materials see New media in Statistics at Republic Polytechnic.




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Date Created: 08/28/15
Creative enterprise notes What is business enterprise What is IP It is any type of operation that involve in providing goods services while earning a pro t Intellectual property refers to creative minds like artistes and business owners being granted certain exclusive rights to assets for a speci ed duration Business owners trade marks Creative artist copyrights on musical literary etc Innovators patents trade secrets con dential info IP is an intangible asset to a company It gives business partners and nancial institutions the con dence to invest in or collaborate with the organisation In addition to protecting their creation business owners can maximise the value of their IPs in many ways They can franchise license out or transact their IP comm node Protects the A sign used by Monopoly To protect Some expression of a person in right given by designs for information or ideas the course of government industrial use quotsecretquot that is business or to owner of important to The right to trade to invention to Features of the business reproduce distinguish his prevent others shape and is not publish goods or from using configuration known to the perform services from copying or pattern or public communicate those of other making the ornament and adapt traders invention applied to an Confidential one39s work article by information an industrial Bundle of process rights comm node secret All original Registered Newly ICOHIC Con dept39o39 content from trademark of invented ChCIfOC ter 39nformc on script to audio movie title digital imaging 1999 that has and visual process to commercual recording etc create SFX VO39Ue Business canvas What value do we deliver to the customer Which one of our customers problems are we helping to solve what bundles of products and services are we offering to each segment which customer needs are we satisfying what is the minimum viable product What key actiwties do our value propositions require Our distribution channels Customer relationships Revenue streams Who are our key partners Who are our key suppliers Which key resources are we acquiring from our partners How do we get keep and grow customers Which customer relationships have we established How are they integrated with the rest of our business model How costly are the For whom are we Creating value Who are our most important customers What are the customer archetypes Which key activities do partners perform What key resources do Our value propositions require Our distribution channels Customer relationships Revenue streams through which channels do our customer segments want to be reached How do other companies reach them now Which ones work best Which ones are most costefficient How are we integrating them with customer routines What are the most important costs inherent to our business model Which key resources are most expensive Which key activities are most expensive For what value are our customers really willing to pm For what do they currently paygt What is the revenue model What are the pricing tactics 9 components in business canvas The canvas contains nine components that collectively integrate to form the entire business model including the following Value Proposition What unique value does a company s product or service create for customers Customer Segments What groups of customers is a company targeting with its product or service Customer Relationships How does a company plan to build relationships with the customers it is serving Customer Channels What channels does a company use to acquire retain and continuously develop its customers Revenue Streams How is a company pulling all of the above elements together to create multiple revenue streams and generate continuous cash ow The components listed above represent the right side of the canvas and combine to form the revenue generating mechanism of the business Listed below are the components that combine to form the cost structure of the business on the left side of the canvas Key Partnerships Identi es strategic and cooperative partnerships the company forms to increase the scalability and ef ciency of its business Key Resources Lists assets and knowledge the company possesses that enables it to deliver its value to customers in ways that other companies can t Key Activities Summarizes activities the company engages in that enables it to execute its strategy and establish a presence in the market Cost Structure measures the costs associated with each of the above elements and determines the components that can be leveraged to reduce costs Business model plan A business plan is where you set down all these variables in a strategy or plan of action focusing on the business model and builds upon it A business model is how you provide value to your customer or how your business makes money Non verbal comm Appearance Voice tone pitch Body language eye emphaSiS etc contact Time Space touch smell etc What is UVP It is a shorts summary that encompasses the service that you provide and how you differentiate yourself from other competitors Value proposition Getting the job donequot Value can be created simply by helping a customer get certain 0bS done RollsRoyce understands this very well its airline customers rely entirely on Rolls Royce to manufacture and service their iet engines This arrangement allows customers to focus on running their airlines In return the airlines pay Rolls Royce a fee for every hour an engine runs Duly Design is an important but dilticult element to mea sure A product may stand out because of superiOr design In the fashion and consumer electronics industries design can he a particularly important part of the Value Proposition Brandstatus C ustomers may nd value in the Simple act ol usmg and displaying a specilic brand Wearing a Rolex watch signifies wealth for example On the other end of the spectrum skateboarders may wear the latest quotundergroundquot brands to show that they are quotinquot Prloo Offering similar value at a lower price is a common way to satisfy the needs of pricesensitive Cus tomer Segments But lowprice Value Propositions have important implications for the rest of a busi ness model No frills airlines such as Southwest easylet and Ryanair have designed entire busmess models specrfically to enable low cost air travel Another example of a price based Value Proposi tion can be seen in the Name a new car desrgned and manufactured by the Indian conglomerate Tata Its surprisingly low price makes the automobile affordable to a whole new segment of the Indian population Increasingly free offers are starting to permeate various Industries tree offers range from free newspapers to free e mail free mobile phone services and more see p 88 or more on FREE Cost reduction Helping customers reduce costs is an important way to create value Salesforcecom for example sells a hosted Customer Relationship management CRM application This relieves buyers from the expense and trouble of having to buy install and manage CRM software themselves Risk reduction Customers value reducing the risks they incur when purchasing products or services For a used car buyer a oneyear service guarantee reduces the risk of postpurchase breakdowns and repairs A servicelevel guarantee partially reduces the risk undertaken by a purchaser of outsourced IT services Mauib i ly Making products and services available to custom ers who previously lacked access to them is another way to create value This can result from business model innovation new technologies or a combina tion of both NetJets for instance popularized the concept of fractional private jet ownership Using an innovative business model NetJets offers individu als and corporations access to private jets a service previously unaffordable to most customers Mutual funds provide another example of value creation through increased accessibility This innovative financial product made it possible even for those with modest wealth to build diversified investment portfolios Malenausability Making things more convenient or easier to use can create substantial value With iPod and iTunes Apple offered customers unprecedented conve nience searching buying downloading and listen ing to digital music It now dominates the market SWOT analysis A well planned method that is use to evaluate the strengths weakness opportunities and threats that could involve in a business venture Strengths Internal Elements Weaknesses Internal Elements l owOrIddassproductstyllng Exuemelycompellingpndng Largestorespmvidespaoem showcasepmductslnvlgnettesand canysupportlnglnvenmry Boardproductassortmentlnduatg bothhardllnesandsoftlines Opportunities External Elements Threats External Elements Softeconomymalneslowpnce fumltureevenmoreappealhgto commas oMany39tradmonal39mnimre retailers havegoneoutotbuslness Types of risk growth Team experience and depth Market and opportunity Competition Financial Market entry strategy Political and economic Technology Operational Environmental Partnership alliance Pave way for new target markets alliance companies bene t from the ability to offer more products services to attract customers Increase sales per Current customers By having discounts for bqu orders or through membership card Introducing new products Constantly having updates such that product and company is fresh as customers wants new content nding out what people want through feedbacks Talent acquisition Hiring interns such that HR cost is lower Also purchasing other companies to expand its operation to enter into new markets and expand product line Types of funding Finance company bank Companies that lend SS and are paid back with interest over a period of time Family and friends government grants Crowd funding Kickstarter have people to pledge for your product Venture capitalist Group of investors mostly interested in companies that have solid track record Angel investors Providing capital in exchange for ownership stake Finance terms Gross pro t aka net sales the difference between sales and the direct cost of making sales Gross income total money earned by a business before expenses are deducted Fixed Assets physical asset used in the running of a business Fixed cost a cost that cannot be directly attributed to the production of a service Debit on the left hand side of a journal representing the expence Credit a lending term used for when a customer purchase something and pay back at a later date Net Income total money earned after tax and deductions Net pro t aka bottom line total gross pro t minus all expenses Net worth aka net assets total assets minus total liabilities Overheads xed cost such as rent marketing utilities administrative costs Variable interest rate when the interest rate of a loan changes with market conditions Variable cost cost that change depends of the number of goods produce demand of product Social media platforms facebook Linked p Js 4 JL J I Facebook 3 eBizMBA Rank 900000000 Estimated Unique Monthly Visitors Quantcast Rank 2 Alexa Rank November 1 2014 The Most Popular Social Networking Sites eBizMBA 2 lTwitter 12 eBizMBA Rank 310000000 Estimated Unique Monthly Visitors Quantcast Rank 8 Alexa Rank November 1 2014 The Most Popular Social Networking Sites eBizMBA 3 linkedln 18 eBizMBA Rank 255000000 Estimated Unique Monthly Visitors Quantcast Rank 9 Alexa Rank November 1 2014 The Most Popular Social Networking Sites eBizMBA 4 Pinterest 22 eBizMBA Rank 250000000 Estimated Unique Monthly Visitors Quantcast Rank 26 Alexa Rank November 1 2014 The Most Popular Social Networking Sites eBizMBA 5 Google Plus 30 eBizMBA Rank 120000000 Estimated Unique Monthly Visitors Quantcast Rank NA Alexa Rank November 1 2014 The Most Popular Social Networking Sites eBizMIBA 6 Tumblr 34 eBizMBA Rank 0000000 Estimated Unique Monthly Visitors Quantcast Rank 34 Alexa Rank November 1 2014 Social media httpwwwsciencedirectcomsciencearticle piiSlO94996811000041 10 laws for social media httpwwwentrepreneurcomarticle218160 Importance of nancial planning httpsmallbusinesschroncomimportance nancialplansmallbusiness4713htm pitch httpwwwentrepreneurcomarticIe201826 httpwwwforbescomsitesmattsvmonds 201310247tipsforpitchingvour entrepreneurialideawhetherto angelsor sharks


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