Business Model Assignment: Idea Of Home Delivery Of Organic Frozen Food

Question

Task: Write a well-research business model assignment discussing the new business idea of home delivery of organic frozen food and develop a business model canvas for your business idea.

Answer

Introduction
The below report on business model assignmentseeks to offer valuable insights into the corporate concept of starting up an innovative business as a home delivery frozen vegan food service. This operation is based in the United Kingdom and delivers organic frozen food to consumers. Thisreport concerns about the formation of the business by primarily stating the essential need of the customers and business idea by first mentioning the basic needs (Bagnoiet al., 2016). The study presented in this business model assignment also introduces a proposedbusiness plan and strategy, which explains the key interrelationships to the growth of the organisation. In addition, the analysis would examine the success factors and the serious risks associated with the project. The study ends simultaneously with anachievability evaluation of the business plan.

Customer market problems
At present, the foodservice corporation is overwhelmed with nutritional concerns. Many factors are relatively disadvantageous to human life. Frozen vegan food has the added bonus of strengthening immune independent of the restrictions of the diet.Frozen Vegan food comes with the purest natural ingredients, less animal protein sources and gluten-free that offers a healthy diet for humans and also helps to improve human immunity.However, it is beneficial for singles, bachelors, party and family with hassle-free ordering services (Mahmoodjanlooet al., 2020). This business plan will definitely help the customers to order the frozen vegan food, which facilities home delivery service. This food will help the customers to overcome their needs and requirements.

Customer benefits as a result of the innovative idea
Developing a home delivery service of veganfrozen food will facilitate the customers to order this hygienic and readymade food at any point of time on every occasion. This vegan frozen food is also very vital for the customer’s health as this frozen food comprises the various healthy ingredients and gluten-free. This frozen vegan food also has a range of health advantages, including better weight control and defence against some chronic diseases is correlated with vegan diets. The report provides the consumer and his health with a balanced vegan meal plan and company. For various purposes, including ethical and moral beliefs, people tend to follow Vegan foods. Others may opt to become vegans, as plant-based diets are believed to contain less greenhouse gas emissions and consume less natural resources.Vegan diets have demonstrated to enhance heart and blood sugar management and promote weight loss. Therefore, these are more benefits for the customers towards this planning this innovative business idea.

Evaluation of the innovative business model
Herein business model assignment, the nine elements are explicitly described in the suggested business model as an operative approach for the accomplishment of the business plan.

i. key partners are mainly the suppliers and service providers of the food processing equipment and raw required for developing the frozen food.
ii. Main activities of this product are ingredients, raw materials, cooking equipment’s and providing customers’ services for delivery purposes.
iii. The value proposition is to provide efficient home delivery facilitation as convenient frozen food.
iv. The consumer segment is valuable for vegan frozen food and the outlets used are supported through both conventional and digital advertisements, such as online and social media.
v. The model is intended to sustain a good relationship with consumers by offering a good level of service through quality vegan food and home delivery.
vi. Channels for both online and digital platforms of the business strategy Virtual marketing.
vi. Key resources are the cook, delivery personals and the freezing equipment.
vii. Revenue stream is accessible through selling the frozen vegan foods and fees of the services, raw material and other equipment’s depending on the number of order for delivery to customers.

(Source: Winterhalteret al., 2017)

Key interrelationship in the business model for supporting the business success As per the statement of Bagnolief (2018), the main elements of a business model are strongly interrelated. The output of the group is the result of the integration of all nine elements. Basically, two sides of the coin are the main collaborators and key capital. The service providersand suppliers of the resources and raw materials are the main companions and the resources. The main practices introduced in the model developed in this business model assignment include home delivery of frozen food and innovating a vegan food business which is gluten-free and has less animal protein (Bailey-White, Stewart & Shaw, 2017). This also includes the delivery services in sort time basis as the food is ready to eat and froze. The value proposition of the company enterprise lies in these operations, which include cooking the food, getting suppliers for the key ingredients, cooking equipment and delivery services (Bailey-White, Stewart & Shaw, 2017). The value proposition of this new food concept has been established through convenient innovation based on the benefits of the customer’s health. There is also a need for promotional activities through various social media channels and platforms for promoting the business a wider audience. This business plan also includes an efficient investment strategy (Oladepo&Abimbola, 2015).

Which success factor is needed to be managed by the organisation mentioned in this business model assignment?
The organisation’s brief overview of success factors are as follows:
Customer-centric approach- The corporate strategy is deeply concerned with its customer’sapproach, and thus has built a roadmap for sustainability targeted at addressing their food requirements and needs. In addition, the corporation is still very worried about its workers’ growth (Yeoh&Popovié, 2016). Strategic focus-The Company is competitive in this respect in a sustainable way with greater advantage, and high priority are given to its own core values. The company ensures that every step towards organisational growth objectives is properly measured.

Workforce motivation- Theorganisation is deeply concerned to offer workers with huge growth and development opportunities. In addition, the company focuses on awards and recognition in order to promote the commitment of employees for better conduct.

Market requirement-Thefood sector has evolved steadily over time, and the business model has tremendous potential for commercial growth (Tickle, Man & Board, 2016).

Business idea-In terms of innovation, the organisational business concept is particularly distinctive (Begenau, 2018). The approach is highly new and has not been discussed by many organisations. There is the reason for the business on frozen vegan food and home delivery system applied here. Efficient team- The organisation is made up of an outstanding team of cook and other operating staffs, suppliers and managers who constantly concentrate on supplying their customers with high quality frozen vegan food services (Han, 2017).

Risks and assumptions for the organisation
The business strategy entails many risks, this risk factors are as follows:
High competition risks- The food delivery company consists of a various different predominant company that includes parcel Box, Mindful chef, etc. But this organisation with the new innovative concepts of frozen premade vegan food is new in the market and can be very helpful for the company’s growth (Sadgrove, 2016). But still, there are some huge competitors who can deploy this innovative idea and conquered the market place. Operational risks- This innovative idea of frozen vegan food home delivery service examines in the segments of business model assignment is good, but for maintaining the concepts of a frozen system, there is a need for huge operational staff. If in case there is any power failures or any misconducts, the reputation of the organisation can be detained (Begenau, 2018). Therefore, high-performance staffs are required for operating the foods until it gets delivered.

Quality risks- As this innovative food item is new in the market, and therefore, the quality of the food products and taste is very important. Customer attraction is the most crucial propaganda for the company for a kick start (Sadgrove, 2016). Therefore, maintaining the quality of the food product and good delivery services are essential.

Reputational risks-A whole new idea can lead to several chances of failure in the production process. This business idea cannot be overlooked in this way (Oladepo&Abimbola, 2015). Such incidents can, however, seriously harm the reputation of the company through real-time customer service. In addition, a continuous repetition of this mistake could permanently lead to an un-reputable loss of business behaviour (Begenau, 2018).

Evaluation of the feasibility of the business idea
Product Feasibility- As this is a new innovative food product and emerging in the market of UK, and there is a rising demand of vegan food, the product has high feasibility in increasing performance in time. Financial Feasibility- As this is vegan food with gluten ad animal protein-free, therefore, it has low production cost which implies that the product has large profit scale on its rise and hence ensures positive financial feasibility (Bini et al., 2018).

Conclusion
From the above report on business model assignment, it can be concluded that the innovative idea of frozen vegan food and home delivery service can be properly implemented and conducted in an effective way. Following all the strategies mentioned above can help any organisation to cope up with all the market risk and improve the business in an efficient pattern. However, it poses some challenges as being a brand new product. In the conceptual development stage, the business plan may have some chances of failure. It has risks to quality as quality is a core component of companies that drive an organisation’s growth. Therefore, it is necessary for the organisation to gather all the knowledge regarding quality enhancement.

Reference
Bagnoi, Gariattl, A., Massaro, M., Val Mas, F., Fascnetto, M &Arascnetto, O., (2016). yvinning business Models tor the Ath Industrial Revolution. Theory and Applications in the Knowledge Economy, 59.

Bailey-White, S., Stewart, R. A., & Shaw, S., (2017). Librarians: Key Partners in a State-Wide Book Distribution Outreach Program. PNLA Quarterly, 87(2).

Begenau, J., (2018). Capital requirements, risk choice, and liquidity provision in a business cycle model. Business model assignmentRisk Choice, and Liquidity Provision in a Business Cycle Model (March 6, 2078).

Bini, L., Simoni, L., Dainelli, F., &Giunta, F.,(2018).Business Model and Non-Financial Key Performance tndicator Disclosure. Journal of Business Models, 6(2), 5-9.

Han, S.,(2017). Feasibility and Marketing Channels of a Smartphone Application that Brings Nondestructive Techniques to Job Sites.Mississippi State University.

Oladepo, O &Abimbola, 0. S.,(2015). The influence of brand image and promotional mix on consumer buying decision-a study of beverage consumers in Lagos State, Nigeria. British journal of marketing studies, X4), 97-109.

Sadgrove, K., 2016. The complete guide to business risk management.

Winterhalter, S., Weiblen, T., Wecht, C.H. &Gassmann, O., (2017). Business model innovation processes in large corporations: insights from BASF. Journal of business strategy.

Mahmoodjanloo, M., Tavakkoli-Moghaddam, R., Baboli, A., &Jamiri, A. (2020). A multi-modal competitive hub location pricing problem with customer loyalty and elastic demand. Computers & Operations Research, 105048.

Appendix