Tasmanian School of Business and Economics (TSBE) (School) School of Technology, Environments and Design
XBR302 SOCIAL ENTREPRENEURSHIP IN THE DIGITAL AGE
Assessment Task 3: Development and ‘pitch’ of a socially entrepreneurial business model
|Task description||In the final assignment for the unit, you will develop a business model for a NEW social enterprise. There are two parts to this assessment.|
Part 1 – Value Proposition Canvas Development (25%)
Working individually, you will need to communicate the value proposition for your proposed social enterprise. This will involve:
Please note: As part of this assessment task, each student will be required to upload a draft of their VPC (canvas templates only) into MyLO (further information will be provided in the assignment information for this task). Each student will then provide feedback on the VPC submitted by ONE other student.
This is a key milestone activity and failure to complete this will lead to a reduction in marks for this task.
Part 2 – Social Enterprise Business Model Canvas Explanation (25%)
|Working individually, you will develop a presentation to explain your social enterprise idea. Your presentation will need to:|
Please note: As part of this assessment task, each student will be required to upload a draft of their SBMC into MyLO prior to the middle of Week 10. Each student will then provide feedback on the SBMC submitted by ONE other students. This feedback will then be reflected upon in the final SBMC pitch presentation.
Assessment Task 3, Part 1 – Value Proposition Canvas Development (25%)
|1||Undertake basic market research related to your proposed social enterprise|
|2||Analyse possible customer and beneficiary segments for your proposed social enterprise|
|3||Analyse and explain the value proposition for your proposed social enterprise|
|4||Explain how peer feedback helped to refine and improve the conceptualisation of your value proposition|
|Assessment Task 3, Part 2 – Social Enterprise Business Model Canvas ‘Pitch’ (25%)|
|1||Design and analyse a business model for a socially entrepreneurial venture using the Social Enterprise Business Model Canvas (SBMC)|
|2||Explain how peer feedback helped to refine and improve the conceptualisation and pitch of your group’s Social Business Model|
|3||Communicate effectively using both visual aids and writing|
|Task length||Part 1 – 2000 words|
Part 2 – 10-minute individual pitch audio-visual presentation
SOCIAL ENTERPRISE BUSINESS MODEL CANVAS
Slide 1: Title page
Slide 2: TOC
Slide 3: Introduction
This study will highlight the improvement of customer service and revenue structure through the review of Social Business Canvas Model. The entire study will be exemplified through the service of the service organization ‘Children’s Home’. Each element in SBCM will be discussed for the understanding how the service in a service can be developed along with a good structure of profit. The entire study will be reviewed with peers in the group.
Slide 4: Components of Social Business Model Canvas
The social business model canvas can help the Chiefs of Children’s Home to strengthen social activities for child care and meet the social mission of the enterprise. Portales (2019), has discussed innovation through social business canvas model. Employees and community workers can provide children’s care and health related service to the customer parents. Key activities are the services for the care of the children. Target beneficiaries segment are middle-aged parents who want service for children or want to adopt children. Social relationships will be maintained through social media pages and direct interaction with beneficiaries. Cost metrics and KPIs will help to boost service and gain more revenue. The management body of Children’s Home will resolve the problems for the smoothness of the business.
Slide 5: Components of Social Business Model Canvas (Continued…)
Subsidy from Government and some non-government organizations will be financial capital that will be merged with the human resource i.e the employees of Children’s Home to serve in the society and to increase revenue. Channels of communication with customer parents will be Facebook and Instagram platforms for communication to increase customer base. Cost structure will be labor and internet charges. The revenue source will be from the service charge from customer parents who need the child care service of Children’s Home. All the components will strengthen Children’s Home’s service to generate revenue and support its service.
Slide 6: Enactment of the building of SBMC
Employees and community workers will be trained to provide the best service for better sales and revenues. The training of the employees can strengthen the key activity 'child service’ too. Both the provision of adoption of children and hiring the child care will add value proposition. Regular feedback from beneficiaries on the company service will be taken to maintain relationships. Apart from government and non-government organizations’ subsidies a separate fund will be created from the revenue of Children’s Home to support its service. Social media channels and the company's website will be updated for the benefits of the beneficiaries. The new management employees can help in better service and better revenues.
Slide 7: Enactment of the building of SBMC (Continued…)
Of the main two costs of the company, the labor cost is the main cost. Reduction of unskilled workers will save company cost. Skilled employees will be recruited instead of lots of unskilled employees and thus, the labor cost will be saved. Digital channels will be used as much as possible than other modes of communication to reduce cost. Karczmarczyk et al., (2018) have discussed both online and traditional marketing campaign. Both traditional and online marketing campaigns could be conducted to increase the number of customers and boost the revenue. Every year 5% of the revenue from sales will make the financial stability of the company strong. Peer reviewed study helps to learn a lot.
Slide 8: Importance of peer-feedback for refinement of SBMC
With the discussion with my peers, I have learnt the actual model of SBMC. It is my understanding from the learning of the SBMC model that all the elements in the model have contributed to the better service and revenue structure of the company.
Slide 9: Importance of peer-feedback for refinement of SBMC (Continued….)
I noticed that my peers made a little mistake in evaluating the outcomes from the SBMC model but, I, with my knowledge, rectified their mistakes and corrected their evaluation. I reviewed each element in the model and reviewed them for the outcomes of Children’s Home. In this way, I have learnt from my peers.
Slide 10: Conclusion
Strong service is necessary to boost the infrastructure and revenue of a service sector. Children’s Home is required to review its Social Business Model Canvas and utilize its components in an effective manner to provide the best service and gain huge revenue from its beneficiaries. Beneficiaries are to be provided the best service and relationship is needed to be maintained with them in an effective manner.