XBR302 Social Enterprise Business Model Canvas Assessment Answer

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Question :

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 descriptionIn 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:
  1. Identifying an existing social issue relating to one of the United Nations Sustainable Development Goals (UNSDGs)
  2. Explaining the importance of this issue, drawing upon relevant external sources to illustrate its scale and impact
  3. Conducting some market research to determine what other approaches have been used to address this issue
Once you have completed these steps, you can then start to develop your ideas for your own social enterprise. To do this, you will be provided with a design template that will ask you to:
  1. Provide a short description of your proposed enterprise, including its social mission and financial objectives
  2. Provide a summary of the characteristics of a key customer AND a key beneficiary group
  3. Complete TWO (2) Value Proposition Canvases (VPC) for your proposed social enterprise. One VPC will relate to a key beneficiary segment, whilst the other will relate to a key customer segment
  4. Reflect upon peer feedback provided prior to submission
A template document will be provided in MyLO which will provide prompting questions, as well as the template for the VPCs.
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:
  1. Explain each of the components of the SBMC in relation to your enterprise’s social mission and revenue generation activities
  2. Describe, in a clear and specific manner, how each building of the SBMC will be enacted, with justification and/or evidence provided where relevant
  3. Explain how peer feedback received helped you to refine your SBMC
Your presentation will need to be pre-recorded into a file format that can be uploaded into MyLO, and include both written information and voice narration.Information regarding how to effectively pitch to an audience will be provided in Module 3 in MyLO.
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%)
1Undertake basic market research related to your proposed social enterprise
2Analyse possible customer and beneficiary segments for your proposed social enterprise
3Analyse and explain the value proposition for your proposed social enterprise
4Explain 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%)
1Design and analyse a business model for a socially entrepreneurial venture using the Social Enterprise Business Model Canvas (SBMC)
2Explain how peer feedback helped to refine and improve the conceptualisation and pitch of your group’s Social Business Model
3Communicate effectively using both visual aids and writing
Task lengthPart 1 – 2000 words
Part 2 – 10-minute individual pitch audio-visual presentation
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Answer :

SOCIAL ENTERPRISE BUSINESS MODEL CANVAS

Slide 1: Title page

Slide 2: TOC

Slide 3: Introduction   

  • The study will highlight the improvement of service and revenue structure through SBCM of Children’s Home
  • Discussion on every element in SBCM
  • Beneficiary’s service and relationship with them are emphasized
  • Service training for improved service and sales
  • Benefits from peer-reviewed study

SN

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 

  • Social model canvas of Children’s Home to meet social mission
  • Key activity ‘service’ through community workers will develop service and generate revenue.
  • The excellent and prompt service will support the service and revenue (Omar et al., 2016)
  • Middle aged parents are the target beneficiaries
  • Relationship with beneficiaries will make the service and revenue strong
  • Social media pages for customer relationship
  • The solution of each problem with the help of the management body of Children’s Home. 
  • For measuring cost the matrix Gross profit, net profit matrixes will be followed
  • For performance of employees KPIs will be maintained. 
  • Social media channels will be used

SN: 

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…)

  • Financial capital from Government and non-Government subsidies will strengthen the service revenue structure (Das and Swain, 2018)
  • Social media platforms will strengthen customer relationship for better service and better revenue
  • Cost will include labor and digital technology charge
  • Only revenue source from child care service  

SN: 

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

  • Training to social workers for the best service for strengthening service and revenue (Tippa  and Manne, 2018)
  • Beneficiaries’ relationship through regular feedback on social media will help in better sales of service
  • Both the child care service and adoption of child will foster value proposition to support mission of the company and revenue
  • Separate fund to strengthen financial capital of the company 
  • For problem solution skilled management employees will be hired from external market
  • The Gross Profit matrix along with the Return on Investment ratio will be calculated to understand the performance of the company

SN

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…)

  • Reduction of unskilled social workers to reduce cost and increase revenue
  • Recruitment of skilled workers to support service of the company
  • More use of digital channels for better relationships and service (Ziliani and Ieva, 2016). 
  • Traditional and online campaign to increase sales and boost the revenue. 
  • Every year 5% of revenue will be set aside for financial capital
  • Benefits from Peer reviewed study

SN

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

  • Proper structure of SBMC in Children’s Home
  • Opportunity to understand actual model of SBMC (Michalik et al., 2018)
  • It is understood that the each components of SBMC model has its own special purpose

SN

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….)

  • There was a shortfall in the proper model of SBMC from my peers
  • I have developed the SBMC model from my own knowledge
  • Self-learning has been helpful through peer-reviewed study (Platts-Mills, 2018)

SN

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 

  • Social Business Model Canvas helps to boost the products, service and revenue of an organization.
  • Beneficiaries and relationship with them are two of the important factors in a service sector
  • Social media pages are effective both for service and for healthy revenue structure
  • Training required to be developed for healthy service and revenue. 

SN

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.