Module $1-3$ In Class Assessment

Students will engage in a hands$-$on workshop where they apply strategic planning concepts and business model canvas elements to develop a comprehensive strategy for a fictional business. By the end of the class, students will have collaboratively created a strategic plan and submitted their work for grading.

Demonstrate knowledge of business model canvas

Demonstrate understanding of Strategic Planning Process

Scenario: Gourmet Meal Kit Delivery Service

Emma, a culinary enthusiast with a background in nutrition, wants to start a gourmet meal kit delivery service that caters to busy professionals and health$-$conscious families. Her business idea revolves around providing high$-$quality, pre$-$portioned ingredients along with easy$-$to$-$follow recipes that allow customers to cook restaurant$-$quality meals at home. Emma$$s unique selling point is the focus on fresh, organic, and locally$-$sourced ingredients, with options for various dietary preferences such as vegan, gluten$-$free, and keto.

With an initial investment of $$200,000,$ Emma aims to launch her service in a metropolitan area with a high concentration of working professionals. She envisions partnering with local farmers and artisanal food producers to ensure the highest quality ingredients. Emma also plans to offer a subscription model, where customers can choose from weekly, bi$-$weekly, or monthly deliveries.

However, Emma is aware of the competition in the meal kit industry, including well$-$established companies and newer, niche players. She wants to differentiate her business by emphasizing sustainability, such as using eco$-$friendly packaging and reducing food waste by providing just the right amount of ingredients. Emma also wants to incorporate a strong digital presence with an easy$-$to$-$navigate website and a mobile app for managing subscriptions, choosing meal plans, and tracking deliveries.

Instructions:

Brainstorming:

As a group discuss the scenario and identify key business model canvas elements. Focus on $5$ elements that you believe are crucial for Emma$$s business.

Develop the Business Model Canvas:

Complete the five selected elements of the business model canvas. For each element, write a paragraph explaining why you chose the element, and how it is strategic based on the available information in the scenario and through your research.

Strategic Planning Process:

Consider the steps in the strategic planning process. Which step do you think is missing based on the scenario and the work you have done in the business model canvas? Identify the missing steps, and rank them in importance, providing $1-2$ sentences as to why you think they are important and what Emma$$s next step should be$.$