Assignment - Applying the Business Model Canvas to Hueforbi
Apply the business model canvas method to Hueforbi. Given that the assignment should be short you are not required to address all elements of the canvas. However, in any case you should focus on value propositions, channels, and customer segments. Add as many additional canvas elements as you like and spell out how you see the business model of Hueforbi develop.
My answer:
Hueforbi is a social enterprise selling beanies made from leftover wool and helping the people of the street.
Applying the business model canvas method to Hueforbi:
Value propositions: This is what Hueforbi offers to its customers (products or services). Customers get "beanies" which are produced using the leftover wool. Apart from beanies, customers find this product valuable as this contributes in helping the community and is environment friendly (as it is made up of recycled material).
Customer channels: These are channels through which products reach customers. For Hueforbi, mouth to mouth publicity is a way of reaching out to customers and beanies are handed over to customers by meeting them. She can consider scaling up her business by reaching to customers via other platforms like web store or partnering with local stores.
Customer Segments: These are the people to whom Hueforbi sells or donates its products. Hueforbi targets homeless people and private people. Apart from these two customer segments, Rene can think of targeting schools, companies etc.
Customer Relationship: She engages with her customers through her Facebook page.
Key partners: Hueforbi has partnered with an organization which provides newspaper to homeless people.
Key Activities: This includes networking with different people, keeping Facebook page running and production activities.
Key Resources: Main resources needed for Rene's business are supply of the leftover wool and volunteers.
Peer feedback:
Peer 1 → [This area was left blank by the evaluator.]
Peer 2 → [This area was left blank by the evaluator.]
Peer 3 → [This area was left blank by the evaluator.]
Peer 4 → don't really think about the answer or go into detail, just say the obvious
Peer 5 → [This area was left blank by the evaluator.]
Effective grade is 3/3.
Hueforbi is a social enterprise selling beanies made from leftover wool and helping the people of the street.
Applying the business model canvas method to Hueforbi:
Value propositions: This is what Hueforbi offers to its customers (products or services). Customers get "beanies" which are produced using the leftover wool. Apart from beanies, customers find this product valuable as this contributes in helping the community and is environment friendly (as it is made up of recycled material).
Customer channels: These are channels through which products reach customers. For Hueforbi, mouth to mouth publicity is a way of reaching out to customers and beanies are handed over to customers by meeting them. She can consider scaling up her business by reaching to customers via other platforms like web store or partnering with local stores.
Customer Segments: These are the people to whom Hueforbi sells or donates its products. Hueforbi targets homeless people and private people. Apart from these two customer segments, Rene can think of targeting schools, companies etc.
Customer Relationship: She engages with her customers through her Facebook page.
Key partners: Hueforbi has partnered with an organization which provides newspaper to homeless people.
Key Activities: This includes networking with different people, keeping Facebook page running and production activities.
Key Resources: Main resources needed for Rene's business are supply of the leftover wool and volunteers.
Peer feedback:
Peer 1 → [This area was left blank by the evaluator.]
Peer 2 → [This area was left blank by the evaluator.]
Peer 3 → [This area was left blank by the evaluator.]
Peer 4 → don't really think about the answer or go into detail, just say the obvious
Peer 5 → [This area was left blank by the evaluator.]
Effective grade is 3/3.
This blog post is based on my learnings from the course on ‘social entrepreneurship’ offered by Copenhagen Business School through Coursera (2014).
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