Business Plan

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Summary

Introduction

Business implementation involves set of steps that businesses and organizations use to determine

how to implement a strategic plan within company activities to achieve one or more business

model objectives. This includes activities like setting roles, establishing important dates or

deadlines, defining methods of communication and methods to educate company employees about

strategic planning initiatives (Rumble & Mangematin, 2015). The implementation in an all-

inclusive activity which every stakeholder in a business plays an active role. The weight of each

role however may differently depend on a stakeholder ranking within the entity. More than not

company Chief Executive Officer (CEO) and other C- level officers may carry the largest weight

in implementing a business model. This then trickles down to upper management personnel,

departmental heads and then general employees.

Analysis

The implementation of a business model can either see its success or failure. It is therefore

necessary to have an elaborate plan of identifying challenges and problems in each stage of

implementation and mitigation measures. A strong business model implementation plan will lead

to the following benefits (Rumble & Mangematin, 2015).

i. Uniform understanding across the business: A good implementation plan outlines, roles,

tasks and deadlines in a clear format. This enables the employees at each level to

understand their roles and the desired outcome to work towards. Further, a good

implementation plan ensures that everyone works toward the same goal.

ii. Enhanced productivity in the workplace: Detailed implementation plans provide

employees with everything they need to know to understand and carryout tasks. This can

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help enhance productivity as everyone knows what they need to do, when they need to do

it and how they need to do it.

iii. Successful implementation of strategic plans: A well-thought-out business implementation

plan allows companies to oversee successful strategies to improve or change one or more

areas of the company.

iv. Positive business change and growth: Ultimately, business implementation plans can

contribute to positive company change and growth in a variety of areas including brand

recognition, employee satisfaction, company culture, revenue streams and other areas of

importance. This helps encourage company growth in the right direction.

The successful implementation of a business model is not an event but rather a journey. Successive

right decisions have to be taken to realize the desired end product. While the way to successful

implementation may vary from one business to another, key milestones define a successful

business model implementation (Vermunt et al. 2019). Such milestones are as discussed below.

i. Use the SMART method when developing implementation tasks. SMART stands for

specific, measurable, attainable, relevant and time-bound. Using this method when creating

an implementation plan helps you make sure you outline realistic tasks and time frames for

implementing a business strategy.

ii. List necessary resources to carryout implementation activities. Resources may include

budgets, personnel, business technologies or software, outsourced professionals and other

resources necessary to successfully implement a business strategy.

iii. Set deadlines for each implementation task. By providing a deadline for each individual

implementation task you hold yourself and your team accountable to implement a strategy

within a reasonable time frame.

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iv. Determine the right format to inform employees of implementation tasks. This may include

creating a company-wide memo, holding a company-wide meeting or addressing an

implementation plan in a video message.

v. Compose a strategic implementation plan (SIP) document. An SIP document outlines the

purpose of an implementation plan, deadlines for tasks, resources needed to complete tasks,

role assignments and other important information for company personnel to reference when

carrying out implementation plans.

Implementation Stages

Generally, formulating ideas is easier than validating and implementing them. This discrepancy

has to do with the requirements of the business and its employees, as well as the frequent lack of

a systematic validation approach. When innovation projects fall too early into the standard project

management paths, false expectations and insufficient evaluation of the fundamentals may occur.

Most businesses are "implementation machines": they specialize in optimizing their current

business model. The more successful they are, the more they create and adhere to strict processes

and hierarchies. This is good for the business as it improves their performance within their current

business. But new business models are inherently uncertain and as such should not be implemented

in a linear fashion but tested and adapted iteratively. A further hurdle for many companies arises

from the predominantly digital focus of new business models. Since IT plays a secondary,

supporting role, digital business models bring about further changes and requirements. With digital

business models, the core of service provision relies on the IT and is therefore automatically the

focus of implementation efforts. Due to this, businesses often miss the fact that this does not

necessarily mean that IT is also at the core of the value proposition.

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In the business model being implemented, Beepers aim to disrupt the beekeeping industry by

developing the Cyberhive to enable anyone to become a self-sufficient beekeeper producing their

own raw honey with minimal time, effort and skills, while ensuring the survival of bees and

impacting the environment positively.

In order for our system to work, the business model requires the following;

i. A processing unit that is the Arduino Uno.

ii. It is connected to a microphone amplifier so it can detect bees’ sounds to know if they are

healthy.

iii. A small speaker that emits frequencies to scare off predators.

iv. A weight sensor with its adc board to know how much honey the users are making each

year.

v. Temperature and humidity sensors inside the hive to check if the hive is in a good

condition.

vi. A temperature sensor outside the hive.

vii. That is all powered by a solar panel that charges 2 lithium batteries.

viii. GPS for theft and weather forecast.

A detailed step by step implementation plan is as follow. Through each stage, issues which may

come up are identified.

1. Problem/Solution-Fit

This is the first stage after detailing the business model idea. This is where the assumed problems

and needs of the customer are validated. In addition, the early customer interaction allows to

evaluate whether the imagined solution can satisfy the needs or solve the problems and whether

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the customer in interested in learning more about it. In this phase the company must focus on

qualitative aspects to learn as much as possible from the customer and develop a suitable solution.

At the same time, it is important to narrow down the market and identify the customer group that

has the biggest problem and is therefore most interested in the solution (George & Bock, 2012).

As per the business model, traditional beehives require a tremendous amount of time, effort, and

skills. The average beekeeper age is 66 years. The main reason is that beekeeping has not changed

to accommodate younger generations or to be compatible with the environmental challenges of the

21st century. While the global demand for honey is increasing by 35000MT every year, the average

production of raw honey in a traditional beehive is 11 kg per year, as for the “honey launderers”

based on sugar, the hive production can reach 45 kg per year.

2. Product/Market-Fit

Once the fit between customer problems and solution is validated, the Product/Market-Fit phase

checks whether customers are interested in the business model as a whole, including the mix of

services, products and its features. The main objective is to identify the "must-haves" and the

overall desirability of the solution. This can only be achieved through visualizations, Minimal

Viable Products (MVPs) and direct customer interaction. It is crucial to incorporate what has been

learned directly into the solution and to verify the improved version again.

The business model seeks to provide a solution to the identified problem in beehive keeping. The

Cyberhive is designed to accommodate younger generations and to be compatible with the

environmental changes, by solving the 2 biggest challenges beekeepers face. The technology is

used to monitor the bees daily and the harvesting mechanism to extract the honey directly from

the hive without the need of additional machines. Buying the Cyberhive and producing raw honey

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has a higher return on investment than struggling to find and purchase expensive raw honey due

to its low supply, and untrusted sources.

3. Willingness to Pay

This third step is about deep diving into the revenue model. Many businesses find it very difficult

to not check the willingness of customers to pay until this step, as this is the crucial aspect from

their point of view. Ultimately, however, the direct interest of the customer, which is checked in

the previous phases, is the most concrete indication to this point that a profitable business model

can be developed. A reliable assessment of the willingness to pay can only be achieved once the

value proposition and its related product and service offerings have been defined so exactly that

any customer can understand it. Otherwise, companies run the risk of overestimating unspecific

approval from previous phases and risk too much too quickly.

4. Value Delivery Phase

As soon as the willingness to pay has been validated and pilot customers have been identified, the

Value Delivery Phase can be used to map and develop the production and logistics processes

needed, which cooperation partners are necessary and how the exact cost structure will look like.

While, engineering businesses have troubles to wait until this stage to start working on this

dimension of a business model (Herman & Hervé, 2018). Again, this comes down to the business-

as-usual, where the optimization of the HOW dimension is the key to improve performance. More

often than not, teams try to assess how the concept they generated can be turned into reality, which

typically either results in the abandonment of the idea as it is deemed as too difficult, or in a rush

towards the technical realization of the concept.

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5. Scaling & KPIs

In the last step prior to the (pilot) market entry it is necessary to determine how the success of the

business model actually looks like and how this can be measured. Here, typical growth and

financial key figures may be enough, but due to the strategic character of new business models,

aspects such as synergy effects and scaling potential are also important factors. In addition, after

this stage, the business model turns from a project into a product that needs to be managed

accordingly. Thus, either the handover to the main organization or the foundation of a separate

entity needs to be planned.

Abandonment of the original idea in the business model

While all stages in the implementation phase are important, the value delivery phase can greatly

determine the success or failure of a business model. As the implementation team seek to turn

concepts into reality, the original idea for the business model can easily be dropped leading to

realization of totally different end product than that which was envisioned. In doing so, businesses

ignore the basic idea of the approach, which aims at quickly and cheaply testing business models,

especially in the early stages, where there is no validated value proposition and clear solution

designed: as long as uncertainty is high, the concepts often change tremendously – which in turn

changes the technical requirements. The usual result is the development of a product or a solution

that no one wants to buy.

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Potential solutions and outcomes

i. Make Informed Decisions

By making sure that any decisions made are informed – don’t say “au revoir” to croissants just

because they’re a bit trickier to make or because of boredom. It is important to make decisions that

have good business reasoning behind them.

ii. Consider the Implications

Once the decisions have been made, consider the implications it will have on the rest of the

business – is there anything else you will need to change? Would your clientele prefer more

advanced or less sophisticated application? The ease of adoption? How will these changes affect

your profits?

iii. Document Everything

By writing down what’s changing and why, and what effect it will have on your business is key to

finding solution to abandoning the original business idea. The changes made may come with their

own objectives. For example, by changing the harvesting mechanism can lead to a different

product from what was envisioned in the business model. The business model aims as achieving

honey extraction without stressing the bees. The traditional ways of honey extraction are very

stressful for the bees and very hard for the beekeeper. Despite writing a new part of the business

model, it is necessary to also keep the old version of original plan for reference in case you need

it in the future.

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References

Emili, I, Ella, J, & Ruud, B. (2020). Opportunities and challenges in IoT-enabled circular business

model implementation – A case study. Elsevier.

George, G & Bock AJ. (2012). Models of opportunity: How entrepreneurs design firms to achieve

the unexpected. Cambridge University Press

Herman, I. & Hervé, C. (2018). A decoupling perspective on circular business model

implementation: Illustrations from Swedish apparel. Journal of Cleaner Production.

Rumble, R. & Mangematin, V. (2015). Business Model Implementation: The Antecedents of

Multi-Sidedness. Business Models and Modelling (Advances in Strategic Management.

Emerald Group Publishing Limited, Bingley, pp. 97-131. https://doi.org/10.1108/S0742-

332220150000033021

Vermunt et al., (2019). Exploring barriers to implementing different circular business models J.

Clean. Prod., 222

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