BUS 400 week 4

Module Four Introduction

BUS‐400‐Q2758 Driving Business Opportunities 23EW2 MA

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Module Four

Learning Objectives By the end of this module, you will meet these learning objectives:

Module Overview Whether you are starting a new business, part of an organization that is innovative, or in a division of a

corporation that encourages intrapreneurship, you are working to solve a problem. You may not yet have an

existing customer base for a speci�c product or service you think may be innovative and generate growth.

Not knowing if you will have customers that are willing to pay for a product or service can be a daunting risk.

Studies show that many startups fail not because of product development but because they lack customers.

You have learned in previous modules that a “brilliant idea” should not be pursued until you can validate it

with sound assumptions. Before companies think about execution (customer creation and company

building), they need to address customer development (customer discovery and validation). This and many

more considerations go into the business model canvas (BMC), which is in essence how a company creates

value for itself while delivering products or services customers are willing to pay for.

You have also learned that there are nine interdependent building blocks in the BMC, and that the process of

completing a BMC starts with the value proposition. This step is not about somebody’s idea; it is about

customers, their needs and pain points. The work on the BMC continues with customer segments, channels,

customer relationships, revenue model, key resources, partners, activities, and, �nally, cost structure.

In this module, you will put the BMC work into practice while realizing that what you produce are

hypotheses. They are nine guesses, really! However, you will validate these guesses as thoroughly as

possible with research and facts so you can either proceed with one idea or prepare to pivot. You will also

work on your second run-through of the simulation.

Module at a Glance This is the recommended plan for completing the reading assignments and activities within the module.

Conduct feasibility testing though a business model canvas

Strategize with other departments, such as marketing, sales, and inventory management

Listen

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Reflect in ePortfolio Download Print Open with docReader

Additional information can be found in the module Resources section and on the module table of contents

page.

Review the resources.11

Submit your module assignment.22

Complete the second run-through of the simulation and submit the accompanying journal.33

Activity Details

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Task: View this topic

Read this introduction to learn what you'll be working on in this module.

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