Description
Scenario
It’s the moment of truth: your opportunity to demonstrate why your new product or service is worth funding. You have done the research and know that the funding you seek can be a game changer for the company. Not only will it produce revenue and profitability, but more importantly, it will strategically set the company apart from its competition.
You just have to convince senior management.
In preparation, you have created a checklist for yourself to use in compiling information that includes research, feasibility of the idea via the BMC, scope of project (timeline included), project risk mitigation, DEI, CSR, and 24-month pro forma.
You know that anything can happen in a funding pitch. With this in mind, you are prepared to answer questions that encompass all aspects of the project.
Directions
Create a pitch for funding. In this pitch, you will have to convince senior management to greenlight the new product or service. Aspects of the pitch that must be addressed:
Value proposition: Describe the company’s current value proposition in the market.
Describe the selected company’s main product or service.
Discuss the company’s overall strategic plan.
Competitive advantage: Describe the competitive advantage the company will gain by funding the project.
Describe how you discovered an opportunity to do something better than your competitors.
Determine how the new product or service shifts the value proposition of the company.
Risks and opportunities: Establish the risks and growth opportunities of the company.
Determine if the new product or service could disrupt the current industry.
Identify the risks associated with the development of this new product or service.
Growth opportunities: Describe the areas of potential growth for the company.
Identify the growth opportunities within the company.
Explain how the competitive advantage allows for growth.
Distinguish as a new product or innovation: Distinguish the new product/service as an innovation or improvement on an existing product/service.
Determine if the product or service fits within the capabilities of the company.
Note: a company’s SWOT analysis or 10-K is an indicator of whether the new product or service could be feasible.
Explain how the new product or service adds to the portfolio of the company.
Target segment: Describe the targeted segment.
Identify the target customer.
Explain your blue ocean strategy.
Note: The new market is identified here.
Speculate sales: Speculate on the projected sales.
Justify your product or service by the numbers; discuss your projected revenue gain.
Note: it MUST have an ROI that justifies the project for investors and/or senior management.
Explain the risks associated with projected sales.
Speculate profitability: Speculate on the profitability of your proposed product or service.
Determine if the project is profitable.
Note: In this pitch for funding, senior management has to know that the project, based on market research, is speculated to be profitable. Use the company’s current income statement to project how the company’s profitability will be affected. Look to other companies in the marketplace with products or services similar to the one you are proposing as a basis for your projections. Note: these numbers are purely speculative.
Determine the impact on the functional areas of the business (accounting, marketing, sales, and so on).
CSR plan: Outline the plan to service the community or customers that purchase the product or service.
Discuss how the idea demonstrates corporate social responsibility (CSR).
Identify what the company has invested in as it relates to the communities they serve.
Discuss how a good CSR plan helps the company gain competitive advantage.
DEI plan: Summarize how the project will include a variety of perspectives to get a better unique value proposition.
Determine if the company has a corporate culture built on DEI.
Discuss how the project’s DEI plan fits into the company’s overall strategic plan.
part 2
The Business Model Canvas Template you complete in this assignment will serve as the groundwork for the more detailed PowerPoint slide deck you will create in Milestone Two.
part 3
Overview
You are excited to see the possibilities after finishing the Business Model Canvas Template. The next step is the development of the BMC slide deck for review by the experienced former project manager mentioned in the Module Four assignment.
Scenario
In the BMC slide deck, you will make educated assumptions (based on research in Marketline, Yahoo Finance, or the company’s website) about your selected company’s resources, partnerships, cost structures (what needs to be paid for), how the product or service will be marketed, value delivery (product sold online, in-store, or both), and the unique value proposition for a specific targeted market segment.All 9 segments of your redeveloped BMC must encompass elements to achieve new product/service feasibility.Beyond profitability, other key elements that the experienced project manager stressed were diversity, equity, and inclusion (DEI), as well as corporate social responsibility (CSR). In the marketplace, companies that have diverse project teams get varied perspectives that help the overall project. Just as important, companies that “give back” to the communities they serve do better and are supported by millennial buyers—a big target segment for many companies.Financials, DEI, and CSR must be addressed in the funding pitch, which you will complete as your course project, due in Module Seven.
Prompt
You will create a slide deck that will help you expand on your BMC chart in detail as you refine how your selected company will create value for itself while delivering a new product or service for customers. Complete the Milestone Two Template linked in the Guidelines for Submission section for this assignment.Specifically, you must address the following rubric criteria:
Deliver a unique value proposition.
Leveraging the blue ocean strategy, what makes the product or service unique?
How does it provide a strategic advantage in the marketplace?
Answer key business model questions about the customer.
Customer acquisitions
Revenue models
Price points for the product/service
Key activities for the value proposition (product or service)
Answer key business model questions about assets, partners, and cost.
Assets available
Key partners
Cost structures
Import your existing business model canvas chart from Module Four.
Clarify your business model assumptions.
Check your assumptions
Complete the assumptions chart
Prepare to meet customers.
Highlight the materials needed
Update your documentation.
Targeted segment
Type of value delivered
How the product is unique
Update your business model.
Complete any updates to the BMC chart
part 3
Prompt
The PM’s directive at this point is for you to develop a 24-month pro forma that demonstrates the potential profitability of the new product or service in an income statement. You will use the Module Six Assignment Template linked in the Guidelines for Submission section to complete this assignment.You may use the current company’s income statement to project what can be added to the company’s profitability. This can be found in the company’s 10-K. Look to other companies in the marketplace with products or services similar to the one you are proposing as a basis for your projections. Additionally, you may use the company’s current year numbers and key assumptions based on your analysis of the market to project into the future. Remember, these numbers are purely speculative.In the template, you will specifically address the following:
Previous fiscal year: Identify historical information for the previous fiscal year.
24-month projections: Speculate projections for 24 months.
Explanation of assumptions: Explain how you were able to speculate appropriate assumptions.
part4
Prompt
For your business continuity plan, consider your next steps, including project improvements and how to mitigate risk to the project to protect the product investment. To accomplish this, you must leverage employee and customer feedback on the new product/service. Additionally, research the market and use a PESTLE analysis to examine if any external factor could affect your new product offering.Specifically, your plan must address the following criteria:
Business continuity plan: Outline a basic business continuity plan for your business that identifies key business areas and critical functions as well as identifies at least one measure for recovering or maintaining critical business operations in case of an emergency. Include how you will ensure that this plan is followed.
Post-launch stage: Propose new ideas for the post-launch stage, including one idea for a product/service improvement you plan to implement after the initial launch, and one idea for increasing your customer base or engagement after the initial launch.
Feedback loops: Explain how you will implement feedback loops for your product or service.
PESTLE analysis: Use PESTLE analysis to identify at least one external risk factor that may affect the project. Then provide a solution or contingency plan for mitigating that risk.
Unformatted Attachment Preview
PROJECT OUTLINE for APPLE SMART HOME ECOSYSTEM
Apple Smart Home Ecosystem
[Your Name]
Southern New Hampshire University
1
PROJECT OUTLINE for APPLE SMART HOME ECOSYSTEM
2
About Apple Smart Home Ecosystem
The Apple Smart Home Ecosystem revolutionizes modern living by seamlessly integrating
iPhones, iPads, Apple Watches, and HomePods into a unified home automation system. A simple
app and Siri’s advanced AI voice commands let consumers control home lighting, climate, security,
and entertainment with this innovative solution. Apple’s AI-powered smart home solution is
unique. These skills let the system interpret complex instructions, adapt to user behavior, and
customize the experience. The ecosystem redefines smart home data security by offering unrivaled
simplicity and flexibility. It improves users’ daily lives with cutting-edge features like fingerprint
authentication and encryption that function from start to finish. The Apple Smart Home Ecosystem
emphasizes security, privacy, and simplicity, making it innovative. This meets tech-savvy
consumers’ shifting expectations.
Goals
Apple Inc.’s Smart Home Ecosystem aims to lead the fast-growing smart home technology
sector. Apple intends to create a smooth, user-friendly, and secure smart home experience by
combining iPhones, iPads, Apple Watches, and HomePods. AI-driven automation, safe
encryption, and customized user experiences are among the goals to boost consumer satisfaction
and brand loyalty.
By broadening the company’s ecosystem, improving customer involvement, and
diversifying its product line, the project also fits with Apple’s overall strategic vision and objective.
The Smart Home Ecosystem program directly addresses Apple’s strategic goal, prioritizing
innovation, user experience, and ecosystem integration. Integrating the Smart Home Ecosystem
with Apple’s objective to create unique and high-quality technologies that seamlessly integrate into
users’ daily lives is a testament to Apple’s commitment to providing customers with innovative
PROJECT OUTLINE for APPLE SMART HOME ECOSYSTEM
3
solutions that enhance their lives. Furthermore, the ecosystem supports Apple’s broader
environmental objectives by encouraging energy efficiency and environmentally friendly practices
in smart home automation, which aligns with Apple’s focus on sustainability and environmental
responsibility. Apple hopes to maintain its market leadership, spur revenue growth, and establish
itself as a global leader in technology through these strategic goals and objectives.
Target Customer
Tech-savvy people and families looking for a smooth, safe, and customized smart home
experience make up the target market for the Apple Smart Home Ecosystem. This group, which
primarily consists of homeowners and wealthy customers between the ages of 25 and 55, is unique
in that they have a high level of digital adoption and a preference for integrated tech solutions.
According to Curtis et al. (2019), 82% of Americans between the ages of 30-49 own cell phones,
demonstrating the target age group’s digital literacy. The product offers a straightforward,
comprehensive solution that streamlines complex home automation, addressing customer needs
and pain points. For instance, consumers can quickly secure their smart homes and enjoy tailored
experiences thanks to Apple’s advanced AI and security measures. The success of Apple HomeKit,
which is part of the ecosystem and enables users to control numerous smart devices using voice
commands and a single app, is evidence of this. Addressing the hassle of managing many apps and
gadgets improves the target demographic’s overall experience with smart homes.
Market Opportunity
According to Aliero et al. (2021), the worldwide intelligent house market is expected to
reach $174 million by 2025, indicating the rapid expansion of the industry already in place. The
desire for smooth automation, improved security, and energy efficiency is on the rise, which
reflects customer preferences for sustainability and convenience. Apple’s Smart Home Ecosystem
PROJECT OUTLINE for APPLE SMART HOME ECOSYSTEM
4
takes advantage of these developments by providing a complete solution that meets consumer
demands for ease of use, security, and customization. In line with the popular Apple HomeKit, the
ecosystem, for example, incorporates cutting-edge AI-driven automation and encryption to solve
security issues and streamline house management. Additionally, Apple’s scalability and wellknown brand put it in an excellent position to take advantage of developing markets and changing
customer needs. The firm has a track record of expanding its ecosystem and adjusting to new
markets in order to meet the needs of a wide range of customers.
Financial Opportunity
Apple Inc.’s Smart Home Ecosystem will boost cash flow and top-line revenue. Innovative
solutions are predicted to profit from the global smart home market’s 21.5% CAGR from 2021 to
2026 (Al-Sarawi et al., 2020). Apple will gain market share with its ecosystem, which meets
changing consumer needs. Customers buying Apple’s smart home products would boost shortterm profits. Apple can also use its popular subscription model, like Apple One, to bundle Apple
Music and Apple TV+, increasing user loyalty and income. In terms of long-term sustainability,
the ecosystem’s ability to adapt and add new features matches Apple’s innovation, ensuring market
relevance. Premium tech support and home automation consultations might boost income and
solidify the company’s smart home technology leadership.
Timeline
1.
Research and Development (R&D) Phase:
a) Months 1-6: In-depth market analysis, identifying consumer preferences and technology
trends
b) Months 7–12: Conceptualization and prototyping of the Apple Smart Home Ecosystem,
emphasizing AI integration and security features
PROJECT OUTLINE for APPLE SMART HOME ECOSYSTEM
2.
Prototype Creation:
a.
Months 13–18: Development and testing of prototype models, incorporating user
feedback for refinement.
3.
Market Testing:
a.
Months 19–24: Selective prototype release for testing in critical markets,
assessing user experiences, and identifying improvements
4.
Marketing Campaigns:
a.
Months 25–30: Launch comprehensive marketing campaigns emphasizing the
ecosystem’s unique features, security, and user benefits.
5.
Product Rollout:
a.
Months 31–36: Full-scale product rollout, ensuring broad availability across
Apple’s global retail network and online platforms.
Respecting these timelines is essential to maintaining a competitive advantage in the
ever-changing smart home market, as well as to ensuring the timely launch of the Apple Smart
Home Ecosystem and its ability to drive innovation and gain market share.
5
PROJECT OUTLINE for APPLE SMART HOME ECOSYSTEM
6
References
Aliero, M. S., Qureshi, K. N., Pasha, M. F., & Jeon, G. (2021). Smart Home Energy Management
Systems
in
Internet
of
Things
networks
for
green
cities
demands
and
services. Environmental Technology & Innovation, 22, 101443.
Al-Sarawi, S., Anbar, M., Abdullah, R., & Al Hawari, A. B. (2020, July). Internet of things market
analysis forecasts, 2020–2030. In 2020 Fourth World Conference on smart trends in
systems, security and sustainability (WorldS4) (pp. 449-453). IEEE.
Curtis, B. L., Ashford, R. D., Magnuson, K. I., & Ryan-Pettes, S. R. (2019). Comparison of
smartphone ownership, social media use, and willingness to use digital interventions
between generation Z and millennials in the treatment of substance use: cross-sectional
questionnaire study. Journal of medical Internet research, 21(4), e13050.
Business Model Canvas Template
Key Partners
Key Activities
Value Proposition
Customer Relationship
Customer Segments
[Add your assumptions here.]
[Add your assumptions here.]
[Add your assumptions here.]
[Add your assumptions here.]
[Add your assumptions here.]
Key Resources
Channels
[Add your assumptions here.]
[Add your assumptions here.]
Cost Structure
Revenue Streams
[Add your assumptions here.]
[Add your assumptions here.]
BUS 400 Milestone Two Template
Business Model Canvas
[Slide Deck Template]
Company: [Enter your company name here]
Last updated: [Enter the last update date here]
[Complete this template by replacing the bracketed text with the relevant information throughout.
Your slides should summarize key points in the text that you will elaborate on within the speaker
notes section below the slide. Professional slides limit their use of words to highlight main points,
while enabling the speaker to extend and enhance the main points within the speaker notes
section. Remember to cite your sources in each slide and include a list of references on the last
slide. Finally, be sure to overwrite or delete all instructions in brackets before submitting.]
Unique Value Proposition
[Leveraging the Blue Ocean Strategy, write a brief response that describes what makes your
selected product or service unique and how it will provide a strategic advantage in the
marketplace.]
[Insert response here.]
1: Key Business Model Questions: The Customer
[Write a brief response to the following questions.]
1. How do you acquire customers? [Insert response here.]
2. How do you deliver the product/service to the customer? [(Note: This is the Channels section
of the BMC chart.) Insert response here.]
3. After you have landed a new customer, how do you plan to relate to that customer and
manage the relationship (if at all)? [(Example: customer service) Insert response here.]
1(a): Key Business Model Questions: The Customer, Continued
[Write a brief response to the following questions.]
4. How will you charge your customers? What is your revenue model? [Insert response here.]
5. How much will you charge your customers? Can you calculate your revenues for the next
month, quarter, and year? [Insert response here.]
6. What key activities do you need to engage in to deliver your value proposition? [Insert
response here.]
2: Key Business Model Questions: Assets, Partners, and Cost
1. What assets are available to you or under your control? [(Refer to the company’s SWOT
analysis.) Insert response here.]
2. Who are your key partners? [Insert response here.]
3. What are your cost structures? What will you need to pay for in order to create the
product/service? [(Example: What do you need to pay for to create your unique value
proposition?) Insert response here.]
3: Create Your Own Business Model Canvas Chart
[Paste your completed chart from the Module Four assignment here.
Be sure it reflects instructor feedback.]
Key Partners
Key Activities
Value Proposition
Customer Relationship
Customer Segments
[Add your assumptions here.]
[Add your assumptions here.]
[Add your assumptions here.]
[Add your assumptions here.]
[Add your assumptions here.]
Key Resources
Channels
[Add your assumptions here.]
[Add your assumptions here.]
Cost Structure
Revenue Streams
[Add your assumptions here.]
[Add your assumptions here.]
4: Consider Your Business Model
•
Based on the BMC chart, why does it make sense to proceed with this new product/service?
[Insert response here.]
•
What are the risks to your business model? [(For example, do you have the right relationships
with suppliers and partners to create the value proposition and bring it to market?) Insert
response here.]
•
Are there things that can or should be changed to strengthen the business model to reduce
its risk? [(Refer to the SWOT analysis. Example: having multiple suppliers to protect the
project.) Insert response here.]
[Delete this slide once your have completed the table on the next slide.]
[Clarify Your Business Model Assumptions]
[Check each response in your previous BMC chart against the following criterion:
•
How do you know that what you wrote in each block is true? Have you made an assumption,
or do you have solid evidence in the form of documented facts (based on research)?
Using the table on the next slide, list your assumptions and fill in the relevant information as
follows:
– Where you have facts, write the evidence in the “Fact” column.
– Where you have made assumptions, place an X in the “Assumption” column.
The table will help you identify where more research is still needed to address your assumptions.]
5: Clarify Your Business Model Assumptions
[List and categorize your assumptions about your business model below. Use as many lines as you
need. Remember to indicate if this item is an assumption with an X in the third column or provide
supporting evidence in the second column.]
BMC Chart Item in Question
[Example: Customers are loyal enough to
pay more for our product vs another
company’s product]
This Is a Fact.
Here Is My Evidence:
This Is an
Assumption
X
6: Preparing to Meet Customers: Materials and Sales Process
[Create a checklist of the materials you will need for your customers from the points below by
highlighting the items that apply. (Note: Not all may apply.) Add materials as needed. Please
include the necessary items in your updated BMC chart.]
– Website
– Customer presentation
– Marketing plan
•
Sales process description
– Acquisition of customers
– The sales process (for example: website sales)
– Pricing options: single-priced product or service versus multi-tier pricing
7: Update Your Documentation
[Create your positioning statement using the following template bullets. Note: These are typical
funding questions. ]
•
The product/service is targeted to… [Insert response here.]
•
The type of value our product/service delivers is… [Insert response here.]
•
Our product/service is unlike others because… [Insert response here.]
9: Updated Business Model Canvas Chart
[Complete this template by replacing the bracketed text with the relevant information.]
Key Partners
Key Activities
Value Proposition
Customer Relationship
Customer Segments
[Update your assumptions here.]
[Update your assumptions here.]
[Update your assumptions here.]
[Update your assumptions here.]
[Update your assumptions here.]
Key Resources
Channels
[Update your assumptions here.]
[Update your assumptions here.]
Cost Structure
Revenue Streams
[Update your assumptions here.]
[Update your assumptions here.]
10: References
[Cite your sources on this slide according to APA style.]
BUS 400 Module Six Assignment Template
24-Month Pro Forma
Insert the appropriate values in each row.
Sales
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total operating expense
Income from operations
Other income
Income before tax and interest
Other expense (interest)
Income before income tax
Income tax expense
Net income
Previous Fiscal Year
$
$
$
$
$
$
$
$
$
$
$
$
$
24-Month Projections
$
$
$
$
$
$
$
$
$
$
$
$
$
Explanation of Assumptions
[Insert one to two paragraphs explaining how you speculated appropriate assumptions.]
References
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