Description chose a business venture concept of a hologram food menu. Report: design a fully developed business model (hologram food menu). The business model shows: a. a venture’s value proposition; b. how value is created for customers; c. how resources, activities and partners are organized to deliver value to the customer; d. how value is captured by generating revenue streams while minimizing costs. While there is some overlap with the business venture concept, it will be a considerable extension of it. Compared to the concept summary, for a business model more detail is required, especially in the part that explains how value is created, delivered and captured. Here you will have to make use of the insights gained in weeks 9-11 of the course unit on generating a business model, validating customer interest, and building a venture. The business model design should not only be explained in words but also shown visually, using the appropriate frameworks that have been discussed in class. 2. A step-by-step explanation of the process of business model design An explanation of the practical steps in the process that led to the business venture concepts and the business model, respectively. Here the focus is on the use of the practical frameworks that you have worked with in the workshops. You are expected to provide evidence of the research and decision-making process that led to your design of a business model (informed and reasoned decision). You should at least address the following components: • How did you generate your initial ideas for the entrepreneurial venture? • How did you select the main idea from the three business venture concepts? • Which key decisions (or pivots) did you make that led to the proposed business model design? • What evidence did you use to support your decisions in choosing your idea, designing the business model, and validating customer interest? • Which practical frameworks from the course readings, lectures and workshops did you use and how have they helped you in making the key decisions and in designing the business model? 3 3. A critical reflection on the process of creating an entrepreneurial venture, using the course readings about theory and practice with regard to creativity, design and entrepreneurship. In the final part of the report, you will have to present a critical reflection on the exercise of developing the business venture concepts and the business model. You will have to explain how various different theoretical perspectives and/or models with regard to creativity, design and entrepreneurship have inspired the process. Here the focus is on the use of theory instead of practical frameworks. You will have to show that you have read and understand the readings and lectures of each week. In other words, you have to showcase your knowledge by using the theory to critically reflect on the process of developing a business model for your own entrepreneurial venture.
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