Business and Commercial Awareness:

Implementation Plan for Inside/Out Hotels,

Coursework Possible Outlines
Part A

1. Investment Idea (Overview)

 Target market-
 Why you choose this investment?

2. Business Model Canvas and Impact on Function

A business model canvas is used o generate a model for this business using the nine building
blocks that describe the essential aspects (Dudin et al., 2015: 889).

Customer Segments
“The Customer segments building block defines the different groups of people or
organisations the enterprise aims to reach serve.” (Osterwalder & Pigneau , 2010)

 For who are we creating value?

 Who are our most important customers?
 Focus on customer needs, wants, problems
Value Propositions
“The Value Propositions building block describes the bundle of products and services
that create value for a specific Customer segment” (Osterwalder& Pigneau , 2010)

 What value do we deliver to the customer?

 Which one of our customer’s problems do we help to solve?
 Which customer needs are we satisfying?
 What bundles of products and services are we offering to
each customer segment?

Some of the most common value propositions are:

 Newness.
 High performance. (price to performance)
 Ability to customize.
 Design.
 Brand/Status.
 Price.
 Cost reduction.
 Risk reduction.
 Convenience. (Flexibility)

Channels
“The Channels building block describes how a company communicates with and
reaches it Customer Segments to deliver a value proposition”. (Osterwalder& Pigneau ,
2010)

 Through which channels do our customer segments want to be reached?

 How are we reaching them now?
 Which ones work best?
 Which is most cost efficient?

Direct channel/ Indirect channel/ Reverse channel

Direct channel – supplier-company-customer

Indirect channel – supplier-company-middlemen (wholesalers, retailers)-

Customers

Reverse channel – customers to company to supplier (CFO-BOB)

Dual Distribution channel (use more than one channel, direct + indirect)
Customer Relationship
“The Customer Relationship building block describes the types of relationships a
company establishes with specific customer segments” (Osterwalder& Pigneau , 2010).

 What type of relationship does each our Customer Segments expect to establish
and maintain with them?
 Which ones have we established?
 How costly are they?
 How are they integrated with the rest of our business model?

 Get: How do customers find out about you and make their initial purchase? For
example, this could be through advertising on Google.
 Keep: How do you keep customers? For example, excellent customer service
might help keep customers, promotion, after sales service, member card (loyalty
card)
 Grow: How do you get our customers to spend more? For example, you could
send out a monthly newsletter to keep them informed about your latest products.

Key Resources
“The Key Resources building block describes the moist important assets required to
make a business model work” (Osterwalder& Pigneau , 2010).

 What key resources do our Value Propositions require?

 Our Distribution channels?
 Customer Relationships?
 Revenue Streams?
 Physical: such as buildings, vehicles, machines, and distribution networks.
 Intellectual: such as brands, specialist knowledge, patents and copyrights,
partnerships, and customer databases, trade mark.
 Human: sometimes your people will be your most key resource, this is particularly true
in creative and knowledge-intensive industries.
 Financial: such as lines of credit, cash balances etc.

Key Activities
“The Key Activities building block describes the most important things a company must
do to make its business model work”
(Osterwalder& Pigneau , 2010).
 Recall the distinction between key activities/value propositions.
 What Key Activities do our Value Propositions require?
 Our Distribution Channels?
 Customer Relationships?
 Revenue Streams?

 Production: refers to delivering your product. You will typically do this to either a
high quality or a high quantity.
 Problem Solving: Consultancies and other service organizations often have to
come up with new solutions to individual customer problems.
 Platform/Network: Networks, software platforms can function as a platform. For
example, a key activity for Facebook is updating the platform.

Key Partnerships
“The Key Partnerships building block describes the network of suppliers and partners
that make the business model work” (Osterwalder& Pigneau , 2010).

 Who are our key partners?

 Who are or key suppliers?
 Which Key Resources are we acquiring from partners?
 Which Key Activities do partners perform?

Theme Park – Travel and tour

Indoor Sport- University

Revenue Streams
“The Revenue Streams building block represents the cash a company generates from
each customer segment (costs must
be deducted from revenues to create earnings)” (Osterwalder& Pigneau , 2010).

 For what value are our customer willing to pay?

 For what do they currently pay?
 How are they currently paying?
 How would they prefer to pay?
 How much does each revenue stream contribute to overall revenues?

Main income + Other income

Cost Structure
“The Cost Structure describes all costs incurred to operate a business
model”. (Osterwalder& Pigneau , 2010).

 What are the most important costs inherent in our business

model?
 Which key resources are most expensive?

3. Resource Requirements ($22.5 for the chosen Function)

The sales and marketing function (7Ps)

Operation function (Supply Chain Management and organization structure)

IT and digital (Intranet-Within organization, Extranet- relationships platform with specific

partners, CRM-customer relationship management software (sales and marketing), POS system,
ERP- Enterprise resource planning (operation)

Hard technology/ Soft Technology

HR- Recruitment and Selection, Performance Appraisal, Training and development, Reward,
Employee relations

4. Time Plan and Milestones

 The business plans to begin the implementation of the new investment in the second
quarter of 2023.
 The goal of promoting early is to give customers time to understand the new model and
collect their views. Through that, necessary changes and adjustments can be made.
 The marketing team will also continuously study the market to identify their immediate
and long-term needs.
 It is crucial information because the industry is competitive, and while the business plans
to bring a new experience, it must stay at par or positively ahead of the competitors.
  Sales and marketing is a continuous process and a crucial function of the business. It will
continue throughout the lifespan of the hotel. The figure below summarizes the marketing
of the business and key milestones, between January and June 2024.
Tas Duratio 1 2 3 4 5 6 7 8 9 1 1 1 1 1 1 1 1 1 1 2
k n 0 1 2 3 4 5 6 7 8 9 0
Gantt
Ente
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your for
task
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Implementation Plan Coursework

Figure 1: Gantt chart showing milestones of the marketing process

5. Links to Other Departments

Apart from marketing and sales, other ------functions include operation, purchasing human
resources, engineering, safety and emergency, finance, housekeeping, and security (Texas
Education Agency, 2012).

 Marketing relies on the front office for data on guests and making a good impression of
what was promoted to the customers, as well as overall communication. One of
management’s branches is marketing as it uses it to create a relationship with customers.
 Operation also allocates resources to the marketing department to enable it to perform its
roles.
 The purchasing and receiving department connect with suppliers and customers,
respectively. Marketing studies customers, and that determines which supplier is more
relevant to the department depending on the needs.
 The human resource department recruit employees into the marketing department and
groups them depending on their role. Marketing indirectly affects employee recruitment
in other departments by presenting changes in customer behavior. And also performance
appraisal, reward, training and development.
 The IT department mainly deals with the maintenance of utility services in the business.
They also maintain marketing systems such as data centers and other equipment. Safety
and emergency is an essential department because it could either build or destroy a
business.
 The finance department helps in determining the cost-effectiveness of the marketing
function. For example, it can calculate whether sales achieved from a marketing
campaign are equivalent to the campaign cost.
6. Risk Analysis

7. Stakeholder Analysis
The business has both external and internal stakeholders. Employees and owners are the internal
ones, while suppliers, local communities, customers, the media, government agencies,
competitors, unions, financial intermediaries, and activist groups are the external.

Step 1: Identify your Stakeholders

Start by listing who your stakeholders are and note down how they impact the business. As part
of this, think of all the people who are affected by your project, who have influence or power
over it, or have an interest in its successful or unsuccessful conclusion. This can include people
or organizations. You might want to go back to the exercise you did earlier in this unit on
identifying stakeholders in various organizations, to get some ideas.

Step 2: Organize and Priorities Stakeholders

Your identified stakeholders will have varying levels of interest in, and influence (power) over
your project or organization. Mendelow's Priority Matrix enables us to assess the power versus
impact dynamic of different stakeholders.
Once you have a list of all potential stakeholders, review the list and identify the specific
interests these stakeholders have in your project. Consider issues such as: the project's benefit(s)
to the stakeholder; the changes that the project might require the stakeholder to make; the project
activities that might cause damage or conflict for the stakeholder. Record these under the
column "Stakeholder Interest(s) in the Project".

Now review each stakeholder listed in the first column.

 Consider the impact that the project will have on the stakeholder
 Assign H for High, M for Medium or Significant and L for Limited or Zero
 Record these in the column entitled “Assessment of Impact on Stakeholder”
Then consider:

 The impact the stakeholder must have on the project for it to be successful, and the
likelihood that the stakeholder will play this role
 The impact of a stakeholder's negative response on the project
 Assign H for extreme impact, M for moderate importance, and L for limited importance
 Record these scores in the column entitled "Assessment of Impact by Stakeholder ".

Stakeholders who are impacted very highly and whose impact is very important to project
success (or can influence its failure) are KEY. These are those with two H scores. Those with H
for Impact on the project and M for Impact by the project are also very important. Both of these
categories are stakeholders on whom there should be a major focus or the project could fail.

If a stakeholder has little impact on the project (the L’s) then they can be given lower priority –
but do not forget them because their impact could change and they may still be able to influence
key stakeholders. Those with L for impact on the project and an H for impact by the project
must be watched carefully if the project has a negative impact. They will feel impotent, but will
look for ways to exert influence. This can take the form of stirring up employee discontent,
press stories, possible legal action. These are termed the loose cannons (they are dangerous
potentially, but unpredictable).

You can now plot each stakeholder onto the matrix to visually summaries your analysis, by
simply adding the relevant stakeholder groups to each of the four boxes.

Important Note: As Step 3 explains, the power and interest of different stakeholders can change
within a project. If this happens, complete a new matrix, highlighting the change. This can be
achieved by presenting the old matrix and the new one, together with some commentary on the
change. Or, use an arrow to show movement on the original matrix.

Step 3: Identify Actions

The final step is to consider the type of actions which you could take to obtain stakeholder
support and reduce their opposition. Consider how you might approach each of the
stakeholders. What kind of information will they need? How important is it to involve the
stakeholder in the planning process? Are there other groups or individuals who may influence
the stakeholder to support your initiative? Record your strategies for obtaining support or
reducing obstacles to your project in the last column in the table. This is the target output from
the whole exercise – it is why we have conducted the analysis.

Dependent on the duration of the project, the exercise should be reviewed regularly. Generally,
on a monthly basis to see if the stakeholders are still the same (have any new ones appeared?).
Also consider whether their attitudes or level of power have changed? If they have change, what
changes to your strategies are needed? And finally, it is important to review how well the
strategies have been working and whether they need to be adjusted. A key indicator here is
whether the stakeholders are still supporters or whether those opposed have become less opposed
or ideally have switched to become supporters.

Part B

Reflection (5Rs or Kolb) (500 words)

Reflection is a practice that supports learning and helps in analysis and evaluation for deeper
understanding. Gibbs model is a reflective cycle for systematic thinking through different
activity stages (Wain, 2017: 662). Elements include action plan, description, conclusion,
feelings, analysis, and evaluation (Wain, 2017: 663).

Description

Feelings

Evaluation

Analysis

Conclusion
The most important lesson is that teamwork cannot succeed without the input of the team.
Therefore, each member must willingly give their best effort and learn from the rest during the
process.

Action Plan

The author learned a lot from the team members and will use these ideas in future studies. One of
the skills is curiosity as the members were not easily satisfied with one answer.