Business Opportunity : Smily Orchid Bakery and Cake Company / Nur Farah Izzati Nawi

This assignment is for ENT300 which is fundamental of entrepreneurship, this whole
report is about business tools from chapter 4. In this report contains about how Smily Orchid
Bakery and Cake company create a new innovation product to sell to the customers. In this
report also I introduced my company name, background, and our products. Our Smily Orchid
Bakery and cake create a new innovation product which is ‘Farra Low Carb Diabetic Cake’.
The reason why we create this innovation product be produce is because want to help customers
that want to eat a cake but at the same time also want to lose their weight. This cake be produce
also want to help obesity and diabetes customer want to eat a cake.
Business model canvas for our new product also has been explained in this report.
Business model canvas or BMC has nine building block which are customer segment, customer
relationship, channel, key partners, key resources, key activities, revenue streams, value
propositions and cost structures. In this the company need to decide which segment to serve
and which segments to ignore. Next, value proposition is summarize why a consumer should
buy our products that the company provided. Channel means it describes how a company
communicates with their customers to reaches its customer segments to deliver its value
proposition. Besides, customer relationships are dictating the nature of the relationships that an
organization will develop with its various customer segment. The most important is revenue
stream, this told about how the company will makes a lot of money. In business model canvas
block also contains about key activities, key partner, cost structure and the last one is key
resources.