Essay on Feasibility Study Of A Business

Essay on Feasibility Study Of A Business

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The feasibility study of a business’s design comprises of all strengths and weaknesses analyses within a particular business in order to determine whether the design is practicable and potential to benefit that business in a foreseeable future (Trimi, Berbegal-Mirabent 2012). To access this study, the researcher need to have a comprehensive understanding of the business’s resources and their interconnections which are included in the business model Canvas (Stephen, Richard 2014). This model is considered the most effective methodology in the process of supporting innovation and making decisions, thus, to assure the successfulness of a business or a project (Hanshaw 2015). This essay will discuss some central characteristics including customer segments, value propositions and channels of the Business Model Canvas respectively in the case of Dell, one of the most valued companies in the technology industry. The importance of this model in the process of assisting the researchers to access the viability of the business’s idea will also be examined in the subsequent paragraph of the essay.
The Business Model Canvas is an innovative business model framework which can be distinguished with other frameworks by its ability to provide a complete description, visualization, assessment and amendment of a business (Osterwalder, Pigneur, and Smith 2010). This model consists nine components in total including customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships and cost structure in a conceptual priority order (Osterwalder 2012) which are belong to four main areas comprising of offerings, customers, infrastructure and financials (Rytkonen & Nenonen 2...


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... to maximize their revenues and profits. Not only these three components of Business Model Canvas but also six other components including customer relationships, revenue streams, key resources, key activities, key partnerships and cost structure partly contribute to the framework of feasibility study of business’s idea.
In conclusion, it can be argued that the Business Model Canvas should be taken in consideration to assist the progress of achieving viability of business’s idea. Each component of this model has shown the intimate relationship to the future benefits of the company which helps notifying decisions making, understanding the whole picture, controlling resources. In the case of Dell, three main characteristic have been analyzed and it is believed that they will definitely create an outline for researchers to reach the feasibility of this company.

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