Executive Summary:
Current Business Model Canvas Analysis:
- Include
Appendix 1: Michael Hill International Ltd’s current Business Model
Canvas.
Analyze each component of the canvas, discussing the
existing value proposition, customer segments, channels, customer
relationships, revenue streams, key resources, key activities, key
partnerships, and cost structure. Please reference how the company has
currently positioned itself.
Can you also include some of the following in their core
value proposition.
- Quality and craftsmanship
- Choice and variety
- personalized service and advice from experts:
- brand legacy
- Identify
strengths and weaknesses in the current model.
3. Opportunities for Enhancement:
- Discuss
potential opportunities for enhancing the current value proposition.
o
Personalized experiences:
o
Omnichannel integration
o
Sustainability focus:
Please add some additional opportunities to this section
- Use
a different text color in the analysis to highlight specific
suggestions/improvements in each canvas component.
4. Improved/Enhanced Business Model Canvas:
- Include
Appendix 2: Your improved/enhanced Business Model Canvas. - Clearly
present the modified canvas with suggested improvements.
o
Fine jewellery subscription service:
o
Niche market such as lab grown diamonds and
vintage jewellery.
o
vintage jewellery selections: appealing to
consumers with different budget constraints.
o
Experiential offerings
o
Please include additional
improvements not mentioned above
- Highlight
changes in value proposition, customer segments, channels, etc., with the
suggested enhancements. Please include some of the following (
5. Reasoning for the enhancements:
- Provide
a rationale for each suggested improvement. - Explain
how each enhancement contributes to creating a new or improved value
proposition.
6. Implementation Plan:
- Outline
a step-by-step plan for implementing the proposed enhancements. - Consider
timelines, resource allocation, and potential challenges.
7. Evaluation Criteria:
- Define
criteria for evaluating the success of the enhanced value proposition. - Discuss
how the changes may impact key performance indicators.
8. Conclusion:
- Summarize
key findings, emphasizing the potential benefits of the proposed
enhancements. - Reinforce
the importance of adapting the business model for sustained success.
9. Recommendations:
- Provide
recommendations for Michael Hill International Ltd based on the analysis
and proposed enhancements. - Suggest
potential next steps for the organization.
10. Appendix 1: Michael Hill International Ltd’s Current
Business Model Canvas:
- Include
the current Business Model Canvas in this appendix.
11. Appendix 2: Improved/Enhanced Business Model Canvas:
- Include
the improved/enhanced Business Model Canvas in this appendix.