1. Describe the entrepreneurial journey of EcoSync (1500 words).
In this account of EcoSync’s entrepreneurial journey, you need to describe various stages that the firm has gone through as it evolved into what it is today. Use this framing to include analysis on product development, building the expert team, obtaining investment funding and other aspects that appear critical to the EcoSync story. Your analysis should use appropriate theory from recognised academic sources to help underpin your discussion.
Structure: ensure you take a developmental and historical perspective that identifies discrete stages running from initial idea(s) up to and including where EcoSync sits in the market today.
Sources: use various existing web sources in addition to resources drawn from the lecture programme to gather case study material on EcoSync.
2. Draw up a business model for EcoSync containing a new value proposition for the firm’s products and services through which it can sustain and grow its business (1500 words).
This assignment element is a ‘real-world’ problem. This means that ideas developed by students for this assignment have the potential of being applied directly in the market place. Additionally, the learning involved will be attractive to prospective employers. A ‘value proposition’ refers to some innovative quality or feature in a product or service that adds value in some manner to make a company or product attractive to customers.
EcoSync are looking for fresh thinking and want to go back to basics to understand their new target audience, to know what the ‘pain points’ and triggerfactors are for this audience, and to find out how to adjust their value proposition, their go-to-market strategy including branding, marketing, and customer acquisition strategy in order to gain traction in the marketplace. Use the Business Model Canvas template to help you undertake this task.
Some basic questions that the strategy can answer include:
➢ What is the new value proposition and what is innovative about it?
➢ How unique is this proposition? Are there similar offerings available on the market?
➢ Who is the target customer?
➢ What customer need does the product/service meet?
➢ Why is the product/service better than comparable alternatives?
➢ What are the competitive advantages of the new value proposition? Why cannot a competitor simply copy them?➢ How does the product/service reach the customer?
➢ What strategy should the firm follow to acquire new customers?
➢ What is the profile of the potential customer?