MGB227 Entrepreneurship Final Learning Report - Assignment Solution

Our clients are located in QUT garden point campus, including students, professors, staff, and visitors. In QUT Gardens Point, there is no coffee shop available for 24 hours. And café launch on the library will solve the market need by operating 24 hours and employing the vending machine.

The feedback has taught me that it is crucial to understand the ‘essence’ of the venture. Being an entrepreneur, I need to pave deeper for success and survival. The lack of experience in starting the coffee shop could be a step-forward for me as a learning tool by finding ways to make the venture succeed. The first step in the Environmental Interaction framework is the understanding and knowledge of the resources. James, a professional friend, will support our business in terms of knowledge and access to the supplier with his expertise. This “building the knowledge reservoirs” by utilizing external networks “…will allow rational planning for growth, based on logic of consequentiality” (Rennemo, Widding and Bogren 2017). As an entrepreneur I want to create values for the communities. My goal is to build a reputation within the community and contribute in increasing their quality of life. 

These aspects help in improving the business model of coffee shop and will allow us to carefully select and retain the right key resources, keeping in mind the operational environment. The ecological element for M&A is the solution for operating hours, meeting the market need, and serving the most excellent coffee for people. The problem of selective environment which will affect the business in slow working hours could be solved by offering coffees through promoting the ‘concept of relaxation’ through hot drinks, to promote coffee usage in those hours. We will also use QUT data base to help us find the right information to support our business model efficiently. The coffee shop also focuses on the value chain, value shop and value network by aligning them with the needs of the business. Value Logics for M&A includes the following (Jensen and Petersen 2014):

• Production of goods and services – selling coffee and excellent serving facilities.
• Analytics – identifying customers’ needs and preferences (need for 24/7 coffee shop and providing coffee in slow hours)
• Facility – recruiting, training and retaining staff and safeguarding them 
• Entertainment – providing relaxing services and products in slow hours 
• Logistics – safe and timely delivery of products and storage of products
• Network access – advertising through social media, word of mouth and other means

We can eliminate the avoidable costs by using social media to market M&A coffee shop instead of using external marketing help. We can adopt the idea of having a vending machine to minimize the cost of employing due to the smaller number of people coming to M&A at night-time. Using different resources and organizing and aligning them according to the problems and challenges arising is the key to survival of the business. The elements of sustainable value are social, environmental and economic (cost savings, profits and economic growth) (Yang, Vladimirova and Evans 2017). The coffee shop interlinks all these three elements in order to create and capture sustainable value by keeping in mind the social-environment.