Business Question

Overview

The elevator pitch was a success! Senior management believes they made the right choice in giving you the title of CIO and putting you in charge of seizing new opportunities in the marketplace.

Scenario

While the pitch conveyed your good idea, it was just that: an idea. You now have to test the feasibility of your idea. However, before you create a complete business model canvas (BMC), you want to quickly identify key elements needed to take your product or service idea to market.

In doing so, you will assume that all components of the BMC are at the fingertips of your project team. For example, you will have to work with the marketing and sales departments, and perhaps outside vendors and suppliers, to promote, advertise, and sell the product or service.

The Business Model Canvas Template you complete in this assignment will serve as the groundwork for the more detailed PowerPoint slide deck you will create in Milestone Two. As with any well-executed project, a former project manager experienced in such product-to-market initiatives has agreed to assess your complete BMC slide deck, which you will submit in Module Five.

Prompt

For this assignment, consider the company you have selected and the work you have completed so far to further your business idea. Then, complete the Business Model Canvas Template linked in the Guidelines for Submission section with your assumptions about the key activities for your business idea, product, or service. Specifically, you must address the following rubric criteria:

Value proposition: Complete the Value Proposition building block by describing the value of your business idea, such as the customer need you are satisfying or the problem you are solving.

Front-stage considerations: Outline the segments related to your potential customers, which include the Customer Segments, Channels, and Customer Relationship building blocks.

Back-stage considerations: Make initial assumptions about how your business will work. This includes completing the Key Activities, Key Resources, and Key Partnership building blocks.

Financial considerations: Make reasonable assumptions about the segments that will inform your profit projections. These include the Cost Structure and Revenue Stream building blocks.

Business Model Canvas Template
Key Partners
Key Activities
Value Proposition
Customer Relationship
Customer Segments
[Add your assumptions here.]
[Add your assumptions here.]
[Add your assumptions here.]
[Add your assumptions here.]
[Add your assumptions here.]
Key Resources
Channels
[Add your assumptions here.]
[Add your assumptions here.]
Cost Structure
Revenue Streams
[Add your assumptions here.]
[Add your assumptions here.]
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BUS 400 Milestone One
Cherelle Pratt
BUS 400- Driving Business Opportunities
May 23, 2024
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BUS 400 Milestone One
Introduction
Good morning to all of you. Thank you for allowing me to share my idea of the Apple
Health+ project. As we all know, Apple is one of the most prominent pioneers of innovation and
technology, and this new service aims to change the health management paradigm by using our
advanced devices and platforms.
How It Fits
It is important to note that Apple Health+ aligns with our firm’s strategic direction and
mission to design positive impact solutions for consumers. By integrating machine learning, big
data analysis, and the compatibility of Fitbit devices, such as the Apple Watch, we can provide
innovative and unique recommendations and health tips for people to take better care of
themselves (Jat & Grønli, 2022). Our research has shown that Apple Health+ is a perfect fit for
our company’s competencies. We also have a clear vision of how hardware and software should
be integrated into a device and how the final product should look and function. In addition, our
current portfolio of devices and services makes introducing a wide-ranging health and fitness
system convenient.
Justification
In this case, it should be noted that the numbers speak for themselves. The health and
wellness technologies, based on industry reports, continue to expand tremendously since
consumers are always searching for easy-to-use and efficient health monitoring products and
solutions (Orji & Moffatt, 2018). The market potential of Apple Health+ through subscriptions to
the service and sales of the devices can be considerable, translating to increased revenues.
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Based on estimation, in the first three years, the company may grab 10% of the market
share, and considering the subscription fees and device sales, we estimate the overall revenue
benefit to be $5 billion per year. As a result of our storefront and strong brand loyalty, we expect
to achieve a high rate of return on investment, with an estimated return of 25% within five years
of operation.
Enhancing the mission
Apple Health+ aligns with our company’s mission statement and upgrades the mission by
presenting us as the company leading in technology usage in the health sphere. In this way, every
aspect of the client’s life is addressed for the better, and our company reaps the benefits of an
increased bottom line and healthy growth.
More specifically, a key message in our most recent filed 10K report is that, in order to
sustain our competitive advantage, innovation and user experience are crucial factors (Apple
Inc., 2023). Apple Health+ illustrates these values well because it provides a smooth and userfriendly system that gives customers a sense of autonomy over their well-being, which leads to
high sales and brand devotion.
Conclusion
To sum up, Apple Health+ is a powerful opportunity to change the health and wellness
market, bring qualitative revenue, and strengthen our company’s position as an innovative
market maker. Based on the strengths, opportunities, and aggressive people-focused mission, this
project has the ingredients to make a big difference. I appreciate the time you have spent with
me, and I hope to have a chance to discuss this great opportunity in the future.
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References
Apple Inc. (2023). United States Securities and Exchange Commission.
https://s2.q4cdn.com/470004039/files/doc_earnings/2023/q4/filing/_10-K-Q4-2023-AsFiled.pdf
Jat, A. S., & Grønli, T.-M. (2022). Smart Watch for Smart Health Monitoring: A Literature
Review. Bioinformatics and Biomedical Engineering, 13346, 256–268.
https://doi.org/10.1007/978-3-031-07704-3_21
Orji, R., & Moffatt, K. (2018). Persuasive technology for health and wellness: State-of-the-art
and emerging trends. Health Informatics Journal, 24(1), 66–91.
https://doi.org/10.1177/1460458216650979