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Business Idea Assignment: Business Report on Eye Cloud


Task: The objective of this individual assessment submission is to learn how to develop your own business idea, complemented by research and observational insights that detail why the need is compelling. Please submit a 1500-word business report of your idea, a detailed business model (BM) canvas, discussion of the interrelationships among the BM components that are essential to success, critical risks and assumptions, and overall feasibility. The business model canvas must be discussed in the report and included as an appendix.


Discussion of the market problem
Eye cloud is a leading company in the sector of an artificial intelligence system. They conduct various research to design technological products and delivering them to customers. The main problem arises when they are getting complaints about existing products. The existing products are not fully inbuilt with the latest technologies. This problem leads to doing planning for the new concept that can provide adequate service to the customers.

Customer benefits from the business model
The business model will provide significant benefits to customers as the new model will be proposed to resolve the technical issues of the existing products. It can be assumed that the new business model will increase the productivity of the Company in the market. The customer can get services all time from the Eye cloud.

Description of the business model
Eye cloud is planning to introduce the new business model that can solve the current issues of the Products. The model will be based on developing cloud security systems and its applications in the real world. The Company will design innovative products that can provide complete security to the system, and the technical issue can be solved. The model will provide integrative solutions to the issue that the existing products are suffering. New products based on the model that launched by the Company will provide secured services to the Consumers.

Business Model canvas

Key Partners

Key Activities

Value Propositions

Customer Relationships

Customer Segments

The key partners of the Company act as the pillar in the organization. It motivates the Company to develop new innovative models in the market. Eye cloud has potential critical partners like Google, Yahoo, and Intel that supplies innovative resources to the Company (Osterwalder, Pigneur, Smith, & Etiemble, 2020).The partners help to provide innovative ideas with the latest tools so that technological products can e designed. 

The products of the eye cloud define its uniqueness on the market. Eye cloud always focusses on developing technological products like cloud computing system products (Osterwalder, Pigneur, Smith, & Etiemble, 2020). Different processes in key activities help them to gain customer attraction on the market. The revenue streams and distribution channels of eye cloud have a strong base to prove their uniqueness.

Being an artificial intelligence-based company, the eye cloud delivers the latest and innovative products to its customers. They also develop products along with a reasonable price so that the relationship with the customer gets strong (Osterwalder, Pigneur, Smith, & Etiemble, 2020). For providing exceptional services to its customers, the Company is resolving the drawbacks of existing products. It will prevent deterioration of the customer relationship. Supplying great quality products with reasonable cost helps to satisfy the customer demands.

The relationship of the Company with the customer is decided by which tool they are communicating. Customers prefer those companies who supply all time service. As the eye cloud is a software-based Company; thus, it must have providedservice on its products to the customers (Osterwalder, Pigneur, Smith, & Etiemble, 2020). It will increase the feedback value of the Company.

The customer segmentation is done mainly based on the geographic and demographic value of customers (Osterwalder, Pigneur, Smith, & Etiemble, 2020). In every field, there are mainly two groups of customers- one who looks for innovative products irrespective of price and one who looks for cost-effective products. Eye cloud has a particular infrastructure for providing services to both groups.

Key Resources


The expert team of the Company must analyze the essential resources. The latest marketing strategies, like digital marketing practices, must be followed to increase the frequency of channels and customer relationships. Essential resources mainly include the tools and processes followed by the Company while designingthe Product. Eye cloud has a remarkable stand in providing the latest technological products to the customers.

Online platforms are the best way to promote products. Digital marketing platforms like social websites can be a great companion for the Company to promote its Product in the international markets. The relation with stakeholders can be made secure by frequently communicating with them. It can be done through email for sending and receiving the report.

Cost Structure

Revenue Streams

The primary driver of the cost is remodeling digital CRM for operating the processes throughout the system. The principal activities are mainly online based that does not draw high cost from the system (Osterwalder, Pigneur, Smith, & Etiemble, 2020). The cost proportion is divided into two segments, namely- fixed and variable. There is no such variable cost of the Company. A fixed cost is spent on digital CRM.

The Company always tries to engage customers to increase their market value so that their revenue can be increased. The Company involves in promoting the products through its page on social website platforms (Osterwalder, Pigneur, Smith, & Etiemble, 2020). It increases the count of website visitors and helps to attract potential customers from all over the world.


Interrelationships of BM Canvas
The various aspects of the Business Model canvas are interrelated, which proves that changing or modifying one point will automatically affect the other. The essential resources must be identified first so that the cost structure can be design according to that. The principal activities will decide the uniqueness of the Company that will help to improve customer relationships (Augenstein & Fleig, 2017). The cost structure of the Company evaluates the revenue streams and the channels to attract potential customers in the competitive market. The Company must focus on uniqueness by analyzing a survey on the customer segments for improving the quality of the Products.

Description of Critical Success factors

Success Factors


Impact level

Expert technical Personnel

When it comes to developing innovative products, technical experts are needed to supervise and monitor the team for executing the work properly. The experts can advise on the crisis and solve it effectively (Kerzner, Using the project management maturity model: strategic planning for project management, 2019). They can also simplify the complex task by dividing them into parts and execute those parts.


Implementation of proper risk management

Strategies must be implemented by the leaders to handle the risks in the Company. Risk can occur at any moment while designing an innovative product (Kerzner, Using the project management maturity model: strategic planning for project management, 2019). That risk must be handled by the managers and leaders to provide the smooth working of the process. In this way, the progress also does not get affected, and Project can be executed successfully.


Experienced Managers

Managers who have significant experience possess knowledge in different aspects. Their knowledge can be made usable on designing the Product. They can share their views according to the planning of the Project (Lückmann & Feldmann, 2017). As a result, it can bring success to the Company.


Targeting the milestones

Every Company wants to achieve some milestones from their Product. It helps to increase the value of the Company in the international market. The count of potential customers also gets increased with the increase in value (Frefer, Mahmoud, Haleema, & Almamlook, 2018). Thus, the Company must target some milestones that can be achievable by designing of the Product



Description of critical risks and assumptions

Critical Risk


Impact Level

Cost Problem

When the Company is planning to launch an innovative product, then this problem can happen. The Company can face getting overrun on cost, and thus, the financial crisis can occur (Kerzner, Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance, 2017). This type of problem occurs when too many resources have been used on the Project. Another reason for this risk is wasting too much time experimenting. Thus, to mitigate this proper risk budget must be planned.


High Competition risk

In recent years, various software companies have emerged in the market. Thus, the competition has increased a lot. Every Company is on the race of proving its uniqueness. Competition is a significant risk in the IT industry. The risk can be mitigated to some extent by providing cost-effective unique products to the customers.


Exceeding the estimate

It can become a significant risk in the Project and can make the Project fail. If the project cost gets exceeded by any means, then it fell a significant effect on the Project (Kerzner, Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance, 2017). Handling this type of situation becomes severe. The risk can be mitigated by the use of limited resources and executing them at the specified time.


Low sales

Designing a product is not enough for the Company. It should be promoted in proper platforms for sales. If the sales of the Company are weak, then that Product cannot survive in the competitive market. The Product will inevitably fail and leads to massive loss of the Company. The risk can be mitigated by promoting the Product through events and online platforms.



Evaluation of the feasibility
The feasibility of the model is evaluated depending on various points. The points are discussed below: -
1. The model should mitigate the current problem in the market thoroughly. It will help in developing the new Product smoothly.
2. The model should be cost-effective so that it can be implemented in the Company effectively. It is often seen that expensive cost models fail due to a lack of proper planning.
3. The model should be designed in such a way so that it can provide proper services to increase the growth of the Company. The design of the model should also match with the infrastructure of the Eye cloud. Then the implementation can be made without any barrier.

Augenstein, D., & Fleig, C. (2017). Exploring Design Principles for a Business Model Mining Tool. ICIS.
Frefer, A., Mahmoud, M., Haleema, H., & Almamlook, R. (2018). Overview success criteria and critical success factors in project management. Industrial engineering & management, 2169-2316.
Kerzner, H. (2017). Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance. John Wiley & Sons.
Kerzner, H. (2019). Using the project management maturity model: strategic planning for project management. John Wiley & Sons.
Lückmann, P., & Feldmann, C. (2017). Success factors for business process improvement projects in small and medium sized enterprises–empirical evidence. Procedia computer science, 121, 439-445.
Osterwalder, A., Pigneur, Y., Smith, A., & Etiemble, F. (2020). The Invincible Company: Business Model Strategies From the World's Best Products, Services, and Organizations. John Wiley & Sons.

Part 1: Strength of Business Idea

1.      Extent to which the idea:

·         Takes advantage of an environmental trend

·         Solves a problem

·         Addresses an unfilled gap in the marketplace


2.      Timeliness of entry to market

Very timely

3.      Extent to which the idea “adds value” for its buyer or end user


4.      Extent to which the customer is satisfied by competing products that are already available

Very satisfied

5.      Degree to which the idea requires customers to change their basic practices or behaviors

Small to no changes required


Part 2: Industry-Related Issues

1.      Number of Competitors


2.      Stage of Industry Life cycle

Growth phase

3.      Growth rate of industry

Strong growth

4.      Importance of industry’s products and/or services to customers

“must have”

5.      Industry operating margins



Part 3: Target Market and Customer-Related Issues

1.      Identification of target market for the proposed new venture


2.      Ability to create “barriers to entry” for potential competitors

Can create

3.      Purchasing power of customers


4.      Ease of making customers aware of the new product or service


5.      Growth Potential of target market



Part 4: Founder (or Founders) related issues

1.      Founders or Founders experience in the industry


2.      Founders or Founders’ skills as they relate to the proposed new venture’s product or service


3.      Extent of the founder’s or founders’ professional and social networks in the relevant industry


4.      Extent to which the proposed new venture meets the founder’s or founders’ personal goals and aspirations


5.      Likelihood that a team can be put together to launch and grow the new venture

Very likely


Part 5: Financial Issues

1.      Initial capital Investment


2.      Number of revenue drivers (ways in which the company makes money)

Two to three

3.      Time to break even

Less than one year

4.      Financial Performance of similar businesses

One to two year

5.      Ability to fund initial product (or service) development and/or initial start-up expenses from personal funds or via bootstrapping



Overall Potential

Part 1: Strength of Business Idea

High Potential

Potential can be improved if the idea is strong and feasible.

Part 2: Industry-related issue

High Potential

Potential must be remainedhigh so that project execution can be made smoothly.

Part 3: Target Market and Customer related Issues

Moderate Potential

Potential must be remained low so that the customer satisfaction can remain high.

Part 4: Founder (or Founders) related Issues

Moderate Potential

Potential must be maintained so that the issues does not become big.

Part 5: Financial Issues

Low Potential

Financial Issues must be addressed so the execution can be made clear.

Overall Assessment

Moderate Potential

An average good score in all the aspects.


The assessment has been made logically by analyzing the different aspects on real time scenario. The cost, resources and founders play a main role in promoting the product on the international market. According to the real time market research, the assessment has been done.


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