Action Plan for Developing an E-Commerce Business Model : A Proposal for an Aspiring Online Entrepreneur
Espinola, Ryan Jay (2023)
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202305098853
https://urn.fi/URN:NBN:fi:amk-202305098853
Tiivistelmä
This study sprung from an aspiring entrepreneur’s desire to establish an online business in Finland. Although the aspiring entrepreneur has an overview of how she will run the business and what direction she wants the company to follow, it is not fully developed and still undocumented. As such, the objective of the project is to create an action plan for developing an e-commerce business model.
The research method used in order to achieve the desired result is applied action research using qualitative method. The study went through four (4) stages. The 1st stage is data gathering where related literatures were reviewed to understand what business models are, their building block components and how to create them. This resulted to a conceptual framework for the starting analysis. Stage 2 is the starting analysis where, through an interview with the aspiring business owner, the “present” and “absent” entrepreneurial ideas according to the conceptual framework were revealed. The 3rd stage is the co-creation of action points on the different business elements that were needed to be put in place to fill the gaps on the entrepreneurial ideas. Finally, the 4th and last stage is the validation of the proposal where a consultation with an external business coach and with the aspiring business owner occurred to get improvement ideas. Additional action points were recommended, action points that are part of other point’s scope were deleted and the different action points were prioritized during the discussion. These feedbacks were thought through after the meeting which led to the final action plan.
The output of the study, when implemented and put in place, would be a business model that will be the foundation of the company which sets the development path of the business. Although the final output is unique to the aspiring entrepreneur's company, the process can be followed and the result will be useful as reference to others who aspire to develop a similar e-commerce business model of their own.
The research method used in order to achieve the desired result is applied action research using qualitative method. The study went through four (4) stages. The 1st stage is data gathering where related literatures were reviewed to understand what business models are, their building block components and how to create them. This resulted to a conceptual framework for the starting analysis. Stage 2 is the starting analysis where, through an interview with the aspiring business owner, the “present” and “absent” entrepreneurial ideas according to the conceptual framework were revealed. The 3rd stage is the co-creation of action points on the different business elements that were needed to be put in place to fill the gaps on the entrepreneurial ideas. Finally, the 4th and last stage is the validation of the proposal where a consultation with an external business coach and with the aspiring business owner occurred to get improvement ideas. Additional action points were recommended, action points that are part of other point’s scope were deleted and the different action points were prioritized during the discussion. These feedbacks were thought through after the meeting which led to the final action plan.
The output of the study, when implemented and put in place, would be a business model that will be the foundation of the company which sets the development path of the business. Although the final output is unique to the aspiring entrepreneur's company, the process can be followed and the result will be useful as reference to others who aspire to develop a similar e-commerce business model of their own.