MGT 807 Entrepreneurship and Innovation
After finishing your master’s degree at ICMS, you have decided to open a coffee shop business in Manly. But before starting the venture, you plan to investigate the marketability of this idea. You have heard about the concept of design thinking to spot and harness opportunities, as well as to develop your business.
a). Develop a customer journey map to understand your customer(s) key interactions with your company. The customer journey map should include a written description and a graphical illustration of the following elements:
- One customer persona (10 marks)
- Purchase journey (a path to purchase divided into specific steps or phases) (10 marks)
- Touch points customers will interact with or use during their experience (10 marks)
- Customers’ actions throughout the purchase journey (10 marks)
b) Derive and explain 5 specific critical success factors that are relevant for your business to ensure successful competitive performance. (20 marks)
c) Derive and describe for each of the five critical success factors two lead (performance) and two lag (result) indicators to measure the performance. (20 marks)
d) Explain how you would measure each indicator and what information is needed to measure the indicators. (20 marks)