ENTP700 Business Models and Capturing

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Business Models and Capturing Value –12marksThe Business Model Canvas is a valuable strategic tool for defining the business model of a company and identifying how the business will create and capture valuein the market. 1.Select oneof the three innovativecompanies below and createa business model canvas for that business:•Dresst -https://www.dresst.ca/•Farmbot -https://farm.bot/•Watt Pad -https://www.wattpad.com/2.From your completed business canvas, pick 1 aspectof the model that you feel is the company’s strongest,and 1 aspectyou feel is the company’s weakest -explain why.2) Commercialization and Diffusion of Innovation–8marksRead the article: “Why All the Warby Parker Clones Are Now Imploding”https://marker.medium.com/why-all-the-warby-parker-clones-are-now-imploding-44bfcc70a00c1.The Direct to Consumer (DTC) business model has been apreferred model for many innovative new start-ups,however DTC brands are now facing challenges commercializing their products and services. Identify 3 challengespresented in the article that DTC companies are facing, and provide an example of how a companyhas beenimpacted byeachchallenge. 2.Given thechallengesnow facing DTC companies, explain whether or not you think it is still a viable business model for commercializing innovations. Support youranswer with specific rationale