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Assignment 1 Report

This document summarizes a business model canvas for a company that develops and distributes virtual reality devices and software for medical education. The business would target medical institutions, organizations, students, and professionals as customers. It would provide realistic VR simulations of medical procedures and experiences to enhance the educational process. Key activities would include developing VR software and technical support. Revenue streams may include selling VR equipment and software, subscriptions, and integration of medical equipment in simulations.

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dilhanmq
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9 views

Assignment 1 Report

This document summarizes a business model canvas for a company that develops and distributes virtual reality devices and software for medical education. The business would target medical institutions, organizations, students, and professionals as customers. It would provide realistic VR simulations of medical procedures and experiences to enhance the educational process. Key activities would include developing VR software and technical support. Revenue streams may include selling VR equipment and software, subscriptions, and integration of medical equipment in simulations.

Uploaded by

dilhanmq
Copyright
© © All Rights Reserved
Available Formats
Download as ODT, PDF, TXT or read online on Scribd
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REPORT FOR ASSIGNMENT 1

In this work describe by using a business model canvas the business model of
creating and distributing devices and software for medical education. The business
model canvas briefly describes main parts and overall structure of the business model.

The Business Model Canvas


Customer segments

The customer segment for the business consist from medical institutions and
organizations. Some individuals as students and medical professionals can also become
a customer.

Value propositions

By using modern technologies deep and realistic immersion into educational


practice will be made available for students who learn medicine. In order to the
educational process would be possible, virtual reality simulations will be developed.
This includes real-time simulations, surgery operations, first-aid procedures where the
educated should interact with simulation and gain experience that will be useful in their
future work. Modern VR sets will be used in order to reach this goal. Those includes
suitable VR headset and other devices dedicated for interaction. Latest achievements in
VR research area allows to introduce innovative method for education and safe virtual
experience.

Channels

Main channels where the value propositions are delivered to the customers are
medical institutions and organizations who will use them in educational process. It's also
possible for individuals who are interested in self education to contact and get the
product. Aside of all medical conferences where new technologies and discoveries are
presented can be a good channel for this business idea.

Customer relationships

The customers will get technical support and training of how to use the devices.
Their feedback will be used in order to create new features and improve overall
experience.
Revenue streams

There are several possible revenue streams for the business. First of all is selling VR sets
and software to clients. After that customers can establish subscription that will provide
technical support and updates. Some medical equipment manufacturers would be happy
to see their products in the simulation so the integration might be available. Selling
different sets of content would be a good stream of revenue. Also individual sells would
take place since some of the professional specialist would like to self educate.

Key resources

Key resources used in our business model are VR software developers who will create
program that will be used in education and VR engineers who will work on adjustment
of the equipment. Aside from them medical experts that will help by advising are also
needed. Finally marketing team will introduce products to the final clients.

Key activities

Among all other the main activity that is supposed by this business model is
developing the software that is suitable for education. As mentioned before its important
to provide assistance for new customers. Thus a dedicated support team should direct
and help them get accustomed. Finally its necessary to establish partnership with well
known medical institutions.

Key partner

The key partners are distributors of VR hardware who can produce specialized
equipment for the further selling. After them come medical organizations who can
provide experts who will advice development team. Also medical schools and
universities that can give feedback and direct further researchers can become key
partners establishing two-sided collaboration.

Cost structure

The cost associated with development of software imply spending related to hiring
developers, software engineers and content creators which includes salaries and other
fees. Moreover it should be considered that software development tools, licenses,
researches and other activities tied with developments will cost a lot. It is necessary to
know that user support, documentation, educational material should maintained which is
another spending. Designing and manufacturing the VR devices might compose cost for
creating specialized equipment suitable for distribution. Ensuring smooth and stable
work system involves cost for technical team of developers and testers who will address
issues and provide updates.

Market analysis and competitive landscape

In this section some market characteristics, challenges and opportunities are


evaluated. There are factors that can affect on particular decision made according the
model. After that possible competitive landscape is examined.

Market analysis

The need for the development of virtual reality systems for medical training is
growing every year, since this teaching method provides an easy and safe way to train
new specialists. Thus, despite the lack of widespread adoption of such systems in
practice, as IT becomes increasingly integrated, the number of possible clients in the
form of medical institutions and universities will gradually increase in the near future.

Competitive landscape

There are still no major players in this sphere, so the impact of competitors on the
business model cannot be truly assessed. A new approach to learning can be a good
source of investment, but it is also worth considering that its implementation will require
large efforts.

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