The Fun Center's Original Business Analysis

Recommendation 5: Maximizing Activities

Analysis of The Fun Center’s original business plan shows the need for an action plan outlining the activities that should be further developed to deliver a unique value proposition and generate more income. Moreover, the recommendations also require a plan to address the company’s estimated cost of maximizing activities as compared to the original business plan. To effectively provide a unique customer experience the development of The Fun Center as a themed entertainment hub is essential (Orland, 2015). Specifically, this is achieved by investing in a futuristic environment and atmosphere where a significant portion of the arcade games are interactive, virtual and multiplayer experiences emphasizing …show more content…
We found that the business model canvas was a more accessible tool in terms of quickly identifying the essential functions of the business, while the business plan was difficult to navigate and process efficiently. We conducted our research based on our intuitive improvements we created for version one of the business model canvas. Our initial research luckily coincided with our hypothesized improvements. Continuing our research allowed us to gain insights into what our improvements would entail in terms of affecting the blocks of the business model canvas. Our group found that applying the business model canvas as an analytical framework effectively revealed the holes that existed in The Fun Centre’s business plan. These “holes” or inadequacies allowed us to better focus on lacking aspects of the plan. In recognizing the lacking aspects, we were able to use the case methodology to improve upon the original business plan by fine tuning the original data. Furthermore, the business model canvas was a key tool to take the business plan from a static plan to a dynamic model that can be adapted as the environment surrounding the business changes in terms of risks and …show more content…
The new technology that will be used in the arcade is difficult to quantify in terms of cost in an arcade environment where a full interactive, virtual and multiplayer experience will be provided as compared to their simpler forms used for in-home gaming. We were able to make estimates using financial statements of other comparable arcade firms that have some comparable technology while allowing for a buffer that accounts for the newer technology and their configuration in the arcade. It was also difficult to quantify the extra costs created by adding variety to the food and beverage service, as well as changing the decor of the arcade. When working with the business model canvas, it was apparent that if changes were made as a result of carrying out research, it would affect all areas of the business model canvas. In practice, it proved more of a challenge to track all the areas that were affected and in what way they affected the other blocks in the business model canvas. Our group tackled this challenge by taking the time to review all changes made and ensuring the proper adjustments were then made to all affected areas of the business model canvas by doing further