Assignment 3 Value Creation Canvas

Assignment #3 – Value Creation Canvas Template
I created this Value Creation Canvas to provide you with a comprehensive portrayal of influences on value
creation. It has served as a guide to our course (ENT 3613 – Creativity and Entrepreneurship) and can guide
your future problem-solving efforts working in corporations, small businesses, non-profits, or startups.
Where I can, I try to use popular canvases or templates widely used by practitioners. I have showed many of
these to you throughout the semester (e.g., Value Proposition Canvas, Business Model Canvas, Empathy Map,
customer personas, customer journeys, etc.). However, I developed this on my own to add considerations not
included in currently available models and methods, such as:
1. How does an entrepreneur’s characteristics help or hinder value creation?
2. How does creative thinking (the outer ring) interact with judgment (the inner ring)?
3. How can a solution be embedded into delightful and profitable offering (customer journey)?
Now it’s your turn to document how YOUR IDEA has progressed. Please fill in the table (not the diagram)
below addressing each of your creative design choices, your current value judgments regarding the
interactions among these choices, and FINALLY your creative value proposition. The point of this assignment is
help you organize your thoughts and see relative strengths and weaknesses in your proposal as you prepare
for your capstone presentation/portfolio. PLEASE FILL IN THE TABLE USING ONLY THE SPACE PROVIDED (5
lines max) – don’t expand the cells or things get messy! Have fun, be honest (I expect you to be struggling with
some of this), and feel free to continue evolving your proposal in ways that make it more valuable.
Creating
Entrepreneur (desire, knowledge, mindset):
I want to create a virtual music space for users to
enjoy all the benefits they know and love from our
Judging
competitors and give them the option to make this Do you understand the problem?
virtual space come to life with “Party Mode” My friends and I deal with it ourselves. We often
used different apps and each app clearly has more
Problem (Importance, Frequency, Prevalence) focused features than others.
People don’t like going from one music app to the
other for preferred features, it’s a hassle and Do you understand customers’ experiences?
happens every time they want to listen to music. Yes, being a customer myself, this is how I came up
“Which music (app) should I use for how I’m with the idea for “Party Music App”. The frustration
feeling?” of having different music spread between different
Customers (Goals/Jobs, Preferences, Habits) apps is common.
They want one centralized app that is obviously
better than all other music apps they’ve Are customers frustrated?
encountered. They want something new to spice Some are clearly frustrated and complain about
up listening to music. their main music app, while others settle and deal
with the restrictions forced onto them.
Alternatives (Competitors, Substitutes, Status Quo)
Spotify, Pandora, Apple Music. Can you create a novel solution?
Yes, by combining all the pros and adding a unique
feature paired with open ears to our community I
plan on providing the best music app.
Solutions (Features, Benefits, Analogies) Do you delight your customers?

Combining all liked features from competitors and By keeping an open mind and allowing customers to
adding our own unique feature. Doing what my essentially keep want they want and add what they
competitors are doing but better and with an like in a music app I do think I delight my
added twist customers.
Offerings (Products, Services, Margins) Can you deliver at profit?

“Party Mode” sync up music/playlist with another Yes, with everything being programable it would be
app user. Used to discover new music, from fav easy to develop the software at a good price.
celebrities, friends and adds more of a social
dimension to music listening.
Creative Value Proposition (Novel & Valuable)

Our Party Music App helps music lovers who want
one centralized music app with the option of a
social setting by avoiding the hassle of deciding
between the cons of multiple music apps and
Format like this combining all liked features in one place paired with
“Party Mode” unlike other music apps that limit
their customers.

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Assignment #3 – Value Creation Canvas Template

Solutions (Features, Benefits, Analogies) Do you delight your customers?

Offerings (Products, Services, Margins) Can you deliver at profit?

Creative Value Proposition (Novel & Valuable)

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