University of Twente Student Theses
Evaluating the integration of Lean Startup methodology with Business Model Canvas in SMEs in the hospitality industry : a Case Study of Flavourite Wine
Roktoe, Sagar (2024) Evaluating the integration of Lean Startup methodology with Business Model Canvas in SMEs in the hospitality industry : a Case Study of Flavourite Wine.
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| Abstract: | This research explores the integration of the Lean Startup (LS) methodology with the Business Model Canvas (BMC) within Small and Medium Enterprises (SMEs) in the hospitality industry, using Flavourite Wine as a case study. The study goal is to determine whether integrating these methods impacts SMEs' success and sustainability. Despite comprehensive research on LS and BMC, there was a notable gap in its application to non-digital SMEs in the hospitality industry. In this study, I address this gap by investigating the practical implementation and benefits of LS and BMC in a real-world case in the hospitality industry. In the extensive literature review, I focused on studies that examined the integration of LS and BMC in SMEs. The review highlighted the advantages of LS, like cost savings, customer-centric focus, and improved processes, with challenges like neglecting crucial aspects and market development. In a similar way, the BMC was noted for its simplicity and effectiveness in business model development but also criticized for its complexity in dynamic businesses. To identify the research gap, the five-stage grounded theory method by Wolfswinkel et al. (2013) was used to systematically review the literature. The outcome of this systematic review was that there is a research gap between LS and BMC being widely studied in digital and high-tech startups. However, their application in non-digital, hospital industry SMEs is still underexplored. The case study of Flavourite Wine shows the practical implications of applying both LS and BMC. The outcome showed that both methods can facilitate iterative development, customer feedback integration, and strategic pivots, resulting in contributions to the success, sustainability, and adaptability of businesses. This research offers valuable insight for entrepreneurs and SMEs in the hospitality industry, along with a framework to improve their business strategies and operational efficiency. |
| Item Type: | Essay (Bachelor) |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 85 business administration, organizational science |
| Programme: | International Business Administration BSc (50952) |
| Link to this item: | https://purl.utwente.nl/essays/100307 |
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