Ris Resources Enterprise / Afuza Qistina Shamsudin … [et al.]

• Main Authors: Shamsudin, Afuza Qistina, Khairil Hisamuddin, Nina Elly Qasrina, Najib, Nur Anis Syamimi, Azril Fauzi, Sarah Nabila
• Format: Entrepreneurship Project
• Language: English
• Published: 2022
• Subjects: Entrepreneurship. Risk and uncertainty; Planning. Business planning. Strategic planning; Business analysts; Food industry and trade. Halal food industry. Certification
• Online Access: https://ir.uitm.edu.my/id/eprint/67183/2/67183.pdf; https://ir.uitm.edu.my/id/eprint/67183/

The overview of this study is that we are able to see the real-life situation on how entrepreneurs conduct their business and evaluate the business’s nature of business through BMC. This case study was conducted by our group in order to identify the key elements. By using BMC, the business can develop a clear value proposition, customers, operations, and their finance. Ris Resources has been chosen for an interview in order to complete this group assignment. To begin with, Muhammad Ridzuan, who is a founder of the company had decided to quit his job right after he found out his passion in starting up a business. He started out his business by selling a fresh frozen Australian lamb with spices which was labelled as Tasty Lamb. Muhammad Ridzuan then plans to sell a variety of frozen product in one day. His main target customers in selling frozen Australian lamb are basically individuals who have a family as well as individuals with single status who stay alone. Ris Resources Enterprise is in Batu Pahat, Johor. This is a strategic location where he, as a founder of the company may be able to find the right and best suppliers including getting a good price for the materials needed in making the product. Through Business Model Canvas, we are able to know the business’s key partners, key activities, key resources, value propositions, customer relationships, customer segments, channels, cost structure and revenue streams. The strength of this business is that they have halal certificate. It is to ensures the buyers or customers that the food products are prepared in accordance with Shariah law, are clean, hygienic, and environmentally friendly, The Muslim community in Malaysia is rising year by year, and the market is developing, providing several opportunities for the company to provide a variety of Halal products or services and increase its business. In addition, the business also has their regular customers, including the business which also offered their customers a high-quality product. The best part of this business is they also provide a delivery service. Ris Resources has the opportunity to widely expand in the market as they have a social media whereby the business is able to buy their raw materials, they only require few staff, always come up with new recipes and also, they do not have many competitors in this industry.