CENTRE FOR ONLINE LEARNING

Capstone I – Group Project

Guidelines – Batch 2023 B

CONFIDENTIALITY: This document is only meant for the Online PGDM program
students and Examiners/Faculty of the Great Lakes Institute of Management. This
document must not be shared electronically or otherwise with anyone else.
 GREAT LAKES INSTITUTE OF MANAGEMENT
Centre for Online Learning OPGDM
CAPSTONE PROJECT – I

Preamble
The OPGDM – CP I is a 3-Credit Group Project designed for the Online PGDM
students to integrate their learning inculcated during the first year of their studies,
wherein they have gone through the foundation courses culminating with the Strategic
Management course delivered in the Term-3 of the first year.

The Task
As a Group Learning Activity, the CP I aims at the participants selecting a real company
(preferably public) from a given list as ET500, then collecting/collating data and
information pertaining to that company and its markets, to –

I. Analyse the nature of the business model and go-to-market (GTM) strategy adopted
by the chosen company or a particular division of the company. (The immediate goal
at this stage is to populate a Business Model Canvas that truly represents the current
state of this business)
II. Conduct – Value Chain Analysis; Competitor Analysis; and Five Forces Analysis for
this company/division.
III. Based upon the above conduct a SWOT Analysis to identify issues that the firm needs
to resolve in a prioritised manner.
IV. Conclude on the various analyses done, market/environmental insights, and SWOT, by
creating and presenting a new Business Model Canvas that represents clearly your
recommendations on how the company/division in question needs to change its
business model and hence strategy.

Choosing a Company
You must choose a company from the list that will be provided to you. The objective should
be to choose a business or company that is operating in a maturing market, which obviously
implies that the Product/Service the company deals in is at the maturity stage of the product
life cycle.

Mature markets are characterized by sales revenue growth starting to decelerate; receding
market shares; profit margins coming under pressure etc. All this happens as businesses get
obsolete, due to any reasons such as – economic (adverse conditions affecting a business –
e.g. how hospitality got impacted and redefined during COVID), functional (outdated
design/features of the product – e.g. what went wrong with Nokia); and technological
obsolescence (e.g. 4G versus 5G Phones).
Obsolescence risk is the risk that a process, product, or technology used or produced by a
company for profit will become obsolete and thus no longer competitive in the marketplace,
reducing the profitability of the company.

(You may want to refer to - for instance,

https://www.investopedia.com/terms/m/matureindustry.asp, to revisit your understanding of
what constitutes a “mature’ market.)

Some examples of maturing industries/markets are –

● Terrestrial TV and Dish based Direct-to-Home TV losing out to Internet based OTT
TV.
● Physical Retail of Grocery in Urban markets giving way to ‘Quick Commerce’
and e-commerce.
● ICE (Internal Combustion Engine) Vehicles giving way to EVs or alternative
fuel vehicles.

While choosing the company/business, please ensure the following –

1. That the company or business is selected from the list provided by the University.
(This will ensure that you have access to the audited accounts of the company as
companies listed in the stock exchanges in India, have all their financial disclosures
available on websites like www.moneycontrol.com or www.valueresearchonline.com
etc.)
2. If a company is a highly diversified group then you may choose one of their
divisions/businesses/SBUs. E.g. Mahindra & Mahindra has multiple businesses like–
Commercial Vehicles versus Personal Vehicles; 2-wheelers versus 4-wheelers etc. In
such a case, you should choose only ONE of the businesses/SBUs/Divisions.
3. That the company or business has been in existence for a sustained period of time,
say - more than 10 years.
4. That some or most of the businesses/products/services of the company are in the
maturity stage (as discussed earlier in this document).
5. That, a minimum of three consecutive years of the latest Financial Results of the
company is publicly available and accessible to you.

General Guidelines

1. This is a 3 Credit group project compiled by a group of (6-7 members) with a

mentor allocated by the Program Office

2. CP-I entails choosing a listed (Indian) company from the list provided.

3. “One Company One Group” policy is to be followed and two or more groups
CANNOT choose the same Company.
 4. Company choices will be finalized on a “first-come-first-served” basis.

5. Within a given company, you have the freedom to choose a particular SBU or
Division. If you do so, you will clearly mention this choice in the Project Title
on the Report Cover Page and in the Executive Summary of the Report as well,
which you submit.

6. All reports are to be submitted in PDF format ONLY.

7. Word limit is 2500 words for the Interim Report
8. Word limit excluding Appendices is 5000 words in the Final Submission.

9. Please follow the Harvard Referencing System to provide BOTH

“in-text” and “end-of-text” referencing.

(See:https://www.emeraldgrouppublishing.com/how-to/authoring-editing-reviewi
ng/use-harvard-reference-system)

10. Please include a Declaration that this report is an original piece of work
and the analysis and recommendations are solely of the group.

11. Adhere to the submission deadline communicated by the Program Office.

12. Top Sheet of the Report MUST have the following details –
a. Names and ID Nos. of all the Team Members
b. Name of the company that is under investigation
c. Word Count

IMPORTANT: Absence of Sample Interim/Final Report for Capstone Project

It has been decided not to provide any sample interim or final reports for reference. This
decision has been made to ensure that each group has the opportunity to approach the
project with fresh perspectives and unbiased thoughts. It will allow you to showcase your
unique creativity, critical thinking, and analytical capabilities
List of Companies (Will be shared separately)

Assessment

Stages Weightage

Attendance for Mentor Connects 10

Interim Report 40

Final report 50

Total 100

Rubric for Interim Report (40)

Nuanced articulation of the chosen company’s 15

EXISTING business model using a
BUSINESS MODEL CANVAS and Value
Chain Analyses
Detailed environment; 5 Forces; Competitive 20
and Internal Analyses, based on which a
SWOT analysis is done - leading to the
identification of issues that can be addressed
by the marketing function for the company in
the chosen category for business growth.
Referencing and original writing 5

Rubrics for Final report (50)

Overall understanding of the templates used 7.5

in strategic analyses of the firm -
Environment analyses; Competitive analyses;
Value-chain analyses; 5 Forces Analyses and
the Business Model Canvas.
Nuanced articulation of the chosen company’s 10
EXISTING business model using a
BUSINESS MODEL CANVAS and Value
Chain Analysis
Detailed environment; 5 Forces; Competitive 10
and Internal Analyses, based on which a
SWOT analysis is done - leading to the
identification of issues that can be addressed
by the marketing function for the company in
the chosen category for business growth.
New Business Model Canvas proposed 15

Referencing and original writing 7.5

Peer grading:
In the Capstone Project, only the final report shall be subjected to Peer Grading. Peer
grading scores will be considered at the time of releasing grades for the Capstone Project. Please
refer to Peer Grading guidelines for the same.

Timelines

2023 B Batch Section I and Section II

Capstone-1
Capstone course release on Olympus 7th September 2024 (Saturday)
Google form for company selection release
7th September 2024 (Saturday)
Orientation
Submission of Project selection form 13th September 2024 (Friday)
Allocation of companies to groups
18th September 2024 (Wednesday)
Release of Interim Report Guidelines
Mentor allocation to Groups 23rd September 2024 (Monday)
Mentor Connect-1 5th October 2024 (Saturday) and 6th October 2024
(Sunday)
Interim report submission 28th October 2024 (Monday)
Feedback for interim report 14th November 2024 (Thursday)
Mentor Connect-2 14th December 2024 (Saturday) and 15th
December 2024 (Sunday)
Final report submission 20th January 2025 (Monday)
Chapter Plan for INTERIM Report

Every Group Report submitted MUST involve the following chapters.

I. EXECUTIVE SUMMARY

II. INTRODUCTION – (To the company and market; lay out the market challenges
the company/brand/category is facing; Market size and trends thereof, leading to an
analysis and outlook for the whole sector. Also, what have been the key reasons for
the company’s success, which needs to be depicted via a “Business Model Canvas”
articulation representing the current state of the business?)
III. COMPETITION ANALYSIS – (Identify main players and their strengths and
weaknesses in brief.)

IV. PORTER 5 FORCES ANALYSES – (Be specific and connect to your chosen
company or category.)

V. INTERNAL ANALYSES – (Company background; scope of operations; and

performance till date; Value-chain analyses.)
VI. FINANCIAL ANALYSIS – (The following tools/methods are useful in analysing
the financial health of any company - (i) Create a Common Size Statements; (ii)
Ratio Analyses. To evaluate a company’s performance over the years, you should
analyse preferably last consecutive 5 years of financial data of the company or at
least 3 years of data must be considered. Compare the company performance
vis-à-vis competitors and with the industry averages. This section should be able to
help you in validating your proposed change in strategy for the chosen company.
(See:
https://online.hbs.edu/blog/post/how-to-determine-the-financial-health-of-a-compan
y; https://www.wallstreetmojo.com/financial-analysis-tools).

a. COMMON SIZE STATEMENT: Use your skillsets acquired in the FADM

course. To revisit how to conduct a common size statement analysis, see -
https://www.investopedia.com/terms/c/commonsizeincomestatement.asp
b. RATIO ANALYSES: You MUST analyse the following TWO RATIOS
under EACH category of Financial Ratios indicated below and use your
interpretation in drawing conclusions and formulating your recommendations
of what the company should do next and why –

1. Profitability Ratios => facilitate the assessment of how profitable the

business is - (i) PBITDA Margin; (ii) PBIT Margin.
2. Liquidity Ratios => test the sufficiency of working capital/short term
liquid funds - (i) Current Ratio; (ii) Cash Profit from Operations.
3. Efficiency Ratios => test the ability of the firm to utilize assets
efficiently -
 (i) Total Asset Turnover Ratio; (ii) Return on Capital Employed.
4. Solvency Ratios => test the ability of the firm to service and repay long-term
debt-
(i) Net Debt to Shareholders’ Equity; (ii) Interest Coverage Ratio.
5. Investor Ratios => helps investors in deciding whether the company is worth an
investment or not - (i) EPS; (ii) Return on Shareholders’ Equity.

VII. SWOT ANALYSIS – (This MUST be with reference to the specific product or
category and company selected). Instead of a SWOT, you should formulate a
TOWS Matrix, which deliberately classifies Opportunities and Threats, as falling
in either a Strength or a Weakness Area of the company in consideration. Unlike a
SWOT Matrix, the TOWS analysis prioritizes external factors, based upon the
rationale that we should start by analysing the external forces and environment,
and then consider them in conjunction with the firm’s internal capabilities. TOWS
examines the company’s external opportunities and threats and compares them to
the company’s strengths and weaknesses, providing the logic for what strategy the
firm should devise (and why) in what priority order. (For a discussion and
explanation of TOWS, see: An-introduction-to-the-TOWS-analysis.pdf
(herts.ac.uk)) (See: Appendix-3 for an illustration)

Please Note:
● Interim Report requires you to show the work on the initial 7 chapters as outlined in
the Chapter Plan for INTERIM Report.
● Aim for sufficient information and analysis from the initial 7 chapters that help you
to draw insights for the 8th chapter.
● You will be required to revise all the chapters based on the Interim Report feedback
before making the Final Report submission.
● The Final Report will include evaluation of all the chapters.
Chapter Plan for Final Report
Every Group Report submitted MUST have the following CHAPTERS ONLY –

I. EXECUTIVE SUMMARY

II. INTRODUCTION – (To the company and market; lay out the market challenges
the company/brand/category is facing; Market size and trends thereof, leading to
an analyses and outlook for the whole sector. Also, what has been the key reasons
for the company’s success, which needs to be depicted via a “Business Model
Canvas” articulation representing the current state of the business?)
III. COMPETITION ANALYSIS – (Identify main players and their strengths and
weaknesses in brief.)

IV. PORTER 5 FORCES ANALYSES – (Be specific and connect to your chosen
company or category.)

V. INTERNAL ANALYSES – (Company background; scope of operations; and

performance till date; Value-chain analyses.)

VI. FINANCIAL ANALYSIS – (The following tools/methods are useful in

analysing the financial health of any company - (i) Create a Common Size
Statements; (ii) Ratio Analyses. To evaluate a company’s performance over the
years, you should analyse preferably last consecutive 5 years financial data of the
company or at least 3 years data must be considered. Compare the company
performance vis-à-vis competitors and with the industry averages. This section
should be able to help you in validating your proposed change in strategy for the
chosen company.
(See:https://online.hbs.edu/blog/post/how-to-determine-the-financial-health-of-a-
company; https://www.wallstreetmojo.com/financial-analysis-tools).

a. COMMON SIZE STATEMENT: Use your skillsets acquired in the

FADM course. To revisit how to conduct a common size statement analysis,
see -
https://www.investopedia.com/terms/c/commonsizeincomestatement.asp
b. RATIO ANALYSES: You MUST analyse the following TWO RATIOS under
EACH category of Financial Ratios indicated below and use your interpretation in
drawing conclusions and formulating your recommendations of what the
company should do next and why –

1. Profitability Ratios => facilitate the assessment of how

profitable the business - (i) PBITDA Margin; (ii) PBIT Margin.

2. Liquidity Ratios => test the sufficiency of working capital/short term

liquid funds - (i) Current Ratio; (ii) Cash Profit from Operations.

3. Efficiency Ratios => test the ability of the firm to utilise assets
 efficiently -

(i) Total Asset Turnover Ratio; (ii) Return on Capital Employed.

4. Solvency Ratios => test the ability of the firm to service and repay
long-term debt - (i) Net Debt to Shareholders’ Equity; (ii) Interest
Coverage Ratio.

5. Investor Ratios => helps investors in deciding whether the

company is worth an investment or not - (i) EPS; (ii) Return on
Shareholders’ Equity
VII. SWOT ANALYSES – (This MUST be with reference to the specific product or
category and company selected). Instead of a SWOT, you should formulate a
TOWS Matrix, which deliberately classifies Opportunities and Threats, as falling
in either a Strength or a Weakness Area of the company in consideration. Unlike
a SWOT Matrix, the TOWS analysis prioritizes external factors, based upon the
rationale that we should start by analysing the external forces and environment,
and then consider them in conjunction with the firm’s internal capabilities.
TOWS examines the company’s external opportunities and threats and compares
them to the company’s strengths and weaknesses, providing the logic for what
strategy the firm should devise (and why) in what priority order. (For a
discussion and explanation of TOWS, see:
An-introduction-to-the-TOWS-analysis.pdf (herts.ac.uk)) (See: Appendix-3 for
an illustration)
VIII. PROPOSED FUTURE ROADMAP – (Based upon your analyses, articulate a
New Business Model Canvas, highlighting how exactly you are proposing the
chosen company to redraw their business model as against what you had
described in Chapter-II.)
 APPENDICES
APPENDIX-1: Description of Business Model & Business Model Canvas

A business model describes the rationale of how an organization creates, delivers, and
captures value. The business model is like a blueprint for a strategy to be implemented
through organizational structures, processes, and systems and can best be described through
nine basic building blocks that show the logic of how a company intends to make money.

These nine blocks called a BUSINESS MODEL CANVAS - covering the four main areas of a
business, namely – customers, offer, infrastructure, and financial viability, are –

1. Customer Segments: An organization serves one or several Customer Segments.

So, in this section we have to clarify –

2. (a) Which customers and users are we serving?

(b) Which jobs do the customers really want accomplished (through my
product or service?

3. Value Propositions: Manifest what products/service the firm has created to solve
customer problems and satisfy customer needs, i.e. – (a) What are we offering them?
(b) What is that getting done for them? (c) Do they care?

4. Channels: Value propositions have to be delivered to customers through

communication, distribution, and sales channels, i.e. – (a) How does each
customer segment want to be reached? (b) Through which interaction points?

5. Customer Relationships: How relationships are established and maintained with

each Customer Segment served. This should clarify – what relationships are we
establishing with each segment – personal, automated, acquisitive, retentive?

6. Revenue Streams: Delivering the right value propositions successfully offered

to customers, yield revenue streams. We need to determine – What are
customers really willing to pay for? How? Are we generating transactional or
recurring revenues?

7. Key Resources: Refer to the assets required to offer and deliver the value
proposition to the targeted segments. We need to identify which resources are key
for our business model to work effectively; and which assets are essential?

8. Key Activities: The core functions/processes, to be accomplished that will lead to

creating and maintaining profitable relationships with chosen segments. i.e. -
which activities do we need to perform well in our business model? What is
crucial?
 9. Key Partnerships: Some activities are outsourced and some resources are
acquired outside the enterprise. Clarify – which partners and suppliers help us
leverage our model? Who do we need to rely on?

10. Cost Structure: The bussines model elements result in the cost structure. Hence,
we need to clarify - What is the resulting cost structure of our business? Which
key elements drive our costs?

APPENDIX-2: The Business Model Canvas Template

 APPENDIX-3: The TOWS Matrix

(Source: H. Weihrich, (1982) “The TOWS Matrix a Tool for Situational Analysis,” Long Range Planning, 15(2), p. 54-66.)
APPENDIX-4: The TOWS Matrix – An Illustration of a Global QSR Brand