31/10/2022
Business Model Canvas ( BMC )
What do you know about BMC?
What does a BMC include?
Why use the Business Model Canvas?
What do you know about BMC?
The business model canvas is a strategic management tool that lets you visualize and assess your business idea or concept. It’s a one-page document containing nine blocks that represent different fundamental elements of a business.
The business model canvas beats the traditional business plan that spans across several pages, by offering a much easier way to understand the different core elements of a business on one page.
The actual business model canvas definition was first proposed by Alexander Osterwalder, a Swiss entrepreneur, and consultant, but has gone to be used around the world.
What does a business model canvas include?
The Canvas has nine elements , Together these elements provide a pretty coherent view of a business’ key drivers
You can learn about each of these nine blocks that build this great model by answering the questions shown in each block
1. Customer Segments:
Who are the customers?
What do they think? See? Feel? Do?
2. Value Propositions:
What are your products and services?
What Problem can you solve for your customers?
What are customers Need?
Why do customers buy, use?
3. Channels:
How do you communicate with your customer?
How are these propositions promoted, sold and delivered? Why? Is it working?
4. Customer Relationships:
How you Get, Keep, and Grow your customer?
How do you interact with the customer through their ‘journey’?
5. Revenue Streams:
Where does the money come from ?
How does the business earn revenue from the value propositions?
6. Key Activities:
What are the most important strategic things you must do to make the business model work?
7. Key Resources:
What unique strategic assets must the business have to compete?
8. Key Partnerships:
What can the company not do so it can focus on its Key Activities?
9. Cost Structure:
What are the business’ major cost drivers?
How are they linked to revenue?
Why use the Business Model Canvas?
1. The BMC provides a quick overview of the business model and is devoid of the unnecessary details compared to the traditional business plan.
2. The visual nature of the business model canvas makes it easier to refer to and understand by anyone.
3. It’s easier to edit and it can be easily shared with employees and stakeholders.
4. The business model canvas can be used by large corporations as well as startups with just a few employees.
5. It clarifies how different aspects of the business are related to each other.
6. You can use a BMC template to guide a brainstorming session on defining your business model effectively.
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Business Model Canvas ( BMC ) What do you know about BMC? What does a BMC include? Why use the Business Model Canvas? What do you know about BMC? ...
