Business Model Canvas?- Template and Intro’ resource with all nine sections completed and an accompanying 500-750-word summary of the business model canvas. The written summary should i
The purpose of this assignment is to create an updated version of the business model canvas template and summary.
Utilize the "Business Model Canvas – Template and Intro" resource for your assignment. Completion of this assignment will include a completed "Business Model Canvas - Template and Intro" resource with all nine sections completed and an accompanying 500-750-word summary of the business model canvas. The written summary should include an improved hypothesis and persona.
There are two deliverables for this task: the updated business model canvas template and the written summary of the business model canvas. You may submit these separately or combine them into one document.
The assignment must include at least five references.
APA style is required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines.
| Key Partnerships | Key Activities | Value Proposition | Customer Relationships | Customer Segments |
| Cost Structure | Key Resources | Channels | Revenue Streams |
Business Model Canvas – Intro and Template
What is BMC? – It is a one-page template summarizing key aspects of business.
What does it look like? – It is a grid of nine boxes, each one addressing a key aspect of business (see diagram below).
How do I complete the nine boxes? – Slide 2 details information required for each box.
Why is it arranged like that? – Value proposition is critical to success, so it is centered. The four left-side boxes focus on operations. The four right-side boxes focus on customers.
What do I do next?
Slide 3 is a blank template for you to complete.
Complete Slide 3 addressing Slide 2 questions.
Template has three bulleted key elements for each box. Your business may have more or fewer key elements in each box. Add or delete as needed.
Write a summary (just a few words) for each key element.
Save Slide 3 as PDF or PowerPoint document using new file name and submit to instructor.
1
Project Name
Key Partnerships
Who will help you?
Who are the people outside of your organization that you need to work with?
What are the most important motivations for the partnerships that you are seeking?
Customer Relationships
How do you interact?
What relationship does the target audience expect you to establish?
How can you integrate that into your work in terms of cost and format?
Key Activities
How do you do it?
What key activities does your value proposition require you to do internally?
What activities are most important for your distribution channels, customer relationships, and revenue streams?
Value Proposition
What do you do?
What core value do you deliver to your customer?
What unmet needs are you satisfying?
What problem are you solving?
In addition to the financial value, what higher purpose does your innovation serve?
Customer Segments
Who do you help?
Which customer groups are you creating value for?
Who is your most important customer?
Cost Structure
What will it cost?
What are the most important costs in your work?
What key resources/activities are most expensive?
What are the key deadlines or time constraints?
Revenue Streams
How much will you make?
For what value are your audiences willing to pay?
What and how do they pay?
How would they prefer to pay?
How much does every revenue stream contribute to the overall revenue?
Distribution Channels
How do you reach them?
Through which channel does your audience want to be reached?
Which channels work best?
How much do they cost?
How can they be integrated into your and your audiences' routines?
Key Resources
What do you need?
What key resources does your value proposition require?
Where can you obtain these resources?
2
Student
Key Partnerships
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Customer Relationships
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Key Activities
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Value Proposition
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Customer Segments
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Cost Structure
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Revenue Streams
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Distribution Channels
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Key Resources
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Project
3
,
| Key Partnerships | Key Activities | Value Proposition | Customer Relationships | Customer Segments |
| Cost Structure | Key Resources | Channels | Revenue Streams |
Business Model Canvas – Intro and Template
What is BMC? – It is a one-page template summarizing key aspects of business.
What does it look like? – It is a grid of nine boxes, each one addressing a key aspect of business (see diagram below).
How do I complete the nine boxes? – Slide 2 details information required for each box.
Why is it arranged like that? – Value proposition is critical to success, so it is centered. The four left-side boxes focus on operations. The four right-side boxes focus on customers.
What do I do next?
Slide 3 is a blank template for you to complete.
Complete Slide 3 addressing Slide 2 questions.
Template has three bulleted key elements for each box. Your business may have more or fewer key elements in each box. Add or delete as needed.
Write a summary (just a few words) for each key element.
Save Slide 3 as PDF or PowerPoint document using new file name and submit to instructor.
1
Project Name
Key Partnerships
Who will help you?
Who are the people outside of your organization that you need to work with?
What are the most important motivations for the partnerships that you are seeking?
Customer Relationships
How do you interact?
What relationship does the target audience expect you to establish?
How can you integrate that into your work in terms of cost and format?
Key Activities
How do you do it?
What key activities does your value proposition require you to do internally?
What activities are most important for your distribution channels, customer relationships, and revenue streams?
Value Proposition
What do you do?
What core value do you deliver to your customer?
What unmet needs are you satisfying?
What problem are you solving?
In addition to the financial value, what higher purpose does your innovation serve?
Customer Segments
Who do you help?
Which customer groups are you creating value for?
Who is your most important customer?
Cost Structure
What will it cost?
What are the most important costs in your work?
What key resources/activities are most expensive?
What are the key deadlines or time constraints?
Revenue Streams
How much will you make?
For what value are your audiences willing to pay?
What and how do they pay?
How would they prefer to pay?
How much does every revenue stream contribute to the overall revenue?
Distribution Channels
How do you reach them?
Through which channel does your audience want to be reached?
Which channels work best?
How much do they cost?
How can they be integrated into your and your audiences' routines?
Key Resources
What do you need?
What key resources does your value proposition require?
Where can you obtain these resources?
2
Student
Key Partnerships
In order to test my hypothesis, I will need data on inflation rates, interest rates, and treasury bonds. The Federal Reserve Bank is the best source for this data.
I will also need data on consumer prices. Banks are a good source for this data.
I will need to partner with academic institutions in order to gain access to their research on economics and inflation.
Customer Relationships
The target audience for this hypothesis would expect me to establish a clear and concise relationship between inflation, interest rates, and treasury bonds and their impacts on the cost of living.
I will integrate this into my work by including data and charts to help illustrate the relationships between these variables.
Key Activities
In order to test my hypothesis, I will need to collect data on inflation rates, interest rates, treasury bonds, and consumer prices.
I will need to analyze the data.
I will need to do research on economics and inflation to better understand the phenomenon.
Value Proposition
The core value that I deliver to my customers is the ability to make better financial decisions.
I do this by helping them understand and predict the financial impact of different scenarios.
I also help them manage their money in a way that improves their financial well-being.
I am satisfying the unmet need for financial education and guidance.
I am also solving the problem of people not having access to quality financial advice.
In addition to the financial value, my innovation serves the higher purpose of helping people improve their lives.
Customer Segments
The customer segments for this business model are individuals and businesses.
The most important customer group is businesses, as they are the ones who drive economic activity and are most affected by inflation.
Cost Structure
The cost of collecting data on inflation rates, interest rates, treasury bonds, and consumer prices can be expensive.
There is a lot of data to collect and analyze, so this will take a significant amount of time.
Conducting research on economics and inflation can be costly.
Revenue Streams
The audiences for this business model are people who are interested in reducing the impacts of inflation on the cost of living.
They are willing to pay for products and services that can help them do this.
They would prefer to pay for these products and services on a monthly basis.
The revenue streams for this business model include subscription fees, advertising, and commissions on sales of products and services that help reduce the cost of living.
Distribution Channels
The best way to reach my audience is definitely through social media.
It's quick, easy, and most importantly, cost-effective.
You can reach a large number of people through social media platforms like Facebook, Twitter, and Instagram.
Plus, it's easy to integrate into your audience's routines since most people are already on social media every day.
Key Resources
In order to test my hypothesis, I will need data on inflation rates, interest rates, and treasury bonds.
I will also need data on consumer prices.
I will need to partner with academic institutions in order to gain access to their research on economics and inflation.
Project
3
,
1
2
Summary Of the Business Model Canvas
Student’s Name
Department/ Faculty
Professor’s Name
Course Code & Name
Date
Summary Of the Business Model Canvas
The Business Model Canvas is a tool that helps entrepreneurs and innovators create and communicate their business models. It is a visual representation of the critical components of a business, including the value proposition, key partners, key activities, essential resources, cost structure, customer relationships, customer segments, and revenue streams. The Business Model Canvas can create or improve new businesses (Fisher et al., 2020). The value proposition is the core value that a business delivers to its customers. In this case, the value proposition is the ability to make better financial decisions. This is delivered by helping customers understand and predict the financial impact of different scenarios. The business also helps customers manage their money in a way that improves their financial well-being.
The key partners are the people outside the organization that the business needs to work with to be successful. In this case, the key partners are the Federal Reserve Bank, banks, and academic institutions. The Federal Reserve Bank is the best source for data on inflation rates, interest rates, and treasury bonds. Banks are a good data source on consumer prices (Pratama & Iijima, 2018). Academic institutions are a good source of research on economics and inflation. The key activities are the activities that are most important for the business to do in order to be successful. In this case, the key activities are data collection, analysis, and research. Data collection is necessary in order to test the hypothesis. Data analysis is necessary to see if there is a correlation between inflation and the cost of living. Research is necessary to understand the phenomenon better.
The resources that are most essential for the company to have in order to ensure its continued success are referred to as the essential resources. In this particular instance, the most critical resources are the data and the research. Gathering the appropriate data to test the hypothesis is essential. Research is required if we are going to get a better grasp of the phenomenon. The company's cost structure is the most significant cost factor in the operation. In this scenario, the expenditures of data, time, and research are among the most significant. Collecting and analyzing data is an expensive endeavor. Because there are many of data to collect and analyze, time is a precious resource (Pratama & Iijima, 2018). The cost of carrying out research can be high. An organization's relationships with its clients or patrons are referred to as customer relationships. In this situation, the client connections consist of receiving financial education and direction. The company offers these services to assist consumers in making wiser choices regarding their finances.
The client segments represent the different groups of individuals for whom the company generates value. In this particular scenario, the consumer categories consist of private individuals and commercial enterprises (Fisher et al., 2020). Companies are the essential customers since they are the ones who fuel economic activity and are most affected by inflation. Because of this, businesses are an essential client category. The various avenues through which the company generates revenue are referred to here. In this scenario, the sources of revenue are membership fees, advertising revenue, and commissions on sales of products and services that assist in lowering the overall cost of living.
References
Fisher, G., Wisneski, J. E., & Bakker, R. M. (2020). Business model canvas. Strategy in 3D, 174–184. https://doi.org/10.1093/oso/9780190081478.003.0019
Pratama, N. R., & Iijima, J. (2018). Demo construction model generation process from the business model canvas. Proceedings of the 20th International Conference on Enterprise Information Systems. https://doi.org/10.5220/0006805503840392
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