With the advent of technology, and the ever-changing financial landscape, it is easy to lose sight of the bigger picture. It is easy to forget how all the smaller details end up contributing to the relationships and structure of an organization.
There is a growing need for adaptive managers that are able to innovate and change their business to maximize productivity and effectiveness in their organization.
"Business model innovation and new value propostitions are very relevant topics today because business models expire like yogurt in the fridge. It's a competitive world out there, so there is no stopping anymore."
Dr. Alex Osterwalder, co-author of Business Model Generation, proposed the Business Model Canvas as a solution for companies who are seeking to innovate their business models to best fit their industry. Osterwalder's goal with the Business Model Canvas is to help companies obtain the best tools to innovate their business models and value propositions. The program does not only help for strategic planning and model-building, it also helps support innovation, merger and aquisitions, and decisions on investments.
The Business Model Canvas uses a shared and practical language to help executives and entrepeneurs visualize and outline their business model. It consists of nine questions or building blocks that provide an organization tool for a firm's infrastructure, product value proposition, customers and finances. It helps address the following questions:
- Who are you targeting? Customer segment?
- What value are you creating? Value proposition?
- How do you reach this market? Channels to customer?
- What kind of relationship will you establish? Transactional or long term?
- What are your deliverables? Products and services?
- How will you deliver value?
- What are your customers willing to pay? Revenue streams?
As such, the Business Model Canvas helps managers keep sight of the "bigger picture" and thus gage their resources, key strengths and risks to develop the most beneficial and effective innovative business model.
The Business Model Canvas has gained widespread industry acceptance, and is rapidly gaining global popularity as it has been used by corporates like Proctor & Gamble, Mastercard, Stanford University and others.
Click here to learn more about the Business Model Canvas, and about Dr. Alex's Osterwalder's opinion on the importance of its implementation.
KNOLSKAPE's day-long 'Big Picture Thinking' program provides an opportunity for participants to think at a big picture level, understand the moving parts of businesses, their relationships and structure using the industry acclaimed Business Model Canvas. Participants solve a case study based on their industry using a took-kit offered through our AktivCase platform. This allows them to analyze their own organization and understand value creation better.
Though this program, participants are able to:
- Bring in innovative ideas for constructing new business models
- Unlock potential in the existing model through enhanced value or reduction in cost or both
- Drive shared vision with the organization
YOU MAY ALSO LIKE:
Published by: Hardik Chitroda in Blog