Inbound 8165849883204552870

Names: Dazo, Eleana Jean BES 120-BSCE 4A October 2, 2024
Laveros, Rusmar John
Tayco, Krysthyl Joy
Objective
To introduce students to the concept of the Business Model Canvas (BMC), its importance, and its key
components. This activity will help students build a foundation for creating their own business models
using the BMC framework.
Instructions:
Answer the following questions based on your understanding of the Business Model Canvas. Use
additional research if necessary to clarify any concepts.
1. What is a Business Model Canvas? Explain.
A Business Model Canvas is a strategic tool for visualizing and understanding the key constituents that
make up a business. It's actually like a blueprint of how a business might be creating, delivering, and
capturing value.
2. Why is the Business Model Canvas important?
The Business Model Canvas is very important for one to understand his business and have it succeed
well. It gives you a structured way of paying attention to key areas like what you are offering, whom you
are serving, how you make your money, and how much it costs to run your business. Such information
perfects a person's decisions and improves the business.
3. What are the Channels in the Business Model Canvas?
Channels can be said to be the means whereby customers find out and then obtain your product or
service. Online or in-store, or whatever other category of sources: good channels help you reach out to
more customers and make them happy.
4. Who are Key Partners in the Business Model Canvas?
Key Partners are businesses, or other people, who help your business. They can save you money,
increase customers to buy your products, distribute your products to new areas, or even help come up
with new ideas. Examples of partners can be a supplier, distributor, or another business. Good partners
will make your business better and help it grow and thrive.
5. What is the Value Proposition in the Business Model Canvas?
It refers to the value that makes your business unique. It is that factor which makes a certain person
choose you over the rest. To write a good Value Proposition, understand the needs of your customers,
differentiate what you are offering, and communicate properly.
6. What are Revenue Streams in the Business Model Canvas?
Revenue streams are the ways in which one generates revenue. There are different kinds of revenue, like
selling product, subscription charges, licensing your ideas, and selling ads. And depending on the forms
of revenue used by companies, they can be more stable and less risky in the view of any investor.
7. Who are Key Customers in the Business Model Canvas?
Customer Segments are the segments of people or organizations a business focuses its efforts on
targeting. Finding key customer segments can help a business to specifically develop products, services,
and marketing based on those needs in better ways.
8. What are Key Resources in the Business Model Canvas?
Key resources are the assets of a business that will be used to run the business. They may be physical,
intellectual, or human in nature. Examples include buildings and equipment, patents, brand recognition,
employees, and partners. These key resources assist the firm in creating its products or services,
generating revenue, gaining competitive advantages, and sustaining operations.
9. How does the Cost Structure affect the Business Model Canvas?
This refers to the expenditures that a firm makes during the course of conducting its business. These
might be related to production, operations, marketing, and several other entities. Profitability is the
result of balancing cost with revenue streams. Businesses will therefore continually try to optimize the
cost structure by finding cost-saving measures or by finding alternative revenue streams.
10. What are Customer Relationships in the Business Model Canvas?
Customer relationships, on the Business Model Canvas, are an expression of interactions and connection
a business holds with its customers. This is important for loyalty, repeat business, and other positive
word-of-mouth. Businesses can establish and maintain customer relationships through various
strategies, including:
Personal assistance: Dedicated support to customers via channels such as phone, email, or in person.
Automatic service - use of technology to make the performance of customer-to-company interaction

friction-less for example, through self-service portals, chatbots, or automated responses to emails
Customer Loyalty Programs - extending rewards and incentives to reinforce repeat business and loyalty
Community building: creating an online or offline community where customers can interact with other
customers as well as with the company itself.
Co-creation: engaging the customer in co-creating a product or design for better ownership and
connection.

Inbound 8165849883204552870

Uploaded by

Copyright:

Available Formats

Inbound 8165849883204552870

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Inbound 8165849883204552870

Uploaded by

Copyright:

Available Formats

Names: Dazo, Eleana Jean BES 120-BSCE 4A October 2, 2024

Laveros, Rusmar John

Tayco, Krysthyl Joy

1. What is a Business Model Canvas? Explain.

2. Why is the Business Model Canvas important?

3. What are the Channels in the Business Model Canvas?

4. Who are Key Partners in the Business Model Canvas?

5. What is the Value Proposition in the Business Model Canvas?

7. Who are Key Customers in the Business Model Canvas?

8. What are Key Resources in the Business Model Canvas?

10. What are Customer Relationships in the Business Model Canvas?

Automatic service - use of technology to make the performance of customer-to-company interaction

You might also like