Assessment – – Business Modelling

The Business Model Canvas is a visual representation of your strategy, products you should offer, people you should focus on, paths you should take and resources you should use to make your own idea as successful as possible.

Taking the time to outline your model and explore it in detail enables you to commit to your first idea without the need to adapt or change it

Write a 300-word summary on what you learnt from the class and how you will implement this in your business.

The Business Model Canvas is useful for people looking to model or add/adapt structure to their organisation or idea

It’s best when the Business Model Canvas is completed by only one person so that everything is seen from the same perspective

The Business Model Canvas is a graphical, one-page framework that allows you to design, describe and/or challenge your business model

Business models provide the framework for creating value out of new ideas

Working with colleagues to give structure to an idea helps to draw out important risks and assumptions

The Business Model Canvas offers a single-page tool for thinking through the business and keeping the key points highly visible to you, your team, and other stakeholders