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The Business Model Canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
Business model innovation is an iterative and potentially circular process. [ 1] A business model describes how an organization creates, delivers, and captures value, [ 2] in economic, social, cultural or other contexts. For a business, it describes the specific way in which it conducts itself, spends, and earns money in a way that generates ...
Business model patterns are reusable business model architectural components, which can be used in generating a new business model. [ 1] In the process of new business model generation, the business model innovator can use one or more of these patterns to creating a new business model. Each of these patterns has similarities in characteristics ...
Alexander Osterwalder and Yves Pigneur designed the Business Model Canvas. [ 16 ] [ 19 ] The Canvas is a tool to help entrepreneurs structure and plan their business models. [ 16 ] It is designed to change rapidly, highlight alternatives, promote a customer focus and encourage testing.
Alexander Osterwalder. Alexander Osterwalder at the Business of Software 2011 conference. Alexander Osterwalder (born 1974) is a Swiss business theorist, [ 1] author, speaker, consultant, and entrepreneur, known for his work on business modeling [ 2] and the development of the Business Model Canvas. [ 3]
The Business Model Canvas is a strategic management template invented by Alexander Osterwalder around 2008 for developing new business models or documenting existing ones. [28] It is a visual chart with elements describing a firm's value proposition, infrastructure, customers, and finances. It assists firms in aligning their activities by ...
The Business Model Canvas is used to map in the major components and activities for a company starting out. The minimum viable product can be designed by using selected components of the Business Model Canvas: Customers Customers on the Business Model Canvas denote to whom a value proposition is considered for. [23]
Product-market fit, also known as product/market fit, is the degree to which a product satisfies a strong market demand. Product-market fit has been defined by its inventor as "a unique product offering that people desperately want." [ 1] It is a first step to building a successful venture in which the company meets early adopters, gathers ...