It assists firms in aligning their activities by illustrating potential trade-offs. Since the release of Osterwalder’s work in 2008, new canvases for specific niches have appeared. Formal descriptions of the business become the building business models business strategy and innovation pdf for its activities. Key Activities: The most important activities in executing a company’s value proposition.
An example for Bic, the pen manufacturer, would be creating an efficient supply chain to drive down costs. Key Resources: The resources that are necessary to create value for the customer. They are considered an asset to a company, which are needed in order to sustain and support the business. These resources could be human, financial, physical and intellectual.
Partner Network: In order to optimize operations and reduce risks of a business model, organization usually cultivate buyer-supplier relationships so they can focus on their core activity. Complementary business alliances also can be considered through joint ventures, strategic alliances between competitors or non-competitors. The collection of products and services a business offers to meet the needs of its customers. Customer Segments: To build an effective business model, a company must identify which customers it tries to serve.