The Business Model Canvas

Why the Business Model Canvas in your thesis?

The Business Model Canvas is a versatile model. You can apply the model for your internal analysis, zooming in on an organization's business operations. Ideal also for smaller organizations, such as start-ups or scale-ups, where less information is often available. With the canvas you can easily map the organizational structure, collaboration partners, distribution channels, customer segments, value proposition, cost structure and revenue model. Moreover, it is a valuable instrument for developing or optimizing a business model.

How do you apply the Business Model Canvas in your thesis?

• Start by downloading Strategyzer's Business Model Canvas.
• Conduct a thorough analysis of the market in which your client operates. View relevant trends and research the competition. Use desk research for this. Then identify the customer and their needs. Ferrell's 6W model can be a useful tool for this.
• Schedule a session with your client to develop the canvas. During this session you will record the current situation and go through the nine building blocks below. The questions you can ask about the different building blocks are listed below. If you apply the Business Model in your thesis, it is also useful to record the session, transcribe the results and take photos of the outcomes. You can also mention the session in your method chapter. After recording the current situation, you can jointly look at important bottlenecks, possible opportunities and points for improvement.

The nine building blocks of the Business Model Canvas explained:

The Business Model Canvas works with the following 9 building blocks:

1. Customer Segments: These are the different target groups that the organization serves, based on characteristics such as demographics and behavior.
2. Value Proposition: This is about the proposition and added value that you offer to customers. How do you respond to their problems (pain) and create benefits (gain)? The Value Proposition Canvas is often used to map out the value proposition.
3. Channels: The ways your value proposition is delivered to customers, including marketing, contact, and sales channels.
4. Customer Relationships: How relationships with customers are built and maintained, ranging from personal to automated.
5. Revenue Streams: How you make money with your customer segments, or your revenue model.
6. Key Resources: Key assets required for the business model, such as physical assets, intellectual property, and personnel.
7. Key Activities: The main activities that the organization undertakes to achieve its goals.
8. Key Partnerships: External parties with whom we collaborate to support the business model.
9. Cost Structure: The costs associated with the business model, including fixed and variable costs.

Questions you can ask per building block

To map the Business Model Canvas, it is important to surface the right questions per quadrant. We have written out the questions per building block for you below.

Key Partners:

• Who are the most important partners?
• What role do these partners play?

Key Activities:

• What are the main activities of the organization?
• How does the organization attract new customers?
• What does the organization do to retain its existing customers?

Key Resources:

• What resources does the organization need for a successful value proposition?

Value Proposition:

• What value does the organization deliver now? And where is the distinctive character?
• What problem is the organization trying to solve for its customers?

Customer Relationship:

• What does the relationship between the organization and its customers look like now?
• What should the relationship look like between the organization and its customers?

Channels:

• Which channels does the organization use to sell its products and services?
• How and through which communication channels does the organization stay in touch with its customers?

Customer Segments:

What are the most important customer groups?

And what does the organization know about these customer groups?

Cost structure:

• Where are the costs incurred in the current business model?
• What are the most expensive key activities and key resources?
• Where are the largest expenses?

Revenue Streams:

What value proposition are customers willing to pay for? And in what way?

From analysis to value creation: Jouw Scriptiecoach will guide you through the Business Model Canvas

Will you work on design-oriented research or will you apply the model for internal analysis? Completing the Business Model Canvas in concrete terms can be quite challenging. At Jouw Scriptiecoach, our team is ready to provide you with expert guidance. So, if you want to get started with the Business Model Canvas, we are here to help!