Zaur AICo-founder of openincubator.ie | Student Entrepreneurship Programme Manager @TCD

The Business Model In Context

Name: The Business Model In Context
Uploaded: 2017-06-01T04:59:08+00:00
Duration: 1 min 38 s
Channel: Zaur AI
Description: A short spoken presentation explaining that the nine building blocks of the Business Model Canvas are the elements a company controls (customers, value…

1 Jun 2017 · 2 min

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1:38

A short spoken presentation explaining that the nine building blocks of the Business Model Canvas are the elements a company controls (customers, value propositions, channels, resources, activities). The speaker emphasizes that business models exist within a wider design environment — competitors, changing customer needs, technology and legal trends, and macroeconomic forces — and argues that successful design requires continuous adaptation and reconfiguration of the canvas to those external changes.

Chapters

The9 business model building blocks of the business model canvas are the elements you have control over. You decide which customers you're targeting, what you're offering them, how you're reaching them, and what resources and activities you need to achieve that. These decisions are part of the business model design process. Of course, no business model is designed in a vacuum. It is designed in an environment. The business model design environment. There will be competitors which have their own business models with strengths and weaknesses. Your customers, needs, jobs and desires will change over time. Technology trends and legal trends will create opportunities and constraints for your business model. The overall state of the economy, the availability of capital and skilled people might influence the feasibility of your business model. Understanding the business model environment will enable you to design better business models. Competitors are usually a threat to your model. A technology trend can be an opportunity or a threat. The legal context is a design constraint. Ever changing customer needs must be discovered and addressed. Macroeconomic forces will affect costs, revenues and more. Masters of business model design understand that it is a continuous dance between adaptations and reconfigurations of the nine building blocks and the never ending changes of the business model design environment. How will you adapt to yours?