Aim

“By business model, we understand the logic to create, deliver and capture value for the organisation.” Alexander Osterwalder, Yves Pigneur, 2010. Business Model Canvas (BMC) allows to develop an in-depth understanding of businesses and develop connections between what ideas are and how to transform ideas into a business.

It looks at what kinds of customer decisions influence the use of their systems and enables the management to quickly draw a picture of what the idea entails, a quick overview of the business model, and is devoid of unnecessary details compared to the traditional business plan. It also allows the organisational workforce to get a clear idea of what the business will likely be in the near to far future. One of the main benefits of BMC is that it makes the idea(s) of the management easier to refer to and understand. It is easier to edit, and it can be easily shared with employees and other key internal and external stakeholders. It clarifies how different aspects of the business are related to each other.

HE teachers while teaching this tool to students in the classroom will need to explain each of the nine dimensions (i.e., value proposition, customer segments, customer relationships, channels, key activities, key resources, key partners, revenue streams and cost structure) in detail. The overall aim of their lecture on BMC should be to explain the overall concept of BMC to students, then its use and applicability. In the following sections, teachers will get a greater understanding on what is this tool is about (general) and how it can be used within the classroom to make students understand the concept. HE teachers can use BMC to guide a brainstorming session on defining their business model effectively.