Benefits

BMC facilitates managers in understanding a business model in a structured way. Using this canvas will lead to insights about the customers, what value propositions are offered through different channels, and how company makes money. Managers can also use the BMC to understand the ins and outs of their own organisational business model or that of their competitors.

Following are specific benefits of BMC that HE teachers can experience in a classroom setting:

It is vital to stay ahead of the curve and developing a BMC instead of a business plan is far more appropriate. This tool is a tried and tested methodology for innovating in both startups and large enterprises, and well accepted among the business and management scholars whilst teaching across universities. The nine key features of BMC help business managers document an in-depth, succinct, and clear definition of their business. By focusing on facets besides product development, BMC also offers a competitive edge to launch a profitable startup.