METHOD: Business Model Canvas

BUSINESS MODEL CANVAS

A lean start-up and strategic
management template, used to
develop new business models or to
document existing business models.
Why: By illustrating potential trade - offs, it helps firms align their
activities.
How: Business Model Canvas provides a visual chart with elements that
describe the infrastructure, value proposition, finances of a company or
product and customers (Vial, 2016).
Advantages

 It helps in structuring the discussion related to the business and

thus guides brainstorming
 It is a quick action to find out if the idea is working
 It is helpful in developing the portfolio of ideas
 It evaluates the problems of business and provide ideas to
overcome those before even starting the business

Challenges

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 It don’t include the important business aspects like competitors

and liquidity
 The business model is not updated regularly
 Used often without incorporating it into the appropriate methods
 Could be limited to a basic checklist (Wicaksono, Syarief &
Suparno, 2017)

SOURCES:
Vial, V. (2016). A Business Model Canvas for Social Enterprises. Sains Humanika, 8(1-2).
doi: 10.11113/sh.v8n1-2.825
Wicaksono, A., Syarief, R., & Suparno, O. (2017). BUSINESS MODEL IN ELECTRICITY
INDUSTRY USING BUSINESS MODEL CANVAS APPROACH; THE CASE OF PT.
PHASE: IDEA GENERATION XYZ. Indonesian Journal Of Business And Entrepreneurship, 3(1), 52-63. doi:
10.17358/ijbe.3.1.52

Your name, Student number

 METHOD: SWOT Analysis
SWOT ANALYSIS
Approach and goals

SWOT analysis helps in evaluating the strengths and weaknesses of the

It describes the strength, business model, and also will help in analysing the potential opportunities
weakness, potential and possible threats for the business, according to the business model
canvas designed for an organization.
opportunities and possible
threat of a business model Selection of the Business Model

The SWOT analysis will not only help in evaluating the business model of
an organization but will also help in selecting the better business model
by calculating the risk factors present in the models and possibilities of
growth in an organization (Regina & Alfanur, 2016).

Certain factors to analyse while selecting business model are:

 The future probability of profit from the business model or the

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ability of the business model

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 Comprehensiveness or how thoroughly it covers the entire scope

to which it is intended
 Sustainability or the business model can be maintained at a
consistent rate or not (Keane, Cormican & Sheahan, 2018)

PHASE: IDEA EVALUATION and SELECTION
SOURCES:
Keane, S., Cormican, K., & Sheahan, J. (2018). Comparing how entrepreneurs and
managers represent the elements of the business model canvas. Journal Of Business
Venturing Insights, 9, 65-74. doi: 10.1016/j.jbvi.2018.02.004
Regina, R., & Alfanur, F. (2016). Business Model Analysis of TKD Consumer to Consumer
(C2C) Online Marketplace by Using Business Model Canvas. Advanced Science
Letters, 22(5), 1222-1226. doi: 10.1166/asl.2016.6717

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