hr business model canvas

The Business Model Canvas

The Business Model Canvas is a strategic management and entrepreneurial tool. It allows you to describe, design, challenge, invent, and pivot your business model. This method from the bestselling management book Business Model Generation is applied in leading organizations and start-ups worldwide.

hr business model canvas

The Business Model Canvas enables you to:

  • Visualize and communicate a simple story of your existing business model.
  • Use the canvas to design new business models, whether you are a start-up or an existing businessManage a portfolio of business models
  • You can use the canvas to easily juggle between "Explore" and "Exploit" business models.

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The Business Model Canvas

Mastering business models

A self-paced online course with 
Alex Osterwalder and Yves Pigneur.

Are you trying to improve your existing business model? Or trying to create a new one that can compete in today’s market?

hr business model canvas

HR Business Model Canvas

The pressure on HR to create value to an organization increases. A business model describes the basis of how an organization creates, delivers and preserves value. Applied to HR, an HR business model describes that basis for the HR domain. In order to ensure that the description a discussion is facilitated, the Business Model Canvas is applied. The Business Model Canvas consists of nine basic building blocks that show the logic of how a company wants to make money. Applied to HR, the HR Business Model Canvas shows how HR deals with its budget and thus demonstrates its added value. The business model is like a blueprint for a (HR) strategy that will be implemented by organisational structures, processes and systems.

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Business Model Canvas: Explained with Examples

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Got a new business idea, but don’t know how to put it to work? Want to improve your existing business model? Overwhelmed by writing your business plan? There is a one-page technique that can provide you the solution you are looking for, and that’s the business model canvas.

In this guide, you’ll have the Business Model Canvas explained, along with steps on how to create one. All business model canvas examples in the post can be edited online.

What is a Business Model Canvas

A business model is simply a plan describing how a business intends to make money. It explains who your customer base is and how you deliver value to them and the related details of financing. And the business model canvas lets you define these different components on a single page.   

The Business Model Canvas is a strategic management tool that lets you visualize and assess your business idea or concept. It’s a one-page document containing nine boxes that represent different fundamental elements of a business.  

The business model canvas beats the traditional business plan that spans across several pages, by offering a much easier way to understand the different core elements of a business.

The right side of the canvas focuses on the customer or the market (external factors that are not under your control) while the left side of the canvas focuses on the business (internal factors that are mostly under your control). In the middle, you get the value propositions that represent the exchange of value between your business and your customers.

The business model canvas was originally developed by Alex Osterwalder and Yves Pigneur and introduced in their book ‘ Business Model Generation ’ as a visual framework for planning, developing and testing the business model(s) of an organization.

Business Model Canvas Explained

What Are the Benefits of Using a Business Model Canvas

Why do you need a business model canvas? The answer is simple. The business model canvas offers several benefits for businesses and entrepreneurs. It is a valuable tool and provides a visual and structured approach to designing, analyzing, optimizing, and communicating your business model.

  • The business model canvas provides a comprehensive overview of a business model’s essential aspects. The BMC provides a quick outline of the business model and is devoid of unnecessary details compared to the traditional business plan.
  • The comprehensive overview also ensures that the team considers all required components of their business model and can identify gaps or areas for improvement.
  • The BMC allows the team to have a holistic and shared understanding of the business model while enabling them to align and collaborate effectively.
  • The visual nature of the business model canvas makes it easier to refer to and understand by anyone. The business model canvas combines all vital business model elements in a single, easy-to-understand canvas.
  • The BMC can be considered a strategic analysis tool as it enables you to examine a business model’s strengths, weaknesses, opportunities, and challenges.
  • It’s easier to edit and can be easily shared with employees and stakeholders.
  • The BMC is a flexible and adaptable tool that can be updated and revised as the business evolves. Keep your business agile and responsive to market changes and customer needs.
  • The business model canvas can be used by large corporations and startups with just a few employees.
  • The business model canvas effectively facilitates discussions among team members, investors, partners, customers, and other stakeholders. It clarifies how different aspects of the business are related and ensures a shared understanding of the business model.
  • You can use a BMC template to facilitate discussions and guide brainstorming brainstorming sessions to generate insights and ideas to refine the business model and make strategic decisions.
  • The BMC is action-oriented, encouraging businesses to identify activities and initiatives to improve their business model to drive business growth.
  • A business model canvas provides a structured approach for businesses to explore possibilities and experiment with new ideas. This encourages creativity and innovation, which in turn encourages team members to think outside the box.

How to Make a Business Model Canvas

Here’s a step-by-step guide on how to create a business canvas model.

Step 1: Gather your team and the required material Bring a team or a group of people from your company together to collaborate. It is better to bring in a diverse group to cover all aspects.

While you can create a business model canvas with whiteboards, sticky notes, and markers, using an online platform like Creately will ensure that your work can be accessed from anywhere, anytime. Create a workspace in Creately and provide editing/reviewing permission to start.

Step 2: Set the context Clearly define the purpose and the scope of what you want to map out and visualize in the business model canvas. Narrow down the business or idea you want to analyze with the team and its context.

Step 3: Draw the canvas Divide the workspace into nine equal sections to represent the nine building blocks of the business model canvas.

Step 4: Identify the key building blocks Label each section as customer segment, value proposition, channels, customer relationships, revenue streams, key resources, key activities, and cost structure.

Step 5: Fill in the canvas Work with your team to fill in each section of the canvas with relevant information. You can use data, keywords, diagrams, and more to represent ideas and concepts.

Step 6: Analyze and iterate Once your team has filled in the business model canvas, analyze the relationships to identify strengths, weaknesses, opportunities, and challenges. Discuss improvements and make adjustments as necessary.

Step 7: Finalize Finalize and use the model as a visual reference to communicate and align your business model with stakeholders. You can also use the model to make informed and strategic decisions and guide your business.

What are the Key Building Blocks of the Business Model Canvas?

There are nine building blocks in the business model canvas and they are:

Customer Segments

Customer relationships, revenue streams, key activities, key resources, key partners, cost structure.

  • Value Proposition

When filling out a Business Model Canvas, you will brainstorm and conduct research on each of these elements. The data you collect can be placed in each relevant section of the canvas. So have a business model canvas ready when you start the exercise.  

Business Model Canvas Template

Let’s look into what the 9 components of the BMC are in more detail.

These are the groups of people or companies that you are trying to target and sell your product or service to.

Segmenting your customers based on similarities such as geographical area, gender, age, behaviors, interests, etc. gives you the opportunity to better serve their needs, specifically by customizing the solution you are providing them.

After a thorough analysis of your customer segments, you can determine who you should serve and ignore. Then create customer personas for each of the selected customer segments.

Customer Persona Template for Business Model Canvas Explained

There are different customer segments a business model can target and they are;

  • Mass market: A business model that focuses on mass markets doesn’t group its customers into segments. Instead, it focuses on the general population or a large group of people with similar needs. For example, a product like a phone.  
  • Niche market: Here the focus is centered on a specific group of people with unique needs and traits. Here the value propositions, distribution channels, and customer relationships should be customized to meet their specific requirements. An example would be buyers of sports shoes.
  • Segmented: Based on slightly different needs, there could be different groups within the main customer segment. Accordingly, you can create different value propositions, distribution channels, etc. to meet the different needs of these segments.
  • Diversified: A diversified market segment includes customers with very different needs.
  • Multi-sided markets: this includes interdependent customer segments. For example, a credit card company caters to both their credit card holders as well as merchants who accept those cards.

Use STP Model templates for segmenting your market and developing ideal marketing campaigns

Visualize, assess, and update your business model. Collaborate on brainstorming with your team on your next business model innovation.

In this section, you need to establish the type of relationship you will have with each of your customer segments or how you will interact with them throughout their journey with your company.

There are several types of customer relationships

  • Personal assistance: you interact with the customer in person or by email, through phone call or other means.
  • Dedicated personal assistance: you assign a dedicated customer representative to an individual customer.  
  • Self-service: here you maintain no relationship with the customer, but provides what the customer needs to help themselves.
  • Automated services: this includes automated processes or machinery that helps customers perform services themselves.
  • Communities: these include online communities where customers can help each other solve their own problems with regard to the product or service.
  • Co-creation: here the company allows the customer to get involved in the designing or development of the product. For example, YouTube has given its users the opportunity to create content for its audience.

You can understand the kind of relationship your customer has with your company through a customer journey map . It will help you identify the different stages your customers go through when interacting with your company. And it will help you make sense of how to acquire, retain and grow your customers.

Customer Journey Map

This block is to describe how your company will communicate with and reach out to your customers. Channels are the touchpoints that let your customers connect with your company.

Channels play a role in raising awareness of your product or service among customers and delivering your value propositions to them. Channels can also be used to allow customers the avenue to buy products or services and offer post-purchase support.

There are two types of channels

  • Owned channels: company website, social media sites, in-house sales, etc.
  • Partner channels: partner-owned websites, wholesale distribution, retail, etc.

Revenues streams are the sources from which a company generates money by selling their product or service to the customers. And in this block, you should describe how you will earn revenue from your value propositions.  

A revenue stream can belong to one of the following revenue models,

  • Transaction-based revenue: made from customers who make a one-time payment
  • Recurring revenue: made from ongoing payments for continuing services or post-sale services

There are several ways you can generate revenue from

  • Asset sales: by selling the rights of ownership for a product to a buyer
  • Usage fee: by charging the customer for the use of its product or service
  • Subscription fee: by charging the customer for using its product regularly and consistently
  • Lending/ leasing/ renting: the customer pays to get exclusive rights to use an asset for a fixed period of time
  • Licensing: customer pays to get permission to use the company’s intellectual property
  • Brokerage fees: revenue generated by acting as an intermediary between two or more parties
  • Advertising: by charging the customer to advertise a product, service or brand using company platforms

What are the activities/ tasks that need to be completed to fulfill your business purpose? In this section, you should list down all the key activities you need to do to make your business model work.

These key activities should focus on fulfilling its value proposition, reaching customer segments and maintaining customer relationships, and generating revenue.

There are 3 categories of key activities;

  • Production: designing, manufacturing and delivering a product in significant quantities and/ or of superior quality.
  • Problem-solving: finding new solutions to individual problems faced by customers.
  • Platform/ network: Creating and maintaining platforms. For example, Microsoft provides a reliable operating system to support third-party software products.

This is where you list down which key resources or the main inputs you need to carry out your key activities in order to create your value proposition.

There are several types of key resources and they are

  • Human (employees)
  • Financial (cash, lines of credit, etc.)
  • Intellectual (brand, patents, IP, copyright)
  • Physical (equipment, inventory, buildings)

Key partners are the external companies or suppliers that will help you carry out your key activities. These partnerships are forged in oder to reduce risks and acquire resources.

Types of partnerships are

  • Strategic alliance: partnership between non-competitors
  • Coopetition: strategic partnership between partners
  • Joint ventures: partners developing a new business
  • Buyer-supplier relationships: ensure reliable supplies

In this block, you identify all the costs associated with operating your business model.

You’ll need to focus on evaluating the cost of creating and delivering your value propositions, creating revenue streams, and maintaining customer relationships. And this will be easier to do so once you have defined your key resources, activities, and partners.  

Businesses can either be cost-driven (focuses on minimizing costs whenever possible) and value-driven (focuses on providing maximum value to the customer).

Value Propositions

This is the building block that is at the heart of the business model canvas. And it represents your unique solution (product or service) for a problem faced by a customer segment, or that creates value for the customer segment.

A value proposition should be unique or should be different from that of your competitors. If you are offering a new product, it should be innovative and disruptive. And if you are offering a product that already exists in the market, it should stand out with new features and attributes.

Value propositions can be either quantitative (price and speed of service) or qualitative (customer experience or design).

Value Proposition Canvas

What to Avoid When Creating a Business Model Canvas

One thing to remember when creating a business model canvas is that it is a concise and focused document. It is designed to capture key elements of a business model and, as such, should not include detailed information. Some of the items to avoid include,

  • Detailed financial projections such as revenue forecasts, cost breakdowns, and financial ratios. Revenue streams and cost structure should be represented at a high level, providing an overview rather than detailed projections.
  • Detailed operational processes such as standard operating procedures of a business. The BMC focuses on the strategic and conceptual aspects.
  • Comprehensive marketing or sales strategies. The business model canvas does not provide space for comprehensive marketing or sales strategies. These should be included in marketing or sales plans, which allow you to expand into more details.
  • Legal or regulatory details such as intellectual property, licensing agreements, or compliance requirements. As these require more detailed and specialized attention, they are better suited to be addressed in separate legal or regulatory documents.
  • Long-term strategic goals or vision statements. While the canvas helps to align the business model with the overall strategy, it should focus on the immediate and tangible aspects.
  • Irrelevant or unnecessary information that does not directly relate to the business model. Including extra or unnecessary information can clutter the BMC and make it less effective in communicating the core elements.

What Are Your Thoughts on the Business Model Canvas?

Once you have completed your business model canvas, you can share it with your organization and stakeholders and get their feedback as well. The business model canvas is a living document, therefore after completing it you need to revisit and ensure that it is relevant, updated and accurate.

What best practices do you follow when creating a business model canvas? Do share your tips with us in the comments section below.

Join over thousands of organizations that use Creately to brainstorm, plan, analyze, and execute their projects successfully.

FAQs About the Business Model Canvas

  • Use clear and concise language
  • Use visual-aids
  • Customize for your audience
  • Highlight key insights
  • Be open to feedback and discussion

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Amanda Athuraliya is the communication specialist/content writer at Creately, online diagramming and collaboration tool. She is an avid reader, a budding writer and a passionate researcher who loves to write about all kinds of topics.

The 9-Step Business Model Canvas Explained (2023 Update)

hr business model canvas

Written by Raquel Alberdi

Business | entrepreneurship, 16 comments(s).

Business Model Canvas

Blog » The 9-Step Business Model Canvas Explained (2023 Update)

hr business model canvas

“A major mistake made by many start-ups around the world is focusing on the technology, the software, the product, and the design, but neglecting to ever figure out the business . And by “business” we simply mean how the company makes money by acquiring and serving its customers”.

-Reid Hoffman

After meeting with hundreds of entrepreneurs and business owners over the years I believe the LinkedIn co-founder and Blitzscaling author Reid Hoffman’s got it spot on.

People tend to focus on specific parts of their business, such as which software packages are being used, which is the cheapest supplier, how to optimize internal processes…?

They get so bogged down in the details of the day-to-day running that they lose the overall vision of their business.

Without this vision they are unable to scale, they make marginal profits, miss opportunities, struggle to innovate, and end up running “just another” business.

Another handy metaphor in understanding this common mistake is the soldier in the trenches .

Every meter of ground gained comes at a heavy cost, mistakes are made, and progress is hard-fought and slow…a day-to-day experience for 99% of entrepreneurs and businessmen.

But when you do have that 360 vision you see the entire battlefield. Decisions are much clearer, fewer mistakes are made, and progress is fast and methodical.

Fortunately, a business model framework exists that gives you both vision and clarity .

The Business Model Canvas provides entrepreneurs, business owners, and strategists with a tool to analyze, structure, and evolve a business while always keeping the bigger picture front of mind.

So let’s take a closer look at how it works.

Table of Content

What is the Business Model Canvas?

Created by Swiss entrepreneur and Strategyzer co-founder, Alexander Osterwalder, the Business Model Canvas is a visual representation of the 9 key building blocks that form the foundations of every successful business. It’s a blueprint to help entrepreneurs invent, design, and build models with a more systematic approach.

Why is it so popular within the business community?

Its simplicity. The business model canvas allows us to carry out a high-level analysis without drilling down and getting lost in the details. You just draw out the 9 building blocks on a blank canvas, fill them in as each concept relates to your business, and hang it somewhere everybody can see.

It’s a visual overview of your entire business on a single canvas.

While the Business Model Canvas is an extremely fluid concept and hyper-specific to individual companies, each canvas is still broken down into these 9 key building blocks:

Customer Segments

Value propositions, customer relationships, revenue streams, key resources, key activities, key partners.

When laid out on the canvas the model will look something like this:

 Scheme of business model in which 9 important fields are developed for its execution.

While you’ve probably come across each of the 9 building blocks before, the attractiveness of the Business Model Canvas is that it confines them to a single page , not a traditional 42-page document.

This makes it a lot easier to digest, as well as assess existing business models or map out new ideas.

How do I fill out the Business Model Canvas?

To start your Business Model Canvas you will need to breakdown and analyze each of the 9 building blocks.

A good way to approach this is to gather the heads from marketing, sales, operations, finance, and manufacturing (if product-based) and pencil-in a morning where you can all meet together.

Then, after drawing a mock canvas onto a whiteboard, proceed to dissect and discuss each of the 9 building blocks as they relate to your business. You can use sticky notes to better organize your thoughts around the canvas.

If you are an entrepreneur or new business owner working alone and don’t have a team to bounce your ideas off, not to worry. You can still carry out your analysis before sharing it with a like-minded entrepreneurial community or forum, like those found on ThePowerMBA , to get useful, insightful feedback.

Whichever way you decide to approach it, I recommend you complete each block in the following order:

  • Cost structure

For continuity, I’m going to use the fashion retail giant Zara when analyzing each of the 9 key building blocks.

If you’d like to skip to another case study similar to your own business, navigate to the table of contents at the top of the page and select one of the other business model canvas examples.

Customer segment business model canvas for Zara company

The first block of the Business Canvas Model is about understanding who is the most important customer(s) you’re delivering value to. Or, in other words, who are they? What do they do? And why would they buy your product or service?

Not a single company exists without its clients, making customer segments the best block to start with while drawing out your business model canvas.

A great exercise to define your customer segments is to brainstorm and create your company’s buyer persona (s) .

Buyer personas are fictional depictions of an ideal or hypothetical client. Typically when brainstorming a buyer persona you’d want to define certain characteristics (age, demographic, gender, income, industry, pain points, goals, etc.)

However, remember at this stage we want a snapshot of our customer segment. There’s no need to jump into great detail just yet.

In the case of Zara, there are three distinct customer segments to whom they offer different products.

The products created for each of these customer segments (clothing, shoes, and accessories) are not trans-consumable. That is to say, a woman’s dress is highly unlikely to be worn by a 7-year-old child.

Once we know exactly who it is we are targeting, it’s time to look at what we as a company have to offer.

Zara Customer Segments business model canvas template showing the development of the 9 fields

The second phase is about figuring out your company’s value propositions , and importantly, your UVP (unique value proposition). The “what” that makes customers turn to you, over your competitors? Which of their problems are you best at solving?

Each value proposition consists of a bundle of products or services that fulfill the needs of a buyer persona from your customer segment. It’s the intersection between what your company offers, and the reason or impulse customers have for purchasing.

Some popular questions to ask while determining your UVP are:

  • Which specific customer pain point are you trying to solve?
  • What job are you helping customers get done?
  • How does your UVP eliminate customer pain points?
  • What products or services do you provide that answer this specific pain point?

So let’s try and apply this to Zara. Why do people choose to purchase from them, over their competitors?

Zara’s principal value propositions are fairly clear. They offer various ranges of stylish men’s, women’s, and children’s clothing and accessories at an affordable price.

But there’s more to it than that.

If we dive a little deeper we see Zara’s value propositions are more complex, which are behind the success of the brand:

Fast fashion

Zara adds new clothes and designs to its collections every 2-3 weeks, both in its stores and online. It keeps the brand updated, fresh, and modern while maintaining its all-important medium price point

Great eCommerce experience

Once you enter Zara’s online store you’re presented with a clean, easy-to-navigate, and high-end feel. The customer segments are visible on the left navigation bar with a search tab to further aid customers with their online experience.

Zara's Canvas business model where you can see the innovative presentation of its image

Localized stores

You can find a store in nearly all major retail locations (shopping malls, retail outlets, airports, etc.) meaning accessibility is not an issue for the majority of consumers.

Flagship stores

Zara demonstrates its aesthetic evolution to customers through its flagship stores. The recent opening of their Hudson Yards , New York City flagship is a great example of this. Customers shop around its vivid, minimalist layout offering them an experience aligned with the brand’s deeper, eco-friendly values.

Zara's Canvas business model where you can see the innovative presentation of the image of its stores

Zara Hudson Yards, New York

Business Model Canvas Template Zara - Value Propositions

The next step is to ask yourself how you are reaching your customers, and through which channels ?

This includes both the channels that customers want to communicate with you as well as how they’ll receive your products or services.

Is it going to be a physical channel? (store, field sales representatives, etc.) Or is it a digital channel? (mobile, web, cloud, etc.).

Zara has 3 primary channels in which they communicate and deliver products to its customers:

  • Direct sales through their stores
  • Online (both app and website)
  • Social media

Customers can go to a traditional “bricks and mortar” store to browse, model, and purchase different items of clothing at one of their retail stores.

Alternatively, they can shop online or through their mobile application and have the product delivered straight to their door or nearest store. The choice is completely up to them!

So that covers Zara’s commercial channels, but what about how they communicate with customers?

While they do communicate through their mobile app, their predominant channel is social media.

What’s more, they’re really, really good at it.

For example, did you know that Zara invests less than 0.3% of its sales revenue into advertising?

This is only possible due to an A-rated social media presence . Customer queries are not only dealt with quickly, but recommended re-works are sent back to HQ, forwarded onto in-house designers who then apply the feedback to future collections.

This customer-first approach through fluid communication channels has saved them thousands of dollars in marketing, strengthened their brand, and created a loyal customer base.

You should only step away from this building block once you’ve decided how each of your customer segments want to be reached.

Zara Channels business model canvas template where its components are developed

Once you have acquired customers, you will need to think about how you can build , nurture, and grow those relationships.

Now, this can be automated and transactional like large eCommerce brands Amazon or Alibaba. Or, it could be at the complete opposite end of the scale and require a more personal relationship you’d typically have with a bank or your local bike shop.

Zara’s relationship with its customers is threefold, and lies somewhere in the middle of transactional and personal:

  • Salesperson at store
  • Brand through social media
  • Sentimental attachment to a product

Yes, you have the initial transactional touchpoint at the store or online, something relatively impersonal and for many the only interaction they’ll have with the brand.

However, customers (especially in the fashion industry) are encouraged to continue to interact with a brand through social media platforms.

As we mentioned before when discussing channels, Zara has a very effective communication system in place. Not only can people instantly get in touch with the brand, but also engage with new posts, images, and collections uploaded to social media.

This personal approach to customer relationship building can, in some cases, lead to the natural growth of brand ambassadors and communities .

An attachment can also develop between customers and particular garments or accessories from one of their collections. The sentimental attachment to these products also creates another potential form of brand loyalty.

The relations with Zara's clients to give a Business Model Canvas where the 9 points to be developed are seen

Now that you’ve described how you are going to create real value for your customers, it’s time to look at how you plan to capture that value.

What are your revenue streams? Is it going to be a transactional, direct sales strategy ? Are you going to consider a freemium mode l, where you give a portion of your product or service away for free with the idea of converting later on down the line?

If you’re a SaaS company such as SalesForce or Strava , then it’s likely that a licensing or subscription revenue model will be more appropriate.

At Zara, it’s extremely simple. They make their money by selling clothes and accessories either at a store or online.

Zara business model canvas template for the development of Revenue streams within the 9 points to work

As you can see, we’ve filled in the entire right-hand side of our business model canvas. We touched upon:

Customer segments

  • Value propositions
  • Revenue streams
  • Distribution channels

Now it’s time to move over to the left side of the business canvas model and look at what we need, internally , to deliver our value propositions.

Key resources of the Zara Business Model Canvas

To start with, let’s take a look at key resources.

The key resources are all things you need to have, or the assets required to create that value for customers.

This could be anything from intellectual property (patents, trademarks, copyrights, etc.) to physical holdings (factories, offices, delivery vans, etc.) right down to finances (the initial cash flow perhaps needed to start your brand).

Another key resource every company needs to consider is its human capital . Are you going to need highly specialized software engineers? Or field-based sales teams?

They are relatively capital-heavy resources that need to be factored into your business model.

In the case of Zara, they are going to need a number of key resources if they hope to deliver their propositions:

  • Stock management
  • A large, interconnected network of physical stores
  • A strong brand
  • Logistics and supply chain infrastructure

Stock is vital for both online and offline customers.

If they are unable to supply their range of products and meet customer demands, satisfaction levels fall and they have a serious problem on their hands.

A large distribution network of brick and mortar stores combined with a strong brand name help mitigate these factors, as well as reinforce any ongoing marketing activities and communication efforts.

Finally, an efficient logistics process within Zara is critical, especially when you consider the complexities involved with such a large-scale operation.

They will require the necessary technology to analyze data on inventory, storage, materials, production, and packaging, with the staff to execute each of these stages and manage the delivery of the final products.

Zara business model canvas template where the Key Resources are developed

The next step is to define the key activities – the areas you need to be good at to create value for your customers.

To mix it up a little let’s take a look at a slightly different business in Uber .

Their key activities can be broken down into:

  • Web and mobile app development
  • Driver recruitment
  • Marketing: customer acquisition
  • Customer service activities : drivers’ ratings, incidents, etc.

They need a fast, clean UX for their customers using the app, drivers to carry out their service, and the ability to both market the product and deal with any customer queries.

Zara’s key activities will differ to those of Uber. Some of the things they need to consider would be:

  • Manufacturing
  • Retail process (point of sale and 3rd party management)
  • Distribution channel / logistics

Design is a key activity as Zara’s value proposition is to provide stylish garments at an affordable price. Their collections need to be constantly updated to follow the latest fashion trends at the time.

To produce their collections Zara will also require manufacturing capabilities. Now Zara doesn’t own their own factories (we will get to that in the Key Partners section) but they still need to be involved in the garment manufacturing process.

Everything from fabric selection to pattern making, to detailing and dyeing affects the outcome of the final product which of course they have to then go on and sell.

The effective management of the retail and distribution channels (online, offline, shipping, and communication with providers) is also key. A breakdown in either of these activities, such as a poor relationship with an important provider will have serious consequences for the business.

Zara business model canvas template showing the key activities for its development

Most modern business models now require brands to build out and work with various key partners to fully leverage their business model.

This includes partnerships such as joint ventures and non-equity strategic alliances as well as typical relationships with buyers, suppliers, and producers.

A great example of a strategic partnership would be between ThePowerMBA and Forbes . In exchange for exposure of our brand to the magazine’s global audience, we provide expertise and content on high-level business education programs.

As we touched upon when discussing key activities , Zara requires strategic partnerships with many different providers if they are to design and produce their collections.

Another key partner is their major holding company, Inditex .

Inditex has several subsidiaries including Massimo Dutti , Pull & Bear , and Oysho . Being a subsidiary of Inditex means they share a consolidated balance sheet, stakeholders, management and control, and various legal responsibilities.

While as a subsidiary Zara is afforded certain freedoms when it comes to design, delivery, and the general running of the company, the overall strategy will need to be aligned with Inditex and its other subsidiaries.

Zara Key Partners business model canvas template where the eighth point is developed

The final step of the Business Model Canvas is to ask yourself, how much is it going to cost to run this model?

This includes some of the more obvious needs such as manufacturing costs, physical space, rent, payroll, but also areas such as marketing activities.

If you are unsure of exactly what to include in your cost structure take a look at a Profit and Loss statement ( P&L ) from a competitor or company in a similar industry to yours. You’ll find many items overlap such as research and development ( R&D ), cost of goods sold, admin expenses, operating costs, etc.

Once that’s done you should prioritize your key activities and resources and find out if they are fixed or variable costs .

As Zara is such a large, corporate business they are going to have both fixed costs (rent, payroll, point of sales personnel) and variables, such as costs associated with the fluctuating sale of goods, purchase of materials and, manufacturing costs.

Once you’ve completed these 9 steps, your Business Canvas Model should look something like this:

Business Model Canvas Examples

Hopefully, you were able to get a good feel for the effectiveness of the business model canvas with our run-through of Zara.

However, if you found it difficult to follow due to the stark difference between your industries, I’m going to quickly go through 3 more companies to demonstrate the tool’s flexibility:

  • Netflix (Media service/production)
  • Vintae (Vineyard)

Even if these business model canvas examples don’t align exactly with your industry, I honestly believe that studying different models gives you a competitive advantage in your professional career regardless.

If you’re currently employed by a company, you’ll better understand how your specific role helps the company achieve some of its “long-term” goals.

Alternatively, if you are a business owner yourself (or perhaps thinking of starting your own business) you’ll have a better understanding of your business and where potential opportunities lay.

I’m sure you’re familiar with our next business model canvas example candidate, Netflix .

The global media company offers an online streaming service of various movies, documentaries, and TV programs produced in-house or licensed 3rd-party content. Their success sparked a revolution in the online media world with the likes of Amazon, Apple, Disney, HBO, and Hulu all rushing to launch their own online video streaming platforms.

Netflix started life as an online DVD rental company, basically a web version of the more popular (at least at that time) “bricks and mortar” Blockbuster.

Co-founder Reed Hastings predicted as far back as 1999 that the future of media was in online streaming, saying “postage rates were going to keep going up and the internet was going to get twice as fast at half the price every 18 months.”

It wouldn’t be until 2007 that Hasting’s prediction would become true when Netflix, as we now know it, was born.

So let’s take a current look at their business model canvas:

Netflix business model in which the 9 topics are taken into consideration

As you probably know, there are very few people out there who haven’t subscribed, watched, or at least heard of Netflix. There is content for everybody: wildlife documentaries, sci-fi movies, rom coms, action-thrillers, you name it – it’s there.

That’s why their customer segment can be classified as a “ mass market ” as the base is just so diverse.

All people require is a computer, TV, internet, and/or smartphone and they’re good to go. For most developed markets, that covers just about everybody.

Value Proposition

Whether on the train to work, sitting in the car (if you’re not driving!), or relaxing at home in front of the TV, you can consume their online, on-demand video streaming service.

They also have a huge library of content for consumers to choose from, ensuring that people keep coming back, as well as increasing their mass-market appeal.

They also produce high-quality, original content to differentiate themselves from their competitors.

Most people access Netflix either through their website or mobile/TV App . Another popular channel that you may have picked up on is their affiliate partners .

You’ve perhaps signed up for a mobile, TV, and internet package where the provider offers Netflix as an extra to sweeten the deal, so to speak.

That would be an example of an affiliate partnership between Netflix and mobile service providers.

I doubt many consumers have had direct contact with Netflix unless it’s to resolve a subscription issue or general query. It’s very much a self-automated service – you download the app, select the program you wish to watch, and hit play.

Very simple, very effective.

Again, this doesn’t need much embellishment. Netflix generates money from the different tiers and packages put together in their subscription services.

This varies depending on the region to account for local markets, but on the whole, it’s sold at a low price point.

Originally, Netflix’s Key Resources would have been their unrivaled DVD collection combined with a cost-effective mail-order system.

Nowadays it’s undoubtedly the rights to stream online video content. Netflix has brokered deals with some of the biggest production studios worldwide.

Combined with their huge library of in-house productions , it’s more than enough to encourage customers to renew their subscriptions.

To help sustain interest in their product, Netflix understands they need to serve-up relevant content for each sub-sector of their mass audience. Therefore their machine learning algorithm selects content for consumers based on streaming habits (what they watched, at what time, etc,.) to personalize the customer experience.

This explains why over 80% of all content streamed on Netflix was cherry-picked by this algorithm, making it a Key Resource for their business model.

Also, Netflix accounts for a whopping 12.6% of global bandwidth usage . The literal capacity to stream their services must be met meaning bandwidth must also be included here.

Content procurement is arguably their biggest Key Activity. They need to find people to produce and deliver their original content, including actors, studios, writers, etc. as well as secure the licensing and streaming rights from 3rd party producers such as Sony, Warner Bros, and Disney.

Finally, they need a fast, easy-to-use application to host their online streaming service. This needs to be available for both TV and mobile devices if they are to deliver their “on-demand” value proposition.

K ey Partners

Seeing as Netflix’s entire business model is largely based around streaming 3rd party content, key partnerships need to be built with production studios . No content, no Netflix!

Also, as we touched upon earlier Netflix is one of the largest consumers of bandwidth worldwide. If the speed and delivery of their streaming service are to be continued then deals will also need to be made with internet service providers (ISPs).

Netflix’s biggest expenditures come from both their in-house content procurement and 3rd party licensing agreements . The high-quality standard of video streamed on Netflix is only possible due to the speed and performance of its online platform and application , which has additional costs of staff, software, etc.

To show you just how flexible the business model canvas can be, I wanted to throw in a slightly leftfield example. Vintae is a Spanish wine producer who, after a detailed analysis of the business model canvas, was able to innovate and disrupt one of the world’s most competitive industries.

As some of you may know, the wine industry is extremely competitive. It’s also steeped in history and tradition , making it very challenging for newcomers to grab market share, let alone think about year-on-year growth and revenue.

However, CEO “Richi” Arambarri looked at the traditional “ bodega ” business model and saw a chink in its armor.

A “small” innovation in the business canvas model helped them to become one of the region’s most important winery groups, with over 10 installations and a presence across all regional denominations (Rioja, Priorat, Rias Baixas, etc.) with year on year growth of 30% – practically unheard of in such a competitive industry.

So how did Vintae analyze the business model canvas to find a niche in their market?

To answer that question, we must first look at the traditional winery business model .

Traditional Winery Business Model with its 9 developed points

As you can see, the wine industry has historically been patrimonial. Vineyards and estates are passed down through generations with the winery responsible for all phases of production, clarification, and distribution.

The traditional winery business canvas model suggests you must be the owner of the winery/vineyard where the wine is “manufactured”, meaning physical assets are a key resource of the business model.

So, if you wanted to start producing a Rioja, for example, you’d have to set up your vineyard in the region.

This is monumentally expensive as you need to:

  • Purchase the land
  • Plant a vineyard
  • Absorb set-up and installation costs
  • Deal with maintenance costs

It’s here where Vintae saw their opportunity.

What if we move vineyard ownership across the business model canvas from key resources to key partners ?

By leasing the equipment and space of large wineries (of which there was plenty), they could still produce their wine but reduce the cost and exposure associated with land purchase, crushing equipment, huge storage tanks, vineyard maintenance, and their bottling line.

This enabled them to focus on their sales, marketing, and distribution channels to create a better brand experience for their customers.

Also, it afforded them more flexibility when creating new wines as they were no longer confined to the limitations of grapes grown on their vineyard.

The lightness of this new business model eliminates maintenance overheads, channels energy into personalizing the customer experience, and allows for unprecedented levels of growth in one of the world’s most competitive industries.

Vinate business model

Business Model Canvas Software

Although I did mention starting with a large whiteboard, sticky notes, and a pack of colorful sharpies there are several options in which you can digitize the business canvas model production process.

While I still believe the aforementioned process is extremely valuable (it gets your entire team’s input in a single hour-long session) you may decide it more viable for each member of management to pool their ideas digitally before sharing with the rest of the group.

If that’s the case, then take a look at some of the following software tools for creating your business model canvas.

Strategyzer

Created by the founders of the business model canvas Alex Osterwalder and Yves Pigneur , Strategyzer offers a range of business model canvas templates for you to get started with.

If you opt for the paid model (there is a 30-day free trial period) they offer a series of various classes that teach you how to build and test different value propositions and business models.

A real-time built-in cost estimator analyzes the financial viability of some of your business ideas, identifying alternative areas you may wish to explore with your model.

All-in-all, it’s a great resource to play around with and test some of your business ideas, with the option to dive into further detail if you see fit.

Canvanizer is a free, easy-to-use web tool that allows you to share links between team members who are brainstorming ideas for a business model canvas, but working remotely.

Like Strategyzer, there are several business model canvas templates provided to help you get started with your analysis. The strength of this platform is its accessibility. Much like a Google Doc., several people can brainstorm on the same canvas simultaneously with changes being synchronized automatically.

Business Model Canvas Tool

A ThePowerMBA alumni, impressed by the simplicity and effectiveness of the tool, went ahead and created the free application Business Model Canvas Tool .

It’s an incredibly intuitive, and easy-to-use tool that allows you to create templates simply by clicking the + button in each building block.

Each business model canvas created can be downloaded and shared as a pdf. with the rest of the team.

Would You Like to Learn More about Business Models?

If, after going through our 9-step guide on how to use the Business Model Canvas you’d like to learn more about different business model analysis tools , take a look at our alternative MBA business program .

As you’ll see, the course gives students a 360-degree view of business and management practices – such as engines of growth, segmentation and targeting, and value propositions.

I highly recommend you go check it out.

Regardless, I’d love to hear what you thought about this guide. Was it helpful? Would you like to see additional business cases analyzed from your industry?

Let us know in the comments below.

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16 Comments

Ayeah Goodlove

Perfect thought

kourosh abdollahzadeh

I am a DBA student. I have used your site a lot. Thank you for the information

KJ Hwang

Well defined steps, Thanks for good contents.

Reza Ebadi

Dear Sir many thanks for you guideline. it was very effective for me. Thanks a Million

Debashis Rout

Well explained with practical business case

Allen

Wow, this article was incredibly helpful! I’ve heard about the Business Model Canvas before, but I wasn’t sure exactly how it worked or how to use it for my own business.

NIMAKO JAMES

I need a sample of business model canvas for a beauty palour

Opoku Samuel

you’ve done a great job. keep it up

Claudia Roca

This is a very insightful content with a step-by-step practical approach of how to write a BMC and what exactly it should contain.

My team and I literally used your guide to write a BMC for a project we were working on, and in just about an hour we were done.

Thank you so much for this content, it was really helpful.

Franco

Thank you very much Collins and we are glad you are using this tool.

Jude

Insightful! Gave me the clarity I needed for my upcoming business. Thank you so much.

Praveen

Thank you very much for the business model example of ZARA. It was very very informative

Efi

This is a great explanation, the best i’ve seen. Thanks

Thank you very much for reading and sharing your comments

Tatyasaheb Phadtare

Really great tool for business and whom want to enter,. Thanks

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Article • 11 min read

The Business Model Canvas

Understanding what makes your company successful.

By the Mind Tools Content Team

hr business model canvas

Do you know what your company's business model is? How well do you understand it? And why does this matter?

A company's business model determines how it generates its revenue, operates successfully, and makes a profit. If your company's business model is out of date or wrong for its market, then it's likely to fail.

Understanding your company's business model is an important part of developing the "commercial awareness" you need to solve problems effectively, make good decisions, and become known as a trusted leader in your organization.

This article explores a useful model that you can use to think about your business model.

What Is the Business Canvas Model?

Alex Osterwald and Yves Pigneur developed their Business Model Canvas in 2010.

They collaborated with 470 members of the Business Model Innovation Hub – an online forum for business professionals and researchers – who contributed case studies, examples, and critical comments to their research. As such, the Business Model Canvas represents the collective experience of a community of business people.

It appears as a template of nine basic building blocks, as shown in figure 1, below. These form a blueprint, based on which business models can be systematically designed, explained and challenged.

Figure 1: The Business Model Canvas

hr business model canvas

The Business Model Canvas is the property of BusinessModelGeneration.com / strategyzer.com , and it is distributed under a Creative Commons copyright license .

How to Use the Business Model Canvas

To use the Business Model Canvas, think about each building block using the questions below. You may want to download our worksheet to help with this.

CS: Customer Segments

Your customer segments are your target markets – the specific groups of people or organizations that your business serves.

Instead of trying to satisfy everyone, all of the time, group your customers according to common attributes like their location, needs, or behaviors, and decide which segments to focus on. This way, you can deliver a product or service that is closely tailored to the specific needs of particular groups.

See our article on market segmentation for more on this.

Record your results in the CS block of the canvas.

VP: Value Propositions

The value propositions block defines how you'll deliver value to your customers. You can create value in many ways, including offering a low price, a high standard of design, good accessibility, convenience, and high performance. Consider these questions:

  • How do you create value for your target market?
  • What problem or need does your product or service solve for the customer?
  • How does your product or service differ from your competitors' offerings?

If you are struggling to crystallize your value proposition, conduct a USP Analysis and Core Competency Analysis to assess how your product or service stands out from those of your competitors.

Write your value proposition in the VP block of the Business Model Canvas.

R$: Revenue Streams

In this block, you analyze how each customer segment pays for your product or service.

There are many different ways to pay for a product or service. For example, is the price fixed, or will you charge customers for each use, by subscription, or with ongoing payments? Will any negotiation or bargaining be involved? And who, ultimately, is the customer? (Your customer may be an advertiser, for example, rather than the user of the service.)

Consider these additional questions:

  • What do your customers currently pay for similar products or services?
  • How do they pay for this?
  • What do you charge for your product or service?
  • Do customers get any free services or perks that your competitors don't offer?

Record this in the R$ block of the Business Model Canvas.

CH: Channels

The word "channel" refers to the way you deliver your value proposition to each customer segment. Channels include a direct sales force, web sales, own brand stores, partner stores, and wholesalers. Consider these questions:

  • How do you make your customers aware of your products and services?
  • What channels do your customers prefer to use?
  • How will you help customers evaluate your value proposition?
  • How do customers want to buy your products and services?
  • How do you provide customer support?

Record your answers in the CH block of the Business Model Canvas.

CR: Customer Relationships

This block defines the type of relationship you want to foster with each of your customer segments. There are several categories to consider here.

  • Dedicated personal assistance – This is where the wants and needs of each customer are handled by a dedicated customer service representative. For example, many types of business dedicate an account manager to highly valued clients.
  • Personal assistance – Here, customers can communicate with a customer service professional during and after the sales process. This can happen in person at the point of sale, or through a call center, email, or IM.
  • Self-service – Customers can purchase products without assistance.
  • Automated Service – An automated service recognizes individual customers through a login or other identifier. This provides a customized service that "remembers" the customer's preferences and presents options accordingly.
  • Communities – Here, the organization builds communities using social networking and blogs to encourage customers to communicate with one another, share ideas, and solve problems.
  • Co-creation – In these relationships, organizations go beyond the traditional customer-vendor relationship by encouraging customers to take a more active role in shaping what the product or service might be. For example, some companies encourage their customers to review their products, or create content that can be shared with others.

To think about how your business develops relationships with customers, you can use the Buy-Sell Hierarchy , Focus Groups , and Customer Experience Mapping to understand what your customers want from their experience, and then use this information to build the customer relationships you need.

Record your findings in the CR block of the Business Model Canvas.

KR: Key Resources

Your key resources are the things you most need to make your business model work, and different types of business need different types of resource.

Key resources may be owned by your company, leased, or used through some other arrangement with key partners.

Consider these questions:

  • What human resources will you need?
  • What financial resources will you need?
  • What physical resources will you need?
  • What intellectual property resources will you need?

Conduct a VRIO analysis to explore how you can make best use of the resources you have available.

Make a record of these key resources in the KR block of the Business Model Canvas.

KA: Key Activities

Your key activities are the most important business processes that your organization must use to operate successfully. Examples of these include designing, manufacturing, and delivering a product; providing new solutions to customers; or providing a platform on which customers are able to complete transactions.

List your key activities in the KA block of the Business Model Canvas.

KP: Key Partnerships

This is the network of partners, stakeholders and suppliers that you rely upon to make your business model work. Consider these questions:

  • What strategic alliances do you have in place to bring your product or service to market?
  • What partnerships are needed to access key resources such as areas of expertise, raw materials, or access to customers?
  • What partnerships allow you to access economies of scale?
  • Who have you joined forces with to minimize risk and uncertainty?
  • Who are the key stakeholders for your product or service? How can you create strategic partnerships with these people?

Conduct a Stakeholder Analysis to identify who has the most power and influence. And, as you evaluate potential partners, use our 10 Cs of Supplier Evaluation checklist to evaluate them carefully.

Write your key partnerships – both potential and present – in the KP block of the Business Model Canvas.

C$: Cost Structure

The last block you need to analyze is your cost structure. This looks at all of the operating costs that your business incurs as part of its business model. These costs should be easy to identify, now that you've defined your key resources, activities, and partnerships.

Record your findings in the C$ block of the Business Model Canvas.

Applying What You Have Learned

By working through the Business Model Canvas for your own company, you'll get a good insight into the things that really matter for your business.

You can use this understanding to make informed decisions about business areas that you are responsible for by checking, in particular, that your decision won't undermine the wider business in any way. You can also quickly identify business areas that will be improved by your decision, and this will help you "sell" your recommendations.

It also gives you a head start when you're scanning the business news or industry press for changes that will positively or negatively affect your business. You'll know the core things that your business depends on, and you can watch out for changes that affect these.

Another advantage of the Business Model Canvas is that it clarifies how your own part of the company affects, and is affected by, other departments. This helps all parts of the business co-operate with one another more efficiently.

The Business Model Canvas was developed by Alex Osterwald and Yves Pigneur, in collaboration with a community of business professionals at the Business Model Innovation Hub. It is a useful tool for designing and analyzing business models in an objective, structured way.

The Business Model Canvas incorporates nine building blocks:

Block 1: Customer segments.

Block 2: Value propositions.

Block 3: Channels.

Block 4: Customer relationships.

Block 5: Revenue streams.

Block 6: Key resources.

Block 7: Key activities.

Block 8: Key partnerships.

Block 9: Cost structure.

You can use the Business Model Canvas to develop a new business model, or refresh an outdated one; analyze the viability of a new business idea; and even to analyze your competitors' business models to discover opportunities for making your own business stand out.

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Business Model Canvas Examples

Kyrylo Iusov, Advisor & Co-founder

CPO in Jelvix with 8+ years in software development. He has been working as a project manager for more than 6 years. Kirill has managed a wide range of projects from various business segments and understands the processes that will drive the product to success. He started from managing small teams, and now he assembles an expert team of more than 40 software developers. His expertise and knowledge of the latest technical innovations have brought Jelvix to the ranks of the most distinguished custom software development companies.

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Over the last decade, the approach to planning and organizing a business changed a lot. In the past, business owners created extensive business plans that described the detailed specifics of value proposition and operations. Business plans aimed to foresee the situation in the scale of decades. 

However, the ever-changing startup climate that emerged over the last decade made this approach irrelevant. Spending time preparing business plans that end up being detached from reality led to increased expenses. After all, no matter how good your business plan is, it might not account for a global pandemic. 

What’s a Business Canvas?

Business canvas, also known as a lean business plan , is a time-saving approach to business planning, opposed to traditional planning methods. Rather than describing the detailed vision , mission , operations, it answers key questions – and the team derives the conclusion from this answer.

Business model canvas is more attainable than a business plan. Instead of describing the abstract vision, the document focuses on answering the following questions: 

  • What is the product/service?
  • What is the main value offered to a customer by a company’s product or service?
  • How much does it cost to start a business? What’s a brief estimate of major expenses?
  • What are your business key partners?
  • Who are the main customers? Business canvas can consider both primary and secondary target audiences . 
  • What are the main distribution channels and approaches to managing them?
  • The Format of Business Model Canvas Explained

The main advantage of switching from plain-text plans to visual canvas is its readability. Here’s a rundown of differences compared to the traditional approach. 

  • The document volume: just one page versus old-fashioned 20-30-page documents;
  • Clear structure: each section of a business model canvas is located within its “square”;
  • Fewer words, more meaning: the more concise canvas is, the better it’ll convey its key points;
  • The style: no sales talk on technical jargon, canvas describes the business model in everyday language;
  • Focus on practical matters: business model canvas features useful answers to urgent questions. No information is entered “just in case.”

The Structure of Business Model Canvas

The structure of Canvas

Business model canvas is easy to read because it always follows the same format. Investors, stakeholders, partners get used to seeing particular information where it belongs – so that everyone is literally on the same page.

  • Sections always follow a precise order. For example, the cost structure is always in the left bottom part together with revenue streams.
  • All sections are distributed based on their meaning. Key partners, activities, and resources are located together – because these aspects are closely related. Similarly, cost structure and revenue streams belong in the same row. 
  • More opportunities for branding. Since canvas encourages visual representations, businesses can show their tone of voice and approach clearer. Sure, there’s a format to follow, but deviations are possible in the tone of voice, fonts , narration style. 

Categories that are located on the left side of the canvas are the ones that require investments and nurturing. The aspects described on the right side refer to means of generating revenue. This is called a left/right split of the business canvas. 

This article will give a practical guide on how to describe business concept examples and analyze real-life business models. With a business model canvas, the entire team will have one-page guidance on developing a business model . 

  • Customer Segments

To define customer segments, you need to analyze your clients by demographic and behavioral characteristics. There are many ways of defining user performance and performing customer analysis, but here are few ideas. 

  • Basic demographic characteristics . Split your customers into segments by gender, age, location, occupation. These qualities will influence their behavior later on and allow you to perform basic targeting. 
  • B2B vs B2C segmentation . Often, businesses tend to gravitate to one or the other, but business models combine both. For instance, if you are building a booking or tourism-related platform, you interact with businesses and individuals. These users will have different needs and challenges.
  • Usage habits . Software development companies focus on types of devices, operating systems, browsers that users normally use. 
  • Purchasing trends . You can segment users by their favorite product categories, time of making a purchase, frequency, etc. 

Business canvas is supposed to be brief – so the best strategy is to choose 4-5 leading segments and focus on them. These should be the user types that have the potential of generating the most revenue for your business. 

  • Key Partnerships

Business canvas focuses on tangible aspects of business operations, and partnerships are among its key pillars. For this section, listing all partners is unnecessary. If you don’t have specific names in mind yet, you can list the types of partnerships and briefly describe strategies for attracting them. 

As a software development company, our clients and we typically consider the following key resources in the business model canvas . 

  • Suppliers : e-commerce stores, marketplaces, delivery applications rely on businesses that can steadily supply high-quality products. In your business canvas, list requirements for a supplier. 
  • Technical collaboration : to build the best product, development companies often need to cooperate with others. This section can feature commercial APIs , payment gateway partnerships, cooperation with development teams and agencies, and outsourcing providers. These businesses are also key partners of your business.
  • Cooperation with competitors : if there’s a strong player on the market, smaller businesses often team up to gain visibility. If you are entering an established field, consider looking for smaller competitors and making them a partnership offer. 

The focus on partnerships is one of the main advantages of business canvas over other methods. Too often, businesses don’t think about cooperation out-of-the-box and miss out on opportunities. When you build a business canvas, its structure motivates your team to consider these options. 

  • Key Activities

The operating model canvas describes your company and product’s processes to solve its target problems. For instance, for Uber, the key activity would be connecting drivers to clients and overseeing the safety of cooperation. Key activities tend to vary as the company scales, so most businesses frequently update this business model canvas section.  

The key activities of most IT businesses

  • Product ideation and development. The main value of a tech company lies in its product. Design , development , and testing are key activities that directly influence business success. 
  • Marketing. To reach new users and keep the existing ones satisfied, you need to plan marketing activities. This includes digital marketing and its components – Search Engine Optimization, content management, social media management. 
  • Sales. Sales activities allow companies to continually generate revenue, communicate with clients, and stay in touch with direct customer needs. Pre-sale and sale processes should be listed as one of the key activities in the canvas. 
  • Customer support. If the product is not working properly, or a user can’t understand the interface or functionality, customer support should promptly intervene. For an IT business, focusing on customer support quality is crucial for maintaining a good reputation. For instance, Google Cloud’s lack of customer support is what drives many away from embracing an otherwise great solution. 
  • Distribution and logistics. For businesses that deal with e-commerce and sell physical goods, distribution and logistics are key business model activities. Business model canvas should have information on responsible team members, costs, and requirements for the distribution cycles. 
  • Public relations. If a business is built around a community, communication and community management are key business activities. For NGOs and educational services, public relations are particularly important. 

The list of key activities is a defining feature of the business model. When you understand what operations are the most crucial for your business, you have a better idea of the end value. The key activities define your unique value proposition, operation costs, risks, and partnerships. This is why it’s the most important section in the entire strategy canvas template . 

Learn more about the main stages of product development lifecycle to build a sustainable product.

  • Revenue Streams

Revenue streams

Revenue streams also referred to as monetization, sum up your business strategies to leverage profit. A lot of businesses choose a single monetization strategy, while some combine multiple approaches. As a software development company, we can sum up the most common revenue streams for software businesses and tech-based models. 

Advertising . Users use the application for free; however, some of their personal data might be used for advertising targeting. The application offers the time and attention of their users to businesses – and gets paid a commission. It’s a great business model for attracting more users, as the service remains free.

However, to generate a lot of profit, it’s essential to have many users on the service. Advertising strategy, among others, is used by Facebook, Twitter, Youtube, Google, and others. It’s a common one for mobile applications and games. 

Subscriptions . To use a service, a user needs to pay every month, week, or year. It’s a common model for software-as-a-service, media platforms, learning services, online publishing, and entertainment. On-demand content providers like Spotify or Netflix use this business model with premium-level publishers like Quartz or The New Yorker. 

Affiliate Marketing . The platform gets revenue for referring users to other products. By tracking visits and purchases with on-page pixels and promo codes, affiliate systems calculate your revenue.

Affiliate marketing is frequently used among influencers (like when a sponsoring brand gives a Youtuber a promo code) and blogs (when a niche blog publishes a list of best tools to use or collects the best Amazon listings). Affiliate marketing can be beneficial both to users, referring platforms, and your partners – if recommendations correspond to your users’ needs. 

Donations from users . If you’d like to keep offering your service to the public for free without selling away user data, donations are another option. PayPal provides a donation getaway that can be embedded on the blog, application, or web service.

This strategy is common for businesses with a strong social mission and requires high user loyalty. Such business canvas examples include Wikipedia , The Guardian , and Khan Academy (the education platform that recently received a 5 million dollar donation from Elon Musk). 

Freemium . This business model offers basic features for free and provides updates on a paid subscription. It’s common among SaaS and publishing businesses. Use examples include Medium (users have a certain number of free stories every month) and Grammarly , where a free version recommends basic corrections. 

Commissions . Fee-based monetization is common for marketplaces, APIs, payment gateways. The use of service is typically free, but the intermediary withdraws a fee once a transaction is made. The commission can be fixed regardless of the purchase amount or depending on the percentage. This business model is used by Uber , Amazon , BlaBlaCar , and other services. 

  • Value Proposition

The Value Proposition is a concise sentence or, at best, paragraph that summarizes your company’s offer. It depicts users’ problems and ways to solve them. Let’s take a look at real value proposition canvas templates to make things more transparent. 

  • Slack’s value proposition is summarized in their slogan – be less busy. The full version is more specific: Slack is where teams can collaborate, send important information to the right people, and find tools when and where users need them. Still, the three-word slogan reflects the gist of it pretty well – after all, the purpose of Slack merely is making users less busy.
  • Paypal has two sets of value propositions – one for buyers and one for sellers. The sellers-focused version promises convenience, low cost, and security. Online stores can be sure that the payment will go through on any browser, with a low commission, and user data won’t be compromised. For buyers, the value proposition is focused on convenience, flexibility, and security. It takes little time to make a payment, it can be done from any device and browser, and all data is safe. 
  • Amazon is a super-aggregator of vendors and buyers, where buyers can find whatever they need at a given moment, and sellers can reach large audiences. The company’s value proposition is based on the platform’s functionality and popular community.
  • Distribution Channels

At this point, you can answer two major questions: what is your value, and who needs it. However, the picture is incomplete without knowing how the value will be delivered to customers. Answering this question is the responsibility of the “Distribution channels” sections. 

To plan channels in the business model canvas , we recommend getting acquainted with the buyer’s journey. In a nutshell, it consists of three stages: 

  • Awareness : the customer is aware of the problem but doesn’t yet know how to solve it. He’s not considering any particular help so far. It’s an exploratory stage. 
  • Consideration : the customer is aware of the importance of the problem and is ready to consider looking for help. At this point, the user is exploring multiple options, comparing pricing, advantages, reviews. 
  • Decision : the client spent a lot of time exploring the market and is ready to commit to the final option. At this point, all a customer needs is the last push that will fully persuade towards making a purchase. 

Distribution channels

A company should have distribution channels for all three stages of the buyer’s journey. It’s achieved with focused content marketing, Search Engine Optimization, email marketing, social media management. Here are some of our distribution channels – just to give you an idea.

Distribution channels in a business canvas example 

  • Company’s blog : Jelvix has a blog with in-depth guides like this for users in the awareness and consideration stage. Users get to know their problem better and move to the consideration stage. 
  • Newsletter : once a user considers our blog useful, the next option is to subscribe to our newsletter. This is where we inform about new content, special offers, additional materials (like free e-books or whitepapers).
  • Case studies . When users are deciding on partnering with the Jelvix team, they usually take a look at our case studies. Often, they reach out to us directly – and this is where the sales team comes in. 
  • Youtube channel . Often, clients in the awareness stage come to us from Youtube. They want to see an explanatory video that answers their questions – and this is how they come across our content. 

Distribution methods require a lot of investment at the early stages, but ultimately, they keep your business running in the long run. 

  • Key Resources

To execute plans outlined in the canvas, you need resources. For tech companies, this involves development, design, testing teams, HR specialists, security experts. Other things to consider are server costs, maintenance fees, API costs, office space, hardware, software (development environment, automation scripts, management tools). 

The business canvas should distinguish between already available resources and those that still require investments. To avoid leaving anything out, we recommend grouping resources into human, financial, intellectual, technical, and physical ones. 

  • Physical resources : office space, furniture, computers all fall in the realm of physical resources. 
  • Intellectual resources : if you need to acquire educational resources, patents, copyrights, creative licenses, these will be expenses on intellectual needs. 
  • Technical resources : we could consider those as an extension to intellectual resources, for tech companies, this category is one of the most relevant one – and it deserves own spot. Such resources include hardware for testing, development environments, emulators, additional tools, APIs, server cost, maintenance fees, etc. 
  • Human resources : development, design, testing teams, marketing specialists, sales and customer support department, legal and HR teams – everyone involved in your direct business operations falls into this category. These resources don’t have to be limited to the in-house team – you can include freelancers and contractors. 
  • Financial resources describe funds that the company already has and strategies for obtaining those in the future. You can plan out investments, loans, crowd-funding campaigns, strategic customers, and others in this category.
  • Customer Relation Strategy

To plan a business model canvas for customer relationships , you already need to understand the specifics of your target audience, value proposition, main activities, and available resources in sales, support, and marketing departments (all this was described in other sections). So, in this section, we suggest focusing on building and maintaining a customer relation strategy. 

  • First contact: what are the ways for your users to contact the company. The most common ones are on-site forms, email communication, phone calls, and Skype meetings. Which contact data is public to users, and what has to be obtained after direct contact? Specify these requirements. 
  • Pre-sale process . Canvas should describe the value that your customer receives on the pre-sale stage. In software development, it’s often done during the discovery session. A development team offers a free analysis of a business model and provides estimates. 
  • Sales meetings . Describe who’s responsible for converting qualified leads into sales. What are the channels of communication (Skype, Zoom, phone calls, in-person meetings, negotiation)? Establish the duration of such a cycle. 
  • Finalization . When is the sale process considered finalized? What are the documents that parties need to sign for sale to go through? What data does a customer relations team need to finish the process?
  • Communication . Keeping in touch with existing clients is as important as attracting new ones. What are the ways to stimulate the next purchases? This is where you can describe special offers, bonuses, loyalty programs. 

The customer relationship section usually describes programs for maintaining and attracting clients, communication strategies, and technical resources (software, browser extensions, social media).

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  • Cost Structure

The allocation of resources depends on your field and business model. As a tech company, we can give you an idea of an approximate cost structure for tech startups.

Statistics show that 10-20% are spent on development, whereas the most are invested in testing. Marketing tends to take up around 15-25% of the budget for new businesses and around 5-10% for established companies. 

Costs can be fixed and variable. In the cost structure business model canvas , define which expenses will be constant and require constant revision.

 types of cost

Main types of cost to consider

  • Operational costs : how much do you need to keep your product running? This includes testing, development, server costs. 
  • Marketing costs : how much do you pay for one client? What is your average promotion budget?
  • Support costs : how much do you pay support teams?
  • Overhead costs : these are costs that don’t impact the product quality directly but can’t be ignored – electricity bills, installation time, delays from human resources. 
  • Staff costs : investments into recruiting, hiring, training employees, and financing additional programs and bonuses. 

For tech companies, R&D departments are the main focus. Sales and marketing are the second priority – however, the business’s success still mainly depends on product quality.

Business Model Canvas Samples

canvas model

Let’s take a look at lean canvas examples for successful companies. There aren’t official versions – such documents are usually not published. The purpose of these examples is to give you an idea of how such businesses could formulate their lean canvas examples . 

Business model canvas - slack

To understand the key aspects of your business model in a few days, you can create a business canvas. It’s an efficient one-page representation of your unique proposition value, key activities, customers, distribution channels, cost structure, revenue sources, and other aspects. Unlike traditional business plans, it doesn’t give irrelevant details – the focus is on the pillars of the business. 

The business model canvas for tech companies has its structure and rules. From audience to cost allocation, the business climate of tech startups is different from traditional businesses. If you’d like to create a canvas for your concept, don’t hesitate to contact our team . We are happy to help you ideate the solution and bring our development team on board – to make the concept into a ready product. 

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An HR business model for Millennials

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By definition, business transformation involves change – doing things differently than in the past. Examining business models is a crucial, yet often underplayed, dimension of transformation.

I often write about digital transformation , which involves a long-term strategy of adaptation to electronic, Internet, and mobile processes. For most companies, business model change is a fulcrum around which digital transformation can occur. Genuine digital transformation demands considering how an organization operates, hires, develops products, understands customer needs, and takes advantage of technology to deliver greatest value. In other words, examining business models.

The importance of business models can hardly be overstated, so I asked investor, teacher, writer, scholar, and business model expert, Deb Mills-Scofield , to author a guest post. She is a co-creator of Alex Osterwalder’s widely used tool, the Business Model Canvas , and therefore is qualified to write about this topic.

In this guest post, Deb develops one example of a business model that HR departments could use to manage their relationship with Millennial workers . The model she proposes is neither complete nor definitive, but is a step in the right direction.

How can a company innovate and keep its competitive edge? By continuously iterating business models that create, deliver and capture value. Few companies do this well with external markets and customers, let alone for internal groups. When stakeholders do not view IT, Finance, Procurement, and HR as effective, perhaps it is because functional leaders do not treat their areas like a business and discover the real needs of customers.

HR is in desperate need of a new business model. The combination of boomers retiring, Millennials expanding their presence in the workplace, intense competition for top talent, confusing and changing regulations, and new technology make HR ripe for change.

As a business, HR must satisfy the needs of numerous groups, including the legal department, hourly employees, union labor, near-term retirees, high-potential workers, company leadership, department managers, and Millennials.

Millennials: A proposed HR business model

Let’s examine an HR business model that addresses the needs of Millennials passionate and an increasingly influential group who want to make a difference and always be learning. We will use the Business Model Canvas as a framework.

Here is what a basic HR business model oriented toward Millennials might look like:

Partners: HR can’t do its job alone and needs partnerships for talent acquisition and non-traditional learning opportunities. Universities and colleges, NGOs, industry associations, and non-typical organizations like TED and Business Innovation Factory (BIF) that enable a broader, more diverse network are potential partners.

Key Activities: Fundamentally, HR must attract and retain Millennial talent. HR activities related to these two core goals include branding, social media, recruiting, and professional development.

Key Resources: Benefits packages are a given. However, professional development is also paramount to Millennials. Opportunities for continuous learning need not be expensive or formal, but must be meaningful, useful, and relevant. Mentors are critical.

Channels & Customer Relationships: Modern technology is necessary to attract and retain Millennial talent. Social media, blogs, and collaboration tools enable internal talent development, especially with people scattered across the globe. Still, Millennials also desire face-to-face contact and companies should plan to accommodate that.

Cost Structure & Revenue Streams: To understand costs, consider HR “revenue” as impact on the corporation. Although impact is not easy to quantify, it is HR’s key to sustaining the business. Great talent enables an organization to innovate and accomplish its activities in all areas; talent management is, therefore, one of the core aspects of any successful company.

Value Propositions: At a high level, a successful HR team provides effective, efficient, and individualized professional development that meets constituents’ needs. Enabling work/life balance is another area that can create a competitive talent advantage. Training managers how to lead and drive benefit to their teams and the company, beyond performance appraisals, is still another area where HR can provide significant benefit. In general, the real value of HR lies in supplying and retaining the most important component for all innovation and growth: human capital.

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Millennials: A proposed HR business proposition

Business models should include the fit between customers’ needs and the company’s value proposition. The Value Proposition Map can help us examine Millennials’ real needs and identify ways HR can meet, even exceed, them.

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Millennials’ desire for continued learning and growth means that HR must provide a comprehensive program of individualized professional development (IPD). To develop this value proposition, consider the “jobs” that Millennials want to have done in an IPD.

Millennials want a diverse set of work experiences to grasp the bigger picture, and understand the implications while also learning about the work of others in the organization. They seek to learn continuously about other jobs, projects, teams, and experiences.

This is a problem in many companies, which only train employees on issues narrowly related to their business or industry. More enlightened organizations recognize the value in helping employees gain a broader perspective that can benefit the company with new knowledge and points of view. HR can work with Millennials to create a diverse network that brings the company new ideas, perspectives, customers, suppliers, and partners. We can’t overstate the importance of mentors, including from other parts of the business, who can present a more complete picture of the company and help younger employees better understand internal politics and priorities.

What can HR do? Empower cross-functional teams and experiences, identify specific areas of interest for Millennials to explore, help them acquire diverse skills and knowledge, and offer incentives that encourage managers to provide time and funds for training and development. HR should consider offering its own set of products and services: sabbaticals, rotational assignments, mentors, and continual learning plans that include both internal and external resources.

Business models are a foundation for success in today’s digital world. By rethinking business models of internal functions and operations, we can train our employees to innovate in ways that will delight customers and generate profit.

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More about the HR Innovation Canvas

The HR Innovation Canvas is a set of tools that seeks to create a common understanding of all employees for values, standards and behaviour based on an analysis of the company’s previous corporate culture.

Once the internal conditions have been adapted to the necessities of the success-relevant employee groups, the focus is expanded to the external market of skilled personnel.

The previously developed solutions are communicated externally in an authentic way, for example through employee statements, as soon as increased satisfaction is achieved within the own organization.

This development path is represented graphically in the canvas.

The company’s management, HR, department directors and skilled employees will jointly establish a culture alongside a questionnaire which is individually matched to the company. 

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4 Key Business Model Canvas Advantages

By Paul VanZandt

Published on: July 25, 2023

Business Model Canvas Advantages

The Business Model Canvas (BMC) is a business model planning tool with a rich history , and through our list of business model canvas advantages, hopefully, it can help take your business to the next level. We define a business model canvas as:

“A business model canvas is an organizational tool that helps visualize the development of a potential business model. It describes the components required to successfully take a business to market. The end goal of using a business model canvas is to gain a better understanding of a target customer base, how to drive a profit, and how to deliver a unique value proposition.”

A business model canvas is essentially a template comprised of nine building blocks:

  • Customer value proposition
  • Customer segments
  • Channels (to reach customers)
  • Customer relationships
  • Revenue streams
  • Key resources
  • Key partners
  • Key activities
  • Cost structure

BMC’s were developed to provide a relatively simple, flexible, and instinctive tool that is applied to upgrade or alter the business strategy. A BMC provides a single-page overview of the entire business such as business offerings, finances, infrastructure, and competitive market. That being said, there are some serious advantages to creating one, which we’ll detail below.

Business Model Canvas Advantages

Focused on key strategic elements.

The business model canvas helps to focus on each of the key strategic elements or building blocks for developing a business model and enables a deeper understanding of how different aspects are interlinked.

With the help of a business model canvas, one can look at the business in a more systematic and organized way so that each area is covered effectively to give a more comprehensive picture of the business. By doing this, the business model canvas helps to focus on how the most crucial elements of the business affect each other and link together.

The visual nature of the BMC helps increase comprehension by providing a complete picture of the business, making it easier to spot potential strengths and weaknesses. By organizing everything visually, the BMC demonstrates that the whole business model is greater than the sum of its parts.

Is a Quick and Agile Construct

One main principle of a business model canvas is to focus on quality rather than quantity. Unlike a traditional business model, the end goal isn’t to create a pile of documents detailing every single feature. Rather, the BMC determines the key inputs to each building block.

The Business model canvas’s construct is not only simple and concentrated but also very quick to get started with developing and iterating the business strategies. A BMC should be tested and re-constructed over time as the vision of the business changes. Through this evolution, It fosters the agile mentality of planning, verification, and repetition.

A business model canvas is a set of hypotheses that should be tested and validated with real customers as any business plan is sure to change as the business grows and reaches more customers. In this respect, the business model canvas is advanced and fluid.

Creates a Common Reference Point

One of the biggest advantages of building a business model canvas is it creates a common language or a reference that can be used to share and articulate the vision behind a business. Additionally, this reference can be helpful for gaining feedback on the business model as a whole and the individual parts that create it.

The intuitive nature of the BMC is very easy to interpret and consume. It provides a transparent reference to use internally across the entire team as well externally with the third parties such as investors and partners. This makes the business model canvas very good at communicating goals and serving as a reference point for multiple different parties.

The business model canvas is a quick starting point for learning, building, and developing a business model. That being said, there are some considerations regarding the business’ success that are implied but not explicitly covered by the business model canvas. For example; the intensity and nature of the competition, roles, performance, competencies, and capacities, and also explaining measurable goals. This shows that while BMC’s are useful for communicating information, they are not a full substitute for a traditional business model.

Focused on the Value Proposition

The value proposition is at the heart of the business model canvas and is the central pillar around which all the other strategic elements revolve. It is safe to say that it is the defining element of a BMC.

The value proposition is the reason for a business’s existence. It decides the core activities and behaviors of the business and provides the direction for all aspects. An impactful value proposition is crucial for the overall success of the business model and it is central in a business model canvas.

The centrality of the value proposition is critical because it guides the rest of the business model and how people should approach each section. When this value prop is so visible, it makes it easier to reference and will make the entire business model canvas more accurate.

Learn more: What is a Business Model Canvas?

The Business Model Canvas (BMC) is a current method for the fast and well-organized documentation of business models. It is associated with numerous advantages such as; easy readability, clear presentation (everything at a glance), promotes teamwork and collaboration, flexibility and creativity, great start for the preparation of a business plan, strong value proposition, and many more. Hopefully, this article has helped illuminate some of the biggest advantages to using a business model canvas, and if you want to use our BMC template for yourself, just try IdeaScale Whiteboard .

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COMMENTS

  1. The HR Canvas: A Strategic Human Resources Management Tool

    The Business Model Canvas is a management tool widely used by startup founders and executive boards alike. It helps summarize all critical areas of business in a comprehensive yet clear one-pager. Similarly, both HR and business leaders can use the HR canvas in small organizations as well as enterprises.

  2. Business Model Canvas

    Business Model Canvas Business Models The Business Model Canvas is a strategic management and entrepreneurial tool. It allows you to describe, design, challenge, invent, and pivot your business model. This method from the bestselling management book Business Model Generation is applied in leading organizations and start-ups worldwide.

  3. HR Business Model Canvas

    The Business Model Canvas consists of nine basic building blocks that show the logic of how a company wants to make money. Applied to HR, the HR Business Model Canvas shows how HR deals with its budget and thus demonstrates its added value.

  4. 5 Types of HR Operating Models: A Full Guide

    1. Business partner model 2. Functional model 3. Front-back delivery model 4. Hub and spoke 5. Federated model HR target operating model Agile HR operating models HR operating model best practices What is an HR operating model? An HR operating model is the way the HR team is organized to deliver value to its internal customers and stakeholders.

  5. Template: HR Service Delivery Model Canvas

    The HR Service Delivery Model Canvas is designed for HR Leaders to drive internal HR alignment and help HR showcase its value and contribution to business success. The Canvas provides a strategic overview of all the key aspects of your HR organization, such as your: HR Value Proposition HR Operating Model HR Value Drivers HR Cost Drivers

  6. Business Model Canvas: Explained with Examples

    The Business Model Canvas is a strategic management tool that lets you visualize and assess your business idea or concept. It's a one-page document containing nine boxes that represent different fundamental elements of a business.

  7. Business Model Canvas: The Definitive Guide and Examples

    Business Model Canvas: The Definitive Guide and Examples Posted on March 9, 2021 by Daniel Pereira Before 2004, entrepreneurs suffered from prolonged and cumbersome business plans. Alexander Osterwalder facilitated the creation of a business model by introducing the Business Model Canvas (BMC).

  8. How To Use The Business Model Canvas

    The Business Model Canvas (BMC) How To Get Started? Different Ways Of Using The Business Model Canvas? Step 1 (of 10): Customer Segments 1. Customers Segments 2. Segment Composition 3. Problems, Needs, Behaviours & Current Alternatives Outcome Step 2 (of 10): Value Propositions What is Value? Outcome Step 3 (of 10): Channels

  9. Business Model Canvas: A 9-Step Guide to Analzye Any Business

    What is the Business Model Canvas? Created by Swiss entrepreneur and Strategyzer co-founder, Alexander Osterwalder, the Business Model Canvas is a visual representation of the 9 key building blocks that form the foundations of every successful business.

  10. A Better Way to Think About Your Business Model

    The business model canvas — as opposed to the traditional, intricate business plan — helps organizations conduct structured, tangible, and strategic conversations around new businesses or...

  11. Business Model Canvas Explained: Definition and Components

    Business Business Model Canvas Explained: Definition and Components Written by MasterClass Last updated: Sep 21, 2021 • 3 min read The simple, visual template of the Business Model Canvas has made it a favorite among entrepreneurs and business strategists.

  12. The Business Model Canvas

    The Business Model Canvas was developed by Alex Osterwald and Yves Pigneur, in collaboration with a community of business professionals at the Business Model Innovation Hub. It is a useful tool for designing and analyzing business models in an objective, structured way. The Business Model Canvas incorporates nine building blocks: Block 1 ...

  13. HR Business Model Canvas

    The Business Model Canvas consists of nine basic building blocks that show the logic of how a company wants to make money. Applied to HR, the HR Business Model Canvas shows how HR deals with its budget and thus demonstrates its added value.

  14. Business Model Canvas Explained: Examples And Structure

    Business canvas, also known as a lean business plan, is a time-saving approach to business planning, opposed to traditional planning methods. Rather than describing the detailed vision, mission, operations, it answers key questions - and the team derives the conclusion from this answer. Business model canvas is more attainable than a business ...

  15. PDF The HR Service Delivery Model Canvas

    The HR Service Delivery Model Canvas Example: Internal: Employees Line managers Leadership team External: Shareholders Regulators Worker unions Applicants/potential employees do the business and our customers most appreciate? Example: Right talent, right time, right position Recognizable and admirable employer brand Example:

  16. The Business Model Canvas: A Quick How-To Guide

    The business model canvas is one framework for sharing your story, or business model, with potential investors. This strategic management framework was first developed by Alexander Osterwalder in the mid-2000s. While the original canvas is applicable to any business, regardless of size, history, or budget, additional canvases have popped up in ...

  17. An HR business model for Millennials

    The combination of boomers retiring, Millennials expanding their presence in the workplace, intense competition for top talent, confusing and changing regulations, and new technology make HR ripe ...

  18. The Business Model Canvas

    The Business Model Canvas Data & Visuals Digital transformation How to Map Out Your Digital Transformation From How to Map Out Your Digital Transformation , Apr 27, 2022 Find new ideas and...

  19. Create a new HR Innovation Canvas

    The HR Innovation Canvas is a set of tools that seeks to create a common understanding of all employees for values, standards and behaviour based on an analysis of the company's previous corporate culture. Once the internal conditions have been adapted to the necessities of the success-relevant employee groups, the focus is expanded to the ...

  20. Business Model Canvas

    The Business Model Canvas is a strategic management template used for developing new business models and documenting existing ones. It offers a visual chart with elements describing a firm's or product's value proposition, infrastructure, customers, and finances, assisting businesses to align their activities by illustrating potential trade-offs.. The nine "building blocks" of the business ...

  21. Make a Business Model Canvas (How-tos, Examples, Tips)

    A business model canvas is a strategic management tool that helps companies visualize new and existing business models they develop. This one-page template allows you to examine the external and internal factors that could make or break your business, such as the infrastructure running your business, what value you're offering, the customers you serve, and the finances that keep your business ...

  22. Create a Business Model Canvas Online

    Finalize your business model canvas online and easily download it as a high-resolution JPG, PNG, GIF, or PDF. Share it digitally through email or social accounts, or publish it as a poster for your office using Canva Print. You can also embed it to your website, your business presentation, or visual Docs in Canva. Create a business model canvas.

  23. 4 Key Business Model Canvas Advantages

    The Business Model Canvas (BMC) is a business model planning tool with a rich history, and through our list of business model canvas advantages, hopefully, it can help take your business to the next level.We define a business model canvas as: "A business model canvas is an organizational tool that helps visualize the development of a potential business model.