The lower blocks (cost structure and revenue streams) help you to estimate the potential financial impact of a business model. Hence, this framework creates a common ground for designers and managers to talk about new service concepts within any organizational structure. The upper seven building blocks of the Business Model Canvas are directly connected to key service design tools like journey maps, personas, system maps, prototypes, and service blueprints (see image A).Ĭonsidered a strategic management tool, the Business Model Canvas helps to connect and balance customer-centric tools with “hard facts” such as resources, revenue streams, and cost structures. The good news is, you often do not have to start from scratch. Revenue Streams: Identifying potential revenue sources of a business model.Cost Structure: Outlining the most important cost drivers of a business model.Key Partners: Describing the closer ecosystem in which a company operates.Key Resources: Illustrating the key resources that value propositions, channels, customer relationships, revenue streams, and so on require.Key Activities: Showing the key activities that value propositions, channels, customer relationships, revenue streams, and so on require.Customer Relationships: Visualizing what type of relationship each customer segment expects the company to establish and maintain with it.Channels: Highlighting through which channels customers want to be reached and which ones work best and are most cost-efficient.Customer Segments: Describing the company’s most important customers. Value Propositions: Summarizing what value a company delivers to its customers.These became the building blocks of his Business Model Canvas: In his PhD thesis, he compared different business model conceptualizations and identified their similarities. The template was developed by Alexander Osterwalder based on his scholarly work on the ontology of business models. It is intended to be used as a tool in an iterative design process. With the Business Model Canvas, you can quickly sketch out the business model of existing services or products, whether physical or digital, or prototype the business model of new concepts. Based on a refined and tested business model, you can then easily detail out an extensive business plan. Instead, such tools can complement a business plan: prototyping and testing various scenarios can help you understand the impact of various options on the employee and customer experience as well as on the business. These tools should not be a substitute for a classic business plan, which you often still need – for example, for investment decisions by external stakeholders. Instead, you need tools to quickly visualize a business model so you can iteratively test and refine various options. However, the process of writing a complete business plan to define a business model is a bad match for the quick and iterative working style of service design. Any changes of organizational structures, processes, software, products, services, stakeholder relationships, or customer groups affect different parts of a business model – in return, most changes of a business model affect the employee or customer experience, and therefore shouldn’t be done without an accompanying service design process. Considering business models is an inherent part of any service design process.
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