ENVC Assignement

Assignment
• Name: Nihal Goud

• Roll No: 20212MBA0261
• Section: D
• Subject: Entrepreneurship and New Business Model
• Topic: Business Model Canavas (BMC)
Content
• What is Business Model canvas ?
• Why You Need a Business Model canvas ?
• What are components of Business model canvas?
• BMC of ITC
• BMC of startup business – Royal Restaurant
• What is Business Model Canvas?
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.
• Why You Need a Business Model Canvas?
• The BMC provides a quick overview of the business model and is devoid of the unnecessary details compared to the
traditional business plan.
• The visual nature of the business model canvas makes it easier to refer to and understand by anyone.
• It’s easier to edit and it can be easily shared with employees and stakeholders.
• The business model canvas can be used by large corporations as well as startups with just a few employees.
• It clarifies how different aspects of the business are related to each other.
• You can use a BMC template to guide a brainstorming session on defining your business model effectively.
• What are components of Business Model Canvas?
1. Key partners: A business’s key partnerships include stakeholders, joint ventures, and strategic alliances that
will help the business carry out its objectives. This is also the place to consider suppliers.
2. Key activities: The key activities of a business are all of the tasks and responsibilities that need to be done in
order to make the business model work, including its revenue streams. This might include production tasks,
marketing or networking activities, and problemsolving.
3 Key resources: Your key resources are the primary assets you will need to complete your key activities. This
could include employees, finances, equipment, or intellectual property.
4 Value proposition: The value proposition of a business is the unique offering or solution that a business offers
its customers. A value proposition might be a new product or service customers can’t get anywhere else, or an
improved version of an existing product or service.
5 Customer relationships: This building block involves defining the customer’s relationship to the business and
examining the customer experience. Some businesses require personal assistance, while others are self-service.
6 Customer segments: This involves defining the customer base, or the types of people (or businesses) the
company will target. The more specific the target customer demographics, the easier it is to understand the
customer journey and meet customer needs. It is possible to have multiple customer types, and it’s important to
list them and rank them by importance.
7 Channels: Channels are how businesses communicate with and market to their customers. This includes
distribution channels for getting goods or services to a customer. Channels can be owned by the business, such
as a company website or storefront, or may be owned by partners or third parties, such as retailers or partners
who stock the business’s product and even word-of-mouth marketing.
8 Cost structure: The cost structure defines all the costs the business will incur during operation, including
variable costs and fixed costs. Consider the costs of starting a new business along with the daily costs of
maintaining an existing business.
9 Revenue streams: A company’s revenue streams are the ways that the business makes money. This could be
through single transactions, like selling assets, or through recurring sales, such as monthly subscription fees
 Business model canvas of ITC :
 BMC of startup Business – Royal Restaurants
Key activity Coustomer segments Value praportion Key partners Customer relationship
• Marketing and sales • Families • Distributors • Bulk buyers , buying
• Retail patnerships clubs , loyalty
• Product R & D • Healthy lifestyles • Ingredient
discount
innovation • Online retailers
• Consumer • Medical patients
• • Online discussion
Education • Technological Ex - amazon
• Corporate innovation Channels • Referral discount
• Branding
• Schools, hospitals •
Key Resources Distribution • Tradeshows • Product quality
• Product
innovation
• Social media
• Brand
• Website
• Team
• Partner events
• Partner &retail net work
Cost structure Revenues streams

• Product input • product sales
• Staff salaries • Franchising fees
• Equipment & facilities

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Assignment

• Name: Nihal Goud

• Why You Need a Business Model Canvas?

Cost structure Revenues streams

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