Business Canvas Model: A Reflective Summary Case Study Analysis
Introdcution
In this reflective report, I will discuss how I found the Business Model Canvas (BMC) tool helpful and how I see myself utilizing it in the future. Additionally, I will reproduce, and compare my own method to modelling a new business idea.
Business Model Canvas Tool
The BMC is a tactical management instrument that offers a visual picture of a company's business model. It involves of nine elements that are essential for creating and delivering value to customers, generating revenue, and maintaining a sustainable business. The nine elements of the BMC are shown below.
Figure 1: Osterwalder’s Busines Model Canvas
The BMC allows companies to identify and understand the relationships between these elements and make strategic decisions about their business model.
Business Model Canvas of Moret Engineering Services
As an owner of an engineering company, I see the BMC tool being useful in many professional contexts, including marketing, consultancy, and engineering. The tool can be used to identify areas of improvement, analyze competitors, and develop a value proposition that aligns with the customer's needs. Additionally, it can be used to grow a viable business model that creates long-term significance for the company and its stakeholders.
The tool allowed me to visualize the different elements of the business model and how they interact with each other. I was able to identify potential gaps and opportunities for improvement in the model, which helped me refine the overall strategy.
I plan to use the BMC tool to analyze existing business models, identify areas of improvement, and develop new business models for startups and established companies. I will also incorporate design thinking and future thinking to create innovative solutions that meet the changing needs of customers and the market.
Our engineering company Moret Engineering, will focus on providing cutting-edge solutions for our clients in the manufacturing and construction industries. By utilizing advanced technologies and innovative techniques, we will deliver high-quality services and products that meet the needs of our customers. Our business model is centered on the customer and our value proposition, which is to provide customized solutions that increase efficiency, productivity, and profitability.
Here is a nine blocks framework for my business plan.
Our value proposition is to provide customized engineering solutions that increase efficiency, productivity, and profitability for our customers. We will achieve this by utilizing advanced technologies and innovative techniques to deliver high-quality services and products. Our solutions will be tailored to meet the specific needs of each customer and provide a competitive advantage in their respective industries.
We will establish key partnerships with technology and software companies to ensure we have access to the latest tools and resources. Additionally, we will partner with suppliers to ensure we have access to the materials and components necessary to develop our engineering solutions.
Our channels will primarily be online, with a website that showcases our services and products. We will also use social media to connect with potential customers and share our expertise in the engineering industry. Additionally, we will attend industry trade shows and conferences to showcase our solutions and build relationships with potential customers.
Our key activities will include designing, developing, and implementing customized engineering solutions for our customers. We will also spend in research and development to stay at the front position of innovative technologies and techniques in the engineering industry.
Our key resources will include a team of highly skilled engineers and technicians with expertise in advanced technologies and innovative techniques. We will also invest in state-of-the-art equipment and software to support our engineering solutions.
We will establish long-term relations with our customers by providing remarkable customer service and maintaining open communication throughout the entire engineering process. We will also provide ongoing support and maintenance to ensure our solutions continue to meet the evolving needs of our customers.............
Business Canvas Model A Reflective Summary Case Study Analysis
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