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It offers the rationale for how an organization creates, delivers, and captures value, and is a great starting point for thinking through and discussing the business model of your  \norganization, your competitors’, or anyother enterprise.  \nAs a tool, it enables structured conversations around management and strategy, laying out crucial activities and challenges involved with your initiative and how they relate to eachother.  \nPRO TIP – Individual customer segments are the first building blocks and should be considered at each step as you build out other elements of your model. If you have more than one segment to explore, try color-coding to track elements that are related to a specific customer segment.  \nSUGGESTED TIME  \n2-8 hours  \nROLES  \n2-4 collaborators  \nMATERIALS NEEDED  \ntemplate, pages 34-35 pens  \npaper  \nsticky notes  \nBy illustrating trade-offsand aligning activities, the visual format of a business model canvas can help you develop new initiatives and identify opportunities for efficiency in existing ones.  \nSTEPS  \n1  \nCHANNELS  \nCustomer touchpoints play an important role in customer experience. Channels serve several functions, including raising awareness among customers about your organization’s products and services, helping customers evaluate value propositions, allowing delivery of products and services, and providing post-purchase support.  \n2  \nCUSTOMER RELATIONSHIPS  \nThe types of relationships your organization establishes with specific customer segments can range from personal (in-branch service) to automated (weekly newsletters) . Relationships are driven by customer acquisition, retention, and expansion, and can deeply influence the overall customer experience.  \n3  \nCUSTOMER SEGMENTS  \nIn order to better satisfy customers, you may group them into distinct segments with common needs, behaviors, and other attributes. Your organization must make a conscious decision about which segments to pursue and which to ignore; a business model can be carefully designed around a strong understanding of specific customer needs.  \n4  \nVALUE PROPOSITION  \nCustomers often turn to one organization over another because it solves a problem or satisfies a need. Each organization consists of a bundle of products and services that cater to specific customer segments, represent new or innovative offerings, or are similar to existing market offerings but with added features.  \n References: Business Model Generation, The DIY Toolkit  \n Tool 4  \nBusiness Model Canvas  \nThe easiest way to start a business model canvas is by filling out what you do. This brings focus to your main goal as you complete the other building blocks on the template (pages 34-35) . From there you can build on that goal to see how it can be achieved. The business model can be described by nine basic elements. As you  \nfill in the details for how to meet your goal, treat each individual element as a separate brainstorming activity. Once complete, take advantage of the visual layout – and the capability to have a complete overview – to encourage fresh perspectives and ideas about how the pieces fit together.  \nSTEPS  \n5  \nREVENUE STREAMS  \nRevenue streams are the cash your organization generates from each customer segment. You must ask what value each customer segment is willing to pay. Successfully answering this question helps illustrate realistic revenue streams from each segment.  \n6  \nKEY RESOURCES  \nKey resources are the most important assets required to make a business model work, allow your organization to create and offer a value proposition, reach markets, maintain relationships with customer segments, and earn revenue. Resources may be financial assets, personnel, or even physical infrastructure (e.g., bank branch buildings).  \n7  \nKEY ACTIVITIES  \nThese are the most important things your organization mus","cbCaivfYdw2oVB7C","https://ap.wps.com/l/cbCaivfYdw2oVB7C","pdf",72726,"English","# Business Model Canvas\n## Purpose and overview\n## Time, roles, and materials\n## Building the nine elements\n### Channels\n### Customer relationships\n### Customer segments\n### Value proposition\n### Revenue streams\n### Key resources\n### Key activities\n### Key partnerships\n### Cost structure","[{\"question\":\"What is the Business Model Canvas used for?\",\"answer\":\"It provides a one-page overview to describe, analyze, and design a business model by explaining how value is created, delivered, and captured. 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