Applied Business Projects

Abstract

A business model canvas is a plan that describes means through which business entities seek to make money. It is a model that shows how a firm creates, delivers, and realizes value. In the business world, it establishes the customer base and assesses how an organization can provide value within its niche and to its customers. In an organizational setup, this model also acts as a management tool that helps the firm assess its current business concepts or ideas. A business model canvas covers nine distinct elements: customer segments, the value proposition, the distribution channels, customer relationships, revenue streams, key activities, essential resources, key partnerships, and the cost structure. Canvas business model has been used as a tool to compare and analyse companies among the nine building blocks (Zolnowski et al., 2014; Amanullah et al., 2015). The following discussion demonstrates the application of business model canvas in the three named online companies; Alaw Company, Bognant Blogs, and Caradog Cakes.