The Team Report On The Business Model Canvas Essay

Asking for feedback, good or bad and then act on that feedback to ensure things are enhanced for the customer.

- Helps to identify opportunities in the market place. - Minimize the risk of doing business. - Uncovers and identifies potential problems. - Create benchmarks and helps track progress. - Evaluating the success of the business.

Align customer’s needs with business, develop forecast, set price polices for each product segment, and monitor promotions and sales budget.

Make a customer analysis and segment the market. What impact does your analysis have on the current business model of the company?

To be client-driven and maintain consistency in delivering the quality products and services in the most cost-effective

After thorough analysis of the business model canvas for Alpha Troop 1/150th Armored Reconnaissance Squadron it is apparent that the organization leans heavily on its established partnerships. The greatest number of partners for the unit are sister units who perform the same type of mission as its own entity. Other key partnerships are higher headquarters who develop plans and provide, the who, what, when and where for operations to take place. Sister units are essential partnerships because they can provide additional support for the successful accomplishment of missions and operations. Some key partnerships are outsourced while a great deal of them will be attained from other outside entities (Osterwalder, 2010).

Streamline operations, reduce costs, improve efficiency, maximize profit, minimize waste, devote talent to core business

From a business standpoint, the business model canvas is easy to use and it comes in different forms of software. Start-up businesses can use the model in a variety of ways. The business model canvas can help them determine who their customer base will be and aid them in finding out how to reach them. In today?s business world, competition is everywhere. A start-up business must be able to be competitive in order to succeed. Finally, a start-up business must be able to understand the competition and where they stack up against them.

For an engineering firm, this may be producing high-quality software efficiently. Key Resources discusses the various physical, intellectual, human, and financial resources an organization requires to sustain its operations. Key Partners outlines a firm’s use of outside resources. In particular, which key resources or key activities is a firm acquiring from its partners? 12 Lastly, Cost Structure lays out the most important costs inherent in a firm’s business model. Which key resources and activities are most expensive, and where is there room for optimization? We applied this structured approach to business model innovation to our project and additionally utilized an online tool, LeanLaunchLab21, to electronically save and update our canvas week to week. Each week consisted of our team “getting out of the building” and talking to real customers to gain real feedback on our business model. We utilized a variety of techniques to obtain enough sources of validation to iterate our business model canvas. At the beginning of the project, we relied more heavily on in-person visits to get a more personal feel for our customers and their pain points and to build up an early adopter user base for our eventual

2 1.2 Business Mission………………………………………………….3 1.3 Keys to success…………………………………………………….3 2. THE BUSINESS MODEL……………………………………………………... 4 2.1 Statement of business model……………………………… .4 2.2 Operational needs……………………………………………....

To come together with the business and come up with different ways to handle different situations that may come up with handling the customers. Brainstorm about different ways to solve the questions if a customer is dissatisfied with their service. Make sure that the customers leaves satisfied and to make it a possibly that they will come back.

As mentioned in the article, a good business model tells a good story. Effectively communicating an organization’s business model and strategy to all the members (employees) of the organization can enhance the company’s performance. By understanding where each individual stands and how they contribute to the value chain,

The main reason is that it mainly focuses on how a company develops the right product. It may very simple to say that it may only be about how the company interviews or provide questionnaires or even conducting surveys just to know the important and appropriate requirement of the customers.

Michael Lewis (2000: pages 256-257) scoffed at the whole attempt to formalize the definition of business models when he wrote that “ “Business Model” is one of those terms of art that were central to the Internet boom: it glorifies all manner of half baked plans. All it really meant was how you planned to make money.”

By getting feedback and suggestion from the customer organization should work on their strengths and weakness. Its also important to get the target customers.