Business Model and Frameworks Flashcards
Is a plan for how the venture will be funded; how the venture creates value
for its stakeholders, including customers; how the venture’s offerings are made and
distributed to the end users; and how income will be generated through this process.
BUSINESS MODEL
Refers to the product or service you will be
selling, the value proposition, and how you will reach and communicate with your target customers.
OFFERING
Are the people you will be serving, including potential customers from one or more market segments, or subsections of the market categorized by similar interests or needs
CUSTOMERS
Refers to all the resources the entrepreneur will need to launch and sustain the business venture
INFRASTRACTURE
Relates to the long-term financial
sustainability of an organization to fulfill its mission
FINANCIAL VIABILITY
is a new addition to the market or a novel change to an existing product or service.
INNOVATION
is the creative destruction of old markets with inferior technology and the creation
of new markets.
DISRUPTIVE INNOVATION
occurs when an existing business
fundamentally changes their business model
BUSINESS MODEL INNOVATION
is a non-linear, iterative process that teams use to understand users, challenge assumptions, redefine problems and create innovative solutions to prototype and test.
approaches problem
solving or the creation of a new venture
from the perspective of the customer.
DESIGN THINKING
A practitioner-driven model that
considers four perspectives to
support and develop a
client-focused ecosystem
FOUR LENSES STRATEGIC FRAMEWORK
s a strategic management tool to quickly and easily define and communicate a business idea or concept. It is a one-page document that works through the fundamental elements of a business or product, structuring an idea in a coherent way
BUSINESS MODEL CANVAS (BMC)
Business Model Frameworks
- CUSTOMER SEGMENTS
- VALUE PROPOSITIONS
- CHANNELS
- CUSTOMER RELATIONSHIPS
- REVENUE STREAMS
- KEY SOURCES
- KEY ACTIVITIES
- KEY PARTNERS
- COST
Outlines a quick feedback loop
through customer input.
Used for fast-paced industries
and quick idea validation
LEAN STARTUP
is a spinoff of the BMC that introduces a
potential customer feedback loop for continuous product or idea improvement to meet the market’s needs
LEAN STRATEGY CANVAS
Outlines a systematic, results-oriented process to address and solve problems.
Used for the development of STEM fields with expansion into entrepreneurial ventures, products, and processes;
applicable to all areas
DESIGN THINKING PROCESS
