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workshop on "Business Model Canvas: Building Blocks for Success
Organizers |
Faculty of Management Studies |
Participants |
50 |
Contact No. |
|
Start Date |
19/04/2024 10:00 AM |
End Date |
19/04/2024 04:00 PM |
Venue |
GUNI-CMSR |
Social Media Share |
Description
Workshop on Business Model Canvas: Building Blocks for Success
Ganpat University-CMSR under the Institutions' Innovation Council (IIC) 6.0 auspices, conducted a workshop titled "Business Model Canvas: Building Blocks for Success" on April 19th, 2024. This session, geared towards fostering a deeper understanding of strategic business modeling, attracted around 50 participants from the Centre for Management Studies and Research. The event was expertly led by Dr. Falguni Prajapati, an acclaimed academician and entrepreneurship motivator with 14 years of rich experience in the field. The session was meticulously designed to introduce the Business Model Canvas (BMC), a powerful tool for developing new or documenting existing business models.
Dr. Prajapati began the session with a thorough introduction to the BMC, elucidating its purpose as a powerful tool for mapping out clear paths for business ideas and existing enterprises. She detailed the nine critical building blocks of BMC, which include key partners, activities, resources, value propositions, customer relationships, channels, customer segments, cost structure, and revenue streams. The interactive session fostered lively discussions and brainstorming, providing participants with an opportunity to understand real-world business situations using the BMC framework. The workshop not only deepened theoretical understanding and empowered participants with practical tools for entrepreneurial innovation and strategy development.
Objective of the Workshop on "Business Model Canvas: Building Blocks for Success"
- Introduction to the Business Model Canvas: To introduce students to the Business Model Canvas (BMC) framework and its importance as a tool for visualizing and designing business models.
- Understanding Key Components: To provide a deep understanding of each of the nine building blocks of the BMC, including Customer Segments, Value Propositions, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships, and Cost Structure.
- Application to Real-World Scenarios: To demonstrate how to apply the BMC to analyze and develop business models in various industries, including startups and established companies.
- Developing Practical Skills: To enhance students' skills in using the BMC to map out and evaluate business models, identify gaps, and propose improvements.
- Encouraging Strategic Thinking: To foster strategic thinking by having students consider how different components of the BMC interact and affect overall business success.
- Facilitating Hands-On Experience: To engage students in hands-on activities and case studies where they create and present their own business models using the BMC.
Outcome of the Workshop
- Mastery of the Business Model Canvas: Students will gain a thorough understanding of the BMC framework and its components, enabling them to use it effectively in their business planning and analysis.
- Practical Application Skills: Students will be able to apply the BMC to real-world business scenarios, developing and refining business models based on practical insights.
- Enhanced Analytical Abilities: Students will improve their ability to analyze and evaluate business models, identifying strengths, weaknesses, opportunities, and threats.
- Creativity and Innovation: Students will develop creative thinking skills by designing innovative business models and proposing strategic solutions for various business challenges.
- Improved Strategic Planning: Students will be able to create and refine business strategies that align with the nine building blocks of the BMC, enhancing their overall strategic planning capabilities.
- Presentation and Communication Skills: Through group activities and presentations, students will enhance their ability to communicate and present business models clearly and effectively.
- Real-World Insights: Students will gain insights into how successful businesses utilize the BMC to drive growth and adapt to changing market conditions.
By the end of the workshop, students should be well-equipped to utilize the Business Model Canvas as a powerful tool for designing, analyzing, and improving business models, which will be valuable for their future roles in business strategy and management.