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The Business Model Canvas can be printed out on a large surface so that groups of people can jointly start sketching and discussing business model elements with post-it notes or board markers. It is a hands-on tool that aims to foster understanding, discussion, creativity, and analysis.
A business model describes how an organization creates, delivers, and captures value, [2] in economic, social, cultural or other contexts. For a business, it describes the specific way in which it conducts itself, spends, and earns money in a way that generates profit.
In the late 2000s Osterwalder and a team of 470 co-creators published a model for describing business models: the Business Model Canvas. The Business Model Canvas seeks to offer a model to further develop ideas about the business model for monetizing data.
The Canvas is a tool to help entrepreneurs structure and plan their business models. It is designed to change rapidly, highlight alternatives, promote a customer focus and encourage testing. [16] [19] It can also be used to set up Customer Development hypotheses and to visually track iterations.
The Business Model Canvas is widely acknowledged around the world by practitioners and academics. It represents the structure and components of a traditional linear business model, where value is produced upstream and consumed downstream, in a linear flow.
The Business Model Canvas is a strategic management template invented by Alexander Osterwalder around 2008 for developing new business models or documenting existing ones. It is a visual chart with elements describing a firm's value proposition , infrastructure, customers, and finances.