ARBUS200 Lecture Notes - Lecture 4: Business Model Canvas, Organizational Theory, Ikea

• School: University of Waterloo
• Department: Arts and Business
• Course: ARBUS200
• Professor: Sebastian Siebel- Achenbach

Document Summary

Business model is a conceptual framework that outlines how a venture creates, delivers, and extracts value. Reveals whether opportunity is sustainable and scalable (growing potential). It is not a business plan which outlines how a company will develop. Rather, it succinctly informs how all the core elements of business work together and where there might be gaps. Business model canvas (b. m. c. - created in 2008 by business theorist alexander. All need to be addressed one cannot be ignored or not integrated. One component must be better than the competition, but, ideally, more than one: offering refers to product (good or service) which addresses the customer value. Value a customer to derive from product. Something not have before, or can do more inexpensively, easily, effectively, or quickly than before. Assumed that this is only competitive advantage - incorrectly. Its c. v. p. aligns perfectly with its target customer base: types of c. v. p. All-benefits promoting product benefits, classic best-thing-ever line;