Business model is at the heart of the stories that explain how businesses work. It answers the question ‘Who is the customer? And what does the customer value?’ It also answers the fundamental questions every manager must ask: How do we make money in this business?
What is the underlying economic logic that explains how we can deliver value to customers at an appropriate cost?
The development of a business concept requires a well-thought through business model. This course is designed to help existing and new businesses review or design their business model using a tool called the ‘Business Model Canvas’, which was created by Osterwalder and Pigneur to visualise and document a business model. Businesses could use the business model as the basis for the development of initial business concept and thereafter be used as a guide for the detailed business plan.
