Description
What you’ll achieve:
In this project-centered course*, you will use the Business Model Canvas innovation tool to approach either a personal or corporate challenge or opportunity. You’ll learn to identify and communicate the nine key elements of a business model: Customer Segments, Value Proposition, Channels, Customer Relationships, Key Resources, Key Activities, Key Partners, Revenue Streams, and Cost Structure.
Your completed project will be a polished Business Model Canvas that outlines the business case for a new product or service to address your selected challenge or opportunity. You’ll present your case in both a one-page document and a 10-minute video presentation.
What you need to get started:
This project-centered course is designed for anyone who wants to understand innovation best practices and the intra-corporate entrepreneurial (intrapreneur) skills needed to lead innovation projects, teams, and strategies. Entry- and senior-level professionals in a variety of industries – including education, healthcare, business, and not-for-profit – will benefit from the course materials and project experience. The only prerequisite is a strong desire to understand best practices in innovation and to master the skills needed to transform a new idea into a profitable reality.
To complete the project, you’ll need to access the Business Model Canvas from either the Kauffman Foundation (http://www.entrepreneurship.org) or Strategyzer.com (http://www.Strategyzer.com), or via the Creative Commons license offered by Strategyzer AG (http://www.businessmodelgeneration.com/downloads/business_model_canvas_poster.pdf).
*About Project-Centered Courses: Coursera’s project-centered courses are designed to help you complete a personally meaningful real-world project, with your instructor and a community of like-minded learners providing guidance and suggestions along the way. By actively applying new concepts as you learn, you’ll master the course content more efficiently; you’ll also get a head start on using the skills you gain to make positive changes in your life and career. When you complete the course, you’ll have a finished project that you’ll be proud to use and share.
What you will learn
The Business Model Canvas: A Tool for Entrepreneurs and Innovators
Are you interested in starting your own business? Are you an entrepreneur who wants to accelerate profitable growth by improving your business model? Are you an intrapreneur, inside of an organization, who has a new idea that could make your customers smile and your competitors cry? If yes, then the Business Model Canvas is the best place to start. It is a proven tool for creating, assessing or reinventing a business model.
The Customer Segments
Every business model should start with selecting the customer segments that will benefit the most from your new idea, product, service, or solution. It’s very tempting to select numerous customer segments that might have an interest in your value propositions. However, especially if you’re just starting out, it’s often best to choose just one, the most important, customer segment!
The Value Propositions
According to the authors of the Business Model Generation; “The value proposition is the reason why customers turn to one company over another. It solves the customer problem or satisfies a customer need…some value propositions may be innovative and represent a new or disruptive offer. Others may be similar offers, but with added features and attributes.”
Channels and Customer Relationships
Channels are a critical element of the business model. They are how a company communicates with and reaches its customer segments. Channels are typically direct or indirect and has five phases: awareness, evaluation, purchase, delivery, and after sales. Customer relationships can range from highly personal to automated. Either way, the objective is to develop authentic relationships that lead to trust and customer loyalty.
